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SpaceX completes acquisition of AI coding startup Cursor

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Global goods trade rises 12.5% to $13.7tn in H1

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Banking

Afreximbank allocates $3b to boost Africa’s refining capacity

Afreximbank has committed $3 billion to finance the purchase of refined products within Africa as part of efforts to increase the continent’s refining capacity. Africa currently exports around 80% of its crude oil and 45% of its natural gas, making it heavily reliant on imported refined products, according to the bank. Sub-Saharan Africa’s energy landscape […]

Amazon cuts jobs in books division amid broader efficiency push
News

Amazon upgrades Nova Reel AI to generate longer, multi-shot videos

Amazon has rolled out a major upgrade to its generative video model, Nova Reel, expanding its capabilities to produce videos up to two minutes in length and offering users greater creative control. Launched in December 2024, Nova Reel marked Amazon’s entry into the competitive generative video space, joining offerings from OpenAI, Google, and others. The […]

IBM unveils AI-driven mainframe to accelerate enterprise innovation
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IBM unveils AI-driven mainframe to accelerate enterprise innovation

IBM has announced the launch of its latest mainframe hardware, the IBM z17, as part of its efforts to deepen artificial intelligence adoption across industries. The new system, revealed on Monday, is designed to handle over 250 AI use cases, including generative AI and AI agents, and features a range of upgrades aimed at maximizing […]

Trump signs executive order establishing US Bitcoin reserve
World

China rejects Trump’s tariff threats, vows to ‘fight to the end’

China’s Commerce Ministry expressed strong opposition to U.S. President Donald Trump’s threat to raise tariffs, promising to take countermeasures to protect its rights and interests. This came after Trump announced plans to impose a 50% duty on U.S. imports from China unless Beijing removes the 34% tariff it recently imposed on American goods. “The U.S. […]

Defunct Diamond Bank's ex-chairman Pascal Dozie dies at 86
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Defunct Diamond Bank’s ex-chairman Pascal Dozie dies at 86

One of Nigeria’s most respected business icons and the founder of Diamond Bank, Pascal Dozie, has passed away at the age of 86. Family sources confirmed that Dozie died after a period of illness associated with old age. A towering figure in Nigeria’s economic and corporate space, Dozie’s legacy spans decades of pioneering work in […]

Soybean prices rise above ₦950, AFEX predicts further increase
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Soybean prices rise above ₦950, AFEX predicts further increase

Soybean prices have climbed above ₦950 in Nigeria’s commodities market, marking a 15% increase and the fourth time this year the commodity has reached such a high. This rise follows projections by Africa Exchange, which had earlier forecast a 23% year-on-year increase in soybean prices for 2025. The current price surge comes on the heels […]

News

Plateau, NRC sign deal to reopen Jos–Kuru rail corridor

The Plateau State Government has signed a Memorandum of Understanding with the Nigerian Railway Corporation to reopen and operate the long-dormant Jos–Kuru rail corridor in a major move to revitalize transport infrastructure and boost economic activity. The agreement, reported by the News Agency of Nigeria on Monday, is poised to enhance regional mobility and trade […]

Sweden launches largest African innovation hub in Lagos
News

Sweden launches largest African innovation hub in Lagos

Sweden has announced the opening of its largest innovation hub in Africa, situated in Lagos State, Nigeria, signaling a major stride in bilateral cooperation between the two nations. The announcement was made on Monday during a meeting between Nigeria’s Vice President, Kashim Shettima, and Her Royal Highness, Crown Princess Victoria of Sweden, at the Presidential […]

Electricity

FG restructures TCN into two entities amid Nigeria’s electricity woes

The Minister of Power, Chief Adebayo Adelabu, has announced the unbundling of the Transmission Company of Nigeria into two separate entities: the Nigeria Independent System Operator and the Transmission Service Provider. Adelabu made this disclosure at the first edition of the Corporate Governance Forum in Nigeria, held on Monday in Abuja. He emphasized that the […]

No plans to increase fuel price - NNPCL
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NNPCL workers threaten strike over external appointments into top roles

Workers of the Nigerian National Petroleum Company Limited have issued a stern warning to the newly appointed Group Chief Executive Officer, Bayo Ojulari, over alleged plans to appoint external candidates to top management positions. In a letter jointly signed by leaders of the Petroleum and Natural Gas Senior Staff Association of Nigeria and the National […]

News

DMO launches April FGN savings bond with 17.046% interest

The Debt Management Office of Nigeria has launched the subscription for the April 2025 FGN Savings Bond, offering interest rates of up to 17.046% per annum for retail investors. According to the DMO’s official notice, the bond offering is structured as follows: 2-Year FGN Savings Bond due April 16, 2027: 16.046% per annum; 3-Year FGN […]

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