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Monday, 04 November 2019
Monday, 04 November 2019 10:44

U.S. opens investigation on TikTok

The U.S. government has launched a national security review of TikTok’s owner ‘Beijing ByteDance Technology Co’s $1 billion acquisition of U.S. social media app Musical.ly’, according to three people familiar with the matter.

While the $1 billion acquisition was completed two years ago, U.S. lawmakers have been calling in recent weeks for a national security probe into TikTok, concerned the Chinese company may be censoring politically sensitive content and raising questions about how it stores personal data.

TikTok has been growing more popular among U.S. teenagers at a time of growing tensions between Washington and Beijing over trade and technology transfers. About 60% of TikTok’s 26.5 million monthly active users in the United States are between the ages of 16 and 24, the company said this year.

The Committee on Foreign Investment in the United States (CFIUS), which reviews deals by foreign acquirers for potential national security risks, has started to review the Musical.ly deal, the sources said. TikTok did not seek clearance from CFIUS when it acquired Musical.ly, they added, which gives the U.S. security panel scope to investigate it now.

Published in Telecoms

China’s National Medical Products Administration has approved a new drug for Alzheimer’s disease, that can improve cognition in patients.

The drug GV-971 hit the market at the weekend.

It was developed by Ocean University of China, Shanghai Institute of Materia Medica under Chinese Academy of Sciences and Green Valley Pharmaceutical Co., Ltd, after research efforts of 22 years.

According to Xinhua, 1,199 persons participated in the three-phase clinical trials.

The 36-week-long Phase 3 clinical study showed that the drug can improve cognition in patients with mild to moderate Alzheimer’s disease, the developers said.

Alzheimer’s disease is an irreversible, progressive brain disorder that slowly destroys memory, thinking ability, and the capability to carry out simple tasks.

The disease affects about 48 million people worldwide, and the number is expected to increase with the agsing population.

Published in World

The Debt Management Office (DMO) will on Monday, November 4, 2019, sell 2-year and 3-year Federal Government Savings Bond in its November 2019 issue.

The savings bond will attract 10.296% per annum for 2-year FGN Savings Bond due November 13, 2021, and 11.296% per annum 3-year FGN Savings Bond due November 13, 2022.

Closing date for the auction is Friday, November 8, 2019. The settlement date is Wednesday, November 13, 2019.

Coupon payment dates are February 13, May 13, August 13, November 13. FGN Savings Bond coupon is the interest on the bond and it is payable quarterly.

FGN Savings Bond can be purchased through stockbrokers appointed as distribution agents with as little as N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50 million.

The bond is a government security that is free of company and personal income tax.

The security is one of the safest ways to invest as it is backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria.

The DMO often issue FGN bond and FGN savings bond once a month. FGN bond requires a minimum of N50 million to invest in it while FGN savings bond only requires a minimum of N5,000.

Published in Bank & Finance

West African leaders on Sunday reiterated their backing for Guinea-Bissau's Aristide Gomes, sacked as prime minister by the country's interim president three weeks ahead of a presidential election.

A delegation of the 15-nation Economic Community of West African States (Ecowas) denounced as illegal President Jose Mario Vaz's sacking last week of Gomes and his internationally backed government.

Vaz had no authority to dismiss the administration or appoint a replacement government because his five-year mandate as president had expired in June, said the Ecowas statement.

At a June 29 meeting in Abuja, Nigeria, Ecowas had agreed that Vaz could stay on until the presidential election due November 24, but leave the government to run the country.


Jean-Claude Brou, president of the Ecowas Commission, warned that anyone who tried to prevent the holding of the election this month faced the possibility of sanctions.




Published in Economy

Chief Government Spokesperson Dora Siliya says Government has paid 40 million Dollars for electricity importation from South Africa.

Ms Siliya says 10 million Dollars was paid last week and a 30 million Dollars was transferred to Eskom on Wednesday this week. 

She disclosed this during the Hot FM Hot seat programme on Thursday. Ms Siliya who is also Minister of Information and Broadcasting Services however has not indicated when the power imports will start flowing into Zambia.

Energy Minister Matthew Nkhuwa announced on 23rd October, 2019 that the power imports will be in after 14 days. 

Zambia has a power deficit of 700 megawatts which has resulted in 15 hour power load shedding management. And Ms. Siliya has revealed that government will give its position on the issue of the Lower Zambezi mining licence soon.

She says Government will soon give its position on the matter regarding the issuance of a mining licence in the lower Zambezi. Ms. Siliya says once internal consultations within Government are concluded, the Minister of Mines and Mineral Development will give the nation an update on the matter.

Ms. Siliya said Government wants to establish and understand the bone of contention and other processes that were undertaken prior to the issuance of the licence before a final decision is made.

She says the matter is receiving active attention and that Government has heard the cries of the citizens whose interests will always be top priority. Ms. Siliya said Government has keenly been following the debate and has taken note of the many concerns citizens and other stakeholders have raised on the matter.


- Lusaka Times

Published in Engineering
  1. Opinions and Analysis


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