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Tag Archives: company

Telecom giant MTN posts first ever loss

Johannesburg, South Africa | AFP |  South African telecoms giant MTN said Thursday that it made a $200 million loss in 2016 — the company’s first — after suffering a huge fine in Nigeria and currency challenges in key markets. “MTN Group’s financial results for 2016 reflect the most challenging …

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Toshiba shares dive as questions swirl over huge losses

Tokyo, Japan | AFP | Toshiba shares plunged again Wednesday as it warned of a $6.2 billion writedown in its US nuclear power business and announced a probe into possible wrongdoing by the unit’s senior executives. One of Japan’s best-known firms, Toshiba shocked investors Tuesday when it failed to report …

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Dos Santos daughter cleared to head Angola oil giant

Luanda, Angola | AFP |  Angolan President Jose Eduardo dos Santos’s daughter, reportedly Africa’s richest woman, has been cleared to head the national oil company Sonangol, after a court rejected a legal challenge. Isabel dos Santos was put in charge of Sonangol in June in a move some analysts said …

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Ratan Tata back in hot seat as Indian giant dumps Mistry

Mumbai, India | AFP | Industrialist Ratan Tata sensationally returned to the helm of India’s biggest conglomerate on Monday as Tata Sons dumped Cyrus Mistry as chairman in a shock announcement that stunned analysts. The 78-year-old takes interim charge of the sprawling $100 billion tea-to-steel group almost four years after …

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Ericsson to end manufacturing in Sweden, cut 3,000 jobs

Stockholm, Sweden | AFP |  Telecoms equipment maker Ericsson plans to end manufacturing in Sweden with the loss of around 3,000 jobs, Swedish newspaper Svenska Dagbladet reported late Wednesday. The daily said it had obtained “confidential documents” outlining a three billion kronor (313-million-euro, $350-million) cost-cutting programme. According to Svenska Dagbladet, …

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Safaricom is ninth most innovative company

By Priscilla Muhairwe Safaricom features among the most innovative companies in the world in 2013 listing as number 9. Its innovations starting with M-pesa a mobile money service, which was launched In April 2007, following a student software development project from Kenya, their innovative thinking and clever product implementation which strives …

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