The Nigerian currency faced a renewed volatility, depreciating in the Nigerians Forein Exchange Market (NFEM) due to the shortage US dollars in the FX market.
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Customer Service Week: How FIRS boss Adedeji transformed tax Sservice, Nigerians feel the change
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New tax law replaces reliefs with rent-based deductions, capped at N500k
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US Treasury chief to speak with China counterpart as tensions flare
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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's power paradox: record renewables, continued coal
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'Why not?' Europeans warming up to Chinese electric cars
Checking out an electric vehicle made by China's BYD at the Munich auto show, German designer Tayo Osobu was impressed by the interior and said she would consider buying one. At the IAA auto fair in the German city this week, Chinese electric vehicle (EV) makers were out in force, highlighting the determination of the country's fast-growing car giants to make inroads into Europe.
China-US talks mark a 'small step' towards Xi meeting Trump
Back-to-back talks between the United States and China's top diplomats and defence chiefs could mark "a small step" towards a meeting between the leaders of the two countries, analysts said, but cautioned against expecting an imminent summit.
France political crisis looms over ECB meeting
France's political crisis will likely take centre stage at a European Central Bank meeting Thursday, with turmoil in the eurozone's second-biggest economy causing a fresh headache for policymakers. But the latest French political crisis has thrown a new curveball at the central bank for the 20 countries that use the euro.
Markets mostly up as US producer price data stokes rate cut bets
Asian equities mostly rose Thursday as investors built on this week's rally after US data ramped up expectations for a string of interest rate cuts. The data soothed worries that US President Donald Trump's tariff war would reignite inflation -- as many have warned -- and gave the Fed room to cut rates and address weakness in the jobs market.
Under US pressure, Mexico mulling 50% tariff on Chinese cars
Mexico, under pressure not to serve as a back door for Chinese goods entering the United States, has proposed a 50-percent duty on car imports from the Asian giant -- up from 15-20 percent. The White House has said Chinese producers are abusing a free-trade deal between the United States, Mexico and Canada to send goods northward over the Mexican border tariff-free.
Union to vote on deal to end strike at Boeing defense branch
Labor leaders reached a tentative agreement with Boeing that could resolve a strike in the aviation giant's defense business, the union announced Wednesday. The strike comes on the heels of a much larger stoppage in Boeing's commercial aviation business involving some 33,000 workers who halted production at Pacific Northwest factories for more than seven weeks. jmb/dw
US pharma giant Merck ditches plan for $1.4-bn research centre in UK
Merck, the US pharmaceutical group, said on Wednesday it has dropped plans to build a $1.4-billion research centre in Britain, blaming the country's "lack of investment" in the sector and its drugs prices.
Musk's title of richest person challenged by Oracle's Ellison
Billionaire Elon Musk is at risk of losing his title of world's wealthiest person to Oracle co-founder Larry Ellison, whose software giant stands poised for massive AI riches. Ellison, 81, amassed more than $100 billion in additional wealth Wednesday as Oracle shares skyrocketed after the nearly 50-year old company forecast massive revenue growth amid the artificial intelligence investment boom.
Italy to remain top wine producer in world: 2025 estimates
Italy is expected to enjoy a good 2025 harvest and clinch the world's leading producer label once again, according to estimates presented Wednesday by Italy's agriculture ministry and its wine union. Overall, Italy is regaining a lead over France, the world's second largest producer, and expected to produce 37.4 million hectolitres.
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