Capital Market Rose By N248 Billion
The dominance of the bulls continued unabated for the third consecutive session, yesterday, as almost all the blue chip stocks recorded price appreciation, resulting in a further rise in market…
Nigeria: Federal Inland Revenue Service To Prioritize Taxation Of Digital Economy
The Federal Inland Revenue Service (FIRS) said it would give priority to the taxation of the digital economy this year. It added that it would deploy technological tools in assessing…
Indonesia Non-Government Islamic Organizations Issue Warning Against Crypto Use
The Tarjih Council and the Central Executive Tajdid of Muhammadiyah, one of the largest non-government Islamic organizations in Indonesia, issued a new fatwa against cryptocurrency use, deeming it haram, or…
FG’s 2022 Budget Has 460 Duplicated Projects Worth N378.9b — BudgIT
BudgIT, a foremost civic-tech organization leading the advocacy for transparency and accountability in Nigeria’s public finance, has called on the citizens, CSOs, private sector, and the international community to urgently…
Foreign Inflows Fall By 32%, UK, South Africa, Others Slash Nigeria Investments
The Central Bank of Nigeria has disclosed that capital importation into the country fell by 32 per cent to $500m in October 2021, from $660m recorded in September. The CBN…
International Airlines Cancel Flights To US Over 5G
It’s strange that 5G will cause interference, says telcos International airlines are beginning to cancel scheduled flights to most cities in the Unites States over fear of 5G network interference…
Nigeria To Partner Egypt On Technical Support For Power Transmission
The Federal Government has announced plans to partner Egypt in the areas of technical support in the transmission and distribution of electricity in Nigeria. The Minister of Power, Abubakar Aliyu,…
WeTransfer Owner WeRock Seeks $714-813 Million Valuation In IPO
The company that owns the WeTransfer file service will be valued at between 629 million and 716 million euros ($714-813 million) at its initial public offering (IPO) in Amsterdam this…
Amazon Set To Open It’s First Apparel Store
The first Amazon Style store, located in the Los Angeles suburb of Glendale, Calif., will open its doors later this year, the company announced Thursday. The store will feature women’s…
10-Year U.S. Treasury Yield Rise Above 1.83 Percent
The sudden spike in the 10-year U.S. Treasury yield eased on Thursday morning, with it rising slightly to hover above 1.83%. The yield on the benchmark 10-year Treasury note added…
Dangote Oil Refinery To Reduce Importation Of Petroleum Products By 36 Per cent
The African Petroleum Producers Organisation (APPO) has said that Dangote Oil Refinery would reduce importation of petroleum products production into the continent by as much as 36 per cent. Besides,…
Norway “Telenor” Partners With Amazon To Modernize Its Telecoms Systems
Norway’s Telenor said on Thursday it had partnered with Amazon Web Services (AWS) to speed up the modernisation of its telecoms systems, boosting the use of cloud technology to offer…
Nigeria: FEC Approves N56.2 Billion For Road Construction
The federal executive council (FEC) has approved contracts worth N56.2 billion for the construction of roads and a car park in the federal capital territory (FCT). Mohammed Bello, FCT minister,…
Naira depreciates as banks shift BTA/PTA rates to N419 per dollar
The value of the Nigerian naira depreciated by 1.5 percent as banks shifted personal travel allowance (PTA) and business travel allowance (BTA) rates from N413 to N419 per dollar. PTA…
Oracle Opens Data Centre In South Africa
Oracle, a cloud infrastructure firm, says it has opened a data centre in South Africa — its first cloud region in Africa to meet the rapidly growing demand for enterprise…
Nigerian Food-Tech Startup “Orda”Raises $1m In Pre Seed Round
Orda, a Nigerian food-tech startup, says it has raised a pre-seed round capital of $1.1 million to expand its operations to South Africa and scale up financial products. The company,…
Nigeria: Tinubu, Alpha Beta Ex-MD Considers Out-Of-Court Settlement
A former Managing Director of Alpha Beta Consulting, Dapo Apara, the All Progressives Congress leader, Bola Tinubu; and the current Managing Director of the company, Akin Doherty, have begun discussions…
Nigeria: President Buhari to unveil CBN rice pyramids
President Buhari will unveil one million pyramid-shaped sacks of rice paddy in Abuja today. The pyramids which are said to be Africa’s largest, are located on the premises of the…
After eight months of decline, Nigeria’s inflation rate rises to 15.63%
After eight months of decline, Nigeria’s headline inflation rate rose to 15.36% in December 2021, from 15.50% recorded in November. The Statistician-General of the Federation, Simon Harry, disclosed this on…
Parallex transforms from microfinance to commercial bank
Parallex Bank says it has officially transitioned from a microfinance institution to a commercial bank. The bank unveiled its new brand entity, over the weekend at its corporate head office…
Insurance firms’ assets hit N2.09tn amidst recapitalisation suspension
The insurance sector’s total assets have risen by N228.24bn in 15 months despite the suspension of the National Insurance Commission’s segmented recapitalisation exercise. The final phases of the Nigerian insurance…
NGX reopens bearish as losses in 22 stocks drag indices by N29bn
Nigerian Exchange Limited NGX resumed trading for the week on a downturn yesterday, as losses in 22 stocks dragged market capitalisation by N29 billion. As measured by market breadth, market…
OpenSea Monthly Trading Volume Exceeds $3.5 Billion
The world’s largest Non-Fungible token (NFT) marketplace, OpenSea, has seen its monthly trade volume in Ether (ETH) exceed $3.5 billion for the first time ever, with just two weeks left…
Ford Signs Five-Year Payments Deal With Stripe
Online payment processor Stripe has signed up Ford Motor Company as a customer, in a five-year deal aimed at bolstering the automotive giant’s e-commerce strategy. Ford Motor Credit Company, the…
China Delivery “Starbucks” Partners With Meituan Tie-Up
Starbucks said on Tuesday it has entered into a partnership with China’s Meituan that will allow its Chinese customers to order coffee delivery via the super-app’s platform. The move will…
EU Spike Fines For Breaches Of EU Privacy Law
Fines for violations of the European Union’s landmark privacy law have soared nearly sevenfold in the past year, according to new research. EU data protection authorities have handed out a…
UK Self-Driving Startup Wayve Raises $200 Mln From Investors
British self-driving technology startup Wayve said on Tuesday it has raised $200 million from investors to scale up its autonomous driving technology globally and launch more pilot projects with commercial…
Twitter Expand Test Feature For Flagging Misleading Content To Brazil, Spain And Philippines
Twitter Inc said on Monday it will expand its test feature which allows users to flag misleading content on its social media platform to Brazil, Spain and the Philippines. The…
Chinese E-Commerce Giant JD.Com Sets Challenge To Amazon With First ‘Robotic Shops’ In Europe
Chinese e-commerce giant JD.com has opened two retail stores in the Netherlands that it says will be manned with robots preparing and delivering packages. JD.com said that shoppers can use…