Business

Amazon to open African headquarters in South Africa

Amazon, a United States multinational technology company, has chosen South Africa as the headquarters for its African market. This development comes a week after Twitter, US-based microblogging and social networking service announced the opening of its first-ever African office in Ghana. Similarly, the German government said a new German-West African Centre for Global Health and Pandemic Prevention will be located ...

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Buyer of Shoprite business in Nigeria revealed

A Nigerian property company, Persianas has been revealed as the buyer of Shoprite’s local business in Nigeria. Shoprite, with more than 2,300 stores across Africa, is awaiting regulatory approval on the sale of its Nigerian supermarket operation, though no further details have been disclosed. Banking sources told Reuters that Persianas Properties emerged as the buyer after a bidding process and ...

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Turkey bans use of cryptocurrencies citing risks

Bitcoin tumbled more than 4% on Friday after Turkey’s central bank banned the use of cryptocurrencies and crypto assets for purchases citing possible “irreparable” damage and transaction risks. In legislation published in the Official Gazette, the central bank said cryptocurrencies and other such digital assets based on distributed ledger technology could not be used, directly or indirectly, to pay for ...

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Burger King to open in Nigeria amid economic woes

  American fast food retail chain, Burger King, is expected to start its operations in Nigeria by the fourth quarter of 2021. Nairametrics reported an exclusive interview with Antoine Zammarieh, Burger King’s franchisee in Nigeria and Managing Director, Allied Food & Confectionery Services Limited. “Burger King will start operations by Autumn, i.e. between September and November 2021. We have set ...

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FUTO gets new female Vice Chancellor

The Governing Council of the Federal University of Technology, Owerri (FUTO) has elected Prof Nnenna Oti as the new Vice Chancellor of the institution. She succeeds the outgoing vice chancellor, Prof. Francis Eze. Prof. Oti was the deputy Vice Chancellor, Academic until her new appointment. She emerged top with 75.5 points to beat six other candidates. Her closest rival was ...

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Barcelona top Forbes’ most valuable football clubs list

Barcelona have leapfrogged Real Madrid and are now the world’s most valuable football club, according to the reputable US magazine Forbes.   This is the first time Barca are reaching the summit of the Forbes list having trailed bitter rivals Real Madrid for quite some time. Barca overtook Madrid in the latest ranking by $100,000. The Blaugrana is valued at ...

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Actress, Wumi Toriola, opens new shopping outlet

Nollywood actress, Wumi Toriola is broadening her scope as a businesswoman as she has opened a new shopping outlet. Taking to her Instagram page, she shared photos of her newly completed shopping outlets as she advised her fans never to underestimate the days of little beginnings. She cautioned her fans to be humble and work hard for what they want. ...

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Twitter considers charging users for special content, in revenue push

Twitter on Thursday, said  it plans to offer a subscription service in which users would pay for special content from high-profile accounts, part of an economic model to diversify its revenue. The globally popular social media platform announced the potential new Super Follows service at its annual investor meeting, as it searches for new revenue streams beyond targeted advertising. “Exploring ...

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Jay-Z sells stake in champagne brand to luxury giant LVMH

For American music mogul Jay-Z, who has boasted of having a “million ways to make money” it looks like it may now be “on to the next one”. French luxury giant LVMH has purchased a 50% stake in his Armand de Brignac champagne brand, known to fans of his music by its “Ace of Spades” nickname. Branded with an ace ...

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Jeff Bezos dethrones Elon Musk to become world richest man again

Jeff Bezos has reclaimed his title of world’s richest person, ending Elon Musk’s six-week reign atop the list. Musk lost about $4.5 billion Tuesday after Tesla’s (TSLA) shares fell 2.4 percent, which was enough to knock him to second place on the Bloomberg Billionaires Index ranking. Bezos’ net worth also fell as the broader stock market lost a bit of ...

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Rihanna’s Savage x Fenty lingerie brand is now worth $1bn

Rihanna can take a bow, pour it up and celebrate however she’d like since her Savage x Fenty lingerie brand is now worth $1 billion. Forbes reported that a round of Series B funding raised $115 million for the company’s upcoming expansion into retail, led by private equity firm L Catterton, in which LVMH Moët Hennessy Louis Vuitton has a ...

