NCC To Sanction 13 Telecom Firms Over Unsolicited SMS

About 13 telecoms operators may face sanctions over unsolicited telemarketing and for failing to comply with the Nigerian Communications Commission (NCC) order on the do-not-disturb (DND) directive issued to them on April 20, 2016.

They have, however, been given another one-week ultimatum from Monday, November 14, 2016 to remedy the situation or face the sanctions.

The network operators include Airtel Network Limited, MTN Nigeria, Globacom Nigeria, Visafone Communications, N-Tel and Etisalat.

StarTimes Pledge To Quality Products and Services

Out of Nigeria’s tens of digital pay-television company, StarTimes a chinese owned company has reiterated its investment commitment towards ensuring quality nationwide signal coverage and innovative offerings both for content bouquets and decoder products.
The company said it was bent on achieving this by developing and deploying technological infrastructure and roll out plans that guarantee very clear digital terrestrial and satellite TV signals to Nigerian TV households. It said the commitment was consistent with its renewed drive to improve digital TV entertainment services and viewing experience for Nigerians and further deepen the penetration and acceptance of digital TV across the nation.
“The company is particularly interested in building and providing quality nationwide signal coverage and innovative offerings, which translate to pleasurable hours of digital television viewing with sharp images and stable signal for subscribers,” said Head of Public Relations at StarTimes, Mr. Israel Bolaji, said. He said: “Since 2010, we have demonstrated this commitment by consistently upping our game in terms of growing our signal strength, quality and nationwide reach.
“In 2010, StarTimes signals covered only four states, today, our signal coverage covers 35 states and extends to over 60 cities, including recent roll outs in some remote areas of Badagry, Epe, Ikorodu and Iyana Iba in Lagos.” He said that StarTimes’ subscribers have, through their consistent patronage, fueled the pay-TV company into going the extra miles for their viewing pleasure. “We are covering the whole nation with improved signals including all states, FCT, historical cities and even rural areas.
Over the years, we have grown the quality of our signal by investing massively in world class facilities and technologies and we are fast spreading the coverage nationwide. With this, we hope to connect every household in Nigeria to our digital TV platform and most desired content offerings, and also prepare the Nigerian masses for digital TV switch over era.

FBNH Reports N 58 bn PBT In Nine Months

FBNH Plc has recorded profit before tax of N57.5 billion for the nine months ended September 30, 2016 as against N59.6 billion posted in 2015. Gross earnings however, increased by 7.0 per cent y-oy to N417.3 billion from N390.0 billion reported a year earlier.
According to a statement from the Group, “The earnings reflect the strong business fundamentals as we keep the revenue momentum amidst a slow business environment.
However, despite the 56.5 per cent y-o-y increase in non-interest income to N131.0 billion, interest income declined by 7.3 per cent y-o-y to N278.6 billion as against N300.4 billion in September 2015.
“Net-interest income improved by 5.2 per cent y-o-y to N202.9 billion from N192.9 billion in 2015, driven by a 38.4 per cent reduction in interest expense on customers’ deposits to N56.7 billion as against N92.0 billion in September 2015.
“This was partly offset by a 7.3 per cent decline in interest income, largely due to a 4.7 per cent y-o-y drop in loans to customers to N193.0 billion from N202.5 billion in September 2015 due to tightening of our risk acceptance criteria, as well as 12.7 per cent y-o-y decrease in interest on investment securities to N74.1 billion from N85.0 billion.

Foreign Firm To Invest $260m In Agric, Power, Other Sectors

 

An international investment partner, QUANTUM Global, has earmarked $50 million for investment in agriculture, power, hospitality and other sectors of the Nigerian economy.
Mr. Franck Alain Behiblo, Head of Corporate Development at Quantum Global who was in the country for World Pension Summit Africa in Abuja, in an interview, said that the fund manager is earnestly yearning to invest in the country’s power, hospitality, and other sectors.
“We have about $260million funds for agriculture. We are looking at the mining sector, health care, hospital sector and structured equity whereby we will provide equity for some of the young companies in Africa, we are looking at hotel.
“Quantum is a fund manager in private equity. We have funds in certain sectors of the economy. We are looking at infrastructure, transportation, roads, mining, healthcare and agriculture.” Behiblo said the organisation will invest the funds in batches while it has $50million ready for investment in power and hospitality.

