World US House passes bill to force ByteDance to divest TikTok or face ban March 14, 2024 Ekemini Uba The U.S. House of Representatives has overwhelmingly passed a bill targeting TikTok’s Chinese owner, ByteDance, giving them six months to divest the app’s U.S. assets or face a ban. The…
World Apple supplier Foxconn sees strong 2024 as Q4 beats forecasts March 14, 2024 Ekemini Uba Foxconn, the world’s largest contract electronics maker, anticipates a significant revenue increase in 2024, buoyed by surging demand for AI servers. Despite a slow start to the year, Foxconn’s fourth-quarter…
World Tabcorp CEO resigns over use of “offensive” language at workplace March 14, 2024 Ekemini Uba Tabcorp Holdings announced the resignation of its CEO, Adam Rytenskild, after the board became aware of his use of “offensive” and “inappropriate” language in the workplace. The board found Rytenskild’s…
World Oracle adds generative AI features to finance, supply chain software March 14, 2024 Ekemini Uba Oracle has implemented a targeted approach to leveraging AI in its business applications, identifying approximately 50 specific tasks where the AI system has been tailored to handle various functions. These…
Local FG begins training of inmates, each to get N500,000 after exercise March 14, 2024 Ekemini Uba The federal government has initiated vocational training programs for inmates across 241 custodial facilities throughout Nigeria. Abiola Arogundade, the Senior Special Adviser to the President on Technical, Vocational, and Entrepreneurship…
World Israel Uses Starvation As ‘War Arm’ – EU March 14, 2024 Ekemini Uba Josep Borrell, the European Union’s foreign affairs chief, addressed the United Nations Security Council, condemning Israel’s use of starvation as a tool of war in Gaza. He emphasized that the…
Local Why Launch Of Student Loan Scheme Was Postponed – FG March 14, 2024 Ekemini Uba The Federal Government has provided clarity regarding the postponement of the launch of the student loan scheme. Sonny Echono, the Executive Secretary of the Tertiary Education Trust Fund (TETFund), emphasized…
Business Commodities Local Food processors invest N23.8bn in Nigeria to cut import bill March 14, 2024 Ekemini Uba Despite facing challenges of slow economic growth and high business costs, Nigeria has secured N23.8 billion in investments from food processors. One notable investment is the N20 billion tomato processing…
Business Local Economist Forecasts Lower Interest Rates in Nigeria by 2026 March 14, 2024 Ekemini Uba According to the Economist Intelligence Unit (EIU), Nigeria’s Monetary Policy Rate (MPR) is expected to drop to 12.5 percent by 2026 and remain steady thereafter, contingent on a decrease in…
Business Local Fintechs raise interest rates as digital lenders plan hike March 14, 2024 Ekemini Uba Following the Central Bank of Nigeria’s (CBN) decision to increase the monetary policy rate (MPR) to 22.75 percent in February 2024, fintech companies operating in the digital savings space have…
Africa Children rescued as Zimbabwe police unearth cult graves March 14, 2024 Ekemini Uba Police in Zimbabwe have apprehended the suspected leader of a religious cult, Ishmael Chokurongerwa, along with seven senior members, in Mashonaland West province. The Gore Jena Penyeranyika sect leader was…
Africa South African Airways’ privatisation deal collapses March 14, 2024 Ekemini Uba South Africa has terminated a deal to sell a majority stake in its national airline, South African Airways (SAA), to a private consortium. The government had sought to sell 51%…
Africa Paris Club creditors cancel $2bn of Somali debt March 14, 2024 Ekemini Uba Several countries, including members of the Paris Club such as the US, Japan, and Russia, have agreed to cancel more than $2 billion of debt owed by Somalia. This debt…
Africa Alarm as conjunctivitis outbreak hits Ugandan schools March 14, 2024 Ekemini Uba Authorities in Kampala, Uganda, have declared an outbreak of conjunctivitis, a highly contagious eye infection, spreading across the city and affecting schools. The Kampala Capital City Authority (KCCA) has issued…
Africa Nigeria lifts sanctions on Niger and reopens borders March 14, 2024 Ekemini Uba Nigeria’s President Bola Tinubu has lifted all economic sanctions imposed on neighbouring Niger, ending an eight-month period of restrictions following a military coup in the country. The sanctions included border…
