June
Report: Jack Ma’s Ant Group considers overhaul due to regulatory pressure
Chinese financial technology giant Ant Group plans reorganisation that would allow it to be regulated more like a bank, Bloomberg reports. Jack Ma’s besieged Ant Group Co. is planning to fold its financial operations into a holding company that could be regulated more like a bank, according to people familiar with the situation, potentially crippling the growth of its most-profitable units. The fintech giant is planning to move any unit that would require a financial license into the holding company, pending regulatory approval, said the people, who asked not be named because the matter is private. The plans are still under discussion and subject to change, the people said. Ant declined to comment. The operations that Ant is looking to fold into the holding company include wealth managemen...
CBN: Naira to fall further in January
Barely five days to the end of the year 2020, the Central Bank of Nigeria has disclosed that a survey carried out by its Statistics Department revealed that the naira is expected to depreciate further in January 2021. The report, titled, ‘December 2020 Business Expectations Survey Report’ added that there might also be a steady rise in interest rate from December till the next six months. The naira witnessed a sharp fall in recent weeks, reaching its lowest on November 30, 2020, when it exchanged for N500/$1. Since then, the dollar has been hovering between N460 and N470. As of Friday, however, one dollar exchanged for 465 in the parallel market. Also, the Nigerian economy had on November 21 slid into its second recession in five years when the economy shrank again in the third quarter. Th...
NHIS recovers N2 billion debts from HMO’s
File Photo The National Health Insurance Scheme, NHIS, on Tuesday says it has recovered the sum of N2 billion debts from Health Maintenance Organizations, HMOs, and unpaid bills to Health care facilities. NHIS General Manager, Enforcement Department, Pharmacist Mohammad Ghali, disclosed this during a stakeholders sensitization workshop held in Kano to strengthen effective operations of the scheme. Ghali said it received complaints from the health care providers over HMO’s non-payment of services rendered to enrollees and to that effect, the scheme came up with a principle of reconciliation between the HMO’s and healthcare facilities leading to the recovery of the monies, N2 billion, which was later paid to the healthcare facilities. According to him, “over some period, what the NHIS witnes...
Pinterest overhauls harassment policy following discrimination complaints
A five-month investigation into Pinterest’s company culture published on Wednesday recommends broad changes to how the firm handles workplace conflicts, including harassment and retaliation. Produced by the law firm WilmerHale, the report details how the company can improve its workplace conditions and prevent discrimination, specifically recommending the creation of an internal ombudsman’s office that can field employee complaints. The law firm spoke with 350 current and former Pinterest employees over the course of its five-month investigation. Pinterest’s board has already unanimously voted to adopt the recommendations, which were shared with employees on Wednesday and posted publicly on the company’s website. In recent months, a number of Pinterest employees have come forward with comp...
Governor Ganduje: Ex-President Jonathan right to sack Lamido Sanusi as CBN governor
Kano State governor Umar Ganduje said he is in support of former Nigeria President Goodluck Jonathan’s decision to sack Sanusi Lamido Sanusi as governor of Central Bank of Nigeria in 2014. Ganduje said this at the launching of a book on Jonathan written by journalist Bonaventure Philips Melah in Abuja. “Jonathan took a bold step in sacking Sanusi as CBN Governor, which created bad blood in certain circles,” Ganduje said. “When Sanusi said $49 billion was lost in Jonathan’s government, I said in my mind that No, you could have discussed with him (Jonathan) privately. “You (Sanusi) could have given him this clue and then he would know how to investigate even before those who had stolen the money would find a way of hiding the money.” Jonathan in April 2014 sacked Sanusi as CBN governor over ...
AKK gas pipeline at 15 percent completion – NNPC chief
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari, says the construction of Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project is currently at 15 per cent completion. Kyari disclosed this at the inspection of the second leg of the project at Karogo community in Igabi Local Government Area, Kaduna State, on Tuesday. “The project is currently at about 15 per cent completion but what is important for us to know is that we are crossing the river Niger, what we call the Ndoni-Aboh river crossing in Rivers and Delta states that will deliver gas from the eastern part to the country into the western corridor. “That means expanding gas supply into the help line and also making gas ready. We are happy that this project is going on and we will deliver it...
