International Monetary Fund(IMF) Recognizes Global GDP In 2021 To Fall Slightly Below The Prior Forecast Of Six Percent
The International Monetary Fund expects global economic growth in 2021 to fall slightly below its July forecast of 6%, IMF…
Month: October 2021
Brokerage Robinhood Introduces 24 Hours Phone Support After Communications Criticisms
Robinhood Markets Inc said on Tuesday it had introduced 24-hour customer phone support, seven days a week, addressing criticisms over…
Bitcoin Rose Above The $50,000 Mark For First Time In Four Weeks
Bitcoin, the world’s biggest cryptocurrency by market value, rose above the $50,000 mark for the first time in four weeks…
Facebook Outage Shows Need For More Rivals, Says Margrethe Vestager
Facebook’s six-hour outage the previous day shows the repercussions fn relying on just a few big players and underscores the…
EFCC Probes Central Bank Of Nigeria Over Multi-Billion Naira Agric Loan Fraud
The Economic and Financial Crimes Commission (EFCC) has begun an investigation into an alleged multi-billion naira fraud at the Central…
BluePeak Private Capital Raise Capital For Flagship Private Credit And Mezzanine Fund
BluePeak Private Capital, an alternative investment firm with a strong focus on Africa, announced that it has raised capital of…
Crypto Exchange “Yellow Card” Raises $15 Million In Series A Funding
Cryptocurrency exchange, Yellow Card, has announced a $15M Series A, the largest ever by an African cryptocurrency exchange, to ramp…
Stocks Drop Low As Investors Fear Oil Rally Fuels Inflation
Asian shares tracked a broad sell-off on Wall Street to weaken for a third straight session on Tuesday, as investors…
Development Partners International (DPI) Sells Stake In Food Concepts To ACA
Private equity firm Development Partners International (DPI) said on Thursday it has sold about a third of its stake in…
Africa Startup “Andela” Attains Unicorn Status
Andela, a startup that connects African software engineering talent to global companies has raised $200 million from investors led by…
Russia Move To Make First Space Movie
In a historic first, Russia has launched an actor and a film director into space to make a feature film…
1000 Additional Worker Needed For Nigeria Rail Line
The Lagos-Ibadan rail line will employ 1,000 additional workers at the cost of N567.45m per annum. The Managing Director, Nigerian…
Tesla To Pay Former Worker For Damages
A San Francisco federal court decided that Tesla must pay a former worker, Owen Diaz, around $137 million after he…
Airtel Nigeria To Buy Back 8.27% Minority Shareholdings
Airtel Africa has announced that its subsidiary, Airtel Networks Ltd. (Airtel Nigeria), has initiated a process to buy back 8.27…
Pressure On Cost Leads To Purchase Price Inflation
Unfavorable exchange rate movement exerted pressure on cost, leading to a rise in purchase price inflation. Stanbic IBTC Bank Nigeria…
Facebook Lost Billions After Outage
The global economy lost billions of dollars as Facebook, WhatsApp, and Instagram went down at about 4.42pm on Monday. According…
Nigeria Spent N1.47tn On Debt Servicing
Nigeria spent N1.47tn on debt servicing payments in the first half of 2021, data obtained from the Debt Management Office…
Evergrande Crisis Is Affecting China’s Property Market
On the heels of Evergrande’s debt crisis, there are increasing signs of stress in China’s property market after one developer…
Evergrande Set To Sell Part Of Its property Services Unit Stake
Indebted developer Evergrande is set to sell part of its stake in its property services unit, the second asset sale…
Monzo Withdraws Application For U.S. Banking License
British financial technology firm Monzo has withdrawn its application for a U.S. banking license following discussions with regulators at the…
Jaiz Bank Net Revenue Funds To Reach N5.07 Billion By End Of Q4
Jaiz Bank Plc has projected a net operating income of N4.68bn in the fourth quarter of the year 2021. An…
Cloud Exchange Collaborate With Huawei
Cloud Exchange has launched Africa’s first uptime institute tier IV modular prefabricated data centre in collaboration with Huawei. According to…
5G is 100 Times Faster Than 4G
Up to 100 times faster than 4G, 5G, the fifth generation of cellular networks, is creating never-before-seen opportunities for people…
Nigerian Business Has Long Term Potential: Procter & Gamble Company
Procter & Gamble (P&G) is raising Nigeria’s capability to earn foreign exchange (forex) through its ongoing strengthening of manufacturing and…
Insurance Industry’s Gross Premium Income (GPI) Grew By 15%
The Insurance Industry’s Gross Premium Income (GPI) grew by 15 per cent year-on-year to N592.3 billion in the financial year…
World Bank Approve $11.5 Billion Lending
The World Bank has said it approved $11.5bn in lending to Western and Central African countries for 98 operations. The…
Nigeria Exchange Limited To Democratise finance In Nigeria Technology Sector
Capital market regulating bodies and other stakeholders have called on operators in the technology industry to leverage on capital market…
Africans Win At British STEAM Competition
Three youth teams from Nigeria, Ghana and Kenya have celebrated their achievements at the British International Education Association’s 2021 International…
Tesla Top Expectation In Q3
Tesla delivered 241,300 electric vehicles during the third quarter of 2021, the company reported Saturday. The quarter’s deliveries topped expectations. Analysts…