LIBRARY. The company can dominate additional market shares if Huawei goes out of memory chips. PRIVACY POLICY. SK Kim, executive director at Daiwa Securities explained on CNBC’s “Squawk Box Asia” that the upgrade in the cost structure, transfers to online marketing, considering the coronavirus pandemic and high demand, all helped in strengthening the company’s earnings. Samsung Electronics a multinational conglomerate disclosed that it had an increased profit of 58% from July – September compared to what it had recorded the previous year. The International Monetary Fund “IMF” on Tuesday, April 28 approved $3.4 bn as financial assistance to Nigeria. IS THIS A LOAN OR A GRANT? In addition, the market cap of both gold and bitcoin, 9 trillion dollars, and 117.81 billion dollars respectively, shows that bitcoin still has a lot of potentials. PRINT SUBSCRIPTION. The United States, in particular, has expressed concern, saying the trade and loan agreement between African countries and China is increasing the influence of the Chinese Government in the region. This is a programme that has no condition attached like other IMF programmes. The Financial Support of $3.4 bn obtained by Nigeria from the IMF is a loan. 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The last time Nigeria suffered a recession in 2016, global crude oil prices dropped, resulting in forex reserves also dropping, due to … The flagship smartphones of the company are selling well. Contact for tips: [email protected]. “So I think smartphones, telecom equipment and a bit of semiconductor are the main reasons for the beat,” he said. Square, Inc. (NYSE: SQ) builds tools to empower businesses and individuals to participate in the economy. This is the first time in recent history that Nigeria is obtaining funding support from the IMF. Learn how your comment data is processed. On Thursday its shares sold low at 0.33% following South Korea’s benchmark index of 0.16%. Try searching for the best match or browse the links below: We bring you the stories that perfect for news, finance, politics etc. Chief (Mrs) Teju Phillips is a successful Chartered Accountant who holds an ACCA from England and Wales. Square has offices in the United States, Canada, Japan, Australia, Ireland, Spain, and the UK. This site uses Akismet to reduce spam. And individuals use Cash App to spend, send, store, and invest money. Get the scoops and market intelligence that can helpyou make better investment decisions right in yourmailbox. According to the IMF, African countries must always ensure that the loan arrangement and terms of the agreement favour them.The IMF raised this concern through its Financial Counsellor and Director of the Monetary and … Consumer electronics and appliances are other factors that could have contributed to Samsung’s earnings. APPS. Twitter’s Jack Dorsey on October 8th disclosed it purchased, 4,709 bitcoins at an estimated worth of $50 million. Adrian made the suggestion while speaking at a press conference on the Global Financial Stability Report (GFSR) at the ongoing springs meeting of the World Bank and IMF in Washington DC. Ekene Ojieh, Head of Public Relations and Corporate Strategy at Buffalo Chase, a crypto analytic firm in a note to Nairametrics spoke on the initial skepticism that traditional banks and global financial regulators had on bitcoin, which looks to be changing now, saying: “The last decade has been quite challenging for bitcoin and the crypto space despite the enormous price increase. Olateju Phillips has been appointed to replace Aderinola Disu who stepped down as Board Chairman weeks ago. CAREER. © 2020 TheGistDay - TheGistDayThe GistDay. raised this concern through its Financial Counsellor and Director, explained why China and Nigeria’s trade relations, IMF warns Africa countries of China's loan, Wealth of world’s billionaires hits $10.2 trillion, Thrive Agric: Investors cry foul play over delayed returns, Ripple Whale transfers 20,000,000 XRP to Binance, Facebook unveils F2 for payment and commerce plans, appoints David Marcus to head group. Check our landing page for details. The International Monetary Fund (@IMFNews) has warned Nigeria and other African countries to be wary of the terms and conditions that come with loans/grants from China. Regulators, investors, and mainstream traders were skeptical about bitcoin because of its volatility and how bitcoin works. Why it’s happening; Recall some months ago Nairametrics broke the news that a publicly-traded company based in America, MicroStrategy recently adopted Bitcoin as a treasury reserve asset to hedge against fiat inflation. The International Monetary Fund (IMF) has warned Nigeria and other African countries to be wary of the terms and conditions that come with loans/grants from China. Nigeria’s $3.4billion IMF loan comes with many charges, fees, surcharges and interest of between two to three percent per annum, and further devalues the Naira to N389.976/USD as against CBN’s N360/USD. Square, Inc. (NYSE: SQ) led by Twitter’s Jack Dorsey on October 8th disclosed that it purchased, 4,709 bitcoins at an estimated worth of $50 million. Civil Society Organisations in Nigeria welcome the International Monetary Fund’s (IMF) prompt response to the Federal Government of Nigeria (FGN) request for financial assistance to fight the COVID-19 pandemic and shore up the country’s failing economy by approving a loan … Confirming the funding to be a loan, however, an IMF Representative, Laraba Bonet, while mentioning the conditions, said: The concern is beyond contract terms: There has been concern regarding the business-relationship between African countries and the Chinese Government. Is Loyalty the Problem in Edo Governorship Race? SUPPORT. Square added it invested in cryptos because it saw it as a tool for economic enhancement via participation in the future of payment systems, which aligns with Square’s objectives. CONTACT US. This is a provision the IMF has made for every member country, to apply for between 50 to 100 per cent of their contribution to the IMF. Going by this trajectory, bitcoin is expected to gain more grounds, increase in value, and also be widely used/accepted”, READ: Facebook unveils F2 for payment and commerce plans, appoints David Marcus to head group. Nigeria, IMF and Chinese loans ... flattering light in the lens of the International Monetary Fund (IMF). The IMF loan is not expected to solve all of Nigeria’s problems. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. The company made 12.3 trillion Korean Won in the Quarter higher than 7.78 trillion made the previous year according to the company’s earnings guidance. (READ MORE: Wealth of world’s billionaires hits $10.2 trillion). Between April – June it had about 23% increase in profit. LASACO Assurance Plc has announced to shareholders and the general public of its appointment of Dr. (Mrs) Olateju Phillips, as the new Chairman of its Board of Directors, effective immediately.