A Japanese automaker, Mazda Motor Company, says it is updating its Mazda3 and Mazda6 with the company’s G-Vectoring Control as standard equipment for 2017, an online journal, Automotive News, has reported.
While Mazda 3 (known as the Mazda Axela in Japan) is a compact car, Mazda 6 (known as the Mazda Atenza in China and Japan) is a large family.
The GVC controls the engine drive torque to generate deceleration G forces when the driver begins turning the steering wheel, thereby shifting load to the front wheels. The system also increases front wheel-tyre grip.
Quoting the automaker, the report says the G-Vectoring Control will help to deliver smoother and more efficient vehicle behaviour.
It adds that the rest of the brand’s lineup will receive the feature later, giving an indication that it will soon become a standard facility in the Mazda vehicles.
It explains how the control works, saying, when a driver maintains a constant steering angle, the GVC immediately recovers engine drive torque, transferring load to the rear wheels to enhance vehicle stability.
“The series of load transfers draws out more grip from the front and rear tyres, enhancing vehicle responsiveness; and stability better aligned with the driver’s intentions,” it states.
Mazda also says the GVC will allow for better handling and greater stability on slippery surfaces, in addition to offering more comfortable ride.
It notes that the GVC, which is a software control system, does not increase the vehicle weight.
Mazda is said to be making other changes to the Mazda6 to give the midsize sedan a more premium feel for the 2017 model year.
Some of the features available on the Grand Touring models equipped with the premium package are Nappa leather seats, a steering wheel heater and rear-seat heaters.
The Grand Touring models are said to have received laminated front side windows, similar to what is available in the CX-9 Grand Touring and Signature crossovers.
A new grille, a new rear bumper, new wheels and a steering wheel introduced on the 2016 CX-9 are other features that will be found in the 2017 model of Mazda3 hatchback.
According to the automaker, dynamic dampers on the rear suspension trailing arms and suspension cross-member will help strengthen the ride quietness.
It says the 2017 model is three decibels quieter at 25mph over rough roads because of tighter body gaps and improved sound insulation.
Pantami Moves to Tackle $2.16bn Capital Flight from Telecoms Sector
$2.16bn Leaves Telecommunications Sector Yearly
The Minister of Communications and Digital Economy, Isa Pantami, has put the total capital flight from the telecommunications sector at $2.16 billion per year.
A large part of the total amount comes from those renewing and purchasing software licenses, domain subscriptions and renewals, and cybersecurity.
The minister said to stem the trend, the ministry has developed a policy to promote local content in the sector.
In his speech at the digital day celebration, Pantami said the Indigenous Content Development and Adoption, under Pillar #8 of the National Digital Economy Policy and Strategy (2020 – 2030), would tackle the issue.
Pantami said, “As part of our efforts to promote indigenous content, we have developed a policy for promoting indigenous content in the telecom sector to complement similar efforts that focus on the information technology sector.
“This is important to stem the tide of capital flight, among other things. A report of the Association of Telecommunication Companies of Nigeria suggests that such capital flight in the telecom sector is as high as $2.16bn annually.
“A healthy digital economy requires a robust indigenous content policy to significantly reduce this.”
Pantami stated that there was an urgent need to promote and support the development of indigenous content in all sectors.
He explained that the Indigenous Content Development and Adoption pillar was addressing this for the digital economy.
“This pillar aligns with Executive Orders 003 of May 2017 and 005 of February 2018, on ‘Support for Local Content Procurements by Ministries, Department and Agencies of the Federal Government of Nigeria,” he said.
Speaking on broadband, the minister said the Nigerian National Broadband Plan (2020-2025) was created to speed up the growth of broadband connectivity in Nigeria.
Pantami said, “The plan is designed to deliver data download speeds across Nigeria of a minimum 25Mbps in urban areas, and 10Mbps in rural areas, with effective coverage available to at least 90 per cent of the population by 2025.
“This will be at a price not more than N390 per 1GB of data (two per cent of median income or one per cent of minimum wage).”
Nigeria’s Fintech Startups Raised $122 Million in 2019
Financial Technology Startups in Nigeria Raised $122 Million in 2019
Financial Technology (fintech) startups in Nigeria raised a combined $122 million in 2019, according to the Nigerian Stock Exchange (NSE).
Mr. Olumide Bolumole, the Divisional Head of Listings Business, NSE, disclosed this while speaking on the fintech industry and its growth in recent years.
“The Fintech industry in Nigeria continues to gain increasing popularity after taking the lead in Africa and attracting $122 million in funds in 2019.
“At the exchange, we recognise the opportunity to provide a platform where players in the Fintech landscape can have easier access to right-sized capital to fulfil their organisational objectives.
“The NSE is, therefore, committed to developing multiple solutions to address the needs of the Fintech community in Nigeria such as the provision of the NSE Growth Board.
“The exchange will also prioritise collaborations with organisations such as FinTechNGR to ensure solutions from this webinar are implemented for the benefit of the sector,” he said.
However, with just about 200 fintech companies in Nigeria, the sector is still young and just emerging with room for growth, considering the fact that most Nigerians are still unbanked.
Fintech Companies Raised $554 Million in Investment Last Week
Financial Technology Firms Raised $554 Million Investment Capital Last Week
Financial Technology (Fintech) companies raised a combined $554.17 million from investment rounds last week.
A data compiled by Finbold showed the top 25 fintech firms were led by Razorpay and Wealthsimple.
Razorpay, a payment platform, raised $100 million to account for 18.04 percent of the total amount raised during the week. This was followed by Wealthsimple’s $87 million.
Deepwatch came third with $53 million while NYDIG and M1 Finance came fourth and fifth with $50 million and $45 million, respectively.
Other noteable fintechs include Extend $40 million; FOSSA $30.55 million; +Simple $23.75 million; Finexio $23 million; and Sonrai Security $20 million.
On the other hand, Evolve Credit was the last among the 25 companies. It raised $0.025 million while Upside Saving raised the second least fund at $0.42 million. Also, they were the two firms that raised below $1 million in the week under review.
Oliver Scott, a Finbold editor, who spoke on funding in the fintech sector, said “Notably, venture capital is still the primary source of funding for fintech startups. However, new trends indicate a high level of private equity and debt financing. Additionally, more funding activity is concentrated around later funding rounds. The sector is also witnessing a rise in IPOs and acquisitions. Such trends are pointing to a maturing market.”
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