Samsung plans $7bn stock buyback
Samsung Electronics has announced a plan to buy back 10 trillion won ($7.2 billion) of its shares over the next year, marking one of the largest shareholder return programs in…
TikTok introduces AI video creation tool
TikTok, owned by ByteDance, has announced the global rollout of its Symphony Creative Studios, a generative AI-powered platform for video creation, now available to all advertisers. This move is part…
Promissory Notes debt climbs to N1.65tn in June 2024
The Federal Government’s Promissory Notes debt had risen to N1.65 trillion in June 2024, reflecting a 6.5% increase from March 2024. This marks a significant 114% rise since President Bola…
NPA directs shippers to setup empty containers’ storage
The Nigerian Ports Authority has instructed all shipping companies operating in the country to set up designated holding bays for the storage of empty containers following a stakeholders' meeting in…
Oil prices fall amid demand concerns in China
Oil prices dropped on Friday, driven by concerns over weak demand in China, the world’s largest crude importer, as its economic recovery remains sluggish. Brent crude futures had fallen by…
RMRDC, lawmakers move to curb locally sourced materials’ importation
The Raw Materials Research and Development Council of Nigeria is collaborating with lawmakers to pass legislation that would restrict the importation of raw materials that can be sourced locally. The…
FX crisis stalls SMEs’ expansion, operators lament
Operators of Small and Medium Enterprises in Nigeria are expressing growing concerns about the feasibility of expanding their businesses due to a challenging economic climate. The foreign exchange crisis, which…
Sub-Saharan Africa requires global funding – IMF
The International Monetary Fund has stated that countries in sub-Saharan Africa require international funding to address key macroeconomic imbalances in the region. This was revealed during the presentation of the…
Access Bank to acquire Mauritius lender’s majority stake
Access Bank has announced an agreement to acquire a majority stake in Afrasia Bank Limited, the fourth-largest bank in Mauritius, with total assets of $5.7 billion as of mid-2024. The…
FG approves 2025-2027 medium-term expenditure framework
The Federal Government has proposed a budget of N47.9 trillion for the 2025 fiscal year. This was disclosed by the Minister of Budget and Economic Planning, Atiku Bagudu, after a…
NNPC hits 1.8mbpd in crude output, eye 2mbpd by Dec
The Nigerian National Petroleum Company Limited has announced it has successfully ramped up crude oil and gas production to 1.8 million barrel per day and 7.4 billion standard cubic feet…
Copper prices drop below $9,000
Copper prices fell below $9,000 per ton, marking their lowest level in two months, as the U.S. dollar continued to strengthen following the recent election results Copper futures on the…
