Economy

Rancard Concluded Second Round of Institutional Investment

Rancard Concluded Second Round of Institutional Investment

According to a new report, Rancard has concluded its second round institutional investment, which was led by Peninsula Capital, a private investment management company based in Menlo Park, California.

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Chief Executive of ArcelorMittal Resigns with Effect from February 18 Next Year

Chief Executive of ArcelorMittal Resigns with Effect from February 18 Next Year

The chief executive of ArcelorMittal South Africa, Nonkululeko Nyembezi-Heita, has resigned after six years at the helm of Africa's major steel producer.

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Bharti Airtel Wins this Year’s Africa Operator of the Year Awards

Bharti Airtel Wins this Year’s Africa Operator of the Year Awards

Bharti Airtel is a telecommunications service provider with operations in over 20 countries across South Asia and Africa. This year's Africa operator of the year award has been won by the company at CommsMEA Awards gala dinner, which was held in Dubai.

Airtel won the award defeating its contenders from all over the Middle East and Africa, thereby beating strong contenders on the shortlist which included MTN Group and Vodacom. Winning this award means that company recognizes excellence in the telecommunications sector.

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Increase of Employment Rate in U.S

Increase of Employment Rate in U.S

It seems something good for people of U.S. According to new report unemployment rate in US has been decreased to about 7% in comparison to past five years. This seems to raise positive feelings regarding the economic recovery of the country.

A gradual increase in the number of new jobs has led to fall in the unemployment rate to a five-year low. This has also raised hope among people of the nation that their government will take some steps to provide a key stimulus effort this month. Increase in jobs has also led to big increases in manufacturing and construction.

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The Banker Magazine Names Zenith Bank as Bank of the Year

The Banker Magazine Names Zenith Bank as Bank of the Year

The Banker Magazine has named Zenith Bank as the Bank of the Year. Zenith Bank was given the above title because of its overall performance among other financial institutions and the judgment of leading financial analysts from financial markets of the world, as per the Banker Magazine.

Receiving the award ceremony on behalf of Zenith Bank, Mr. Godwin Emefiele, Group Managing Director Zenith Bank said that he dedicates this award to customers of Zenith Bank.

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Minister of FCTA Revealed that N288 Billion Spent on Abuja Airport

Minister of FCTA Revealed that N288 Billion Spent on Abuja Airport

It has been recently announced that a sum total of N288 billion has been spent on the rehabilitation and expansion of the Umaru Musa Yar'Adua and Murtala Muhammed Expressways. Senator Bala Mohammed, Minister of the Federal Capital Territory Administration (FCTA), has announced this on 28, November.

He said the Debt Management Office (DMO) has signed a bond, which has become an aid to fund this project.

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Kenya Launches Construction of $5.2 Billion Railway Line

Kenya Launches Construction of $5.2 Billion Railway Line

Kenya has started with construction of a $5.2 billion railway line. The line when gets completed will connect Uganda, the Democratic Republic of Congo (DRC) and South Sudan.

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Spain joins bumpy European recovery

Mariano Rajoy

Going by the report presented by the Bank of Spain, it appears that the worst is over for Spain, as it gets on the road to recovery following a two-year recession that saw high level of unemployment and dwindling economy.

Even though the ride may not be as smooth as anticipated, it has certainly brought a hope for the country undergoing severe financial crunch owing to rising real estate prices and hefty bank bailouts. Considered to be the fourth-biggest economy of the Eurozone, Spain’s third quarter saw an economic growth of 0.1 percent.

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Unemployment At Its Peak In The UK

Unemployment At Its Peak In The UK

A study taken out by the GMB union has revealed shocking news that in the UK, there are more than 3.9 million households which are workless. The nationwide research has found that Liverpool is the most affected area in the country. Here every third house is jobless.

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Global Financial Crunch Affecting Currencies Worldwide

Global Financial Crunch Affecting Currencies Worldwide

It has been informed by the Central Bank of Kenya that on Wednesday, bids worth 368.86 million shillings were received by it and it sold bills worth 368.23 million. As compared to last week, a surge of 20.244% has been observed in the accepted bids.

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