Tag: global

  • Charles Scott-Emuakpor revolutionises global tech landscapes with Prime technologies

    Charles Scott-Emuakpor revolutionises global tech landscapes with Prime technologies

    Charles Scott-Emuakpor, a trailblazing leader, is spearheading a technological revolution across Africa, Latin America, and Asia with his groundbreaking venture, Prime Teknologies.

    Armed with an Information & Communications Technology degree from the University of Gloucestershire (UK) and an MBA from Cambridge Anglia Ruskin University (UK), Scott-Emuakpor boasts a rich educational background that fuels his passion for transformative tech solutions.

    Scott-Emuakpor shared pivotal insights into his professional journey, from the early days at Ovilaj Autos to spearheading innovative initiatives at Huawei.

    “Each step has been a learning opportunity, shaping my understanding of the tech industry,” he remarked. His tenure at Huawei, starting in 2019, positioned him in key roles, contributing significantly to the company’s global footprint.

    “Being part of Huawei’s Global Tech-4-all Open programme in partnership with UNESCO was a humbling experience. Though that wasn’t my initiative, I did lead the connected devices ecosystem for Huawei’s Global Eco-Development department in the UK, this allowed me to contribute to bridging the innovation gap in Africa, Latin America, and Asia, bringing technology to communities that need it the most,” he said.

    Scott-Emuakpor’s journey is marked by impactful roles, including founding London’s first commercial Virtual Reality (VR) center, Prime 5D Centre in 2014.

    As General Manager at IDG, he led projects across Europe, contributing to the growth of immersive technology. His entrepreneurial venture, Ovilaj IT Global, demonstrated a commitment to software solutions.

    His foray into entrepreneurship with Ovilaj IT Global showcased his commitment to software solutions. In 2019, he founded Prime Teknologies (UK) Ltd, emphasising Artificial Intelligence (AI) and Virtual Reality technologies.

    “Wearing various hats at Huawei, from Wearables to AppGallery, and leading in areas like Huawei Cloud, smart devices and technology research, allowed me to contribute to the company’s multifaceted growth, my experiences have not only honed my technical skills but also given me a deep understanding of how technology can impact diverse industries,” he said.

    Beyond corporate success, Scott-Emuakpor is actively involved in nurturing tech innovation at the grassroots level. He initiated a transformative tech program at his alma mater in Warri, Delta State, introducing smart devices and immersive science VR experiences to enhance the school’s curriculum.

    Additionally, he established a self-funded scholarship programme, ongoing since its inception, empowering students from Primary through Secondary levels. “Education and technology hold the key to a brighter future. Initiatives like these aim to empower young minds,” he stated.

    Read Also: APC leader purchases WAEC, UTME forms for 600 Osun students

    Under Scott-Emuakpor’s leadership, Prime Teknologies envisions harnessing emerging technology to revolutionize consumer products, services, and IT solutions. The company, comprising a team of creative innovators and IT engineers, specializes in cutting-edge research, design, manufacturing, and supply of various IT solutions.

    “Prime Teknologies is at the forefront of cutting-edge technologies,” Scott-Emuakpor elucidated. “Our goal is to create solutions that not only meet industry needs but redefine standards.”

    As Scott-Emuakpor leads the charge in innovation, he views it as an ongoing journey rather than a destination. At Prime Teknologies, our mission is to blaze a trail, shaping the tech landscape across Africa, Latin America, and Asia to make an enduring impact on the IT industry.

    Looking forward, Charles holds a deep-seated wish for Nigeria to emerge as a global technology powerhouse, not merely a consumer. The overarching goal of these articles is to introduce a new face committed to supporting local and national entities in driving technology adoption, fostering creation, and fueling research for innovation and emerging technologies in Nigeria and Africa.

     He plans to return to Nigeria in February 2024, aligning with his intention to engage in the Innovate Nigeria conference & expo 2024 in Lagos amongst other activities. This move aims to contribute to ongoing efforts to infuse technology into businesses and inspire the next generation, especially women in tech.

  • Global tech conference holds

    Global tech conference holds

    The inaugural edition of the Global Tech Africa (GTA) Conference, held at the Lekki Coliseum in Lagos, has emerged as a pivotal platform for the advancement of Africa’s digital economy, providing unparalleled insights into the potential and future of the continent’s tech ecosystem.

