The Nigerian government has asked for the speedy implementation of the Presidential Food Coordinating Unit (PFSCU) to accelerate provision of N250bn loan to farmers
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Naira surges on CBN’s $29m intervention, analysts predict break below N1,500
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Finally, Dangote free fuel distribution begins, new petrol prices emerge
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US imports from Nigeria crash by 41% as Trump's tariff escalates trade tensions
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Do you need a tax ID to open a bank account in Nigeria? Here’s the truth
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CBN crashes dollar with $29 million intervention in FX market
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Spanish PM picks minister as central bank chief, sparking row
Spanish Prime Minister Pedro Sanchez on Wednesday appointed his minister for digital affairs Jose Luis Escriva as the Bank of Spain's new governor, raising concerns about the central bank's independence. Escriva was appointed digital affairs minister last year.
US Steel warns plants could close without Nippon sale
United States Steel warned Wednesday it could shut its headquarters and factories in Pennsylvania, a key swing state in the upcoming election, if a takeover by Japan's Nippon Steel is blocked.
Fuel scarcities, price hike deepen Nigerian frustrations
After sleeping overnight in a line of cars waiting for fuel, Nigerian taxi driver Oluwashina Ilesanmi had to calculate how much a sudden petrol price increase cut into his earnings. In Lagos, Abuja and the northern city of Kano on Wednesday, some private petrol stations were closed while huge lines of cars waited overnight outside NNPC fuel stations.
German army activates air-defence system, citing Russia threat
Germany's military put a first Iris-T air-defence system into service on its own soil Wednesday having delivered several of them to war-torn Ukraine to intercept Russian rockets, drones and missiles. Scholz said that "in Ukraine, Iris-T has shot down over 250 rockets, drones and cruise missiles to date and saved countless lives".
X vows to end harvesting of EU users' personal data to train its AI
Social network X has committed to stop its much-criticised harvesting of European users' personal data to train its artificial intelligence program, Ireland's Data Protection Commission (DPC) said Wednesday.
US trade deficit widest in two years on imports surge
The US trade deficit in July expanded to its largest since mid-2022, according to government data released Wednesday, as imports rose more quickly than exports. - China trade - In July, the US goods deficit with China increased by $4.9 billion to $27.2 billion, as exports fell and imports picked up.
Gap between official, black markets widens as naira depreciation begins amid FX turnover decline
The Nigerian currency, the naira, is experiencing another round of depreciation following the fall in dollar supply in the official and parallel markets.
Ex-VW boss tells trial 'dieselgate' charges are 'implausible'
Former Volkswagen CEO Martin Winterkorn said Wednesday the charges against him were "implausible" as he testified at his trial over the "dieselgate" scandal that rocked the German auto titan. Winterkorn was CEO of Volkswagen -- whose brands range from Porsche and Audi to Seat and Skoda -- from 2007 until 2015, and resigned shortly after the scandal began.
Grenfell inferno 'culmination of decades of failure': UK inquiry
The UK's Grenfell Tower fire disaster that killed 72 people was the result of "decades of failure" by government and construction industry bodies and the "systematic dishonesty" of building material firms, a final report said Wednesday.
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