Italian Court Frees Shell, Eni in $1.3bn Nigerian Oilfield Corruption Case
A Milan court on Wednesday acquitted energy companies, Eni and Royal Dutch Shell, along with some of their past and present managers, including Eni Chief Executive, Claudio Descalzi, in one of the oil industry’s biggest corruption scandals. The judgment read out in court by Judge Marco Tremolada, came more than three years after the trial […]
Kanye West Now ‘Richest Black Person In US History’ With $6.6 Billion Net Worth
Now worth a whopping $6.6 billion, producer, rapper, and fashion mogul Kanye West is the richest African American in the United States, according to Forbes Magazine. He is now also the third richest celebrity in the world, behind only Steven Spielberg ($7 billion) and George Lucas ($10 billion). He is also reportedly the richest Black person […]
Flutterwave Now Allows African Merchants Receive Payment From PayPal’s 377m Users
African payments company Flutterwave on Tuesday announced a collaboration with PayPal to allow PayPal customers globally to pay African merchants through its ‘Pay with PayPal’ feature. Via this partnership, African businesses can connect with the more than 377 million PayPal accounts globally and overcome the challenges presented by the highly fragmented and complex payment and banking infrastructure on the continent. According […]
Nigeria’s Inflation Rate Rises to Four-year High of 17.33%, Food Inflation Highest in 11 Years
Nigeria’s consumer price index, which measures the rate of increase in the price of goods and services, rose to 17.33 percent in February hitting a four year high. According to the CPI/Inflation report released by the National Bureau of Statistics (NBS) on Tuesday, the food inflation stood at 21.79 percent, the highest point since the […]
British Airways Calls For Vaccinated People To Travel Without Restrictions
British Airways’s new boss said vaccinated people should be allowed to travel without restriction and non-vaccinated people with a negative Covid-19 test, as he set out his ideas for a travel restart a month before the UK government finalises its plans. Holidays will not be allowed until May 17 at the earliest, the UK government […]
US Judge Removes China’s Xiaomi From Trump-Era Blacklist
A US judge on Friday ordered Chinese smartphone maker Xiaomi temporarily removed from a government blacklist barring American investment in the company. Six days before Donald Trump left office last year, his administration cemented its trade war legacy against Beijing with a series of announcements targeting Chinese firms including Xiaomi, state oil giant CNOOC, and […]
UK Exports To EU Slump In First Month Of New Brexit Trade Ties
Exports and imports from Britain to the European Union plunged during the first month of the country’s new trade relationship with the bloc, according to data published on Friday with some heavy caveats. Exports of goods to the EU, excluding non-monetary gold and other precious metals, slumped by 40.7% in January, the Office for National […]
Nigerian Payments Company Flutterwave Raises $170m, Now Valued At Over $1bn
The proliferation of fintech services across Africa remains in full swing as investors remain bullish about the opportunities that abound in the sector. Flutterwave, African-focused payments company has announced that it has closed a $170 million Series C round, valuing the company over $1 billion. According to Techcrunch, the funding round was led by […]
Nigeria: Pressure Mounts On Government To Save Oil Windfall As Price Rallies At $71
With the sustained rally of crude oil prices, there is pressure on Nigeria’s federal government to save the windfall as analysts and the organised private sector (OPS) predict a surge in revenues that will position Nigeria to attract more Foreign Portfolio Investors (FPIs). The analysts urged the federal government to ensure that the extra revenue […]
Tesla Loses Third of Its Value For The Third Time In A Year
Tesla Inc’s stock extended losses on Monday and is now down by a third from its January record high, making it the third time in about a year that the electric car maker’s shares have corrected that dramatically. With investors worried about rising interest rates and dumping high-valuation stocks in recent weeks, Tesla’s market capitalization […]
