The Federal Inland Revenue Service (FIRS) under Zacch Adedeji has experienced a massive transformation with an innovative approach with a human face.
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New tax law replaces reliefs with rent-based deductions, capped at N500k
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Prices of rice, tomatoes, other food items soars as retailers struggle with unpredictable costs
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Finally, relief for naira: Nigeria’s reserves hit 5-year high amid global uncertainty
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Big win for naira: CBN announces $8.6bn FX turnover as dollar inflows surge, reserves hit new high
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China and US agree to fresh trade talks
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Chinese give guarded welcome to spending subsidies
Beijing is hoping subsidies for rice cookers, microwave ovens and smartphones can boost sluggish spending and help the country weather an economic storm from incoming US president Donald Trump.
CBN adjusts exchange rates as naira tumbles in official and parallel markets
The Nigerian currency has maintained a negative run against the naira in the official and parallel markets, losing 0.09 per cent in the official window on Wednesday.
World Bank plans $20 bn payout for Pakistan over coming decade
The World Bank plans to loan cash-strapped Pakistan $20 billion over the coming decade to nurture its private sector and bolster resilience to climate change, Prime Minister Shehbaz Sharif said. Sharif said the World Bank funding would be used for "child nutrition, quality education, clean energy, climate resilience, inclusive development and private investment".
Taiwan's TSMC says net profit rose 57% in fourth quarter
Taiwanese chipmaking giant TSMC on Thursday announced a better-than-expected net profit for the fourth quarter as it benefits from booming demand for AI technology. Net revenue for the fourth quarter rose 38.8 percent to NT$868.46 billion, TMSC said, beating forecasts.
Nintendo rumour mill in overdrive over new Switch
Speculation over Nintendo's new console, a successor to the wildly popular Switch, reached a fever pitch Thursday with specialist media predicting an imminent announcement from the Japanese gaming giant. A Nintendo spokesman told AFP on Thursday that there was "nothing we can share" regarding the announcement.
Asian stocks follow Wall St higher on welcome US inflation data
Asian markets extended a global rally Thursday after below-forecast US inflation provided a much-needed shot of relief to investors and revived hopes for interest rate cuts this year. The inflation figures tempered worries that the Federal Reserve might not cut rates this year -- or possibly even hike them -- following a blockbuster jobs report on Friday.
Toyota arm Hino makes deal to settle emission fraud case
US officials late Wednesday announced a $1.6 billion deal with Toyota subsidiary Hino Motors to settle charges it deceived regulators about the amount of emissions spewed by its diesel engines. US regulators and the state of California, which has strict vehicle emission standards, worked out criminal and civil remedies with Hino valued at more than $1.6 billion.
AFP strikes deal for France's Mistral AI to use news articles
Global news agency Agence France-Presse (AFP) and French artificial intelligence company Mistral AI have signed a deal for the start-up's chatbot to use news agency reports to respond to users' requests, executives from the two organisations said Thursday.
US firms concerned about Trump tariff, immigration plans: Fed
US businesses across the country are concerned about the economic impact of President-elect Donald Trump's proposals to raise tariffs and sharply curtail immigration, the Federal Reserve said Wednesday. Despite the worries, businesses across the Fed's 12 districts reported an overall increase in economic activity in late November and December, the Fed said.
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