UK, France, Germany, and Italy ready to ease sanctions on Iran if nuclear concerns are addressed, following US-Iran peace talks aimed at reducing regional tensions.
IMF has advised Nigeria to introduce fuel and telecom taxes to boost revenue, warning of higher costs, inflation, and economic pressure on households nationwide.
Uncertainty about the upcoming US elections had cooled economic activity across the country, the Federal Reserve said Wednesday, noting that many businesses and consumers were pausing major decisions until after Election Day.
The federal government's foreign exchange subsidy plan caused a significant loss of N13.2trn in lost revenue between 2021 and 2023, according to the World Bank.
Australian mining giant BHP on Wednesday denied responsibility for a 2015 dam collapse in Brazil, one of the country's worst environmental disasters, as it opened its defence at the High Court in London. The Australian mining giant has also said that the quality of river water contaminated by the fallout has returned to pre-disaster levels.
The European Central Bank should keep a close eye on the rise in emerging currencies like the Chinese yuan, its President Christine Lagarde said Wednesday at an event in Washington.
Sales of previously owned US homes slowed to their lowest rate in nearly 14 years last month, according to industry data released Wednesday, despite cooler mortgage rates. Part of the reason home sales have been stalling is that existing homeowners are reluctant to enter the market after having locked in lower mortgage rates previously.
Canada's central bank cut its key interest rate by half a point Wednesday, reducing it to 3.75 percent and offering borrowers further relief as it claimed the battle against inflation had proven successful.
The federal government of Nigeria is determined to find solutions to the current state of the naira in the foreign exchange markets and discuss those solutions.
The Chinese government should use its tax-and-spend policies to help boost flagging economic growth, a senior IMF official told AFP ahead of key meetings this week in Washington.
US chipmaker Wolfspeed and the auto supplier ZF have put plans for a semiconductor factory in Germany on ice, local officials said Wednesday, striking another blow to Berlin's chipmaking ambitions. The delay to the factory, which was intended to break ground next year, comes after other planned investments by chipmakers in Germany have been thrown up in the air.
Economy
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