Nigeria wins $11bn P&ID case
Justice Robin Knowles of the Commercial Courts of England and Wales has ruled in favour of Nigeria in the enforcement of a $11bn Process & Industrial Developments (P&ID) Limited arbitration…
Business
X social media to test $1 annual subscription for basic features
Social media platform X, formerly known as Twitter, said on Tuesday it will test a new subscription model under which it will charge a $1 annual fee for basic features.…
Netflix Cup to pair PGA, F1 stars in live golf event
Netflix is putting Formula 1 drivers on the golf course for the company’s first-ever foray into streaming a live sports event. Announced Tuesday, “The Netflix Cup” will bring together golfers…
Oil prices ease as investors assess risks of Israel-Hamas war
Oil prices slipped on Monday after surging last week, with investors waiting to see if the Israel-Hamas conflict draws in other countries – a development that would potentially drive up…
Britain, South Korea agree to extend tariff-free trade for two years
Britain and South Korea have agreed to extend a period of low or zero tariffs on bilateral trade by two years, ahead of talks to forge a new trade deal,…
IMF agrees funding boost, extra board seat for Africa
The IMF announced Saturday member nations agreed to increase their contributions to the global lender and give sub-Saharan Africa a third seat on its executive board at its first meetings…
IMF downgrades Nigeria’s economic growth forecast for year 2023 to 2.9%
The International Monetary Fund (IMF) has revised its estimate of Nigeria’s economic growth for the year 2023 downward to 2.9 percent. This is against its forecast for 2022 which stood…
OpenAI unveils Dall-E 3, latest version of its text-to-image tool
OpenAI on Wednesday unveiled Dall-E 3, the latest version of its text-to-image tool that uses its wildly popular AI chatbot ChatGPT to help fill in prompts. Dall-E 3 will be…
Federation account accrued over N5tn in six months, says RMAFC
For the period from January to June 2023, N5,244,037,636,561.60, according to the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), has accrued into the Federation Account. The figure was captured in…
US accuses Google of paying $10b a year to dominate search
The US government on Tuesday accused Google of paying out $10 billion a year to Apple and other firms in order to safeguard its monopoly over online search. The accusation…