The Nigerian currency, the naira, gained about N37 in the last 10 days, making dollar hoarding risky, as the Central Bank of Nigeria (CBN) continues to intervene.
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Naira hits highest level in months at N1,497 per dollar, black market rates appreciate
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Food prices: Rice, beans, garri crash in markets as Tinubu gives order to FEC
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Naira rally narrows FX gap to just N10 as CBN targets $1bn monthly remittances
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Over 41,000 Nigerians to benefit as NDE expands Renewed Hope employment scheme
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Japan shifting back to nuclear to ditch coal, power AI
Glinting in the sun by the world's biggest nuclear plant, the Sea of Japan is calm now. In addition to the recently built sea wall, an embankment has been enlarged and reinforced.
US budget deficit widens to $1.8 tn, third highest on record
The United States on Friday reported a budget deficit of $1.8 trillion for the past year, widening from 2023's level on greater spending, including for interest on the public debt. In the latest fiscal year, there was a near 30 percent rise in spending on interest on the public debt, largely due to higher interest rates, the Treasury noted.
CBN sends urgent message to dealers as naira nears N2,000/$ in black market
Authorized dealers who take advantage of the foreign exchange system will face consequences, according to Olayemi Cardoso, governor of the Central Bank of Nigeria.
'Timebomb' ship highlights hazard of dangerous cargoes
A damaged ship, spurned by European ports because of its potentially explosive cargo, has been stranded in the North Sea for weeks while authorities work out what to do with it. After the vessel set off from the Russian port of Kandalaksha on August 22, it ran into a storm in the Barents Sea and limped, damaged, into the Norwegian port of Tromso for damage inspection.
FG to tax reality TV shows and lottery winners, sets date to commence
A new tax guideline will soon see reality television and lottery winners pay about five per cent in taxes while high net-worth individuals will pay 25%.
P&G profits dip, says China recovery will take time
Procter & Gamble reported a decline in profits on slightly lower sales Friday as the company said a recovery in China was still a number of quarters away. Beauty sales were dented by volume declines in Greater China, where the super-premium SK-II skin care brand has been weak for a number of quarters.
US regulator probes Tesla's self-driving mode after crashes
The US auto safety regulator said Friday that it has opened an investigation into Tesla's Full Self-Driving (FSD) software after receiving four reports of crashes, one of which involved a pedestrian being struck and killed. "One of the crashes involved a pedestrian being struck and killed; one crash involved a reported injury," it said.
Stellantis workers march in Italy over production slump
Thousands of Stellantis workers went on strike Friday and protested in Rome over temporary layoffs and production stoppages by the maker of Fiat and Jeep in Italy. Production stoppages and temporary lay-offs have created tensions between the company and Rome.
Meta unveils AI tie-up with horror movie producers
Tech giant Meta has unveiled a partnership with horror film production company Blumhouse to road-test its latest AI video tool. But Blumhouse founder Jason Blum said he welcomed the chance to test the program while it was still being developed.
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