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Apple becomes world’s most valuable company

Apple Becomes World’s Most Valuable Company

August 1, 2020 5:57 am
American tech company, Apple has become the most valuable company in the world on Friday after posting blockbuster quarterly earnings that sent shares of the technology company up as much as 7%.

Shares of Apple reached $412 at Friday’s intraday high, putting the company’s market value at $1.762 trillion, dethroning the oil giant Saudi Aramco as the most valuable company in the world with market value, worth $1.759 trillion at Friday’s intraday high.

According to Bloomberg, it’s the first time the company’s valuation has surpassed that of Saudi Arabia’s Aramco. Before that, Apple had vied with Microsoft Corp. for the …

Sterling Bank Opens Up New Whatsapp Banking Initiative

Sterling Bank Opens Up New Whatsapp Banking Initiative

July 29, 2020 12:15 pm

Sterling Bank Plc, one of Nigeria’s leading commercial banks, today announced a personalised banking experience for existing customers and prospective account holders through the popular messaging app – WhatsApp.

Customers can now initiate bank transfers, and airtime and bill payments, check balance and BVN enquiries, as well as statement generation directly on WhatsApp with the aid of Kiki, a new personalised financial assistant.

The financial assistant also connects customers directly to customer service, making dispute resolution seamless.

The bank has launched the new experience in collaboration with Clickatell (www.Clickatell.com), a global leader in mobile communications and chat commerce.

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N70b Wiped Out Of Nigerian Stock Exchange

₦70b Wiped Out Of Nigerian Stock Exchange

July 28, 2020 5:24 pm

The Nigerian Stock Exchange returned to negative territory on Tuesday with the market capitalisation shedding ₦70 billion due to losses by some blue chips.

The market capitalisation was down 0.54 per cent to close at ₦12.858 trillion compared with ₦12. 928 trillion on Monday.

Also, the All-Share Index (ASI) dipped 133.45 points or 0.54 per cent to close at 24,650.16 against 24,783.61 recorded on Monday.

The downturn was impacted by losses recorded in large and medium capitalised stocks, amongst which are; Seplat, Total, MTN Nigeria Communications (MTNN), Julius Berger and Guaranty Trust Bank.

Read Also: Stocks Rebound Fizzles Out Os

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U.S. stock market in the middle of another tech bubble

U.S. Stock Market In The Middle Of Another Tech Bubble

July 25, 2020 1:23 pm

Elon Musk’s been in the headlines for the last few days. The brilliant founder of Tesla and SpaceX has just overtaken Warren Buffett in the ranking of the richest men on the planet. The incredible success of Tesla on the stock market for almost a year is not unrelated to this.

This phenomenon goes far beyond Elon Musk and Tesla.

All the founders of Tech companies are seeing their fortunes explode at the moment. Founder of Amazon, Jeff Bezos is now at the head of a fortune that exceeds 180 billion dollars.
On July 20, 2020, alone, Jeff Bezos saw …

Naira Weakens Marginally To Dollar

Naira Weakens Marginally To Dollar

July 25, 2020 5:10 am

The Naira on Friday weakened marginally against the dollar at both the parallel market in Lagos and the investor’s window.

The Nigerian currency traded at ₦472.5 to the dollar at the parallel market, down by 0.5 points from ₦472 exchanged on Thursday.

The Pound Sterling and the Euro closed at ₦582 and ₦530, respectively.

The Naira closed at ₦389.50 to the dollar at the investor’s window, down by 1.50 points from N388 it traded on Thursday.

Market turnover at the investor’s window stood at 12.61 million dollars.

It, however, …

Access Bank Completes Acqusition Of Kenyan Transnational Bank

Access Bank Completes Acqusition Of Kenyan Transnational Bank

July 20, 2020 3:06 pm

Sequel to its earlier announcement on October 28, 2019, the Board of Access Bank PLC is pleased to inform the investing public and the Nigerian Stock Exchange of the Bank’s successful completion of the acquisition of Transnational Bank (Kenya) Plc.

This follows the receipt of full regulatory approvals and fulfilment of all conditions precedent to completion.

The Bank’s vision is to be the World’s Most Respected African Bank and our entry into the Kenyan market, a key gateway in East Africa, not only brings us closer to that vision but entities our customers tap into our extensive global network that …

UK Bows To U.S. Pressure, Bans Huawei From 5G Network

UK Bows To U.S. Pressure, Bans Huawei From 5G Network

July 14, 2020 10:33 am
Bowing to U.S. pressure, UK Prime Minister Boris Johnson ordered Huawei equipment to be purged completely from his country’s 5G network by 2027.

