Business News

The naira slid to the brink of 1,000 per dollar in a fresh low in the official market thanks to a combination of central bank tolerance for a weakening currency and insatiable demand for the greenback. The currency was pushed to its latest record a week after the central bank ended curbs on using dollars to buy dozens of imported items, while this time of year typically sees Nigerians making payments for tuition at foreign schools and universities, also adding to demand. Traders exchanged the naira for the dollar in a range of 701 to 999 in transactions booked Thursday…
In the fast-paced business world, "leadership" often brings images of boardrooms, power suits, corner offices, and strategic plans to mind. However, at its core, leadership is all about people. It's about understanding, empowering, and inspiring them to achieve their full potential. Let me raise the bar even further. If you're in a leadership capacity now, you should know that leadership at its very best is about investing in people's development and looking after their needs so they are equipped to succeed and deliver excellence. There's a term for that in the business lexicon: servant leadership. The highest measure of success…
Wednesday, 18 October 2023 05:03

Oil prices surge as Middle East tension deepens

Oil prices surged on Wednesday as tension escalated in the Middle East after hundreds were killed in a blast at a Gaza hospital, sparking concerns about potential oil supply disruptions from the region. Brent crude futures advanced $1.69, or 1.9%, to $91.59 a barrel at 0347 GMT. West Texas Intermediate crude (WTI) futures were up $1.84, or 2.1%, at $88.50 a barrel. In earlier trade, both benchmarks gained more than $2 to touch their highest levels in two weeks. Markets factored in risk premiums after about 500 Palestinians were killedin a blast at a Gaza City hospital on Tuesday that…
Amal Hassan is the founder and CEO of Outsource Global, a Nigerian contact centre business process outsourcing company. It specialises in delivering BPO solutions, telemarketing, IT services, software development, and customer support services to the international market. Hassan is a technopreneur with diverse interests across different technology verticals. In 2013, she founded Outsource Global which has established its presence with offices in Abuja, Lagos, and Kaduna. During a panel session on More Jobs through Investing in Human Capital at the World Bank-IMF 2023 Annual Meetings in Marakesh Morocco, Hassan said she started her career with an IT training center in…
Stay on your grind. Hustle harder. Sleep is for the rich. You’ve heard those phrases promoting the idea that success, achievement and happiness are all enabled by a hefty bank account. That couldn’t be further from the truth, says Laurie Santos, the psychology professor behind Yale University’s most popular course and host of the podcast “The Happiness Lab.” “So many of us think, ‘I’m going to put my head down and avoid social connection, whether it’s at work or in my life, and I’m just going to hustle and get stuff done,’” Santos tells CNBC Make It. “That’s just totally…
Billionaire investor Ray Dalio is sure that artificial intelligence will soon be a “great disruptor” in all of our lives — for both better and worse. AI will help people make strides in productivity, education, healthcare and even usher in a three-day workweek, Dalio said on Tuesday at Fast Company’s Innovation Festival 2023. On the other hand, it’ll likely “disrupt jobs” and be a cause of “argument” for employees and legislators who support halting or slowing down AI’s evolution, he said. “All these changes are going to happen in the next five years,” Dalio, the founder of hedge fund giant…
Over my career, I've tried to time things perfectly with the goal of entering and exiting opportunities at the right time. In some instances, my timing was spot on, and in other instances, I stayed too long or left too early. There are so many variables – alignment, when preparation meets opportunity, and plain old chance. Great timing is really about being in the right place at the right time, and below are a few things to think about as relates to timing. The First-Mover Advantage Being the first to enter a new market can offer a solid competitive edge.…
The inability of Central Bank of Nigeria (CBN) to meet foreign exchange (FX) obligations may result in a decline in imports, PwC Nigeria says in its bi-monthly economic outlook for the country. In the October report, titled, ‘Impact of Global Economic Trends on Nigeria’s Foreign Exchange and the Way Forward’, PwC said the unsettled $7 billion FX obligations of the CBN to banks will affect the confidence of foreign suppliers as regards letters of credit. “Foreign suppliers may not accept letters of credit amid unsettled $7 billion FX obligations to domestic lenders,” the firm said. “This may lead to less…
A job interview has multiple components. Interviewers will likely take some time upfront to discuss your work history and do a general assessment of your fit for the role and company. And oftentimes they’ll leave 10 to 15 minutes at the end for you to ask some questions of your own. You’ll want to fill that time by asking about the role, company and people who are interviewing you — so make sure to do your homework on all three before you come in. But according to former Google recruiter Nolan Church, there’s also one question every job candidate should…
Mark Cuban learned the key to a successful sale when he was just 12 years old. In a recent interview with GQ, Cuban was asked what the “key to selling well” was. His answer: “You’re not trying to convince people. You’re trying to help them.” He learned this piece of wisdom at his very first sales job. At 12 years old, Cuban started what would be a long and successful career in business by going door to door selling garbage bags, to make enough money to buy himself sneakers. When selling to his customers, Cuban noticed that each customer would…
December 20, 2024

Naira expected to weaken further, says CBN business survey

Nigerian businesses anticipate further depreciation of the naira through early 2025, despite maintaining overall optimism…
December 20, 2024

Atiku questions alleged hack of NBS website, says timing suspicious

Former Vice President Atiku Abubakar has raised concerns over the recent claim that the website…
December 22, 2024

How to know if your memory lapses are serious or not

The older I get, the more panicked I become when something slips my mind. Is…
December 21, 2024

‘Professional Back-Scratchers’ charge up to $130 per hour

The Scratcher Girls is an unconventional relaxation therapy studio that charges clients up to $130…
December 21, 2024

NAFDAC busts illegal rice repackaging operations in Nasarawa, Abuja

The National Agency for Food and Drug Administration and Control (NAFDAC) has cracked down on…
December 22, 2024

Here’s the latest as Israel-Hamas war enters Day 443

Israel and Hamas appear close to a ceasefire deal. These are the sticking points Israel…
December 20, 2024

OpenAI launches voice and text access to ChatGPT through new phone service

OpenAI has introduced a novel way to interact with its popular ChatGPT artificial intelligence system…
December 17, 2024

Ademola Lookman named 2024 CAF Men’s Player of the year. These players won in other…

Ademola Lookman, the Super Eagles winger, was crowned the 2024 CAF Men’s Player of the…

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