These 5 latest stories from the tech space will keep you updated with trends today.
1. Convid-19 continues to crash market as tech stocks drop 8%
Monday, March 9, was an awful day for the stock market, with global and domestic equities falling sharply as the world digested a collapse in oil prices. The fall, which has been attributed to the increasing toll in the spread of COVID-19, has affected revenue of leading tech entities like SaaS and Cloud Stocks.
Reports indicate that all major U.S. indices were down, with the tech-heavy Nasdaq equally falling, slipping a comparatively modest 7.29%, to 7,950.68 on Monday. The once booming tech industry is now struggling to hold up as a significant portion of the technology market fell. There is fear that if the virus persist, tech revenue might continue to degenerate.
2. Airtel Africa purchases additional 10MHz spectrum to strengthen signal strength in Nigeria
In what may seem like a reaction to its customers’ yearnings, Airtel Africa has reportedly purchased an additional 10MHz spectrum in the 900MHz band in a bid to further deliver efficient services across its various value offerings in Nigeria.
Emerging updates from the tech space have revealed that Airtel has finalised plans with the Nigerian Communications Commission (NCC) to purchase this additional $70 million service spectrum. It remains to be seen how broader this addition will go into the improvement of the network service as a telecommunications player.
3. South African Logistics firm launches VC fund for African and European startups
Johannesburg Stock Exchange listed logistics company, Imperial, has partnered with Vinny Lingham’s venture capital (VC) firm, Newtown Partners, to launch a corporate VC fund. Synergising as a new entrant into the VC space, the logistics firm shall leverage on Newtown Partners expertise as an existing VC player to deliver its vision to empower and support selected startups across Africa and Europe.
To the greater lot of Nigeria, Newtown has hinted that its first investment is completed and that a Nigerian brand won the slot. According to the team, the fund will have an initial capitalisation of $20-million and shall be invested in startups operating within the logistics industry.
4. Instrumentation developer company introduces wristband technology to curb Coronavirus spread
Artificial intelligence and health instrumentation startup, Slightly Robot, has redesigned it’s wristband technology to resist user’s urge to touch the faces by sensory stimulation. As the world attempts to stay readily alert following the outbreak of Convid-19 and ensure its spread is contained, the Immutouch idea could gradually become a welcome idea if the virus persists.
As a novel concept, the anti-face touch device was designed in such a way that it vibrates when users attempt to touch their nose, eyes, ears or other facial regions.
5. BMW shelves initial plans to take new iX3 automobile to the U.S. market
Contrary to the earlier plans of BMW, it will no longer take its new iX3, the automaker’s first electric crossover, to America. According to the automobile company, the decision was reached to shift its EV strategy to Europe and China.
It further revealed, however, that the change is important because the iX3 is modelled on its existing X3 automobile, which remains the most popular BMW model in the U.S. Once the new BMW iX3 is manufactured in China, it will be slated for launch outside America in the first half of 2021.
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