Samsung Unveils New Foldable Smartphones.
Samsung Electronics (005930.KS) unveiled its latest high-end foldable smartphones; keeping prices at the same level as last year’s in a bid to cement its leadership in an expanding niche market.…
EU To Stand Firm In Clash With Poland Over Cash, Officials Say.
Brussels is unlikely to back down on its demand that Poland respect the rule of law to receive post-pandemic recovery funds; despite threats from Warsaw that it could block decision-making…
Sterling slumps 0.5% vs euro ahead of UK GDP data.
Sterling fell against the euro a day ahead of gross domestic product (GDP) figures which are to show further signs of a weakening British economy. The pound is one of…
Indian Govt Working With Cenbank To Control Inflation.
India’s federal government is working with its central bank to take measures and control inflation, a top government source said on Thursday. Inflationary pressure has not eased yet but should…
Google Opposes Facebook-backed Proposal For Self-Regulatory Body In India.
Google has grave reservations about developing a self-regulatory body for the social media sector in India to hear user complaints; though the proposal has support from Facebook and Twitter (TWTR.…
40 Technical Colleges to Benefit from World Bank Environmental Safeguard Measures.
An estimated 40 Technical Colleges in Nigeria alongside the private sector would benefit from the World Bank; assisted project which is set to prioritise environmental and social safeguard measures. This…
Nigerian President Withholds Approval Of Exxon Mobil’s Asset Sale.
Nigeria’s President Muhammadu Buhari has withheld his initial approval of Exxon Mobil’s (XOM. N) sale of local offshore shallow water assets to Seplat; his spokesman said, after the oil regulator…
TORN’s Price Dips By 45% In Two Days After United State’s Ban On Tornado Cash.
It looks like the gloves are off as TORN, the native token of crypto privacy platform, Tornado Cash; is down approximately 45%, which is almost half its market valuation. To…
Flutterwave Hires 200, Grows Workforce By 38%.
Flutterwave has said it has completed the recruitment process for its inaugural graduate trainee programme; and grown its staff base by 38 per cent in the process. It said in…
General Atlantic Hires Durham For Tech Buyouts.
Private equity firm General Atlantic has hired veteran technology dealmaker Jonathan Durham to expand in corporate buyouts; an area in which it has done little because of its focus on…
Most Gulf Bourses Rise, Abu Dhabi At Record.
Major stock markets in the Gulf rose in early trade on Thursday after softer-than-expected U.S. inflation data encouraged bets of less aggressive rate hikes from the Federal Reserve. U.S. consumer…
Binance Says It Is Winning Crypto Clients Thanks To Inflation.
Binance, the world’s largest cryptocurrency exchange, is seeing a surge in clients due to rising inflation; and a historically strong dollar that has depressed emerging market currencies. “Now that we…
Factbox: Is Global Inflation Nearing A Peak?
Calling the top of the current wave of inflation has been a painful exercise for economists; and central bankers, who have been proven wrong time and again over the past…
Asian Currency Bears Retreat As Inflation View Improves.
Bearish bets on emerging Asian currencies eased on hopes that monetary tightening will cool red-hot inflation; with short bets on the Thai baht falling sharply after the first rate hike…
China’s July Auto Sales Extend Recovery, Jump 30% As COVID Curbs Ease.
China’s auto sales surged 29.7% in July from a year earlier to 2.42 million units, extending a recovery that began in June; with the help of eased COVID curbs and…
FTSE 100 Stalls As Rio Tinto, Healthcare Stocks Weigh.
Britain’s top share index was flat, weighed down by Rio Tinto and healthcare stocks, while the midcap index hit a fresh two-month high as global equities extended gains on relief…
Analysis: Softer Inflation ‘Huge Relief’ For Battered Investors In U.S. Stocks And Bonds.
Softer than expected U.S. inflation data buoyed investors’ faith that twin rebounds in stocks and bonds will persist in a year of deep losses for both asset classes. Bear markets…
U.S Gasoline Prices Fall Below $4 For First Time Since March.
The average price of U.S. retail gasoline fell below $4 per gallon on Thursday for the first time in months, giving some relief to drivers in the world’s largest consumer…
Nigeria Spends $2.35bn On Phone Importation – Report.
Nigeria spent $2.35bn on telephone importation in three years, according to data from the International Trade Centre. The nation spent $807.95m on importation of phone sets in 2019, $765.57m in…
Confusion as anonymous crypto user sends US-based celebrities ether directly from banned Tornado Cash.
As the cryptocurrency world continues to debate whether or not the ban of Tornado Cash was good for the ecosystem in the United States; an anonymous crypto user began transferring…
Dangote Cement Shareholders Lose N409 Billion On Sell Pressure.
Negative sentiment witnessed on shares of some blue-chip firms quoted on the Nigerian Exchange has resulted in shareholders of Dangote Cement Plc losing about N409 billion in today’s trading. Checks…
Nigerians Can Now Pay Utility Bills With Crypto – Rutherford Atayobo, CEO, Manilla Finance.
When Bitcoin was created, the motivation behind it was to break the bias and trend of the fiat banking system, in a bid to create a new form of money-…
Students Cheer As Online Translation Tools Add More African languages.
Ugandan IT student Andrew Njuki spent years hunched over English-language textbooks; often grappling with material that would have been easier to grasp in his mother tongue Luganda. As of May,…
Website Creator Wix.com Plans Cost Cuts As Q2 loss Narrows.
Wix.com (WIX.O), which helps small businesses build and operate websites; reported a smaller-than-expected second-quarter loss and announced a plan to sharply reduce costs by $150 million a year. The Israeli…
Thailand Hikes Rate For First Time Since 2018 To Tame Hot Inflation.
Thailand’s central bank raised its key interest rate for the first time in nearly four years; lifting it by a quarter point as expected to fight surging inflation as the…
Nervous Calm As Dollar Prepares For Inflation Test.
Major currencies held steady, with traders cautious about placing large bets ahead of U.S. inflation data, which markets will scrutinise for guidance on how steeply the U.S. Federal Reserve will…
Demand For FX Derivatives Jumps As Central Banks Prep Rate Rises- CME Group.
Demand for currency derivatives has shot up this year, data from CME Group showed; in a sign investors are positioning for hefty interest rate hikes from the U.S. Federal Reserve…
UK’s FTSE 100 Steady Ahead Of U.S. Inflation Data.
UK’s blue-chip FTSE 100 was steady on Wednesday as investors digested mixed earnings reports. While caution reigned in global markets ahead of U.S. inflation data that could keep the Federal…
European Shares Dip As U.S. Inflation Data Looms; Ahold Jumps.
European shares edged lower on Wednesday on losses in technology stocks ahead of key inflation data from the United States, while gains in supermarket major Ahold Delhaize kept declines in…
Toyota Says No Change To Plan To Produce 9.7 Mln Vehicles Globally This Year.
Toyota Motor Corp (7203. T) said it would hold to its plan to produce 9.7 million vehicles globally this fiscal year; even as it announced another stoppage related to the…