BSJ is published weekly by TELL Communications Limited     Sat Jul 04, 2009
 
Stock Market Report, Monday 27th May 2009. GTB - OPEN: 10.10k CLOSED: 14.59k , Bank PHB: OPEN: 6.87 CLOSED 8.90 Guiness: OPEN: 117.50k CLOSED 118.19k  
 
 
 
  • The Most Visible Dividend
    Within a short time, the Nigerian telecoms/ICT sector records giant strides that have impacted other key sectors, making it arguably, the most visible dividend of 10 years of uninterrupted democracy in Nigeria By Chikodi Okereocha
     
  • The Agric Alternative
    In the last 10 years, Nigeria has made several efforts aimed at returning to agriculture not just for food sufficiency but also as a major foreign exchange earner By Abiola Odutola
     
  • Our Banks Still Have a Long Way to Go
    "And to show that the confidence in the banking system has gone very high, before the consolidation, there were only 13 million depositors in the Nigerian banking system. Today you have about 30 million depositors"
     
  Businesss News
Lafarge Posts N12.1 Billion Profit
Lafarge Cement, WAPCO Nigeria has declared a N12.1 billion profit after tax for the year ended December 31, 2008.
 
The Flip Side of Privatisation
Indorama, core investor in the privatised Eleme Petrochemical Company Limited, turns around the company but its Nigerian workers complain of subjugation.
 
ADB Partners Intercontinental Bank
The African Development Bank, ADB, has given a $100 million credit facility to Intercontinental Bank to accelerate economic growth, social development and economic integration of African nations.
Commentary

The MEMAT as Best Practices document
By Oladele Solanke
 
  From the Broad Street
Top Gainers( 27/05/09—03/06/09 )
Company Opening Value   Closing Value Change Change(%) Dividend
FTN Cocoa 1.18 1.20 0.02 1.69 0.02
GTB 10.10 14.59 4.49 44.45 -
PHB 6.87 8.90 2.03 29.54 .45
Guiness 117.50 118.19 0.39 0.33 6.80
   
     
Banking
A Vote of Confidence?
Despite the impact of the global financial crisis on Nigerian banks, the Central Bank of Nigeria and other stakeholders say none of the banks is in distress By COLLINS NWEZE
 
Aviation
Breaking New Grounds
Arik Air launches flight operations in Freetown, Sierra Leone, thus easing air travel between the West African country and the rest of the world
 
Market
A Quarter of Mixed Fortunes
Despite the fluctuation of major indicators of the Nigerian capital market in the first quarter of 2009, experts insist the market is still liquid for investment By ABIOLA ODUTOLA
 
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Goodbye Goody
Healing Power of Music
   
Government and Policies
Leaking Ecological Purse
The House of Representatives public accounts inquiry into the management of ecological funds reveals how billions of naira was misappropriated while victims of environmental disaster suffer.
 
Industry
Tougher Times Ahead
There are indications that Peugeot Automobile Nigeria, the only surviving auto assembly plant in the country, may close shop if urgent steps are not taken By MUYIWA LUCAS
 
 
Market Summary (download complete list)
Company Opening Value   Closing Value Change Change(%) Dividend
FTN Cocoa 1.18 1.20 0.02 1.69 0.02
GTB 10.10 14.59 4.49 44.45 -
PHB 6.87 8.90 2.03 29.54 .45
Guiness 117.50 118.19 0.39 0.33 6.80
CBN Exchange rate ( 6/01/2009 )
Currency Buying(NGN) Central (NGN) Selling
CFA 0.2807 0.2907 0.3007
Pounds 238.5838 207.6479 240.2213
US Dollars 147.7 146.2 146.7
Euro 206.9377 207.6479 208.358
   
Interview
 
We Cannot Manage Our ICT Industry in Isolation’
The service providers should endeavour to not only hire trained personnel, but should also invest money in training’
     
Property
Under the Sledgehammer
About 5,000 distressed buildings in Lagos risk demolition by the state government to avert collapse and loss of lives.By RANTI ADEDEJI
Infotech
For the Love of Customers
Telecoms operators launch new initiatives to position themselves as the best customer-friendly service provider. It promises to be more exciting for telecoms customers, as service providers are now engaged in a subtle but fierce struggle to position them
 
Media
In Quest of Press Freedom
Participants at this year’s celebration of World Press Freedom Day highlight many challenges facing the practice of journalism. Participants at this year’s celebration of World Press Freedom Day highlight many challenges facing the practice of journalism
     
Ogilvy Reaffirms Commitment
Ogilvy Africa, parent company of Prima Garnet Nigeria, has reaffirmed its commitment to doing great work, delivering value, professionalism, integrity and accountability to the communications sector...
 
Better Internet Access
Nigerians can now enjoy unlimited access to innovative and reliable telecommunications and information technology, IT services as ipNX partners with Nigerian Communications Commission, NCC,...
 
NIPR Inducts 150 Members
Nigerians can now enjoy unlimited access to innovative and reliable telecommunications and information technology, IT services as ipNX partners with Nigerian Communications Commission, NCC,...
 
 
Building Castles of Sand
Countries should start phasing out the unlimited capital-gains tax advantages given to houses — which people treat partly as an investment. And any government weighing whether to create institutions to boost home-ownership should take note of the disaster
 
The biggest emerging economies will recover faster than America
China's rebound will only be sustained if the economy shifts further from state-sponsored investment to private consumption. That will require tough structural changes, from forcing state-owned firms to pay fatter dividends to a stronger social safety net
 
 
Wishful, and Dangerous, Thinking
Obama’s scattershot tax increases are a poor substitute for the wholesale reform America’s Byzantine tax code needs. Limiting high earners’ deductions for mortgage interest, local government taxes and other things is certainly more efficient than raising
 
 
EU Lifeline to Developing Nations
The European Union, EU, has pledged a €75 billion package to the International Monetary Fund, IMF, to help stabilise countries struggling with the current financial crisis.
 
Dollar Crisis Hits Uganda
The Central Bank of Uganda has surprised everybody by buying dollars from a market already starved of the United States, US, currency to push the dollar higher against the local currency, the shillings
 
IMF Hails Zimbabwe
The International Monetary Fund, IMF, has commended the Zimbabwean government for taking positive steps towards restoring relations with the Bretton Woods Institution.
 
 
 
     
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