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  • Amazon Bans Police Use of Facial Recognition Tech

    Amazon Bans Police Use of Facial Recognition Tech
    2020/06/11
    Technology giant Amazon has banned the police from using its controversial facial recognition software for a year. It comes after civil rights advocates raised concerns about potential racial bias in surveillance technology. IBM also said it would stop offering its facial recognition software for mass surveillance or racial profiling. The decisions follow growing pressure on firms to respond to the death in police custody of George Floyd. Amazon said the suspension of law enforcement use of its Rekognition software was to give US lawmakers the opportunity to enact legislation to regulate how the technology is employed. Amazon in a statement said they have advocated that governments should put in place stronger regulations to govern the ethical use of facial recognition technology, and in recent days, Congress appears ready to take on this challenge. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    3 分
  • South Africa's Business Confidence Hits Record Low

    South Africa's Business Confidence Hits Record Low
    2020/06/11
    According to a survey showed on Wednesday, South Africa’s business confidence hit a record low in the second quarter as a coronavirus-led lockdown stalled an economy that was reeling from a recession even before the COVID-19 pandemic. The Rand Merchant Bank (RMB) business confidence index (BCI), compiled by the Bureau for Economic Research, was at 5 points for the second quarter, the lowest level since the first survey in 1975 and down from 18 points for the first quarter. Africa’s most industrialised economy, which entered its second recession in two years in 2019, has been largely shut down since late March, when the government imposed severe restrictions to stem the spread of the novel coronavirus. RMB chief economist Ettienne le Roux said COVID-19 has drastically changed the already-weak economic landscape and perhaps, in some cases, permanently,” He said the country is only beginning to fully appreciate the complexity of the economic impacts of this pandemic. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    3 分
  • South Africa's Rand Falls After Gloomy Fed Outlook

    South Africa's Rand Falls After Gloomy Fed Outlook
    2020/06/11
    South Africa’s rand slipped on Thursday, tracking emerging markets as bleak economic projections from the U.S. Federal Reserve rattled investors. At 0635 GMT, the rand traded at 16.7100 per dollar, 1.09% weaker than its previous close and giving up gains made on Wednesday when it touched 16.3210, its strongest since March 16. Executive director at Peregrine Treasury Solutions in Pretoria, Bianca Botes said in a note that the gloomy outlook by the Fed brought over optimistic markets back to reality. Fed policymakers projected the U.S. economy to shrink 6.5% this year and the unemployment rate to be 9.3% at year-end. The projections dented hopes that economies would recover more strongly once coronavirus lockdowns are lifted, driving investors away from riskier currencies. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    3 分
  • AfDB Vice-President, Resigns

    AfDB Vice-President, Resigns
    2020/06/11
    The Vice President for Agriculture, Human and Social Development at the African Development Bank, Dr Jennifer Blanke, has resigned her position. The AfDB disclosed this on Wednesday in a statement, saying Blanke’s resignation would take effect July 4, 2020. She was quoted as saying she was leaving purely for family reasons to rejoin her family in Switzerland, after a very fulfilling time at the bank. The President, AfDB, Dr Akinwumi Adesina, said he had been delighted to work with Blanke over the past three and a half years. He added that she has demonstrated genuine leadership skills and moved the needles on so many fronts, especially in the areas of food security, women’s financial empowerment and job creations According to the statement, Blanke joined the bank in early 2017 and has overseen a number of its programmes. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    3 分
  • GCB MD Boast Of G-Money Stands in The Market

    GCB MD Boast Of G-Money Stands in The Market
    2020/06/11
    A comparative analysis of rates between G-Money and the three other mobile money service providers in Ghana show that G-Money currently stands tall with the best Peer to Peer (P2P), Cash Out and Mobile Money Interoperability (MMI) rates on the market. According to the Managing Director of the GCB Bank, Anselm Ray Sowah, G-Money has the lowest P2P rate of 50pesewas which is a flat fee for all transactions below 999.99 cedis. It also charges a flat fee of 1 cedi for transactions worth 1,000 cedis and above, while other competitors charge as much as 10 cedis per transaction. He also stated that, the rationale behind their unbeatable rates is to encourage their customers and all Ghanaians to go cashless with G-money and limit their exposure to bank notes to promote both digital financial inclusion and avoid physical contact in this COVID-19 season. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    3 分
  • Nigeria To Reach OPEC+ Compliance by Mid-July

    Nigeria To Reach OPEC+ Compliance by Mid-July
    2020/06/11
    The head of the Nigerian National Petroleum Corporation Mele Kyari on Wednesday said Nigeria did not fully comply with a pact by oil producers to rein in output to balance markets but will make additional cuts to make up for the lapse by mid-July. Kyari said in an online interview with Dubai-based research firm Gulf Intelligence said Nigeria had exceeded its quota for production cuts under an OPEC+ deal by a little less than 100,000 barrels per day (bpd) in May. He said Africa’s top oil exporter aims to reach full compliance by maximum, middle of July adding that the country will by that point need to cut an additional 40,000-45,000 bpd in order to compensate for its earlier over-production. Kyari said there had been technical challenges to reining in Nigeria’s output but the country was fully committed to the cuts. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    3 分
  • House of Representative Pass 10.8 Trillion Naira Budget to Senate

    House of Representative Pass 10.8 Trillion Naira Budget to Senate
    2020/06/11
    House of Representatives on Wednesday passed a revised 10.8 trillion-naira ($30 billion) budget based on oil prices at $28 per barrel. The budget is 300 billion naira above the one submitted by President Muhammadu Buhari late last month, and increases the expected oil price by $3 per barrel. The government had planned to cut its record 2020 budget due to the coronavirus pandemic and an oil price plunge, but the version passed by the House is above the 10.59 trillion-naira level approved by Buhari in December. The budget also assumes oil production at 1.9 million barrels per day (bpd). Oil prices have recovered from a 20-year low of just under $16 per barrel hit in March, and were trading at $41.65 on Wednesday evening. Senate President Ahmad Lawan said the upper chamber would consider the revised 2020 budget on Thursday, after receiving details of some of the 500 billion-naira COVID-19 intervention fund that is part of the budget. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    3 分
  • Federal Government Procures Boeing 737-NG Flight Simulator

    Federal Government Procures Boeing 737-NG Flight Simulator
    2020/06/11
    The Federal Government has said a modern Boeing 737-NG Full Flight Simulator has arrived in the country and is currently at the seaport undergoing Customs clearance process. The Minister of Aviation, Sen. Hadi Sirika, disclosed this during a television programme, while analysing the strides of Nigeria’s aviation industry in the last five years. The FFS, which is expected to curb capital flight, will be installed at the Nigerian College of Aviation Technology in Zaria, Kaduna State. A simulator for training and retraining is one major hindrance the aviation industry is facing, costing it millions in foreign exchange as pilots had to travel out for recurrence exercises. Sirika stated that the simulator is at the seaport in Lagos for clearance and on its way to Zaria for installation. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    3 分