MTN Group announced on Wednesday it emerged the first mobile operator in the world to deploy and test the open optical packet transport platform, Voyager, in telecoms and technology. The telecom infra project (TIP) initiative, launched in February this year, is a global platform that brings together key operators in the telecoms and technology sector […]
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Facebook today Wednesday delivered another blockbuster earnings performance, showing solid growth in mobile ad revenues as the social network expands into new services. Profit leapt 166 percent to $2.4 billion on revenue that surged to $7 billion from $4.5 billion during the same period a year earlier, third quarter results showed. “We had another good quarter,” […]
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Nigeria’s largest airline Arik Air plans to nearly double its fleet to 52 planes within 10 years and has already ordered some of them from Boeing, a source at the company said on Monday. Most of the carrier’s existing fleet are Boeing planes and the source, who did not wish to be identified, said the […]
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A new increase of over 200 per cent in electricity tariff being paid by residential consumers if a proposal by power distribution companies to raise the average energy charge to N105 per kilowatt-hour from the current rate of 22.8KWH is approved. This is coming less than eight months after about 45 per cent increase in […]
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HP Inc. will cut about 3,000 to 4,000 jobs over three years to help bring costs in line with slumping demand in the market for computers and printers. According to Bloomberg, the company will eliminate positions across the board, Chief Executive Officer Dion Weisler said. The comments came Thursday during HP’s analyst meeting in New […]
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Dutch companies are not fair weather friends of the people of Nigeria as they will stay in the country despite the recession. Ms Tessel Kuijten, First Secretary for Economic Affairs of the Netherlands Embassy in Lagos told the News Agency of Nigeria in Lagos that the companies were still interested in doing business in Nigeria. The […]
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Financial solutions outfit, Paga, has hit 5 million users, claims its founder Tayo Oviosu. He could not suppress his joy as he reminisced on the journey of the company spanning over 7 years. Recalling the tough start, Oviosu said ‘First it took us 13 months to get our license — got it in November 2011. “Without a […]
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A newly-licensed regional bank, SunTrust Bank (STB) Limited, commenced operations on Wednesday with a pledge to give customers an edge through technology-driven services. The bank’s Chief Executive Officer (CEO), Mr. Muhammad Jibrin, said the bank was the first to be issued fresh licence by the Central Bank of Nigeria (CBN) since 2001, stating that STB […]
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The Central Bank of Nigeria (CBN) has advised customers and other stakeholders of Skye Bank to disregard any message suggesting a liquidation of the bank. According to the Acting Director, Communications, Mr Isaac Okorafor, malicious messages are making the rounds suggesting that the bank is distressed or has been liquidated by the CBN. “The CBN […]
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The Nigerian Communications Commission has released details of how the four major operators fared in the data market in the month of June. From the figures published on the commission’s website, Globacom finished top of the table with 26,628,065 Internet subscribers. This shows an addition of 272,674 new subscribers during the month as the company’s […]
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This came some months after the group was reacquired from Tiger Branded Consumers Goods Plc. The group posted a profit before tax of N2.64bn in the half-year ended June 30, 2016, compared to a loss of N9.55bn posted in the corresponding period of 2015. Dangote Flour Mills consist of Dangote Flour, Dangote Pasta, and Dangote […]
Read More Dangote Flour Mills said it recorded a profit before tax of N2.64 billion for the half year ended June 30, following its re-acquisition from Tiger Branded Consumer Goods. The company disclosed this in a statement, saying its profit before tax in the period was against a loss of N9.55 billion posted in the corresponding period […]
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