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Business

SoftBank shares rise after Alibaba split

SoftBank Group Corp’s shares rose on Wednesday after Alibaba Group announced a major restructuring plan. SoftBank has a 13.7% stake in Alibaba. Reuters reported that SoftBank’s shares increased by 5.6% in the afternoon trade, the biggest gain in five months. Meanwhile, Alibaba’s shares went up by 13.2%. AMBusiness reported on Tuesday that Alibaba plans to […]

Reps adopt tax reforms, retains VAT at 7.5%
Economy

Chinese bank rejects FG’s loan request – Reps

      The House of Representatives on Tuesday revealed that China Development Bank, has rejected a loan request of $973,474,971.38 from Nigeria. According to The PUNCH, this came after the National Assembly of Nigeria approved spending an extra $22,798,446,773 on infrastructure despite a loan rejection from the China-Exim Bank. The chairman of the House […]

Airtel Africa to build 34MW data center in Nigeria
Telecommunications

Airtel commissions Gombe’s largest primary school

Airtel Nigeria, a telecommunications company, announced the opening of its seventh adopted school, Government Day Primary, as part of its ‘Adopt-A-School’ corporate social responsibility initiative. According to a statement released by Airtel on Tuesday, the project was inaugurated on March 24, 2023, in Pantami, Gombe State, by the Emir of Gombe, Alhaji Shehu Abubakar, and […]

Nigerian Coat of Arm
Business

Senate extends 2022 budget implementation 

The Senate has extended the implementation period of the capital component of the 2022 budget until June 30, 2023, instead of the initial deadline of March 31. The Punch reported that the extension came after a request for an amendment to the Appropriation Act 2022 by the Senate leader, Senator Gobir. The lawmakers relaxed their […]

Gold prices rise, US dollar weakens as European markets reopen
Business

Gold prices rise as US dollars dip

Gold prices edged higher on Tuesday, despite the presence of higher bond yields and waning fears of a banking crisis, Reuters reported. The weaker US dollar lent support to the safe-haven asset, with spot gold up by 0.3% to $1,961.70 per ounce at 10:25 a.m. EDT. Meanwhile, US gold futures rose 0.5% to $1,963.70. The […]

A car exhaust system
Business

EU approves law to end CO2 emitting cars 

The energy ministers of European Union countries on Tuesday granted their final approval for a groundbreaking law that would put an end to the sale of new cars emitting CO2 by 2035. Reuters reported that Germany managed to secure an exemption for vehicles powered by e-fuels. E-fuels can be considered as a form of carbon-neutral […]

Jack Mi
Business

Alibaba to split business into six units 

Alibaba Group Holding Ltd has on Tuesday announced it plans to divide its business into six main units that will focus on e-commerce, media, and cloud. According to Reuters, the company also stated that each unit will consider raising funds or holding initial public offerings. Alibaba is a Chinese multinational technology company specializing in e-commerce, […]

How mobile subscriptions hit 4.61 million in 2022 - NCC
Telecommunications

How mobile subscriptions hit 4.61 million in 2022 – NCC

New industry figures from the Nigerian Communications Commission show that mobile subscriptions have increased by 4.61 million, reaching 226.84 million in 2022. The Punch reported that this continues the upward trend in the telecommunications industry that has been seen since 2022. In February 2023, the total number of mobile subscriptions rose to 226.84 million from […]

CBN, NiMet collaborate on food security
News

CBN, NiMet collaborate on food security

In order to increase the nation’s food security, the Nigerian Meteorological Agency and the Central Bank of Nigeria have signed a Memorandum of Understanding. According to the News Agency of Nigeria, when a delegation from the CBN visited NiMet on Monday in Abuja, NiMet’s Director-General, Prof. Mansur Matazu, announced that the cooperation will raise Nigerians’ […]

Why stakeholders must create sustainable insurance policy
Insurance

Why stakeholders must create sustainable insurance policy

Vanessa Anetoh   The Institute of Loss Adjusters of Nigeria has stressed the need for stakeholders to develop sustainable insurance policies in Nigeria’s risk industry. This was disclosed over the weekend at the ILAN’s 13th president’s investiture in Lagos State. Guardian reported that the approach aims to equip industry players with the necessary tools to […]

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