Major Asian Equities in Red on Disappointing China’s Inflation Data

By Dipo Olowookere No fewer than 15 Nigerian Small and Medium-sized Businesses (SMBs) will share the N75 million set aside by a tech giant, Google, in the 2023 edition of Hustle Academy Fund. The initiative was introduced in 2022 to provide equity-free funds to small business owners to scale up their operations and support entrepreneurial growth in Nigeria. Entries for the exercise opened on Thursday, September 28 and will close on Thursday, October 12, 2023, and to be eligible, businesses must be Nigerian-founded, operating within Nigeria for 1-5 years, and have a clear and scalable business plan. They should have

In 2023, there are over 500 binary options brokers worldwide, each with its unique offerings and trading platforms. Many people, especially beginners, wonder how to choose the best one. Traders Union (TU) experts have conducted a thorough analysis to help traders make the right choice, excluding unreliable brokers. The result is the Top 5 Best Binary Brokers for 2023, all licensed, offering a wide range of trading options, and ensuring favorable conditions for traders. This list aims to save time and protect traders from potential scams. Top binary options platforms Traders Union analysts regularly update the binary options trading platform

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Investors and Exporters (I&E), the Peer-to-Peer (P2P), and the black market arms of the foreign exchange (forex) market on Friday, September 29, as a turbulent third quarter ended. In the official segment, the local currency improved its value against the greenback by 2.6 per cent or N20.04 to close at N755.27/$1, in contrast to the preceding day’s N775.31/$1 amid a drop in the supply of FX into the system by 11.6 per cent or $16.73 million to $127.82 million from the $144.55 million published on Thursday. In the

By Bliss Okperan A lady who reviewed a product of Erisco Foods Limited, Nagiko Tomato Mix, Mrs Chioma Egodi, has threatened to demand the sum of N500 million from the chief executive of the company, Mr Eric Umeofia, for violating her fundamental human rights. Mrs Egodi said she purchased the product at the market with the intention of using it to cook stew for her family. However, when she tasted it, according to her, it tasted too much sugar, prompting her to post about it on Facebook. It was reported that Erisco was not happy with the negative review. She

By Ashemiriogwa Emmanuel The Nigerian Communication Commission (NCC) has said that soon, people without National Identity Number (NIN) will be denied necessary services that play vital roles in their lives, including the acquisition of a driver’s licence and international passport. The agency urged telecommunication consumers to obtained the NIN and integrate it with their subscriber identity modules (SIMs) before the expiration of the deadline on October 31, 2021, in order to prevent service disruption. The Director of Public Affairs, NCC, Mr Ikechukwu Adinde, disclosed this while speaking at the commission’s Digital Signature radio programme, which transmitted the second episode of

By Kester Kenn Klomegah Undoubtedly, a number of Russian companies have largely underperformed in Africa, experts described was primarily due to multiple reasons. Most often, Russian investors strike important investment niches that still require long-term strategies and adequate country study. Grappling with reality, there are many investment challenges including official bureaucracy in Africa. In order to ensure business safety and consequently realize the target goals, it is necessary to attain some level of understanding the priorities of the country, investment legislations, comply with terms of agreement and a careful study of policy changes, particularly when there is a sudden change

By The Nation Deposit Money Banks in the country have been directed by the Central Bank of Nigeria (CBN) to stop Short Message Service (SMS) charges on bulk bank transfers done through the Real Time Gross Settlement (RTGS). According to The Nation, banks were previously charging N4 per transaction or text message fee on all bulk transfers, but were directed by the apex bank to halt such fees in the interest of customers. The RTGS is an interbank funds transfer system on “real time” basis and “gross”. Settlement in the “real time” means that the transaction takes place almost immediately.

By Dipo Olowookere The management of Emerging Markets Telecommunication Services Ltd. (EMTS), trading as Etisalat Nigeria, has disclosed that it was holding discussions with Etisalat group on the use of Etisalat brand in Nigeria. Earlier on Monday, news went viral that Etisalat Group had totally pulled out of Etisalat Nigeria, ordering an end to the use of its brand name in the country within three weeks. But in a statement signed on Monday night by Mr Ibrahim Dikko, the Vice President, Regulatory and Corporate Affairs, at Etisalat Nigeria,  and made available to Business Post, it was pointed out that discussions were

By Modupe Gbadeyanka A popular messaging platform, WhatsApp, has fortified its mobile application with three new security features to protect the personal messages of its users. In a statement made available to Business Post on Friday by Meta, its parent company, WhatsApp said the updates were made because it believes that “your messages should be as private and secure as an in-person conversation” as an “end-to-end encryption is the foundation of that security, and we’ll never stop building new features to give you extra layers of privacy, and more control over your messages.” It was disclosed that the new features

By Dipo Olowookere Some Nigerians have continued to react to the endorsement President Muhammadu Buhari for the 2019 presidential election by the Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN). On Thursday, the group chose Mr Buhari, candidate of the All Progressives Congress (APC) over candidate of the Peoples Democratic Party (PDP), Mr Atiku Abubakar. National President of MACBAN, Mr Muhammadu Kirowa, who announced the endorsement of Mr Buhari, promised to mobilise about 20 million votes for the President in the February 2019 presidential poll. Miyetti Allah is a group that has been accused of fuelling the farmers/herdsmen clashes in

By Modupe Gbadeyanka Investors in the capital market in Nigeria lost about N782 million this week as a turnover of 678.710 million shares worth N6.875 billion in 11,808 deals were traded on the floor of the Nigerian Stock Exchange (NSE). This was in contrast to a total of 674.721 million shares valued at N7.657 billion that exchanged hands last week in 12,290 deals. During the week, the Financial Services Industry as measured by volume led the activity chart with 529.258 million shares sold at N2.774 billion in 6,290 deals; thus contributing 77.98% and 40.35% to the total equity turnover volume

By Modupe Gbadeyanka In 2020, the 11 electricity distribution (DisCos) operating in Nigeria recorded aggregate technical, commercial and collection (ATC&C) losses of 51 per cent, higher than 45 per cent in 2019. The rise in ATC&C losses was largely due to the impact of the COVID-19 pandemic, a report by a local rating agency, Agusto & Co, stated, adding that this high loss level remains one of the many reasons for the kickback from electricity consumers on tariff increases, especially in the absence of a significant and immediate improvement in power supply. The firm said last year, the energy companies