A prominent Nigerian pastor has shared a fresh prophecy in response to recent military action threats by Donald Trump and the United States (US).
The federal government, through the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has announced a plan to disburse N50,000 to small businesses.
Beijing said Friday it had filed an appeal with the World Trade Organization over the European Union's imposition of additional tariffs on imports of electric vehicles from China. "On August 9, China appealed to the World Trade Organization's dispute settlement mechanism over the EU's temporary anti-subsidy measures on EVs," a spokesperson for the country's commerce ministry said in a statement.
The Nigerian currency, the naira continued its gain in the official market on Wednesday, trading at N1,597.52 per dollar after the CBN sold Forex to dealers banks.
E-commerce tycoon Colin Huang has become China's richest man, an index showed Friday, capping an ascent for the former Google employee whose shopping site Temu has sucked in consumers with its low prices and all-powerful algorithms. In 2015 he founded online shopping site Pinduoduo, which blossomed into one of China's most successful e-commerce empires -- rivalling Jack Ma's Alibaba.
Asian stocks rallied Friday as investors breathed a sigh of relief after US jobs data soothed concerns that the world's top economy could tip into recession, bringing a painful week to a positive end. "The path of policy will be determined by the data and the strength of the economy."
The banking industry's lending rates surged to as high as 60% yearly in June due to the impact of high interest rates, which reduced credit to the private sector.
Donald Trump on Thursday voiced frustration at the independence of the Federal Reserve and suggested that the US president should have "at least a say" over the course of monetary policy. "I feel the president should have at least a say" about monetary policy, he said, adding he had "fought him very hard" on some occasions -- an apparent reference to Powell.
Apple on Thursday announced changes to its App Store after the European Union accused the iPhone maker of breaking the bloc's landmark new digital rules. The EU said the App Store terms prevented app developers from freely steering consumers to alternative ways to pay, making Apple the first ever tech firm to face accusations of breaching a new law known as the Digital Markets Act (DMA).
Flying can be a nerve-wracking experience for many people -- but a new study out Thursday finds commercial air travel keeps getting safer, with the risk of death halving every decade. The last major commercial airline disaster in the United States was in 2009, when Colgan Air flight 3407 crashed, killing 50 people.
The Central Bank of Nigeria has reported a growth in the amount of currency in circulation, which hit a high of N4.04 trn, and money outside the banks at N3.87trn
Economy
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