Business News

The best employees Mark Cuban has hired aren’t the ones with unwavering confidence or sharp business acumen. A different trait sets high achievers apart, according to the billionaire entrepreneur and investor: They’re problem-solvers. “For me, the number one thing is you reduce stress rather than create it,” Cuban, 66, told CNBC Make It at an event announcing his AI partnershipwith Google. “There’s a lot of people that are just a whirlwind and everything seems to be difficult, causing a lot of unnecessary stress.” As an employee, Cuban explained, the best soft skill you can develop is the ability to “analyze…
As Nigerians struggle with the high cost of petrol, the price of Liquefied Petroleum Gas, also known as cooking gas, has also increased to N1,500/kg. But the Managing Director/Chief Executive Officer of NIPCO Plc, Suresh Kumar, said the Dangote refinery and other domestic refineries would bring down the price of cooking gas, expressing concerns that over 60 per cent of cooking gas consumed in Nigeria is being imported. Checks by our correspondent confirmed that the prices of cooking gas peaked at N1,500/kg in some retail outlets in Ogun and Lagos States as of Sunday. In Abuja, the average price for…
The Nigerian Electricity Distribution Company (NERC) has stated that revenue generated by the 11 electricity distribution companies (DisCos) increased by 48 per cent in the second quarter of 2024. The increase was due to the hike in electricity tariff for Band A customers which NERC stated was necessitated due to the rising cost of electricity generation that would have pushed the federal government’s subsidy payment to over N2trn by the end of the year. The regulator in its second quarter report stated that the DisCos revenue moved from N291.62bn in the first quarter of 2024 to N431.16bn in the second…
Oil prices jumped about 4% on Thursday on a spike in U.S. fuel use before Hurricane Milton barrelled across Florida, Middle East supply risks and signs that demand for energy could grow in the U.S. and China. Brent <LCOc1> futures rose $2.82, or 3.7%, to settle at $79.40 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $2.61, or 3.6%, to settle at $75.85. In the U.S., the world's largest oil producer and consumer, Hurricane Miltonbarrelled across Florida, where about a quarter of fuel stations sold out of gasoline and where the storm also knocked out power to more…
Despite President Bola Tinubu’s efforts to position foreign capital inflows as a solution to Nigeria’s ongoing economic challenges, latest data from the National Bureau of Statistics (NBS) highlights a troubling trend of underperformance. In the second quarter (Q2) of 2024, Nigeria’s capital importation fell by 22.85% to $2.60 billion, down from $3.37 billion in the first quarter, underscoring the difficulties the country faces in drawing foreign investment. This decline comes despite a year-on-year increase of 152.8% compared to Q2 2023, suggesting that while Nigeria has made some gains, they are not sustainable or robust enough to significantly impact the economy.…
Chris Kille Key Takeaways Low-value tasks can trap business owners in unproductive cycles, preventing them from focusing on high-impact activities that drive growth.Delegating, automating and outsourcing non-strategic tasks frees up time for more important business activities and decisions and leads to increased revenue and sustainability.Letting go of control and empowering others to assume certain tasks can be difficult, but it's crucial for growing your business and achieving long-term success. In the life of every businessman, there is always a time when you glance at the clock and at the list of tasks to be done, and you ask yourself where…
Morgan Smith Laura Mae Martin has taught some of the world’s brightest engineers and executives how to work smarter. Martin is Google’s executive productivity advisor. It’s her job to help employees and C-suite leaders at the tech giant get more done — without burning out. When it comes to productivity, she says, the most common problem isn’t a missed hack; it’s that people try to take on too much work. The most productive people share one skill that gives them a competitive edge in the workplace, according to Martin: setting specific, concrete priorities instead of vague, indefinite goals. Accomplish more…
Amid macroeconomic challenges, Guaranty Trust Holding Company Plc (GTCO) and 11 other financial institutions listed on the Nigerian Exchange Limited (NGX) generated an estimated N3.81 trillion profit before tax (PBT) in the half year ended June 2024. This represents a 108.2 per cent increase from the N1.83 trillion PBT generated by these 12 financial institutions in H1 2023. In the period under review, financial institutions operating in Nigeria, and Sub-Saharan African countries were faced with inflationary pressure, and sustained hikes in monetary policy parameters that drained liquidity in the banking system, among other challenges. However, in the period under review,…
Chris Kille Key Takeaways Managing a business should should center around direction, planning and growth rather than getting bogged down by day-to-day tasks. Implementing the 10 strategies outlined in this article can help you regain control over your business, build a culture that empowers your team, grows your company and allows you to have time and a stress-free environment to enjoy the process. Managing a business should be about direction, planning and development — not about becoming immersed in the day-to-day operations. However, if you are struggling with urgent work, stress and having no personal life, then it is high…
The federal government says Nigeria has officially commenced the sale of crude oil and refined petroleum products in naira. Wale Edun, minister of finance and coordinating minister of the economy, in a statement on Saturday, announced that in line with the federal executive council (FEC) directive, the sale of the products in naira commenced on October 1. “Following a meeting of the Implementation Committee, Chaired by the Minister of Finance and Coordinating Minister of the Economy to conduct a post-commencement review of the Crude Oil and Refined Products Sales in Naira initiative, the commencement of this strategic initiative was affirmed…
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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 15, 2024

102-year-old on living a long, happy life: 'I don't do exceptions'

Often, centenarians, people ages 100 and up, say their purpose in life keeps them going,…
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 21, 2024

Here’s the latest as Israel-Hamas war enters Day 442

Israeli military says Yemen missile lands near Tel Aviv, 14 lightly injured, ambulance service says…
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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