Car manufacturing is one area where automation is increasing. Within less than two decades it will be cheaper to operate robots in US factories than hire workers in Africa, a new report warns. Falling automation costs are predicted to cause job losses as manufacturers return to richer economies.Some analysts say poorer countries could be less […]
Criminal groups in the oil-rich Niger Delta could be using guns supplied by Jonah Abbey. Nigeria’s secret police says it has arrested a notorious gunrunner who has been on its wanted list for the last ten years. Jonah Abbey is allegedly involved in the arms and ammunition trade and is believed to supply weapons to […]
I always wondered why airline pilots have checklists and go through them carefully before takeoff. When I started investing many years ago, I realized why. When risk is high, it is always good to have a checklist. Using a checklist acts as a circuit breaker, according to Zurich-based investor Guy Spier, and prevents investors from […]
Continental farm tyre techHanover, Germany—A little more than two years after it confirmed plans to re-enter the farm tyre market, Continental AG has launched its first two standard ag tyres, the Tractor 70 and 85, and said they’d be available in North American this summer. The premium radial drive tyres are available initially in 14 […]
The Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, on Saturday assured Nigerians that the era of fuel scarcity is gone for good. Receiving the Man of the Year Award from Nigeria NewsDirect newspaper, the NNPC GMD said that the corporation had learnt a great lesson during the recent fuel scarcity […]
Despite Central Bank of Nigeria’s (CBN) effort to promote financial inclusion, Nigerian banks lost over 2 million customers between 2016 and 2017. According to statistics from the Nigeria Inter-Bank Settlement System (NIBSS), the number of active bank accounts also reduced by 1.5 million, dropping from 65 million to 63.5 million. The statistics obtained by the […]
Rogue bosses who try to line their own pockets at the expense of company pension schemes face jail in a new government crackdown. They would be liable to up to two years in prison for risking the pension savings of their employees. In the wake of a series of scandals over mismanagement of final-salary pension […]
A civil society organization, Socio-Economic Rights and Accountability Project (SERAP) has written the United Nations Security Council asking that herdsmen who have been blamed for killings in various parts of Nigeria be declared a terrorist organization. SERAP also demanded that the UN Security Council should a special meeting focused on the state of insecurity in […]
Sellers reacted to recent muted demand for light, sweet Nigerian crude by cutting offer levels while Angola awarded its major products tender and issued its May programme. NIGERIA ExxonMobil lowered its offer for a cargo of Qua Iboe to dated Brent plus $1.60 a barrel for loading April 7-11. Offers for April-loading Qua Iboe have […]
Traders who look for future price direction in chart patterns are finding more indicators suggesting the world’s largest digital currency may have further to fall. Bitcoin’s 50-day moving average has dropped to the closest proximity to its 200-day moving average in nine months. Crossing below that level — something it hasn’t done since 2015 — […]