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Google Disagrees with South Korean Fine

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Google Acquires 1.28% Stake in Airtel India

 

There are indications that Alphabet Inc’s Google is focused on clearing its name instead of paying the fine imposed on it by South Korea.

 

Reuters reports that South Korea’s antitrust regulator fined Alphabet Inc’s (GOOGL.O) Google 42.1 billion won (in local currency, an equivalent of $31.88 million) for blocking the release of mobile video games on a competitor’s platform.

 

However, the US technology giant has moved to distance itself from what it is being accused of, with a promise to subject the fine to internal reviews before taking its next line of action.

 

Reuters, quoting a Google spokesperson reports that “Google said it will review the final decision by the KFTC to evaluate the next course of action.

 

“Google makes substantial investments in the success of developers, and we respectfully disagree with the KFTC’s conclusions.”

 

Biztellers reports that the KFTC imposed the fine on claims that Google bolstered its market dominance, which hurt local app market One Store’s revenue and value as a platform.

 

It also highlighted that Google did this by requiring video game makers to exclusively release their titles on Google Play in exchange for providing in-app exposure between June 2016 and April 2018, the Korea Fair Trade Commission (KFTC) wielded the big stick.

 

The KFTC said the move against the U.S. technology giant was part of efforts by the government to ensure fair markets.

 

Game makers affected by Google’s action include Netmarble (251270.KS), Nexon (225570.KQ) and NCSOFT (036570.KS), as well as other smaller companies, the antitrust regulator added.

 

In 2021, Google was fined more than 200 billion won by the KFTC for blocking customised versions of its Android operating system.

Brands

Family Fun Unleashed: Indomie Love Bowl Premiering This Month

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The premiere of the “Indomie Love Bowl,” a family game show sponsored by Indomie in collaboration with Multichoice, is scheduled for October 22, 2023.

 

The 13-episode series will showcase three families per episode, competing for the coveted title and attractive prizes.

 

The victorious family in the reality show stands to gain significant rewards, with the first-place winners earning an impressive 5 million Naira.

 

The second and third-place families will receive 2.5 million Naira and 1.5 million Naira, respectively. Beyond the cash prizes, the winning families will relish a two-year abundance of Indomie products, renowned for their delightful flavor and quality.

 

Asiwaju Temitope, Head of Corporate Communications for Indomie, emphasized the brand’s deep connection with love and excitement in the food category as the driving force behind the show.

 

The primary goal of the show is to elevate values such as love within families, particularly emphasizing the special bonds between mothers and children.

 

The collaboration with Multichoice was a strategic move, leveraging its broad outreach and the widespread accessibility of DSTV in numerous households. This ensures the game show’s broad and impactful reach.

 

“We created this games show and we chose this with family represented by mums and children. It’s going to involve several families and winners willl emerge based on the programmes. 3 families will emerge as winners with consolatory prizes. We chose Multichoice because it is a big reach and there’s no home where you won’t find DSTV”.

 

Busola Tejumola, Executive Head of Content and West Africa Channels at Multichoice West Africa, underscored that the “Indomie Love Bowl” revolves around themes of unity, bonding, and the special affection between mothers and children.

 

Set to debut on October 22, 2023, at 7 pm on the Africa Magic Family channel, the show aims to deliver thrilling moments and dynamic interactions among family members.

Stephanie Coker, the show’s host and On-Air personality, expressed her joy in being involved in the project, particularly as a mother. She eagerly anticipated watching the show with her daughter, celebrating the special bond between mothers and children, the exciting games, and the evident team spirit. Coker also emphasized the chemistry with her co-host, Darasimi, promising an engaging experience for the audience.

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Brands

BUA Takes Bold Step: Slashes Price Of Cement

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BUA Cement PLC has declared a cut in the price of its cement product to N3,500 per bag, effective from Monday, October 2, 2023.

 

. The company cites its dedication to fostering growth in the building materials and infrastructural sectors as the reason behind this reduction.

 

The announcement was made through a statement posted on its X page, previously known as Twitter.

 

This decision follows the chairman, Abdul Samad Rabiu’s commitment to reviewing the product’s price after a meeting with President Bola Tinubu weeks ago.

 

The statement read in part, “We refer to our previous pronouncements regarding our intent to reduce cement prices upon the completion of our new lines at the end of the year, in order to spur development in the building materials and infrastructure sectors.

 

“As per the commitment made to reduce prices and following a periodic review of our operations for efficiency, the management of BUA Cement Plc wishes to announce and inform our esteemed customers, stakeholders, and the public that effective October 2, 2023, we have decided to bring the price reduction forward.

 

“As a result, BUA Cement would now be sold at an ex-factory* price of 3,500 Naira per bag so that Nigerians can begin to enjoy the benefits of the price reduction before the completion of our plants.

 

“Upon completion of the ongoing construction of our new plants, which would increase our production volumes to 17million metric tonnes per annum, BUA Cement PLC intends to review these prices further in line with our earlier pronouncements by the first quarter of 2024.”

 

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Brands

Again, Dangote Clinches ‘Brand of the Year’ Award

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Dangote Industries Limited has received the prestigious Brand of the Year award, acknowledging the company’s outstanding corporate performance in the past year.

 

At a ceremony held in Lagos, John Ajayi, the Publisher of Marketing Edge, clarified that the award conferred upon Dangote is the flagship recognition, highlighting the company’s consistent contributions to the economic advancement of Nigeria and Africa.

 

Mr. Ajayi emphasized that this recognition encompasses a broad spectrum of business investments and corporate initiatives carried out by Dangote across the African continent.

 

He noted “This recognition covers many business investments and corporate interventions carried out by the company in Africa as a continent.”

 

During the award presentation, he credited Dangote’s exceptional position in its industry to its robust efforts in generating employment opportunities, thereby positively impacting numerous youths.

 

Additionally, he praised Dangote Industries for its steadfast dedication to the development of vital infrastructure.

 

He highlighted that the award presentation marked a significant milestone during Marketing Edge’s 20th-anniversary celebration and the 11th edition of its annual Brands and Advertising Excellence Award.

 

Numerous other brands were also honored for their exceptional achievements in the market.

 

Mr. Ajayi underscored that Marketing Edge’s two-decade presence in the industry has firmly established it as a trustworthy and authoritative partner for all stakeholders in the Nigerian marketing and advertising landscape.

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