Business
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Ahead of the January 31, 2024 deadline by the Central Bank of Nigeria (CBN) for existing users of fintech companies to upgrade their wallets, leading fintech company PalmPay has urged its users to upgrade their KYC details. https://www.palmpay.com/ Fintech users affected by the CBN directive are grouped into three categories. New users are mandatorily required to…
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An official from the administration of U.S. President Joe Biden said that this week, the U.S. Department of Labor will release a final rule that will make it more difficult for companies to treat workers as independent contractors instead of employees. First proposed in 2022 and likely to face legal challenges, the rule stipulates that…
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The Chinese government and its state-controlled entities spent over USD 5.5 million at properties owned by Donald Trump while he was in office, CNN reported quoting financial documents cited in a report from House Democrats released on Thursday. It reported that it was the largest total of payments made by any single foreign country known…
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Nigeria’s automotive industry is heavily dependent on importing new and used cars, including vehicle spare parts, due to its underdeveloped state. As an import-dependent sector, economic headwinds, including volatility of exchange rates of naira to dollar, exchange rate of cargo clearing at the port, and surging inflation, pose serious challenges and limit the growth of Nigeria’s…
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Analysts have said there is hope for households and businesses as the lingering pressure on the naira is projected to ease in the second quarter of 2024. Their projections are premised on the expected inflows from external borrowing, donor support and oil sales. “We expect donor support and external borrowing to boost FX reserves,” Razia…
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Yorkshire Building Society has become the latest lender to confirm it will cut mortgage rates, with full details to be announced next week. It comes after HSBC unveiled reductions to its range on Wednesday, including a five-year deal below 4%. First Direct, a division of HSBC, is also expected to announce mortgage rate cuts on Friday…
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If you have an Amazon Prime subscription, this is your one-month (just about) warning that you’ll be shown ads while watching TV shows and films unless you start paying an extra £2.99 a month. The change comes in from 5 February. It’s not clear when the ads will be played, and whether they will be…
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Amid rising interest rates and inflation, more American consumers are expected to use “buy now, pay later” payment plans heavily this holiday season. The short-term loans allow shoppers to make an initial payment at checkout, then pay the rest in installments, typically over a few weeks, even months. They also often incur zero interest but…
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A United States import ban on Apple smartwatch models took effect on Tuesday after President Joe Biden’s administration opted not to veto a ruling on patent infringements. In October, the United States International Trade Commission (ITC) banned Apple Watch models over a patented technology for detecting blood oxygen levels. However, Apple had appealed, arguing that…
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China’s Yangtze River Delta region is playing an increasingly important role in attracting foreign investment thanks to its economic development, solid industrial foundation and talent pool. Shanghai and the provinces of Jiangsu, Zhejiang and Anhui all fall under the ambit of the Yangtze River Delta region. Elodie Latour, vice president of Decathlon China, and her…
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Corporate Social Responsibility (CSR) The title corporate social responsibility has two meanings. First, it’s a general name for any theory of the corporation that emphasizes both the reponsibility to make money and the responsibility to interact ethically with the surrounding community. Second, corporate social responsibility is also a specific conception of that responsibility to profit while playing…
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US business insiders who attended a five-day travel industry event here have seen greater opportunities from China’s tourism market in the near future as the country is introducing more opening-up measures on traveling, including new visa policies. China is expected to be “a top travel destination by mid-2024,” and with its wider opening-up, people are…
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For a period of time this year, China’s export growth rate declined. This should be viewed rationally. It was related to the high base of last year. Data show that the excess inventory during the COVID-19 pandemic has been gradually digested, and the electronics cycle in the Western market has begun to bottom out. In…
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Controversial singer, Habeeb Okikiola Oyegbile, popularly known as Portable, has bragged about owning 30 mansions in different parts of Lagos and Ogun States. He said he is a low-key millionaire who doesn’t flaunt his wealth. The ‘Zazuu’ crooner also said he engages in a lot of philanthropic works because the more he gives to the poor,…
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As the federal government under President Bola Ahmed Tinubu brace up to achieve the December deadline to get its refineries working, data from the World Energy 2023 report showed that the country’s crude oil refining output dropped by 92 per cent in 10 years. The report showed that output from the nation’s four refineries fell…
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