     This is according to the Director General, National Information Technology Development Agency (NITDA), Mallam Kashifu Abdullahi, who delivered the keynote address.

    He highlighted Nigeria’s ambition to become Africa’s tech capital and outlined the government’s commitment to partnering entities to create a platform, fostering networking and idea generation.

     “The government is partnering NGOs, organisations, foundations and the international community to create this platform so that we can network and brainstorm ideas on how to enact policies that can enable the ecosystem and position Nigeria as a digital powerhouse in the global landscape,” he said.

    Read Also: MC Oluomo secures second term as Lagos NURTW chair

    Implementation Partner of the GTA Conference, Dr. Inya Lawal, emphasised the collaborative nature of the conference, highlighting its role as a catalyst for driving digital transformation across Africa.

     Stressing the interdependence of the public and private sectors, she stressed the need for joint efforts to propel the tech industry forward, noting it as a catalyst for initiating crucial conversations and united planning to steer Africa’s tech ecosystem toward sustainable growth.

     Lawal said: “GTA is that platform where the government and private sectors can collaborate in impactful partnerships to foster Africa’s tech ecosystem. We need each other and we also need to find alliances that work for us.”

     The GTA Conference also hosted a pitch session and seed funding for young tech founders, with Rukayat Kolawole emerging as the winner, securing a $20,000 ‘SAFE’ Investment in her startup, Regxta.

  • When Nigerian girls shone on the global stage

    When Nigerian girls shone on the global stage

    By: Akinola Ayobami Steven
    Sir: In a resounding victory for the girl child and a testament to the progressive educational investments made by the Lagos State government, two remarkable young women have made their nation proud by clinching gold and silver medals in this year’s Commonwealth Essay Competition. The achievements of Oscar Sharon and Ifeoluwa Akinola are not merely accolades but also a powerful illustration of the immense potential that the girl child holds when offered quality education. Their success highlights Lagos State’s commitment to enhancing education at both the secondary and tertiary levels and embodies the indomitable spirit of intelligent Nigerians in the global arena.

    Oscar Sharon and Ifeoluwa Akinola’s remarkable achievements cast a spotlight on the transformative power of quality education and its profound impact on the girl child. Historically, gender disparities have hindered countless young girls, depriving them of opportunities to realize their full potential. However, the accomplishments of these young women serve as a beacon of hope and inspiration, emphasizing that the girl child, when provided with equal opportunities and quality education, can shine brightly on the global stage.

    Education is not just about acquiring knowledge; it is a means of empowerment. It equips individuals with the skills and confidence to participate actively in societal development. The triumph of Oscar and Ifeoluwa reinforces the boundless potential of the girl child and the positive transformation that occurs when barriers to education are dismantled.

    Lagos State has taken commendable strides in enhancing education, not only at the secondary level but also within tertiary institutions. The Lagos State government has made substantial investments in education, recognizing it as a cornerstone for societal development. The commitment to education is evident in the comprehensive reforms and initiatives launched by the state to enhance the quality of learning.

    At the secondary level, Lagos State has been instrumental in creating an environment conducive to learning, offering state-of-the-art facilities, and fostering a curriculum that empowers students with relevant skills and knowledge. Ifeoluwa Akinola, who graduated from Abesan Senior High School, Lagos, serves as a testament to the state’s efforts in nurturing young talents.

    Read Also: Igbogbo Baiyeku LCDA distributes education materials to pupils

    Furthermore, Lagos State has displayed a resolute commitment to improving tertiary education. Institutions like the Lagos State University have seen remarkable enhancements, providing students with a world-class education that equips them with the tools necessary for success in a globalized world

    The achievements of Oscar Sharon and Ifeoluwa Akinola on the global stage are not isolated instances. They symbolize the Nigerian spirit of resilience, intelligence, and competitiveness. Nigerians have consistently demonstrated their ability to excel in various fields, both nationally and on the international stage.

    In an increasingly interconnected world, the accomplishments of young Nigerians like Oscar and Ifeoluwa underscore the potential for global competitiveness. Nigeria’s intellectual capital, innovation, and talent have the capacity to shape the future and contribute positively to global discourse.

    Education has a pivotal role to play in reducing moral decadence and social vices among the youth. Oscar Sharon and Ifeoluwa Akinola’s success story is a beacon of hope, offering an alternative to misguided paths often driven by a lack of access to quality education. When young people are empowered with knowledge and opportunities, they are less likely to engage in detrimental behaviors. The achievements of these exceptional young women serve as a strong deterrent to social vices.

