Real Estate World Shares of Chinese developer Shimao jump on report that it’s selling all of its real estate projects January 10, 2022 akintunde Shares of Shimao spiked nearly 7% on Monday after Chinese business publication Caixin reported the embattled developer is selling all of its real estate projects, both residential and commercial. As…
Business Market Technology World Sonos Wins Google Import Ban Ruling In U.S. Patent Fight January 10, 2022 akintunde A U.S. trade court barred Google late Thursday from importing products that infringe home-audio company Sonos’ smart-speaker patents. The U.S. International Trade Commission affirmed an August decision that Google audio…
Local Oil price nears $83 as fears over Omicron ease January 10, 2022 akintunde Global oil prices continued to gain ground above $80 per barrel on Friday, helped by a growing consensus that demand remained surprisingly resilient to the current Omicron-led wave of COVID-19…
Africa Health Local Investor group backs mPharma’s Series D with $35mln January 10, 2022 akintunde MPharma health tech startup is building a network of community pharmacies across Africa, with plans to be the primary healthcare service provider. MPharma plans to grow its community pharmacies across…
Africa Investing Local Google chooses SafeBoda for Africa fund’s first deal January 10, 2022 akintunde Google’s first investment from its Africa Investment Fund has gone to SafeBoda, a transport startup with operations in Uganda & Nigeria. The Investment Fund aims at SafeBoda’s growth in Uganda…
Local Nigeria:FG seeks to increase revenue to 15% of GDP January 10, 2022 akintunde The Federal Government has said it will increase its revenue to 15 per cent of Gross Domestic Product by 2025. It disclosed this in its National Development Plan 2021-2025, saying…
Business Local Market Trade Heirs Holdings Launches Tender On OML 17 January 10, 2022 akintunde Heirs Holdings has launched a tender for work on the Elelenwa multi-phase pump gathering station, on OML 17 in Nigeria. The tender is coming close to a year after the…
Business Local Nigeria: Capital Importation Rises 97% To $1.73bn In Q3’21 January 10, 2022 akintunde The National Bureau of Statistics, NBS, has said that capital importation rose sharply, quarter-on-quarter (QoQ) by 97 percent to $1.73 billion in the third quarter of last year (Q3’21) from…
Local FG spent $1.68bn on food imports in nine months – CBN January 8, 2022 akintunde Central Bank of Nigeria has said FG spent about $1.68bn on food importation from January to September 2021 The CBN disclosed this in a report on sectoral utilization of foreign…
Business Investing Local Nigeria: FG projects 233% increase in FDI, eyes $5bn January 8, 2022 akintunde Nigerian FG has said it will increase Foreign Direct Investment into Nigeria from $1.5bn in 2022 to $5bn by 2025 The projected increase in FDI will aid improve the country’s…
Local Manchester United Announces New Chief Executive Officer January 8, 2022 akintunde Manchester United has announced former Group MD Richard Arnold, as Chief Executive Officer of the Club, effective from February 2022. Ed Woodward will step down from his role as Executive…
Local Samsung Electronics Q4 profit jumps on server chip demand, foundry margins January 8, 2022 akintunde In four years, Samsung Electronics Ltd said its fourth-quarter operating profit likely jumped 52% on-year to its highest. The accomplishment was made possible by solid demand for server memory chips…
Local Bed Bath & Beyond CEO Says Losing $100 Million In Q3 Sales Hurts But Signals Strong Shopper Demand January 8, 2022 akintunde Bed Bath & Beyond CEO Mark Tritton expressed disappointment over the retailer’s supply-chain issues in its third quarter, while also suggesting there’s a silver lining to be found. The company…
Business Technology World Goldman-Backed Digital Bank Starling Boycotts Meta Over Scam Ads January 7, 2022 akintunde British digital bank Starling says it is boycotting Facebook parent company Meta over its failure to tackle fraudulent financial adverts. Anne Boden, Starling’s CEO and founder, said her firm would…
Business Technology World Google Acquires Israel-Based Cybersecurity Startup, Siemplify For $500 Million January 7, 2022 akintunde American multinational technology company, Google has acquired Siemplify, an Israel-based cybersecurity startup that specializes in end-to-end security services for enterprises, referred to as security orchestration, automation and response (SOAR) services.…
