business news

Making gas operations safer
business

Making gas operations safer

Nigeria’s ambition to expand the use of liquefied petroleum gas (LPG) must be matched by a serious commitment to safety. The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), at its recent webinar on operational excellence and compliance, warned that rising consumption alone cannot guarantee a sustainable industry.

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Northern Ashanti Mines seeks injunction to block government takeover of $110m mine investment
business

Northern Ashanti Mines seeks injunction to block government takeover of $110m mine investment

Northern Ashanti Mines Limited Company has filed an injunction application seeking to stop a government takeover of its Konongo concession, warning that about $110 million in committed expenditure is at risk. The application, filed at the Commercial Division of the High Court in Accra, seeks to restrain the Minerals Commission and the Minister for Lands and Natural Resources from taking possession of the mine or reallocating it to third parties.

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Has Healey’s military-style budget secrecy really played out so differently to past budgets?
business

Has Healey’s military-style budget secrecy really played out so differently to past budgets?

The public has been told repeatedly that John Healey is so concerned about budget leaks that he has set up defence-style “compartmentalisation” to prevent the Treasury’s financial secrets escaping. The macho military analogies began in mid-August when Healey was said by the Telegraph to be “on a war footing” to stop the drip of information that he believed had beleaguered Rachel Reeves.

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IMF delegation assesses TOR’s rehabilitation and financial recovery efforts
business

IMF delegation assesses TOR’s rehabilitation and financial recovery efforts

A delegation from the International Monetary Fund (IMF) has visited the Tema Oil Refinery (TOR) to familiarise itself with the refinery’s operations, assess ongoing rehabilitation works and gain insight into management’s efforts to restore the facility to sustained operational and financial stability. The delegation was led by the IMF’s Ghana Resident Representative, Dr. Adrian Alter, while the TOR team was led by its Managing Director, Mr. Edmond Kombat, Esq.

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TOR eyes stock market listing as it tackles $517m debt
business

TOR eyes stock market listing as it tackles $517m debt

The Tema Oil Refinery (TOR) is considering a listing on the Ghana Stock Exchange as management seeks fresh investment while pursuing the restructuring of an inherited debt burden of approximately $517 million. Managing Director Edmond Kombat disclosed this during a visit by an International Monetary Fund (IMF) delegation led by the Fund’s Ghana Resident Representative, Dr Adrian Alter.

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Africa must move youth-led green innovations beyond ideas to viable businesses – Ahmed Bening Wiisichong
business

Africa must move youth-led green innovations beyond ideas to viable businesses – Ahmed Bening Wiisichong

The Secretary General of the Pan African Youth Union, Ahmed Bening Wiisichong, has called for stronger financing, technical support, and policy interventions to help young African innovators turn climate solutions into sustainable businesses that drive economic growth and create jobs. Speaking at the Africa Youth Conference at the Labadi Beach Hotel in Accra, Mr Wiisichong said scaling youth-led innovation required a deliberate shift from isolated initiatives to solutions that could be replicated, financed and sustained across communities and countries.

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Volkswagen to build $4bn Audi SUV factory in US despite job cuts at home
business

Volkswagen to build $4bn Audi SUV factory in US despite job cuts at home

VW investment creates 4,500 jobs in Georgia comes amid Trump’s damaging tariffs, intense Chinese competition and costly shift towards EVs Audi has said it will spend $4bn (£3bn) to build its first factory in the US, as its parent company Volkswagen struggles with the impact of steep tariffs imposed by Donald Trump. The German brand’s chief executive, Gernot Döllner, joined Trump on stage at a campaign rally on Saturday night to announce the factory in Macon, Georgia, in an unusual move by a big European brand just days before the US midterm elections.

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Tomato prices remain high as pepper gets cheaper in Lagos
business

Tomato prices remain high as pepper gets cheaper in Lagos

Malam Mohammed, a tomato seller at Costain Bus Stop, said he sourced his produce from Mile 12 Market, where prices varied according to variety, size and place of origin. He said a paint of tomatoes, which sold for N6,000 in August and September, now cost N7,000, while a basket had risen from between N35,000 and N40,000 to between N45,000 and N65,000.

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City Hall officials lead flag off and awards presentation at 2026 Standard Chartered Nairobi Marathon
business

City Hall officials lead flag off and awards presentation at 2026 Standard Chartered Nairobi Marathon

​Representing Governor Sakaja Johnson during the prize-giving ceremony, Mr. Ibrahim Auma, County Executive Committee Member (CECM) for Finance and Economic Planning, officially awarded the champions of the flagship 42km Men’s and Women’s Full Marathon categories. ​In addition, Dr. Anastasia Nyalita, County Executive Committee Member for Business Hustler and Opportunities, presented awards to the top finishers in the 10km Men’s and Women’s races.

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Cutting ‘red tape’ is nothing but a red herring – and arguably counterproductive
business

Cutting ‘red tape’ is nothing but a red herring – and arguably counterproductive

Blaming a moribund economy on too many rules is a hackneyed neoliberal trope – UK plc needs smarter regulation, not less regulation Before becoming prime minister, Andy Burnham pledged to “end 40 years of neoliberalism”. In the run-up to the chancellor John Healey’s high-stakes Commons address, the government issued a press release last week promising his plans would include measures to “slash the red tape choking firms”.

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Enugu traders reaffirm support for Gov Mbah’s second term
business

Enugu traders reaffirm support for Gov Mbah’s second term

The traders, under the umbrella of the Enugu State Market Amalgamated Traders Association (ESMATA), led by its President, Chief Chinwuba Igwesi, gave the assurance on Friday, 23 October during a high-level market stakeholders’ meeting with the governor.

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Interest rates unlikely to reach 4.75% by next summer, say City economists
business

Interest rates unlikely to reach 4.75% by next summer, say City economists

Experts say Bank of England unlikely to increase rates by full percentage point – and could lower them by end of 2027 Financial markets are wrong to predict the Bank of England will raise UK interest rates by a full percentage point or more by next summer, City economists believe. According to market-implied interest rate expectations, the Bank is likely to raise interest rates at least four times over the next year, lifting the bank rate from 3.75% today to 4.75% by the end of July, and possibly to 5% – meaning five rises – by December 2027.

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