FG To Mandate Ownership Disclosure Of Oil Assets To Curb $1tr Losses
The Federal Government, through the recently established Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday, said it would become compulsory for…
Category: Business
Meta And Microsoft Announce Partnership To Integrate Workplace And Teams
Meta, the company formerly known as Facebook, on Wednesday announced a partnership with Microsoft that will allow customers to integrate…
Meta To Delete Ads Capable Of Fueling Negative Experience Across Its Platforms
Meta, the parent company that oversees Facebook, Instagram and Messenger has reinforced commitment to protecting underrepresented groups across the three platforms.…
Elon Musk Sells $5 Billion In Tesla Shares After Twitter Poll
Tesla Chief Executive Elon Musk sold about $5 billion in shares, the billionaire reported in filings on Wednesday, just days after…
Construction Giant Ronchess PLC Gets Listed In The Nigerian Stock Exchange
The Nigerian Exchange (formerly known as the Nigerian Stock Exchange), has approved the listing of Ronchess Global Resources Plc on…
Nigeria Holds 29% Africa’s Total Oil Reserve – OPEC
The Organization of Petroleum Exporting Countries (OPEC) has said Africa’s proven oil reserves reached 126 billion barrels in 2019, with…
Emirates’ Loss Narrows To $1.6bn As Travel Restrictions Ease
Emirates Group has reported that its net loss for the first half of the 2021/2022 financial year fell to $1.6bn…
150,000 Farmers To Benefit As CBN flags Off Wheat Production Programme
The Central Bank of Nigeria (CBN) has flagged off the Nigerian Brown Revolution, an intervention programme to boost wheat production…
Didi Prepares To Relaunch Apps In China, Anticipates Probe Will End Soon
Didi Global is preparing to relaunch its ride-hailing and other apps in China by the end of the year in…
Rolls Royce Launches New Brand Amid Market Enthusiasm
Rolls-Royce Motor Cars Lagos has announced the debut of the latest brand under its Black Badge model, Ghost, amid enthusiasm…
Billionaire Aliko Dangote’s Net Worth Rises To $19.2bn From $17.8bn In August
Africa’s richest man, Aliko Dangote, has significantly moved up in the Bloomberg Billionaires Index as his fortune increased to $19.2…
P&G Nigeria Gets New MD
Procter & Gamble has appointed Mokutima Ajileye as the Managing Director for the Nigeria market. According to a statement by…
General Electric Broken Into Three Companies
General Electric Co (GE) has announced the splitting of its conglomerate into three public companies, in an effort to simplify…
Johnson & Johnson Wins Reprieve Over $465M Opiod Judgment
The Oklahoma Supreme Court on Tuesday overturned a $465 million judgment against Johnson & Johnson in a lawsuit by the…
Asia Stocks Mixed; Shares Of Chinese Developer Fantasia Plunge In Return To Trade
Shares in Asia-Pacific were mixed on Wednesday as investors reacted to the release of Chinese inflation data for October. Hong…
DoorDash Stock Rockets On Deal To Acquire International Delivery Platform Wolt For $8.1 Billion
DoorDash announced Tuesday it’s acquiring Wolt, a food delivery platform that’s expanded into groceries and retail, in an all-stock transaction valued at…
Cititrust Holdings Sells 100% Stake In Nigerian Subsidiary
Cititrust Holdings Plc has announced its strategic decision to divest its 100 per cent holdings in Cititrust Financial Services Plc…
Tesla Drops 12% For Biggest Fall This Year After Musk Stock Sale Proposal
Tesla stock closed down 11.99% on Tuesday, extending losses for a second day, after CEO Elon Musk over the weekend proposed…
Visa, Kuda Partner To Issue Physical, Virtual Cards
Kuda Technologies says it has partnered Visa, a leading global digital payment company, to offer digital and physical Visa cards…
Rivian Prices IPO At $78 A Share, Valuing Electric Vehicle Company At $66.5 Billion
Rivian Automotive, the electric vehicle maker backed by Amazon and Ford, priced its IPO on Tuesday at $78 a share. The deal values Rivian…
Facebook Plans To Remove Thousands Of Sensitive Ad-Targeting Options
Facebook said on Tuesday it plans to remove detailed ad-targeting options that refer to “sensitive” topics, such as ads based…
TSMC, Sony To Invest $7 Billion For New Japanese Chip Plant
Taiwan Semiconductor Manufacturing Co (TSMC) said on Tuesday it would build a $7 billion chip plant in Japan with Sony Group,…
Nigerian Raw Sugar Imports Gulp N580.8bn
Nigerian firms backed by Federal Government’s Backward Integrated Programme (BIP) have taken delivery of raw sugar valued at N580.8 billion…
Africa’s 125.8bn Crude Oil Reserves Slump by 500m Barrels in 2021
The 125.8 billion crude oil reserves owned by 17 African countries have depleted by about 500 million barrels this year…
Mobile Money Service Approval Sends MTN Nigeria Shares Up 9.34% To All Time High
Shares of Nigeria’s second biggest listed company MTN Nigeria MTNN.LG rose 9.34% to an all time high on Monday after…
Transactions In Fixed Income, Currency Market Up 94.9%
Turnover in the fixed income and currency (FIC) market rose to N24.03 trillion in September, 2021, representing a 94.89 percent…
Don’t Create Artificial Fuel Scarcity, NNPC Cautions Nigerians
The Nigerian National Petroleum Corporation (NNPC) has once cautioned members of the public against engaging in panic buying of petrol,…
British Government Sells About £400 Million Of NatWest Shares
The U.K. government has sold roughly 400 million pounds ($540 million) worth of shares in NatWest Group Plc in the…
Pound Recoups Some Post-BOE Losses, Holds Near 5-Week Low
The pound rose on Monday off five-week lows touched last week against the dollar and euro, clawing back some of…