Business Local Market Trade Nigeria’s Three Big Firms Gained N1.15tn In 2021 – NGX January 7, 2022 akintunde The three biggest companies listed on the nation’s stock exchange gained a total of N1.15tn last year, data obtained from the Nigerian Exchange Limited have shown. The companies, namely Dangote…
Investing Local Nigeria Finance Act: Investors To Pay 10% Tax On Sale Of Shares In Any Nigerian Company January 7, 2022 akintunde Investors on the Nigerian Stock Exchange are to pay a Capital Gains Tax of 10% on the sale of shares. This is according to provisions of the signed Finance Act…
Banking Local CBN’s Quarterly Forex Intervention Drops By $930m January 7, 2022 akintunde The Central Bank of Nigeria’s foreign exchange intervention in the economy declined by $930m in the third quarter of 2021 to $4.03bn from $4.96bn in Q2. The CBN disclosed this…
Technology World Google To Improve ‘Android To Windows PC’ Integration January 7, 2022 akintunde Google has announced it is investing in more helpful ways to make android and windows PC devices work better. The tech giant during the CES 2022 said it is working…
Business Technology World Tech Company STMicro Reports Higher Than Expected Q4 Sales, Lifting Its Shares January 7, 2022 akintunde Franco-Italian chipmaker STMicroelectronics said its preliminary fourth-quarter revenues were slightly above the guidance given at the end of October, in the context of a global microchip supply crunch, which gave…
Local Market Nigeria: Cooking Gas Price Drops, Supply Rises, Govt Projects Further Decrease January 7, 2022 akintunde The Federal Government on Thursday said it was putting measures in place to ensure further reduction in the cost of Liquefied Petroleum Gas, popularly called cooking gas. It disclosed this…
Local Nigeria Senate Digs Into $679m Unremitted Revenue From Ports Concession January 7, 2022 akintunde The Senate has uncovered how the Bureau of Public Enterprise (BPE) failed to remit $679.4 million realized from the concession of various ports to 23 companies. The Senate Committee on…
Local Nigeria: FG Posts N7trn Deficit, Elated Over N1.Trn Independent Revenues January 7, 2022 akintunde The federal government recorded a budget deficit of N7. 052 trillion as at November last year, in the implementation of the 2021 budget. The aggregate 2021 budget deficit had been…
Business Technology World GameStop Shares Surge On Plan To Enter NFT, Crypto Markets January 7, 2022 akintunde GameStop Corp is launching a division to develop a marketplace for nonfungible tokens (NFTs) and establish cryptocurrency partnerships, a source familiar with the matter said on Thursday, boosting the video…
Business World Singaporean Richest Billionaire, Forrest Li, Loses $10 Billion Of His Fortune January 7, 2022 akintunde Forrest Li, Chairman and Chief Executive officer of Sea Ltd recently lost a huge chunk of his fortune. Li lost about $10 billion of his fortune since the American depositary…
Local KFC Kenya considers sourcing potatoes locally after uproar January 6, 2022 akintunde Kentucky Fried Chicken (KFC), an international fast food restaurant chain, Kenya, says it will start sourcing potatoes locally. According to reports, KFC Kenya concluded to source potatoes from Kenyan farmers…
Local Nigerians to pay VAT for digital services – Finance minister January 6, 2022 akintunde FG has introduced a policy requiring foreign companies that provide digital services in the country to collect and remit Value Added Tax to the Federal Inland Revenue Service. Minister of…
Local Nigeria:We Generated N188.64bn At Onne Port In 2021 – Say Customs January 6, 2022 akintunde The Area ll Command of the Nigeria Customs Service Port in Onne said it generated N188.64bn in 2022, compared to the N69.68bn in 2020. The Area Controller of the command,…
Local Once-Indispensable BlackBerry Smartphone Ceases To Exist January 6, 2022 akintunde Canadian firm BlackBerry Ltd said it will take steps to decommission legacy services for its 10 and OS operating systems By this announcement the company has shut down support for…
Local Technology FG: Amazon, AliExpress to pay 6% tax on profits made from Nigerian customers January 6, 2022 akintunde Nigerian FG says non-resident companies are mandated to remit 6% of turnover from digital services provided to Nigerian customers. An NRC is a company not registered or incorporated in Nigeria…
