Suez Canal blocked by traffic jam after massive container ship runs aground
One of the largest container ships in the world has been partially refloated after it ran aground in the Suez canal, causing a huge jam of vessels at either end of the vital international trade artery. The 152-year-old canal ranks as one of the world’s most important shipping lanes that connect the Mediterranean and the Red Sea. The blockage of the Suez Canal by Ever Given, a 200,000-ton ship that became lodged sideways across the waterway since Tuesday, has cost the world about $27 billion. Based on calculations by Lloyd’s List, traffic stopped on either side by the blockage costs more than $9 billion daily. Experts say the accident was probably due in part to strong winds that turned the containers above deck into a vast sail that blew the vessel off course.
Elon Musks says people can now buy Tesla with bitcoin
Barely after a month that the Tesla CEO Elon Musk bought $1.5 billion worth of bitcoin hinting that it would soon start accepting the world’s most popular cryptocurrency as a form of payment, he announced that that it is now possible to buy Tesla vehicles in the U.S. with bitcoin. The company’s electric vehicles typically cost between $37,990 and $124,000 before tax.
British car racing giant McLaren signs 13-year-old Nigerian American karter Ugo Ugochukwu on a long-term
British motor racing team McLaren has signed 13-year-old Nigerian American karter Ugo Ugochukwu on a long-term deal to aid his development through motorsport’s junior categories. According to McLaren “The 13-year-old American has proven to be a revelation, already securing several titles in his young career in the US and Europe, and most recently winning the 2020 FIA OKJ European Championship. Mc Laren further explained that the agreement will provide the team with an option on Ugo’s services in the future, while supporting his development and evolution as he progresses through the junior categories of motorsport. Ugochukwu is the son of former Face of Africa winner Oluchi Onweagba-Orlandi.
Considering inflation, CBN holds benchmark interest rate at 11.5%
The Central Bank of Nigeria (CBN) on Tuesday retained its benchmark interest rate, known as the Monetary Policy Rate (MPR), at 11.5 percent after the two-day Monetary Policy Committee (MPC) meeting in Abuja, citing inflation concerns. The Governor of the Central Bank of Nigeria, Godwin Emefiele said in the last MPC meeting that since the country just crawled out of recession in Q4 202o, if the MPC tightens, it would make it difficult to access credit needed that investment needs to drive growth and the economy could slip back into recession.
Prince Charles launches scheme to get 50 million people in Africa and Southeast Asia access to sustainable drinking water
The Prince of Wales has launched a new initiative aimed at ensuring 50 million people have access to reliable and sustainable water sources by 2030. The Resilient Water Accelerator will bring together governments, the private sector, development banks and agencies to help fast-track finances towards protecting vital water services from climate and health threats. Some six locations, due to be selected by September, will be identified in Africa and South East Asia for the initiative, where new approaches to tackling the issues of pollution, rising “water-stress” and decreasing supplies can be tested. Work on the ground is expected to begin in January next year.
Twitter to introduce ‘undo Tweet’ feature for paid customers via subscription service
Amidst the continuous demands of users to provide an option to edit tweets on Twitter, the social networking site is working on the ‘undo tweet’ feature. Twitter confirmed the feature of the new ‘undo tweet’ and revealed that some paid subscription services are also in the works. Security researcher Jane Manchun Wong on her Twitter handle wrote, “Twitter is working on app subscription for paid features like “Undo Tweet” Wong also shared a gif and showcased how the undo tweets feature on the Twitter subscription service will be working. The ‘undo teets’ feature is different from deleting a tweet. Undo tweets future will enable the Twitter subscription holders to will stop the tweet from being sent out at all. It will also have a timer in form of a progress bar indicating to users how much time they have before they can undo the tweet. However, it has not been revealed how much users will have to spend on this feature or will it be clubbed with other features for which users subscribe.
Wema Bank appoints new executive director
The board of directors of Wema Bank Pls has announced the appointment of Chukwuemeka Obiagwu as an executive director of the bank effective from April 1, 2021. According to a press statement signed by the bank’s company secretary/ legal adviser, Johnson Lebile, the appointment has been approved by the Central Bank of Nigeria. The statement describes Emeka as a multi-disciplinary professional with a background in accounting, insurance, corporate finance, Stockbroking and Public Finance. He has over three decades experience in banking, financial services and the public service.
