Sampath Bank allots 80% of Rs. 10 b debenture issue to preferred investors

Sampath Bank PLC yesterday said it has allotted 80% of its Rs. 10 billion debenture issue to identified qualified investors on a preferential basis, leaving the remaining 20% to other qualified investors.

The bank will allot 100 million debentures at Rs. 100 each today, exercising its option to issue a further 30 million on top of the initial 70 million. Of these, 80 million go to identified qualified investors, as provided for in Section 6.9 of the prospectus dated 15 October, 2026.

The remaining 20 million debentures go to other qualified investors. Applicants for up to and including 50,000 ‘Type A’ and ‘Type B’ debentures receive their full allocation. Those who applied for more receive 50,000 debentures plus 45.15% of the balance of each application, rounded up to the nearest 100. On that basis, an application for 100,000 debentures would receive 72,600. Any rounding adjustments will be made from the largest applicant under Type B in the other qualified investors category.

The allotment was decided by the bank’s Special Management Committee yesterday, acting under Board approval granted on 12 August, 2026. The debentures are five-year (2026/2031) and seven-year (2026/2033) Basel III-compliant Tier 2 instruments with a non-viability conversion feature.

NGX gains N779bn as Dangote Cement, FCMB lift market

Nigeria’s equities market added N779.3 billion in value on Thursday as renewed buying interest in heavyweight stocks, particularly Dangote Cement, Ecobank Transnational Incorporated and FCMB Group, lifted the benchmark index by 0.47 per cent, pushing its year-to-date return to 63.28 per cent.

The market capitalisation of listed equities rose to N164.97 trillion from the previous session’s level, while the Nigerian Exchange Limited (NGX) All-Share Index advanced to 254,083.02 points, extending the market’s positive performance in October.

Dangote Cement led the rally among heavyweight stocks, appreciating by 5.8 per cent, while FCMB Group gained 3.7 per cent. Ecobank Transnational Incorporated rose by 2.9 per cent, and Access Holdings advanced by 1.9 per cent, supporting the benchmark’s upward movement.

The latest advance lifted the market’s month-to-date return to 1.1 per cent, reinforcing its strong performance in 2026 despite intermittent bouts of profit-taking and uneven performance across sectors.

Trading activity also strengthened considerably, with the total value of transactions rising by 105.54 per cent to N57.36 billion, while volume increased by 61.90 per cent to 654.28 million shares. However, the number of deals fell by 8.18 per cent to 35,821, suggesting that the increase in turnover value was not accompanied by a corresponding rise in transaction count.

First HoldCo dominated the session’s trading activity, accounting for 343.80 million shares valued at N34.78 billion, making it the most traded stock by both volume and value.

Its dominance in turnover came despite a 10 per cent decline in its share price, the steepest among the day’s losers. The divergence between its substantial trading activity and price performance highlighted the intensity of transactions in the stock during the session.

Market breadth remained neutral, with 27 stocks advancing against 27 decliners, translating to a breadth ratio of 1.0 times. The near-even distribution of gainers and losers indicated that the benchmark’s appreciation was driven more by gains in selected heavyweight counters than by a broad-based rally across listed equities.

E-Tranzact International led the advancers, rising by 10 per cent, followed by Sovereign Trust Insurance, which gained 9.6 per cent. FTG Insurance also featured among the leading gainers.

On the losing side, First HoldCo shed 10 per cent, while Livestock Feeds declined by 9.7 per cent, recording the session’s most significant losses.

Sectoral performance was mixed, with industrial goods stocks leading the market’s advances. The industrial goods index gained 3.41 per cent, supported by buying interest in Dangote Cement, while the insurance index rose by 0.75 per cent. The oil and gas index edged up by 0.05 per cent, while the commodities index closed flat.

In contrast, the banking index fell by 2.10 per cent, making it the weakest-performing sector during the session, while consumer goods stocks recorded a marginal decline of 0.06 per cent.

The banking sector’s decline, despite gains in Ecobank Transnational Incorporated and Access Holdings, suggests that losses in other banking stocks outweighed advances in the two counters. This divergence further reflected the selective nature of investors’ positioning across the market.

