Investors turn heat on Big Oil ahead of UN climate summit

Investors managing $15 trillion in assets turned up the heat on oil and gas sector on Wednesday ahead of a United Nations summit in New York aimed at accelerating efforts to fight climate change. Energy companies are on the front line of the global transition to a low-carbon economy, with investors potentially on the hook for hefty losses if the companies do not overhaul their business models in time. In its most detailed analysis of the energy sector, the Transition Pathway Initiative (TPI) said 31 out of 109 energy firms…

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Investors turn heat on Big Oil ahead of UN climate summit

Investors managing $15 trillion in assets turned up the heat on oil and gas sector on Wednesday ahead of a United Nations summit in New York aimed at accelerating efforts to fight climate change. Energy companies are on the front line of the global transition to a low-carbon economy, with investors potentially on the hook for hefty losses if the companies do not overhaul their business models in time. In its most detailed analysis of the energy sector, the Transition Pathway Initiative (TPI) said 31 out of 109 energy firms…

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FDI: Abuja, Lagos, Abia top with $5.3bn capital inflow

  Compelled by results being churned out on their capital flows into the country, foreign investors gave priorities to two states and the Federal Capital Territory during the third quarter of 2018. According to data made available to New Telegraph, during the quarter under review, Abuja had $2.5 billion capital inflow with a ranking of 42 per cent performance; Lagos, $1.6 billion capital inflow with a ranking of 30 per cent performance and Abia, $1.2 billion with a ranking of 23 per cent. The other states ranked between zero and…

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Investors heighten $1bn W’Africa gas investments recovery

WAPCo debunks debts, loans claims to local, foreign banks   Investors in the $1 billion West Africa gas pipeline (WAGP) have amplified move to recover investments on the trans-national gas installations. General Manager, Corporate Affairs of WAGPCo, Harriet Wereko-Brobbey, disclosed this to New Telegraph. Acknowledging that investors on the 678km regional pipeline are yet to recoup their investments, he said the firm was not indebted to any local or foreign bank for the construction of the $1 billion asset. WAPC is a pipeline linking the Escravos-Lagos Pipeline System (ELPS) in…

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CIS: Local investors still bugged by fear, others

The President of Chartered Institute of Stock Brokers (CIS) Mr. Adekoje Adedapo, has said that despite the full restoration of the stock market after the 2008 global meltdown, and continuous involvement of reputable foreign investors, the local investors are still bugged down by fear and low levels of confidence and as such, have not been participating as much as they should. Adedapo who stated this at SEC Journalists Academy in Uyo, Akwa Ibom State said: “The truth is that we are not yet where we are supposed to be. In…

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Cryptocurrencies’ investors lost $1.2bn to theft–Report

  Investors globally lost cryptocurrencies worth $1.2 billion to stealing across the exchanges in the last two years, New Telegraph has learnt. This came as theft of the virtual currencies continue to grow over the various trading platforms. According to latest report by a United States Department of Homeland Security funded cyrptocurrency security company, CipherTrace, the phenomenal growth in the value of cryptocurrencies such as Bitcoin over recent years, has attracted investors, speculators, and thieves. The study also suggested that the figure of stolen cryptocurrencies in the first of this…

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FCTA seeks investors to develop aquaculture centre

The Federal Capital Territory Administration ( FCTA) has disclosed its intention to partnering with interested private investors in the development of the Maitama reservoir, to serve as both recreation and aquaculture centre.   This disclosure was made by the Secretary, FCT Agriculture and Rural Development Secretariat, Stanley Nzekwe, when he distributed fisheries input to fish farmers in Bwari Area Council of FCT. Nzekwe said that development of the aquaculture centre in the territory became necessary, following a growing demand of fish and fisheries products by the residents of the nation’s…

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‘Investors lose 45% revenue to multiple check-points’

  Industrialists are losing about 45 per cent of their revenue to multiple check-points along Benin Republic and Nigeria international highway. In separate interviews with New Telegraph in Lagos, the immediate past Chairman, Lagos Chamber of Commerce and Industry Small and Medium scale Enterprises Group (LCCI SMEG), Jon Kachikwu, and a former Director-General, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), John Isemede, lamented that the situation was part of the reasons consumers were paying higher for certain classes of goods. Kachikwu said some manufacturers and exporters…

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Developers, investors flay new Lagos Land Use Charge

Despite the kick-off of the new Land Use Charge payment in Lagos State by Governor Akinwunmi Ambode, real estate developers, who are major investors and practitioners have continued to fault the new property tax. They argued that it would discourage investment at a time many houses are still begging for occu- pation in the metropolis.   Specifically, former President, International Federation of Real Estate , Nigeria Chapter, Chief Kola Akomolede, said it was wrong for the government to base an annual tax on capital value of a property.   Rather,…

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‘Emerging market investors snub ratings firms on downgrades’

Emerging-market investors are not worried about the opinion of ratings companies these days as the hunt for yield outweighs what they consider rear-view assessments. Most of the developing nations that were downgraded in the past six months, including Brazil, Colombia and South Africa, saw their risk premium rise just briefly following the decision before quickly resuming their downward march amid a strong risk-on mood. According to reports from Bloomberg, investors have been chasing high payouts in an environment of stubbornly low interest rates and willing to take on more risk…

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