Two banks holding national banking licences are reportedly in talks to merge as the recapitalisation deadline set by the Central Bank of Nigeria (CBN) nears.
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Prices of rice, tomatoes, other food items soars as retailers struggle with unpredictable costs
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How the National Single Window transforms Nigerian commerce
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EU eyes higher steel tariffs, taking page from US
The EU will propose cutting steel import quotas and significantly increasing tariffs on the metal from abroad, the bloc's industry chief Stephane Sejourne told the sector on Wednesday, mirroring US moves.
Naira strengthens to 7-month high as FX inflows hit nearly $1 billion
The Nigerian foreign exchange experienced a massive dollar inflows, which hit almost $1 billion, leading to the naira crossing the N1,500 per dollar barrier.
Thousands protest in Greece over 13-hour workday plans
Thousands of Greek workers prompted large-scale disruption during a 24-hour general strike on Wednesday, protesting against the conservative government's plans to introduce a 13-hour work day. - Fragile economy - The bill, which has not yet been submitted to parliament, allows staff to work 13 hours a day for the same employer under exceptional circumstances, for extra pay.
Spanish court opens 550-mn-euro Meta data protection trial
A Spanish court opened a trial on Wednesday over a 550-million-euro lawsuit brought by more than 80 Spanish media organisations against Facebook owner Meta for allegedly breaching European Union data protection rules. Spanish radio and television stations have launched a separate lawsuit against Meta for the same reasons, seeking 160 million euros in damages.
Tinubu’s tax overhaul: Food, education, and agriculture get VAT-free relief
The chairman of the Federal Inland Revenue Service (FIRS), Zaach Adedeji, has revealed that the Nigerian government has exempted three new sectors from VAT.
Taiwan says 'will not agree' to making 50% of its chips in US
Taiwan "will not agree" to making 50 percent of its semiconductors in the United States, the island's lead tariff negotiator said Wednesday, as Washington pressures Taipei to produce more chips on US soil. More than 70 percent of the island's exports to the United States are information and communications technology, which includes chips, the cabinet said in a statement Wednesday.
India ready to rev up chipmaking, industry pioneer says
When Prime Minister Narendra Modi declared India's "late entry" into the global semiconductor race, he pinned hopes on pioneers such as Vellayan Subbiah to create a chip innovation hub. - 'More complicated'- Modi this month said that "20 percent of the global talent in semiconductor design comes from India".
Asian stocks mixed, Wall St futures drop as US heads for shutdown
Asian markets stuttered, US futures fell and gold hovered near record highs Wednesday after lawmakers in Washington failed to reach a deal to avert a government shutdown. Gold, a go-to in times of turmoil and uncertainty, was hovering just below its record high of $3,871.72 owing to a weaker dollar, bets on lower borrowing costs and worries about the impact of the shutdown.
South Korea posts record semiconductor exports in September
South Korea recorded its highest ever semiconductor exports in September, official data showed Wednesday, despite growing pressure from US tariffs and other restrictions on the crucial sector. Seoul logged more than $16.6 billion in exports of semiconductors last month, up by more than a fifth from September 2024, according to data from the country's industry ministry.
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