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Facebook hits $1 trillion valuation for first time
Social media giant, Facebook, has hit a $1 trillion valuation, following a dismissal of two antitrust lawsuits against the company. Facebook’s stock closed higher on Monday at $355.64 per share which contributed to the trillion-dollar valuation, Business Insider reported. The rise came after a United States court dismissed complaints by the Federal Trade Commission and a group of state attorneys generals against the social networking company. The FTC has claimed that Facebook is exercising monopoly as the social media giant controls over 60% of the social-networking market. In the ruling of the case, US District Judge James Boasberg in Washington dismissed the claim, as he explained that there was no proof to support their claim. In a separate case, 46 state attorneys general formed a coal...
Jersey extends licences for EU fishing boats
The government of Jersey, a self-governing Channel Island between France and Britain, said Monday that it had extended a transitional fishing agreement with the European Union allowing EU boats to continue operating in its waters for three months. “The EU has recently requested an extension to the transitional arrangements, which had been due to come to an end on 30 June,” a statement from the Jersey government said, adding that “Jersey ministers have agreed to that request.” Jersey lies just off France’s northern coast and access to its rich waters has become a source of friction since Britain’s departure from the EU on January 1 tore up arrangements for fishing in the Channel. To gain new licences, Jersey has insisted that EU boats hand over proof that they have been operating in its wat...
ITF chief: President Buhari providing quality leadership skills
Industrial Training Fund The Director General of Industrial Training Fund (ITF), Joseph Ari, said President Muhammadu Buhari has provided quality leadership through Minister of Industry, Trade and Investment, Otunba Richard Adeniyi Adebayo and his counterpart, Amb. Mariam Yalwaji Katagum which has unleashed innovations and creativity of various agencies under their control. Ari in a press statement signed by Director, Public Affairs Department, Suleyol Fred Chagu, in Jos on Friday after the formal presentation of the ITF Mobile Android GSM smart phone to President Muhammadu Buhari at the Presidential Villa, Abuja, credited the achievement to the inspirational leadership and support to the Ministers. He said the ITF mobile phone, which was comparable in quality to any other brand of Android...
NNPC selects 26 firms to lift Nigeria’s crude oil
The Nigerian National Petroleum Corporation (NNPC) has picked 26 foreign and local companies as well as 12 countries to lift the country’s crude oil for the next two years. The crude term contracts, expected to run from 2021 through 2023, would see the firms and the selected nations, which would operate on a Government-to-Government (G2G) basis to purchase the commodity from the national oil company. The deal is coming less than a week after the corporation chose 16 oil and gas consortia for its new crude-for-fuel swap contracts for one year starting in August. The contracts, known as Direct Sale, Direct Purchase (DSDP) are high-stakes agreements used to supply nearly all of Nigeria’s petrol needs as well as cover some of its diesel and jet fuel consumption. However, in the fresh crude oil...
Forces opposed to Somali president control parts of Mogadishu
Gunmen opposed to Somalia’s Mohamed Abdullahi Mohamed had control of strategic parts of the capital Mogadishu on Monday, Reuters journalists saw, after factions in the security forces clashed at the weekend over his term extension. Mohamed signed a law earlier this month extending his mandate for two years after elections were cancelled, setting off a political furore that threatens to distract Somalia’s armed forces from fighting al Qaeda-linked insurgents. The presidential term extension has also irked foreign donors, who have backed his fragile government in the hope of bringing long-needed stability to the Horn of Africa nation largely in turmoil since a 1991 civil war. After exchanges of gunfire rocked Mogadishu on Sunday and some forces came from outside the capital, anti-Mohamed fac...
RCCG apologises to minister over Osun road project
File Photo Minister of Works and Housing, Babatunde Raji Fashola (SAN), on Thursday, dismissed alleged payment of N151million to a firm for a road rehabilitated by the Redeemed Christian Church of God (RCCG) in Osun State. Fashola in his submission before the Senate Committee on Ethics, Privileges and Public Petitions, probing the allegation, said the claim by the church was untrue. He said the 15-kilometer road was awarded to Messrs Cartil Construction Nigeria Limited at the cost of N662.7million by the Federal Government in 2011. He said the Ministry paid N99million as 15% mobilisation fee and N52million to the contractor after the firm achieved 26.2 per cent of work done on the road in March and December 2011, respectively. He insisted that the award of the contract and the subsequent p...
