Lufthansa cancels 800 flights in German airport strikes.

German airline giant Lufthansa said it will cancel "more than 800" flights on Tuesday as public-sector workers walk out on strike for more pay, hobbling major airports like Frankfurt."Lufthansa must cancel more than 800 of its planned 1,600... Read More

Apr 09, 2018 9913 0 By Obiaks News

HSBC to spend $300 million in Brexit relocation costs.

- HSBC to spend $300 million in Brexit relocation costs.- Aiming to move around 1000 jobs to Paris.- Already spend $12 million in consultation and legal fees in preparation for Brexit.HSBC Banking group has disclosed that it is aiming to spend close... Read More

Oct 30, 2017 3003 0 By Obiaks News

N50 stamp duty: Salary accounts, self-to-self transactions exempted – CBN.

The Central Bank of Nigeria says the recently introduced N50 stamp duty for all deposit transactions will not be collected for Payments of salaries and wages as well as payments and deposits for self-to-self transactions whether inter or intra... Read More

Jan 22, 2016 2565 0 By Obiaks News

Uber appoints Laurel Powers-Freeling as first ever UK Chairman.

- Uber appoints Laurel Powers-Freeling as first ever UK Chairman.- Still battling to retain license in London.- Powers-Freeling is delighted and looking forward to working with the team.Uber has appointed a former banking executive as its first ever... Read More

Oct 27, 2017 2544 0 By Obiaks News

Apple confirms that illegal labour was involved in iPhone X production plant.

- Apple confirms that illegal labour was involved in iPhone X production plant.- The students voluntarily worked overtime but were paid all their benefits and wages.- It is against Apple's policy for interns to work more than 40 hours... Read More

Nov 22, 2017 2542 1 By Obiaks News

Bristow Helicopter crash: NCAA suspends operation of Sikorsky S-76C aircraft.

The Nigerian Civil Aviation Authority has suspended the Bristow Helicopters Limited’s Sikorsky S-76C type of aircraft from flying  in Nigeria due to the successive mishaps of the said aircraft type on the coastal waters of Lagos.The... Read More

Feb 05, 2016 2425 0 By Obiaks News

CBN Warns Nigerians against "MMM", Calls it Wonder Bank.

The Central Bank of Nigeria (CBN) has warned Nigerians to be careful not to deposit money in any institution that is not insured by the Nigeria Deposit Insurance Corporation (NDIC).The bank through its the acting Director of Corporate... Read More

Sep 16, 2016 2342 0 By Obiaks News

Buhari Rejects Naira Devaluation, Says “I Won’t Kill The Naira’’.

President Muhammadu Buhari has declared late Wednesday in Nairobi that he was yet to be convinced that Nigeria and its people will derive any tangible benefit from an official devaluation of the Naira.In a statement issued by the Senior Special... Read More

Jan 28, 2016 2243 0 By Obiaks News

Naira remains at 470 as dollar shortage continues.

The naira closed flat at 470 against the United States dollar on Monday, the same level it recorded on Friday.The naira had plunged to 470 on Wednesday, down from 455 on Tuesday as fresh dollar shortage hit the official and parallel forex... Read More

Nov 01, 2016 2200 0 By Obiaks News

Shell, ENI accused of negligence over Nigeria oil spills.

Nigeria was on Friday urged to re-open investigations into 89 oil spills in its southern delta region, after claims that Shell and ENI misreported the causes.Rights group Amnesty International said there were "reasonable doubts" about how the spills... Read More

Mar 16, 2018 2126 11 By Obiaks News

McDonald's UK staff protest poor salaries, engage in first ever strike.

- Staff lament zero hour contracts and poor wages.- Complain about lack of union rights.Following years of receiving wages just around the standard minimum wage, a group of McDonald's UK staff have engaged in a strike in London, protesting their... Read More

Sep 05, 2017 2107 0 By Obiaks News

Samsung chairman named as suspect in tax evasion case, office raided by police..

The scandal which has followed the Samsung family seems far from over as the South Korean police an Thursday named its chairman, Lee Kun-hee as a suspect in a $7.5 million (8.2 billion won) tax evasion case. The heir of the country's biggest... Read More

Feb 08, 2018 2054 0 By Obiaks News

China says trade talks with US 'impossible under current conditions'.

China stepped up its attacks on the Trump administration on Monday over billions of dollars worth of threatened tariffs, saying Washington is to blame for frictions and repeating that it was impossible to negotiate under “current... Read More

Apr 09, 2018 1938 24 By Obiaks News

Nigeria's economy is not in confusion- Finance Minister.

Speaking with State House correspondents at the end of the Federal Executive Council (FEC) meeting presided by President Muhammadu Buhari on Wednesday, Minister for Finance, Kemi Adeosun, declared that the Nigerian economy is not in confusion.Whilst... Read More

Sep 01, 2016 1931 0 By Obiaks News

Transport for London will fight off Uber's appeal in court.

- Transport for London will fight off Uber's appeal in court.- Uber can continue to operate until the appeal has been reviewed.- The cab booking company seeking to make amends rather than fight back.After its decision not to renew Uber's license to... Read More

Oct 12, 2017 1922 1 By Obiaks News

China cracks down on cryptocurrencies ICOs, Bitcoin may be disrupted.

