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Africa Headlines

Nigeria beat Guinea-Bissau 1-0 to progress to the last 16 of the 2023 Africa Cup of Nations - In a Group A match at the Africa Cup of Nations (Afcon), Nigeria defeated Guinea-Bissau 1-0. The only goal of the game came when Opa Sangante of Guinea-Bissau inadvertently deflected a cross from Moses Simon into his own net just before halftime. Both teams had goals disallowed in the second half due to offside, and Nigeria's Victor Osimhen also had a goal disallowed for a handball. 

Despite the loss, Guinea-Bissau had no chance of advancing to the knockout stages. The match marked a historic moment as Bouchra Karboubi became the second woman to referee an Afcon finals game and headed the first all-female officiating team at the tournament. Nigeria finished second in Group A behind Equatorial Guinea, and they will face the second-placed team from Group C (Senegal, Guinea, or Cameroon) in the round of 16. Osimhen had several missed opportunities to score, but Nigeria's overall dominance secured their victory. 

The result, coupled with Ivory Coast's surprising loss, ensured Nigeria's progression to the knockout stages, although improvement in their attacking efficiency will be crucial for their further success in the tournament.

Naira appreciates to N1,350/$ in parallel market - Yesterday, the Nigerian naira strengthened to N1,350 per dollar in the parallel market, compared to N1,370 per dollar the previous week. However, in the Nigerian Foreign Exchange Market (NAFEM), the naira weakened to N925.34 per dollar, indicating a depreciation of N22.89. As a result, the gap between the official and parallel market exchange rates narrowed to N397.92 per dollar. 

The volume of dollars traded on the NAFEM decreased by 12 percent to $565.82 million last week from $645.97 million the previous week, according to data from FMDQ.

Boakai sworn in as new Liberia president after victory over Weah - Joseph Boakai has been inaugurated as Liberia's president after winning the election against George Weah. Boakai, aged 79, narrowly secured victory with 50.64% of the votes. He previously served as vice president from 2006 to 2018 under Ellen Johnson Sirleaf. The ceremony took place in Monrovia, attended by foreign leaders and diplomatic delegations. Liberia, a country of 5 million people, faces challenges such as corruption, poverty, and a weak justice system stemming from years of civil war. 

Boakai's campaign focused on job creation, economic improvement, institutional strengthening, and fighting corruption. Expectations are high for his presidency, and he is perceived as someone who has not engaged in corruption and has led a modest lifestyle. Liberians also anticipate improvements in electricity, water supply, and road infrastructure to attract investment. The previous government's failure to establish a war and economic crimes court and address impunity, as well as the suspicious deaths of four auditors, have raised concerns. Boakai's presidency aims to address these issues and bring stability and progress to Liberia.

Global Headlines

Sony scraps merger with India’s Zee - Sony has announced that it is withdrawing from a $10 billion merger with Indian rival Zee Entertainment, dealing a blow to both companies' ambitions of competing with streaming giants like Disney, Amazon, and Netflix in India's flourishing entertainment market. The deal, agreed upon three years ago, was aimed at creating a combined entity worth nearly $10 billion with annual revenues of around $2 billion. However, the merger faced challenges, including Sony's reported objections to having Zee's CEO, Punit Goenka, lead the merged company due to a regulatory probe against him. 

Sony also expressed concerns about Zee's declining profits. The collapse of the deal leaves both Sony and Zee vulnerable, particularly as Reliance is reportedly in negotiations for a merger with Disney's India unit. India's entertainment market is already one of the world's largest, and smartphone adoption is expected to further boost its growth in the future. Despite engaging in discussions to extend the deal's deadline, Sony and Zee failed to reach an agreement.

Norman Jewison: Renowned Canadian film director dies at 97 - Renowned film director Norman Jewison has passed away at his home, according to his spokesperson Jeff Sanderson. Jewison, a three-time Oscar nominee for best director, was known for directing acclaimed films such as Moonstruck, In The Heat of the Night, and Fiddler on the Roof. He was praised for his versatility and his ability to address important social issues like racism and civil rights in his movies. 

Throughout his career, Jewison's films garnered a total of 46 Academy Award nominations and won 12 Oscars. In recognition of his contributions to the film industry, he received lifetime achievement awards from both the Academy of Motion Pictures Arts and Sciences in the United States and Canada. Jewison was dedicated to portraying the complexities of humanity in his work, aiming for audiences to see themselves reflected on screen. He collaborated with esteemed actors including Denzel Washington and Sidney Poitier during his illustrious career.

Medibank hack: Russian sanctioned over Australia's worst data breach - A Russian man named Aleksandr Ermakov has been sanctioned for his involvement in Australia's largest data breach, which targeted the country's biggest health insurer, Medibank, in late 2022. The breach resulted in the theft of personal information belonging to 9.7 million Australians, including sensitive documents such as abortion records, which were subsequently posted online. Ermakov, believed to be a member of the Russian cyber-crime group REvil, has been subjected to cyber sanctions by Australian authorities, including financial penalties and a travel ban. 

The Australian Home Affairs Minister, Clare O'Neil, described the Medibank hack as the most devastating cyber-attack the country has experienced, expressing outrage at the violation of people's privacy. The government's use of cyber sanctions legislation marks the first time such measures have been employed in Australia to penalize individuals involved in significant online attacks. The breach is still under investigation, and additional individuals may face penalties. The incident has prompted concerns about data security in Australia, leading to the launch of several class actions against Medibank for alleged insufficient protection of sensitive data.

United Airlines to lose money over Boeing groundings - United Airlines, the US carrier with the largest fleet of Boeing 737 Max 9 jets, expects to experience financial losses between January and March due to the grounding of these aircraft. The grounding was prompted by a door breaking away mid-flight on one of the jets, leading to the US Federal Aviation Administration (FAA) grounding 171 of them. Inspections and safety measures have resulted in flight cancellations by United and Alaska Airlines, the two carriers most affected. 

United anticipates that the grounding will continue until January 26, assuming no flights will operate this month. The FAA has also called for inspections of an older model, the 737-900ER, which shares the same door design. However, the FAA did not order the grounding of the older model during inspections. Boeing has committed to enhancing inspection procedures following the incident. United, Alaska, and Boeing are expected to provide updates on the situation and their financial results in the coming weeks.