World Bank approves $486m for Nigeria’s electricity grid improvements

The World Bank Thursday approved an International Development Association (IDA) credit and an IDA scale-up facility credit in the tune of $486 million for the rehabilitation and upgrading of Nigeria’s electricity transmission substations and lines. The investments, which are under the Nigeria Electricity Transmission Project, would increase power transfer capacity of the transmission network and […]

Beijing kills Viacom’s $1bn movie-funding deal

Viacom’s Paramount Pictures said a $1 billion movie funding deal with China’s Huahua Media has been scrapped after Beijing tightened foreign investment policies. It’s the latest Hollywood-China tie-up to unravel due to regulatory pressure, following Wanda Group’s abandonment of a deal to buy production company Dick Clark Productions for $1 billion earlier this year. Under an agreement announced […]