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 […]
Nigerian Banks To Emerge Highest Beneficiaries Of AfTCA
With the commencement of the African Continental Free Trade Area (AfCFTA) agreement on January 1, 2021, analysts and stakeholders have expressed optimism of Nigerian banks readiness, saying the financial sector stands to benefit most from the continental agreement. The analysts, in separate interviews on Thursday added that with most Tier-1 banks already operating in many […]
Nigeria In Debt:Owes IMF, World Bank, Others $31.98bn
Nigeria’s bilateral and multilateral debts stood at $31.98 billion as of September 2020, according to the latest figures released by the Debt Management Office (DMO). The outstanding debts are not only owed to bilateral and multilateral institutions but also include commercial loans from Eurobonds and Diaspora Bond. Bilateral debts are those arising from country-to-country loans […]
Nigeria To Cut Production By 939,000bpd In Three Months-OPEC
The Organisation of Petroleum Exporting Countries (OPEC) on Tuesday upheld its December 3, 2020 decision to increase crude oil production output by 500,000 barrels per day for February and March, 2021. The plan will, however, see Nigeria cut production by an additional 939,000 barrels in adherence to the resolution, with reference production set for the […]
OPEC+ Meeting Ends With Major Surprise Cut From Saudi Arabia
After another round of drama and a stalling of the talks on Monday, the Tuesday extension of the OPEC+ meeting concluded at long last with a solution upon which all OPEC+ members agreed. But it didn’t end the way anyone thought it would. Tuesday’s meeting saw the groups agree to lift oil production by 75,000 […]
