Exxon Mobil’s Nigeria asset sale hits regulatory hurdle

Nigeria’s petroleum regulator said on Tuesday it stood by its refusal to approve Exxon Mobil’s $1.28 billion sale of shares in its Nigerian unit to Seplat (SEPLAT.LG) after President Muhammadu Buhari approved the transaction. Nigerian Upstream Petroleum Regulatory Commission (NUPRC) head, Gbenga Komolafe, said under a new petroleum law passed last year, the petroleum minister […]

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China watchdog investigates three more execs linked to chip-focused Big Fund

China’s corruption watchdog said on Tuesday regulators were investigating three former and current executives linked to a firm that manages the country’s largest state-backed chip investment fund, widening a probe that has rattled the sector. Du Yang, a former director of investment firm Sino IC Capital and Yang Zhengfan, a current deputy manager, are suspected […]

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South Korea to probe app store operators over suspected in-app payment violations

South Korea’s telecommunications regulator said on Tuesday it plans to launch an investigation into app store operators such as Apple Inc (AAPL.O), Alphabet’s Google and One Store over suspected violations of in-app payment law. Potential fines for infractions could be as high as 2% of the average annual revenue from related business practices, the law […]

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