Nigeria: FG to Pay Arrears of Minimum Wage To Varsity Staff October
The federal government has given an undertaken to clear the arrears of the consequential adjustment on the new minimum wage owed members of the Senior Staff Association of Nigerian Universities…
Nigeria: Elevated CRR Level Moderated Banking Industry’s Performance, Liquidity Position In FY 2020
The Nigerian banking industry would have recorded a return on average equity (ROE) of 31.6 per cent if not for the aggressive implementation of the cash reserve requirement (CRR) policy…
Nigeria:CIBN Canvasses Tax Expansion To Improve Revenue
The Chartered Institute of Bankers of Nigeria (CIBN), Lagos State chapter has suggested the restructuring of existing systems for tax expansion to improve the nation’s domestic revenue and tackle debt.…
Nigeria’s GDP Grows Further By 5.01% In Q2 2021
Nigeria’s Gross Domestic Product (GDP) grew by 5.01% (year-on-year) in real terms in the second quarter of 2021, marking three consecutive quarters of growth following the negative growth rates recorded…
Nigeria: Troubles Ahead, Experts Warn As Debt Servicing Gulps 91% Of Revenue
The Federal Government spent N2.02tn on debt servicing in the first six months of this year. This figure represents 90.58 per cent of the total revenue of N2.23tn generated by…
Nigeria: NNPC Records N287bn As 2020 PAT
President Muhammadu Buhari, has announced a N287 billion profit after tax for the Nigerian National Petroleum Corporation (NNPC) in the 2020 financial year. According to a statement by Special Adviser…
Nigeria:Stock Market Rebounds As Capitalisation Rises By N15 Billion
As price gains outweighed losses, transactions on the equities sector of the Nigerian Exchange Limited (NGX) closed in an upbeat yesterday, causing market capitalisation to increase by N15 billion. Yesterday,…
As China Tightens Data Rules, Xpeng Says It’s On The ‘Right Side’ Of Regulation
Xpeng’s president says the Chinese electric vehicle maker is on the “right side of the regulation,” as Chinese authorities tighten rules around data privacy with rules aimed specifically at automakers.…
In Major Policy Change, Apple Will Allow Developers To Email Customers About Alternatives To App Store Billing
Apple will allow app developers to email their users about non-Apple purchase options, in a major change to App Store policies. Previously, Apple prohibited app makers to steer users through…
Education Department Will Cancel Student Debt For 115,000 Borrowers
The U.S. Department of Education announced Thursday it will cancel $1.1 billion in student debt for 115,000 borrowers. The relief will go to those who attended ITT Technical Institute, a…
This 12-year-old Coder Is Set To Earn Over $400,000 After About 2 Months Selling NFTs
Benyamin Ahmed isn’t your average 12-year-old. When he’s not at school, he enjoys swimming, taekwondo — and learning how to code. At just 5 years old, Ahmed began programming after…
London Tech Firms Struggle To Hire As Silicon Valley Giants Scale Up In The City
Technology firms in London are finding it increasingly difficult to recruit tech workers as Silicon Valley tech giants scale up their operations in the U.K. capital. U.S. tech behemoths including…
Telecoms: Nigeria’s Data Usage Rises By 202% In Three Years
Data usage in Nigeria surged by 202.08 per cent in three years, according to data from the Nigerian Communications Commission. According to the subscriber/network data reports of 2018, 2019, and…
Nigeria: Importation Of Petroleum Products Will Soon Be Over
Nigerian National Petroleum Corporation (NNPC), yesterday, assured Nigerians that the importation of petroleum products into the country would soon be over. Group Managing Director (GMD) of NNPC, Mallam Mele Kyari,…
Nigeria: Stakeholders Proffer Solution To Better Intra-African Trade
As Africa gears toward the implementation of the African Continental Free Trade Area (AfCFTA) agreement, stakeholders at a virtual event to commemorate the 46th anniversary of the EconomicCommunity of West…
Nigeria: CBN Threatens Prosecution Of Forex Policy Defaulters
Banks have warned that defaulters of the new foreign exchange policy may face criminal prosecution by the Central Bank of Nigeria. The banks in emails to their customers said that…
Nigeria: At N513m, Securities Lending On NGX Hits Historical Record
The Nigerian Exchange (NGX) Limited has disclosed that value of Securities Lending market increased to N513million as at 20 August 2021. According to NGX’s most recent report, there has been…
European Stocks Set To Retreat As Global Markets Subdued Ahead Of Fed Symposium
European shares are set to pull back Thursday, with global markets striking a cautious tone as U.S. Federal Reserve policymakers gather for a closely watched monetary policy summit. Britain’s FTSE…
Xiaomi Acquires Autonomous Driving Firm As It Looks To Boost Nascent Electric Vehicle Business
Chinese electronics giant Xiaomi has acquired an autonomous driving start-up, jumping into an extremely competitive area, while trying to diversify its business beyond smartphones. Xiaomi said Wednesday it had acquired…
China’s After-School Crackdown Wipes Out Many Jobs Overnight
For hundreds of thousands of Chinese people, Beijing’s crackdown on after-school tutoring this summer means their well-paying jobs are disappearing quickly. While it’s difficult to pin down the exact scale…
Microsoft Hires Former Amazon Cloud Executive Charlie Bell
Microsoft has hired Amazon cloud executive Charlie Bell as a corporate vice president, CNBC has confirmed. The move represents a victory for Microsoft, whose Azure cloud business is trying to…
Australia’s Qantas Hopes To Resume International Flights By Christmas, CEO says
Australian carrier Qantas expects international flights to the U.S., the U.K. and parts of Asia to resume by Christmas, CEO Alan Joyce said Thursday. Since March last year, Australia has…
South Korea Hikes Interest Rates, The First Developed Economy To Do So In Pandemic Erah Korea hikes interest rates, the first developed economy to do so in pandemic era
South Korea’s central bank raised interest rates on Thursday in a decision that was expected as financial risks heat up despite the virus threat. The Bank of Korea raised its…
Nigeria: Globacom Redefines TV Viewing With Glo TV Launch
In a bold step to redefine television viewing experience for all Nigerians, Globacom has announced the launch of Glo TV, an innovative TV streaming service for watching live linear TV,…
Nigeria: FG, States, LGAs To Get New Revenue Formula This Year –RMAFC
Twenty-eight years after the last revenue sharing formula was introduced, the Chairman of Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Mr Elias Mbam, yesterday, assured the three tiers of government…
Stocks Making The Biggest Moves Premarket: Dick’s Sporting, J&J, Express, Shoe Carnival, Others
Dick’s Sporting Goods (DKS) – The sporting goods retailer’s shares jumped 4.9% in the premarket, as its quarterly earnings beat estimates. The company also announced a $5.50 per share special…
Ray Dalio Is Wrong About China’s Tech Crackdown, Economist Says
China expert George Magnus disagrees with Bridgewater Associates’ Ray Dalio on Beijing’s tech crackdown. In a LinkedIn post this month, Dalio said investors were misconstruing a clampdown by China on…
Nigeria: FG Releases N1.3trn To Fund 2021 Capital Budget
The federal government has released N1.3 trillion to fund part of the 2021 capital expenditure budget of its Ministries, Departments and Agencies, MDAs. Disclosing this yesterday at the 2022 budget…
Nigeria: Reps Direct PPPRA To Produce Consumption, Revenue Remittances Records
The House of Representatives committee on Finance has directed the Pipeline Products Pricing Regulatory Agency (PPPRA) to reconcile its daily output of Petroleum Motor Spirit (PMS) and other petroleum products…