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'The Marvels' hit historic low ticket sales of $197m
Business

‘The Marvels’ hit historic low ticket sales of $197m

‘The Marvels’ is officially the lowest-grossing installment, grossing $197 million globally after four weeks in theatres. According to The Times, although it remains in theatres until New Year’s, the superhero film is expected to end its run with dismal receipts in December, leaving it at a loss despite having spent over $220 million on it. […]

Pension funds climb by 22% to N18tn - NAICOM
Business

NAICOM penalizes underwriters who use illegal firms

A few insurance companies have been penalized by the National Insurance Commission for collaborating with unlicensed middlemen. The Punch reported that this was stated by the Commissioner of NAICOM for Insurance, Mr. Sunday Thomas, at the director’s conference for the insurance sector in Lagos, which had as its theme, “Driving insurance sustainability through innovations and performance: directors’ […]

Insurance industry grew by 16.99% in Q3 - NBS
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Insurance industry grew by 16.99% in Q3 – NBS

Nigeria’s insurance industry grew by 16.99 percent in the third quarter of the fiscal year 2023. The Punch reported that this was made clear in the National Bureau of Statistics’ third-quarter report on the nation’s gross domestic product, which covered finance and insurance. According to the statement, “The finance and insurance sector is made up of […]

CBN
Business

NES seeks CBN collaboration

The Nigerian Economic Society has identified two areas in which it hopes to enhance cooperation in order to support development and growth with the Central Bank of Nigeria. The Punch reported that the governor of the Central Bank of Nigeria, Dr. Olayemi Cardoso, received a courtesy visit from the President of NES, Prof. Adeola Adenikinju, according to a […]

Facilities management adds 2.3% to world GDP -  AFMPN
Business

Facilities management adds 2.3% to world GDP –  AFMPN

The group chief executive officer of Global Properties and Facilities International, Dr. Mohammed Balogun, has criticized the facility management industry’s meagre contribution of just 2.3 per cent to the global gross domestic product. According to The Punch, Balogun made this announcement at the recently ended Association of Facility Management Practitioners of Nigeria conference, which was held in […]

Spotify to sack 17% staff members
News

Spotify to sack 17% staff members

    Spotify has announced plans to decrease its workforce by approximately 17% as part of cost-cutting measures due to significantly slower economic growth. Despite posting a rare quarterly operating profit of 32 million euros in October (contrasting with a 228 million loss from the previous year), the company aims to reduce expenses amid this […]

Ogun shuts three firms for violating environmental laws
Business

Ogun shuts three firms for violating environmental laws

Three businesses have been closed by the Ogun State government due to various environmental violations. The businesses are Star Pipe Limited in Sagamu, Robust International PTE Limited in Mowe, and Ruili Recycling Limited in Mowe. The state announced on its X official handle on Saturday night that the action is consistent with its ongoing efforts to […]

Firm provides training support to SMEs
Business

Subsidy: FG to provide SMEs with grants

The Presidential Palliative Program, which aims to mitigate the effects of the loss of fuel subsidies, will shortly begin to award payments, according to the Federal Government. According to The Punch, a statement released on Sunday by the Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, stated that the two schemes included were the Presidential Palliative Loan […]

Google shifts ChatGTP rival Gemini AI till 2024
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Google shifts ChatGTP rival Gemini AI till 2024

Google has canceled its Gemini launch events that were set to take place next week and will instead introduce its GPT-4 rival in January, The Information reported. At I/O 2023, the company hinted at Gemini, praising it as a basic model with “impressive multimodal capabilities” at an early stage of its training. Google had originally […]

Amazon updates Alexa, adds new features
News Tech

Amazon updates Alexa, adds new features

E-commerce giant, Amazon has updated the features for the voice assistant program for mobile devices, Alexa with a redesigned homepage and a tonne of new features, the most recent upgrade simplifies user control over smart home appliances. Users may personalize the Favourites area on the front page of the redesigned app, which makes it simple […]

Domestic refining output falls by 92% - Report
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Domestic refining output falls by 92% – Report

Bisola David The Statistical Review of World Energy 2023 report has noted that Nigeria’s local refinery output has decreased by 92% in ten years. According to The Punch, the report shows that output from the country’s four refineries has dropped from 92,000 barrels per day in 2012 to just 6,000 barrels per day in 2022. This represents […]

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