International

Facebook Acquires WhatsApp for $19 Billion

Facebook Inc., a popular social media networking service with about 1.2 billion users, has acquired WhatsApp, another social media service that thrives primarily on mobile phones. The recent acquisition is estimated to be worth around $19 billion. Facebook had earlier

Venture Capitalists Plan to Boost Investment in Nigeria

African Private Equity and Venture Capitalists Association (AVCA) has expressed its preparedness to promote investment opportunities in Nigeria. Mrs. Michelle Kathryn Essome, Chief Executive Officer of AVCA, while announcing the association’s forthcoming annual conference from March 31st to April 2nd,

First Bank, GTBank and Zenith Named Among World’s Most Valuable 500 Banks

Three Nigerian commercial banks – First Bank Plc, Guaranty Trust Bank Plc, and Zenith Bank Plc – have been named among the World’s 500 Most Valuable Bank Brands in 2014 global rankings. The listing was done by Brand Finance Plc’s

Disappointing Jobs Data Puts US Recovery Under Pressure

The market is still reeling from Friday’s Non-Farm Payrolls (NFP) data announcement where only 113,000 new jobs were created in January, much less than was forecast. The low number was partially attributed to the unseasonably cold weather of the past

Nigerian, Shola Olatoye, Appointed Head of New York City Housing Authority

A Nigerian has been announced the head of New York City Housing Authority (NYCHA). Bill de Blasio, the Mayor of New York, appointed Shola Olatoye as the new head of the Housing Authority as he plans to overhaul the housing

Bloomberg TV Africa Begins Airing Three New Shows this February – African Business Weekly, Football Dynamics and African Women to Watch

This February, Bloomberg TV Africa will begin broadcasting three new shows to its over 200 million viewers. The new shows are African Business Weekly, Football Dynamics and African Women To Watch. African Business Weekly, which is anchored by Eleni Giokos,

Unilorin Student Wins UNESCO Contest

A student of the University of Ilorin has won the grand prize at a contest organised by the United Nations, Educational, Scientific and Cultural Organisation (UNESCO). Mr John Usman, the second year Computer Science student of the university, won the

Nigeria Will Have More People than the United States by 2050

The most important demographic story over the next few decades could be Nigeria. From a new Pew Research Global Attitudes Project report about attitudes toward aging around the world: India, it is projected, will secure global demographic primacy by 2050.

Google sells Motorola to Lenovo for $2.91 billion

Google is selling Motorola Mobility to Lenovo for $2.91 billion, a deal that pundits believe will give the Chinese-owned Lenovo the key to establishing its presence in the US market. The trade acquisition includes cash and stock. Part of the

ECOWAS Approves N8 billion for Lagos-Abidjan Highway

The heads of states of the Economic Community of West African States (ECOWAS) on Thursday approved $50 million (N8 billion) as contributory fund towards the feasibility studies and design of the six lanes of Lagos-Abidjan highway project. According to the

Euronews to Launch Africanews, First Pan-African Multilingual News Channel

France-based news channel, Euronews, has berthed in Africa with the launch of Africanews, which will serve the African hub with news bordering around the continent. Euronews aims to bring to Africa its unique know-how as a multi-lingual and multi-cultural

Heirs Holdings Invests in Planet Labs Revolutionary Satellite Technology

Heirs Holdings, the pan-African investment company, has announced its investment in Planet Labs, a United States startup involved in satellite manufacturing technology. Planet Labs, based in San Francisco, California, is on the verge of transforming the way imaging of the

Emerging Market Turmoil Drives Volatility in the Global Currency Markets

The week has begun with a risk adverse market in the wake of last Friday’s turmoil which saw a basket of emerging market currencies engaged in a large sell-off over fears of capital outflows from emerging markets. The currencies involved

Femi Kuti Unfazed Despite Loss at 2014 Grammy Awards

Afrobeat maestro, Femi Kuti, who lost for the fourth time at the Grammy Awards, says he not bothered about coming up short at the Awards this year, stating that the nomination made his year. “Congrats to the winners, the nomination

Africa Key to Global Food Crisis – Akinwunmi Adesina, Nigeria’s Minister for Agriculture

Nigeria’s Minister of Agriculture, Akinwunmi Adesina, has stated that the solution to the global food problem lies in Africa. The minister made this pronouncement during a meeting at the World Economic Forum, Davos, Switzerland. Adesina, in a chat with Channels

Nissan Rolls Out Made in Nigeria Cars in April

Nissan Motors will roll out the first set of ‘Made in Nigeria’ vehicles in April 2014. This was revealed in the outcome of a meeting President Goodluck Jonathan held with Carlos Ghosn, Chief Executive Officer of Nissan Motors during the

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