Oyedele at UNGA: ‘Africa needs affordable capital to finance infrastructure’
The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has called for a major shift in the global approach to financing Africa’s development, urging the international community to make affordable, long-term capital available for infrastructure and energy projects across the continent. Oyedele, who made the call at the United Nations Dialogue […]
PayPal to trade under old symbol after split from EBay
PayPal, the payments division that’s separating from the online marketplace, EBay, will trade on the Nasdaq Stock Market as PYPL, its original ticker symbol before being acquired by the online marketplace in 2002. “I’m honoured and thrilled that PayPal is returning to its roots as an independent company,” said PayPal President, Dan Schulman, who will be the company’s Chief Executive Officer when the split is completed in the third quarter of the year.
Netflix in talks to enter China
Video streaming company, Netflix is in talks with Wasu Media Holding Co. and other potential partners to enter China’s booming online video market. Netflix is seeking a partner that has licenses for content on all devices, including mobile phones, computers and set-top boxes, the report said. Netflix earlier said it was developing plans to launch a “modest” service in China if it can get permission to operate in the world’s most populous country.
Rocket Internet launches online classifieds site
German based Internet company, Rocket Internet has unveiled an online classified platform, Vendito for emerging markets. The site which is already live in Senegal, Uganda and Tanzania is expected to go live soon in Nigeria at Vendito.com.ng or Vendito.ng and in Ghana as Vendito.com.gh and Vendito.co.ke in Kenya. The company told the media last week that most of the URLs are not live to the public yet.
Agents Threaten Diversion of cargoes over Intels moves to create monopoly
“What they are doing is creating a monopoly that is anti-people, and not in the interest of the economy. “Everybody should have a choice of where they want to take their cargoes to. “The government concessioned the ports, all of them (concessionaires) signed the same documents. “Why do you have to force people to take their cargo to Intels…so that they can charge them in dollars, and not only that, their charges are 300 times more than regular charges in other ports.”
Olam to mill 200,000 metric tonnes of paddy rice in Nassarawa
Olam Nigeria Limited has concluded plans to kick-start milling of 200,000 metric tonnes of paddy rice in Doma Council, in Nassarawa, by June 1, this year. General Manager, Olam Rice, Reji George, who disclosed this said the milling is part of the company’s backward integration plan in the sector and it expected to aid local rice production, self sufficiency target and job creation efforts of government.
