Economy
AlikeAudience Recognised at the Marketech APAC 2024 Marketing Technology Awards
Omnichannel data audience company wins for Best Customer Data Platform, Best AI Marketing Solution, and Best Mobile Marketing Solution
SUNNYVALE, USA & HONG KONG SAR – Media OutReach Newswire – 3 December 2024 – AlikeAudience, a company directly integrated with major demand side platforms and data marketplaces worldwide that provides premium omnichannel audience data to brands, has announced its victory in three categories at this year’s Marketech APAC Marketing Technology Awards.
The gala awards night, held in Singapore on November 28, awarded AlikeAudience for Best Customer Data Platform, Best AI Marketing Solution, and Best Mobile Marketing Solution.
“The AlikeAudience team is proud to be recognized by the Marketech APAC team, and the top panel of industry judges,” said AlikeAudience Managing Director Jeremy Lo. “We believe the AdTech industry, particularly in the key area of data utilization, will increasingly rely on AI-powered, privacy-compliant solutions. AlikeAudience is at the forefront of this advancement, providing platform and tech-agnostic solutions to meet industry needs.”
AlikeAudience offers bespoke demographic, interest, and app data, and has more than seven thousand audience segments in the US and APAC across the key sectors of FMCG, automotive, e-commerce, entertainment, travel, and hospitality.
The company assembles its audience data from a combination of location signals, app data, and demographic data and connects these data points with insights from market research to generate methodologies to deliver targetable segments for media activation.
Lo also said marketers in Asia must adapt their strategies for first, second, and third party data to effectively navigate diverse market dynamics and regulations.
“An innovative approach is essential to take advantage of technological advances,” Lo said. “With strong US coverage, AlikeAudience can apply global insights while localizing strategies to meet APAC advertisers’ data needs, helping future-proof their business.”
AlikeAudience was founded in Sunnyvale, California, in 2015, and operates in the US, Asia, and Australia.
Hashtag: #AlikeAudience
The issuer is solely responsible for the content of this announcement.
About AlikeAudience
AlikeAudience is a data science company focused on omnichannel data activation. We enable advertisers to seamlessly connect with their target audiences through AI-powered, future-proof data solutions. See more at www.alikeaudience.com
Economy
Oil Prices Jump on Syrian Development, Chinese Monetary Policy Move
By Adedapo Adesanya
Oil prices climbed more than 1 per cent on Monday due to fresh geopolitical risk after the fall of Syrian President Bashar al-Assad over the weekend, while China moved towards a different monetary policy stance.
During the session, Brent crude futures appreciated by $1.02 or 1.4 per cent to finish at $72.14 per barrel and the US West Texas Intermediate (WTI) crude futures went up by $1.17 or 1.7 per cent to quote at $68.37 per barrel.
The rebel-led Salvation Government rebels seized the Syrian capital of Damascus and President Assad fled to Russia over the weekend ending a 50-year rule of the Assad family in the Middle East country.
The Prime Minister of the country, Mr Mohammed Jalali, agreed to hand power to the main rebel commander, Mr Ahmed al-Sharaa, better known as Abu Mohammed al-Golani, who met overnight with Mr Jalali and Vice President Faisal Mekdad to discuss a transitional government.
Market analysts noted that this could impact the crude market and increase the geopolitical risk premium on oil prices in the weeks and months to come amid yet more instability in the Middle East region.
The imminent transfer of power follows 13 years of civil war and the end to more than 50 years of brutal rule by the Assad family, leaving Syrians at home and millions of refugees abroad hopeful yet deeply uncertain about their country’s future.
Although Syria is not a major oil producer, it holds geopolitical clout due to its location and ties with top oil producers- Russia and Iran.
Reuters reported that a tanker carrying Iranian oil to Syria turned around in the Red Sea.
Meanwhile, China will adopt an “appropriately loose” monetary policy next year, the first easing of its stance in 14 years.
China’s economy has struggled this year which has affected oil demand.
This development has prompted policymakers to act with the central bank unveiling its most aggressive monetary easing since the pandemic in September.
The world’s largest oil producer also cut interest rates and injected 1 trillion Yuan ($140 billion) into the financial system, among other steps.
The country is also preparing for the return of US President-elect Donald Trump to the White House in January, after threatening tariffs of 60 per cent or more on Chinese imports.
Traders also remained focused on US inflation data expected later this week that could make a case for a December interest-rate cut by the Federal Reserve next week.
Lower interest rates decrease the cost of borrowing, which can boost economic activity and spur oil demand.
Economy
NGX Starts Week With 0.11% Loss as Investors’ Wealth Leaks N62bn
By Dipo Olowookere
The first trading session of this week at the Nigerian Exchange (NGX) Limited ended on a bearish note on Monday with a 0.11 per cent loss.
