Shares of Chinese developer Shimao jump on report that it’s selling all of its real estate projects
Shares of Shimao spiked nearly 7% on Monday after Chinese business publication Caixin reported the embattled developer is selling all…
Month: January 2022
Sonos Wins Google Import Ban Ruling In U.S. Patent Fight
A U.S. trade court barred Google late Thursday from importing products that infringe home-audio company Sonos’ smart-speaker patents. The U.S.…
Oil price nears $83 as fears over Omicron ease
Global oil prices continued to gain ground above $80 per barrel on Friday, helped by a growing consensus that demand…
Investor group backs mPharma’s Series D with $35mln
MPharma health tech startup is building a network of community pharmacies across Africa, with plans to be the primary healthcare…
Google chooses SafeBoda for Africa fund’s first deal
Google’s first investment from its Africa Investment Fund has gone to SafeBoda, a transport startup with operations in Uganda &…
Nigeria:FG seeks to increase revenue to 15% of GDP
The Federal Government has said it will increase its revenue to 15 per cent of Gross Domestic Product by 2025.…
Heirs Holdings Launches Tender On OML 17
Heirs Holdings has launched a tender for work on the Elelenwa multi-phase pump gathering station, on OML 17 in Nigeria.…
Nigeria: Capital Importation Rises 97% To $1.73bn In Q3’21
The National Bureau of Statistics, NBS, has said that capital importation rose sharply, quarter-on-quarter (QoQ) by 97 percent to $1.73…
FG spent $1.68bn on food imports in nine months – CBN
Central Bank of Nigeria has said FG spent about $1.68bn on food importation from January to September 2021 The CBN…
Nigeria: FG projects 233% increase in FDI, eyes $5bn
Nigerian FG has said it will increase Foreign Direct Investment into Nigeria from $1.5bn in 2022 to $5bn by 2025…
Manchester United Announces New Chief Executive Officer
Manchester United has announced former Group MD Richard Arnold, as Chief Executive Officer of the Club, effective from February 2022.…
Samsung Electronics Q4 profit jumps on server chip demand, foundry margins
In four years, Samsung Electronics Ltd said its fourth-quarter operating profit likely jumped 52% on-year to its highest. The accomplishment…
Bed Bath & Beyond CEO Says Losing $100 Million In Q3 Sales Hurts But Signals Strong Shopper Demand
Bed Bath & Beyond CEO Mark Tritton expressed disappointment over the retailer’s supply-chain issues in its third quarter, while also…
Goldman-Backed Digital Bank Starling Boycotts Meta Over Scam Ads
British digital bank Starling says it is boycotting Facebook parent company Meta over its failure to tackle fraudulent financial adverts.…
Google Acquires Israel-Based Cybersecurity Startup, Siemplify For $500 Million
American multinational technology company, Google has acquired Siemplify, an Israel-based cybersecurity startup that specializes in end-to-end security services for enterprises,…
Nigeria’s Three Big Firms Gained N1.15tn In 2021 – NGX
The three biggest companies listed on the nation’s stock exchange gained a total of N1.15tn last year, data obtained from…
Nigeria Finance Act: Investors To Pay 10% Tax On Sale Of Shares In Any Nigerian Company
Investors on the Nigerian Stock Exchange are to pay a Capital Gains Tax of 10% on the sale of shares.…
CBN’s Quarterly Forex Intervention Drops By $930m
The Central Bank of Nigeria’s foreign exchange intervention in the economy declined by $930m in the third quarter of 2021…
Google To Improve ‘Android To Windows PC’ Integration
Google has announced it is investing in more helpful ways to make android and windows PC devices work better. The…
Tech Company STMicro Reports Higher Than Expected Q4 Sales, Lifting Its Shares
Franco-Italian chipmaker STMicroelectronics said its preliminary fourth-quarter revenues were slightly above the guidance given at the end of October, in…
Nigeria: Cooking Gas Price Drops, Supply Rises, Govt Projects Further Decrease
The Federal Government on Thursday said it was putting measures in place to ensure further reduction in the cost of…
Nigeria Senate Digs Into $679m Unremitted Revenue From Ports Concession
The Senate has uncovered how the Bureau of Public Enterprise (BPE) failed to remit $679.4 million realized from the concession of…
Nigeria: FG Posts N7trn Deficit, Elated Over N1.Trn Independent Revenues
The federal government recorded a budget deficit of N7. 052 trillion as at November last year, in the implementation of…
GameStop Shares Surge On Plan To Enter NFT, Crypto Markets
GameStop Corp is launching a division to develop a marketplace for nonfungible tokens (NFTs) and establish cryptocurrency partnerships, a source…
Singaporean Richest Billionaire, Forrest Li, Loses $10 Billion Of His Fortune
Forrest Li, Chairman and Chief Executive officer of Sea Ltd recently lost a huge chunk of his fortune. Li lost…
KFC Kenya considers sourcing potatoes locally after uproar
Kentucky Fried Chicken (KFC), an international fast food restaurant chain, Kenya, says it will start sourcing potatoes locally. According to…
Nigerians to pay VAT for digital services – Finance minister
FG has introduced a policy requiring foreign companies that provide digital services in the country to collect and remit Value…
Nigeria:We Generated N188.64bn At Onne Port In 2021 – Say Customs
The Area ll Command of the Nigeria Customs Service Port in Onne said it generated N188.64bn in 2022, compared to…
Once-Indispensable BlackBerry Smartphone Ceases To Exist
Canadian firm BlackBerry Ltd said it will take steps to decommission legacy services for its 10 and OS operating systems…
FG: Amazon, AliExpress to pay 6% tax on profits made from Nigerian customers
Nigerian FG says non-resident companies are mandated to remit 6% of turnover from digital services provided to Nigerian customers. An…