Economy

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Trump tariffs threat casts chill over Canada
Trump tariffs threat casts chill over Canada
by  AFP

Canada was scrambling Tuesday to blunt the impact of US President-elect Donald Trump's threat to implement steep tariffs once he takes office, as experts warned of a potentially "catastrophic" hit to the Canadian economy.

Saudi 2025 budget sees lower deficit on spending trims
Saudi 2025 budget sees lower deficit on spending trims
by  AFP

Saudi Arabia on Tuesday approved a budget for 2025 that projected a smaller deficit than last year despite continued heavy spending on reforms to transition the economy away from oil. In 2022, Saudi Arabia recorded its first budget surplus in nearly a decade after Russia's invasion of Ukraine led to a surge in oil prices.

Sales of new US homes lowest in around two years: govt
Sales of new US homes lowest in around two years: govt
by  AFP

New home sales in the United States fell short of analyst expectations in October, hitting the lowest rate since late 2022, according to government data released Tuesday, with mortgage rates ticking up during the month. The figure in October was the lowest since late 2022, and comes as the popular 30-year fixed-rate mortgage edged up in the month.

Man Utd revenue falls as Champions League absence bites
Man Utd revenue falls as Champions League absence bites
by  AFP

Manchester United suffered a £14 million ($17.6 million) drop in total revenue to £143.1 million, taking a hit from their absence from the lucrative Champions League, first-quarter results showed Tuesday. They are predicting total revenue for 2025 of between £650 million and £670 million.

Compressed natural gas vehicles gain slow momentum in Nigeria
Compressed natural gas vehicles gain slow momentum in Nigeria
by  AFP

Car mechanic Adebola Omotosho has to drive eight kilometres across Nigeria's bustling commercial hub Lagos to fill his tank with compressed natural gas. In September 2023, Tinubu established the Presidential Compressed Natural Gas Initiative (PCNGI) to drive CNG adoption and ease Nigeria into a cleaner energy era.