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Fitch’s African loan assessment contradicts itself — Afreximbank executive

The Executive Vice President for Governance, Legal & Corporate Services at Afreximbank, Dr. George Elombi, has described Fitch Ratings’ assessment of the bank’s loans to African countries as a “contradiction.” He argued that while Fitch issued a negative outlook, it also projected that the same loan obligations would start being repaid within 18 to 24 months. […]

Trump considers sanctions against China’s DeepSeek
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Germany urges Apple, Google to ban DeepSeek over data breach 

A German data protection authority on Friday accused DeepSeek of unlawfully transferring user data to China and called on Google and Apple to consider blocking the AI app. Berlin’s data protection commissioner, Meike Kamp, said the app’s handling of German user data violates privacy laws. Chinese AI firm DeepSeek gained attention earlier this year after […]

Coscharis, Geely launch N1bn after-sales workshop in Nigeria
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Coscharis, Geely launch N1bn after-sales workshop in Nigeria

Coscharis Motors Plc, the exclusive distributor of Geely vehicles in Nigeria, has unveiled a state-of-the-art after-sales workshop valued at over ₦1 billion. The facility was officially launched on Thursday during a press briefing and guided tour in Lagos. The new workshop is part of Coscharis’ strategy to enhance the post-purchase experience for Geely owners across […]

Chinese hackers target Trump, Vance's phones
Business

China confirms deal with US to boost tech cooperation

The United States and China have agreed on a new trade framework designed to ease technology restrictions and support rare earth exports, according to a statement released Friday by China’s Ministry of Commerce. As part of the deal, China will process export applications for items under its control laws, while the U.S. will roll back […]

Stars gather for Bezos, Sanchez wedding as venue shifts amid protests
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Stars gather for Bezos, Sanchez wedding as venue shifts amid protests

The wedding celebrations of Amazon founder Jeff Bezos and former broadcaster Lauren Sanchez officially began Thursday in Venice, drawing a constellation of celebrities. The guest list glittered with global names. Kim Kardashian, flanked by her sister Khloe and mother Kris Jenner, was seen socializing with Orlando Bloom. Oprah Winfrey, Tom Brady, Bill Gates, and Leonardo […]

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Nigeria, Egypt, Morocco lead Africa’s $95bn remittance inflows 

Nigeria, Egypt, and Morocco were the top recipients of the $95 billion in remittances sent to Africa in 2024. This was disclosed in the State of Africa’s Infrastructure Report 2025 published by the Africa Finance Corporation. The report noted that diaspora remittances have proven more stable than both Foreign Direct Investment and official development assistance. […]

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Skyway Aviation records strong financial performance in 2024

Skyway Aviation Handling Company Plc has recorded a significant increase in revenue, reaching ₦28.9 billion in the 2024 financial year. The company also announced plans to acquire additional ground support equipment to enhance operations and serve more clients. These details were revealed in the 2024 Financial Year Report presented by the board and management of […]

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Nigeria’s development goals threatened by governance, institutional failures – AfDB

Persistent governance shortcomings continue to hinder Nigeria’s ability to mobilise development finance, despite recent economic reforms, according to the 2025 Nigeria Country Focus Report released by the African Development Bank. Launched in Abuja on Thursday and titled “Making Nigeria’s Capital Work Better for Its Development”, the report warns that Nigeria is struggling to attract and […]

Ethiopia welcomes foreign banks after decades of isolation
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Ethiopia welcomes foreign banks after decades of isolation

After more than half a century of keeping foreign banks at bay, Ethiopia is finally opening its financial sector — a dramatic shift from decades of strict protectionism rooted not just in economic nationalism, but in the need for state control. The country first shut its financial borders following the 1974 nationalisation of banks under […]

Nigeria Exchange in decline two weeks in a row
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Foreign investment on NGX surges by 88.54% in May 2025

Foreign portfolio investment on the Nigerian Exchange Limited rose sharply in May, increasing by 88.54 per cent to N118.91bn from N63.07bn in April 2025. This is according to the latest Domestic and Foreign Portfolio Investment Report by the Nigerian Exchange, which indicated a rise in both foreign inflows and outflows during the period. The report […]

UK, South Korea warn against cyberattacks from North Korea
Tech

Cyberattacks on SMEs surge by 115% in 2025 – Kaspersky

Small and Medium-scale Enterprises have seen a 115 per cent rise in cyber attacks involving fake productivity tools and artificial intelligence platforms, according to global cybersecurity firm Kaspersky. Kaspersky made this disclosure on Thursday, noting that the attacks occurred within the first four months of 2025. The report revealed that in 2025, nearly 8,500 users […]

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