Mutual Benefits Assurance, PZ Partner on Product Insurance

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17/01/2016

Free of international sanctions, unfettered Iranian oil exports might be expected to drive prices further below $30 a barrel.

A report by Reuters says market participants argue that the removal of trade restrictions was so well trailed that price moves on Monday should be limited.

On Saturday, the U.N. nuclear watchdog said Tehran had met its commitments to curtail its nuclear programme, and the United States, European Union [EU] and United Nations [UN] immediately revoked sanctions that had slashed the OPEC member’s oil exports by around two million barrels per day (bpd) since their pre-sanctions 2011 peak to little more than 1 million bpd.

Growing signals from around a month ago that the move would occur earlier than traders initially expected fueled a selloff which sent Brent crude tumbling 24 percent since the beginning of the year, the biggest such fall since the financial crisis of 2008.

Iran has said that it hopes to increase its post-sanctions crude exports by around 1 million bpd within a year, with most analysts expecting an increase of 200,000-500,000 bpd within six months of restrictions ending.

“Iran is now free to sell as much oil as it wants to whomever it likes at whatever price it can get,” said Richard Nephew, Programme Director for Economic Statecraft, Sanctions and Energy Markets at Columbia University’s Center on Global Energy Policy.

“The Iran deal should not be a surprise to the market and has been expected for a long time. I’d argue this is priced in and already reflected in prices. May be there is a small knee jerk reaction and the market opens lower given the pervasive bearishness at the moment but I’d find it hard to believe it has a bigger effect than that,” said Amrita Sen of Consultancy Energy Aspects.

But some market analysts were also worried on the imminent injection of as much as 500,000 bpd of extra Iranian crude into a global market that is already running a surplus of some 1 million bpd.

Iran’s OPEC representative, Mehdi Asali said the country would not hesitate to ramp up production, appearing to contradict comments from other senior Iranian oil officials that Iran would not flood the market at a time of global oversupply.

“We have not moderated our plans regarding increasing output when sanctions are lifted. It will be increased by 500,000 bpd, and by another 500,000 bpd shortly after that,” state news agency IRNA reported.

“I anticipate they will be able to add anywhere from 300-500 thousand barrels per day to the market, probably with an up-front spike as inventories are depleted,” said Nephew, referring to unsold Iranian oil stored on over a dozen Very Large Crude Carrier (VLCC) super-tankers.

Dell Unveils New Latitude Portfolio for Business Professionals … Unveils New Collection of Monitors at CES 2016

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17/01/2016

Dell has announced an expanded portfolio of award-winning Latitude commercial devices that combine industry-leading security, manageability and reliability features with stunning design, infinity edge display and premium materials.

Adapted from the company’s successful line of XPS consumer devices, the new additions across the Latitude and UltraSharp display lines represent the most comprehensive commercial products redesign in company history.

Unveiling the new product range at CES 2016 in Las Vegas, Vice President and General Manager, Commercial Client Solutions at Dell, Kirk Schell, observed that “For more than 20 years, Latitude products have been a leading choice among commercial customers worldwide for their unmatched security, manageability, reliability and support.”

“With the new Latitude line, we are delivering commercial devices employees will desire for being thinner, lighter and more capable than many of the most popular consumer products without compromising on the security and manageability requirements of IT”. Schell added.

The new Latitude portfolio comprises the Dell Latitude 13 7000 Series Ultrabook which is described as the world’s thinnest and lightest 13-inch business-class notebook; The Latitude 12 7000 Series 2-in-1, which provides the full functionality of a laptop and the flexibility of a tablet and also the Latitude 11 5000 Series 2-in-1 built with the world’s best security and manageability features.

Dell also unveiled a new collection of CES Innovation Award-winning monitors, including a stunning OLED monitor, two new InfinityEdge monitors that offer a virtually bezel-less display and a wireless monitor that allow mobile users to connect directly to the display without cables.

The Dell UltraSharp 30 OLED monitor is Dell’s first OLED monitor, bringing together the advantages of OLED display technology to PC professionals working in color-critical environments such as graphic arts and photography.

The Dell UltraSharp InfinityEdge monitors feature the world’s first InfinityEdge displays with ultra-thin borders on all sides.

Designed with a complementing arm that offers greater adjustment flexibility and integrated cable management, this recipient of 2016 CES Awards in Innovation and Eco-Design helps maximise workspace and minimise desktop clutter, while the Dell UltraSharp 24 Wireless monitor is packed with the latest technology allowing users to display and manage content from a Windows laptop and Android smartphone, concurrently.

Air Cote d’Ivoire to Commence Abuja Flights from February 1

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17/01/2016

Air Côte d’Ivoire just announced that direct flights from Abidjan to Abuja would be possible–starting from February 1, 2016, on a three-time per week basis (Mondays, Wednesdays and Saturdays).

The airline is already operating flights to Nigeria, notably from Abidjan to Lagos.

The Abidjan-Abuja flight costs FCFA183, 000 without tax while that to Lagos costs FCFA220,000, VAT included.

