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Apple unveils new MacBook Pro models
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Apple unveils new MacBook Pro models

Apple has launched new MacBook Pro models featuring advanced processors tailored for demanding tasks such as photo and video editing, enhancing the brand’s appeal among creative professionals. The new 14-inch MacBook Pro will start at $1,599, while the 16-inch version, equipped with the base M4 chip, will begin at $2,499. Higher-end models will feature the […]

Amazon increases AI spending to $100bn
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Remote work: Amazon employees reject return-to-office policy

Amazon employees numbering 500 have sent a letter to the CEO of its Amazon Web Services division, urging him to reconsider the company’s new five-day return-to-office mandate. The letter, sent on Wednesday, expresses discontent with AWS CEO Matt Garman’s claim that there is broad support for the policy, stating that employees who oppose it should […]

Snapchat gains 11m users worldwide
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Snapchat gains 11m users worldwide

Snap Inc. reported impressive quarterly results on Tuesday, exceeding Wall Street’s forecasts for both revenue and user growth. The parent company of Snapchat has successfully attracted advertisers back to its platform by enhancing its advertising features. In addition to the positive earnings report, Snap announced a share repurchase program of up to $500 million. Following […]

News

FG plans 800 airport taxi vehicles conversion to CNG

The Federal Government, through the Presidential Compressed Natural Gas Initiative, has reached an agreement with taxi operators at Nnamdi Azikiwe International Airport in Abuja. This partnership aims to convert 800 petrol-powered vehicles to Compressed Natural Gas, which is expected to reduce shuttle fares by 30%. The Programme Director and Chief Executive of P-CNGI, Mr. Michael […]

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Volkswagen operating profit drops by 42% in 2024 Q3

German automaker, Volkswagen announced a significant 42% drop in operating profit for the third quarter of 2024. The company’s operating profit fell to 2.86 billion euros ($3.1 billion), as third-quarter sales revenues decreased by 0.5% year-on-year to approximately 78.5 billion euros, according to CNBC. Volkswagen attributed the decline to an 8.3% drop in vehicle sales […]

Hacker group Lockbit leaks Boeing data
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Airline conference: Boeing to prioritise Nigerian aviation stakeholders

Boeing has announced plans to facilitate connections between Nigerian airlines and international investors at the upcoming Airline Economics Conference in Dublin, scheduled for January 12 to 15, 2025. This was disclosed in a letter to Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, dated October 24, 2024, where the director of Boeing’s commercial sales, […]

News

Building collapse: FG unveils tribunal to check unprofessionalism

The Federal Government has officially inaugurated the Builder’s Disciplinary Tribunal, a strategic initiative designed to enhance accountability within the building profession. The event took place on Tuesday in Abuja, led by Minister of Housing and Urban Development, Ahmed Dangiwa, according to The Punch. During the event, Dangiwa stated the critical role of professional ethics in […]

has presented its 2024 Regulatory Impact Assessment, a comprehensive review aimed at overhauling existing telecom regulations
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Nigeria’s broadband penetration falls to 41.56%

Broadband penetration in Nigeria fell to 41.56% in September, down from previous levels, as efforts to reach 70% through the National Broadband Plan (2020-2025) continue. This decline in broadband penetration is highlighted in the latest industry data released by the Nigerian Communications Commission. The NCC reported a decline in high-speed internet access, with users dropping […]

Nigeria, others spent $1.4trn on debt servicing in 2023 - World Bank
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Avoid forex auction interventions, W’Bank advises CBN

The Central Bank of Nigeria has been advised against intervening in the foreign exchange market through forex auctions. The World Bank’s policy advisory, included in the Nigeria Development Update, emphasizes the need for a comprehensive and transparent framework for exchange rate interventions to support flexibility. On August 26, 2024, the CBN auctioned $876.26 million to […]

News

32 states rely on FAAC for 55% of revenue – BudgIT

A new report by BudgIT reveals that 32 of Nigeria’s 36 states relied on allocations from the Federation Account Allocation Committee for at least 55% of their total revenue in 2023. This over-dependence on federal transfers exposes states to vulnerabilities, particularly related to fluctuations in oil revenue. The 2024 State of States report, launched in […]

NNPCL sets fuel price above N1000 per litre
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Again, NNPCL raises petrol price to N1,060/litre

The Nigerian National Petroleum Company Limited has adjusted the pump prices three weeks after raising the price of Premium Motor Spirit, also known as petrol. On Tuesday, the NNPCL increased the retail price of petrol in Abuja from N1,030 to N1,060 per litre, as observed at multiple NNPCL stations in the Federal Capital, according to […]

Nigeria's external reserves rise to $36.89bn — CBN gov
News

Naira strengthens to 1630/$ at official market

The Naira on Tuesday strengthened in the official market, rising to 1,630.45/$ from 1,670.65/$ in the previous trading session, reflecting a 2.41 per cent appreciation. Data from the FMDQ Exchange, home to the Nigerian Autonomous Foreign Exchange Market, indicated that daily turnover also saw a significant increase. At the close of trading, turnover reached $242.59 […]

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