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EU Privacy Proposal Could Dent Facebook, Gmail Ad Revenue

EU Privacy Proposal Could Dent Facebook, Gmail Ad Revenue

Online messaging services such as WhatsApp (FB.O), iMessage (AAPL.O) and Gmail (GOOGL.O) will face tough rules on how they can track users under a proposal presented by the European Union executive on Tuesday which may hit advertising revenue. The web players will have to guarantee the confidentiality of their customers’ conversations and get their consent […]

Moroccan Central Bank Approves Five Islamic Banks

Moroccan Central Bank Approves Five Islamic Banks

  Morocco’s Central Bank has approved five requests to open Islamic banks in the country and allowed three French banks to sell Islamic products, it said on Monday. Islamic banks and insurers are setting up in Morocco after new legislation allowed them into the market, and the central bank has set up a central sharia […]

Yuan Weakens, Foreign Accounts On The Rise In China

Yuan Weakens, Foreign Accounts On The Rise In China

Zhang Yuting lives and works in Shanghai, has only visited the United States once, and rarely needs to use foreign currency. But that hasn’t stopped the 29-year-old accountant from putting a slice of her bank savings into the greenback. She is not alone. In the first 11 months of 2016, official figures show that foreign currency […]

OPEC, Non-OPEC Agree First Global Oil Pact Since 2001

OPEC, Non-OPEC Agree First Global Oil Pact Since 2001

OPEC and non-OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that overstretched many budgets and spurred unrest in some countries. With the deal finally signed after almost a year of arguing within the Organization of […]

Banking Fraud Is Costing The Nigerian Economy Dearly

Banking Fraud Is Costing The Nigerian Economy Dearly

Pervasive electronic banking fraud is affecting Nigeria’s banking system and costing the Nigerian economy dearly. It is also holding back the adoption of cashless technologies and has become an obstacle to financial inclusion in Africa’s second largest economy. Recent data shows that last year electronic fraud in the banking sector accounts for about 16% of […]

Nigeria To Finish Eurobond Sale By End Q1, Make Currency More Flexible: Vice President

Nigeria To Finish Eurobond Sale By End Q1, Make Currency More Flexible: Vice President

Nigeria hopes to conclude the sale of a $1 billion Eurobond by the end of the first quarter of 2017 and will seek to make its foreign exchange market more flexible, vice president Yemi Osinbajo said on Tuesday. Nigeria is in its deepest recession in 25 years and needs to find money to make up […]

Regional Partners Pledge Billions In Help For Tunisia

Regional Partners Pledge Billions In Help For Tunisia

Qatar said it would provide $1.25 billion in aid to shore up Tunisia’s post-revolution economy as regional and Western partners pledged extensive financial backing at an investment conference on Tuesday. The money from Qatar, announced by the emir, Sheikh Tamim bin Hamad al-Thani, is the biggest single offer of aid to Tunisia since a 2011 […]

Nigeria’s Recession Deepens In Q3, Oil Output Falls

Nigeria’s Recession Deepens In Q3, Oil Output Falls

  Nigeria’s recession deepened in the third quarter and oil production fell, the National Bureau of Statistics (NBS) said on Monday, as a dollar shortage kept Africa’s biggest economy in a stranglehold. Gross domestic product contracted by 2.24 percent year-on-year, the NBS said. That was even worse than the 2.06 decline in the second quarter, […]

Nigeria Reaches A Deal To Pay $5.1 Billion In Unpaid Bills To Oil Majors

Nigeria Reaches A Deal To Pay $5.1 Billion In Unpaid Bills To Oil Majors

Nigeria has reached a deal to pay $5.1 billion in unpaid bills to oil majors including Royal Dutch Shell and Exxon Mobil , the minister of state for oil said on Thursday. The Nigerian National Petroleum Corporation (NNPC), the OPEC member’s state oil firm, has amassed a total of $6.8 billion in unpaid bills up […]

Lundin Mining To Sell Stake In Tenke Mine Owner For $1.14 bln

Lundin Mining To Sell Stake In Tenke Mine Owner For $1.14 bln

Canada’s Lundin Mining Corp said it would sell its indirect stake in TF Holdings Ltd to an affiliate of Chinese private-equity firm BHR Partners for about $1.14 billion in cash. Bermuda-based TF Holdings owns an 80 percent interest in Tenke Fungurume Mining SA. Lundin owns an indirect 30 percent stake in TF Holdings, resulting in […]