A South Korean court has sentenced Samsung Electronics vice chairman Lee Jae-Yeong to two-and-a-half years in prison, the court said. The sentencing will have major ramifications for his leadership of the tech giant as well as Korea’s views toward big business. With this sentence, Lee will be sidelined for the time being from major decision-making at Samsung Electronics as it strives to overtake competitors. He will also be unable to oversee the process of inheritance from his father, who died in October — crucial to maintaining his control of Samsung. Lee, 52, was convicted of bribing an associate of former President…
Author: DigitalTimesNG
An analysis of breach data by Tenable’s Security Response Team (SRT) has shown that from January to October 2020, there were 730 publicly disclosed events resulting in more 22 billion records exposed worldwide. The Tenable report also highlighted that 35% of the breaches that were analysed were linked to ransomware attacks, resulting in tremendous financial cost, while 14% of breaches were the result of email compromises. One of the overarching themes of the threat landscape in 2020 was that threat actors relied on unpatched vulnerabilities in their attacks as well as chaining together multiple vulnerabilities as part of their attacks.…
Abu Dhabi Customs has completed the digital transformation of all its services through the ‘TAMM’ platform, according to WAM. The digital services provided by Abu Dhabi Customs include 40 integrated core services that reflect Abu Dhabi Customs’ advanced infrastructure, operational flexibility and innovative technology. Its digital services also enable the completion of digital payments for 18 services via the ‘Abu Dhabi Pay’ platform – an integrated digital payment platform within ‘TAMM’. The digitised platform can enable seamless transactions for investors, wholesalers and customs brokers, helping them to save time and facilitate the movement of trade. According to Abu Dhabi Customs…
Stanbic IBTC Holdings PLC, has announced that its Bureau De Change Subsidiary, Stanbic IBTC Bureau De Change Limited has discontinued its Bureau de Change business with effect from 01 January 2021 by relinquishing its operating license. The discontinuation of operations of the BDC business was primarily driven by changes in regulations, which now affords customers with the opportunity of purchasing foreign exchange (PTA and BTA) directly from Stanbic IBTC Bank at any of its branches nationwide. The company said in a statement that the intention is to repurpose this subsidiary for other business venture in the near future, and stakeholders…
Daystar Power, a Lagos-based Nigerian tech startup, providing solar power solutions to businesses in the region, has secured $38million in a Series B Investment. The investment was led by the Investment Fund for Developing Countries (IFU), the Danish development finance institution (DFI) with additional investors including STOA, a French impact infrastructure fund, Proparco, and several other investors. The solar power-focused startup will reportedly use the funding to grow its operations in Nigeria and Ghana, with an aim to expand to other countries such as Senegal, Togo, and Côte d’Ivoire, according to a report in ventureburn.com The report said the funding will assist Daystar Power…
Microsoft said that it has learned a lot from its increased engagement with the open-source world, adding that open source is also now the “accepted model” for collaboration between companies. Microsoft was once one of the purest purveyors of proprietary software, but it has gone some way toward shedding that image over the past decade, according to a report in Venturebeat. Spearheaded in large part by Satya Nadella, who oversaw .NET’s open-sourcing, Microsoft’s joining of the Linux Foundation, and the open-source initiative, Microsoft has pushed hard to convince the world that it’s “all-in on open source.” The year 2020 continued on a similar footing,…
atingi (www.atingi.org), the digital learning platform of The German Federal Ministry for Economic Cooperation and Development (BMZ) has exceeded expectations in its first year. Within twelve months, atingi has reached almost a million people in Africa and already enabled 100,000 of them to access vocational education and self-development courses for free. atingi means “to achieve” in Esperanto, and the platform strives to improve the employability of young people through modern digital learning opportunities. With a large network of strategic cooperation partners – from politics and business to science and civil society – educational content which meets the needs of African audiences…
MultiChoice said it is delighted to bring back the hugely popular Step Up campaign offer to its DStv and GOtv customers this January. The Step Up campaign offer gives all active and disconnected DStv Compact, Confam and Yanga customers the opportunity to pay for a package a step above their current package and get a boost to view programming on the next higher package. While customers on GOtv Jolli and Jinja can upgrade to enjoy GOtv Max for less at a special discount of N2,999 instead of N3,600 per month, all the upgrades are scheduled to happen within 48 hours…
PayPal Holding Inc has become the first foreign operator with 100% control of a payment platform in China. According to Chinese government data, this comes as the U.S. fintech giant eyes a bigger foothold in a booming market for online payments. Reuters reports that PayPal acquired the 30% stake it doesn’t already own in China’s GoPay, formally known as Guofubao Information Technology Co., on Dec. 31, 2020, according to shareholder data from the National Enterprise Credit Information Publicity System. Financial details weren’t disclosed in the data, according to Reuters. The stake purchase came a year after PayPal bought a 70%…
Mweb, which is owned by Dimension Data, has been put on the market with Standard Bank running the process, MyBroadband reports. Mweb is one of South Africa’s oldest and best-known Internet service providers which offer a range of products, including fibre, LTE, ADSL, VoIP, and hosting. The ISP was founded in 1997 and quickly gained traction through its Big Black Box dial-up offering. Over the years it added new connectivity services, including ADSL in 2003, iBurst and 3G in 2006, and fibre-to-the-home in 2014. Mweb also shook up the broadband market in South Africa when it launched affordable uncapped ADSL…