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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FG suspends 4% FOB Customs charge after backlash, import costs to Drop
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Naira gains massively as Nigeria’s external reserves hit $41.7 billion
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FG launches special 'TV' for Nigerian youths seeking opportunities
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Cathay inspects A350 fleet after engine component failure
Hong Kong carrier Cathay Pacific has temporarily grounded its fleet of A350 aircraft for inspections after a "first of its type" engine component failure forced a flight to Zurich to turn back on Monday. The move came after a Cathay flight to Zurich on Monday was forced to return and the company identified an engine component failure, it said, without saying which component.
'Queen of Trash' in dock in Sweden's biggest toxic waste scandal
Eleven people go on trial in Sweden on Tuesday accused of illegally dumping toxic waste in the country's biggest-ever environmental crime case. Considered Sweden's largest environmental crime case, the police investigation runs to more than 45,000 pages, with 150 witnesses due to testify.
Asian markets drift ahead of key US figures, eyes on China
Asian markets stuttered Tuesday as investors steel themselves for a high-stakes US jobs report at the end of the week while keeping tabs on China after fresh data stoked renewed worries over the world's number two economy. Nervousness over the Chinese economy was keeping buyers at bay after another round of data showed the country's manufacturing sector contracted for a fourth straight month.
Ex-Volkswagen CEO faces trial over 'dieselgate'
Former Volkswagen CEO Martin Winterkorn is set to go on trial Tuesday for his role in the "dieselgate" scandal, nine years after the saga first plunged the German auto titan into crisis. The highest-ranking former executive to have been convicted so far in the scandal is ex-Audi CEO Rupert Stadler.
UN hosts Libya rivals for central bank crisis talks
The United Nations said it held talks Monday with rival powers in Libya over the country's central bank crisis which has threatened vital oil income. The UN mission said the talks in the capital Tripoli "concluded with significant understandings" between the two sides "on ways to address" the bank crisis.
Analysts predict new naira rate against dollar, speak on growth projection
Analysts predict that following the CBN recent infusion of FX sales to BDCs, the value of the naira will stabilize at roughly N1,500 in the second half of the year.
CBN data shows amount used for debt servicing in 2024 as debt profile hits N121 trillion
The Central Bank of Nigeria (CBN) has unveiled its data on international payments, bordering on debt servicing in the first seven months of 2024.
Volkswagen mulls plant closures and job cuts in Germany
German automotive giant Volkswagen said Monday it could take the unprecedented move to close production sites in Germany and threatened further job cuts as its savings plans stalled. - 'Insufficient' - Volkswagen last year announced plans for a 10-billion-euro ($11-billion) savings programme and has flagged cuts to its workforce over the coming years to improve profitability.
State oil company’s 'financial strain' compounds Nigeria’s fuel shortage
Weeks of fuel scarcities in Nigeria are compounding a cost-of-living crisis, with the state-run oil company acknowledging "financial strain" was hampering supplies. "This financial strain has placed considerable pressure on the company and poses a threat to the sustainability of fuel supply," Soneye said in the statement.
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