Indications emerged at the weekend that Samsung Heavy Industries (SHI) Nigeria Limited, the first subsidiary of Samsung Heavy Industries of Korea to be established in Africa and Lagos Deep Offshore Logistics (LADOL), a 100 per cent indigenous logistics and port facility developer, have reached an out- of- court settlement on their legal dispute over the $3.8 billion Egina Floating Production Storage Offshore (FPSO) project.
Samsung and LADOL have also established a new partnership called SHI-MCI Free Zone Enterprise to build Africa’s first FPSO integration and fabrication facility in LADOL free zone in Lagos. Located 130 kilometres offshore in Oil Mining Lease (OML) 130 in deep offshore Nigeria, the Egina field development is a project to build FPSO for Total Upstream Nigeria Limited and the Nigerian National Petroleum Corporation […]
The Nigerian Stock Exchange (NSE) may pick 20 companies out of the 30 stocks that made up its NSE 30 Index to form its new premium board. The NSE 30 Index tracks the 30 most capitalised stocks at the stock market.
The Nation‘s investigation indicated that the NSE may soon launch the new premium board, which will effectively make the Exchange a three-tier trading platform. The new premium board is designed as a market for the most capitalised stocks with the best corporate governance and liquidity. It is meant to showcase Nigeria’s best stocks to the global market […]
According tothe Nigerian Government, Nigeria’s domestic cocoa market value currently stands at $80 billion. In addition, cocoa production in Nigeria is expected to hit 800 million metric tonnes in 2015.
Energy Future Holdings, the big Texas power company that filed for bankruptcy in April, said it will present a proposal for auctioning the company after it scrapped an earlier plan to exit Chapter 11 under control of unsecured creditors.
The company said it was evaluating potential proposals it received from financial and strategic bidders, and opting for an auction may indicate increasing interest in the company […]
Buffett is arguably right. This report on Bloomberg Businessweek shows that although Tim Hortons has about 4,500 stores (20% in Canada and 5% in the US) and Burger King has 13,800 stores (2% in Canada and 39% in the US), Tim Hortons’s Canada business will contribute the majority of the revenue of the combined companies. Burger King’s U.S. and Canada business together represented only 15% of the combined company’s total 2013 revenue.
Warren Buffett may be most famous for the billions of dollars he has made from investing but he is also well known as a cheerleader for the United States. The Oracle of Omaha routinely exhorts investors to put their money in America, “the mother lode of opportunity,” as he wrote in his annual letter this year.
So Buffett’s participation in fast-food chain Burger King Worldwide Inc’s purchase of coffee and doughnut chain Tim Hortons Inc – complete with relocation of Burger King’s domicile to Canada – might at first blush raise questions about his patriotism […]