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Huawei gets caught up in China territory controversy

China’s Huawei, the tech giant under scrutiny for its alleged links to the Chinese government, has become caught up in a controversy surrounding the representation of Taiwan. Huawei has come under fire for allegedly implying in its smartphone settings that Taiwan is independent. Despite a backlash on social media, Huawei has declined to comment. It […]

Why AfCFTA’s Success Depends on Including Informal, Women-Run Enterprises

There is renewed optimism that Africa’s small and medium sized businesses (SMEs) could be big winners with the launch of the African Continental Free Trade Area (AfCFTA) — the world’s largest such trading zone with a combined current GDP of US$2.5 trillion and a market of over one billion people. Given the challenges that have […]

Turkish army pension fund to buy British Steel

The Turkish Armed Forces Assistance Fund (known as Oyak) says it plans to take over British Steel, which employs 5,000 people, by the end of the year. British Steel owns the Scunthorpe steel works where 3,000 people work and it employs another 800 on Teesside. But the firm was put into compulsory liquidation in May […]

OPS sings discordant tune over forex ban on food imports

There seems to be some measure of discordant tunes amongst Members of the Organised Private Sector (OPS) over the recent presidential order on the Central Bank of Nigeria (CBN) to restrict foreign exchange (Forex) for importation of food items into the country. CBN While listing the adverse implication of the order they have, however, called […]

FG mulls recapitalisation strategy for power companies

Following the debate of either to recapitalise or repossess the electricity companies unbundled from the defunct Power Holding Company of Nigeria (PHCN), Vice President Yemi Osinbajo has disclosed of a new strategy to recapitalise them through a new electrification road-map. According to him, despite the generating companies producing about 8,000 megawatts (MW), and transmission capacity […]

CBN captured politically, says bank’s ex-deputy gov

A former Deputy Governor of the Central Bank of Nigeria, Dr Obadiah Mailafia, has criticised the directive by President Muhammadu Buhari, to the CBN to stop allocation of foreign exchange for food importation. He faulted the claims that the nation was self-sufficient in food. Mailafia noted that the policy was not well thought out, stressing […]

Stock markets fall after China trade warning

Markets in Europe fell on Thursday after a warning from China that it would take fresh countermeasures against US tariffs. The sell-off follows a turbulent day on US and Asian stock exchanges, fuelled by investor fear of a global recession. The FTSE 250, seen as a good gauge of the UK economy, fell 0.9% after […]

U.S. govt pledges commitment to partnership with Lagos

Lagos State Governor, Mr. Babajide Sanwo-Olu, on Wednesday, received in audience Ms. Claire Pierangelo, the new Consul-General of the United States (U.S.) Consulate in Lagos, with both pledging to collaborate on areas of mutual interest. The objective of the courtesy visit, the U.S. diplomat said, was to strengthen the Consulate’s working relationship with the State […]

Ogun Customs arrests notorious smuggler, secures conviction of 3 vandals

THE Ogun Area Command of the Nigeria Customs Service, NCS, has said it successfully got one Mr Victor Hassan, popularly known as Victor Owode, detained in prison custody over an alleged case of smuggling. It also said it has secured the conviction of three suspected hoodlums accused of destroying three operational vehicles belonging to the […]

Maritime security: UK sends warship to Persian Gulf

The US has proposed establishing an international coalition to ensure maritime security in the Persian Gulf against the backdrop of spiralling US-Iran tensions and volatile incidents in the Gulf; the UK is signing up for the initiative. The UK dispatched the warship HMS Kent to the Persian Gulf on Monday as part of the US-led Maritime Security […]

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