Connect with us

Business

Angola’s state oil company to investigate Isabel Dos Santos for fraud

Published

on

Angola’s state oil company (Sonagol) has announced an investigation into “possible misappropriation” of funds by Isabel dos Santos, the daughter of the former president, during her time as the company’s chief executive.

“We have established an internal commission of inquiry to investigate the information published,” Sonangol spokesman Mateus Benza said on Tuesday.

“We are verifying possible misappropriation, but I can’t yet confirm anything.”

Appointed head of Sonangol by her father Jose Eduardo dos Santos in 2016, dos Santos was replaced last month by Angola’s new president Joao Lourenco.

In recent weeks, several Angolan media outfits have accused dos Santos of ordering suspect transfers and payments worth tens of millions of dollars.

According to the Novo Jornal and the Jornal Economico, the new leadership at Sonangol had identified a suspect transfer of 57 million euros ($67 million) to Dubai.

Investigators are also probing a monthly payment that began when Isabel became the head of the state oil giant of 10 million euros to a Portuguese company in which she was the principal investor.

It was reported that the new head of Sonangol has written to his predecessor to demand explanations as well as alerting law enforcement agencies.

Prosecutors in the capital Luanda said on Tuesday evening that they had not received a formal complaint.

Isabel has flatly denied any misconduct and instead alleged that there is a ‘campaign of defamation’ going on against her.

In a statement denying the allegations, Dos Santos noted that ‘no clarification on these matters was ever requested from the previous Administration, and therefore, it can not be at fault with the provision of any information.’ and that ‘the previous team was always available to clarify any doubts that might arise regarding their management.’

The new Angolan president Joao Lourenco has been championing reforms since he took office in August, firing over 60 government officials including Isabel Dos Santos. He is tasked with diversifying the oil dependent Angolan economy and tackling corruption that was fuelled by nepotism during the years of Eduardo Dos Santos.

24 Hours Across Africa

Apple unveils new iPhone 11 with a triple-camera

Published

on

Apple Inc (AAPL.O) caught up with hardware rivals on Tuesday by revealing a triple-camera iPhone, and it rolled out a streaming TV service priced at $5 a month, undercutting Disney and Netflix.

The announcements came at the company’s biggest marketing event, where it unveils its top products for the year ahead, and showcased an aggressive Apple ready to battle on price.

The long-awaited Apple TV+ streaming television service will be available in over 100 countries, starting in November. The service will not be available in China when it launches, nor will the Apple Arcade video game subscription.

Buyers of an iPhone, iPad or Mac will get a free year of streaming TV, potentially drawing hundreds of millions of viewers to the service. That catapults the new service into a rarified group of companies.

“I think the pricing on the Apple TV service was definitely a positive surprise,” said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. “That’s why you’re seeing the hammering in some of the other video service-related names like Netflix, Amazon and Roku. Clearly, that was a positive that people were happy to hear.”

There was no bundle with Apple Music or other services as some analysts had expected. But Ben Bajarin, an analyst with Creative Strategies, said the TV service, a $5 a month “Arcade” gaming service and the base model iPhone 11, seem designed to draw in users for the longer term.

“We weren’t expecting Apple Arcade and particularly Apple TV to be priced as aggressively as they were,” Bajarin said. “They know once consumers get into their ecosystem, they don’t leave.”

Apple said its new iPhone 11 will come with two back cameras, including an ultra wide-angle lens and the next generation of microchips, the A13. Prices start at $699, down from last year’s new iPhone that started at $749.

The more expensive iPhone 11 Pro will have three cameras on the back – wide angle, telephoto and ultra-wide. It can create videos with all three back cameras and the front camera at the same time and starts at $999. The iPhone 11 Pro Max with a bigger screen starts at $1,099. The new phones are available to order Friday and will start shipping Sept. 20.

Rivals including Huawei Technologies Co Ltd and Samsung Electronics Co Ltd (005930.KS) already sell phones with three cameras on the back. While Apple once tested the upper limits of what consumers would pay for a phone, it is now giving ground on prices, even making older models available at significant discounts to the latest technology.

“Consumers absolutely still care about cameras. That’s why it was surprising over the last couple of years that Samsung and Huawei got the jump on Apple,” said Patrick Moorhead, an analyst with Moor Insights & Strategy. “Apple was playing a bit of catch up, but Apple did bring their game, particularly on the video side of the camera, where I do think they’ll have the leg up.”

Analysts expect Apple will sell around 200 million iPhones in the next year, in addition to other devices, and while many of those will be in China, it ensures at least tens of millions of potential viewers for the subscription service.

Hal Eddins, chief economist for Apple shareholder Capital Investment Counsel, said Apple’s lower priced iPhones “aren’t exciting on the surface, but the low streaming price may suck in some new subscribers.” Apple shares gained 0.8%.

Continue Reading

24 Hours Across Africa

Oando has announced the discovery of Gas in Niger Delta

Published

on

Oando plc through its molecule subsidiary oando energy resources (OER) on wednesday said it has made a correlation gas and quantum discovery in its fields in the Niger delta

A disclosure sent to the Nigerian Stock Exchange said the project is a joint venture arrangement among the Nigerian National Petroleum Corporation (NNPC).

Details showed that the NNPC owns 60 per cent stake in the project, while Oando and NAOC, the operator controls 20 percent each.

The discoveries were made in the deeper sequences of the Obiafu-Obrikom fields, in OML61, onshore Niger Delta, the oil firm said.

The Obiafu-41 Deep appraisal/exploration well has reached a total depth of 4.374m encountering an important gas and condensate accumulation within the deltaic sequence of Oligocene age comprising more than 130m of high quality hydrocarbonbearing sands, it said.

The company added that the find amounts to about 1 trillion cubic feet of gas and 60 million barrels of associated condensate in the deep drilled sequences.

The discovery is part of a drilling campaign planned by the Joint Venture aimed at exploring near-field and deep pool opportunities as immediate time to market opportunities.

@ Anttention Fresh,                
We work hard to ensure that any news brought to you is legitimate and valuable so we leave out the noise. This material, and other digital content on this website, may be reproduced, published, broadcast, rewritten or redistributed in whole or in part BUT give us credit as your source. 

DOWNLOAD ANTTENTION FRESH NEWS ON THE GO APP
JOIN AN ONLINE LEARNING COMMUNITY CLICK IMAGEonline training

Continue Reading

Facebook

Advertisement
Flag Counter
Advertisement

Trending

Copyright © 2018 Anttention Media. All rights reserved