The Central Bank of Nigeria has finally harmonised the official FX rate for Customs duty with the prevailing market rates amid the naira's recent gains.
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Naira gains strength as gap between official and black market rates narrows to just N2
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China lifts rock lobster ban, bringing end to Australian trade barriers
China has lifted a ban on imports of Australian live rock lobsters, Canberra said Friday, demolishing the final barrier in a broader, multibillion-dollar trade war between the countries. "This is great news for our live rock lobster producers and fishers here in Australia, and importantly, it means that they can now apply for import permits to go back into this market."
Hope of increased power supply as Lagos takes over electricity oversight from NERC
NERC has handed over the regulation of the Lagos state electricity market to LASERC, which now oversees electricity generation and distribution in Lagos.
Nigeria moves to ban Dollar, Pound Sterling, other foreign currency payment In country
A law that would forbid using other currencies for payments and transactions within Nigeria passed First Reading on the floor of the Red Chamber on Tuesday.
Starbucks workers to start US strike on Friday: union
Workers at Starbucks will walk off the job Friday in three US cities in a strike their union threatened could spread around the country in the busy run-up to Christmas. The union said Starbucks had not engaged fruitfully for several months, and threatened it was ready to "show the company the consequences."
Asian markets mixed as traders digest Fed's hawkish pivot
Equities fluctuated Friday and the dollar maintained its gains against its peers as investors assessed the fallout from the Federal Reserve's outlook for interest rate cuts and possible impact of Donald Trump's presidency on the economy. The legislation would have kept the government open through March and suspended the borrowing limit for president-elect Donald Trump's first two years in office.
US Fed's caution on rate cuts could cause friction with Trump
Donald Trump's imminent return to the White House and uncertainty about his policy proposals has begun weighing on the US Federal Reserve, raising concerns of a reckoning between the central bank and the president-elect. In Trump's orbit, there is also strong disagreement that some of the proposed policies are actually inflationary.
Japanese inflation jumps to 2.7% in November
Japanese inflation accelerated in November, with prices rising 2.7 percent on-year partly due to higher energy costs, government data showed Friday. "Core core CPI", which excludes both fresh food and energy prices, stood at 2.4 percent.
New Nike CEO vows turnaround after earnings drop
Nike reported lower profits on another drop in revenue Thursday, with new CEO Elliott Hill vowing to get the slumping sports giant back on track. A self-described Nike "lifer" who first joined the company as an intern, Hill retired from the sports giant in 2020.
El Salvador plans to sell or shut its crypto wallet
El Salvador will privatize or close the cryptocurrency wallet "Chivo" created by President Nayib Bukele when he made bitcoin legal tender in 2021, an official said Thursday.
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