US transport safety board to hold hearings on Boeing 737 MAX 9 mid-air emergency
The U.S. National Transportation Safety Board (NTSB) is set to question witnesses from Boeing, Spirit AeroSystems, and the Federal Aviation…
Day: August 6, 2024
Google has an illegal monopoly on search, US judge finds
A U.S. judge has ruled that Google violated antitrust laws by using billions of dollars to establish an illegal monopoly…
Exclusive: Chinese firms stockpile high-end Samsung chips as they await new US curbs, say sources
Chinese tech giants like Huawei and Baidu, along with various startups, are stockpiling high bandwidth memory (HBM) semiconductors from Samsung…
SoftBank seen posting modest profit in Q1, buyback potential in focus
Japan’s SoftBank Group is anticipated to report a modest profit for the first quarter on Wednesday, but investor focus will…
NNPC Announces Launch of New Crude Oil Grade, Targets 50,000bpd
NNPC Ltd has launched a new crude oil grade called Utapate into the international market. The oil is produced from…
Overland Begins Lagos-Abuja Direct Flights
Starting August 9, 2024, Overland Airways will begin daily direct flights between Lagos and Abuja. The airline will operate over…
NCC orders telcos to simplify tariff plans
The Nigerian Communications Commission (NCC) has directed telecom operators to make their tariff plans, bundles, and promotions clearer. This decision,…
Global stock markets plunge on US recession fears
Global stock markets experienced severe declines on Monday, with Wall Street and Tokyo’s Nikkei seeing significant drops. The Nigerian stock…
Naira depreciates to N1,600/$ in parallel market
On Monday, the Naira weakened in the parallel market, falling to N1,600 per dollar from N1,590 last weekend. In contrast,…
Oil/gas communities send memo to FG, IOCs, NDDC
Oil and gas communities in the Niger-Delta have presented a comprehensive agenda to the Federal Government, International Oil Companies (IOCs),…
BUA Cement’s pre-tax profit drops by 54% in Q1
BUA Cement’s second-quarter results for 2024 show a significant decline in pre-tax profit, falling by 54% year-over-year to N18.8 billion…
MTN, Airtel Cut Foreign Debt as Naira Falls
Telecommunication giants MTN Nigeria and Airtel Africa have significantly reduced their foreign exchange (FX) exposures due to the naira’s severe…
Nigerians experience blackout as national grid collapses again
Nigeria’s electricity grid collapsed once more on Monday, causing a nationwide blackout. The system failure, which happened at 1:33 pm,…
Businesses reopen as states contain simmering protests
On Monday, many businesses in Lagos, including popular markets like Mile 2 and government offices in Alausa and Ikeja, resumed…
Cryptocurrency Market Faces $900M Loss as Bitcoin Prices Drop
In the past 24 hours, the cryptocurrency market experienced $900 million loss, primarily due to the liquidation of long positions…