AfDB Postpones 2021 Africa Investment Forum Over Omicron COVID-19 Variant Concerns
The African Development Bank (AfDB) has postponed the 2021 Africa Investment Forum until further notice over rising global travel restrictions due to…
Category: Business
BMW Unveils High-Performance XM Hybrid Electric Concept Vehicle Ahead Of U.S. production
BMW on Monday evening unveiled a new high-performance concept vehicle that previews an electrified crossover expected to begin production late next…
ByteDance Backs Dubai Startup Building Logistics Chain to China
TikTok parent ByteDance Ltd. has invested in Dubai-based iMile Delivery LLC as part of the first major fundraising by the courier…
Seplat Energy Announces Plan To Acquire Exxon’s Shallow Water Assets
Seplat Energy, Nigeria’s largest listed oil and gas firm by market value, has announced that it is in competitive discussion…
China Enshrines Ride-Hailing Curbs In Another Blow To Didi
China issued its most comprehensive set of guidelines yet governing the growth and expansion of its ride-hailing industry, dealing a fresh…
Nigeria’s Exchange Rate Strategy Discourages Investors, increases Inflation – World Bank
The World Bank says the Nigerian government’s exchange rate management policies are discouraging investments and fuelling inflation in the country…
Adenia And Proparco Acquire Moroccan Catering Service Provider
Adenia Partners, one of the oldest Africa-focused private equity firms that has hit the road to raise its next fund,…
Stocks Evergrande Shares Fall After Chairman Cuts Stake; Fantasia Suspends Trading
Shares in China Evergrande Group fell as much as 4.8% on Monday morning, after its chairman trimmed his stake in…
UK Regulator Set To Block Meta’s Giphy Deal
The UK competition regulator is expected to block Meta Platforms’ acquisition of online GIF platform Giphy in the coming days,…
Cocoa Tops List Of Exportable Agric Products’
The Nigeria Export Promotion Council has said its export promotion activities are beginning to make a positive impact, considering the…
Dow Futures Plunge 400 Points Amid Fears Of New Covid Variant Found In South Africa
U.S. stock futures dropped in overnight trading on Thursday as investors geared up for a shortened trading day amid renewed…
Softbank Fall Steepens After Report That Chinese Regulators Have Asked Didi To Delist From U.S.
Shares of SoftBank extended their losses on Friday after Bloomberg reported that Chinese regulators have asked Didi’s executives to formulate…
Ijaw Group Demands $500,000 As FG Probes Bayelsa Oil Spill
The Ijaw Diaspora Council has asked Aiteo Exploration and Production Ltd to provide immediate, interim response funding of at least…
Hilary Clinton Wants Biden Administration To Regulate Cryptocurrency
Former United States Democratic presidential candidate, Hillary Clinton has called on the Biden administration to regulate the cryptocurrency markets. She…
10-Minute Grocery Delivery Start-Up Getir To Buy UK Rival Weezy As Buzzy Market Enters Consolidation
Turkish start-up Getir on Tuesday agreed to acquire British rival Weezy, in the latest sign of consolidation in the ultrafast…
Stripe Says It’s Open To Accepting Crypto For Payments, Three Years After Ending Bitcoin Support
Stripe isn’t ruling out accepting cryptocurrency as a method of payment in the future, according to co-founder John Collison. The…
Ecobank Warns Prospective Buyer Of Honeywell Flour LTD Says Company Facing Winding Up Proceedings
Consequent upon media reports on the move by Flour Mills Nigeria PLC to acquire 71.69 percent of Honeywell Group Limited,…
Agricorp Invests N4bn In Poultry Production
Agricorp International, Nigeria’s agriculture producing, processing and export company, has invested N4bn into acquiring poultry production facilities across three states…
Dollar Shortage, Subsidy, Deficit Financing Threatening Nigeria’s Growth – W’Bank
The World Bank has said that economic growth in Nigeria is being threatened by certain macroeconomic challenges, including dollar shortage,…
Musk Chides Binance CEO On Dogecoin Glitch
Tesla founder Elon Musk on Tuesday delivered a stinging rebuke to Binance Chief Executive Changpeng Zhao on Twitter after the…
Pokemon Go Creator Niantic Valued At $9 Bln After Coatue’s Investment
Niantic Inc, the augmented reality (AR) platform behind Pokemon Go, raised $300 million from hedge fund Coatue at a valuation…
Italy’s Antitrust Fines Amazon, Apple More Than 200 Mln Euros For Alleged Collusion
Italy’s antitrust authority has fined U.S. tech giants Amazon and Apple a total of more than 200 million euros ($225…
Dismantle Trade Barriers To Grow Africa’s Economy, Dangote Urges Leaders
African leaders have been urged to dismantle trade barriers stifling their individual countries, in a bid to ensure smooth flow…
Powell Tapped For Second Term As Fed Chair
Federal Reserve Chair Jerome Powell was nominated for a second four-year term by President Joe Biden on Monday, extending a…
FMN, Honeywell Flour Mills Merge Under N80billion Shares Transfer Deal
Flour Mills of Nigeria Plc (FMN) and Honeywell Group Limited On Monday announced that they have signed an agreement for…
Illiquidity: BMBs, Merchant Banks Borrow N215.7bn From CBN In One Week
Following scarcity of liquidity in the interbank money market, banks and merchant banks borrowed N215.7billion from Central Bank of Nigeria…
Forex Row Threatens Fuel Supply, Price Stability
The lingering row between private depot owners and the Federal Government over dollar payment of dues and levies is set…
OPEC+ Exceeded Quota By 116% In October As Nigeria, Angola Underperformed
The compliance by members of the Organisation of Petroleum Exporting Countries (OPEC) and their allies known as OPEC Plus (OPEC+)…
KKR Buyout Offer Sends Telecom Italia Shares Surging 27%
Telecom Italia shares jumped more than 27% on Monday morning after U.S. private equity giant KKR launched a 10.8 billion…
Aruwa Capital Invests In Pngme
Aruwa Capital Management, an early-stage growth equity and gender lens fund, has invested in Pngme, a Nigerian financial technology company.…