There have been series of reports and allegations that Alpha Beta was secretly owned by a former Governor of Lagos State, Asiwaju Bola Ahmed Tinubu, he has neither commented on the allegations officially.
GLOBAL
Equinor acquires 9.7% stake in Scatec Solar
Norway’s Equinor ASA has acquired 11,020,000 shares in Scatec Solar ASA. The stake acquired corresponds to 9.7 per cent of the shares and votes, at a total purchase price of approximately NOK 700 million (USD 82.4 million1). “The investment in Scatec Solar will increase Equinor’s exposure to a fast growing […]
Emaar reports 20% growth in nine month profit
The Middleast largest real estate company, Emaar Properties PJSC said it recorded a revenue of $4.735 billion in the first nine months of 2018. The number is 30 per cent higher than the revenue of $3.635 billion during the same period in 2017, led by the robust growth achieved by […]
Warren Buffet sold off stocks in Walmart
Berkshire Hathaway Chairman, Warren Buffet, said he has sold off all his shares in US retail giant, Walmart. Buffet’s stake in Walmart was estimated to be about $5 billion. However, Buffett has long highlighted the vulnerability of iconic retailers, citing Sears, F.W. Woolworth and Montgomery Ward as merchants that lost […]
TECH
Uber records more losses for the third quarter
The world’s largest digital taxi company, Uber Technologies Inc., has recorded more losses for the third quarter of the year. Uber said its net loss for the third quarter of the year rose by 20% year on year to $1.1 billion. The result shows that the taxi company is still […]
SoftBank raises alert on fraudster targeting its IPO
Japan’s SoftBank Group has raised alerts on fraudsters targeting its initial public offering to defraud unsuspecting members of the public. It would be recalled that SoftBank Group Corp will be launching its initial public offering where it plans to raise up to $21 billion from the public for its mobile […]
Bain Capital raises $1 billion to target startups
Boston-based Bain Capital said it has raised $1 billion to invest in technology startups. The company told Reuters News that $650 million would go into a fund used mostly for early-stage investments, backing young startups with unproven business models, the firm’s sweet spot. “We’ve invested from PowerPoint slides,” said Enrique […]
STARTUPS
Airtame has now shipped 100,000 devices
Airtame, a Danish startup that produces a wireless HDMI solution for both business and education sectors, announced that they hit a big milestone: 100,000 devices shipped. Airtame recently released Homescreen Apps, simple app integrations for smarter team collaboration and everyday inspiration. This product update signals a step into the world […]
No lessons learnt? Konga goes back to pay on delivery
Nigeria’s Konga, an eCommerce company that was acquired by Zinox said it is restarting its pay on the delivery policy. By its literal meaning, customers can order goods on the website and pay when the products are delivered. Konga made it known recently while adding that it will also activate […]
Japan-based Nigerian developer, Simple Azenabor, to launch SoftTalk Messenger
A Nigerian citizen based in Japan, Simple Azenabor, said he will be launching SoftTalk Messenger, a messaging app that will compete with the likes of WhatsApp. According to a report from Pulse.ng, SoftTalk Messenger will enable users to chat, make audio and video calls, unrestricted numbers of group chats as […]
Rocket Internet buys back EUR289 million debt
The management board of Rocket Internet SE the approval of the supervisory board, to invite holders of the convertible bonds due 22 July 2022. The bonds were issued issued by Rocket Internet SE on 22 July 2015, ISIN DE000A161KH4 with an outstanding aggregate nominal amount of approximately EUR 289 million […]
Other News
PonkiHosting brings affordable hosting for startups
Hosting and setting up your website should not cost you an arm and a leg, what PonkiHosting guarantees you is affordable rates, quality service and everything you want from you web administrator. 99.9% Uptime Guarantee: You get 99.9% Server uptime assured on all our hosting plans and VPS. You have no […]
BlackBerry acquires Cylance
BlackBerry Limited today announced it has entered into a definitive agreement to wholly acquire Cylance. Cylance is an artificial intelligence and cybersecurity company. BlackBerry said in the statement that it is buying the company for US$1.4 billion in cash, plus the assumption of unvested employee incentive awards. Pending regulatory approvals […]
Total, Exxon sign Papua New Guinea LNG project
French oil giant, Total, ExxonMobil and Oil Search have signed a Memorandum of Understanding with the Independent State of Papua New Guinea defining the key terms of the Gas Agreement for the Papua LNG Project. The MoU was signed during the Asia Pacific Economic Conference (APEC) in Port Moresby, in […]
Olufunke Ighodaro leaves Transaction Capital
JSE-listed Transaction Capital Limited said Ms Olufunke Ighodaro has resigned as a non-executive director of the company. The company also said Olufunke Ighodaro also vacated the position as chairman of the audit, risk and compliance committee (ARC) and member of the asset and liability committee with effect from 30 November […]
Nomura invests undisclosed amounts in Julius Baer subsidiary
Japan’s Nomura Holdings, Inc. today announced that it has completed the investment in Julius Baer Wealth Management Ltd. (JBWM), a wholly owned subsidiary of Julius Baer Group Ltd., which was announced on September 27, 2018. Effective today, JBWM’s name has been changed to Julius Baer Nomura Wealth Management Ltd. Nomura […]
Seplat gets 20-year license renewal for three OMLs
Seplat Petroleum Development Company Plc has announced today that the President and Honourable Minister of Petroleum Resources has given consent for the renewal of OMLs 4, 38 and 41. The company said the licenses have been set to a new expiry date of 21 October 2038. Seplat holds a 45% […]
Equinor acquires 9.7% stake in Scatec Solar
Norway’s Equinor ASA has acquired 11,020,000 shares in Scatec Solar ASA. The stake acquired corresponds to 9.7 per cent of the shares and votes, at a total purchase price of approximately NOK 700 million (USD 82.4 million1). “The investment in Scatec Solar will increase Equinor’s exposure to a fast growing […]
Emaar reports 20% growth in nine month profit
The Middleast largest real estate company, Emaar Properties PJSC said it recorded a revenue of $4.735 billion in the first nine months of 2018. The number is 30 per cent higher than the revenue of $3.635 billion during the same period in 2017, led by the robust growth achieved by […]
Warren Buffet sold off stocks in Walmart
Berkshire Hathaway Chairman, Warren Buffet, said he has sold off all his shares in US retail giant, Walmart. Buffet’s stake in Walmart was estimated to be about $5 billion. However, Buffett has long highlighted the vulnerability of iconic retailers, citing Sears, F.W. Woolworth and Montgomery Ward as merchants that lost […]
Uber records more losses for the third quarter
The world’s largest digital taxi company, Uber Technologies Inc., has recorded more losses for the third quarter of the year. Uber said its net loss for the third quarter of the year rose by 20% year on year to $1.1 billion. The result shows that the taxi company is still […]
GE hands over Nigeria’s $2 billion rail project to Transnet
General Electric Co. said it has handed over its $2 billion rail concession project in Nigeria to South Africa’s Transnet SOC Ltd. The decision of the Boston, Massachusetts-based company was hinged on its decision to exit the transportation business. It would be recalled that GE made the commitment for the […]