Global commodities trader, Trafigura Group Pte Ltd., has entered into a joint venture agreement to create a commodity petrochemical trading business, with a focus on bulk liquid chemicals. The joint venture has been created between Trafigura and senior executives from the petrochemical trading industry, including the current management team of […]
Rio Tinto Group executive Joanne Farrell has decided to retire after nearly 32 years with Rio Tinto and will leave the company at the end of September 2019. Joanne joined Rio Tinto in 1987 and has worked in a variety of roles across human resources, health, safety, communities and environment, […]
Notable French billionaire and businessman of the Bernard Arnault’s family and his LVMH luxury goods group said they will donate 200 million euros ($226 million) to help repair Paris’ Notre-Dame cathedral. A statement issued issued on behalf of Arnault said: “The Arnault family and the LVMH group would like to […]
Credit Suisse said it has reached an agreement with Founder Securities Co. Ltd. to increase its shareholding in its Credit Suisse Founder Securities Limited joint venture. The transaction is subject to regulatory approvals. This confirmation follows disclosure by Founder Securities to the Shanghai Stock Exchange earlier today. The company disclosed […]
Africa’s largest miner, Anglo American plc has announced the retirement of Norman Mbazima after 18 years. Mr Mbazima will step down as Deputy Chairman of Anglo American South Africa on 30 June 2019. Mark Cutifani, Chief Executive of Anglo American, said: “Norman Mbazima has made an exceptional contribution to Anglo […]
Shell Offshore Inc., a subsidiary of Royal Dutch Shell plc, said it has signed an agreement yesterday to sell its 22.45% non-operated interest in the Caesar-Tonga asset. The company said in a statement that the US Gulf of Mexico to Delek CT Investment LLC, a subsidiary of Delek Group Ltd […]
Global energy trader, Glencore said it has won contracts worth around $520 million to supply 4.94 million tonnes of coal to Mexico. Mexico’s state-run power utility company, the Federal Electricity Commission (CFE) disclosed this on Tuesday. The utility said in a statement that by offering the best price, Glencore won […]
Nigeria’s Zenith Bank Plc said it has appointed Mr. Ebenezer Onyeagwu as Group Managing Director/Chief Executive of the bank. Zenith Bank said in a statement that his appointment will take effect from June 1, 2019 subject to the Central Bank of Nigeria (CBN) approval. He replaces Mr. Peter Amangbo, whose […]
The largest oil company in the world, Saudi Aramco, has given initial price guidance for its debut international bond. Reuters News reported cited a document issued by one of the banks leading the deal that the bond is split into tranches ranging from three to 30 years. Aramco is offering […]
There are more challenges ahead of Teleology Holdings in its bid to take ownership of 9mobile. This is because a Federal High Court in Abuja which set aside the sale of the telecommunication firm. Justice Binta Nyako gave a ruling voiding all the processes that led to the sale of […]