Russian-made smartphones are struggling to compete with Chinese imports, resulting in a significant drop in sales, according to a report by Vedomosti. The report indicates that the number of Russian-made smartphones sold in the first quarter of 2023 is less than half of last year’s figures. Specifically, only 46,900 Russian-made smartphones were sold in Q1…
Health insurance accounted for the largest proportion (33.2%) of non-life insurance premium revenue in Vietnam last year. Health insurance premiums jumped by 24.3% to VND22.4tn ($955m), compared to 2021, reported vneconomy.vn citing preliminary data received by the authorities. Together, the five branches contributed over 90% of total non-life premiums in 2022. Total insurance premium revenue…
The Cambodian insurance industry chalked up gross insurance premiums of about $330m in 2022, an increase of 10.68% over 2021. The increased insurance premiums last year reflected the strength of the insurance market in Cambodia, which contributed 1.1% to the Southeast Asian country’s gross domestic product (GDP), reported The Khmer Times quoting the deputy director-general…
About 48 million of Nigeria’s crude oil Barrels that were stolen and sold in China at about $2.4 billion dollars has sparked a protest at the premises of the legislative arm of the country. Nigeria is known for persistent crude oil theft. The organised crime cannot be undertaken by people outside corridors of power…
Liquid Intelligent Technologies, a leading pan-African technology group has signed a Memorandum of Understanding (MOU) with the Government of Zambia to accelerate the country’s digital transformation and provide reliable and affordable connectivity to all Zambians. The agreement builds on Liquid’s already extensive investments made since it opened its doors in Zambia in 2011. In the…
The South Sudan Minister of Finance, International Monetary Fund (IMF), Africa Energy Investment Corporation (AEICORP) and Trade & Development Bank (TDB) have struck a deal during the country’s Oil and Power Summit. Finance leaders at the sixth edition of the South Sudan Oil & Power conference put investment in East African energy projects top of…
World’s leading Engagement Banking platform provider, Backbase will hold its Tour in South Africa, Johannesburg for the first time. The single-day conference at the Four Seasons Hotel The Westcliff will include visionary keynotes, expert-led discussions, and networking sessions with banking and fintech leaders. On 16 May, around 150 banking and fintech professionals representing retail banking,…
The China Development Bank is now the financier for the $22.7bn Kaduna – Kano Rail Project in North Western Nigeria. The project was initially meant to be funded by the China Exim Bank which later rescinded its decision to provide the funds. But the Senate in its resolution on Tuesday approved the engagement…
Electric carmaker Tesla has been directed by the court to pay almost $3.2m (£2.6m) to a black ex-employee after he won a racial harassment lawsuit. Owen Diaz, who worked as a lift operator from 2015 to 2016 at its Fremont factory, was found to have been subjected to a racially hostile work environment. However, the…
The UK’s data watchdog, the Information Commissioner’s Office (ICO), has fined TikTok £12.7m for failing to protect the privacy of children under the age of 13. The investigation found that the video-sharing site allowed up to 1.4 million UK children under the age of 13 to use the platform without parental consent, which violated its…
