Business Market World Chip Shortage: Volvo Sales Drop By 20.2 Percent February 2, 2022 akintunde Volvo Car Group’s sales fell 20.2% in January under pressure from the global component shortage, though demand for its products remained strong, the automaker said on Wednesday. Volvo, which has…
Technology World Japan To Tighten Measures Against Cyberattack February 2, 2022 akintunde Japan will consider imposing tighter curbs on companies in security-sensitive sectors that procure overseas software as part of efforts to ramp up steps to counter cyberattacks, according to a proposal…
Technology World Australia’s Aristocrat Take Over Of Playtech Set To Fail February 2, 2022 akintunde Gambling software maker Playtech does not expect its shareholders to approve its proposed takeover by Australia’s Aristocrat, the British company said on Wednesday, adding it was also looking at other…
Banking Local CBN Okays Ahmad Abdullahi Appointment As FBH Chairman February 2, 2022 akintunde The Central Bank of Nigeria (CBN) has okayed the appointment of Alhaji Ahmad Abdullahi as non-executive director of First Bank Holding Plc and chairman of the company to replace Mr.…
Business Market World Panasonic Experience Rise In Operating Cost February 2, 2022 akintunde Japan’s Panasonic on Wednesday posted a larger-than-expected 44% slide in third-quarter operating profit, hit hard by rising costs for raw materials, component shortages and a drop in domestic sales for…
Business Investing Local Market Nigerian Stock Exchange Market Gains 1.04 Per Cent February 2, 2022 akintunde The NGX closed on a positive note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) appreciated by 104 basis points. The NGX ASI closed at 47,111.21 points, to…
Crypto World World’s Second Largest Stablecoin Hits $50 Billion Capitalization February 2, 2022 akintunde The world’s second largest stablecoin by market capitalization just hit the $50 billion mark, according to data from CoinGecko. Circle’s USDC keeps on growing as it erodes the dominance of…
Business Investing Local Nigerian All Share Index Rose By 9% In January February 2, 2022 akintunde The Nigerian All-Share Index posted a gain of 9.1% in the month of January, its best January return in about four years. Stocks have now posted positive returns in January…
Local Technology World Nigeria Startup “Nestcoin” Raises Pre-Seed Capital For Crypto Adoption February 2, 2022 akintunde Nestcoin, a Nigerian tech startup, says it has secured $6.45 million pre-seed capital to accelerate crypto adoptions and web3 operations in frontier markets. Nestcoin is a technology company that develops…
Technology World India To Introduce Digital Rupee In 2022-2023 February 1, 2022 akintunde India’s central bank will launch a digital version of the rupee in the next financial year, the country’s finance minister said on Tuesday. “Introduction of a central bank digital currency…
Local Technology Trade El Salvador Defends It’s Acceptance Of Bitcoin As Legal Tender February 1, 2022 akintunde El Salvador’s government on Monday defended the country’s adoption of Bitcoin as legal tender, rejecting calls from the International Monetary Fund to change course. The IMF last Tuesday warned of…
Business Local Nigeria: Over 15,000 Graduates Applied For Oyo State Traffic Control Job February 1, 2022 akintunde No fewer than 15, 000 university graduates and other youths have applied for the Oyo Road Traffic Management Agency (OYRTMA) job vacancies online. Dr Akin Fagbemi, the Chairman of the…
Investing Local Market MTN Record Oversubscription Of 139.47 Per cent In Share Sales February 1, 2022 akintunde 126,720 retail investors submitted valid applications and received full allotment as MTN Nigeria Communications Plc announced that its first public offer for sale of 575 million shares recorded an oversubscription…
Business World Citrix System Get Taken Into Private In $16.5 Bln Deal February 1, 2022 akintunde Software company Citrix Systems said on Monday it would be taken private for $16.5 billion including debt by affiliates of Elliott Management and Vista Equity Partners, which are seeking to…
Local NASS moves to reduce budget deficit as it sets N3 trillion revenue target for agencies February 1, 2022 akintunde The National Assembly said if resources are prudently spent the Federal Government were capable of generating N3 trillion revenue annually. Lawan said NASS would be strict on increased revenue, and…
