Bitcoin Crosses $60,000 Again
Bitcoin rose above $60,000 to approach record highs on the weekend, breaking out of a two-week tight range and propelled by talk of constrained new supplies against evidence of wider adoption. The world’s biggest and best-known cryptocurrency hit $61,222.22 on Saturday, its highest in nearly a month. It was slightly lower at $59,907 at 0500 […]
Lil Nas X ‘Satan Shoes’ to Be Recalled as Nike Agrees to Settle Lawsuit
Nike says the art collective which made “Satan Shoes” that contain a drop of human blood in the soles has agreed to issue a voluntary recall as part of a legal settlement. The controversial shoes were produced by the Brooklyn collective in collaboration with rapper Lil Nas X, who held the last pair so he […]
China Fines Alibaba Record $2.75bn for Anti-monopoly Violations
Chinese regulators have fined Alibaba Group Holding Ltd 18 billion yuan ($2.75 billion) for violating anti-monopoly rules and abusing its dominant market position, marking the highest ever antitrust fine to be imposed in the country. The penalty, equivalent to around 4% of Alibaba’s 2019 revenues, comes amid an unprecedented regulatory crackdown on home-grown technology conglomerates […]
World Bank To Help Nigeria Lift 100 Million Out Of Poverty
The President of the World Bank Group, Mr. David Malpass, on Wednesday said the multilateral institution is focused on supporting the federal government’s bid to lift 100 million Nigerians out of poverty. Malpass said during a media briefing at the ongoing virtual World Bank/International Monetary Fund (IMF) spring meetings in Washington DC that the World […]
IMF Raises Nigeria’s 2021 GDP Growth Forecast to 2.5%
The International Monetary Fund (IMF) has revised upward its growth forecast for the Nigerian economy in 2021 from one per cent it had predicted in January to 2.5 per cent. IMF, in its latest World Economic Outlook titled: “Managing Divergent Recoveries,” that was released yesterday, however, expects a 2.3 per cent economic growth for the […]
Nigeria: Central Bank Chief, Comms Minister Settle Banks, MTN’s Dispute Over Commission
Four days after commercial banks disconnected customers of MTN Nigeria from the use of the Unstructured Supplementary Service Data (USSD) code for airtime vending, the banks on Sunday reconnected them following the intervention of the Minister of Communications and Digital Economy, Dr. Isa Ibrahim Pantami and the Governor of Central Bank of Nigeria (CBN), Mr. […]
Nigeria Lifted $33bn Crude, Condensates in One Year, NNPC Says
A cumulative volume of 734 million barrels of crude oil and condensates were lifted by all parties, including oil multinationals and the Nigerian Petroleum Development Company (NPDC) between October 2019 and October 2020, the Nigerian National Petroleum Corporation (NNPC) has said. In terms of accrual values for the lifted barrels, the NNPC data showed that […]
Nigeria Activates $587m AfDB Facility For Technology, Creative Sectors
The Buhari administration has commenced the process that will pump the technology, entertainment and creative sectors with over N240 billion in financing and investment set to take off by the end of the year. A presidential source said at the weekend that the financing, which is a $500 million loan to be sourced from the […]
Nigeria’s Asset Management Company Starts New Airline to Recover Arik’s Debts
The Asset Management Corporation of Nigeria (AMCON) has said that in order to recover its huge debts from Arik Air, it injected over N375 billion in the airline and established another carrier, NG Eagle, which in the future would run along with Arik Air. AMCON stated that it sustained Arik Air operations since it took […]
With Ship Now Freed, Probe into Suez Canal Blockage Begins
Experts are boarding the massive container ship that had blocked Egypt’s vital Suez Canal and disrupted global trade for nearly a week, seeking answers to a single question: What went wrong? As convoys of ships again began traveling in this artery linking East and West, hundreds more idled waiting for their turn in a process […]
