Arrangements have reached an advanced stage for Pinnacle Point Group(PPG) Plc, a South Africa based company to float a rights issue of N1.9billion in the Nigerian capital market.

Manufacturers catch cold as global sugar prices shoot higher, reports Franklin Alli.
“Hike in the prices of sugar has led to significant drops in our profits. You can’t make bread without sugar. This is the major problem confectionaries and bakers are facing now. No single baker is making profit ,” said Chairman, Association of Master Bakers and Caterers of Nigeria, Lagos Chapter, Alhaji Lateef Oguntoyinbo.

NOTORE Chemical Industries Limited plans to generate more than N36 billion revenue at full production from sales of its fertiliser’s products locally.

Nigerian Breweries PLC and the Federal Road Safety Commission (FRSC) have rolled out a road safety campaign tagged ‘Arrive Alive’ for the ember months (September to December) 2009.

By Bose Adebayo She is a mother of three, a widow and a food seller at the popular Oke-Odo market in Agbado-Oke-odo Local Council Development Area. In spite of her hard work, Madam Kofo, as fondly called by her friends, could not make ends meet and her three children were withdrawn from a private school. […]

The Central Bank of Nigeria (CBN) has said that there is no plan to sell the troubled banks to foreigners.Malam Lamido Sanusi, made the disclosure at the presentation of plans to develop real estate and financial report by Pinnacle Point Group Ltd at the Nigerian Stock Exchange (NSE) on Friday in Lagos. Sanusi, who spoke through the Director General of the NSE, Prof Ndi Okereke Onyiuke, said that his travelling to China with bank chief executives was to reassure some banks in that country.

INVENTORIES and the risk of a price slide will trouble OPEC ministers when they meet in Vienna next week, but oil at close to $70 a barrel is expected to convince the group to hold output steady for now.Confidence across financial markets the global economy will return to growth has driven an oil price rally for much of this year, even though fuel demand has shown little sign of emerging from recession.

CHINA’S 2.3 trillion yuan ($337 billion) fund industry may triple in size in the next five years as new products attract money away from banks in the world’s fastest-growing major economy.

WORLD stocks fell on Wednesday after an overnight sell-off on Wall Street, with both Asia and Europe rattled by concerns over the sustainability of this year’s equity rally. The dollar was weaker against a basket of major currencies .DXY, although Wall Street looked set for a flat start.Anxiety about the health of financials and worries the 2009 global stock market rally may have run its course hit U.S. stocks hard on Tuesday and then carried over.

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