FCT Minister Nyesom Ezenwo Wike on Friday shared his thoughts on how the PDP can resolve its prolonged crisis ahead of the 2027 elections in Nigeria.
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.
The Nigerian currency, the naira, has shown a mixed reaction against the British pound and the euro following its recent crash against the dollar in all markets.
Banking giant HSBC said Wednesday that pre-tax profits in the first half of 2024 came in at $21.6 billion, slightly lower than last year's record performance. "After delivering record profits in 2023, we had another strong profit performance in the first half of 2024, which is further evidence that our strategy is working," said Noel Quinn, the group's outgoing chief executive.
The Bank of Japan lifted its main interest rate Wednesday for just the second time in 17 years in another step away from its long-standing ultra-loose monetary policies. The bank is seeking to normalise its outlier ultra-loose policies, which have driven down the value of the yen.
Nigerians are taking to social media to react to the federal government’s decision to set the price of a bag of rice at N40,000, compared to N80,000 in the market.
When Konstantinos Tsanis got his doctorate in finance in 2011 at the height of Greece's debt crisis, his chances of a well-paid job at home were pretty thin. Some 350,000 people who emigrated during the crisis have since returned, the finance ministry said in March.
The US Federal Reserve is highly unlikely to waver from its position of holding interest rates at a two-decade high on Wednesday, but could drop hints about a September start to rate cuts.
The yen extended its rally against the dollar Wednesday ahead of a much-anticipated Bank of Japan announcement, with debate centred on whether it will hike interest rates, while equities mostly rose on growing hopes for a cut in US borrowing costs.
The Australian regional airline Rex cancelled flights as it entered voluntary administration Wednesday, leaving the fate of the country's third-largest carrier in serious doubt. Australia's second-largest airline, Virgin, offered to assist Rex customers hit by flight cancellations, the administrators said.
Starbucks reported lower profits Tuesday behind broad-based sales declines, but shares rose as the company said a turnaround was on track. The company also faces pressure from activist fund Elliott Investment Management, which took a stake in the chain and is pushing for ways to boost its share price, US media have reported.
Economy
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