Business
NIGCOMSAT Teams Up with IT Firm for Facility Upgrade
Nigerian Communication Satellite Limited (NIGCOMSAT) is set to enhance its service delivery by upgrading its technology to cutting-edge standards, in partnership with Dimension Data, a leading IT solutions provider.
According to a press release on Monday, the Managing Director of NIGCOMSAT, Mrs. Jane Egerton-Idehen, expressed confidence in the upgrade, stating, “We have upgraded our facility to cutting-edge technology, and we are confident that we can compete favorably in the global satellite market.”
The partnership agreement, signed in Lagos on Friday, includes providing internet services to Dimension Data on NIGCOMSAT’s NigComSat-1R network platform for an initial period of one year. This move is part of NIGCOMSAT’s strategic efforts to establish itself as a major player in the satellite industry.
Egerton-Idehen highlighted the success of a pilot scheme with Dimension Data, leading to the signing of a Master Service Agreement. “We are glad that Dimension Data is happy with the results of our pilot, and we are committed to ensuring that our service delivery is excellent, our infrastructure reliable, and our technology continuous,” she added.
The Country Director of Dimension Data, Mr. Olugbenga Olabiyi, expressed optimism about the partnership, emphasizing his company’s focus on creating unique and bespoke IT solutions for its customers.
This upgrade and partnership align with the Nigerian government’s initiatives to promote digital transformation and inclusion in the economy. The Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, has been leading efforts to expand connectivity and promote digital inclusion.
Egerton-Idehen concluded, “We are not late to the market, and we are committed to taking our rightful position in the global satellite industry.” With this upgraded technology and strategic partnership, NIGCOMSAT is poised to play a significant role in achieving the government’s digital economy objectives.
Business
Iceland Demands Supermarket Rivals Stop Selling Prawn Rings
Supermarket chain Iceland has filed a trademark application for its well-known “King Prawn Rings,” urging rival supermarkets to stop selling similar products. Iceland, headquartered in Flintshire, claims it has faced increasing imitation since introducing its prawn rings in 1991.
In a bold open letter shared on social media platform X (formerly Twitter), Iceland called out major competitors Aldi, Tesco, Lidl, and Asda, accusing them of selling “copy crustaceans.” The letter cheekily asserted, “The King Prawn Ring is ours, and we won’t be letting you off the hook.”
Lidl humorously responded, “Here was us thinking it was a classic 1970s party dish.”
Iceland’s letter, signed by “Iceland Foods,” warned other retailers to cease selling prawn rings, especially ahead of Christmas. The chain emphasized its intent to pursue legal action if competitors don’t comply, declaring, “Our lawyers are more than ready to dive into legal waters.”
The prawn ring battle has sparked social media buzz, with consumers eagerly watching how rival supermarkets will respond to Iceland’s trademark claim.
Business
Boeing Workers Reject Latest Pay Offer Despite 30% Rise, Union Says
The union representing striking Boeing workers has stated that its members are not interested in the company’s latest pay proposal, which includes a 30% raise over four years. According to the International Association of Machinists and Aerospace Workers (IAM), a survey revealed overwhelming dissatisfaction with the offer, labeling it as “inadequate.”
This rejection follows Boeing’s new “best and final” offer, which also included a performance bonus reinstatement, improved retirement benefits, and a one-time $6,000 signing bonus. The company set a deadline for the deal to be ratified by union members by midnight on September 27.
However, IAM criticized Boeing for sending the offer directly to workers and the media without consulting union leaders and stated that the time frame was insufficient to organize a proper vote. Boeing has denied the union’s claims and said it would allow more time and provide support to facilitate the vote.
Business
China Unveils Bold Measures to Revive Economy Amid Growth Concerns
China’s central bank, the People’s Bank of China (PBOC), has launched a significant package of measures aimed at revitalizing its struggling economy. PBOC Governor Pan Gongsheng announced plans to lower borrowing costs and allow banks to expand lending to stimulate economic activity.
With recent economic data raising concerns that China may miss its 5% growth target this year, the central bank will cut the reserve requirement ratio (RRR)—the amount of cash banks must hold in reserve—by half a percentage point, releasing around 1 trillion yuan ($142 billion) into the economy. Additional cuts may follow later in the year.
The package also addresses China’s property market crisis by cutting interest rates for existing mortgages and reducing minimum down payments for all homes to 15%.
Asian stock markets responded positively to the news, seeing a boost after Mr. Pan’s announcement, which came during a rare joint press conference with officials from two other financial regulators.
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