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Australia warns Google and Apple over app stores

IMAGE COPYRIGHTGETTY IMAGES   The Australian Competition and Consumer Commission (ACCC) said measures are needed to address Apple and Google's app store dominance. "Apple and Google don't only run the app marketplaces, they also compete within them with their own apps," said the chairman Rod Sims. The ACCC on Wednesday suggested giving users and developers more control over purchases. It's the latest move by Australia to rein in big tech's […]

todayApril 28, 2021 5

Business

Google owner sees record profits as lockdown boom continues

IMAGE COPYRIGHTGETTY IMAGES   Google owner Alphabet saw its earnings soar in the first quarter as people stuck at home in the pandemic used more of its services. Net profit jumped by 162% to a record $17.9bn in the three months to March as advertising revenue swelled by a third. It comes as the tech giant faces increased scrutiny over its power and the pandemic has people turning to the […]

todayApril 28, 2021 8

Business

Crypto Exchange Founder Disappears with $2 Billion

(Image credit: Shutterstock) The founder of a popular crypto exchange in Turkey has disappeared, with media reports indicating that he has fled the country with $2 billion as roughly 300,000 frustrated users have suddenly lost access to their accounts. In Turkey, the national currency lira has been in a secular decline for nine consecutive years, urging people to take some risks in a bid to protect their savings and maybe […]

todayApril 27, 2021 26

Business

EFCC cautions Nigerians against Bitcoin, forex trading, others

  The Economic and Financial Crimes Commission (EFCC) has warned Nigerians against what it described as any investment that promises returns that looks too good to be true. “Though risk-taking is considered by some as the oxygen that drives investment decisions, the commission warns the public against taking unmitigated risk in desperation to earn a windfall. “Investment in Bitcoin, for instance, is a high risk activity as the terrain is […]

todayApril 27, 2021 14

Business

Mobile phone users turn to black market for SIM cards

  The ban on the sale and registration of new Subscriber Identity Module (SIM) cards has created a huge black market for the sale of pre-registered SIM cards with prices ranging as high as N15,000 for a card. On December 9th last year, the Federal Government, through the Minister of Communications and Digital Economy, Dr Ibrahim Pantami ordered a ban on the sale and registration of new SIM cards. Government […]

todayApril 26, 2021 8

Business

Apple stakes $1b for Nigerian app

An application developed by a young Nigerian has been bought by Apple for $1 billion, the Minister of Communications and Digital Economy, Dr Isa Pantami said yesterday. Pantami, who did not give details of the deal, however, expressed optimism that the sky is the limit for indigenous young innovators and urged them to remain steadfast in their resolve to take advantage of opportunities in the digital economy sector. According to […]

todayApril 22, 2021 11

Business

Arik Air resumes direct flights from Lagos to Kano

The Management of Arik Air has announced that it is resuming direct flights from the nation’s commercial capital, Lagos to the ancient city of Kano effective from April 27, 2021. Capt. Roy Ilegbodu, Chief Executive Officer of Arik Air, said in a statement in Lagos on Sunday that the three weekly flights would operate on Tuesdays, Thursdays and Saturdays. Ilegbodu said the decision to reintroduce direct flights between Lagos and […]

todayApril 19, 2021 3

Business

BREAKING: Obaseki lambasts finance minister, insists FG printed N60bn

Edo Governor Godwin Obaseki has faulted the Minister of Finance, Budget, and National Planning, Zainab Ahmed, for denying that the Federal Government printed N60 billion in March to support allocation to states. The governor, who accused the Federal Government of “monetary rascality’, also tackled the finance minister for “playing the Ostrich”. Obaseki said this in a series of tweets to react to the denial by Zainab that his claim on […]

todayApril 15, 2021 1

Business

Saudi female elected first president of Digital Cooperation Organization

KSA’s Deema Alyahya is the first secretary-general of DCO. (SPA) RIYADH: Saudi Arabia was elected president of the Digital Cooperation Organization (DCO) and Saudi national Deemah Alyahya was appointed the first secretary-general of the organization during its first meeting on Monday. The organization also approved the accession of Nigeria and Oman to the organization as founding members. The first five members of DCO included Saudi Arabia, Bahrain, Jordan, Kuwait and […]

todayApril 13, 2021 4

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