    The triumphant narrative of Oscar Sharon and Ifeoluwa Akinola emphasizes that quality education, especially for the girl child, is a transformative force with far-reaching benefits. It spotlights Lagos State’s unwavering commitment to nurturing talent at both secondary and tertiary levels and mirrors the indomitable spirit of intelligent Nigerians on the global stage. Their achievements serve as a beacon for reducing moral decadence and social vices while significantly improving education among young people. Their success represents a remarkable step towards creating a brighter and more prosperous future for all.

    • Akinola Ayobami Steven, akinolaa61@gmail.com
  • Teni goes global, gets emotional on stage

    Teni The entertainer is gradually gaining international recognition. The female artiste whose style of music is different had encounter with some reporters from London and South Africa.

    Teni uploaded a video on Tuesday with the reporters, giving them a feel of her music in Lagos, Nigeria wrote, “Just wrapped up an interview with a team from London, and South Africa. They came all the way for me. Thank you”.

    The artiste was also at the U.S Consul General office, some days back for the #SayNoToElectionViolence, movement, where she encouraged all to come together as true citizens of Nigeria for the betterment and future of Nigeria.

    Last Wednesday, Teni got emotional during her stage performance at the Industry Nite, in Lagos.

    The multiple award-winning songstress, amazed by the love shown to her by the audience, while performing her hit single, Uyo Meyo, gasped her way through floods of tears to say: “You know, this na tears of joy.”

    “Because for every time I went to every other persons gigs. I was happy for them, sincerely. And so, when mine came, they will give me more patience. Because, I never envy anyone before me.”

    Teni’s career kicked off after the release of her single, Fargin, 2017. She then gained prominence when she followed up with hit singles, Askamaya and Case, last year.

    Teni has been tagged, ‘Nigerian Missy Elliot’ by music lovers due to her tomboy kind of outfit. She came out in 2016, but had her said hit single Fargin released in 2017, under Dr. Dolor Entertainment label. The same year she showcased her songwriting skills on one of Davido’s hit song ‘Like Dat’.

    Teni has released several songs such as Fake Jersey, Case, Askamaya, Uyo Meyo, and others, winning her  two awards (Rookie Of The Year Award in The Headies, 2018 & Best New Artist Award at Soundcity MVP Awards Festival, 2019).

  • Global feed volume to exceed 1.1b mt

    Global animal feed volume is expected to exceed 1.103 billion metric tons (MT), the Sustainable Livelihoods and Development Network for Africa (SLIDEN AFRICA) Chairman, Prof Kola Adebayo has said.

    Global animal feed volumes reached 1.103 billion metric tonnes last year  — beating 2017 production percentage, according to Alltech’s 2019 Global Feed Survey.

    Nigeria is estimated to rake in over N800 billion from the sector as consumption is increasing daily.

    At present, the total supply of all the locally produced feedstock does not appear to be sufficient to meet demands, especially the animal protein supplements that are imported.

    The major ingredients in animal feed are maize and soybeans. Other raw materials that can be used to produce animal feed include ground­nut, sorghum, and cassava and the major diets ingredients include cereals, fats and oils, which provide the protein and energy required for animals to maintain good health.

    This year, Adebayo said the figure would be exceeded as a large  percent of farmers produce maize as a regular part of their crop production, and the proportion is growing.

    He explained that  poultry chains depend on supply of feed ingredients. As a result, he said more youths are involved in   maize cultivation.

    He  added that the competitiveness of poultry production was largely governed by feed prices, and  that  feed contribute up to 70 per cent of the cost price.

    The maize scenario is unique compared to the rest of the world. Firstly, 70 per cent of the total maize produced in Nigeria is used for feeds.

    The feed demand has opened a new market for maize. Responding to demand from expanding poultry feed markets, Adebayo said  the area maize is planted in Nigeria has risen.

    Local production of maize in Nigeria could meet only 60 percent of national maize demand for poultry and other feeds.

    The global animal feed mar­ket can be segmented into five divisions based on livestock: poultry, swine, ruminant, aquaculture and others, and the cost of their feeding is on the high side especially the pet animals, which are also known as companion animals.

    This year’s Alltech Global Feed Survey estimates that world feed production has increased by a strong three percent to 1.103 billion metric tonnes of feeds produced last year, exceeding one billion metric tonnes for the third consecutive year. The eighth survey includes data from 144 countries and about 30,000 feed mills.

