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MTN ranked most valuable South African brand

MTN, Africa’s largest mobile network operator has again been announced as the most valuable South African brand, as well as the top South African brand by ‘sustainability perceptions value’ by Brand Finance South Africa. This was disclosed in a statement on its website on Wednesday. According to the statement, MTN was assigned a brand value […]

Aviation

Air Peace denies abandoning passengers at Gatwick airport

Air Peace has vehemently denied claims that it abandoned passengers at Gatwick Airport in London on April 8, 2024, and closed its counter prematurely due to overbooking. In its response to a social media video alleging the incident, Air Peace said the allegations were false and aimed at damaging its reputation. The airline made it clear […]

Nigeria, others spent $1.4trn on debt servicing in 2023 - World Bank
World

World Bank unveils new framework to measure accountability

The World Bank Group has developed a new corporate scoreboard in tracking development results across 22 indicators, to provide a clear picture of the progress across all aspects of the World Bank Group’s mission. This underlines significant efforts in promoting accountability and transparency. This was disclosed in a press release on its website. The same […]

NAFDAC raises alarm over kidney-damaging cough syrup in circulation
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NAFDAC raises alarm over kidney-damaging cough syrup in circulation

The National Agency for Food and Drugs Administration and Control has issued a public alert regarding the recall of Benylin Paediatric Syrup, a product manufactured by Johnson & Johnson. “The National Agency for Food and Drugs Administration and Control is notifying the public of the recall of one lot of Benylin Pediatrics syrup manufactured by […]

Jack Ma steps out of sabbatical with memo to employees
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Jack Ma steps out of sabbatical with memo to employees

The co-founder of Alibaba, Jack Ma, has delivered a memo to employees, signaling his support for the internet behemoth’s restructuring endeavors. This gesture, uncommon from the billionaire who has maintained a low profile in recent years, was well-received by the market, with Alibaba’s Hong Kong-listed shares witnessing a 5% surge following the announcement. The memo, […]

Apple makes $14bn India-made iPhones - Report
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Apple makes $14bn India-made iPhones – Report

India’s contribution to iPhone production has surged to $14 billion in fiscal year 2024, as reported by Bloomberg News on Wednesday. Approximately 14% of Apple’s flagship devices, translating to about 1 in 7 iPhones, are now manufactured in India. According to sources familiar with the matter, Foxconn was responsible for nearly 67% of iPhones assembled […]

ByteDance sues ex-intern $1.1m over alleged AI sabotage
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ByteDance 2023 profit hits 60% – Report

ByteDance Ltd. witnessed a remarkable surge in profit in 2023, soaring by approximately 60%, surpassing the growth rates of online giants Tencent Holdings Ltd. and Alibaba Group Holding Ltd. This robust performance underscores the resilience of the TikTok owner amidst prevailing economic challenges. ByteDance’s earnings before interest, tax, depreciation, and amortization skyrocketed to over $40 […]

BlackBerry partners with AMD for robotics systems
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BlackBerry partners with AMD for robotics systems

BlackBerry has partnered with Advanced Micro Devices, aiming to introduce a platform facilitating enhanced robotics capabilities within the industrial and healthcare sectors. The partnership, unveiled at the Embedded World conference in Nuremberg, Germany, will leverage BlackBerry’s ONX platform sending Blackberry’s shares by over 7% on Tuesday. This alliance propelled BlackBerry’s U.S.-listed shares to reach a […]

Fraud losses decline in Nigerian banks in Q1 2024 - Report
Banking featured

10 banks operating expenses to hit N3trn

The combined operating expenses of 10 Nigerian banks rose by 42.51 per cent to N3.23tn in 2023 compared to N2.26tn in the previous year. This is based on the financial institution’s annual reports submitted to the Nigerian Exchange Limited, according to The Punch. Access Holding, FBN Holdings, Zenith Bank, United Bank for Africa, FCMB Group, […]

News

Coastal highway: No compensation for property without permit, says commissioner

The Commissioner for Physical Planning and Urban Development in Lagos State, Dr. Olumide Oluyinka, has said only properties with planning approvals will be compensated for demolition in the construction of the Lagos-Calabar coastal road. This disclosure was made by Oluyinka at the Association of the Real Estate Agents in Nigeria summit held in Lagos on […]

Meta launches feature for users to create albums
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Meta launches feature for users to create albums

Meta on Tuesday unveiled a series of updates to its Messenger platform, introducing new functionalities aimed at enhancing user experience. Among the new features is the ability for Messenger users to create shared albums in chats, send photos in high-definition, and share larger files up to 100MB in size. These additions are specifically targeted towards […]

News

Trade costs in Nigeria, Ethiopia higher than in US — W’Bank

The World Bank has stated that the cost of trade in Nigeria and Ethiopia is four to five times higher than what is obtained in the United States due to insecurity, higher transportation costs, topography, and poor road infrastructure. The Global lender pointed out in the Africa Pulse published on Monday that price differences between […]