Tag: capital
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Indonesia announces ‘Nusantara’ as new capital
Indonesia’s new national capital, to be built on Borneo Island, would be named “Nusantara”, a minister said on Monday. The national parliament is expected to pass a bill on the new capital on Tuesday, paving the way for the start of its construction this year. “I have received a confirmation from Mr President that the…
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We’re unaware of Otedola’s share acquisitions – FBN Holdings
FBN Holdings Plc has reacted to media reports that billionaire businessman, Mr Femi Otedola, has acquired a significant shareholding in the company. The holding company for First Bank of Nigeria Limited, in a statement signed by its Company Secretary, Seyi Kosoko, and filed with the Nigerian Exchange Limited on Friday, said it had not received…
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UBA’s capital buffer strong to support growth – Uzoka assures shareholders, customers
Group Managing Director of United Bank for Africa (UBA) Plc, Mr Kennedy Uzoka, has assured shareholders of the company that the lender was strong enough to weather any storm. According to him, the present state of the bank’s financial status can support the growth target set by the management. He said UBA remains liquid and…
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SEC proposes N1b capital for nominee companies
The Securities and Exchange Commission (SEC) has proposed new rules to serve as guide to nominees companies operating in the country. In the document posted on its website on August 3, 2018 titled ‘Exposure of Sundry Amendments to the Rules and Regulations of the Commission,’ SEC is proposing a minimum of N1 billion capital for…
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Nigeria Air needs $300m initial capital to commence operations — FG
The new national airline, Nigeria Air, will require initial capital of between $150m and $300m, and the Federal Government is seeking a strategic partner to operate the carrier, according to a document seen by Reuters on Thursday. The Minister of State for Aviation, Hadi Sirika, on Wednesday said the government would not own more than…
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Israel: Pope, UN, EU, others criticize Trump for recognizing Jerusalem as capital
World leaders have criticized President Donald Trump’s decision to officially recognise Jerusalem as the capital of Israel. TheNewsGuru.com reports that the US President had on Wednesday declared that United States will henceforth deal with Jerusalem as the capital of Israel and directed the US Embassy in the country be moved Tel Aviv to Jerusalem. However,…
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UN chief urges caution as Trump recognises Jerusalem as Israeli capital
UN Secretary-General António Guterres on Wednesday stressed that there was no alternative to the two-state solution to the lingering conflict between Israel and Palestinian. Guterres made the remarks in the wake of the announcement by the U.S. President Donald Trump recognising Jerusalem as the capital of Israel. The UN chief stressed that Jerusalem was an…
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Donald Trump ignores warnings, formally recognises Jerusalem as Capital of Isreal
President Donald Trump on Wednesday formally recognised Jerusalem as the capital of Israel. The president also directed processes commence to formally move the U.S. embassy from Tel Aviv to Jerusalem. World leaders including the EU and Arab countries had cautioned against the move saying it could further worsen the crisis in the Middle East. The…