Local Market Forex Inflows Into Nigeria Increase By 64% To $30bn In The Q3 Of 2021 January 6, 2022 akintunde The amount of foreign exchange that entered Nigeria in the third quarter of 2021 increased by 64% to $30.18 billion, up from $18.4 billion in the previous quarter. This is…
Business Local Market Manufacturers Kick Against Excise Duty On Soft Drinks January 6, 2022 akintunde The Manufacturers Association of Nigeria (MAN) has kicked against the Federal Government imposed excise duty on all non-alcoholic and carbonated beverages. Mr Segun Ajayi-Kadir, the Director-General of MAN, said the…
Local German cartel office steps up examination of Google products January 6, 2022 akintunde Germany’s cartel office examines Google’s use of personal data and its Google News Showcase product under its new powers to regulate internet companies The regulator said on Wednesday it had…
Local European markets set to drop sharply at the open following U.S. sell-off January 6, 2022 akintunde European stocks awaits to open sharply lower following losses that saw the Dow Jones notching its first decline of 2022. European markets are set to follow their Asia-Pacific counterparts lower…
Business Market World Walmart Halves Paid Leave For COVID-Positive Workers January 6, 2022 akintunde Walmart workers in the United States who must isolate or who have tested positive for COVID-19 will receive one week of paid leave instead of two under a new policy…
Africa Business Local Market Airtel Africa’s Shares Hit All-Time High On NGX After Asset Sale In Tanzania January 6, 2022 akintunde The shares of Airtel Africa hit an all-time high price of N1,050.50 on Wednesday, gaining a maximum of 10 percent. Earlier on Wednesday, the telecommunications company announced the first closing…
Business Local Market Trade Nigeria: Coke, Fanta Prices To Increase As FG Imposes N10/Litre Excise Duty On Carbonated Drinks January 6, 2022 akintunde The federal government has introduced an excise duty of N10 per litre on all non-alcoholic, carbonated and sweetened beverages. Excise duty is a form of tax imposed on the production,…
Local Market Trade Nigeria: Fed Govt Set To Reduce Workforce January 6, 2022 akintunde The Federal Government is set to reduce its workforce. It is designing what it calls an exit package for government workers that will be leaving the service. Minister of Finance,…
Business Market Trade World Japan’s Nikkei 225 Drops Nearly 3% As Asia-Pacific Markets Largely Fall January 6, 2022 akintunde Shares in Asia-Pacific declined on Thursday following losses overnight that saw the Dow Jones Industrial Average notching its first decline of 2022. In Japan, the Nikkei 225 slipped 2.88% to…
Business World Grammy Awards Postponed Indefinitely Amid Omicron-Fueled Covid Surge January 6, 2022 akintunde The 64th annual Grammy Awards show has been postponed indefinitely amid a resurgence of Covid cases, fueled by the omicron variant. “The health and safety of those in our music…
Business World Nike Sues Lululemon Over Mirror Home Gym January 6, 2022 akintunde Nike on Wednesday filed a lawsuit accusing Lululemon Athletica of patent infringement for making and selling the Mirror Home Gym and related mobile apps without authorization. In a complaint filed…
Business Technology World Meta Sets Out Grounds For UK Appeal On Giphy January 6, 2022 akintunde Facebook-owner Meta has applied to appeal a British competition watchdog ruling that it must sell Giphy on grounds that include challenging the finding that the deal removed a potential competitor…
Business Technology World Tencent’s WeChat Mini Daily Users In China Grew 13% To 450 Million Last Year January 6, 2022 akintunde Tencent Holdings’ (0700.HK) Weixin, China’s dominant messaging app which is known as WeChat outside the country, said on Thursday that average daily active users for its mini programs hit 450…
Local AMCON lists 7,912 names owing N4.4tn as deadline expires today January 5, 2022 akintunde The Asset Management Corporation of Nigeria is set to publish names of Loan debtors owing it a total of N4.4tn. The move follows the expiration of the 30-day ultimatum given…
Local US aviation, telecom groups agree on 5G data sharing January 5, 2022 akintunde Aviation and telecom groups in the United States have said they will share data to help resolve safety concerns related to new 5G wireless service. Aviation groups and the Federal…
