Malaysian opposition lawmakers urged the central bank Thursday to reopen its investigation into indebted state investment fund 1MDB that is being probed in several countries for money laundering and implicating Prime Minister Najib Razak. Some 30 lawmakers staged a…
Equity inks Sh300m deal to finance small-scale farmers
Equity Bank and the Ministry of Agriculture have signed a Sh300 million agreement to finance farmers under phase two of the Agricultural Credit Guarantee Scheme (ACGS), in which the government provides collateral. The partnership is a risk-sharing arrangement where the government…
Pandora Media’s revenue beats on advertising boost
Pandora Media Inc reported better-than-expected quarterly revenue as advertisers spent more on the online music streaming service amid stiff competition.The company’s shares were up 1.4 percent in choppy after-hours trading on Monday. The stock was up 6 percent after the…
BP sees oil prices below $55 a barrel in 2018
BP expects global oil prices to hold within a range of $45-$55 a barrel next year as U.S. shale production grows, the British company’s chief financial officer said on Tuesday. After a slow start to the year, global oil demand…
Cameroon to boost LNG export from offshore projects
Cameroon has decided to start exporting liquefied natural gas (LNG) from its newly designed offshore plant by the end of 2017, focusing on slashing production costs and unlocking the potential of African reserves that were not so far considered economically…
Jack Ma’s visit to Africa questions Nigeria’s claim as giant of Africa
The African continent welcomed Jack Ma, CEO of Alibaba, to its shores last week. On this trip, Asia’s richest man made cursory stops in two African countries, preaching the gospel of entrepreneurship to thousands of entrepreneurs. While his visit reaffirmed…
Now Twitter is Losing Monthly Users in the U.S.
Twitter failed to attract more global monthly users in the second quarter, spooking investors looking for evidence that the company is on a sustainable long-term growth path. The shares tumbled more than 9% in early trading, even as quarterly revenue…
Foxconn Says It Plans to Build Factory in Wisconsin, Adding 3,000 Jobs
Foxconn, the Taiwanese electronics supplier for Apple and other tech giants, said Wednesday it would open its first major American factory in Wisconsin, a boost both for the battleground state’s economy and the Trump administration’s efforts to bolster domestic manufacturing.…
Naira Depreciates To N367/$1 As MPC Meeting Continues Today
The naira falls yesterday to N367 against the Dollar on the parallel market from N376 it opened for trading as the Central Bank of Nigeria (CBN) Monetary Policy Meeting commences today (Tuesday). The sell side of the naira exchange…
AfDB President To Commission $700,000 Building For Youth Agripreneurs
The President of the African Development Bank (AfDB), Dr Akinwumi Adesina is to commission the $700,000 building for youth agripreneurs as part of activities to mark the International Institute of Tropical Agriculture (IITA) at 50 The building is a…