
Nigerians are groaning under the hardship caused by inflation. The price of filling a 5kg cylinder of cooking gas increased by 10%, while 12.5kg increased by 32.5%.
Nigerians are groaning under the hardship caused by inflation. The price of filling a 5kg cylinder of cooking gas increased by 10%, while 12.5kg increased by 32.5%.
Argentina's President Javier Milei has plans to turn his country, which has one of the lowest rates of artificial intelligence (AI) use on the continent, into a world leader in the field.
The sole holdout in the US Federal Reserve's 11-to-1 vote cementing a larger interest rate cut said Friday that the move "could be interpreted as a premature declaration of victory." "I see the risk that the Committee's larger policy action could be interpreted as a premature declaration of victory on our price stability mandate," Bowman said.
Central banks face a "difficult balancing act" as they start lowering interest rates around the world in the face of falling inflation, the head of the IMF said Friday. "Central banks face a difficult balancing act," Georgieva said.
The Afreximbank has declared that the depreciation of the naira may scare away investors and it poses a big risk for future investments in the country.
Three Mile Island, the site of America's worst nuclear accident, will restart operations to provide power to Microsoft, Constellation Energy announced Friday. Constellation Energy expects the Three Mile Island reactor to go back online in 2028.
President Bola Tinubu has reacted to the announcement of Coca-Cola Hellenic Bottling Company (CCHBC) plans to invest over $1 billion in Nigeria over 5 years.
UK state debt is as big as the country's economic output for the first time since the 1960s, data showed Friday, as the new government warns of tough fiscal decisions before its maiden budget. - 'Tough decisions' - Friday's data also showed "the highest August borrowing on record, outside the (Covid) pandemic", Darren Jones, a senior official at the UK Treasury, said in a statement.
The Bank of Japan left interest rates unchanged on Friday, after a decision to hike them in July pushed the yen sharply higher and fuelled turmoil across world markets. Japanese central bank officials said borrowing costs would be left at 0.25 percent, a policy decision widely predicted after the fallout from the previous hike.
Asian markets built Friday on the latest global rally after a jumbo US interest rate cut, while the yen edged up as focus turns to the Bank of Japan policy decision later in the day. With the Fed now out the way, attention turns to the Bank of Japan as it winds up its own policy meeting.
Economy
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