Business

US oil giants ExxonMobil and Chevron reported another quarter of red ink Friday as uncertainty over oil demand dented by the coronavirus forced the petroleum sector to rein in spending. While both companies were hit by low commodity prices, driven the worldwide business and travel shutdowns, ExxonMobil had the bigger loss and again faced tough questions … Read more

Fitch Ratings | Fitch Ratings – Hong Kong – 29 Oct 2020: Fitch Ratings has affirmed Cameroon’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B’ with a Negative Outlook. KEY RATING DRIVERS Cameroon’s ‘B’ ratings balance low GDP per capita and weak governance indicators against moderate government debt and low inflation supported by membership of … Read more

Business in Cameroon | In 2019, private investments were less dynamic than public investments, according to the 2019 national accounts recently published by the national institute for statistics (INS). Indeed, during the period, private investments slowed down, from 9.6% in 2018 to only 7.4% in 2019. At the same time, public investments rose exponentially from … Read more

CBN The October Purchasing Managers’ Index for the manufacturing sector stood at 49.4 index points, indicating a reversal of five consecutive months of contraction which started in May. This is according to the result of PMI survey released by the Statistics Department of Central Bank of Nigeria (CBN) on Tuesday. The News Agency of Nigeria … Read more

CBN By Elizabeth Adegbesan A Central Bank of Nigeria, CBN, Survey Report has shown that banks experienced higher loan default rates on credit cards and overdrafts/ personal lending to household in the third quarter of the year (Q3’20). The survey also noted that lenders expect to tighten the conditions for which loans are given to … Read more

•Customs Agents petition Presidency By Godfrey Bivbere There is an indication that the five faulty scanners at the Apapa ports have been abandoned as the Federal Government rejects proposal to repair them at a cost of N753 million. This development, Vanguard Maritime Report learnt, comes at the backdrop of the move by the government to … Read more

•Visits ports across Nigeria By Godfrey Bivbere THERE are indications that a fresh port congestion era is looming following a build up of un-cleared cargoes that arrived the country in the last two weeks. The development was as a result of the #EndSARS protest and a subsequent massive civil unrest, leading to shut down of … Read more

NPA Marina Hoodlums ravaged MD’s office, took 2 vehicles By Godwin Oritse with agency report THERE are indications that  the invasion and subsequent vandalism and setting ablaze of the Corporate Head office of the Nigerian Ports Authority, NPA, last week has been viewed by the management of the agency as a sabotage from within. Even … Read more

A map of Nigeria By Godwin Oritse THE Lagos Maritime Security Zone of the Port Facility Security Officers of Nigeria, PFSON, forum has reacted to the arrested Nigerian stowaways on board  ‘M/T Nave Andrmeda’ saying that the incident indicates the failure of the country’s security system. Speaking to Vanguard Maritime Report, Chairman of the Forum, … Read more

By Rosemary Iwunze Coronation Insurance Plc, formerly Wapic Insurance, has reassured its clients and the general public that are victims of the EndSARS protests of its commitment to return them to their normal ways of life. To this end, Coronation Insurance said it had put in place a claims response platform for real-time communication and … Read more