Fast food giant McDonald's reported a drop in first-quarter profits Thursday as US traffic from low- and medium-income customers diminished amid economic anxiety in the wake of President Donald Trump's trade wars. Shares of McDonald's fell 1.3 percent in afternoon trading. jmb/aha
Completely CNG-powered buses that are assembled at Dana Motors' assembly factory in Isolo, Lagos, near the Oshodi-Apapa expressway, have been made public.
Days ahead of a close presidential election, two of the most prestigious liberal American newspapers have declined to give their usual endorsements to the Democratic Party candidate, sparking furious reactions.
The list of African countries with the cheapest fuel pump prices has been revealed, and Nigeria has taken a new position after government removed subsidy.
The Central Bank of Nigeria says it has teamed up with leading international money transfer operators to boost remittance inflows to $1bn through official channels.
The CBN said it has been in the process of consulting and negotiating to have Nigeria taken off the Financial Action Task Force's gray list since February 2023.
Dressed in a pristine white knit top, Robyn Qiu cut an incongruous figure in her parents' dusty, hangar-like metal hardware factory in eastern China as she gestured excitedly while an assistant filmed her on a smartphone. When Qiu was a child, her parents encouraged her to aim for a white-collar office job far from the dust and din of the factory floor.
Rows of robotic arms move with precision to assemble nickel-based battery cells on the production line at Indonesia's inaugural electric vehicle battery plant, the first in Southeast Asia. "This factory and ecosystem is very important for Indonesia's future," he said, adding that in the "near future, the material will come from Indonesia to make a battery cell, to make EVs".
The Nigerian currency, the naira, appreciated against the US dollar by N49 in the official and depreciated in the parallel window to N1,739 as FX reserves rose.
According to data from the IMF, five of Africa’s biggest economies, including Nigeria, contribute a substantial $1.4 trillion to the continent’s GDP.
Economy
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