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    Nnamdi Kanu moved from DSS custody to Sokoto prison – Aloy Ejimakor

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    Senate Confirms Retired Chief of Defence Staff as Defence Minister

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    Cadbury Nigeria Plc Announces Retirement of Managing Director and Appointment of Interim MD

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    FG Closes 41 Unity Schools Amid Bandit Attacks

    FG Closes 41 Unity Schools Amid Bandit Attacks

    Nnamdi Kanu moved from DSS custody to Sokoto prison – Aloy Ejimakor

    Nnamdi Kanu moved from DSS custody to Sokoto prison – Aloy Ejimakor

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    Eterna Plc proposes Rights Issue at ₦22. 00 per share

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    Nnamdi Kanu moved from DSS custody to Sokoto prison – Aloy Ejimakor

    Federal High Court fixes December 8 to hear Nnamdi Kanu’s transfer request from Sokoto prison

    Senate Confirms Retired Chief of Defence Staff as Defence Minister

    Senate Confirms Retired Chief of Defence Staff as Defence Minister

    Abubakar Badaru resigns as minister of defence

    Abubakar Badaru resigns as minister of defence

    Cadbury Nigeria Plc Announces Retirement of Managing Director and Appointment of Interim MD

    Cadbury Nigeria Plc Announces Retirement of Managing Director and Appointment of Interim MD

    Policeman kill driver over N100 bribe in Anambra

    President Tinubu Pulls Police from VIPs, Approves 30,000 New Officers

    FG Closes 41 Unity Schools Amid Bandit Attacks

    FG Closes 41 Unity Schools Amid Bandit Attacks

    Nnamdi Kanu moved from DSS custody to Sokoto prison – Aloy Ejimakor

    Nnamdi Kanu moved from DSS custody to Sokoto prison – Aloy Ejimakor

    Gunmen abduct unidentified man in Anambra state

    Gunmen Storm St. Mary’s Catholic School Niger State, Abduct Unknown Number of Pupils and Teachers

    Nnamdi Kanu Lists Wike, Hope, Sanwo Olu and others as Witnesses in Terrorism Trial

    Federal High Court sentences Nnamdi Kanu to Life imprisonment

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    All diaspora remittances must be received by beneficiaries in foreign currency only – CBN

    CBN Rolls Out New Cash Rules, Sets Fresh Withdrawal Limits for 2026

    Nigeria Wins €185.7m Arbitration on Ajaokuta Steel Contract

    Nigeria Wins €185.7m Arbitration on Ajaokuta Steel Contract

    Headline Inflation in Nigeria rose to 22.04% in March

    Nigeria’s inflation eases to 16.05% in October 2025

    President Buhari hikes Petrol Price to N212 per litre through the PPPRA

    Federal Government suspends 15% import tax on imported petrol

    Nigeria Imposes 10% Tax on Short-Term Investment Interest

    Nigeria Imposes 10% Tax on Short-Term Investment Interest

    Nestlé Cuts 16,000 Jobs in a Major Restructuring; Stock Rises Nearly 8%

    Nestlé Cuts 16,000 Jobs in a Major Restructuring; Stock Rises Nearly 8%

    China Warns Against NATO Tariffs After Trump’s Suggestion to Target Chinese Imports

    Trump warns of trade cuts with China over soybeans

    The New Tax Acts and Tax ID – What You Need to Know

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    CBN Tightens Agent Banking Operations, Introduces Transaction Limits

    CBN Tightens Agent Banking Operations, Introduces Transaction Limits

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    • Economic Data
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    Lasaco Assurance Plc announces delay in share reconstruction

    Lasaco Assurance Plans Major Capital Raise — Shareholders to Decide on December 9

    Airtel Africa  Announces Total Voting Rights

    Airtel Africa Announces Total Voting Rights

    NNPC releases retail prices of Dangote petrol nationwide,  says it bought at $0.52/L

    NNPCL Posts ₦5.07tn Revenue, ₦447bn Profit Even as Production Hits 10-Month Low

    Ekiti State Government sales stake in Wema Bank Plc

    First HoldCo Completes 100% Sale of FBNQuest Merchant Bank to EverQuest

    Eterna Plc proposes Rights Issue at ₦22. 00 per share

    Eterna Plc proposes Rights Issue at ₦22. 00 per share

    Cadbury Nigeria Plc Announces Retirement of Managing Director and Appointment of Interim MD

    Cadbury Nigeria Plc Announces Retirement of Managing Director and Appointment of Interim MD

