Oil price

Lagos, Nov. 10: Nigerian oil minister Odein Ajumogobia has said there is no fundamental justification for the prices of oil to be at $100 a barrel and Nigeria is assuming that the prices will not remain at this level. Ajumogobia, who will go to Riyadh next week to attend an Opec heads-of-state summit on November 17, said no one in the oil exporters’ group would be surprised if prices fell to $80 in the next few weeks. Oil futures in New York struck a record high of $98.62 a barrel on Wednesday.

Securitas buy

Stockholm, Nov. 10: Swedish security services firm Securitas has signed a deal to buy a 49 per cent stake in Indian firm Walsons as part of its strategy to grow in Asia. Securitas will pay 107 million Swedish crowns ($17 million) for the holding.