NCC, CBN set deadline for 9mobile takeover bid

Nigerian Communications Commission (NCC) alongside the central bank have set a Jan. 16 deadline for receipt of binding offers from prospective bidders to acquire debt-laden telecom firm 9mobile, the telecoms regulator said on Thursday. The regulators approved the deadline after 9mobile’s board requested a time extension, the NCC said. It added that Barclays Africa will […]

Samsung tops list of capital spenders in 2017 with $44bn.

Samsung

South Korea’s Samsung Electronics Co. spent $44 billion in 2017 on capital expenditure than any other publicly traded company, according to S&P Global Market Intelligence report. The report shows how technology and telecommunications firms are driving an uptick in manufacturing investment. The South Korean tech giant nearly doubled its investment in new or existing facilities […]

South Africa Airways increases capacity to Mauritius

From January 8, SAA will operate wide-body aircraft on its Johannesburg-Mauritius route. The Airbus A330 generation aircraft will offer a two-class cabin configuration, with increased seat availability. Business class will range from 36 to 46 seats and economy class from 186to 203. The A340-300 has 38 seats in business class and 215 in economy class. […]

Eurozone growth hits near seven-year high of 58.1% in December

Europe’s companies have posted their strongest growth since 2011. The eurozone composite PMI, which measures activity across the region, jumped to 58.1 in December, up from November’s 57.5. The service sector PMI rose to 56.6, up from 56.2 a month earlier. Companies reported that new orders strengthened last month, with manufacturers seeing the steepest increase […]

London airport suspends flights as snow brings travel chaos to the capital

Heavy snow is causing transport difficulties across the UK, after the Met Office issued a series of weather warnings. The poor weather conditions led London Stansted to close one of its runways and suspend flights. The runway has since reopened, but the closure has led to ongoing delays and cancellations. The airport has advised passengers […]

Barclays expects $1.3bn writedown from U.S. tax reform

Barclays expects to take a writedown of about 1 billion pounds ($1.34 billion) on its annual post-tax profit as a result of the U.S. tax overhaul, the bank said in a statement on Wednesday. The reform of the tax system signed into law by President Donald Trump on Dec. 22 will force the British lender […]

Uber selling off auto-leasing business

After confirming the closure of its auto-leasing business, Xchange Leasing, Uber is now reportedly selling it, according to The Wall Street Journal. The buyer? Car ownership startup Fair.com. Uber announced in September that it would be shutting down Xchange Leasing, its Delaware-based subsidiary which partners with auto dealerships to offer vehicle leases to U.S. Uber […]

Nokia signs smartphone patent license deal with China’s Huawei

Nokia, the Finnish multinational communications, information technology and consumer electronics company, said Thursday it had signed a multi-year smartphone patent license deal with China’s Huawei, completing its list of agreements with the world’s largest handset makers. The new deal is one in a series of deals with global mobile phone makers. Nokia recently struck licensing […]