Brent Crude Slips To $76.38 On Oversupply Fears

Brent Crude Slips To $76.38 On Oversupply Fears

Saudi Arabia’s OPEC governor said on Thursday that the oil market could face oversupply in the current quarter. “The market in the fourth quarter could be shifting towards an oversupply situation as evidenced by rising inventories over the past few weeks,” Adeeb Al-Aama told Reuters. Saudi Arabia Energy Minister Khalid Al-Falih said there could be a need for intervention to reduce oil stockpiles after increases in recent months. U.S. crude oil stockpiles rose last week for the fifth consecutive week, while gasoline and distillate inventories fell, the Energy Information Administration…

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NigComSat To Partner DFID On Affordable Internet Services

NigComSat To Partner DFID On Affordable Internet Services

The Nigeria Communications Satellite Limited says it is collaborating with the United Kingdom’s Department for International Development for the provision of Internet services in un-served and underserved rural communities in the country. A statement issued in Abuja on Thursday by the Head, Public Affairs Department, NigComSat, Adamu Idirs, said a high-level meeting had been held between the two organisations for the purpose of executing the objective of the partnership. Idirs stated, “A high powered delegation from the Government of the United Kingdom, through its agency, the Department for International Development,…

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Royal Exchange, Jaiz Bank Tops NSE Index 

Royal Exchange, Jaiz Bank Tops NSE Index 

The bulls upstaged the bears on the equity sector of the Nigerian Stock Exchange yesterday, occasioned by price gains on highly capitalised stocks, as the All-share index increased marginally by 0.4 per cent. Yesterday, the All-Share Index (ASI) gained 141.46 absolute points, representing a growth of 0.44 per cent to close at 32,545.06 points. Similarly, market capitalisation rose by N51 billion to close at N11.881 trillion. The upturn was significantly impacted by gains recorded in medium and large capitalised stocks, amongst which are; Total Nigeria, Nestle Nigeria, Nigerian Breweries, Unilever…

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IATA Projects 8.2 Billion Global Passenger Traffic By 2037

IATA Projects 8.2 Billion Global Passenger Traffic By 2037

The International Air Transport Association (IATA), Wednesday revealed that present trends in air transport suggest passenger numbers could double to about 8.2 billion by 2037. The latest update to IATA’s 20-Year Air Passenger Forecast, shows that an increasing shift Eastwards in the centre of gravity of the industry is behind the continued strong growth.Over the next two decades, the forecast anticipates a 3.5 per cent Compound Annual Growth Rate (CAGR), leading to a doubling in passenger numbers from today’s levels. Africa will grow by a CAGR of 4.6 per cent,…

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