The industrial goods sector’s strong performance, meanwhile, demonstrated the influence of heavyweight stocks on the overall direction of the benchmark index. Dangote Cement’s 5.8 per cent appreciation provided a significant boost to the market, helping to offset weakness in banking and consumer goods equities.

The increase in market capitalisation to N164.97 trillion also underscored the scale of value accumulated in Nigerian equities this year, with the All-Share Index delivering a 63.28 per cent year-to-date return.

Analysts believe that the market’s ability to sustain its upward trajectory will depend on whether buying interest spreads beyond a handful of heavyweight stocks and provides stronger support across the wider equities market.

Academic activities grounded as LAUTECH ASUU embarks on indefinite strike

Academic and other related activities have been grounded at the Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, as the Academic Staff Union of Universities (ASUU) of the institution proceeded on an indefinite action on Thursday.

The union had earlier given the management of the institution a 14-day ultimatum to address its demands, which include the full implementation of the 2025 FGN-ASUU Agreement alongside its consequent arrears dating from January 2026, as well as the immediate payment of all outstanding Earned Academic Allowances (EAA) and promotion arrears spanning 2013 to 2025.

It noted that while the December 2025 FGN-ASUU Agreement was officially accepted and approved for implementation by the Governing Council of LAUTECH, the administration repeatedly blamed a paucity of funds for its failure to take effect.

Aside from financial demands, the union is also pushing for the resolution of non-financial matters currently before the Vice-Chancellor and the university administration.

These include addressing the distortion of the university governance structure, such as skewed membership of the staff disciplinary committee, the recomposition of the Committee of Provosts and Deans, and transparency concerns surrounding the adopted electronic voting system.

The union, in a statement jointly signed by the branch Chairperson, Prof Olujimi Dada, and the Secretary, Dr Soji Arinola, expressed deep frustration that, despite exploring multiple formal and informal avenues of dialogue, the authorities failed to address their concerns.

It urged all members of the union to remain resolute and to note that only information or directives coming directly from the branch Chairperson remain authentic at all times.

PSEi rebounds to 5,705 on bargain hunting

Local stocks recovered on Thursday as investors bought shares after the previous day’s decline, with gains on Wall Street also lifting sentiment.

The benchmark Philippine Stock Exchange Index (PSEi) climbed 0.92 percent, or 52.03 points, to close at 5,705.58.

The broader all-shares index added 0.38 percent.

Philstocks Financial Inc. attributed the rebound to bargain hunting. The brokerage said positive signals from Wall Street following the US Federal Reserve’s decision to keep its policy rate range unchanged also supported local trading.

Luis Limlingan, head of sales at Regina Capital Development Corp., said the Fed’s decision to keep interest rates unchanged also offered short-term relief to Philippine equities by easing some concerns over further monetary tightening.

‘However, persistent domestic inflation and currency pressures continue to pose risks to the market outlook,’ Limlingan said.

‘While these developments supported the market’s recovery, investors are likely to remain cautious amid ongoing macroeconomic uncertainties and the potential impact on capital flows and corporate earnings,’ he added.

Participation, however, remained thin. Net value turnover stood at P3.30 billion, which Philstocks said suggested weak conviction behind the market’s advance.

Foreign investors also continued to pull funds out of local equities, recording net outflows of P100.69 million despite the index’s recovery.

Sectoral indices ended mixed. Services led the gainers with a 1.91-percent increase, while mining and oil posted the steepest decline at 0.93 percent.

Among the benchmark’s constituents, GT Capital Holdings Inc. recorded the biggest gain, rising 2.82 percent.

DigiPlus Interactive Corp. was the main laggard, losing 2.03 percent.

Analysts said the session’s gains allowed the PSEi to regain the 5,700 level, although subdued turnover and foreign selling tempered the recovery.

Lyca Gairanod resumes studies after song ‘Puede Nang Mangarap’ resurgence

Lyca Gairanod has returned to school to pursue her long-time dream of finishing her education, as her song ‘Puede Nang Mangarap’ gains renewed popularity on TikTok.

