
The Nigerian currency, the naira, is on a bullish run against the US dollar, appreciating to N1,497 per dollar and N1,525 in the parallel segment of the FX market.
The Nigerian currency, the naira, is on a bullish run against the US dollar, appreciating to N1,497 per dollar and N1,525 in the parallel segment of the FX market.
The war in Sudan is likely to cause heavy economic damage in neighboring countries, the IMF's deputy director for Africa, Catherine Pattillo, told AFP. "What is going on there for the people in Sudan is just so heart wrenching and devastating. "You could think of Sudan (and) also some of the security issues in the Sahelian countries, also affecting growth," Pattillo said.
Britain’s new Labour government unveils its maiden budget Wednesday, with Prime Minister Keir Starmer warning of "painful" decisions over taxes and public spending. "Alongside tough decisions on spending and welfare... taxes will need to rise," Reeves wrote in the Financial Times on Thursday.
For the time being, Elon Musk's satellite internet company Starlink has temporarily stopped hiking its monthly subscription rate for its Nigerian clients.
Germany promised to dramatically boost the number of skilled Indians it permits to work in the country as Prime Minister Narendra Modi hosted Chancellor Olaf Scholz in New Delhi on Friday. His administration agreed to increase the number of visas granted annually to skilled Indian workers to 90,000, up from 20,000.
Nigeria's total domestic and external debt has hit N134.3 trillion in three months amid new borrowings by the Nigerian government under President Bola Tinubu
Russia's central bank hiked interest rates to 21 percent on Friday, taking borrowing costs to their highest level in more than 20 years amid surging inflation. Official borrowing costs in Russia have not been above 20 percent since 2003.
The Nigerian Upstream Petroleum Regulatory Commission has started the technical screening of financially eligible bidders for the 2024 licensing bid rounds.
According to data from the National Bureau of Statistics (NBS), the price of local rise increased by 152.9% to N95,738 in September 2024 from N37,853 in August.
An age-old symbol of the Portuguese capital, Lisbon's rickety yellow trams have become such a magnet for tourists that some locals complain they can no longer grab a ride. Local associations have for years demanded a more reliable public transport system for both residents and tourists.
Economy
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