Ericsson Shares Fall 9% On Iraq Corruption Probe
Shares of Ericsson fell 9% on Wednesday after the Swedish telecom gear maker disclosed results of an internal investigation that…
Facebook To Pay $90 Million To Settle Privacy Lawsuit
Facebook agreed to pay $90 million to settle a decade-old privacy lawsuit accusing it of tracking users’ internet activity even…
Inflation Hits Louis Vuitton, Price Tags Going Up
Louis Vuitton, LVMH’s top fashion brand, will raise prices globally on Wednesday as a result of increased manufacturing and transportation…
U.S. Actor Zack Avery Steals $650M From Investors
American actor Zachary Horwitz, professionally known as Zach Avery, swindled investors of $650 million in a huge Hollywood Ponzi scheme.…
Virgin Galactic Stock Rises As Spaceflight Ticket Sales Open With $150,000 Deposit
Space tourism company Virgin Galactic announced Tuesday that it will open ticket sales to the public on Wednesday, requiring a…
BOI Raises €700m Eurobond To Help Businesses With Financial Supports
The Bank of Industry (BOI) has raised a €700 million eurobond to provide funding for the growth of businesses in…
Bitcoin And Ether Rise As Ukraine-Russia Tensions Appear To Ease
Cryptocurrencies rose on Tuesday with U.S. stock futures as tensions between Ukraine and Russia appeared to be easing. Bitcoin climbed…
Reps approve Customs’ N369bn budget, raises revenue target by N965bn
The House of Representatives Committee on Customs and Excise has approved a budget with estimates totalling N369.14bn for the Nigeria…
N’Assembly– FCT loses N800bn annually to fraudulent estate developers
The House of Representatives ad hoc committee has condemned the illegal activities of real estate developers in Abuja, Part of…
FG plans more gas exports to Europe, EU supports Nigeria with N385bn
The European Union under its Gateway Initiative has said that it will invest about 820m euros in the Nigerian digital…
LCCI: CBN’s RT200 FX scheme commendable but needs right mechanisms to thrive
Lagos Chamber of Commerce and Industry says the newly introduced forex repatriation scheme needs adequate mechanisms to achieve desired results.…
NBS: Telcos lost 12.3m internet subscribers in 2021
Nigeria’s internet users dipped by 7.99% to 141.9 million as telecoms operators lost 12.3 million data subscribers in 2021. The…
Power transmission to increase by 1,487MW as TCN gets 15 new transformers
The Transmission Company of Nigeria says it has taken delivery of 15 brand new power transformers. The transformers would increase…
African Union to receive $11.48 million grant from the African Development Fund
The African Union Commission set to receive a grant to the tune of $11.48 million from the African Development Fund.…
Nigeria’s Inflation Rate Drops To 15.60% In January
The consumer price index, which measures inflation increased to 15.60 percent year-on-year in January 2022. This is 0.87 percent points…
IMF Tells Nigerians— ENaira Better Than Bitcoin, Ethereum, Others
The International Monetary Fund has declared central bank digital currencies like eNaira are a better bet than cryptocurrencies. IMF managing…
100WF wants more women in Nigeria’s finance industry
A global organisation, 100 Women in Finance, has called for greater participation of women in the Nigerian financial industry. The…
CBN seeks to increase credit to agricultural sector
CBN Governor Godwin Emefiele has hinted at plans to increase credit to the agricultural sector. He disclosed this at a…
Russia’s Yandex Eyes $6.5 Bln Annual Revenue In 2022 After FY Profit Slip
Russian internet giant Yandex on Tuesday reported a 55% decrease in adjusted net income in 2021 but said it expects…
India Bans 54 More Chinese Apps Over Security Concerns
Spurred by security concerns, India has blocked access to 54 mobile apps, mostly of Chinese origin, among them the game…
Intel Buying Israeli Chipmaker Tower Semiconductor For $5.4 Billion
Intel Corp signed a deal to buy Israeli chipmaker Tower Semiconductor for $5.4 billion, the companies said on Tuesday, as Intel…
Blackstone, Partners Plan $23.77 Bln Recapitalization Of Logistics Firm Mileway
Blackstone Inc said on Tuesday existing investors in Mileway, its pan-European last mile logistics company, have agreed to recapitalize the…
UK’s Minister For Africa, Vicky Ford To Visit Nigeria
The UK’s Minister for Africa, Vicky Ford will visit Nigeria next week in what will be her first visit to…
Insurance Firms Earned N630.36bn, Paid N238.05bn Claims – NAICOM
Insurance companies in the country earned N630.36bn premium in 2021 and paid N238.05bn as claims, the National Insurance Commission said…
Lonestar Cell MTN, Liberian firm, sues telecoms operator over ‘cyber attack’
Liberia lonestar Cell MTN, a mobile operator in Liberia, has sued Orange telecom company over the latter’s alleged involvement in…
DMO: We’ll auction N150bn FG bonds to investors on Feb 16
The Debt Management Office says it will auction N150 billion federal government bonds to investors on February 16 2022. This…
NUPENG set for strike, insists ministry diverting N621bn road fund
The Nigeria Union of Petroleum and Natural Gas workers declared its support for the imminent industrial action by the Petroleum…
Banks’ forex ban: Dollar scarcity, inflation, firms’ closure imminent, experts warn
Financial analysts and economic experts have expressed worry over the plan by the Central Bank of Nigeria to stop the…
Fuel sells for N400/litre in Abuja, others, scarcity persists in Lagos
Residents of Abuja and neighbouring states of Niger and Nasarawa are still facing tough times sourcing for petrol with the…
Saudi Arabia Gives $80B Of Aramco Stocks To Sovereign Public Investment Fund
Saudi Arabia said it will transfer 4% of the stock in the state-run oil giant Aramco to its sovereign Public…