Africa Victoire Ingabire: Rwandan opposition leader barred from election March 14, 2024 Ekemini Uba Victoire Ingabire, an outspoken critic of President Paul Kagame, faces political obstacles as she seeks to participate in Rwanda’s upcoming elections. Ingabire, who spent eight years in prison on charges…
Business Local Reps summon Dangote, BUA, others over cement price hike March 14, 2024 Ekemini Uba The Nigerian House of Representatives has decided to call upon major cement manufacturers like Dangote Cement and BUA Cement to discuss the steep rise in cement prices. The resolution to…
Local Technology Heirs Technology Appoints Obong Idiong as CEO March 14, 2024 Ekemini Uba Heirs Technology, a subsidiary of Heirs Holdings, has named Obong Idiong as its new Chief Executive Officer. Idiong previously served as Managing Director/CEO at Africa Prudential Plc, where he played…
Local Navy acquires patrol vessels to boost maritime security March 14, 2024 Ekemini Uba The Nigerian Navy has announced the acquisition of two advanced offshore patrol vessels from Dearsan Shipyard in Turkey, aimed at enhancing maritime security. Vice Admiral Emmanuel Ogalla, Chief of Naval…
investment Local Foreign direct investments withdrawal will continue in Nigeria – EIU March 14, 2024 Ekemini Uba The Economist Intelligence Unit (EIU) has issued a report stating that indigenous oil companies acquiring assets from international oil companies might struggle to match their investing power. According to the…
Local CBN provides N100bn fertilisers to boost food production March 14, 2024 Ekemini Uba The Central Bank of Nigeria (CBN) has handed over fertilizers worth N100 billion to the Federal Ministry of Agriculture and Food Security to enhance food production nationwide. During a ceremony…
World Toyota grants factory workers largest pay increase in 25 Years March 13, 2024 Ekemini Uba Toyota Motor, along with other major Japanese companies like Panasonic, Nippon Steel, and Nissan, has agreed to grant its factory workers the largest pay increase in 25 years. This move…
World Insights into European and global markets: a perspective by Tom Westbrook March 13, 2024 Ekemini Uba Japanese Pay Agreements: Major Japanese companies have acquiesced to union pay demands in full, signaling potential for stronger wage momentum. This could prompt the Bank of Japan to consider a…
Local FG Postpones Launch of Students Loan Indefinitely March 13, 2024 Ekemini Uba The Federal Government has announced the indefinite postponement of the launch of the Nigerian Students Loan Scheme. Akintunde Sawyer, the Executive Secretary of the Nigerian Education Loan Fund (NELFUND), revealed…
Local Bode Abifarin Steps Down as COO of Flutterwave March 13, 2024 Ekemini Uba Bode Abifarin has announced her resignation from her role as Chief Operating Officer (COO) at Flutterwave, a leading fintech startup. In a LinkedIn post, Abifarin expressed her intention to pursue…
Local Airbnb Bans Security Cameras in Guest Homes March 13, 2024 Ekemini Uba Airbnb has announced a significant policy change, banning the use of indoor security cameras in guest homes globally. The decision aims to prioritize privacy and address concerns raised by guests…
Local Sokoto Allocates N6.7 Billion for Ramadan Feeding Programme March 13, 2024 Ekemini Uba The Sokoto State government has announced plans to allocate N6.7 billion towards its Ramadan feeding programme, aimed at supporting the needy during the holy month. Governor Ahmed Aliyu revealed this…
investment Local Saudi Aramco’s Dividend Payouts Exceed Nigeria’s Budget March 13, 2024 Ekemini Uba Saudi Aramco, the majority state-owned oil firm of Saudi Arabia, announced a significant dividend payout of $97.8 billion in 2023, surpassing the size of Nigeria’s entire 2024 budget, which stands…
World UK to offer incentives for failed asylum seekers to move to Rwanda March 13, 2024 Ekemini Uba In a new initiative, failed asylum seekers in the UK will be offered up to £3,000 as part of a voluntary scheme to relocate to Rwanda. This plan, which aims…
Trade World US oil prices rise on expectations of strong demand March 13, 2024 Ekemini Uba 0il prices climbed on Wednesday, buoyed by optimistic forecasts of robust global demand, particularly in the United States, and despite moderate U.S. inflation figures that did little to alter expectations…
