Potential Covid Vaccine Drives Soaring Oil Prices
Oil surged on Monday, putting it on track for its biggest daily gain in more than six months after Pfizer announced promising results for its COVID-19 vaccine, boosting risk assets
Rise in Exports Offers Germany Hope of Avoiding Fourth-quarter Slump
German exports rose by more than expected in September, and foreign trade gave Europe’s largest economy a boost going into the fourth quarter as it struggles to avoid slipping into
‘The World Will Still Need Oil When This Is Done’: Energy Leaders Leave Door Open to Cuts as Virus Spikes in Europe, US
Saudi Arabia’s energy minister said global energy producers have the ability to tweak an agreement on production cuts that could be extended through the end of 2022, signaling the anticipation
Gilat Telecom to Unlock Huge Network Availability, Bandwidth Capacity across Africa
Gilat Telecom a global multinational communications service provider with presence in Africa, Asia, and the Middle East, has announced significant new enhancements to its Software-Defined Wide Area Network (SD-WAN MAX).
Driven by Drop in M-Pesa Revenues, Safaricom PLC Profits Decline 6%
Kenya’s biggest telecoms operator, Safaricom, said half-year net profit fell six percent to 33.07 billion shillings (about 303.62 million dollars) with M-Pesa revenue dropping the most on account of free
Asian Shares Rise on Biden Win and Strong Chinese Trade Data
Asian shares and US futures rose Monday on relief the US presidential election results were finally decided, with Joe Biden announced president-elect. Hong Kong’s benchmark Hang Seng Index went up
Turkish President’s Son-in-law Resigns as Finance Minister
Turkey’s finance minister and son-in-law to President Recep Tayyip Erdogan announced his resignation on social media late Sunday. Berat Albayrak said on Instagram that he was stepping down from his
Nigeria Disburses $510m Export Grant to 270 Exporters
Nigeria’s Debt Management Office (DMO) has said that a total of N195 billion (about $510 million) has been disbursed to 270 exporters under the Export Expansion Grant (EEG) programme of
EgyptAir Deploys B787 Dreamliner to Lagos Route
EgyptAir passengers from Nigeria can now enjoy better deal with more comfort with the deployment of the Boeing 787 Dreamliner on the Cairo-Lagos route. EgyptAIr recently took delivery of its
Investors Celebrate Biden Winning US Presidency
Investors and financial executives took a big sigh of relief on Saturday after major networks declared Democrat Joe Biden winner of the US presidential election, offering some certainty after days
Volkswagen Truck Unit Traton Finalises US$3.7bn Navistar Acquisition
Volkswagen AG’s truck unit Traton SE has agreed to pay about US$3.7 billion for the outstanding shares of US truck maker Navistar International Corp in a deal announced on Saturday
Transcorp CEO Optimistic New Power Plant Deal Will Increase Access to Electricity in Nigeria
Transcorp Consortium has executed the biggest domestic financing deal of 105.3 Billion naira (272 Million dollars) in Nigeria’s power generation sector so far in 2020. This deal is in relation to
World’s Largest Retailer Walmart Sells Operations in Recession-hit Argentina, Incurs $1bn Loss
Walmart Inc, the world’s largest retailer, said on Friday it was selling its retail operations in Argentina to South American supermarket chain owner Grupo de Narváez, pulling back as the
Uber Sees Slowest Recovery of Ride Business in US Market
Uber Technologies Inc said on Thursday demand for its food-delivery service exploded in the latest quarter, but recovery in its global rides business is being held back by its most
US Federal Reserve Keeps Interest Rate Unchanged, Signals Readiness to Boost Economy
The US Federal Reserve kept its benchmark interest rate at a record low near zero and signalled its readiness to do more if needed to support an economy under threat
Qualcomm Displays 5G Technology at China international import Expo
Qualcomm, the US tech giant has displayed 5G technology products with its chips at the third annual China International Import Expo. Various 5G smartphones and electronic devices, from Samsung, Oppo,
GTBank Gets Nigeria’s Central Bank ‘Approval in Principle’ to Become Holding Company
Nigeria’s tier 1 lender, Guaranty Trust Bank (GTBank), says it has obtained an approval-in-principle from the Central Bank of Nigeria (CBN) to commence a formal process of restructuring to a
Suzuki Expects Operating Profit to Fall Amid Pandemic
Japan’s fourth largest automaker Suzuki Motors, has forecast operating profit to fall by a quarter to $1.5 billion in the year to March as sales, in its key Indian market,
Labour Urges UK Trade Secretary to End Delays over Kenya and Ghana Deals
The Labour party has urged the UK trade secretary, Liz Truss, to end delays over rollover deals with Kenya and Ghana to prevent them being slapped with high tariffs when
Asian Stocks Inch Higher as Investors Await US Election Results
Asian stocks were mostly higher on Thursday as investors continued to wait for the result of the United States presidential election. The Japanese benchmark Nikkei 225 closed up by 1.7%,
