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Alibaba to raise HK$12bn in exchangeable bonds
News Tech

Alibaba cuts quantum computing team

The research arm of Alibaba, a Chinese internet titan, has cut a team and lab dedicated to quantum computing. The facility and associated experimental equipment have been donated by the company to Zhejiang University, they said on Monday. An official with Alibaba’s internal research programme, DAMO Academy, which encompasses the lab, stated that the academy […]

Paris mayor Anne Hidalgo quits X
News Tech

Paris mayor Anne Hidalgo quits X

Paris Mayor Anne Hidalgo said on Monday that she was leaving X, declaring that the platform was a “gigantic global sewer” that was “destroying our democracies” through the dissemination of hate speech and false information. Elon Musk fired thousands of workers after purchasing Twitter in 2022, many of them were in charge of content moderation […]

Tata International inks pact with Lagos free zone
News

Tata International inks pact with Lagos free zone

    Bisola David Tata International has signed a new agreement that will allow it to grow its activities in Nigeria by forming a strategic collaboration with the Lagos Free Zone. The Times reported that the Managing Director of Tata Africa Holdings Pty Ltd, Mr. Len Brand, signed the agreement in the presence of the Managing Director […]

NCAA suspends United Nigeria Airlines' wet-leased aircraft
featured

NCAA suspends United Nigeria Airlines’ wet-leased aircraft

    Bisola David The Nigeria Civil Aviation Authority has halted all wet-leased aircraft operated by United Nigeria Airlines shortly after one of the airline’s planes on Sunday was diverted to Asaba International Airport instead of Nnamdi Azikiwe International Airport, Abuja. Nairametrics reported that the top civil aviation regulatory body made the judgement on Monday and sent a […]

ByteDance sues ex-intern $1.1m over alleged AI sabotage
News Tech

ByteDance to shut down Nuverse gaming brand

TikTok parent company ByteDance has concluded plans to wind down its Nuverse gaming brand and retreat from mainstream video games. “We regularly review our businesses and make adjustments to centre on long-term strategic growth areas. Following a recent review, we’ve made the difficult decision to restructure our gaming business,” the spokesperson said. Hundreds of workers […]

Access Pensions introduces financial education to thirty schools
Banking

Access Pensions introduces financial education to thirty schools

Access Pensions has launched an educational effort to give financial education to children in 30 Nigerian secondary and primary schools. According to The Punch, this is the first stage in the organization’s ambition to educate over 5,000 students by the end of 2024. The Pension Fund Administrator stated that the organization is dedicated to fostering […]

Yuletide: Zenith bank lights up Lagos communities
Banking

Yuletide: Zenith bank lights up Lagos communities

Zenith Bank has kicked off the Yuletide season by lighting up Ajose Adeogun Street and Roundabout in Lagos’ Victoria Island. The Group Managing Director of Zenith Bank Plc, Ebenezer Onyeagwu, carried out the light-up ceremony on Saturday, according to a statement released on Sunday. It said that the bank’s 17th annual Light Up Ceremony was part of […]

NCRIB, Insurfeel Initiative collaborate on student insurance
Insurance

NCRIB, Insurfeel Initiative collaborate on student insurance

The Lagos Area Committee of the Nigerian Council of Registered Insurance Brokers and the Insurfeel Initiative are collaborating to promote insurance knowledge by donating free policies labelled ‘School Care Cover’ to students. According to The Punch, beneficiary students would be able to take advantage of free personal accident insurance coverage when attending school, travelling, and […]

FG, cement producers agree N7000, N8000 cement price
Business

Cement industry contributes 7% global emissions – Dangote

The Group Managing Director of Dangote Cement Plc, Arvind Pathak, has stated that the cement industry accounts for 7% of worldwide carbon emissions. According to The Punch, he made this statement recently during the 12th Africa Cement Trade Summit in Abidjan, Côte d’Ivoire. “The cement industry generates seven percent of the world’s CO2 emissions as the cement […]

Edo IGR will increase to N70bn in 2024 - Obaseki
News

Edo IGR will increase to N70bn in 2024 – Obaseki

  By Wilson Adekumola   The Governor of Edo State, Godwin Obaseki, has disclosed that the state’s Internally Generated Revenue will increase in excess of N70 billion by 2024. According to The PUNCH, Obaseki made this disclosure during a chat with newsmen in Benin, the state capital at the weekend. He stated that the state’s […]

How PenCom invested N130bn pension fund in infrastructure
featured

How PenCom invested N130bn pension fund in infrastructure

Pension Fund Administrators invested N130.18 billion in infrastructure through the Contributory Pension Scheme as of September 30, 2023. The Punch reported that statistics from the National Pension Commission’s “Unaudited report on pension funds industry portfolio for the period ended 30 September 2023-Approved Existing Schemes, Closed Pension Fund Administrators and RSA Funds (Including unremitted contributions @CBN […]

Google releases AI multisearch feature
News Tech

Google starts deletion of inactive accounts dec 1

Google has stated that it will be deleting inactive Google accounts worldwide beginning on December 1. The contents of such accounts, including as Gmail, Photos, Drive documents, Contacts, and so on, will likewise be deleted by the company. Google disclosed in May that old or inactive accounts are more vulnerable to hacking, and the company […]