FG Shuts Illegal Online Banks Over Abuse Of Customers Privacy
The Federal Competition and Consumer Protection Commission, in cooperation with the Independent Corrupt Practices and Other Related Offences Commission, the National Information Technology Development Agency, and the Nigerian Police Force, raided some unlawful financial institutions on Opebi Road in Ikeja, Lagos, on Friday. GoCash, Okash, EasyCredit, Kashkash, Speedy Choice, and Easy Moni were among the […]
McDonald’s, Starbucks, Coke, Pepsi Join Exodus Out Of Russia
McDonald’s, Starbucks, Coca-Cola, PepsiCo and General Electric __ ubiquitous global brands and symbols of U.S. corporate might __ all announced Tuesday they were temporarily suspending their business in Russia in response to the country’s invasion of Ukraine. “Our values mean we cannot ignore the needless human suffering unfolding in Ukraine,” McDonald’s President and CEO Chris […]
Shell Won’t Buy Any More Russian Oil And Gas
Russia is finding it ever harder to sell its oil and gas. Shell (RDSA) said Tuesday it was breaking completely with Russia’s giant energy industry, halting all purchases of Russian crude oil immediately and shutting its service stations in the country. The UK-based company, which last week announced it was dumping its investments in Russia, said its decision to abandon […]
Russia Says It May Cut Gas Supplies If Oil Ban Goes Ahead
Russia has said it may close its main gas pipeline to Germany if the West goes ahead with a ban on Russian oil. Deputy Prime Minister Alexander Novak said a “rejection of Russian oil would lead to catastrophic consequences for the global market”, causing prices to more than double to $300 a barrel. The US […]
Visa, Mastercard Suspend Operations In Russia Over Ukranian Invasion
U.S. payments firms Visa Inc (V.N) and Mastercard Inc on Saturday said they were suspending operations in Russia over the invasion of Ukraine, and that they would work with clients and partners to cease all transactions there. Within days, all transactions initiated with Visa cards issued in Russia will no longer work outside of the country and […]
Samsung Electronics Suspend Export Of Smartphones, Chip To Russia
Samsung Electronics has suspended shipments to Russia due to “geopolitical developments,” the company said on Saturday, as prominent corporations such as Apple broke connections with Russia following its invasion of Ukraine. The South Korean tech behemoth is the world’s largest memory chip manufacturer and Russia’s top smartphone seller. “Due to current geopolitical developments, shipments to […]
Bipartisan Calls For Russian Oil Ban, Meet Resistance From White House
Bipartisan calls are growing on Capitol Hill for the United States to ban imports of oil from Russia over its invasion of Ukraine, but the White House stopped short of an outright ban — and experts said the impact would be limited. The United States and other Western nations have imposed an unprecedented raft of sanctions on […]
As Tensions Simmer, China Demands US Action To Improve Ties
China’s top diplomat called on the U.S. Monday to take steps to improve ties, as tensions simmer over Taiwan, trade and other issues. Foreign Minister Wang Yi’s remarks Monday were delivered virtually to a forum marking the 50th anniversary of the Shanghai Communique signed during the icebreaking 1972 visit to China by President Richard Nixon. That trip led […]
Russia Doubles Interest Rate After Rouble Slumps
Russia has more than doubled its interest rate to 20% in a bid to halt a slump in the value of its currency. The Bank of Russia raised the rate from 9.5% after the rouble sank 30% after new Western sanctions. The currency then eased back to stand 20% down. The collapse in value erodes […]
Dangote, Flour Mills Reprimand BUA Over Alleged Suspension Of Sugar Sales
BUA Foods Plc has been reprimanded by Dangote Sugar Refinery Plc and Flour Mills of Nigeria Plc for accusing them of suspending sugar sales. Flour Mills had suspended sugar sales since the government had refused the 2022 raw sugar allotment, according to BUA Foods in an adorial published on Monday. Dangote Sugar was also accused […]
