The Nigerian currency, the naira, gained about N37 in the last 10 days, making dollar hoarding risky, as the Central Bank of Nigeria (CBN) continues to intervene.
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Naira rally narrows FX gap to just N10 as CBN targets $1bn monthly remittances
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Over 41,000 Nigerians to benefit as NDE expands Renewed Hope employment scheme
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Naira hits highest level in months at N1,497 per dollar, black market rates appreciate
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FG orders immediate release of ₦250bn loan to farmers, targets food security
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New exchange rate: CBN crashes dollar as naira appreciates to N1,506 in official window
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Burberry warns 1,700 jobs at risk after annual loss
British luxury fashion label Burberry said Wednesday it could shed almost one-fifth of its global workforce over two years to reduce costs as it fell into an annual net loss. Net loss stood at £75 million ($99.8 million) in the 12 months to the end of March, compared to a profit of £270 million one year earlier, Burberry said in a statement.
N10 rebate to end as Dangote Refinery cancels scheduled maintenance
The refinery announced a fuel price slash to N835 on Monday, and followed it up with a temporary offer of N10 rebate on every litre. The end date is now here.
Colombia joins Belt and Road initiative as China courts Latin America
Colombia formally agreed on Wednesday to join China's vast Belt and Road infrastructure initiative, as Beijing draws Latin America closer in a bid to counter the United States. On the sidelines of a major gathering of regional leaders in Beijing on Wednesday, Colombia became the latest country to join the vast, global initiative.
Protection racket? Asian semiconductor giants fear looming tariffs
Inside one of South Korea's oldest semiconductor research institutes, the cleanrooms and workshops are calm and immaculate, but outside the Seoul National University campus, a chip storm is brewing.
Sony logs 18% annual net profit jump, forecast cautious
Japanese entertainment and electronics giant Sony on Wednesday reported an 18 percent jump in annual net profit but issued a cautious forecast for the current financial year. The firm logged a net profit of 1.14 trillion yen ($7.7 billion) for the 2024-25 financial year, but said it expects that to fall 13 percent to 930 billion yen in 2025-26.
China, US to lift sweeping tariffs in trade war climbdown
The United States and China will lift sweeping tariffs on each others' goods for 90 days on Wednesday, after a temporary ceasefire in a brutal trade war that roiled global markets and international supply chains. Under the deal, the United States agreed to lower its tariffs on Chinese goods to 30 percent while China will reduce its own to 10 percent -- down by over 100 percentage points.
Asian markets swing as China-US trade euphoria fades
Asian stocks fluctuated Wednesday, with investors struggling to track a strong day on Wall Street as euphoria over the China-US trade detente petered out. "We have the confines of a very, very strong deal with China.
Australian seaweed farm tackles burps to help climate
It is barely visible, and needs no irrigation or fertilisers: lying off the coast of Australia is a vast seaweed crop destined to curb livestock's climate-altering flatulence and belches. "Seventy-one percent of the Earth's surface is surrounded by the ocean, and seaweed require zero inputs: No irrigation, no fertiliser, no pesticides.
'Panic and paralysis': US firms fret despite China tariff reprieve
President Donald Trump's rollercoaster tariff row with Beijing has wreaked havoc on US companies that rely on Chinese manufacturing, with a temporary de-escalation only expected to partially calm the storm, analysts and business owners say.
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