Corporate Governance

H1: Zenith Bank waves the magic wand

By OKEY ONYENWEAKU Despite weak economic tailwinds, Zenith Bank Plc is fashioning a path to stronger corporate earnings in the year 2018. The bank’s management has recently struck a pact with lower operating expenses relative income while putting a spear through the heart of nonperforming loans (NPLs) as the banks half year (H1) 2018 results portray the reworking of the bank’s operational performance. Zenith Bank Plc Zenith, arguably Nigeria’s largest financial lender by assets, has pleasantly surprised market pundits…

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SECP to collaborate with APTAMA in its efforts to revitalize textiles units

ISLAMABAD : SECP is committed to provide all assistance to the corporate sector in providing ease of starting and doing business and help the existing companies in distress, however, SECP alone cannot achieve this daunting task without the support of the Federal Government and Provincial governments. The Capital Mark in Pakistan is fully geared to support the capital requirement of the industry in Pakistan and shorty PSX will introduce new products to cater to the needs of the corporate sector…

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Embattled audit watchdog faces split as accountants get their say

Accountants have turned the gun on the watchdog that polices them by arguing that it currently “marks its own homework” and needs to be split. Responding to a landmark government inquiry into the Financial Reporting Council (FRC) following several high-profile scandals in the sector, auditors have called for a radical shake-up of the Big Four regulator. In one submission seen by The Sunday Telegraph, accountant BDO argues that the FRC should be split into two because its “reputation for regulation…

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Colorado executive pay jumps in 2017

When HomeAdvisor and Angie’s List got married last October, a bunch of the confetti fell on the management team working at the combined company’s Golden headquarters. Four executives at ANGI Homeservices, which connects homeowners needing services with screened contractors, joined the list of Colorado’s 10 highest paid executives last year, pushing down or pushing out some familiar names. Click to enlarge On the whole, 2017 was a rewarding year for the top 100 executives at Colorado’s 50 largest public companies.…

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ADX listed firms distribute $6bn cash dividends

Abu Dhabi Securities Exchange (ADX), the region’s leading financial market, has distributed more than Dh23.4 billion ($6.37 billion) in cash dividends to around 406,000 investors on behalf of listed companies in 2018,a media report said. The cash dividends paid out by listed companies increased around 5.5 per cent compared Dh22.2 billion in the year 2017, reported Emirates news agency Wam. ADX holds a market leading position as a distributor of cash dividends to investors. Stock listed on ADX account for…

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BTO cancels P7, 996, 500 airshow

AIRPLANES AT GABORONE INTERNATIONAL AITSHOW Botswana Tourism Organisation (BTO) has cancelled Gaborone International Airshow, a P 7, 996, 500 event that duplicated and was in the same geographical area as the already existing Matsieng International Airshow. The cancellation of the BTO calendar event follows a cancellation of another BTO event, a music show sponsored at the tune of P3 million that was expected to be headlined by American crooner Seal; dubbed “the basket and song,” earlier this year. GIAS which…

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Money-spinning bidders for NetOne – The Zimbabwe Independent

FOUR foreign firms, including an American-funded Lebanese consortium and a South African telecommunications giant, are jostling to acquire between 45% and 50% equity stake in NetOne, in a deal that is expected to turn around the fortunes of the crisis-ridden state-owned mobile network operator (MNO). Kuda Chideme According to informed sources, the other suitors are an Abu Dhabi-based firm and grouping of investors domiciled in the Diaspora. Insiders with details of the deal say the potential investors had showed willingness…

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SMEs must add value to products to sustain businesses

By Isaac Arkoh, GNA Darmang (C/R), Aug 11, GNA – MrDerrick Owusu Ambrose, the District Chief Executive (DCE) for Assin South hasurged Small and Medium Scale Enterprises (SMEs) to add value to their productsto sustain their businesses. They must be creative and adapt tochanges in the environment they operate to succeed and compete favourably onthe global scene. That, he noted was key to withstandthe stiff market competition and business dynamics to stimulate growth. Mr Ambrose was speaking at aprogramme organised…

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Economy needs renewed public confidence in banks – Otuo Acheampong

Business News of Saturday, 11 August 2018 Source: citinewsroom.com 2018-08-11 Nana Otuo Acheampong is a banking consultant A banking consultant, Nana Otuo Acheampong has called for renewed confidence in Ghana’s banking sector following the recent issues that have led to the collapse of some banks in the country. According to him, not all local banks have the weak corporate governance, high non-performing loans (NPLs) and poor liquidity challenges, among others, that contributed to the merging of five struggling banks into…

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Donations flow for charity organisation

|     Danial Norjidi     | DARUSSALAM Assets Sdn Bhd handed over a cheque donation to Pusat Ehsan Al-Ameerah Al-Hajjah Maryam yesterday as part of its corporate social responsibility (CSR) initiative. According to a press release, for a second year running, Darussalam Assets will be maintaining full financial support for two special needs students throughout their programmes in Pusat Ehsan for a year. Pusat Ehsan introduced its ‘Special Needs Student Adoption Scheme’ in 2017, where sponsors are able to fully cover the…

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Hey Elon Musk, where’s the funding to take Tesla private?

It’s now been several days since Elon Musk roiled the U.S. markets with a tweet contending that funding was secured to take Tesla private at $420 a share in what would be the largest corporate private buyout ever, and his silence since is deafening. Every hour that goes by without proof the funding exists and is dedicated to such a transaction feels like more proof that it does not, and only feeds the same short-selling doubters that Musk was apparently…

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RTA signs pact with Rochester University Dubai

Dubai’s Roads and Transport Authority (RTA) has signed an agreement with the Rochester Institute of Technology (RIT) Dubai to provide scientific consultations and advancement of professional development for its employees   As per the MoU, the RIT Dubai will also offer practical and academic training for students in relevant fields of expertise to the Authority.   “This is part of the RTA’s endeavour to co-operate with universities in the UAE in line with its vision and policies, especially as the…

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BUSINESS NEWS IN BRIEF 11/8

Tra fish exports see sharp upswing in seven months Vietnam’s tra fish (pangasius) exports in July soared 13.5% to US$182 million, bringing total export turnover in seven months to US$1.18 billion, up 19.5% against the same period last year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). Major consumers of Vietnamese Tra fish include China, the US, EU, ASEAN, Mexico, Brazil, Colombia and the United Arab Emirates (UAE). During the seven-month period,the UAE surpassed  Saudi Arabia to…

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