Nigeria hosts the World Economic Forum on Africa summit this week under tight security after two deadly car bomb attacks raised fears about a possible spread of Islamist militant violence.

Pantech, South Korea's No.3 smartphone maker, has been under a debt-restructuring programme after suffering six consecutive quarters of losses due to fierce competition.

The UK-based luxury car maker is close to signing a deal with the Saudi government to build an assembly factory in the east of the country, according to 'The Sunday Times'.