How Apple demanded $1bn incentive from Qualcomm – CEO

Qualcomm sought to become the sole supplier of modem chips for Apple’s iPhone to recoup a $1-billion “incentive payment” that Apple insisted on, not to block rivals from the market, Qualcomm’s chief executive testified on Friday. The payment from Qualcomm to Apple – part of a 2011 deal between Apple and Qualcomm – was meant […]

World Bank: US-China trade war damaging global economy

World Bank says China-US trade war has grave consequences on global economy Trade war between the world’s two largest economic powers already is inflicting collateral damage and threatens to do yet more harm to the global economy, the World Bank warned Tuesday. And the global slowdown is beginning as government and corporate debt rise, especially […]

New Abuja airport terminal opens for business

opens for business By Sumaila Ogbaje The new terminal at the Nnamdi Azikiwe International Airport, Abuja, is now being used, with Asky Airlines leading the way. Asky Airlines’ B737-700 aircraft with flight number ET-AVP, which landed at the airport at 3:30 p.m from Lome in Togo, had 91 persons on board comprising 85 passengers and […]

Africa’s richest woman speaks on economic empowerment of women

Isabel dos Santos, Africa’s richest woman speaks on women empowerment At a United Nations debate in New York, Isabel dos Santos, who is currently the richest woman in Africa, spoke of the economic empowerment of African women as a key to transforming society. This and many of her other hopeful and encouraging messages have inspired […]

Subsidy: FG pays oil marketers, freezes interest on loan

Group Managing Director of the NNPC, Dr Maikanti Baru  Mr  Henry Ikem-Obih, Chief Operating Officer, Downstream, Nigerian National Petroleum Corporation (NNPC)  says the Federal Government has paid the agreed N236 billion as first tranche of the outstanding subsidy claims to oil marketers. Ikem-Obi, who disclosed this in an Interview with the News Agency  on Monday in Abuja, […]

Nigerians open one million bank accounts monthly: NIBSS

One million bank accounts opened monthly as financial inclusion rate increases, says NIBSS MD By Olawunmi Ashafa Mr Niyi Ajao, Managing Director, Nigeria Inter Bank Settlement System (NIBSS), says one million bank accounts are opened monthly by Nigerians as the nation’s financial inclusion rate increased to 63.6 per cent from 45.4 per cent recorded in […]

Mauritius leads Africa in global online shopping rankings, Netherlands first

The Netherlands has placed top of UNCTAD’s Business-to-Consumer (B2C) E-commerce Index for 2018 as the most prepared country in the world for global online shopping. Mauritius leads Africa, ranked 55th. The new index, released today in Nairobi, Kenya shows that eight of the top ten countries for online shopping are in Europe, with index values […]

Subsidy debt: Depot owners suspend strike, give 5-day grace

The Depot and Petroleum Products Marketers Association (DAPPMA) has suspended its planned shutdown of depots across the country from loading petroleum products effective from 12-midnight on Sunday, Dec. 9. The suspension directive was conveyed in a statement issued by DAPPMA Executive Secretary, Mr Olufemi Adewole, at about 1:20 a.m. on Monday in Lagos and made […]

Thugs disrupt TraderMoni scheme in Ilorin

File: Osinbajo taking TraderMoni to Igando in Lagos: The scheme disrupted in Ilorin today Hoodlums invaded the Mandate Market in Ilorin, Kwara State, today and scared away petty traders and TraderMoni agents, disrupting the disbursement of money to beneficiaries of the scheme. As early as 9am, the hoodlums, some of them wearing ‘PDP Atikulated T-shirts’, […]

NNPC targets 10% share of global LNG market

As part of its strategic aspirations to drive maximum value from Nigeria’s abundant natural gas resources, the Nigerian National Petroleum Corporation (NNPC) is targeting 10 per cent market share of the global Liquefied Natural Gas (LNG) market. Group Managing Director of the NNPC, Dr Maikanti Baru, expressed the Corporation’s commitment at the opening ceremony of […]