    Alltech works with feed mills, industry and government entities around the world to compile data and insights to provide an assessment of feed production yearly.

  • Global economy to expand by 3.1%, says World Bank

    Global economic growth will remain robust at 3.1 per cent this year before slowing gradually over the next two years, the World Bank Group has said.

    The global lender explained that the growth will remain upbeat as advanced-economy growth decelerates and the recovery in major commodity-exporting emerging market and developing economies levels off.

    World Bank Group President Jim Yong Kim said: “If it can be sustained, the robust economic growth that we have seen this year could help lift millions out of poverty, particularly in the fast-growing economies of South Asia”.

    “But growth alone won’t be enough to address pockets of extreme poverty in other parts of the world. Policymakers need to focus on ways to support growth over the longer run—by boosting productivity and labor force participation—in order to accelerate progress toward ending poverty and boosting shared prosperity.”

    Activity in advanced economies is expected to grow 2.2 per cent in 2018 before easing to a two per cent rate of expansion next year, as central banks gradually remove monetary stimulus, the June 2018 Global Economic Prospects says.

    Growth in emerging market and developing economies overall is projected to strengthen to 4.5 per cent in 2018, before reaching 4.7 per cent in 2019 as the recovery in commodity exporters matures and commodity prices level off following this year’s increase.

  • Cities responsible for 75% of global Co2 emissions

    A study has shown that cities are responsible for some 75 percent of global carbon dioxide (Co2) emissions; transport and buildings are among the largest contributors.

    To this end, experts have established a global blueprint to better understand climate change, its impacts on cities, and the critical role local authorities play in solving this challenge. The research agenda was drawn up at the Intergovernmental Panel on Climate Change (IPCC), Cities and Climate Change Science Conference that ended in Edmonton, Canada, this month.

    “The impacts of climate change are already being felt in our urban areas, and the next few years are critical for determining how effectively we will rise to the challenge of protecting our cities. However, we can’t undertake this work blindly. At this conference, we have been able to coalesce around the most important areas of inquiry so we can use precious time and resources in the most efficient and targeted way possible. And this research won’t just help save our cities,   it will also improve them for generations to come,” said Seth Schultz, Director of Science and Innovation, C40 Climate Leadership Group, and one of the co-chairs of the conference’s Scientific Steering Committee.

    A primary focus of the conference was on the Paris Agreement, the UN’s Sustainable Development goals, the New Urban Agenda, and the Sendai Framework for Disaster Risk Reduction, all of which require cities to implement new sustainable development plans to adapt and respond to climate change.

    The range of knowledge gained from the sessions helped chart a course for current and future sources of emissions, urban climate impacts, and pathways for cities to pursue emissions reduction and resilience strategies.

    UN Climate Change is also promoting more climate ambition on the part of cities and increased investment in investing in livable, low-carbon, resilient urban development.

    The recently launched “Cities and Regions Talanoa Dialogue” provides opportunities to advance governance on climate action, specifically in urban areas. The scheme aims to ensure coordinated action across all levels of government, and will be facilitated by ICLEI -Local Governments for Sustainability with Global Covenant of Mayors for Climate & Energy and UN-Habitat as special partners.

    This is part of the wider Talanoa Dialogue launched by the Presidency of the UN Climate Change Conference COP23 in Bonn last year, an important international conversation in which countries will check progress and seek to increase global ambition to meet the goals of the Paris Climate Change Agreement.

    The conference was co-sponsored by the Intergovernmental Panel on Climate Change (IPCC) , with nine partners – C40 Cities , Cities Alliance, Future Earth, ICLEI, the Sustainable Development Solutions Network (SDSN), United Cities and Local Governments (UCLG), the United Nations Environment Programme (UN Environment), UN-Habitat, and the World Climate Research Programme (WCRP).

    “Years from now we will look back at this conference time in Edmonton and celebrate how the collaboration between the scientific community, policymakers and practitioners helped initiate positive change at the local level. I’m so proud that Edmonton was able to play host to some of the brightest minds on our globe and I’m committed to furthering the efforts that came out of this conference,” said Don Iveson, Mayor of Edmonton.