Local Foreshore Waters Secures N2.4bn BOI Facility January 5, 2022 akintunde Foreshore Waters Limited has secured a N2.4 billion loan facility from the Bank of Industry to support the company’s growth and expansion plans. The facility will be utilized to further…
Business Toyota Will Not Compromise Quality, Says TNL January 5, 2022 akintunde Toyota Nigeria says it will not compromise on quality of vehicles, spare parts and after-sale services. It noted that Toyota had over the years remained among top brands in the…
Banking Local Opinion Review forex ban on 40 items to save naira, economists tell CBN January 5, 2022 akintunde The Centre for the Promotion of Private Enterprise, has advised the Central Bank of Nigeria to review its ban on some of the over 40 items which the regulator has…
Local U.S. SEC charges Medallion taxicab lender with fraud, shares tumble January 5, 2022 akintunde The U.S. Securities and Exchange Commission charged Medallion Financial Corp and its president with fraud. They were charged for trying to inflate the stock price of the lender to taxicab…
Local Opinion Asset Sales To Dominate Nigeria’s Oil Sector, Says Analyst January 5, 2022 akintunde Nigeria is likely to contend with a gale of divestments by international oil companies, According to the global provider of energy information While hanging onto their most efficient projects, oil…
Local Nigeria: We’ll partner govt to reduce unmetered customers – IBEDC January 5, 2022 akintunde Ibadan Electricity Distribution Company Plc has re-inaugurated the Meter Asset Provider Scheme efforts to enhance meter rollout across its areas of operations. The Chief Operating Officer of the company, John…
Local Market With 50% Increase, Oil Price Records Biggest Annual Gain Since 2009 January 5, 2022 akintunde Oil prices fell at the weekend but still posted the biggest annual gains since 2009, spurred by the global economic recovery from the COVID-19 pandemic and producers’ restraint. Brent, Nigeria’s…
Technology World Tencent Raises $3 Bln By Trimming Stake In Shoppee-Owner Sea January 5, 2022 akintunde Chinese gaming and social media company Tencent Holdings Ltd (0700.HK) has raised $3 billion by selling 14.5 million shares at $208 each in Sea, which owns e-commerce firm Shoppe, according…
Business Technology World China’s Market Regulator Fines Alibaba, Tencent For Failing To Report Deals January 5, 2022 akintunde China’s top market regulator said on Wednesday it has fined units of Alibaba Group Holding Ltd (9988.HK), Tencent Holdings Ltd (0700.HK), and Bilibili Inc for failing to properly report about…
Business Technology World Foxconn India iPhone Plant Extends Closure, Workers’ Hostels Inspected -Source January 4, 2022 akintunde A Foxconn iPhone factory in India at the center of a mass food-poisoning incident will extend a week closure by three days. The factory with 17,000 people, is due to…
Local BREAKING: Buhari Appoints Doyin Salami Chief Economic Adviser January 4, 2022 akintunde President Muhammadu Buhari has appointed Dr Doyin Salami as his Chief Economic Adviser. This was disclosed by the Special Adviser to the President on Media and Publicity, Femi Adesina. The…
Banking Market World Turkish Lira Slips As Inflation Seen Soaring Higher January 4, 2022 akintunde The lira slid as much as 4% against the dollar on Tuesday as Turkey girded for inflation to rise further after touching a 19-year peak, even as President Tayyip Erdogan…
Banking Business Features Local Opinion Sonny Odogwu, Access Bank And N50 Billion Debt January 4, 2022 akintunde Many years ago, I sat in the office of a big man who shall remain nameless- and he expressed serious concerns about what would happen after his demise. He had…
Business Investing World Dubai’s Global Ventures Close To Raising $100 Mln Target For Second Fund January 4, 2022 akintunde Dubai-based Global Ventures is close to meeting a $100 million target for its new fund after attracting investments from Abu Dhabi and Saudi Arabia’s state investors, insurer Bupa Arabia (8210.SE)…
Africa Business Investing Alitheia IDF Hits Target With Gender-Lens Fund’s Final Close January 4, 2022 akintunde The management of Alitheia IDF (AIF), Africa’s women-led and women-focused private equity fund. It announced the final close of the $100 million fund with European Investment Bank (EIB) joining as…