Google’s Practise Of Making Out-Of-Print Books Accessible Online Is Legal After all

U.S 2nd Circuit Court of Appeals in New York yesterday, noted that, making out-of-print books (books no longer available from a publisher) accessible online is legal. This was made known when the Authors Guild and some other writers made cases on that front, claiming Internet giant Google, a company known for such practise in Google Books infringed on intellectual content laws.
Google Books over the years has repeatedly angered authors, publishers and even rival firms. This year, a copyright violation claim case was laid to the said Appeals court, which if won by the authors would cost the search company billions of dollars in damages, but yet again the claim was apparently rejected, with the legal establishment’s presiding Judge Denny Chin saying, Google’s public service of making such books accessible online definitely falls under “fair use,” making it not to advance beyond acceptable limits on laws covering intellectual property.
Following the decision made by the tribunal, favouring the search firm, it’s spokesman Aaron Stein said “this serves to underline what people who use the service tell us: Google Books gives them a useful and easy way to find books they want to read and buy, while at the same time benefiting copyright holders.”
It’s also worthy to note that just last year, the Authors Guild saw a close scanning books case against schools rejected by the Appeals Court in U.S.

British To Help Grow Nigeria’s Economy

The British Deputy High Commissioner in Nigeria, Mr. Ray Kyles, has unfolded plans on how to help Nigeria grow her economy, adding that attention should be placed on the growth of small and medium enterprises (SMEs). He stated that the SMEs are essential to the rapid growth of the country’s economic development.
He promised that the British Government would collaborate with business communities in Nigeria to grow the economy. Kyles, said in an interactive session in Lagos at the weekend during the British Airways on Business Launch Programme, said that the British Commission would encourage its consulate to open more businesses in Nigeria. He further assured that the UK government would collaborate with President Muhammadu Buhari’s administration to fight corruption and other social vices in the country that were not favourable to the growth of the economy, stressing that for the economy to grow, SMEs required access to finance as is the practise in other climes.

Power Firms Propose 49% Increase In Tariffs

 

Electricity distribution companies in the country have submitted various proposals to the Nigerian Electricity Regulatory Commission to increase tariffs by an average of 49.4 per cent.

They, however, agreed to reduce the amount paid as fixed charge by electricity consumers across the country.

According to NERC, the distribution companies have also adopted different measures to carry out the reduction of the fixed charge.

NERC on Tuesday stated that it would critically review the submissions before approving the rates proposed by the power firms.

It further stated that the rates so approved might be released by the end of this month.

Nigeria's Telecoms To Increase To $42 billion

NCC

Nigeria’s telecoms investment profile is poised to increase to $42 billion in the next four years as the Nigerian Communications Commission continues to woo foreign investors to the country’s broadband sector, New Telegraph has learnt. This was the highlight of a critical Nigeria Day session held with existing and potential investors by the Nigerian Communications Commission (NCC) at the on-going International Telecommunication Union (ITU) Telecom World 2015 at Budapest, Hungary.
With over $32 billion investment already recorded in the sector, government officials say that Nigeria’s telecoms industry provides huge investment opportunities for local and particularly foreign investors with adequate protection for their investments. Broadband has been identified as the next growth frontier for Nigeria’s telecoms market, currently rated as the fastestgrowing in the world.
Already, both Chinese and European telecoms investors are coming to Nigeria for the purpose of participating in the next phase of telecoms investment in the country, according to the Secretary General of ITU, Mr. Houlin Zhao, in his remarks at the Nigeria Day event. “Nigeria and other African nations today are not looking for charity; they are looking for partnership and investment opportunities to grow their telecoms sector.
“Chinese and European companies are coming to Nigeria, as my discussions recently with some investors have indicated. I would encourage Nigeria to work harder to lure these potential investors into your country, which is the largest African country. ITU can also be of assistance to you in facilitatin this partnership with foreign investors,” he said. Zhao also noted that the fact that Nigeria is now championing 4G broadband when most developed countries still grapple with 2G is an indication of penchant for increased investment inflow by the country’s regulator. He noted that Nigeria is rich in talents and expertise. Speaking earlier, the Executive Chairman of NCC, Prof. Umar Danbatta, said that with over 150 million subscribers, over 107 per cent teledensity, over 90 million Internet users and an increase in telecoms investment from $50 million to $32 billion between 2001 and 2015, “getting more investment into the industry is a very vital area for the industry.”

Pepsi SMARTPHONE Will Have A Bigger Camera Than The iPhone 6s

 

Pepsi Android snartphone

The likes of Apple, Samsung and HTC have been turning out new smartphones for years. But an unlikely company is generating plenty of fizz online with rumours surrounding a new mobile.
Pepsi (yes, as in the cola) is planning to create a phone of its own.
Several websites reported a leaked screenshot of a potential smartphone covered with the Pepsi branding.This leaked screenshot showing the Pepsi phone has been circulating around Chinese social media
Several websites reported a leaked screenshot of a potential smartphone covered with the Pepsi branding.

