Increase In Alibaba Shares As Jack Ma Reappears
Shares in internet giant Alibaba soared more than eight percent Wednesday after billionaire founder Jack Ma made his first public appearance since November, ending weeks of speculation about his whereabouts after the company took a kicking from Chinese regulators. Ma — one of Asia’s richest people with a fortune estimated at around $58 billion — […]
Vice-Chairman Of Samsung Electronics Jailed Two and A Half Years For Bribery
Billionaire Vice Chairman of Samsung Electronics, Lee Jae-yong was sent back to prison on Monday after a South Korean court sentenced him to two and a half years over his involvement in a 2016 corruption scandal that spurred massive street protests and ousted South Korea’s then-president. In a much-anticipated retrial, the Seoul High Court found […]
Tesla Starts Delivery Of Shanghai-made Model Y SUVs In China
Tesla Inc said on Monday it has started delivering its Shanghai-made Model Y sports utility vehicles to customers in China. A representative for the U.S. automaker made the comment in response to a query from Reuters. The company obtained permission to start selling the cars from the Chinese government in November and has set a […]
Nigeria:96 Companies Indicate Interest To Rehabilitate NNPC
Ninety-six companies from various jurisdictions have indicated interest in rehabilitating the Nigerian National Petroleum Corporation (NNPC) downstream infrastructure, including critical pipelines, depots and terminals. A statement Thursday in Abuja by the Group General Manager, Group Public Affairs Division of the NNPC, Dr. Kennie Obateru, said the 96 companies emerged during a virtual public bid opening […]
Bullets Sent To Huawei’s Finance Chief Meng Wanzhou
Top Huawei executive Meng Wanzhou has been sent bullets in the mail while under house arrest in Vancouver, according to court testimony. It was one of several alleged death threats revealed on Wednesday by the company providing her security. Ms Meng was detained in 2018 on charges relating to allegedly misleading HSBC about Huawei’s dealings […]
Softbank Group Sells Uber Shares Worth $2bn
Japan’s SoftBank Group has sold $2 billion-worth of shares in Uber, according to a document released Monday, as it took advantage of a surge in the US ride-hailing giant’s value. An affiliate of SoftBank’s Vision Fund sold 38 million shares for $53.46 apiece, according to a US stock filing on Uber’s website, though it still […]
AfDB Mobilises $6.5bn To Stop Sahara Desert From Spreading South
The African Development Bank says it is mobilising $6.5 billion in support of the Great Green Wall project, which involves large-scale efforts to stop the Sahara Desert from spreading further south over the next five years. President of Africa’s multilateral development finance institution Akinwumi Adesina, announced this while addressing President Emmanuel Macron, His Royal Highness […]
Twitter Shares Tumble More Than 10% After Site Permanently Bans Trump
Shares of Twitter sank more than 10% on Monday after the social media company permanently banned President Donald Trump from the platform late last week. The tech company suspended Trump’s account on Friday in a move to prevent him from using the platform to incite further unrest among his supporters following the violent protests at […]
Coca-Cola Nigeria – Alfred Olajide Assumes The Position Of Managing Director
The Coca-Cola Company has appointed Alfred Olajide as its new Vice President and Managing Director for its Nigeria Operations following a reorganization of the Coca-Cola Company’s global leadership structure. Alfred Olajide brings several years of experience to bear in his new role, nine of which were at The Coca-Cola Company having served in different capacities […]
IMF Board Raises Reserve Target, Cites Increased Credit Exposure Risks
The Executive Board of the International Monetary Fund has agreed to raise the medium-term target for the fund’s precautionary reserves given a sharp increase in financial risks since 2018, the IMF said on Friday. The fund’s 24 executive directors increased the target to Special Drawing Rights 25 billion, or around $36 billion, from SDR 20 […]
