The Nigerian economy experienced a slower growth rate in the first quarter of 2023 due to a cash crunch caused by the country’s currency redesign. This has had a significant impact on business activities, and analysts predict that the growth of the economy will remain uncertain, with growth likely to fall below the forecast for…
The federal government has launched a National Policy on Blockchain Technology and inaugurated Implementation & Steering Committee to oversee its implementation to fast track the adoption and utilise the gains of emerging technologies. A statement issued yesterday by the Spokesperson of the National Information Technology Development Agency (NITDA) Hadiza Umar said the policy was launched…
The Nigerian Federal Government has committed to providing intervention funds to boost the development of methanol fuel technology in the country. Minister of Science Technology and Innovation, Adeleke Mamora, made the announcement at a roundtable interactive session with the Abuja Chamber of Commerce and Industry (ACCI) on the feasibility studies for the adoption of methanol…
Australian oil and gas firm Invictus Energy announced Monday it has found oil, gas and helium in remote northeastern Zimbabwe, a culmination of months of exploration. The company said that mud gas analysis from the Mukuyu-1 well drilled last year had proved the presence of hydrocarbons in multiple reservoir pay zones. “Analysis…
Former Pakistani Prime Minister Imran Khan has been arrested outside a High Court in Islamabad, the country’s capital. Dozen of cases have been brought against the 70-year-old politician since he was ousted from power. According to reports, security forces have tried to detain him on previous occasions but were blocked by his supporters. Last…
China is leading the electric vehicle (EV) market globally, selling more than half of the new EVs worldwide in 2022. This is attributed to the advanced technology and high-quality offerings of Chinese EV companies, which are in high demand globally. Chinese EV companies are focusing on developing modern technologies to satisfy consumer demand. They are…
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…