Former Spice Girl Victoria Beckham To Open Hong Kong Store

Victoria Beckham

David Beckham's wife Victoria Beckham, 41, is looking to expand internationally following the success of her London standalone
Speaking with Grazia Magazine, she said:
“Our next store will be in Hong Kong in the first half of next year, which I am incredibly excited about.
I’ve always wanted people to be able to come to the store, whether it was just to browse, look at the architecture, buy a key ring or a full runway look. I have the most phenomenal shop staff.
The VVB collection actually merged with denim this season for the first time as a result of really listening to my customer and understanding that the two categories belong together.
It was such a great night. I really wanted to celebrate the first anniversary, the new VVB/denim merge and also to be part of London Fashion Week.
It’s so important to relax and have fun, that night was a perfect time to reflect on everything we’ve achieved and have fun with friends, family and my fantastic team.”
Pulse

Stock Market Loses N3.255trn In 12 months

Image of Stock Exchange

Total value of stocks listed on the Nigerian Stock Exchange (NSE) fell by N3.255 trillion in twelve months, from September 30 2014 to October 8, 2015. This sharp decline in value of stocks on the exchange, also known as market capitalisation, worsened last week, with investors losing N160 billion between Monday and Thursday.
Specifically, market capitalisation fell by 23.9 per cent from 13.61 trillion on September 30, 2014 to N10.26 trillion at the end of trading on Thursday, October 8, 2015. Another stock market indicator, the All Share Index (ASI) dropped by 26.9 per cent from 41,210.10 basis points to 30123.20 points.  Similarly, market capitalisation fell from N10.512 trillion, Friday October 2 to N10.352 trillion at the end of Trading on Thursday, October 8.

Nigeria, Other Resource Rich Countries Should Learn To Build Buffer – IMF

IMF

The International Monetary Fund has said that Nigeria and other resource-rich economies that face enormous challenges due to drop in commodities prices can adopt right tax policies to address the short fall in revenue. In its survey report it said that resource rich countries that face challenges can manage volatile and unpredictable commodity prices. In its latest Fiscal Monitor, the IMF examines how countries can tax and spend wisely so that their oil, gas and metals support strong and stable economic development.
It said “Fiscal policy can either calm or magnify the effects of volatile commodity prices on the domestic economy. In many countries, large swings in commodity prices have resulted in large fluctuations in public expenditures and, in turn, exacerbated economic volatility.

World Bank Advises Countries Over Economic Slowdown

World Bank President, Dr. Jim Young Kim

The World Bank President Dr Jim Young Kim had a press briefing at the opening of the 2015 Annual Meetings of the body in Lima, Peru. He spoke of the global economic situation, the drop in global poverty rate, the influx of migrants into Europe among others.  Excerpts:
Introductory remarks
“Just a few days ago, we announced that for the first time in history, the percentage of people living in extreme poverty around the world will likely fall to under 10 percent this year, to 9.6. percent globally. This is the best story in the world.
“Our goals at the World Bank Group are to end extreme poverty by 2030, and to boost shared prosperity for the bottom 40 percent in developing countries.  While we remain confident about ending extreme poverty, the final stretch will be extremely difficult because we are in the midst of a period of slow growth, the end of the commodity super cycle, pending interest rate hikes and the continued flight of capital out of emerging markets.

2016 Budget: The Road To The Diversification Of The Economy – James, Economist

Bassey James

Mr. Bassey James, an economist, is the Chief Executive Officer, Bascon Nigeria Limited, Telecom  Master Limited and the founder, Southern Youths Development Forum. He speaks on the 2016 Budget being a tool for diversifying the economy, pay cut for senators, the Central Bank of Nigeria (CBN) management of the Naira, the decision by President Muhammadu Buhari to head the petroleum ministry and what government can do to boost industrial development in Nigeria 
Buhari has declared that  2016 Budget will focus on diversifying the economy into non-oil export sectors. Do you see this working out well?
Buhari wants stability in all sectors of the economy. He is putting measures in place to enhance economic development, which prompted his visit to US and other countries to build bilateral relations that can pave the way for influx of Foreign Direct Investments (FDI) into Nigeria. He discussed with permanent secretaries of various ministries. This, I think will form part of his economic blue print for sustainable growth. For me, Buhari’s administration marks the new beginning for Nigeria.

Apple and Google Remain The World’s Top Two Most Valuable Brands

Apple and Google remain the world’s top two most valuable brands

Several technology companies are among the world’s most valuable brands, according to a new report from consultancy firm Interbrand. Apple, Google, Microsoft, and IBM continue to place at the top of the chart for at least the fifth consecutive year which could further show technology’s influence on the global scene.
Apple and Google remain at the top spot in 2015 as their respective brands have done quite well over the years. This is the third year in a row where they’ve been in the first and second position, respectively. Not only has their stocks increased, but their products play a big part in our day-to-day lives (e.g. iPhone, Android operating system, Chrome browser, iPad, Siri, etc.).

