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Naira holds steady at ₦1,368/$ in official FX market

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Firms expect borrowing costs to ease in coming months

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Poland bans the use of spyware
News Tech

Poland bans use of spyware

A special Poland senate commission has prohibited the use of spyware by the government, including that produced by NSO Group. After an 18-month inquiry into claims that the Polish government spied on an opposition lawmaker and other politicians ahead of the country’s 2019 elections, the commission announced its findings on Thursday. “Pegasus cannot be used […]

FBNH, GTCO join NGX banking index
Business

Oando, CWG top gainers list as NGX ends two-day losing streak

Nigerian stocks ended Friday’s trading session in positive territory, breaking a two-week losing trend. The All-Share Index closed at 68,143.34 index points, up 0.09% from the 68,082.11 index points it had at the end of the previous trading day. The market value of stocks also increased by N33 billion to conclude at N37.295 trillion, or 0.09%, […]

China's Ant Group launches AI finance model
News Tech

China’s Ant Group launches AI finance model

Ant Group on Friday, revealed a finance-specific artificial intelligence model, and testing of consumer and business apps for the product has already begun. Established by billionaire Jack Ma, Ant is China’s largest fintech company and has more than 1 billion users worldwide for its Alipay payment system, the company’s debut into financial AI is noteworthy. […]

Australia takes action against AI-made child abuse material
News Tech

Australia takes action against AI-made child abuse material

Australia will require search engines like Google and Bing to take action to stop the sharing of artificial intelligence-generated child sex abuse content. Search engines will be required to make sure that such content is not shown in search results under a new code being developed by the industry’s biggest names at the government’s request, […]

Food drives August's inflation rate to 25.80% - NBS
News

Global food price index drops to two-year low – FOA

The World Price Index of the United Nations Food Agency reached a record two-year low in August, undoing July’s temporary uptick. The Times reported that the majority of food commodity prices fell, which caused this reversal, while there were price rises for rice and sugar. The Food and Agriculture Organisation said on Friday that the average value […]

Jeff Bezos sells 50 million Amazon shares
News

Jeff Bezos, ex wife Mackenzie gain $3.16bn as Amazon shares rise

The founder and CEO of Amazon, Jeff Bezos, and his ex-wife, MacKenzie Scott, have seen a substantial boost in their wealth, collecting a stunning $3.16 billion together. TheTimes reported that this increase coincides with an extraordinary rise in the value of Amazon’s shares, according to statistics obtained from Forbes. Jeff Bezos’ net worth increased by […]

Army discovers stolen 1m litres crude oil in Rivers
Oil and Gas

How Nigeria lost $46bn to oil theft in 11 years – Speaker

Nigeria has sustained significant losses as a result of crude oil theft totaling $46 billion between 2009 and 2020, according to the Speaker of the House of Representatives, Tajudeen Abbas. According to The Times, Rt. Hon. Abbas made this disclosure while establishing the special committee to look into crude oil theft and related revenue losses. He […]

Business

Nigeria’s exports to India decrease by 61% in one year

The most recent National Bureau of Statistics data reveal that Nigeria’s exports to India have dropped dramatically by a startling 61% in the last year. According to The Times, in conjunction with the G20 summit that is currently taking place in India, President Bola Ahmed Tinubu is leading a corporate delegation from Nigeria there for a business […]

Nigeria’s leading internet service providers are experiencing a steady decline in subscriber numbers, as new data from the Nigerian Communications Commission
Telecommunications

How N120bn USSD debt limits financial inclusion- NCC

The Executive Vice Chairman of the Nigerian Communications Commission, Prof. Umar Danbatta, has stated that the banks’ N120 billion Unstructured Supplementary Service Data debt to telecommunication providers is impeding financial inclusion. According to The Punch, he pointed out that without the service, the country would not have reached its current level of digital financial inclusion, which he […]

US academy to train 120 women in entrepreneurship
Business

US academy to train 120 women in entrepreneurship

The US Mission inaugurated the fifth iteration of the Academy for Women Entrepreneurs in Nigeria, in collaboration with Ascend Studios, with the goal of empowering 120 women in business. According to The Punch, AWE would give 120 female entrepreneurs the information, contacts, and opportunities necessary to start and grow successful businesses, according to a statement from […]

How inflation, forex crisis may affect consumer goods industry - Report
Business

How declining businesses affect inflation – Report

The August Stanbic IBTC Purchasing Managers Index survey revealed that the private sector activity decreased halfway through the third quarter of the year as a result of weakening demand brought on by rising costs. The Punch reported that the input costs and output charges reportedly climbed to the greatest level since the survey’s start roughly ten […]

Forex revenues hits new high as trade surplus reaches N2.22trn
Business

Forex revenues hits new high as trade surplus reaches N2.22trn

Nigeria’s foreign exchange earnings increased in the first six months of 2023, as the country’s trade surplus increased to N2.22 trillion. According to The Punch, the country was looking for new ways to boost its earnings from foreign exchange earnings. New data from the National Bureau of Statistics show that Nigeria’s overall import bill was […]

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