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Tech

PayPal launches AI-powered products

PayPal on Thursday, announced the launch of innovative products powered by artificial intelligence, including a streamlined one-click checkout feature. This marks the first significant initiative under the leadership of Alex Chriss as CEO, who joined the company in September. These new offerings highlight the ongoing trend of companies leveraging investor excitement around AI, a factor […]

Aviation

US aviation allows Boeing 737 Max 9 flights, imposes production limits

The United States Federal Aviation Administration has announced a conditional pathway for the resumption of Boeing 737 Max 9 flights, but a crucial restriction prevents Boeing from expanding production of its Max jets, including the 737-9 Max variant. The Times reported that this decision follows a previous incident in which a part of an Alaska Airlines […]

Iranian hackers target US elections, Microsoft warns
Crypto

Hackers stole $1.7bn crypto in 2023 – Report

In 2023, cryptocurrency platforms experienced approximately $1.7 billion in theft due to hacker attacks, a significant drop of 54.3% from the previous year, a report released by Chainalysis on Wednesday said. The crypto industry continues to grapple with cyber attacks, which remain a major concern and contribute to the skepticism of regulators worldwide towards cryptocurrencies. […]

Maize, paddy rice prices to increase in 2024 - AFEX
Business

Maize, paddy rice prices to increase in 2024 – AFEX

AFEX forecasts that maize and paddy rice prices in Nigeria will climb by 25% and 40%, respectively, this year. The forecast was included in the report, which was released on Wednesday in Lagos. Maize prices fluctuated substantially in 2023, peaking at N550,000/mt in Q3 and closing at N480,000/mt. AFEX also predicted that key export commodities […]

NNPCL fuel subsidy gains not fully remitted - World Bank
Economy

W’Bank predicts 3.7% growth for Nigeria’s economy in 2025

The World Bank’s recent report, “Global Economic Prospect: Subdued Growth, Multiple Challenges,” estimated that Africa’s largest economy will grow by 3.3%, up from 2.9% in 2023. According to the research, “Growth in Nigeria is projected to be 3.3% this year and 3.7% in 2025—up 0.3 and 0.6 percentage points, respectively, since June—as macroeconomic reforms gradually […]

NGX to draw in more investors - CEO
Business

NGX index exceeds 100,000 points

The benchmark index of the Nigerian Exchange Limited broke beyond the 100,000 basis point barrier on Wednesday, creating a new record high. The PUNCH reported that at the closing of trade, the local bourse’s All-Share Index rose 2,954.14 points, or 2.99 per cent, to a record high of 101,571.11. The ASI ended 2023 at 74,773.77, […]

Google unveils AI-powered educational tools
Tech

Google unveils AI-powered educational tools

Google has launched a suite of new tools for classroom management, enhanced accessibility, and AI-powered capabilities for generating questions and crafting lesson plans. Google’s Classroom already enables teachers to append questions to YouTube videos within assignments. The tech giant announced that soon, AI will offer question suggestions at various points in the video. This feature […]

Opay warns users against crypto trading on platform
Tech

Opay to remove fraudulent accounts from system

Leading fintech company in Nigeria, OPay, has announced that it will be purging fraudulent accounts from its system starting March 1, 2024. This was disclosed at a press conference on Wednesday, where the mobile money firm also noted that accounts not compliant with Know Your Customer regulations will be blocked. KYC is a mandatory process […]

Economy

Inflation’ll drop to 21.4% in 2024 – CBN gov

The Governor of the Central Bank of Nigeria anticipates that headline inflation will decrease to 21.4 percent in 2024. This projection was revealed in his keynote address at the unveiling of the Nigerian Economic Summit Group’s macroeconomic outlook report for 2024. During his speech, he explained, “Owing to the CBN’s inflation-targeting measures, we expect a […]

eBay plans to lay off 1,000 workers
Business

eBay plans to lay off 1,000 workers

Alex Omenye E-commerce giant eBay said on Wednesday that it intends to lay off 1,000 workers, or around 9% of its staff due to the current state of the economy. In a blog post, the company announced that it will be eliminating contract positions in the upcoming months. CEO Jamie Iannone acknowledged that although the […]

US mission in Nigeria launches tech centre in Lagos
Tech

US mission in Nigeria launches tech centre in Lagos

Alex Omenye The United States Mission in Nigeria has launched an advanced American Space in Lagos, named the American Corner Lekki. The centre is aimed at promoting youth innovation, entrepreneurship, and creativity. This technology hub aligns with the Biden Administration’s U.S. Strategy for Sub-Saharan Africa, emphasizing digital transformation and the development of an inclusive digital […]

Fuel, electricity tariff cap costly, IMF warns Nigeria
Business

IMF expresses concerns over Kenya’s fuel subsidy reintroduction

The International Monetary Fund has raised concern over Kenya’s plan to reintroduce fuel subsidies. Business Insider reported that the global lender expressed reservations about the scheme’s feasibility, stressing that Kenya may not be able to pay oil traders due to financial constraints. The bank also mentioned an unpaid bill in the sector stating that Kenya may […]

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