Local FG probes 17 firms over breach of customers’ private data, hikes fines February 1, 2022 akintunde A new report reveals the National Information Technology Development Agency engaged in 17 data breach investigations and issued N15m fines in 2021, a new report The Minister of Communications and…
Local MTN subscribers spend N46 billion on SMS February 1, 2022 akintunde According to the earnings press release, MTN Nigeria raked in N46.41 billion from SMS revenue in 2021, representing 2.81% of the total revenue. This means that all 68.5 million MTN…
Local Shoprite nigeria closes Maryland store, reopens Lekki outlet looted during #EndSARS February 1, 2022 akintunde Retail Supermarket owners of Shoprite in Nigeria, have announced plans to reopen the Circle Mall Store located in Jakande, Lekki Lagos. The Jakande and Maryland store was closed following the…
Local Solana’s ecosystem wallet, Phantom, clinches unicorn status as it raises $109 million February 1, 2022 akintunde Phantom, a software wallet and browser extension for the Solana ecosystem has raised $109 million in Series B financing which puts the firm at unicorn status as it is valued…
Local Lawan: Government-owned enterprises can generate N3trn revenue annually February 1, 2022 akintunde Senate President Ahmad Lawan says revenue generating agencies of the federal government are capable of generating N3 trillion annually. Lawan said this on Monday in Abuja at an interactive session…
Local CSO writes FG, demands details of N3tn budgeted for petrol subsidy in 2022 February 1, 2022 akintunde The People’s Alternative Political Movement has asked the federal government to provide details of the N3 trillion budgeted for petrol subsidy in 2022. The group also demanded details of the…
Local Trade NGX: Total activity level declines on reduced local and foreign investors’ participation February 1, 2022 akintunde NGX Domestic & Foreign Investment report for December 2021, The total value traded on the local bourse declined by 19.3% ($363.8million) in December from ($472.5million) in November. Institutional investors still…
Local MTN mobile lending, VAS rakes in N70 billion in 2021 February 1, 2022 akintunde Giant telecom company MTN Nigeria reported a revenue of over N70 billion in 2021 from Value Added Services (VAS) Value-added Services include Backup & welcome back services, airtime lending, mobile…
Africa Local AFEX seeks to raise $175m to finance agro-processors in Africa February 1, 2022 akintunde AFEX one of Nigeria’s commodity players seeks to raise $175 million in its bid to provide low-cost financing to agro-processors in Africa. The commodity exchange firm said the new funding…
World Japan’s Dec Unemployed Rate Drops As Monthly Employment Gain Hits Near 36-Year High February 1, 2022 akintunde The seasonally adjusted unemployment rate in December was lower than the 2.8% in the previous month, which was also the median forecast in a Reuters poll of economists. The seasonally…
Business Technology World Sony To Acquire Videogame Developer ‘Bungie’ In $3.6 Bln Deal February 1, 2022 akintunde Sony Interactive Entertainment will acquire Bungie Inc, the original creator of the “Halo” videogame and developer of “Destiny”, in a deal valued at $3.6 billion, making it the latest in…
Technology World U.S. FTC To Review Microsoft Deal For Activision February 1, 2022 akintunde An antitrust review of Microsoft Corp’s proposed acquisition of Activision Blizzard will be handled by the U.S. Federal Trade Commission (FTC). The FTC will oversee the investigation into whether the…
Banking Local CBN 100 For 100 Policy: 28 Companies Benefitted February 1, 2022 akintunde Godwin Emefiele, governor of the Central Bank of Nigeria(CBN), says 28 companies benefitted from the first cycle of the 100 for 100 policy on production and productivity (PPP). Emefiele said…
Africa Business Local Market Technology Trade Nigeria App For US Stocks, Bamboo Raises $15million Series A funding February 1, 2022 akintunde Bamboo, a Nigerian brokerage app that lets Africans buy and trade US stocks in real-time has secured a $15 million Series A funding round to accelerate its growth across the African…
Local Commercial Bank Gives N2.5Billion Loan To Cocoa And Plantain Farmers Association Of Nigeria February 1, 2022 akintunde The Cocoa and Plantain Farmers Association of Nigeria says it has secured a loan of N2.5bn for its members from a commercial bank to support their farming businesses. The National…
