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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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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Finally, relief for naira: Nigeria’s reserves hit 5-year high amid global uncertainty
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German factory orders drop in new blow to economy
German industrial orders unexpectedly fell in July, official data showed Friday, the latest sign that Europe's long-struggling top economy remains stuck in the doldrums. "High trade and geopolitical uncertainties" were creating volatility when it came to orders, the German economy ministry said in a statement.
Cooling US jobs market in focus as political scrutiny heats up
US employment data on Friday is expected to confirm a cooled labor market, as companies pull back on hiring amid continued uncertainty over President Donald Trump's tariffs. He also pointed to the downward revisions to hiring numbers, saying that similar things have happened this year -- amid his return to the presidency in January -- and "always to the negative."
Asian markets rally as Chinese stocks selloff eases
Asian markets mostly gained on Friday after an intense selloff of Chinese equities stalled this week, with rumours the country's financial regulators could intervene to slow the dumping. Analysts said the decline followed a Bloomberg report that China's financial regulators may implement measures to cool the pace of the selloff in stocks.
US tech titans pay hommage to Trump at White House dinner
Tech world executives showered Donald Trump with praise Thursday during a rare dinner that saw the US president host some of the most important players in AI at the White House. Notably absent from the dinner was multi-billionaire tech tycoon Elon Musk, a former Trump ally who had a spectacular falling out with the president.
Trump signs order to lower US tariffs on Japan autos to 15%
US President Donald Trump signed an order Thursday to lower tariffs on Japanese autos, as Washington moves to implement its trade pact negotiated with Tokyo. The outcome marks a win for Japan, after Tokyo's tariff envoy headed to Washington on Thursday to press Trump to sign the document for the changes -- weeks after both sides announced their agreement.
Dealers increase kerosene prices by 24.09%, residents of 10 states pay more
New NBS data shows kerosene prices rose month-on-month and year-on-year in July 2025, with Delta, Edo, and Rivers recording the highest litre prices.
France detains seven over new cryptocurrency kidnapping
French authorities have detained seven people in an investigation into the kidnapping of a young Swiss citizen believed to be the latest abduction targeting the hugely lucrative cryptocurrency world, a source close to the case said on Thursday.
Trump's pick for US Fed governor vows to uphold independence
Donald Trump's pick to join the Federal Reserve's board of governors pledged Thursday to uphold US central bank independence if confirmed, as the institution faces growing political pressure from the president to slash interest rates. The seven members of the Fed's powerful board of governors sit on the central bank's Federal Open Market Committee, which votes on interest rate decisions. bys/ksb
Big win for naira: Strong reserves, CBN's moves push dollar to lowest in months
The naira is on a strong footing against the US dollar following foreign portfolio investors' renewed confidence in the economy and the CBN's interventions.
Economy
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