French luxury giant LVMH half-year net profit drops 14%
AFP The world’s largest luxury group, LVMH, said Tuesday its half-year net profit slid 14 percent amid an uncertain geopolitical and economic environment. The drop in profit to 7.26 billion…
IMF says Zambia’s de-dollarisation plan may be counterproductive
Bloomberg Zambia’s proposed ban on charging foreign currency in local transactions — punishable with 10-year jail terms — might defeat its own purpose, according to the International Monetary Fund. The…
IMF downgrades Nigeria’s economic growth forecast for 2024 to 3.1%
Agency Report The International Monetary Fund (IMF) has reduced its forecast for Nigeria’s economic growth to 3.1 percent in 2024 — down from a 3.3 percent projected in April. The…
Nigeria’s NNPC stake in Dangote refinery reduced over non-payment, CEO tells paper as the national oil company rebuts Africa’s richest man’s claims
Morakinyo Akinosun LAGOS – Nigerian state-owned oil firm NNPC shareholding in Dangote refinery has been whittled down to 7.2% from 20% after failing to pay the balance of funding owed,…
Tesla’s UK lawsuit for 5G patents licence thrown out by UK court
Reuters LONDON – U.S. technology firm InterDigital and a patent licensing platform on Monday won their bid to throw out a London lawsuit by Tesla (TSLA.O), which was seeking a…
Nigeria’s Dangote oil refinery adds Brazilian crude to its diet
Bloomberg Nigeria’s giant new refinery in Lagos is to import a cargo of Brazilian crude, adding to the large number of overseas barrels that Africa’s biggest oil-producing nation is taking.…
Samsung showcases AI despite strike woes
Agence France Presse Despite an unprecedented strike at home in South Korea, Samsung Wednesday showcased the deployment of artificial intelligence (AI) across a range of its consumer electronic products as…