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Sony shares drop 6% as Q1 profit plunges
Tech

Sony shares drop 6% as Q1 profit plunges

Shares of Japanese conglomerate, Sony took a hit, declining by 6% in Tokyo trade following a significant drop in first-quarter profit. The entertainment giant reported underwhelming showings in its movie and financial divisions, resulting in a 31% slide in operating profit. Concerns were further fueled by comments from Sony executives about the demand for its […]

China demands app developers to register with govt
News Tech

China demands app developers to register with govt

The Chinese Information Ministry has demanded that all mobile app developers register their companies with the government. The Ministry of Industry and Information Technology announced late on Tuesday that apps without correct filings will be punished after the grace period, which will end in March next year, has passed. Experts think this decision may limit […]

How PenCom invested N130bn pension fund in infrastructure
News

PenCom considers PFA securities lending

The National Pension Commission has stated that regulations are being developed to allow Pension Fund Administrators to engage in securities lending as a form of participation in the capital market. It made this disclosure on Wednesday during a session hosted by PenCom, the Securities and Exchange Commission, and the Nigerian Exchange Limited. The workshop’s focus […]

Cooking gas price will increase next week - Marketers
featured

Cooking gas price will increase next week – Marketers

          Marketers have indicated that gas prices will increase next week. According to The PUNCH, this was stated by the president of the Nigerian Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, who advised gas consumers to prepare for price increases beginning the following week. He cited rising international prices, high […]

White House unveils AI policy for US global dominance
News Tech

US unveils million-dollar competition to tackle cyberattacks

The White House announced on Wednesday that it had started a multi-million dollar cyber competition to encourage the use of artificial intelligence to detect and fix security holes in the infrastructure of the United States government. This is in response to hackers’ increasing use of technology for nefarious ends. “Cybersecurity is a race between offense […]

The year has begun with a good financial performance from the Cinema Exhibitors Association of Nigeria, with revenue up nearly 50% year over year.
Business

Nigerian cinemas’ income drops 15% despite viewers’ increase

Nigerians spent less on cinema ticket sales in July, as box office income fell 14.98%. The 14.98% (N85 million) decline to N482 million represents a drop from the prior month’s performance when movie theatres worldwide made N567 million. This information was provided in an interview with the News Agency of Nigeria in Lagos by the Chairperson of […]

Airtel Africa to sell 20% Ugandan subsidiary stake via IPO 
Business

Airtel Africa to sell 20% Ugandan subsidiary stake via IPO 

Airtel Africa Plc has told its Nigerian shareholders that it intends to use an Initial Public Offering to offer local investors a 20% stake in its Ugandan subsidiary, Airtel Uganda Limited. The telecommunications firm informed the Nigerian Exchange Limited on Wednesday that this would entail the sale of 8 billion common shares of the domestic entity. […]

FIRS announces new TAXPR-MAX platform for CbCR
News

FIRS to become major tax collector in Nigeria – FG

The Nigerian government announced that the Federal Inland Revenue Service would take over as the sole collector of all taxes in the country, replacing other organizations such as the Nigerian Customs Service and the Nigerian Communications Commission. The President’s Committee on Tax Policy and Fiscal Reforms’ chairman, Mr. Taiwo Oyedele, said this in an interview […]

We will do more to protect Nigeria's borders - Shettima
Economy

Nigeria lost $7bn to flood in 2022 – Shettima

The Vice President of Nigeria, Kashim Shettima disclosed at the UN Framework Convention on Climate Change meeting in Abuja that the flood that hit Nigeria in 2022 cost the country’s infrastructure almost $7 billion in damages. Shettima, who was represented by Deputy Chief of Staff Ibrahim Hassan, also highlighted the unfortunate deaths of 600 people caused […]

UK retailer John Lewis partners Google to harness AI
News Tech

UK retailer John Lewis partners Google to harness AI

British retailer John Lewis has signed a five-year agreement with Alphabet’s Google Cloud, to take advantage of the most recent advances in machine learning and artificial intelligence. “Not only does it save customers a lot of time and hassle, but even before the appointment we can take inspiration from their unique preferences and give tailored […]

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