Britain’s National Security Council (NSC), chaired by Johnson, decided on Tuesday to ban the purchase of 5G components from the end of this year and to order the removal of all existing Huawei gear from the 5G network by 2027.

Telecoms companies will also be told to stop using Huawei in fixed-line fibre broadband within the next two years.

Read Also: 5G Coronavirus Claims And Mast Fires Investigated

Digital, Culture, Media and Sport Secretary Oliver Dowden announced …

Chinese Billionaire, Jack Ma Reappears After Allegedly Missing

Alibaba’s Jack Ma Sells $8.2bn Worth Shares

July 13, 2020 8:13 am

Alibaba Group Holding Ltd co-founder Jack Ma has cut his stake in the company over the past year to 4.8 per cent from 6.2 per cent, cashing out around 8.2 billion dollars at its current share price.

The firm’s annual filing showed that Jack loses 40 percent of his shares.

This divestment comes as Jack retired as the Chinese e-commerce company’s executive chairman in September and pulled back from formal business roles to focus on philanthropy.

However, Alibaba did not disclose the average selling price of his divestment.

Read Also: Jack Ma Sends 2nd Batch Of Medical Supplies To Nigeria

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Meet Candidates For The World Trade Organisation DG Position

Meet Candidates For The World Trade Organisation DG Position

July 10, 2020 4:14 am

Nominations for the Office of Director-General of the World Trade Organisation (WTO) has officially closed. As at close of nomination on July 8 2020, eight nominees from different countries had indicated interests.
The outgoing DG, Azevedo, will be stepping down on August 31, 2020.

Nominees are expected to answer questions from the General Council (involving all its member states) and the Press between 15-17 July, 2020. Several rounds of consultations will follow until a consensus is announced. The DG’s role is expected to be primarily advisory, managerial and renewable after 4 years

Generally, the appointment of the World Trade Organisation …

Jeff Bezos Overtakes Bill Gates, Becomes Richest Person Alive

Jeff Bezos Overtakes Bill Gates, Becomes Richest Person Alive

July 8, 2020 12:38 pm

Jeff Bezos, CEO of Amazon, has broken his record to become the wealthiest person alive, according to the Bloomberg Billionaires Index.

Bezos now has a fortune of US$171.6 billion, surpassing his previous high of $167.7 billion.

His previous record was set in 2018, before his divorce from wife Mackenzie Bezos.

Read Also: Amazon Boss Bezos Launches $10bn To Combat Climate Change

The 56-year-old American internet entrepreneur has gained approximately $56.7 billion this year alone.

Much of Bezo’s wealth comes from Amazon, with the CEO owning roughly 57 million shares of the company.

Despite the global outbreak of COVID-19, Amazon has …

Fidelity Bank Appoints Mustapha Chike-Obi As New Board Chairman

Fidelity Bank Appoints Mustapha Chike-Obi As New Board Chairman

July 6, 2020 10:02 am

Fidelity Bank Plc has announced that two of its Board members: Mr. Ernest Ebi (MFR) who has been serving as Chairman, Board of Directors and Mr. Seni Adetu who has been serving as an Independent Non-Executive Director, having successfully completed their tenure in accordance with the Bank’s internal governance policy, will be stepping down from the Board.

Under the Chairmanship of Mr. Ernest Ebi, the Bank recorded significant growth across key financial metrics with both Messrs. Ebi and Adetu playing significant roles, complementing management effort in the delivery of these milestones; in service of the long term vision of the …

MTN Launches 5G Network

MTN Launches 5G Network

July 1, 2020 4:42 am
MTN South Africa has launched its commercial 5G network, providing access to 100 sites across the country.

According to MTN SA CEO Godfrey Motsa during the company’s live-streamed launch event, the telecommunication company stepping up its digital revolution with the next generation of technology with the capacity to bring about exponential improvements to the country’s economy.

“Today, from MTN’s birthplace of South Africa, we are stepping up our digital revolution with the next generation of telecommunication technology, demonstrating to all South Africans that 5G is no longer just an idea. It is here, it works and it has the capacity …

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𝐀𝐟𝐫𝐢𝐜𝐚 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐍𝐞𝐰𝐬, 𝐍𝐞𝐰 𝐘𝐨𝐫𝐤, is a nonpartisan online news portal founded on the truth to provide you with weekly, insightful articles written with precision and current updates on current events from Africa in particular and the rest of the world in general. All of our reports undergo extensive fact-checking to ensure their veracity, and we adhere strictly to the facts, no matter whose ox is gored.

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