World Business News
The construction work on the Baro port in Nigeria is at 98% complete. Ibrahim ShuaibuVulegbo, the Technical Officer in charge of the port has announced. Already, the dredging work from Baro to Lokoja has been completed. According to Ibrahim ShuaibuVulegbo, the port project now requires installation of the cranes and perimeter fencing. A10km radius developmental plan has been declared for Baro town in regards tourban settlement. However, critical and strategic expedite action needs to be put in action in order to put the in-land port to use.
The biggest stadium in Ghana is set to be constructed after Tema Metropolitan Assembly in collaboration with Transatlantic BDR concluded an agreement to construct a 60,000 capacity stadium in the country. The multi-billion-dollar complex will be constructed along Tema’s coastline. The ground-breaking project is an overall regional economic development plan designed to grow international tourism Beside the project being a 60,000 capacity stadium, the facility will also involve construction of residential mixed-use accommodations targeting cross-border corporations and regional companies as well as retail commercial. The historic project partnership has the full support of the national and local government officials. “I wish to express our support,” said Honorable Rashid Pelpuo, Ghana’s minister of State. “For this landmark development that will forever change Ghana and be a showcase for the future development on the continent of Africa,” he added.
Data centres power the modern economy and keep the world’s largest businesses, websites and services running, but in doing so they are also the biggest guzzlers of energy worldwide. The industry is applying new business models and technologies to change that. But these data centres are also indispensable. They house the IT operations, equipment and software of organisations across the world, which stores, processes, and disseminates information. They can be located on-site or outsourced to a third-party company that will maintain the computer servers. The world’s largest search engine Google, for instance, owns 14 data centres around the world – including one in the western part of Singapore. Data centres are among the biggest consumers of energy in the world. In Singapore, energy consumption by the country’s 10 largest data centre operators is equivalent to that of 130,000 typical three-bedroom apartments, according to the Infocomm Development Authority (IDA).
Since January, political and business circles alike have been abuzz with talk of the fourth industrial revolution - the chosen topic of this year’s World Economic Forum (WEF) meeting held in Davos, Switzerland - and how it will transform the global economy in the coming years. This technological revolution, which has the potential to disrupt entire industries and change the way we work and live, will see a fusion of technologies blurring the lines “between the physical, digital, and biological spheres”, says WEF founder and executive chairman Klaus Schwab. Noting the transitions of manufacturing across time, Schwab wrote ahead of the WEF that the first industrial revolution used water and steam power to mechanise production; the second used electric power to create mass production, and the third used electronics and information technology to automate production.
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