Category: Business
BlackBerry Kicks Off Share Buyback Plan After Gaining TSX Green Light
BlackBerry is set to repurchase up to 27.8 million shares under a newly approved NCIB share buyback program, representing 4.7% of its public float. The buybacks can take place across multiple North American exchanges from May 2025 to May 2026, with TSX daily purchase limits. All shares bought back will be canceled.
Fuel Price Hike in December: What South African Drivers Need to Know
South African motorists will face higher fuel costs this December as official adjustments indicate increases across all fuel types. Despite earlier expectations of a slight decrease, petrol and diesel prices are set to rise. Factors such as regulatory margin changes, global oil price fluctuations, and the weaker rand contributed to the increases, which will likely affect consumer goods prices.
Dogecoin's Meteoric Rise: From Meme to 43-Cent Phenomenon
Originally created as a joke, Dogecoin has experienced an unprecedented price surge, reaching 43 cents a coin. This surprising ascent is fueled by rampant speculation and the fervent support of its online community. Prominent figures like Elon Musk have further amplified its rise through social media engagement. While the excitement is palpable, concerns about market volatility and the sustainability of such gains persist.
Nigeria Faces Recurrent Power Crisis as National Grid Collapses Sixth Time in 2024
Nigeria experienced a nationwide blackout following the sixth collapse of its national electricity grid in 2024, highlighting the ongoing challenges in stabilizing the grid. Disruptions were reported in multiple states, impacting millions of residents and industries. Efforts are underway to restore power, though no official cause has been disclosed. This recurrent issue raises concerns about the reliability of Nigeria's power infrastructure.
South African Reserve Bank to Maintain Modest Interest Rate Cut Amid Global Trends
The South African Reserve Bank is poised to implement a 25 basis points rate cut despite the Federal Reserve's significant reduction. This reflects a careful approach to supporting economic growth while managing inflationary pressures. Factors influencing this decision include inflation rates, GDP growth, and employment figures, with an emphasis on stability.
Nigeria Faces Fourth Nationwide Blackout in 2024 as National Grid Collapses Again
Nigeria has suffered its fourth national grid collapse of the year, resulting in a country-wide blackout. This latest failure adds to the country's ongoing electricity crisis, with system failures also recorded in February, March, and April of 2024. The Abuja Electricity Distribution Company is working with authorities to restore power, acknowledging that gas constraints have been impacting generation capacity.
Kenya's Budget 2024/25: Tackling Debt and Protecting Economic Recovery
Finance Minister Njuguna Ndung’u announced that Kenya's 2024/25 budget will focus on addressing the nation's debt while ensuring economic stability and growth. The budget aims to support employment opportunities for youth and manage debt effectively. Total public debt stands at 68% of GDP, set to decline according to the World Bank.
Nigerian Star Davido Enters Crypto Market with New Meme Coin Amid TapSwap Surge
Nigerian superstar Davido has launched his own meme coin, joining the ranks of celebrities tapping into cryptocurrency trends. This initiative is expected to leverage his vast fan base, although details about the coin remain scarce. This highlights the growing intersection between celebrity culture and digital finance.
Justice Department Takes On Ticketmaster and Live Nation: Antitrust Suit Aims to Reshape Concert Ticketing Industry
The US Justice Department has filed an antitrust lawsuit against Ticketmaster and Live Nation, accusing them of monopolistic practices. The litigation targets the stranglehold the merged entity has on the ticket-selling market, potentially leading to cheaper ticket prices and increased competition. This move is part of broader federal efforts to combat illegal monopolies in various sectors.
The Kenyan Labour Dilemma: Declining Wages, Rising Taxes, and Job Insecurity
Kenya's labor market struggles with a significant dip in real wages and higher taxes, profoundly impacting both formal and informal sectors. A recent report underscores these challenges, highlighting a decrease in workers' salaries alongside increasing tax pressures.