Transferwise resumes Nigeria money transfers after 17-month break, citing confidence in naira

Businessam StaffOctober 20, 2017

Money transfer company Transferwise has resumed remittances to Nigeria after a 17-month break, having confidence in the central bank’s handling of the naira, Kristo Kaarmann, its chief executive said Friday, according to Reuters report. Remittances or money transfers make up the second-largest source of foreign exchange receipts in Africa’s biggest economy, after oil revenues. Around […]

Mitsubishi Motors announces first business plan since mileage scandal

Businessam StaffOctober 19, 2017

Mitsubishi Motors Corp. said Wednesday it plans to boost its annual global sales and revenues by more than 30 percent over three years and introduce 11 new models, aiming to restore public trust following a fuel economy data manipulation scandal. Under its medium-term business plan through fiscal 2019, the automaker said it plans to boost […]

Apple ordered to pay $440m to FaceTime patent troll

Businessam StaffOctober 17, 2017

VirnetX’s seemingly endless FaceTime patent lawsuit against Apple is winding down… sort of. An Eastern District of Texas court has denied all of Apple’s motions to end the case in a non-infringement ruling or retrial, leaving the tech giant with a final judgment that orders it to pay VirnetX $439.7 million. That’s much more than […]

UBA grows nine months profit by 33%, sees increased contributions from offshore subsidiaries

Businessam StaffOctober 16, 2017

United Bank for Africa (UBA) Plc Monday announced its unaudited third quarter earnings results ended September 30, 2017, showing remarkable performance across key financial indicators with profit growth of 33 percent. The banking group’s earnings grew by 26 percent to N333.9 billion, driven by strong performance in core revenue lines as against N265.5 billion reported […]

Viacom, Charter agree to extend renewal deadline, source says

Businessam StaffOctober 16, 2017

Viacom Inc and Charter Communications Inc agreed on a short-term extension of their renewal deadline, a source familiar with the matter said, as the companies aim to avoid the immediate blackout of Viacom networks. If no deal is reached, 16.6 million subscribers of Charter’s Spectrum service will lose Viacom’s networks, which include Comedy Central, MTV […]

Samsung CEO to resign despite record Q3 earnings

Businessam StaffOctober 13, 2017

South Korean smartphone maker, Samsung Electronics Co Ltd announced Friday of the impending resignation of its CEO and Vice Chairman Kwon Oh-hyun, which has further deepened concerns over a leadership void at the tech giant after group former Chairman, Jay Y. Lee was jailed for bribery. Oh-hyun was supposed to step up following the arrest […]

Medview Airlines adds four new destinations to its international operations

Businessam StaffOctober 12, 2017

Medview airlines has announced four additional destinations to its international operations. The carrier in a statement Thursdaysaid the additions are sequel to its acquisition of a new aircraft, B777-200ER. “Following acquisition of a new aircraft, Medview is expanding her operations in the West African sub-region with flights to Abidjan,Conakry Conakry and Dakar,” it said adding that […]

FBN Holdings announce major appointments

Businessam StaffOctober 5, 2017

intercontinental partnerships, First Bank

FBN holdings have announced major appointments across its group structure. In a notice to the Nigeria Stock Exchange (NSE) Wednesday, the holding company informed stakeholders of the following appointments within the FBN Holdings (FBNH)’s Group: 1. Seye Kosoko appointed as the Company Secretary subject to regulatory approvals. He will be replacing Alhaji Tijjani M. Borodo who […]