Pep Guardiola: Why I respect Marcelo Bielsa’s coaching ideas
Manchester City boss, Pep Guardiola, has said the best way to judge Marcelo Bielsa is how he makes players and teams better. City meet Bielsa’s Leeds this weekend. “His teams are always better than before his arrival. You see his influence. he doesn’t need much time to realise his own team, it belongs absolutely to him and for world football it is a joy,” Guardiola said. “A guy who respects the opponent, who plays for the fans, who just wants to play for a victory home or away and convinces the players to follow him. I recognise the best because people say he doesn’t win titles but give him Manchester City and he will win titles. “It depends on the players you have but the players he has are always better players. That is the best proof of when a manager is good.” Get more stories like thi...
Ex-governor’s daughter: Why I had two abortions
Tito, daughter of former Oyo State Governor, Rashidi Ladoja, has disclosed on her Twitter page that she had two abortions and dealt with the shame for a long time. The ex-Governor’s daughter said this in a series of tweets on her Twitter handle. Tito, who is married to singer, Bez Idakula, stated that she had the abortions because she thought those were the only options available to her at the time. But when she was eventually ready to have kids and suffered a miscarriage, she said she thought it was God punishing her for her past. However, she said she was wrong because she didn’t understand the salvation she has in Christ. She explained that Christ’s death and resurrection took away the shame and guilt and advised those dealing with shame to look to Christ for redemption. She further sai...
Commodities trading: SEC issues new rules on warehousing, collateral management
File Photo In a bid to ensure a vibrant commodities trading ecosystem, which would in turn boost foreign exchange earnings for the country, the Securities and Exchange Commission (SEC) has released new rules covering warehousing and collateral management, among others. According to the rules, every warehouse that stores commodities to be traded on a registered exchange shall apply to be registered by the SEC, while the commission shall maintain a register of all registered warehouses to be published on its website. The new rules also provide that any warehouse applying for registration shall submit proof of ownership or registered-lease deed or rent agreement, alongside a disclaimer from the owner of the warehouse/property providing waiver of ownership regarding commodities stored in such ...
US workers enticed with bonuses, time off to get coronavirus vaccine
As Covid-19 vaccination drives get into gear across the United States, some businesses are offering transportation, paid time off and bonuses of up to $500 to encourage workers to get the jab. Labor-intensive industries like slaughterhouses, supermarkets, and farms, whose workers are at higher risk of contracting the virus, have taken the lead, with several large grocery chains offering two to four hours of paid leave time for employees to get vaccinated. “Providing accommodations so employees can receive this critical vaccine is one more way we can support them and eliminate the need to choose between earning their wages and protecting their well-being,” Jason Hart, CEO of supermarket chain Aldi, said in January. Others have taken advantage of Centers for Disease Control and Prevention re...
NIRSAL partners NASENI to create 110,000 jobs in agric sector
The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc) has entered into partnership with the National Agency for Science and Engineering Infrastructure (NASENI) with a view to creating over 110,000 jobs in the nation’s agricultural value chain. NIRSAL said in a statement in Abuja Friday that the move is in “continuation of its mandate of providing end-to-end solutions aimed at fixing breakages along the Agricultural Value Chains (AVC) in Nigeria”. According to the statement, NIRSAL has engaged NASENI as its technical collaborative partner for the conceptualization, design, development, deployment, implementation and execution of various schemes/projects under the NIRSAL-NASENI Comprehensive Tractor Recovery Scheme, the NIRSAL Climate-Smart Modular Geo-Coopera...
VP Osinbajo: We must resist all attempts to tear Nigeria apart
Vice President Yemi Osinbajo has called on Nigerians to resist any attempt to divide the nation saying Nigeria is better as one indivisible entity. He also called for the strengthening of community policing structures which he said will result in improved security situation across the country. Osinbajo who made this known on Tuesday while revalidating his membership of the ruling All Progressives Congress (APC) in Ikenne ward one in Ogun state declared “we must resist any attempt to destroy the unity of this country, our people have lived and worked together for decades, even centuries.” He added: “While we must attend to the cries of communities, and the cries of our people for justice, equity and fairness, we can do so within this same union. Ultimately we are stronger together than apar...
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