VW Wins German Regulatory Approval For 460,000 Diesel-Car Fixes

Volkswagen (VOWG_p.DE) has won German regulatory approval for technical fixes on another 460,000 diesel cars with illicit emissions control software, it said on Sunday, raising the number of vehicles cleared for repair to over 5 million.

Approval by Germany's motor vehicle authority KBA is valid for countries throughout Europe where 8.5 million diesel cars are affected by Volkswagen's emissions test-rigging scandal. About 11 million autos are implicated globally.

Global Stocks Head For Another Week Of Gains After Wall Street Triple High

Reuters reports

World stocks were headed for their fourth week of gains in five on Friday after a surge in oil prices helped propel Wall Street's three main indexes to co-ordinated record highs for the first time since 1999.

Nigeria’s Bank of Agriculture to Give Single Digit Interest Rate Loans to Farmers

 In support of the diversification drive of the Federal Government, the Bank of Agriculture (BOA) is considering a single digit interest rate for farmers in the country.

Nigerian Airlines Risk Extinction Due To N30b Domestic Debt

Despite the plummeting fortunes of domestic airlines in the country due to the harsh economy, they will have to pay up their debts worth more than N30 billion or be grounded by regulatory agencies.

The Nigerian Civil Aviation Authority (NCAA), Federal Airports Authority of Nigeria (FAAN) and the Nigerian Airspace Management Agency (NAMA) are going after airlines to recover over N30 billion debts accumulated in the last 16 years.

Naira Appreciates To N314,75 A Dollar After CBN Intervention

 The Naira pared some its previous day’s loss on the interbank forex market as it appreciated to N314.75 to the dollar on Thursday, stronger than the N317 to the dollar it closed on Wednesday.

Consumer Inflation Drops 16.7% In Ghana

Ghana’s annual consumer price inflation dropped to 16.7 percent in July from 18.4 percent in June as the cedi currency stabilised and food prices fell at the start of the harvest season, the statistics office said on Wednesday.

UK Launches 24-Hour Visa Service In Nigeria

 The UK has launched Super Priority Visa Service in Nigeria to allow customers to process their applications within 24 hours.

The British High Commission, on its website, said the new service was to particularly meet the needs of those who required urgent service to travel.

South Africa Overtakes Nigeria, Reclaims Spot As Africa’s Largest Economy

South Africa’s economy has again overtaken  Nigeria  as Africa’s largest economy  in dollar terms, reclaiming the top spot it lost two years ago.

Both economies face recession after contracting this year. But while the South African rand has gained more than 16 per cent since the beginning of 2016, Nigeria’s naira has plunged by more than a third of its value.

Household Debt Hits $35B to $12.3 Trillion In US

 Investigation has shown that household debt in the United States of America has climbed to the roof.

In the second quarter, total household debt increased by $35 billion to $12.3 trillion, according to the New York Fed's latest quarterly report on household debt. That increase was driven by two categories: auto loans and credit cards.

U.S. Crude Trades Below $43 on Oversupply Concerns

Oil prices fell on Wednesday as a global supply overhang weighed on markets, while talk of a potential producer meeting to discuss propping up prices was largely expected by analysts to have no impact on supplies.

U.S. West Texas Intermediate (WTI) crude oil futures were trading at $42.43 per barrel at 0657 GMT, down 34 cents from their last settlement, or 0.79 percent.

InnJoo Launches Max3 Smartphone with Fingerprint Technology

Fast-selling mobile device brand InnJoo, this week, launched its latest brand offering of smartphone known as Max 3, which is a high-specification smartphone with an epic six inch High Definition (HD) screen with fingerprint technology into the Nigerian mobile devices market to offer more value to millions of consumers.

2500 Diamond Bank Customers Get N4 Billion through Extra-promo

No fewer than 2,500 customers of the Diamond Bank Plc across the country have received over N4billion through the Diamond Extra promotion.

The Head, Mass Market Segment of Diamond Bank, Osita Ede stated this in Enugu during the south east Regional draw DiamondXtra season 8 organised for customers of the Bank in the south east zone.

AG Leventis To Inject Fresh Funds Into Its Operations

A.G Leventis (Nigeria) Plc is to inject fresh funds into its operations as part of its revival strategies. The Executive Vice Chairman of A.G Leventis, Mr. Michael Economakis stated this yesterday, while speaking at the ‘Facts behind the figures’ presentation ceremony at the Nigerian Stock Exchange (NSE).

Nigeria Government Earns N692 Billion Form Oil And Gas Sales Between July 2015 And June 2016

The Muhammadu Buhari administration has earned a total about $3.46 billion (about N692 billion) as oil and gas sales proceeds between July 2015 and June 2016, latest Nigerian National Petroleum Corporation (NNPC) Monthly Financial and Operations Report has revealed.

The report said a total of $2.3 billion was realised from crude oil sales proceeds, while a total of $1.17 billion was received as proceeds from gas sales.