Business Post reports weak investor sentiment resulted in sell-offs at the bourse yesterday, especially in the financial and industrial goods sectors.
According to data obtained from Customs Street, the insurance space closed lower by 1.22 per cent during the session as the industrial goods index fell by 0.53 per cent, and the banking counter weakened by 0.11 per cent.
However, the energy and the consumer goods counters witnessed bargain-hunting, resulting in their respective indices growing by 0.44 per cent and 0.02 per cent.
At the close of business, the All-Share Index (ASI) was down by 103.23 points to 98,107.52 points from 98,210.75 points, and the market capitalisation decreased by N62 billion to N59.472 trillion from N59.534 trillion.
On Monday, the market breadth index was negative after 19 stocks appreciated and 36 stocks depreciated, with the laggards’ chart led by Secure Electronic Technology due to a 10.00 per cent decline in its share price to 63 Kobo.
Guinea Insurance lost 8.93 per cent to trade at 51 Kobo, Deap Capital shed 8.40 per cent to N1.09, DAAR Communications fell by 7.02 per cent to 53 Kobo, and RT Briscoe declined by 6.12 per cent to N2.30.
On the flip side, Golden Guinea Breweries and the NGX Group appreciated by 10.00 per cent each to sell for N5.94 and N27.50 apiece, Tantalizers grew by 9.92 per cent to settle at N1.33, Africa Prudential soared by 9.72 per cent to N11.85, and Coronation Insurance increased by 9.35 per cent to N1.17.
During the session the trading volume and value went down by 58.11 per cent and 26.29 per cent, respectively, while the number of deals jumped by 31.43 per cent.
This was because the bourse recorded a turnover of 436.0 million shares worth N12.9 billion in 9,489 deals yesterday compared with the 1.0 billion shares valued at N17.5 billion traded in 7,220 deals last Friday.
FCMB led the activity chart after the sale of 61.7 million equities for N575.2 million, Access Holdings exchanged 51.1 million shares valued at N1.2 billion, UBA traded 27.2 million stocks worth N914.5 million, GTCO transacted 24.5 million shares valued at N1.3 billion, and Fidelity Bank sold 24.1 million equities worth N377.7 million.
Economy
Chappal Finally Completes Take Over of Equinor Assets in Nigeria
By Adedapo Adesanya
Chappal Energies has successfully completed the acquisition of Equinor Nigeria Energy Company (ENEC), a subsidiary of Norway’s Equinor ASA, following the announcement of the transaction in 2023.
The total value of the deal is estimated at up to $1.2 billion, with $710 million as the purchase price and the remainder made up of contingent payments.
Business Post reports that Equinor Nigeria confirmed the sale of ENEC, which holds a 54 per cent stake in the OML 128 oil and gas lease, to Chappal Energies in November 2023.
Now, the Mauritius-registered Chappal Energies has finally completed the acquisition of Equinor Nigeria Energy Company (ENEC).
The deal was completed on December 6, 2024.
Equinor Nigeria stated “As part of the transaction, all of Equinor’s assets in Nigeria have been transferred to Chappal Energies. Local employees will remain with the newly transferred company under its new ownership, marking a complete exit of Equinor from Nigeria.’’
The acquisition grants Chappal Energies control over Equinor, which holds a 53.85 per cent stake in the OML 128 oil and gas lease.
This includes a 20.2 per cent interest in the Chevron-operated Agbami oil field and the operatorship of OML 129.
Despite facing several months of delay, Nigerian regulators officially approved the transaction in November 2024. The deal, executed through Project Odinmim a special-purpose vehicle owned by Chappal Energies—was finalized in early December.
Under the terms of the agreement, Equinor retains no significant liabilities, except for certain contractual obligations to Chappal Energies as outlined in the transaction documents.
Equinor’s presence in Nigeria dates back to 1992, and over the last 30 years, the company has played a pivotal role in the development of the Agbami field, which is Nigeria’s largest deep-water oil field.
Since commencing production in 2008, the Agbami field has yielded over one billion barrels of oil, generating substantial profits for its partners and contributing significantly to Nigeria’s economy.
However, in January 2023, Equinor signalled its intention to divest its stake in the Agbami oilfield. At the time, the company had invested over $3.5 billion for its 20.21 per cent share in the field.
Despite its early successes, with 10 wells drilled and a 40 per cent discovery rate, production in Agbami has been declining in recent years, falling from 36,000 barrels of oil equivalent per day (boepd) in 2019 to 29,000 boepd in 2020.
Equinor’s decision to exit the Nigerian offshore sector is part of its broader strategy to focus on more profitable and strategically aligned assets.
The sale allows Equinor to optimise its international oil and gas portfolio, sharpening its focus on its core areas of operation.
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