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India’s TCS to Partner with TPG for Multi-Billion Dollar AI Data Centre Joint Venture
MUMBAI – Tata Consultancy Services (TCS), India’s leading IT services company, is set to form a multi-billion dollar joint venture with private equity firm TPG to develop AI and sovereign data centres, according to a report by the Economic Times. The venture, tentatively named HyperVault AI Data Centre, will focus on large-scale data processing and…
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Nigeria Begins User Acceptance Testing of National Single Window (NSW)
The Federal Government of Nigeria has commenced user acceptance testing (UAT) for the National Single Window (NSW), a unified digital trade platform aimed at modernizing and streamlining the country’s trade processes. The platform is slated to become operational by March 2026. The inaugural testing involved key regulatory and trade agencies, including NAQS, SON, NESREA, NCS,…
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Russian Duma Warns EU: Any Seizure of Assets Must Face Legal Action Against Belgium and Euroclear
MOSCOW – Russia’s parliament, the State Duma, issued a resolution on Thursday warning that any attempts by the European Union to seize Russian assets should be met with legal action against Belgium and Euroclear, the Belgium-based depository where most of the immobilized funds are held. The resolution comes in response to a European Commission proposal…
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VFD Group Strengthens Creditworthiness with N12.83 Billion Commercial Paper Redemption
VFD Group Plc has successfully redeemed its N12.83 billion Series 5 Commercial Paper (CP), reinforcing the group’s liquidity and commitment to disciplined balance sheet management. The CP, part of the company’s N20 billion commercial paper programme, matured on November 14, 2025. Mr. Folajimi Adeleye, Executive Director of Finance & Investor Relations, stated that the redemption…
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Colt CZ Group Lowers 2025 Outlook as U.S. Shutdown Delays Revenue
PRAGUE – Czech firearms manufacturer Colt CZ Group reported a rise in nine-month earnings but lowered its full-year 2025 outlook, citing revenue delays caused by the recent U.S. government shutdown. The United States is one of Colt CZ’s largest markets, alongside European firearms and ammunition sales. The company stated that some revenue expected in the…
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Experts Urge Strong Regulations to Avoid Distortions in Nigeria’s Downstream Sector
Industry experts have weighed in on the newly launched Dangote Refinery, highlighting its potential benefits as well as early operational challenges. Dr. Chijioke Ekechukwu, Managing Director of Dignity Finance & Investment Ltd, noted that the refinery’s output could influence economic forecasts for 2024–2025. By relying more on local crude, Nigeria could ease pressure on foreign…
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LATAM Airlines and Chilean Pilots Union Reach Contract Deal, Ending Historic Strike
SANTIAGO, CHILE – LATAM Airlines and its Chilean pilots have successfully reached a contract agreement, bringing an end to the week-long strike that disrupted flights across the country. The announcement was made on Wednesday by the pilots’ union, marking the conclusion of the first strike by LATAM pilots in nearly three decades. The industrial action…
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Telecom Operators’ Operating Costs Surge 85% to N5.85 Trillion in 2024
Nigeria’s mobile network operators (MNOs) saw a sharp rise in total operating expenditure (opex), climbing from N3.16 trillion in 2023 to N5.85 trillion in 2024, representing an 85% year-on-year increase, according to the Nigerian Communications Commission (NCC). Operating costs cover both direct costs of providing services, such as materials and labor, and indirect costs like…
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Axalta Investor Artisan Partners Urges Shareholders to Reject AkzoNobel Merger
NEW YORK – Investor Artisan Partners has voiced strong opposition to Axalta Coating Systems’ proposed all-stock merger with AkzoNobel, calling for shareholders to reject the $25 billion deal that would create a global paint and coatings powerhouse. In a letter to Axalta shareholders, Artisan Partners fund managers Daniel O’Keefe and Michael McKinnon wrote, “As an…
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All On Invests $250,000 in Clean Energy for Nigerian SMEs
All On, an impact investment company focused on expanding energy access in underserved and off-grid Nigerian communities, has announced a follow-on investment of $250,000 in ICE Solar Commercial Power Limited, a rapidly growing provider of Energy-as-a-Service solutions for Small and Medium Enterprises (SMEs). This second round builds on All On’s initial investment in 2021, highlighting…
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