    The CitiesIPCC conference helped forge stronger partnerships among the 750 leaders, innovators, and influencers who registered, and cultivated a collaborative environment among academics, policymakers and practitioners to share new findings, initiatives and programmes. Over 6,000 others from more than 30 countries followed the conference online.

    “Business-as-usual will not save the world. This conference disrupted the traditional story of the world’s cities to show how science can partner with policy and practice to transform the world’s cities into climate-smart, equitable and sustainable homes for all,” said Debra Roberts, Co-Chair of IPCC Working Group II, and a member of the conference’s Scientific Steering Committee.

    “With the contributions of cities and the risks to cities in the context of climate change loud and clear, solution-oriented knowledge is a must. This conference was a milestone on the way to a collective effort by the science, policy and practice communities to co-create and co-design a global research agenda for the future and for forging partnerships among them,” said Shobhakar Dhakal of the Asian Institute of Technology and one of the co-chairs of the conference’s Scientific Steering Committee.

    “This conference is not just a milestone for how the research community thinks about co-designing its priorities with diverse voices from across society. It has also issued a call to strengthen the social sciences so that we can better understand complex questions like the role of informal settlements in addressing climate change. We can only create real transformative changes in cities through research focusing on issues of equity, power distribution, integration of values, and human behaviour,” said Anne-Hélène Prieur-Richard, Global Hub Director, Montreal, of Future Earth and one of the members of the conference’s Organising Committee.

  • Nigerian clergy hits top 40 on Global music charts

    A Nigerian Catholic Priest, Reverend Father Christian Achinivu, has emerged amongst world top 40 Best Singers and Songwriters in Reverbnation Charts Ranking.

    Reverbnation is home to over four million artists in the world and one of the top music ranking places especially for independent artists.

    Expressing joy and appreciation to God, the Priest popularly known as ‘Father Paiko’ on Saturday told newsmen that his first ranking was a day after his music was first introduced into reverbnation.

    According to him, “my first album placed me at number 3,900 out of millions of Singer/Songwriters on the Global Charts of Reverbnation.

    “I am grateful to God, fans and friends. The new ranking which placed me at 36th Globally was announced on February 8th, 2018, after I joined the charts in January this year.”

    He added that the ranking kept increasing on daily basis despite beginning with less than 200 fans until he entered the first 100 in ranking.

  • Firm’s Naira-based platform brings global markets to Nigeria

    • 5000 trading accounts attracted in two years

    or Nigerians seeking to build alternative stream of incomes and experienced investors seeking diversification of assets, one of Africa’s most innovative financial technology companies, Eagle Global Markets (EGM) has opened up a seamless, hassle-free opportunity to trade on more than 1,000 global markets financial products, using the Naira.

    EGM, which added the innovative ‘Naira Cloudtrade’platform to its existing United States Dollar MT4 platform, said the Naira-based platform is a game changer that brings the global markets to the palms of Nigerians.

    Co-Founder, Eagle Global Markets (EGM), Gbite Oduneye, said the Naira-based platform provides Nigerian traders access to more than 1,000 global markets financial products, using the local currency.

    “We have two platforms: the ‘Naira Cloudtrade’ and then the US Dollar MT4, which is the only one other players in the industry offer to their clients. EGM makes the investing world a much smaller place by breaking down barriers, making it possible for Nigerians to trade more than 1000 financial products with Naira,” Oduneye said.

    While taking some investment journalists through the rudiments of trading global markets, Oduneye said with the EGM platforms, investors and traders can trade on a wide range of instruments ranging from international equities, commodities such as crude oil, gold and silver; indices, currency pairs and derivatives of global companies such as Facebook, Google and Snapchat, among others.

    He pointed out that EGM provides Nigerians opportunities to make incomes from global developments, citing the recent fluctuations in the global markets when Dow Jones recorded one of largest drops in its history as well as fluctuations in oil prices as tradable information for traders.

    “In times gone by, this would have constituted only engaging conversation, but now one can generate an income from taking advantage of these moves from the comfort of one’s mobile phone with Naira,” Oduneye said.

    According to him, EGM has come to solve many challenges associated with global trading for individual investors and traders. While global financial market place has a significant impact on people’s day to day lives, it is very difficult to participate and benefit from global trends as an individual. Capital requirements, data costs and transparency are just a few of the many reasons why trading non-domestic products appears prohibitive.

    To complicate matters further, converting in and out of the local base currency is inefficient and sometimes the gains made from the investment are significantly impacted by the simple process of exchanging currency.

