Airbus Enhances Production Capabilities for A321XLR in Hamburg
Airbus has inaugurated a new automated A321XLR aircraft equipment installation hangar in Hamburg, a move aimed at modernizing and digitizing…
Year: 2023
Shell Opted for Shorter Prelude LNG Maintenance Over Year-Long Fix – Sources
Shell considered shutting down its Prelude liquefied natural gas (LNG) facility in Australia for a year to address persistent operational…
China’s Economic Woes Pose Risk to Japan’s Fragile Recovery
Policymakers in Tokyo are concerned that China’s ongoing economic challenges could negatively impact Japan’s tenuous recovery. This risk is particularly…
U.N. Chief Warns of “Great Fracture” in Global Economic Systems
U.N. Secretary-General António Guterres has cautioned about the risk of a “great fracture” in the world’s economic and financial systems.…
Bank-Owned Brokers Outperform Standalone Counterparts in Profits
Bank-owned stockbrokers and investment banks, supported by alternative revenue streams, have outperformed standalone rivals in terms of profits. SBG Securities,…
KCB Group to Infuse $100 Million into KCB Bank Kenya for Recapitalization
KCB Group, a major financial institution, is planning to inject $100 million (approximately Sh14.5 billion) into KCB Bank Kenya. This…
MetaMask Adds Cash-Out Feature, Allowing Users to Convert Crypto to Fiat
MetaMask, the largest self-custodial internet-connected wallet with over 22 million users, has introduced a cash-out feature that enables users to…
500 Global Closes $143M for Largest Southeast Asia Early-Stage Fund
500 Global, a venture firm and seed accelerator, has successfully closed a $143 million financing round for its biggest Southeast…
Shell Executive Notes Significant, Though High, Reduction in Global LNG Prices
Steve Hill, the Executive Vice President at Shell, acknowledged a significant but still historically high reduction in liquefied natural gas…
Nigeria Secures $14 Billion Pledges from Indian Investors, Eyes Economic Cooperation Pact
Nigerian President Bola Tinubu has garnered pledges of nearly $14 billion from Indian investors, signaling a growing economic cooperation between…
G20 to Grant Permanent Membership to African Union
The G20, a grouping of major world economies, has reportedly agreed to grant permanent membership to the African Union, according…
Nigerian Minister Pledges to Review Land Use Act in Collaboration with World Bank
The Nigerian Minister of Housing and Urban Development, Mr. Ahmed Musa Dangiwa, has affirmed his commitment to collaborating with stakeholders…
Nigerian Postal Service Unveils Commemorative Stamp for Pan African Postal Union Tower Launch
The Nigerian Postal Service (NIPOST) has introduced a commemorative stamp valued at N255 to mark the launch of the Pan…
Nigerian Government Increases Pre-paid Electricity Meter Prices Amid Public Discontent
The Federal Government of Nigeria has announced a rise in the prices of single-phase and three-phase pre-paid electricity meters, effective…
Tribunal Upholds Bola Tinubu’s Presidential Victory; Dismisses Petitions
The Presidential Election Petition Tribunal has validated Bola Tinubu’s victory in Nigeria’s February election, dismissing the petitions filed by Atiku…
President Tinubu Advocates $10 Billion Annual Investment for Nigeria’s Energy Transition Plan
During the Africa Climate Summit held in Kenya, President Bola Tinubu emphasized the need for an annual investment of $10…
Fire Outbreak Causes Chaos at Murtala Muhammed Airport’s International Wing
Confusion and panic gripped the international wing of Murtala Muhammed Airport following a fire outbreak in one of the airport’s…
PZ Cussons Offers to Buy Out Minority Shareholders of PZ Cussons Nigeria, Aims to De-List Amid FX Challenges
PZ Cussons, the soap maker, has announced its intention to acquire the remaining 26.73% stake held by minority shareholders in…
IT Software Management Startup Josys Raises $93 Million in Series B Round
1. Funding for IT Software Automation: Josys, a startup specializing in software-as-a-service (SaaS) solutions for automating corporate IT software application…
Wayflyer Secures $1 Billion Capital Injection from Neuberger Berman
E-commerce financing provider Wayflyer has successfully secured $1 billion in capital from investment management firm Neuberger Berman. This funding is…
IMF Recommends South Korea Maintain Restrictive Policies to Tackle Inflation and Strengthen Finances
The International Monetary Fund (IMF) has advised South Korea to retain its current restrictive monetary and fiscal policies to address…
G7 and Allies Pause Reviews of Russian Oil Price Cap Scheme
The G7 and its allies have halted their regular reviews of the Russian oil price cap scheme, despite Russian crude…
Nigerian Presidential Election Tribunal to Rule on Tinubu’s Victory
Nigeria’s presidential election tribunal is set to announce its decision on Wednesday regarding Bola Tinubu’s continued presidency, which was challenged…
African Development Bank Commits $25 Billion to Climate Finance by 2050
The President of the African Development Bank, Akinwunmi Adesina, has announced that the institution is committing to provide $25 billion…
UAE Announces $4.5 Billion Initiative to Boost Africa’s Clean Energy Potential
The COP28 President-Designate, Dr. Sultan Al Jaber, has unveiled a new initiative from the United Arab Emirates (UAE) that will…
Nigeria Holds $8.25 Billion Undisbursed World Bank Loan as of July 2023
Nigeria currently holds approximately $8.25 billion in undisbursed loans from the World Bank as of July 2023, according to data…
FMDQ Records Impressive Forex Turnover of $44 Billion in First Seven Months of 2023
According to the August edition of FMDQ Spotlight, the FMDQ (FMDQ Securities Exchange) reported an outstanding turnover of N22.98 trillion…
Oil Prices Inch Higher Amid Anticipation of Supply Tightening
Oil prices saw marginal gains, with Brent crude November futures rising by 3 cents to reach $88.58 a barrel, while…
Nigeria’s External Reserves Experience Marginal Uptick in August 2023″
In August 2023, Nigeria’s external reserves saw a slight increase of $1.87 million, attributed to the Central Bank of Nigeria’s…
Nigeria Aims to Submit 2024 Budget to Parliament by October End
The Ministry of Budget and Economic Planning has revealed plans to present the 2024 budget to the House of Assembly…