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Global goods trade rises 12.5% to $13.7tn in

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SpaceX completes acquisition of AI coding startup Cursor

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Global goods trade rises 12.5% to $13.7tn in H1

Business

Anthropic details Claude watermarking system to meet EU AI

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Apple unveils new commission rates for external app payments

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Musk's xAI to enable chatbot for premium X subscribers
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Musk’s xAI to enable chatbot for premium X subscribers

Elon Musk announced on Tuesday that xAI’s artificial intelligence chatbot, Grok, will now be available to all premium subscribers of the social media platform X, formerly known as Twitter. This disclosure came through a post on X, although Musk withheld further details. Notably, Grok was previously accessible only to Premium+ subscribers. Amidst a shifting landscape […]

FEC approves N60 billion for SMEs scheme
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FEC approves N60 billion for SMEs scheme

The Federal Executive Council has granted approval for the disbursement of N60 billion from the Central Bank of Nigeria through the Agric Small and Medium Enterprises Investment Scheme. The scheme is aimed at bolstering the growth of small businesses, particularly among young entrepreneurs nationwide. This announcement was made in a statement by the Minister of […]

Telecommunications

Nigerians used 721,522 terabytes data Jan 2024 – NCC

The Nigerian Communications Commission has revealed that Nigerians used a total of 721,522 terabytes of data in January this year.As the Commission started to publish statistics, this has been the most consumed data in one month.As a result of the increased activity during the festive period, data consumption jumped to 713,200 terabytes in December 2023, […]

Adobe to develop AI video creator
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Adobe launches GenStudio to help brands with content creation

Adobe has unveiled GenStudio, a groundbreaking application designed to assist brands in content creation and performance measurement, with a core focus on generative AI and ensuring brand safety. Primarily tailored for social, paid media, and lifecycle marketers, GenStudio presently aids in crafting social media posts, email campaigns, and display ads, with forthcoming support for comprehensive […]

Insurance

Insurance sector’s gross premium surpass N1trn

The Nigerian insurance industry continued its progressive upward trend of market performance as at the end of 2023, recording a remarkable increase to close on N1.003 trillion by the end of the fourth quarter, representing about 27 % growth over the N790 billion recorded in 2022, according to BusinessDay. Data released Tuesday by the Statistics […]

Vodafone Germany fires 2,000 employees to save costs
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Vodafone Germany fires 2,000 employees to save costs

Vodafone Germany has outlined plans to achieve approximately 400 million euros ($434.48 million) in savings over the next two years through a restructuring initiative that will impact approximately 2,000 positions, the company announced on Tuesday. This move forms part of a cost-cutting strategy unveiled nearly a year ago, which is anticipated to lead to the […]

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CBN increases interest rate to 24.75%

The Central Bank of Nigeria has increased the monetary policy rate by 200 basis points, to a new unprecedented 24.75% at the end of its 294th meeting of the Monetary Policy Committee. This is a lower hike compared to the 400 basis points at 22.75% in the previous month. The decision announced by the Central […]

Economy

Nigeria to join European Bank for Reconstruction and Development – Wale Edun

The Minister of Finance and the Coordinating Minister of the Economy, Wale Edun, has said that Nigeria has ratified a preliminary approval by the Federal Executive Council to join the European Bank for Reconstruction and Development. This disclosure was made by the minister while speaking at the FEC meeting on Monday, noting that the opportunity […]

News

NCC drags MTN, others to court over copyright infringement

The Nigerian Copyright Commission  has filed charges against MTN Nigeria Communications Ltd. and four others over alleged copyright infringement. According to Nairametrics, The charge with Number FHC/ABJ/CR/111/2024 filed in the Federal High Court, Abuja Division was obtained by the News Agency of Nigeria (NAN) on Monday. the Chief Executive Officer of MTN Nigeria, Karl Toriola, […]

News

Access Holding, M-Pesa, others partner for remittance solutions across Africa

Kenya’s Fintech company, M-Pesa has announced a partnership with Nigeria’s Access Holding, Coronation Group, and Safaricom to explore remittance solutions between East and West Africa. This was disclosed in a statement on the M-Pesa’s official X handle where it stated that Access Holding’s pan-African network across 14 African countries and Coronation group’s financial service offerings […]

News

CDA, Afrexim bank sign €100m MOU to aid food security in Africa

Cassa Depositi e Prestiti S.p.A Italy, the official Italian financial institution for international development cooperation, and Africa Export-Import Bank have signed a new financing facility worth €100 million to support the Bank’s interventions in food security and climate-smart agriculture in Africa. This disclosure was made in a statement by the Communications and Events Manager at […]

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