US lawmakers raise worries about China in Microsoft deal with Emirati AI firm
Republican lawmakers have requested an intelligence assessment from the Biden administration on Microsoft’s $1.5 billion investment in UAE-based AI firm…
Month: July 2024
Australia to bring anti-scam law targeting internet giants this year, regulator says
Australia plans to introduce a law by the end of the year requiring internet companies to proactively prevent scams or…
BIPC Seeks $500m UNHCR-IFC For IDPs Sustainability
The Benue Investment and Property Company Limited (BIPC) has proposed a business model to leverage a $500 million grant from…
FG To Invest In Made-In-Nigeria Vehicles, Transmit To CKD Assembly
The Director-General of the National Automotive Design and Development Council (NADDC), Oluwemimo Joseph Osanipin, has announced the federal government’s commitment…
Nigeria’s oil production adds 25,000 barrels per day
Nigeria’s daily oil production increased by 25,000 barrels per day, rising from 1.251 million barrels per day in May to…
NIDF posts N8.37bn post-tax profit
The Nigeria Infrastructure Debt Fund (NIDF) reported a 15.8% increase in post-tax profit for the first half of 2024, reaching…
Honeywell, Seplat drag equity market to N188bn loss
Investors on the Nigerian Exchange Limited faced losses totaling N188 billion on Thursday, primarily driven by declines in the share…
SEC harps on investor education to drive growth
Emomotimi Agama, the Director General of the Securities and Exchange Commission (SEC), emphasized the importance of investor education during a…
NDDC to boost Niger Delta development with N1.9tn budget
The Niger Delta Development Commission (NDDC) has presented its ambitious 2024 budget of N1.9 trillion to the House of Representatives…
Senate rejects bill seeking to review forex market regulations
The Nigerian Senate recently rejected the Foreign Exchange (Control and Monitoring) Bill, 2024 (SB. 353), proposed by Senator Sani Musa…
FG, IOCs agree on crude supply to Dangote, local refineries
The Nigerian government and local crude oil producers have pledged to maintain a sustainable supply of crude to domestic refineries…
Amazon could face probe over treatment of UK grocery suppliers, watchdog says
Britain’s grocery regulator has warned Amazon of a possible formal investigation if it does not improve compliance with the Groceries…
AI frenzy takes Taiwan’s TSMC to record peak, puts it in trillion dollar club
TSMC reached a record high in its second-quarter revenue, driven by strong demand for AI applications. The world’s largest contract…
Exclusive: In lithium industry first, IBAT commercializes new extraction technology
International Battery Metals (IBAT) has achieved a significant milestone in the clean-energy transition by becoming the first company to commercially…
Housing crisis in Spain’s cities drives rise in homelessness as tourism booms
Francisco Carrillo, a 62-year-old pensioner, finally found relief as he moved into a charity-provided apartment in Madrid after three years…
Nigeria’s regional trade declines, ranks 4th behind SA, Cote d’Ivoire, Egypt
Three years into the African Continental Free Trade Area (AfCFTA) agreement, Nigeria has experienced a decline in its intra-African trade.…
NERC Reels Out New Sanctions For DisCos
The Nigerian Electricity Regulatory Commission (NERC) announced new sanctions for Distribution Companies (DisCos) failing to meet specific contractual obligations with…
Global Regulators Tighten Rules On Banks Outsourcing Services
The Basel Committee of banking regulators has proposed that bank board directors take ultimate responsibility for managing the risks associated…
Food Security: FEC Approves Procurement Of 2000 Tractors, 1200 Trailers
The Federal Executive Council (FEC) has approved the procurement of 2,000 tractors, 4,000 disc ploughs, 1,200 tractor trailers, and other…
Naira tumbles above the N2,000 mark against British pound
The Nigerian naira faced downward pressure as it started Thursday’s session with a weakening trend against the British pound sterling,…
Cost of living crisis: Nigeria ranked 5th hardest hit African country
Nigeria has been identified as the fifth hardest-hit African country by the global cost-of-living crisis, according to a mid-2024 index…
TD Africa Recognized at Huawei Event for Exceptional Service and Distribution Excellence
TD Africa was celebrated at Huawei’s recent event themed ‘Accelerate Industrial Intelligence’ for its exemplary contributions to Huawei’s success in…
Keystone Wins Retail Bank of the Year 2024 Award
Keystone Bank Limited has been recognized as the ‘Retail Bank of the Year’ at the Africa Industrial and Development Conference…
FG, USAID sign N115bn MoU to support power sector reforms
The United States Agency for International Development (USAID) and the Federal Ministry of Power have signed a memorandum of understanding…
UK economy improved in May – Report
Britain’s economic output grew by 0.4 percent in May, surpassing analysts’ expectations of 0.2 percent and rebounding from flat GDP…
Nigerian Equity Market Declines for Third Day, Investors Lose N2.18bn
The Nigerian equity market extended its losing streak for the third consecutive day this week, with investors losing N2.18 billion…
Spirits set to overtake wine as global drinking habits change
A report by the World Spirits Alliance forecasts that more cases of spirits like vodka and whisky will be sold…
US retailers try to move back-to-school shopping to July
American retailers are kickstarting their back-to-school promotions earlier this year to compete with Amazon’s Prime Day on July 16 and…
Honeywell to buy Air Products’ LNG unit for $1.81 bln as deal-making spree continues
Honeywell announced its fourth acquisition of the year, purchasing Air Products’ liquefied natural-gas (LNG) process technology and equipment business for…
Yandex split nears completion as Russian traders finalise share exchange
Russian traders have finalized a share exchange for investors in Yandex, often referred to as Russia’s Google, marking one of…