Global equities advanced on Tuesday after U.S. President Donald Trump extended the deadline for his planned “Liberation Day” tariffs by three weeks, offering a temporary reprieve for several major trading partners as negotiations continue. With the original tariff deadline just days away, Trump announced a new cutoff date of August 1, giving nations additional time…
Samsung Electronics on Tuesday projected a 56% year-on-year decline in its second-quarter operating profit, attributing the sharp drop to U.S. restrictions on the export of advanced AI chips to China. In a regulatory filing, the South Korean tech giant said it expects operating profit for the April–June period to fall to 4.6 trillion won ($3.3…
By Ayomide Otitoju TotalEnergies has announced that its Ubeta gas field project in Nigeria has entered the execution phase, with an expected production capacity of 70,000 barrels per day (bpd) of gas and condensates by 2027 — a major boost to the country’s gas development drive. In a statement released Monday, the French energy company…
By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPC Ltd) has donated 35 hybrid Compressed Natural Gas (CNG)-powered buses to the Presidential Initiative on Compressed Natural Gas (Pi-CNG), reaffirming its commitment to Nigeria’s clean energy transition. The donation, announced on Monday during a handover ceremony at the NNPC Towers in Abuja, marks a significant…
By Ayomide Otitoju The Federal Government has imposed a fine of ₦766,242,500 on Multichoice Nigeria for violating provisions of the Nigeria Data Protection Act, according to the Nigeria Data Protection Commission (NDPC). In a statement issued Sunday, Head of Legal, Enforcement, and Regulations at NDPC, Babatunde Bamigboye, said the sanction followed an extensive investigation into…
By Ayomide Otitoju The Sahara Group has announced that the second edition of Asharami Square, its flagship thought leadership platform, will focus on gas-related opportunities critical to enhancing energy access and security across Africa. Asharami Square, a Sahara Group sustainability initiative, is designed to promote responsible energy development and foster impactful media advocacy. According to…
Tesla Inc. shares slid more than 3% on Monday as investors reacted to CEO Elon Musk’s announcement that he is forming a new political party in the United States, deepening his rift with former President Donald Trump. The dip in Tesla’s stock was first observed in Frankfurt trading, with further declines expected when U.S. markets…
By Ayomide Otitoju The Dangote Petroleum Refinery is poised to become a major tool in Nigeria’s fight against inflation, according to a report by Financial Derivatives Company (FDC) Limited. Presented during the July edition of the Lagos Business School Executive Breakfast Session, the report by FDC CEO Bismarck Rewane highlighted the refinery’s role in reducing…
By Ayomide Otitoju Key members of the OPEC+ alliance, including Saudi Arabia and Russia, will meet on Saturday to deliberate on crude oil output levels, with analysts expecting a continuation of production hikes into August. The meeting—expected to be held virtually—brings together the so-called “Voluntary Eight” (V8): Saudi Arabia, Russia, Iraq, the United Arab Emirates,…
