The Nigerian currency, the naira, is surging against the US dollar, propelled by a combination of forex inflows and the CBN's interventions in the FX market.
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FG orders immediate release of ₦250bn loan to farmers, targets food security
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Do you need a tax ID to open a bank account in Nigeria? Here’s the truth
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FG to train 100,000 construction workers, provide job opportunities nationwide for artisans
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Naira rally narrows FX gap to just N10 as CBN targets $1bn monthly remittances
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Finally, Dangote free fuel distribution begins, new petrol prices emerge
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US imposes trade restrictions on dozens of entities with eye on China
The United States added dozens of entities to a trade blacklist Tuesday, its Commerce Department said, in part to disrupt Beijing's artificial intelligence and advanced computing capabilities. Two entities in Iran and China were also added to the list for seeking to procure US items for Iran's defense industry and drone programs, the Commerce Department said.
Lula urges Mercosur-Japan deal to counter Trump protectionism
Brazil's President Luiz Inacio Lula da Silva called Wednesday for a trade deal between South America's Mercosur bloc and Japan to counter growing US protectionism. The Keidanren business federation "urgently" called in November for "expedited efforts" towards a Japan-Mercosur Economic Partnership Agreement (EPA), an accord similar to a free trade deal.
Dangote Refinery supplies jet fuel to US as Nigerians await return to petrol sales in naira
Dangote Refinery continues to improve Nigeria's balance of trade, and has now exported six vessels of jet fuel to the US. This USD sales is a welcome move.
Financial Reporting Council sets new financial charges for companies, PEBEC begins engagement
The Presidential Enabling Business Environment Council (PEBEC) has said it is addressing issues of new charges and dues imposed on companies by FRCN.
ECB's digital euro sparks flurry of online misinformation
European Central Bank president Christine Lagarde's recent remarks on a "digital euro" prompted a fresh wave of misinformation online, highlighting an uphill battle ahead to convince the public of the project's merits. - 'Strategic autonomy' - The ECB and dozens of other central banks worldwide are exploring or putting in place central bank digital currencies (CBDCs) as cash use declines.
ECB pushes back against calls for looser bank rules
The European Central Bank has pushed back against calls to loosen rules for eurozone banks despite fears they could fall behind US rivals if President Donald Trump implements major deregulation. - Banking rules stall - Still, Montagner conceded it was ultimately not his call to set rules for the eurozone banking system -- that is up to European lawmakers.
Asian stocks rise on trade optimism, but US policy uncertainty lingers
Lingering hopes that Donald Trump's planned tariff blitz next week will not be as painful as feared helped lift Asian markets Wednesday, though uncertainty about the president's policies and the US economy tempered optimism.
Filipinos see pathway from poverty with virtual assistant jobs
Nathalie Mago's work day begins after she's tucked her three daughters into bed and flicked off the lights in their house north of the Philippine capital Manila. - Risks and rewards - A recent TikTok video with tens of thousands of likes featured a virtual assistant slowly unveiling a screenshot of her pay for five days' work -- P29,400 ($512), more than double the monthly minimum wage in Manila.
Rising seas test defenses of South American ports
When waves come crashing over the sea wall in Chile's biggest port of San Antonio, dockers run for cover. On a recent day of calm seas at San Antonio, cranes were busy moving blocks to reinforce the sea wall and top it with curved concave blocks that break the waves' momentum as part of an $11-million climate mitigation upgrade.
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