Air Côte d’Ivoire currently operates flights to 23 African countries and has in its fleet three Airbus A319 and an Airbus A320 for the regional network, whereas two bombardiers Dash 8 Q400 serve the domestic network. Nigeria is the Cote d’Ivoire’s first commercial partner since 2008.

Africa Could Record 4.2% Growth by Overcoming Power Sector Challenges

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17/01/2016

Sub-Saharan Africa should prioritise the development of its power industry if it wants to overcome the internal challenges to its development.

This is what emerged from World Bank’s latest report of global economic perspectives.

“Solving the problems of the power sector should be a priority,” the report said. “The implementation of appropriate conditions for a competitive industrial sector mainly depends on the adequate supply in power, it adds.

World Bank projects a growth of 4.2% in 2016, higher than the 3.5% recorded in 2015.

However, it says this will be achieved only if prices of commodities stabilise and power limitations are overcome.

“Concerning these limitations, the report is less optimistic. The power crisis could worsen due to the lack of necessary reforms in many countries,” the institution warns.

The analysis arises in a situation whereby most sub-Saharan countries currently suffer from a severe power crisis. Drought, lack of investment in the energy sector and that of reforms to make it more attractive for private investors are the main reasons for this deficit.

Despite all these challenges, the World Bank is optimistic about the thriving of this sector considering the various efforts made by various countries in order to change the situation.

Unilever, Stallion Group Storm Lagos Shopping Festival 2015

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13/12/2015

Unilever Nigeria Plc, Stallion Group, STACO Insurance Plc and Accion Microfinance Bank Limited have joined a long list of other firms to confirm participation at the maiden Lagos Shopping Festival 2O15 set for December 17, 18 and 19 at Tafawa Balewa Square [TBS], Lagos.

Strategic International Communication of President Buhari’s Agenda

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13/12/2015

“Fellow Africans have become even more important publics of Nigeria’s international public relations.”

There is an on-going makeover of the international reputation of Nigeria since President Muhammadu Buhari came into office on May 29th. He has brought credibility to the governance of the country. The immediate implication is that the international community is now better disposed to working with Nigeria, especially with regard to enhancing security.

Lekki Miami Beach Resort Celebrates One Year Anniversary

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13/12/2015

Set out to provide alternative holiday resort in Nigeria for Nigerians and foreigners alike, Lekki Miami Beach Resort (LMBR) Limited has continued to expand, offering value that could be comparable to its peers in other parts of the world.

Olashore Signs MoU with Ireland on Pre-Medical Programme

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13/12/2015

Olashore International School (OIS) recently signed an MoU with the Institute of Education in Ireland to offer foundation courses that will serve as a platform for Olashore Students who wish to study Medicine to easily transit into Medical Universities in Ireland and UK. This was signed during the recent visit of some of the Irish government to Lagos, Nigeria.

Union Bank Donates Two Vehicles to Ogun Govt

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13/12/2015

As part of its Corporate Social Responsibility (CSR) initiatives, Union Bank has donated 2 hilux vehicles to the Ogun State board of internal revenue to boost the agency’s effort in generating internal revenue for the State.

Red Star Announces Special Holiday Season Offer Tagged “Pay-Less Ship More”

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13/12/2015

Determined to bring joy to shippers across Nigeria as they shop for the holiday season, Red Star Express Plc., the foremost logistics services solution provider in Nigeria is set to roll out its own special holiday offer for Nigerians tagged“pay-less ship more”.

INTEL: IMPACTING LEARNING WITH TECHNOLOGY THROUGH TEACHER EDUCATION

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13/12/2015

All over the world, there is an increasing attention on the role technology plays in preparing students for the 21st century.

Unlike the traditional method of learning which is more about the paper and pencil teacher centered approach, technology-induced learning not only motivates learning in students, but it also offers them the 21st century skills needed to remain competitive in a highly technological knowledge-based economy.

Lagos Shopping Festival 2O15 Set for Dec. 17

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29/11/2015

The maiden edition of Lagos Shopping Festival 2O15 is set for December 17, 18 and 19 at Tafawa Balewa Square [TBS], Lagos. The theme is: ‘Reinventing the Nigerian Economy via Non-oil Export.’

Microsoft Unveils Fund for Affordable Internet

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29/11/2015

Microsoft Corporation has launched a new fund to cultivate companies with solutions that bring affordable Internet access to underserved markets.

The fund is part of Microsoft’s Affordable Access Initiative, which invests in new last-mile access technologies, cloud-based services and applications, and business models that can reduce the cost of Internet access and help more people affordably get online.

NEXIM, World Bank Collaborate to Develop Nigeria’s Mining Sector

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15/11/2015

…The clear intention of The World Bank to collaborate with the NEXIM Bank towards a structured intervention in the Nigeria’s solid minerals sector is quite expedient. More so, with commitment and firm resolve of President Muhammad Buhari to diversify the economy, revitalize the mining sector towards boosting job creation and enhancing foreign exchange earnings – Orya