Microsoft unveils Lumia 950 and Lumia 950 XL

Microsoft unveiled the best phones no one buys at a press conference in New York. As expected, the company showcased two new flagship devices, the Lumia 950 and the Lumia 950 XL. As the names suggest, the XL variant is a phablet. These devices come with great specs.
“We want to put Windows in your pocket,” Panos Panay said on stage. “If you haven’t thought about these phones, wake up!”
The Lumia 950 come with octacore and hexacore processors and liquid cooling technology. The smaller version has a 5.2-inch display, while the bigger cousin features a 5.7-inch display. These are OLED displays with a pixel density of 564 ppi and 518 ppi respectively.
Both devices run a 20-megapixel camera with a natural flash. It also comes with the fifth-generation optical image stabilization technology and a dedicated camera button. It can also shoot 4K videos.
All devices come with 32GB of internal storage and a microSD card slot. It has a new USB Type-C connector. Finally, you can charge it to 50 percent in just 30 minutes.

The two devices will ship in November for $549 and $649. The XL version is $100 more expensive. Panay finally hinted at the power of this device. Why would you need liquid cooling for just a phone? Because it’s more than a phone. You can actually plug your Lumia 950 to a dock and use it with your display, mouse and keyboard. It runs a nearly full version of Windows 10.
Called Continuum, the dock has an HDMI, DisplayPort and three USB ports. It looks like a good old USB hub, it’s very tiny and easy to put in your bag. The tile interface in the Start menu copies your phone’s start menu so that you get the exact same apps on your computer and on your phone. Universal apps, such as Mail and Word are scaled up version of the mobile apps.
The demo was very smooth. You can switch between tasks using the regular task switcher. And the best part is that you can still use your phone when your phone is docked. To be clear, this isn’t Windows per se as it runs on an ARM processor, but it is Microsoft’s vision of the future of computing.

Five countries declare interest in Nigeria’s mining sector

Alhaji Sani Shehu, the President, Miners Association of Nigeria, on Wednesday said five countries had declared interest to invest in Nigeria’s mining sector.
Shehu told the News Agency of Nigeria (NAN) in Abuja that the countries were Thailand, South Africa, Dubai, Canada and Australia.
He said they had declared interest to come to Nigeria with their equipment and start mining very soon.
He said their investment in the sector would boost Nigeria’s economy and create job opportunities for the youth.

Twitter Names Jack Dorsey As Permanent CEO

Jack Dorsey will drop the “interim CEO” title and become the permanent chief executive of Twitter.
The company just announced the news and board members are placing their full support behind Dorsey, who will also remain CEO of Square.
That double duty initially was seen as a strike against Dorsey remaining Twitter’s top executive for the long term; at one point the board publicly stated it was searching for someone who could take on the role full time — as most CEOs do.

Amazon Marketplace Now Ships Directly To Nigeria

World’s largest online retailer, Amazon, has just launched Amazon Global Program, a new venture that allows buyers from other countries asides the US and U.K to buy and ship purchases directly to their home country addresses.
This program covers the majority of the of items in Amazon’s product catalog – automotive, clothing, consumer electronics, industrial and scientific products, jewelry, shoes, software, sporting goods, tools, toys, video games etc.
Asides Nigeria, the above items can be shipped to South Africa, Kenya and many other newly added countries around the world.
Amazon will also be responsible for customs clearance of items, as import duty will also estimated during checkout.
Included is a tracking option for shipments, to follow transit and delivery time and locations.
Until this program the site did not allow direct purchases outside its originally supported countries.

Buhari’s Anti-Graft Campaign Good For Business – Dangote

Aliko Dangote

President of Dangote Group, Aliko Dangote, has expressed confidence that Nigeria would weather the oil price crash that has decimated government revenues if it steps up its fight against corruption.
According to the press release from the company yesterday, Dangote stated this at the Financial Times Africa Summit in London, insisting that Africa’s most populous country would grow.
“Nigeria’s GDP won’t stagnate and we will have a short term shock but people should remember the Nigerian economy is resilient and huge,” he said
Dangote remarked that if the government of President Muhammadu Buhari continued its crackdown on corruption, the near 50 per cent oil price slump in the past year would be mitigated.
“The government has also suffered a lot of leakages; when oil was $100 a barrel we weren’t seeing all that revenue collected. If the government collects all its taxes and duties, I think we will be okay. We will not have as much as we had before but it will be okay,” Dangote said.