    He noted that EGM sets out to ensure that online trading becomes Nigerian run for the Nigerian people by educating and nurturing its clients into confident self-directed traders, who want the freedom the company’s multi asset, multi device trading platform delivers.

    “We have experienced account managers, who guide our clients. We are one of the most innovative financial technology (Fintech) companies in Africa. We offer tight spreads, Mobile apps: Android and Apple; and Fast Trade Execution. Our clients are at the heart of our business and we provide the best client management in the industry.

    “In less than two years we have grown our clientele base considerably from a mere 500 to 5000 and still counting. This is driven by our commitment to professionally advise and educate our clients. Education is at the heart of our business, we offer free seminars in our Ikoyi office as well as our EGM Academy in Ikeja. We are looking to open in Ibadan in the next quarter of this year.

    “We enable clients diversify their portfolios by taking advantage of opportunities that exist in global markets. We enable Nigerians to earn extra income and provide jobs for our introductory brokers. We offer the highest level of compliance with our Financial Conduct Authority (FCA)-regulated technology partners. We hold all clients funds in segregated accounts,” Oduneye said.

    Director of Operations, Eagle Global Markets, Temitayo Sanusi, said the company was always working towards the highest level of compliance possible by ensuring due diligence is always carried out and Know Your Customers (KYCs) requirements are adhered to.

    Sales Manager, Eagle Global Markets, Barbara Aleshe also said the company usually provides supports for its clients by providing the highest level of customer care and back-office support, adding that EGM goes the extra length of training clients to understand market psychology.

    “Education is very important in trading global markets. The emotions, sensations or psychology of trading are very important and go a long way in determining success. In trading global markets, trading psychology and training are what most brokers do not impact on their clients,” Aleshe said.

    “We have one of the best education facilities in the country. We offer free courses at our office in Ikoyi and training academy in Ikeja to all levels of traders. From clients that have never traded before to expert traders, we equipped them so they can earn from global markets even while they are asleep,” Yetunde Shogo, another sales manager at EGM, said.

  • Nigerian equities decline despite global recovery

    Nigerian equities decline despite global recovery

    Nigerian equities continued on the downtrend for the third consecutive trading session yesterday at the Nigerian Stock Exchange (NSE) as profit-taking transactions shaved off N122 billion from market values of quoted shares.

    Despite global equities recovery, underlying profit-taking trend continued to dominate transactions at the stock market, after Nigerian equities hit a high of N16 trillion last weekend. Most analysts expected the market to regain its rally as the sustained depreciation continues to throw up attractive valuations.

    With more than two losers for every gainer, benchmark indices at the NSE indicated a day-on-day decline of 0.77 per cent yesterday, equivalent to net capital loss of N122 billion. This brought the total capital loss for the three consecutive trading sessions to N395 billion. Average year-to-date return also trended downward to 13.85 per cent at the end of the five-hour trading session yesterday.

    “Against the backdrop of sustained profit taking since the start of the week, we expect performance in subsequent trading sessions to remain negative. However, in light of lower pricing on fundamentally sound stocks we also anticipate more activity in the coming week as investors seek bargain opportunities,” Afrinvest Securities-a Lagos-based dealer at the NSE stated.

    The All Share Index (ASI)-the benchmark index that tracks share prices at the Exchange, declined to 43,538.16 points from its opening index of 43,877.30 points. Aggregate market value of all quoted equities also dropped from its opening value of N15.746 trillion to close at N15.624 trillion.

    All sectoral indices also closed negative with the exception of the NSE Banking Index, which rose by 0.6 per cent. The NSE Industrial Goods Index declined by 1.1 per cent. The NSE Insurance Index and NSE Oil & Gas Index dropped by 0.8 per cent each while the NSE Consumer Goods Index declined by 0.3 per cent.

    United States (U.S.) shares gained in early trade yesterday, but continued to fluctuate as investors digested several frantic days of trading.

    The Dow Jones and S&P 500 rose about 0.5%, while the Nasdaq edged up 0.1%.

    The rise extended Tuesday’s gains and followed volatile trading, triggered in part by concern over the prospect of higher interest rates.

    European stock markets also recovered ground on Wednesday, but a rally in Asia faded.

    London’s FTSE 100 closed 1.9% higher, in Paris the Cac-40 rose by 1.8% and Frankfurt’s Dax was up by 1.6%.