Nigerian government given N81 million bill to cut Abuja stadium grass – minister
The Minister of Youth and Sports Development, Sunday Dare, has said the Federal Government was given a bill of N81 million to cut the Moshood Abiola National Stadium in Abuja. He said this in a series of tweets on Sunday. According to Dare, the sports ministry rejected the bill. The minister explained that fund was not available, adding that there would be an outcry if Nigerians were told that N81 million was used to cut grass. He tweeted, “The ministry was given a bill. The Ministry did not accept. It will be detrimental to spend such an amount. And it can be better invested. “If we tell Nigerians we used N81m to cut grass, which is not even available, there will be an outcry. “The funds are not really there for us and that is why we are partnering with private investors to bring back the...
Rollercoaster: Bitcoiners who missed rally feel relief and regret
Arianna O’Dell, a 30-year-old entrepreneur and songwriter based in New York City, had a tumultuous four-year journey in cryptocurrency before selling her investments in February. During her rollercoaster ride, bitcoin prices swung from less than $1,000 to nearly $20,000. O’Dell may not have made optimal decisions about when to buy or sell, and missed out on the recent rally – but said she does not regret that. Investing $2,705 worth of proceeds into her business was better than enduring the stress of daily fluctuations, even though the price has since doubled, she said. “Honestly, I’ve had more luck in Vegas than I’ve had with cryptocurrencies,” O’Dell said in an interview. She is part of a relatively new class of retail investors who joined the cryptocurrency market years ago, helping pro...
China accuses India of discrimination over latest app ban
Beijing lashed out at India on Wednesday after it banned another tranche of Chinese apps for national security reasons, the latest sore point between the two nuclear-armed neighbours. Tensions remain high between Beijing and New Delhi after a deadly June clash in a disputed border area that left 20 Indian soldiers dead and an unspecified number of Chinese casualties. India banned 43 Chinese apps on Tuesday — including some from e-commerce giant Alibaba — for threatening “sovereignty and integrity”. China said it had “serious concerns” about the move and India’s “so-called pretext of upholding national security”. “The relevant methods clearly violate market principles and WTO guidelines, and severely harm Chinese companies’ legal rights and interests,” said foreign ministry spokesman Zhao L...
Ex-Malawian president ordered to pay for mandate ‘defiance’
Malawi’s High Court ruled on Friday for former President Peter Mutharika and former Chief Secretary to Government, Lloyd Muhura, to personally pay the entire cost of litigation for violating their constitutional mandate in light of their order to put Chief Justice Andrew Nyirenda and another judge on leave pending retirement. The post Ex-Malawian president ordered to pay for mandate ‘defiance’ appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
Europe to pay less than US for Pfizer COVID-19 vaccine
The European Union has struck a deal to initially pay less for Pfizer’s COVID-19 vaccine candidate than the United States, an EU official told Reuters News Agency as the bloc announced on Wednesday it had secured an agreement for up to 300 million doses. The experimental drug, developed in conjunction with Germany’s BioNTech, is the frontrunner in a global race to produce a vaccine, with interim data released on Monday showing it was more than 90 percent effective at protecting people from COVID-19 in a large-scale clinical trial. Under the EU deal, 27 European countries could buy 200 million doses, and have an option to buy another 100 million. The bloc will pay less than $19.50 per jab, a senior EU official involved in talks with vaccine makers told Reuters, adding that partly reflected ...
Lionel Messi’s father already in talks with PSG to negotiate in January – report
According to a report published by ESPN, Lionel Messi’s father and agent Jorge Messi is already in talks with PSG over a negotiation that can take place in January. Messi wanted to leave the club in the summer, but a move to Manchester City fell through after extensive legal proceedings regarding his contract and if he could leave the club for free. Now former President Josep Bartomeu blocked the transfer himself, saying that he could leave for no less than his €700 million – the release clause mentioned in the contract. The Argentine came out after that to speak about the saga, explaining his unhappiness, and how the only reason he did not leave was because he did not want to drag the club he loved into a legal battle. However, he can leave Barça in June, next year on a free transfer, and...