During the announcement of the nationwide karaoke competition TNT SayaOke, Gairanod shared that she has returned to school after previously stopping her studies.

‘Nag-start na akong mag-aral uli. So gusto ko makapagtapos. Nag-stop po ako. Now, nag-accelerate ako to senior high,’ she said.

Asked what she tells people who ask if they can already pursue their dreams, the singing champion encouraged them to go for their aspirations regardless of time or circumstance.

‘Sabi ko, anytime you want. Anywhere. Sa pangarap, wala namang oras yan eh. Anytime pwede,’ she said.

Her song ‘Puede Nang Mangarap,’ which was released in 2015, has recently gained traction on TikTok, bringing renewed attention to the singer and opening up opportunities for guest appearances.

During the event, the young singer also highlighted the importance of opportunities for aspiring singers, particularly through competitions that allow them to showcase their talent.

‘Minsan, isang opportunity lang talaga ang kailangan mo sa buhay. Kaya mahalaga ang mga contest tulad ng TNT SayaOke sa pagbibigay sa mga Pinoy ng chance para maipakita ang talento nila sa mas maraming tao at ma-inspire sila na magpatuloy lang sa pagkamit ng kanilang mga pangarap,’ she said.

SayaOke

Meanwhile, TNT and Viva are giving aspiring Filipino singers a chance to pursue their musical ambitions through SayaOke, a nationwide karaoke competition.

A total of 48 finalists from Luzon, Visayas, and Mindanao have advanced to the competition’s weekly live showdowns after being selected from auditions submitted through the Vivaoke app.

The finalists include 24 singers from Luzon, 12 from the Visayas, and 12 from Mindanao. Each weekly showdown will offer P300,000 in cash prizes and give participants an opportunity to showcase their talents to a nationwide audience.

One of the seven weekly winners will also have the chance to receive a recording contract from Viva Music.

MG Mozo, president of Viva Music Publishing Inc., said the competition aims to discover promising Filipino talent and provide them with opportunities.

‘TNT SayaOke is an exciting opportunity to discover promising Filipino talent and give aspiring singers a chance to be heard. We are especially excited to offer one of the seven weekly winners a recording contract, allowing a standout talent to pursue a music career,’ Mozo said.

Viva artist Krissha Viaje, who is part of the cast of the Viva One series ‘Our Yesterday’s Escape,’ also attended the announcement. Having started pursuing her passion for singing at a young age through local and international competitions, Viaje emphasized the importance of perseverance in achieving one’s goals.

‘Kailangan talaga ng patience and hard work para makamit ang iyong pangarap. Dapat matibay ang tiwala mo sa sarili, at wag palampasin ang mga opportunity na maipakita ang talent mo sa mundo,’ she said.

16 teams compete as foundation awards N1.1m in Osun football tournament

The Femi Bewaji Foundation awarded N1.1 million in cash prizes to teams that participated in its grassroots football tournament, which featured 16 teams from the Oriade and Obokun Local Government Areas of Osun State.

Oba Ayodeji FC emerged champions of the competition, winning the top prize of N500,000, while the first runners-up received N300,000. The second and third runners-up went home with N200,000 and N100,000, respectively.

The final match was played on October 1, 2026, in Ijebu-Ijesha, giving young footballers a chance to showcase their talents while promoting teamwork, mutual respect, and peaceful coexistence among participating communities.

The tournament was organised as part of the Foundation’s commitment to youth empowerment, grassroots sports development and community engagement.

The final ceremony attracted royal fathers and other dignitaries, including the Elegboro of Ijebu-Ijesha, Oba Engr. Moses Oluwafemi Agunsoye; the Elere of Ere-Ijesha, Oba Augustine Adenipekun Alowolodu; and the Oniwoye of Iwoye-Ijesa, Oba Ogidiolu Amos Adewumi.

Their presence highlighted the importance of community support for initiatives aimed at creating opportunities for young people and strengthening relationships among communities.

