International Business

Iran’s OPEC governor Hossein Kazempour-Ardebili has died of a brain hemorrhage two weeks after falling into a coma, the oil ministry said on Saturday.

The African Development Bank Group (www.AfDB.org), has announced a decision by its Sanctions Appeals Board imposing a 13-month debarment on Entreprise de Travaux et d’Etudes de Projets (ETEP) SA, a civil engineering company registered in Tunisia, for engaging in sanctionable practices.

Finland-based telecommunications equipment company Nokia has come away almost empty-handed in terms of huge 5G contracts awarded by China’s big three telecom carriers.

Remdesivir, the first possible scientifically proven treatment for battling COVID-19, will become available for U.S. hospitals in the coming week, says the CEO of the biotech company producing the drug.

The Saudi Fund for Development (SFD) recently signed an agreement with the Republic of The Gambia to provide a loan to finance the second phase of a development project at the capital’s Banjul International Airport. The improved facilities will see jobs increase to over 1000. The number of passengers will increase by 43%, reaching 400,000 per year.

Wells Fargo, the United States of America’s fourth-largest bank, agreed Friday to pay a $3 billion fine to settle a civil lawsuit and resolve a criminal prosecution filed by the American Justice Department over its fake account scandal.

Frankfurt, Lagos, Riyadh, 19.02.2020 – At the 93rd International Selection Panel in Riyadh, Saudi Arabia, the international jury of the non-governmental organisation Endeavor honoured the two German founders and managing directors of the Nigerian solar energy company Daystar Power as High Impact Entrepreneurs. With this seal of approval and its network, Endeavor, based in New York, honors and supports entrepreneurial …

The brother of Asia’s richest man was ordered to set aside $100 million in his dispute with three Chinese banks, even as he pleaded poverty.

Africa’s economies are growing strongly, but growth alone cannot meet the needs of the continent’s poorest citizens, because “nobody eats GDP,” the African Development Bank’s President, Akinwumi Adesina, said as he unveiled the Bank’s flagship economic report on Thursday.

Jeff Bezos is so rich he can make $13.2 billion (£10b) in just 15 minutes without lifting a finger.