Connect with us

Business

African printing industry to gain from SGI Dubai 2019

Published

on

International Expo Consults (IEC) part of Falak Holding, stated that the African printing and signage industry will immensely benefit from the innovative products and solutions at the Sign and Graphic Imaging – SGI Dubai 2019 trade show. The show currently in its 22nd consecutive year will be held at the iconic, Dubai World Trade Centre, from January 13th to 15th 2019 at the halls 4, 5, 6, 7 and 8.

According to a Smithers Pira report titled ‘The Future of Printing in Middle East and Northern Africa to 2022’ the printing market is poised to reach US$54 billion in 2022. According to the World Bank, six of the world’s ten fastest growing economies this year are in Africa. With such outstanding growth figures and the fact that most developed nations aren’t registering such growth in the printing industry, print manufacturers from around the world are looking at new markets like Africa to explore and invest.

Sharif Rahman, CEO, IEC stated, “Every year we have hundreds of trade visitors from the African continent visiting our show. The exhibitors at our show each year brings products and solutions with the African industry’s requirement in mind. With the state of the industry in the US, Europe and the growth potential in the African continent, it makes sense for such organisations to focus on this promising part of the world. A platform like SGI Dubai connects both buyers with sellers directly and ensures that they both benefit from this show”.

ALSO READ  Patrick Akinwuntan Named Managing Director & Regional Executive of Ecobank Nigeria

SGI Dubai 2019 encompasses all signage and graphic solutions and is an important channel which showcases products and services where one can interact with the leading players in the signage, graphic imaging, screen and digital printing industries.

“SGI Dubai has been instrumental in providing the industry with a platform to promote itself in the region. Our influence isn’t just limited till the Middle East but extends into parts of Africa as witnessed by the amount of visitors we receive every year from the region. With SGI Dubai we make sure that the industry stakeholders all along the continent are exposed to the top of the line technology in the printing industry and given the choice to make an informed decision about their purchases in one single event,” added Rahman.

SGI Dubai 2019 will also include a creative competition – SGI Dubai ‘Wall of Fame’, a car wrapping competition – ‘Masters of Wrap’, seminars and workshops conducted by industry experts under the banner of ‘Knowledge Series 2019’. The show will be focussed on several aspects of the printing and graphics industry including signage, digital signage, textile printing, screen printing, LED among others. During the previous edition SGI Dubai welcomed over 330 global exhibitors from across 30+ countries and registered thousands of trade visitors from around the world.

ALSO READ  Russia threatens Western companies with arrests, seizures

Rapid changes have swept through the African print industry, with digital printing technologies emerging as mainstream processes at the expense of conventional analogue printing. With technological advances, including 3D printing, the traditional print landscape has to reposition themselves in the market in order to remain relevant. Some sectors of the local industry are becoming more vertically integrated, with earlier processes that were done inhouse are being outsourced to experts. The African printing and signage industry is currently looking at innovative solutions that would support its rapid growth.

SGI Dubai is an ideal converging point where visitors and exhibitors can influence and engage with architects, sign makers, print and production manufacturers, media agencies, real-estate developers, brand and image consultants among others.

Advertisement
Comments

Business

Bitcoin Hits $50,000 For First Time Since 2021

Published

on

By

A picture taken on February 6, 2018 shows a visual representation of the digital crypto-currency Bitcoin, at the “Bitcoin Change” shop in the Israeli city of Tel Aviv. (Photo by JACK GUEZ / AFP)

Bitcoin surpassed the $50,000 mark on Tuesday, marking its highest value in over two years.

Investor optimism surged as anticipation grew regarding broader trading approval in the US, with hopes riding high on potential green lights for cryptocurrency exchange-traded funds (ETFs).

Despite an initial dip following Washington’s approval signal last month, Bitcoin has rebounded impressively, boasting a 25 percent rally since January 22.

As of the latest data from Bloomberg, the cryptocurrency peaked at $50,328, underscoring the resilience and upward momentum in the crypto market, leaving observers optimistic about its future trajectory.

“Enthusiast buyers bring in more enthusiast buyers pushing prices further up,” Fadi Aboualfa, of Copper Technologies, said.

“The cryptocurrency has momentum on the back of several green weeks and has a large chance of going up further when markets see weekly movements upwards of 10 percent (as we saw last week).”

By 0330 GMT Tuesday, bitcoin had dropped slightly, to $49,950.

While Bitcoin has made an impressive recovery, currently standing above $50,000, it still lags significantly behind its peak value of nearly $69,000 in 2020. This rally signals a bounce-back for the cryptocurrency, which faced turbulent times marked by high-profile scandals and collapses within the crypto industry.

