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Nigerian shares to drop Up to 44% in 2009 – Renaissance

Nigeria’s benchmark stock index, the world’s worst-performing equity gauge in dollar terms so far this year, is likely to end 2009 lower by 8 percent to 44 percent on the slide in oil prices, Renaissance Capital said. “We are broadly negative about the Nigerian equity market’s performance over 2009 — …

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UN debates global food cost rise

Just because the issue of food prices has not been in the headlines recently it has not gone away. Although prices have fallen from the highs recorded during the unprecedented spike at the beginning of 2008, they have not fallen back to where they had been before the crisis began. …

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Africa offers pot of gold for local banks

Africa’s immature banking industry presents great opportunities, and the expansion into the continent that South African banking giants had undertaken may prove to be a prudent move as growth in the local market slows down. Ross Jenvey, an analyst at Credit Suisse Standard Securities, said last week that Standard Bank …

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CIDA staff’s airfare to aid conference in Ghana causes uproar in Canada

Canadians are displeased by news of a Canadian International Development Agency (CIDA) staff’s cost of travelling to attend aid conference in Ghana. The official led a delegation to the Accra High Level Conference on Aid Effectiveness which took place at the Accra International Conference Centre from September 2-4, 2008. According …

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College financial aid system facing stiff test

Finding financial aid for college this year promises to be tougher than any final exam. The quest for money that begins for students and parents every January has taken on new urgency in 2009 amid fears that loans and grants will be scarcer than in the past due to the …

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Africa has potential as new “Clean Energy Frontier”

Hopes are alight for Africa’s potential for the development of renewable energy. The belief in the continents renewable energy development potential is spearheaded by the African Development Bank (AfDB) as investors and regional leaders search for a new clean energy platform, ghanabusinessnews.com has learnt. Information available cites the Afdb as …

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US woman under investigations for role in internet scam

A local woman is under investigation for her alleged role in an international scam, according to Det. Sgt. Ron Shaw of the Live Oak Police Department. The woman, whom Shaw did not name, may be charged in connection with the “Nigerian reshipping scam,” LOPD reports indicate. Under the scheme, a …

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Ethiopian Airlines, ASKY sign Management Contract

Ethiopian Airlines and ASKY signed a management contract which enables Ethiopian Airlines to manage ASKY for a period of five years. The Chief Executive Officer of Ethiopian Airlines Mr. Girma Wake and Chairman of ASKY Mr. Gervais Koffi Djondo signed the agreement at Ethiopian headquarters in Addis Ababa January 16, …

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Geoffrey Roberts Award 2009 open for entries

The Geoffrey Roberts Award, established to commemorate the life and work of the pioneering wine importer, is now taking applications for 2009. The annual travel bursary of £3,000 rewards those judged to have the potential to make a positive difference in their chosen field of food, drink and/or travel. Last …

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Five, including woman arrested for oil bunkering in Warri

Five persons, including a woman, have been arrested, following a raid in Warri, Delta State, by the security arm of the Joint Task Force (JTF) a.k.a. Operation Restore Hope. The arrest of the suspected oil thieves in a raid at Arwol Waterside, near Main Market, Warri following a tip off, …

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