Japanese Investors Sell Foreign Assets for Third Consecutive Month in December
Japanese investors continued to offload foreign assets for the third month in a row in December, responding to rising U.S.…
Day: January 14, 2025
Strategies to push top companies into adopting AI in 2025
A new report by PwC forecasts a significant increase in AI adoption among leading companies in 2025, as organizations recognize…
Telcos, ICT firms owe banks N1.69trn as tariff hike looms
Telecommunications and ICT companies in Nigeria owed banks N1.69 trillion as of September 2024, reflecting a slight decrease of N68.04…
FG Confident in Achieving N36.35 Trillion Revenue Target for 2025
The federal government is optimistic about meeting its ambitious N36.35 trillion revenue target for 2025, thanks to significant economic reforms.…
FG unveils Digital Trade Desk to boost Nigerian startup funding to $5bn
The Nigerian government has introduced a new initiative called the Digital Trade Desk, aimed at accelerating funding for local startups.…
Apple and Samsung Face Decline in Smartphone Shipments Amid Rising Chinese Competition
Smartphone shipments for Apple and Samsung both declined in the fourth quarter of 2024, according to preliminary data from the…
US lawmakers urge Biden to extend TikTok Jan. 19 ban deadline
Two Democratic lawmakers have urged Congress and President Joe Biden to extend the Jan. 19 deadline for ByteDance, the Chinese…
India’s HCLTech tumbles nearly 10% after Q3 revenue miss
HCLTech, India’s third-largest software services provider, saw its shares tumble nearly 10% on January 14, marking its worst session since…
EU Reevaluates Big Tech Investigations Under Digital Markets Act
The European Commission is reassessing ongoing investigations into Apple, Google, and Meta under the Digital Markets Act (DMA), a landmark…
US Tightens AI Chip Export Controls Amid Backlash from Tech Industry
The United States is introducing stricter regulations on the export of advanced AI chips and related technology to numerous countries,…
Stock Price of FBN Holdings Crashes by 5.63%
The stock price of FBN Holdings Plc fell by 5.63% on the Nigerian Exchange Limited (NGX), closing at ₦28.50 per…
FX Appetite Drives 79.4% Surge in Mutual Funds to N3.8 Trillion
The growing appetite for foreign currency investments, especially dollar-denominated assets, has propelled Nigeria’s mutual funds to a record N3.829 trillion,…
Value of eNaira rises by 57% to N18.32 bn
The value of the eNaira, Nigeria’s digital currency introduced by the Central Bank of Nigeria (CBN) in 2021, increased significantly…
Naira appreciates to N1,655/$ in parallel market
The Naira appreciated in the parallel market yesterday, trading at N1,655 per dollar compared to N1,665 last weekend. However, according…
Investors lose N51bn as equity market shrinks
The Nigerian Stock Exchange (NGX) recorded a N51bn decline in market capitalization on Monday, closing at N64.3tn. The NGX All-Share…
December inflation projected to hit 35.20%
Nigeria’s inflation rate is projected to rise to 35.20% in December 2024, driven by persistent price pressures, according to the…
Nigerian Banks’ Market Capitalisation Hits N7.90tn
Eleven Nigerian banks have collectively achieved a market capitalization of N7.90tn, showcasing varying performance across the sector. Zenith Bank PLC…