Pact

Air conditioner units sit in windows of an apartment building on July 20th, 2022, in Washington, DC. | Photo by Anna Moneymaker / Getty Images The Senate finally voted to ratify the landmark Kigali Amendment to the Montreal Protocol, which commits the US to quickly phase down the use of a certain class of refrigerants that also happens to be a super greenhouse gas. Specifically, the Kigali Amendment pushes developed countries to slash the use of hydrofluorocarbons (HFCs) — found in air…

The Nigerian government says it has high hopes the Dangote Refinery will help solve its petroleum importation challenge. And it hopes for more: amid fears of oil glut as nations move to cleaner energy, Nigeria will still be able to sell to the privately-owned refiner for at least 20 years. To do this, the government has locked down a right-of-first-refusal agreement with the company, with Nigeria owning 20 per cent of the firm. The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited,…

Fidelity Bank has agreed to take over the United Kingdom unit of Nigeria’s second oldest lender, Union Bank, the former said Tuesday. It is the latest phase in the train of divestments by the latter which, beginning late last year, saw Union Bank offload 90 per cent of its shareholding to a new owner, Titan Trust. Fidelity Bank will be acquiring Union Bank UK 100 per cent if the deal goes through, according to a binding agreement between the two, published by the Nigerian Exchange, seen by PREMIUM TIMES. More…

Singapore has announced plans to work with Google Cloud to drive the country's research and competencies in artificial intelligence (AI). Both sides also will work on issues pertaining to AI governance and ethics. The pact between Smart Nation and Digital Government Group's (SNDGG) National AI Office and Google Cloud is pitched as the Singapore government's first private-sector AI partnership with a global technology vendor. The agreement comprises three areas in which the two partners will collaborate, spanning research…

WASHINGTON—The U.S. announced Wednesday that it and Taiwan will start negotiations for a bilateral trade and investment initiative this fall to deepen ties on a range of issues including technology and agriculture. The new pact will also address ways to respond to “distortive practices of state-owned enterprises and nonmarket policies and practices,” the U.S. Trade Representative’s office said, in a clear reference to China’s policies without naming the country. Details of the bilateral initiative follow the initial…

Qualcomm and GlobalFoundries signed an agreement to more than double their existing long-term manufacturing agreement for chips used in 5G transceivers, Wi-Fi, automotive and Internet of Things (IoT) connectivity. Under a multi-billion dollar revenue agreement, the chips will be produced in GlobalFoundries' factories in the United States, Germany, Singapore and France. The companies are committed to supporting US-based manufacturing by expanding capacity at GlobalFoundries' most advanced semiconductor manufacturing…

Republicans blocked a bill on Wednesday that many saw as a bipartisan slam dunk, which aimed to expand certain benefits for veterans due to toxic exposure they experienced while deployed, leaving many veterans and their supporters shocked. The PACT Act, a bill that would have expanded the Department of Veterans Affairs health care to presume veterans whose military service included exposure to burn pits— large trenches dug to burn and dispose of sewage, medical waste and other trash— to be victims of exposure to toxic…

Five technology giants including Twitter and Facebook have pledged to self-regulate and adhere to a new voluntary code of practice in New Zealand that aims to curb harmful online content. The move, however, has been dismissed as "window dressing" and an attempt to preempt regulation. Google, Meta, TikTok, Amazon, and Twitter agreed to sign up for the Aotearoa New Zealand Code of Practice for Online Safety and Harms, which "obligates" tech companies to "actively reduce harmful content" on their respective digital platforms…

GameStop's stock rallied on Friday after a report that the videogame retailer plans to expand its non-fungible tokens (NFTs) marketplace and partner with crypto firms.The company's shares soared last year as it was at the centre of a battle between small investors coordinating on online forums and Wall Street hedge funds that had taken short positions. Since mid-November, its stock has mostly declined.On Friday, GameStop jumped 7.3 percent to $140.62 (roughly Rs. 10,440) after reports late on Thursday that the company…

Chinese tech giants including Tencent Holdings and Ant Group have signed a pact to stop the secondary trading of digital collectibles and "self-regulate" their activities in the market, Chinese state media reported on Thursday. The companies were among 30 firms and institutes that have agreed to the "Digital Collectible Industry Self-Discipline Development Initiative" in which they will help prevent secondary trading and speculation in digital collectibles, according to a report by the Shanghai Securities News. The…