Beyond the competition, the tournament provided a platform for young people from Oriade and Obokun local government areas to interact, build friendships and engage in healthy competition through sports.

The Foundation said the initiative reflected its commitment to discovering and developing grassroots sporting talents while using football to encourage discipline, teamwork and mutual understanding among youths.

It added that youth development remained central to its efforts to build stronger communities and promote peaceful coexistence.

Davao de Oro military ready to help police hunt Bato dela Rosa

The Philippine Army’s 10th Infantry Division (10ID) said on Thursday it is ready to help police arrest Sen. Ronald ‘Bato’ dela Rosa, whose one-week ultimatum to surrender ends on Friday.

The former national police chief is wanted by the International Criminal Court (ICC) for alleged crimes against humanity during the bloody war on drugs during the Duterte administration.

Maj. Ruben Gadut, 10ID spokesperson, said their division is prepared to provide critical intelligence and logistical support to the Philippine National Police (PNP) in the high-stakes pursuit of dela Rosa,

The 10ID’s area of operation (AOR) covers the Davao Region, where dela Rosa is a native.

In a Viber message to the Inquirer, Gadut deferred operational specifics to police leadership while confirming no sightings of dela Rosa in the Davao Region.

‘This is a matter of law enforcement. The PNP should be the appropriate agency to release statements [on the manhunt],’ Gadut said.

He corroborated statements made by the Police Regional Office-11 (PRO-11) during a media briefing at the Mandaya Hotel in Davao City on Wednesday.

‘About sightings, PRO-11 stated yesterday in a media presscon at the Mandaya Hotel that there were no sightings in their AOR. I think that would suffice, coming from the PNP,’ Gadut added.

Last October 23, Interior Secretary Jonvic Remulla gave dela Rosa one week to surrender. He also announced a P50 million reward for the senator’s arrest.

Dela Rosa’s camp – led by legal counsel Israelito Torreon – warned that the P50-million bounty could spur vigilante action against the senator.

Torreon also assailed the bounty, saying that the senator is not wanted under Philippine laws.

Dela Rosa’s former commander-in-chief, ex-President Rodrigo Duterte, remains detained at the ICC Detention Center in The Hague, awaiting the opening of his trial on November 30 over the deadly war on drugs

Body found near Olongapo solar farm; police probe awaited

A body was found near a solar farm in Old Cabalan, Olongapo City, on Thursday, Oct. 29, prompting a coordinated retrieval operation involving local disaster responders and police.

In a statement, the City Disaster Risk Reduction Management Office said a phone call reporting the discovery was received on Thursday.

The information was also relayed to the Philippine National Police and the Barangay Old Cabalan Rescue Team.

The responders coordinated the retrieval of the body from rugged mountain terrain near the solar farm.

The circumstances surrounding the death, including the identity of the deceased and the cause of death, were not immediately available.

Nanny Academy pushes for decent work, professional recognition for caregivers

The Nanny Academy, a caregiver training and placement institution in Nigeria, has called for better wages, stronger social protection and greater professional recognition for care workers, warning that the people providing essential care remain largely undervalued.

The academy made the call to mark the International Day of Care and Support, observed on 29 October, under the theme, ‘Building sustainable care and support systems through decent work’.

It urged the government, employers, families and development partners to recognise care work as skilled employment deserving fair remuneration, safe working conditions and access to health insurance.

Care work supports families and the wider economy by enabling parents to work, providing assistance to older people and ensuring that children receive the attention needed for healthy development.

However, much of the work in Nigeria remains informal, leaving many caregivers without adequate employment protection or recognition of their professional skills.

Amara Agbim, founder and chief executive officer of The Nanny Academy, said the institution had spent 16 years promoting the professionalisation of care work.

‘We have spent 16 years insisting that care is skilled work,’ she said.

‘A job is not decent just because it pays something. It has to be enough, stable and safe. That is the standard we hold ourselves to, and the one we are asking the whole sector to adopt.’

Founded in 2010, the academy said it had trained and placed more than 20,000 caregivers, with approximately 1,000 women trained annually and a placement rate of 90 per cent.