- China cracks down on initial coin offerings.- Aims to curb illegal fundraising through unregulated financial instruments.-Regulators have had to step in to prevent further cryptocurrency chaos.The Chinese government is cracking down fundraising... Read More

Sep 13, 2017 1909 0 By Obiaks News

JP Morgan Chief Executive says Bitcoin is a fraud.

- The bitcoin is a fraud, says Jamie Dimon- "You can't invent a currency out of thin air and think that the buyers are really smart.- It may take a while but the Bitcoin will eventually blow up.- Dimon aims to fire any JP Morgan staff who invests in... Read More

Sep 13, 2017 1895 0 By Obiaks News

NAFDAC Apprehends Three Men trying to steal Boxes of Spaghetti.

- Men try to steal unwholsesome boxes of spaghetti marked for destruction.- Arrested by policemen attached to NAFDAC.The National Agency for Food and Drug Administration Control (NAFDAC) has disclosed that on Wednesday it caught three men attempting... Read More

Aug 24, 2017 1861 0 By Obiaks News

Bank of America confirms Warren Buffett as Major Shareholder.

- Buffett's firm now a major shareholder in Bank of America.- Also a major investor in Wells Fargo.World famous American Billionaire and Philantrophist, Warren Buffett's firm Berkshire Hathaway has just been confirmed as a major shareholder with... Read More

Aug 30, 2017 1859 0 By Obiaks News

CBN extends BVN registration for Nigerians in Diaspora.

 The Central Bank of Nigeria, CBN , has extended the Bank Verification Number , BVN, registration exercise for Nigerian Banks’ Customers in the Diaspora to June 30, 2016.This directives was given barely four days after the deadline for... Read More

Feb 05, 2016 1824 0 By Obiaks News

Comcast Makes Offer To Buy Sky, Challenges Murdoch's 21st Century Fox.

US cable TV giant Comcast Corp, has made a bid of $31 billion (£22.1bn) to buy sky, challenging an existing offer from Rupert Murdoch’s Fox and Bob Iger’s Walt Disney. Comcast which owns NBC and Universal Pictures, offered 12.50 pounds per... Read More

Feb 27, 2018 1822 0 By Obiaks News

Nigeria announces removal of 23,846 ghost workers from government payroll.

No fewer than 23, 846 ghost workers have been removed from the Federal government's payroll, saving the government N2.293 billion from the total salary bill for the ministries, departments and agencies MDAs for February 2016. According to the... Read More

Feb 29, 2016 1783 0 By Obiaks News

Banks clarify positions on forex sanction by CBN.

Two banks Fidelity Bank Plc and First City Monument Bank (FCMB) Plc have clarified issues relating to their Tuesday’s suspension from the Foreign Exchange Market (FOREX) by the Central Bank of Nigeria (CBN).The two banks and seven others were... Read More

Aug 25, 2016 1700 1 By Obiaks News

Debts: FG deducts N32bn from states’ allocation.

    Six states have been thrown into a serious financial mess after the Federal Government de­ducted the sum of N32 billion from the monthly allocations of some indebted states in the federation.The money was deducted from the... Read More

Aug 22, 2016 1644 0 By Obiaks News

Britain considering joining NAFTA as EU trade deal looks unlikely.

- Britain considering joining NAFTA as EU trade deal looks unlikely.- U.S. is biggest single destination for British exports.- The EU is Britain’s biggest single export market.According to the Daily Telegraph (UK), Britain may be forced to seek... Read More

Oct 10, 2017 1642 0 By Obiaks News

Nigeria pulls out of African free trade summit.

 Just days before the African Continental Free Trade Area Treaty is set to launch in Rwandan capital, Kigali, Nigeria's president Muhammadu Buhari has pulled the country out of the trade deal -which is much like that of the European Union.The... Read More

Mar 19, 2018 1620 0 By Obiaks News

Nigerian Crude Export Falls Further.

Nigeria's economic status is not smiling in the least. Crude oil, the country's main economic stay,keeps on suffering set backs on international market. Nigeria's crude oil export for November may have been slightly affected, as Shell Petroleum... Read More

Oct 02, 2015 1591 0 By Obiaks News

Naira falls to 325 on dollar shortage.

The Nigerian Naira has continued its free-fall against the dollar, crashing to N325 per dollar at the close of business on Thursday, Punch reports.The fall was due to scarcity of the greenback as desperate importers scramble to meet their... Read More

Feb 12, 2016 1586 0 By Obiaks News

Shell suspends repairs of damaged pipeline over fears of reprisal attacks by militants.

Any hope of an increase in Nigeria’s crude oil export was dashed on Tuesday, as Shell Nigeria said repair works on the Forcados export pipeline had been discontinued due to rising insecurity in the Niger Delta.Speaking at the company’s... Read More

Jun 08, 2016 1568 0 By Obiaks News

26 Ponzi Scheme operators sent to jail in China over $7.6 bn fraud.

- 26 individuals including two senior executives jailed for involvement in ponzi scheme.- China's biggest ponzi scheme ever.- 900,000 investors participated and lost $7.6 billion between 2014 and 2015.Two senior executives of a collapsed... Read More

Sep 12, 2017 1563 0 By Obiaks News