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Kiki Osinbajo to start her own mentorship program soon

Kiki Osinbajo has revealed she will start her own mentorship soon. This comes after a follower asked the entrepreneur if she has any mentorship program. She then replied thus; “BEEN THINKING ABOUT THIS RECENTLY. I WANT TO TRY AND PICK 2 PPL EVERY 6MONTHS… TAKE TIME OUT TO JUST MENTOR. I HAVE SO MANY MENTORS THAT HAVE REALLY HELPED ME”. ...

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LVMH and Rihanna agree to pause her fashion line, Fenty

Louis Vuitton owner LVMH and music star Rihanna have agreed to suspend her fashion line Fenty less than two years after its launch, the French luxury goods giant said on Wednesday. LVMH said in a statement that Fenty’s ready to wear activity, based in Paris, would be “put on hold” pending better conditions – a rare setback for the luxury ...

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Investing in cows better than cryptocurrency – Adamu Garba

Adamu Garba, a former presidential aspirant, has opined that investing in cows is better any form of cryptocurrency business. Garba was lending his voice to the latest instruction to Deposit Money Banks (DMBs), other Financial Institutions (OFIs) and Non-Bank Financial Institutions (NBFIs) against having any transactions in crypto or facilitating payments for crypto exchanges. Reacting on Twitter, Adamu said the ...

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Aliko Dangote losses $900million in just 24 hours

  Billionaire businessman, Aliko Dangote, reportedly lost a whooping $900million on Friday, January 8, after his company, Dangote Industries Limited, emerged the biggest loser at the end of trading on the Nigerian Stock Exchange. According to Bloomberg Billionaires Index, his wealth fell from $18.4billion on Thursday to $17.5billion on Friday, making him the 114th wealthiest man in the world, down ...

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Elon Musk Overtakes Bezos To Become World’s Richest Person

  Tesla Inc chief and billionaire entrepreneur Elon Musk surpassed Amazon.com Inc’s top boss Jeff Bezos to become the world’s richest man, Bloomberg News reported on Thursday. Including Thursday’s gains in Tesla shares, Musk, 49, had a net worth of more than $188.5 billion, $1.5 billion more than Bezos, the report said. (https://bloom.bg/3nnOz3U) Musk’s personal wealth has been boosted by ...

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China to leapfrog US as world’s biggest economy by 2028

China is due to overtake the US as the world’s biggest economy five years earlier than planned – despite the coronavirus pandemic starting there, experts gave revealed. The Centre for Economics and Business Research said Beijing was on track to race past America in 2028 as its growth rate outstrips rival nations. Publishing the World Economic League Table in its ...

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Elon Musk’s personal fortune rockets after eventful week

After an eventful week for tech entrepreneur Elon Musk, his personal fortune has shot up by more than $15bn.   On Monday, it was announced that his electric car company Tesla has been accepted into the S&P 500, a major US stock market index. This comes after his rocket company SpaceX sent four astronauts into space. On top of testing ...

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Mystery Chinese buyer pays £1.4m for racing pigeon

A racing pigeon has sold at auction for more than £1.4 million to a mystery Chinese buyer. The three-year-old hen called New Kim was sold by Belgian auctioneers Pigeon Paradise (PIPA) in an online auction for 1.6 million euros on Sunday. The sale beat the 1.25 million euros paid last year for male pigeon Armando, dubbed the Lewis Hamilton of the sport ...

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NNPC raises petrol depot price, marketers to sell at N168-N170/litre

The Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation, has increased the ex-depot price of Premium Motor Spirit, also known as petrol, to N155.17 per litre from N147.67 per litre.   The PPMC disclosed this in an internal memo with reference number PPMC/C/MK/003, dated November 11, 2020, and signed by Tijjani Ali. The memo, a copy ...

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Border Closure: Dangote reacts, says report of sole cement export misleading, mischievous

  The management of Dangote Group has described as misleading reports that the company was granted sole approval to export cement through the land borders. In a statement Tuesday, the company said it was not the only company enjoying such privilege to move goods through the land borders. TGB reported how facts emerged on Monday that despite the border closure policy put ...

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Yahoo Groups to shut down from December 15th

Facing a steady decline in usage over the last several years, Yahoo has made the decision to shut down Yahoo Groups from on December 15. Verizon, which bought Yahoo in 2017, announced the decision on Tuesday which marks the end of the road for one of the largest message board systems on the Web of its time.r that same period, ...

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