Posts

Support Infographics Daily News Dotcom

Podcasts.

Journals

Oil prices briefly rise, stocks slide on Iran blasts

-
Image
Oil prices briefly surged and stock markets slid Friday on reports Israel had carried out retaliatory strikes against Iran. Iran’s state media reported explosions in the central province of Isfahan on Friday, as US media quoted officials saying Israel had carried out retaliatory strikes against its arch-rival. “Asian markets bore the brunt of the breaking news of a retaliatory attack on Iran by Israel, also sending Dow futures sharply lower and resulting in further spikes in gold and oil prices,” noted Richard Hunter, head of markets at Interactive Investor. “US markets will not have the opportunity to react directly to the developments until later, but the escalation will put pressure on the main indices, which were already lining up for a weekly drop.” Crude oil prices dropped, having briefly surged as much as four percent on worries about supplies from the oil-rich region. The rush for safety also saw the yen rally against the dollar and gold jump back past $2,400 per ounce, while t
Post a Comment
Read more

Alleged N80bn Fraud: IG withdraws policemen attached to Yahaya Bello

-
Image
Yahaya Bello The Inspector General of Police, Olukayode Egbetokun, has withdrawn all police officers attached to the former Governor of Kogi State, Yahaya Bello. The order for the withdrawal is contained in a police wireless document with reference number: “CB:4001/DOPS/PMF/FHQ/ABJ/VOL.48/ 34 which reads in part, “IG has ordered the withdrawal of all policemen attached to His Excellency and former Executive Governor of Kogi State, Alhaji Yahaya Bello. “Acknowledge compliance and treat with utmost importance. Please, above, for your information and strict compliance.” The Nigerian Immigration Service also placed the former governor on its watchlist, after the Economic and Financial Crimes Commission (EFCC), declared him wanted in connection to an alleged case of money laundering to the tune of N80.2bn. The NIS circular dated April 18, 2024, was signed by Assistant Comptroller of Immigration, DS Umar, for the Comptroller-General, Kemi Nandap. The service detailed the former go
Post a Comment
Read more

All you need to understand about cloud seeding, responsible for the downpour in Dubai.

-
Image
                                                     Image Courtesy - Max Avans Unusual rainstorm has swept across the United Arab Emirates, flooding roads, homes, and even Dubai International Airport’s runway. Cloud seeding is being cited as the cause of this phenomenon. Within a span of just 12 hours, the desert city received a year’s worth of rain, with over 5.59 inches (142mm) soaking the landscape by the end of Tuesday. This downpour far exceeds the average yearly rainfall of 3.73 inches (86mm). Described by the state-run WAM news agency as a “historic weather event,” this rainfall surpasses any recorded since data collection began in 1949. Experts are speculating that this extraordinary downpour might be linked, at least partially, to “cloud seeding.” But what exactly is cloud seeding? Cloud Seeding Cloud seeding is a weather modification technique aimed at enhancing precipitation from clouds. It involves dispersing substances, often silver iodide, potassium iodide, or liquid pro
Post a Comment
Read more

Portable Seeks EFCC's Forgiveness For Spraying Money

-
Image
  Street-pop artiste Habeeb Okikiola, widely known as Portable, has made an appeal to the Economic and Financial Crimes Commission (EFCC), asking for forgiveness for his act of spraying money on his fans. This plea comes in the wake of crossdresser Idris Okuneye, aka Bobrisky, receiving a six-month jail term for a currency-related offense. Likewise, it follows the EFCC filing a three-count charge against Cubana Chief Priest, a nightlife promoter, for alleged misuse of Nigerian currency. During an Instagram live session on Tuesday, Portable urged his fans to open bank accounts, stating his intention to only make transfers in the future. He clarified that he did not deface the Naira and emphasized his assistance to many people. He appealed to the government for forgiveness, expressing his decision to cease the act of spraying money. Additionally, he encouraged his fans to embrace electronic transactions for financial dealings. The EFCC has disclosed ongoing investigations into several ce
Post a Comment
Read more

NCAA Orders Private Jet Permits’ Reevaluation Within 72 Hours, Suspends 3 Operators

-
Image
                                         Image Credit - Luis Cont The Nigerian Civil Aviation Authority (NCAA) has halted the permit of three private jet operators for engaging in commercial flights. The Acting Director General of the NCAA, Chris Najomo, announced the suspension of the three private operators in a riot act read to all airlines on Tuesday. The NCAA boss said the Minister Aviation and Aerospace Development, Festus Keyamo, gave  instructions  for the cessation of the use of private jets for commercial purposes in 2023 but the operators continued in such act. “Subsequently, in March 2024, the NCAA had issued a stern warning to holders of the permit for non commercial flights, PNCF, against engaging in the carriage of passenger cargo or mail for hire and reward,” Najomo stated. “The Authority had also deployed its officials to monitor activities of private jets at terminals across the airports in Nigeria. “As a consequence of this heightened surveillance, no fewer than thr
Post a Comment
Read more

Israel pledges response to Iran strikes as allies push restraint

-
Image
  Israel’s armed forces chief has vowed to respond to Iran’s unprecedented attack against the country, even after appeals for restraint poured in from world leaders fearing wider regional conflict. During six months of war between Israel and Iran-backed militant group Hamas in Gaza, Iran’s proxies around the region have stepped up attacks on Israel and its allies, saying they are acting in support of Palestinians in Gaza. Tensions were already high before Iran launched its first-ever assault on Israeli territory, firing hundreds of missiles and drones in retaliation for a deadly April 1 strike on the Iranian consulate in Damascus. “This launch of so many (Iranian) missiles, cruise missiles, and UAVs into the territory of the State of Israel will be met with a response,” Israeli armed forces chief Lieutenant General Herzi Halevi said Monday, addressing troops at the Nevatim airbase, which was hit in Iran’s Saturday night barrage. The Israeli army has said the vast majority of the weapon
Post a Comment
Read more

Nigeria’s inflation rate hits 33.20% despite naira rebound

-
Image
         Image Courtesy - Omotayo Tajudeen In spite of Naira’s snap back, Nigeria’s inflation rate jumped to 33.20% in March 2024 compared to February 2024 headline inflation rate which was 31.70%. This was according to the National Bureau of Statistics (NBS)’s Consumer Price Index (CPI) report released on Monday. “Looking at the movement, the March 2024 headline inflation rate showed an increase of 1.50% points when compared to the February 2024 headline inflation rate,” said the NBS. “On a year-on-year basis, the headline inflation rate was 11.16% points higher compared to the rate recorded in March 2023, which was 22.04%. “On a month-on-month basis, the headline inflation rate in March 2024 was 3.02%, which was 0.10% lower than the rate recorded in February 2024 (3.12%). This means that in the month of March 2024, the rate of increase in the average price level is less than the rate of increase in the average price level in February 2024.” The inflation report by the NBS followed th
Post a Comment
Read more