In its bid to gear itself to match up to the task of deep offshore oil exploration two years after signing the Production Sharing Contract, PSC, ONGC Mittal Energy Limited, OMEL has set up a full-fledged establishment with human resource and state-of-the-art equipment as the company unveiled its new office and seismic data processing and interpretation centre in Lagos.

Citing technical pat terns, Citgroup Incorporation has advised investors to sell the euro against the dollar as the common European currency follows gold lower.

The Chairman, Lagos State Association of Microfinance Banks, Chief. D. O. Adenekan, has warned microfinance bank operators against the risk of embarking on hasty branch expansion programme so as to avoid over-capitalizing and over-stretching their facilities.

The era of illiquidity in the Nigerian capital market may have been over, as investors in the secondary segment of the market have jettisoned their fear of collapse of the market, staking their funds in the exchange of equities in the Nigerian Stock Exchange (NSE).

Tourism to Africa will grow by a slower 2-3 per cent in 2009 from around 47 million arrivals last year because the global economic slowdown is making travellers cut costs, a U.N. tourism body said on Tuesday. Tourism has become a key source of foreign exchange for many African nations, and in countries like Mauritius and Seychelles it makes up over 30 per cent of gross domestic product.