ALSO READ  Inflation Rises To 18.6% In Nigeria

Last year, FTX, the world’s second-largest crypto exchange, suffered a dramatic downfall, with its CEO, Sam Bankman-Fried, now confronting potential consequences. Prosecutors have characterised the situation as “one of the biggest financial frauds in American history,” and Bankman-Fried faces the looming threat of up to 110 years in prison.

In November, Changpeng “CZ” Zhao resigned as CEO of Binance, the world’s largest crypto exchange, following both his and the company’s admission of guilt in extensive money laundering violations.

Bitcoin’s upward trajectory is further fueled by optimism surrounding potential interest rate cuts by the US Federal Reserve this year, as inflation appears to be easing. The cryptocurrency’s value is also influenced by an anticipated supply crunch next year, attributed to the recurring event known as “halving.”

Bitcoin, earned through intricate problem-solving by powerful computers in a process called “mining,” experiences a reduction in reward every four years. With the next “halving” scheduled for April, the limited supply dynamic continues to be a driving force behind Bitcoin’s value surge.

Continue Reading

Business

Microsoft Joins Apple In $3 Trillion Club

Published

on

By

Microsoft joined Apple on Wednesday as a three trillion dollar company, as its big bet on artificial intelligence continued to impress Wall Street.

Now second to Apple as the world’s biggest company by market capitalization, Microsoft’s shares were up 1.31 percent at $404.

 

Apple remains narrowly in first place at $3.02 trillion after reaching the $3 trillion market capitalization mark for the first time in January 2022.

 

But it has fallen below the milestone, even briefly losing the pole position as biggest company on the markets when Microsoft briefly overtook the iPhone maker earlier this month.

 

Microsoft more than any other tech giant is riding the wave of excitement over AI.

The Redmond, Washington-based group has a major partnership with OpenAI, creator of ChatGPT, that is reportedly worth $13 billion.

Since the arrival of ChatGPT, Microsoft has launched several products enabling companies and individuals to use the capabilities of generative AI, notably via its Bing search engine and Copilot virtual assistant.

Since the launch of ChatGPT in early November 2022, Microsoft shares have gained some 67 percent, with Apple’s up by about 40 percent.

Microsoft publishes its results on January 30.

 

ALSO READ  Patrick Akinwuntan Named Managing Director & Regional Executive of Ecobank Nigeria
Continue Reading

Business

Nigeria: Shell Announces Sale of Onshore Oil Assets

Published

on

By

In an aerial view, gas prices nearing $6.00 a gallon are displayed at a Shell gas station on February 23, 2022 in San Francisco, California. Justin Sullivan/Getty Images/AFP

Shell has announced a deal to offload its Nigerian onshore subsidiary, the Shell Petroleum Development Company of Nigeria Limited (SPDC), to Renaissance.

The acquiring entity, Renaissance, stands as a consortium comprising four local exploration and production companies in Nigeria, alongside an international energy group.

Shell,  in a Tuesday statement on its website, said, “Completion of the transaction is subject to approvals by the Federal Government of Nigeria and other conditions.

“Transaction will preserve SPDC’s operating capabilities for the benefit of a joint venture. The transaction has been designed to preserve the full range of SPDC’s operating capabilities following the change of ownership. This includes the technical expertise, management systems, and processes that SPDC implements on behalf of all the companies in the SPDC Joint Venture (SPDC JV)”.

But, it said, “SPDC’s staff will continue to be employed by the company as it transitions to new ownership”.

Shell emphasised  that amidst the competitive landscape, the company remains committed to supporting the management of SPDC JV facilities. These facilities play a crucial role in supplying a significant portion of feed gas to Nigeria LNG (NLNG), highlighting Shell’s dedication to assisting the nation in maximizing value from its NLNG endeavors.

“This agreement marks an important milestone for Shell in Nigeria, aligning with our previously announced intent to exit onshore oil production in the Niger Delta, simplifying our portfolio and focusing future disciplined investment in Nigeria on our Deepwater and Integrated Gas positions,” Shell’s Integrated Gas and Upstream Director Zoë Yujnovich said.

ALSO READ  Dangote urges deepening of African economy through free trade

“It is a significant moment for SPDC, whose people have built it into a high-quality business over many years. Now, after decades as a pioneer in Nigeria’s energy sector, SPDC will move to its next chapter under the ownership of an experienced, ambitious Nigerian-led consortium.

“Shell sees a bright future in Nigeria with a positive investment outlook for its energy sector. We will continue to support the country’s growing energy needs and export ambitions in areas aligned with our strategy.”

Continue Reading
Advertisement

Tweets by ‎@megaiconmagg

Subscribe to our Newsletter

* indicates required

MegaIcon Magazine Facebook Page

Advertisement

MEGAICON TV

Trending