Electron Native: Web designer urges business owners to create websi...

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Electron Native: Web designer urges business owners to create websi...: A web designer,  Abiodun Oluwatosin,   said on Friday that creating website address for a Small and Medium Enterprises (SMEs) can serve as...

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SportPesa Ends Operations In Kenya

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Kenyan online betting firm SportPesa on Saturday says it will be halting operations due to a drastic hike in taxes on betting stakes.   Sports betting Source: BettingShamnam Online sports betting companies such as SportPesa have grown rapidly in the East African nation in recent years, riding a wave of enthusiasm for sports, with the government saying the gaming industry achieved a combined revenue of 204 billion shillings (2 billion U.S. dollar) last year. That sparked government concern about the social impact of betting, and in May Kenya introduced new gambling regulations, including a ban on advertising outdoors and on social media. This week, parliament voted an amended proposal raising the excise duty proposed in the 2019/20 (July-June) budget on the amount wagered at the time a bet is placed on all betting platforms to 20% from an initial 10percent. SportPesa says it is “disappointed” by the move and that it would s...
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OPEC Cut Global Forecast For 2020

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OPEC has cut its forecast for growth in world oil demand in 2020 due to an economic slowdown. This outlook the group says highlighted the need for ongoing efforts to prevent a new glut of crude.   OPEC Building Source : Reuters In its monthly report, the Organization of the Petroleum Exporting Countries says oil demand worldwide would expand by 1.08 million barrels (bpd)per day. This is 60,000 bpd less than previously estimated, and indicated the market would be in surplus. The weaker outlook amid a U.S.- China trade war and Brexit could press the case for OPEC and its allies to maintain or adjust their policy of cutting output. Iraq said ministers would on Thursday discuss whether deeper cuts were needed. OPEC, in the report, lowered its forecast for world economic growth in 2020 to 3.1% from 3.2% and said next year’s increase in oil demand would be outpaced by “strong growth” in supply from rival producers such as the United...
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CBN Releases New Guideline For Electronic Payments, Collections

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The Central Bank of Nigeria (CBN) has new guidelines for electronic payments and collections for public and private sectors in the country. The regulation is a revision of the Guidelines on Electronic Payment of Salaries, Pensions, Suppliers and Taxes in Nigeria (2014). The CBN, in the regulation, introduced a penalty of two million for Deposit Money Banks (DMBs) on third party e-payment solution not approved by it on every repeated occurrence. It also introduced penalty of One million naira for Other Financial Institutions (OFIs) on third party e-payment solution not endorsed by the apex bank. The apex bank states on its website that the regulation is intended to guide the end-to-end electronic payment of salaries, pensions and other remittances, suppliers and revenue collections in Nigeria. Governor-Central-Bank-of-Nigeria-CBN-Godwin-Emefiele-right-Deputy-Governor-Financial-System-Stability-Mrs.-Aishah-Ahmad-and-her-Operations-counterpart...
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