The European Central Bank cut interest rates for the first time in 10 months on Thursday and held out the possibility of further policy action to support the recession-hit euro zone economy. Responding to a drop in euro zone inflation well below its target level and rising unemployment, the ECB […]
Author: InvestAdvocate
Nigeria’s UACN pays dividend, bonus as profits soar
Nigerian local conglomerate UACN’s 2012 pre-tax profit rose by 53.6 percent to 10.74 billion naira ($67.89 million), from 6.99 billion naira the previous year, the company said on Thursday. Turnover rose 16.8 percent to 69.63 billion naira, compared with 59.64 billion naira in 2011. UACN, which has interest in […]
Nigeria’s Dangote Cement rises to unprecedented high
Nigerian stocks rose to their highest level in more than three weeks on Thursday, lifted by a 10 percent gain in biggest listed firm Dangote Cement to an unprecedented high, traders said. The Nigerian stock index rose 3.18 percent to 34,504 points, its highest since April 9. Dangote Cement, […]