According to the institution, its placement system includes written employment terms, payment through commercial bank accounts rather than cash, and health maintenance organisation (HMO) insurance coverage.

The academy also said it treated Nigeria’s national minimum wage of ?70,000 as a minimum benchmark for care workers while encouraging employers to offer better remuneration where possible.

It argued that professional training and recognised qualifications were important to moving caregivers from informal employment into more structured work.

Its programmes are accredited by the National Board for Technical Education (NBTE) and the Qualifications and Vocational Skills Education (QVSE) framework, while its training includes National Skills Qualification (NSQ) certification.

Through CareFrontier, its newsletter on the care economy, the academy also advocates improved pay and working conditions for caregivers.

Its 2026 Salary and Wages Survey, currently underway, is expected to provide further information on remuneration in the sector.

Ms Agbim said care work was frequently described as domestic help rather than a profession, despite the skills and responsibilities involved.

‘We don’t want househelps, we want professionals,’ she said, describing the position that has guided the academy’s work.

The institution is also a member of the Nigerian Care Coalition and said it had worked with Caring Africa to develop a draft national care policy framework for discussion.

Care workers seek a voice in policymaking

Beyond wages and employment protection, the academy said frontline caregivers should have a greater role in shaping policies affecting childcare, eldercare and women’s economic participation.

It cited the participation of Comfort, a governess trained by the institution, in a national panel on delivering early childhood development at the last mile during GS-26 in Abuja in September.

Comfort joined government and development-sector representatives to discuss early childhood development, drawing on her practical experience caring for young children in the home.

The academy said her participation demonstrated the value of allowing people directly involved in care delivery to contribute to policy discussions.

‘When a caregiver can sit on a national panel and speak from her own experience, it says what training and recognition make possible,’ Ms Agbim said.

‘Decent work does not stop at the pay slip. It includes having a voice.’

The academy called on policymakers, development partners and private-sector organisations to involve home-based caregivers, creche operators and other frontline workers in consultations on early childhood development, eldercare and women’s economic participation.

It also urged the government and employers to establish and publish wage and working-condition benchmarks for different care roles, arguing that clear standards would help workers and families negotiate employment terms more effectively.

Other recommendations include extending social protection, particularly health insurance, to caregivers employed by families, agencies and institutions, as well as recognising care work in public policy and procurement decisions.

Ms Agbim said building a sustainable care economy required attention to the welfare of the people delivering these services.

‘Care is the future. It cannot be automated,’ she said.

‘If we want a care economy that is sustainable, the people at the centre of it have to be able to build a decent life from it.’

The academy operates centres in Lagos and Abuja, training nannies, housekeepers and caregivers for placement with families and institutions.

Sri Lanka, Germany seek further strengthening of bilateral relations

Sri Lanka is seeking to expand cooperation with Germany in trade, investment, tourism and education, Finance and Planning Deputy Minister Dr. Anil Jayantha Fernando said.

Speaking at the German Unity Day reception in Colombo on 26 October, 2026, Dr. Fernando reaffirmed Sri Lanka’s commitment to closer economic cooperation and new areas of collaboration with Germany.

Germany is Sri Lanka’s fourth-largest export market, with exports exceeding $ 700 million in 2025, the Ministry of Finance, Planning and Economic Development said. More than 160 German companies operate in Sri Lanka. Germany was also Sri Lanka’s fourth-largest tourism source market in 2025, with 147,966 arrivals.

Dr. Fernando acknowledged the role of the Delegation of German Industry and Commerce (AHK Sri Lanka) and the Sri Lanka-Germany Business Council in building business partnerships. He thanked Germany for its support following Cyclone Ditwah and welcomed the recent visit of the German Parliamentary Friendship Group for South Asia to Sri Lanka.

Germany has also supported Sri Lanka in development cooperation, education and vocational training, including through the Ceylon German Technical Training Institute (CGTTI). More than 120,000 Sri Lankans live in Germany. The two countries established diplomatic relations in 1953.