    Delisting of Access Bank Plc and listing of Access Holdings Plc

    Access Holdings Announces Extraordinary General Meeting to Approve ₦40bn Private Placement

    Presco Plc Clarifies Secure Land Rights for Ologbo Estate After False Revocation Report

    Presco Plc Clarifies Secure Land Rights for Ologbo Estate After False Revocation Report

    FY 2020: Fidelity Bank Plc reports decline in both gross earnings and profit

    Fidelity Bank Plc Gross Earnings Cross ₦1.1 Trillion, Profit drops to ₦211.7bn in Q3 2025

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    CEO of Ecobank Group to retire, new CEO announced

    Ecobank Lists Additional 5.3 Billion Ordinary Shares on NGX

    Greif Nigeria Plc nears final stage of its voluntary liquidation process

    Greif Nigeria Plc Completes Liquidation, Shareholders Receive Final ₦9 Per Share Payout

    Again DMO offers N360 billion FGN bond for February

    FGN Opens Subscription for December 2025 Savings Bonds at 13.538% and 14.538%

    Fidson Healthcare Announces N21 Billion Rights Issue to Boost Capital Base

    Fidson Healthcare Announces N21 Billion Rights Issue to Boost Capital Base

    Silver and other Precious Metals Surges amid Economic concerns

    Silver and other Precious Metals Surges amid Economic concerns

    MTN Nigeria to pay over N200 billion final dividend for 2022

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    Nigerian Exchange Daily Market Report: ASI up by 0.15% on Wednesday

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    Wema Bank Plc rights issue opens for subscription

    Wema Bank Plc lists 4.5 billion new shares offered through private placement

    FG lists 4 border points in Ukraine Nigerians can cross to safety

    Trans-Nationwide Express Rights Issue: Trading Activated on NGX

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    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

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TikTok owner to suffer $6 billion loss from India Apps ban

59 Chinese apps including the popular video sharing app TikTok were banned in India

Thursday, 2 July 2020, 6:50 pm
in Business, Companies
0
TikTok owner to suffer $6 billion loss from India Apps ban
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Following the weeks-long territorial dispute on the China-India shared border in the Himalayas, which resulted in the death of 20 Indians troops, there have been calls for the boycott of Chinese goods and Apps in the country.

China gave no details on whether there were any Chinese casualties. But now China is quickly finding out the cost of clashing with one of its major trading partners.

On Monday, 59 Chinese apps including the popular video sharing app TikTok were banned in India by the government. Others include WeChat, Weibo, Clean Master – Cheetah mobile, Cam Scanner etc.

The government in Delhi said the apps were “prejudicial to sovereignty and integrity of India, defence of India, security of state and public order”

TikTok has been taken down from Apple App store and also Google Play store. Although, users who have already downloaded TikTok app can still use the it, but officially the platform is now banned in the country.

India is TikTok’s largest market outside China. TikTok has over 120 million active users in India.

According to local Chinese media, Caixin Global an insider at TikTok parent company, Chinese tech unicorn ByteDance Ltd said the ban could come with a heavy price tag as 3 of its apps were banned in India.

The cost of the ban for the company could amount to “more than $6 billion in lost revenue.” This is greater than the sum of all the losses suffered by the other 58 banned apps combined.

  • Have you read?
  • India Challenges China with $6.6 billion Incentive to Companies 
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TikTok’s parent company, ByteDance, told the BBC, it is “committed to working with the Indian government to demonstrate our dedication to user security and our commitment to the country overall.”

Another banned Chinese app in India is feeling a reputational pinch, after losing one of its high profile users following the ban – the Indian Prime Minister Narendra Modi.

Modi has cancelled his official account on Weibo, the Chinese equivalent of Twitter according to Caixin Global.

On Thursday, Modi’s profile picture and 115 posts under the ‘Prime Minister Modi’ VIP account were removed, with the account since deleted at the request of the Indian Embassy in Beijing.

As reported by Caixin Global, “113 posts were deleted manually, while the request for the account to be deleted was being processed by Sina Weibo.

“Prior to the account’s deletion, two images remained on the page, photos of Modi with China’s President Xi, which the Indian side said they could not remove without authorization.”

  • Read more
  • How much the world invested in renewable energy in 2019
  • National Assembly suspends 774,000 recruitment exercise for Nigerians

This isn’t the first time Chinese apps have been banned in India. In 2017, Alibaba’s UC Browser came under scrutiny for allegedly leaking mobile data of Indian users. And that year, India’s defence ministry asked all armed personnel and officers to uninstall 42 Chinese apps it classified as “spyware”, according to media reports.

Written by;

Ifunanya Ikueze

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