The Nigerian government reportedly spent N8.93 trillion on debt servicing in the first nine months of this year amid low oil earnings and production drops.
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Seoul says over 300 South Koreans detained in US to be released
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Civil society to Edun, Ogunjimi: Release 2025 capital budget now, pay indigenous contractors
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New law: Nigerians must get tax ID to run bank accounts, do businesses, others by 2026
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FG agency unveils N250 million fund to support local inventors
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How the National Single Window transforms Nigerian commerce
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Trump issues more letters to countries in push for tariff deals
US President Donald Trump released a fresh set of letters to trading partners Wednesday, setting out tariff rates for six countries as Washington pushes to bring about a flurry of trade deals. While the president in April imposed a 10 percent levy on almost all trading partners, he unveiled -- and then held off on -- higher rates for dozens of economies.
Copper giant Chile awaits 'official' news on US tariff raise
Chile, the world's biggest copper producer, said Wednesday it was awaiting an "official" follow-up on US President Donald Trump's announcement of a 50 percent tariff on imports of the metal. State-owned copper giant Codelco, the world's single biggest producer of the metal used in wiring, motors and renewable energy generation, also noted there had been no formal communication on the US tariffs.
X chief Yaccarino steps down after two years
Linda Yaccarino resigned Wednesday as CEO of X, the social media platform formerly known as Twitter, after two years at the helm of the Elon Musk-owned company. Yaccarino -- a former NBCUniversal advertising executive -- took over as X's CEO in June 2023, replacing Musk who had been serving in the role since his $44 billion acquisition of Twitter in October 2022.
Six rescued from cargo ship attacked in Red Sea: EU naval force
Six mariners have been rescued after a deadly attack on a cargo ship that sank off rebel-held Yemen, an EU maritime force said Wednesday, as the search continued for the rest of the crew. Earlier, the British navy's United Kingdom Maritime Trade Operations had reported five crew had been rescued after "search and rescue operations commenced overnight".
FG revisits plans to hike electricity tariffs amid mounting debts to Gencos
The federal government spends about N2 billion monthly on electricity subsidies to cover about 70% of electricity costs. This money has now hit N4 trillion debt.
Naira ends 2-week winning streak as dealers expect new debit card limits to drive demand
The Nigerian currency, the naira, has slightly reversed its gains against the dollar, after a two-week surge in the official market to close at N1,528 per dollar.
Commerzbank commits to strategy as UniCredit ups direct stake
German lender Commerzbank said Wednesday it was committed to its strategy after Italian bank UniCredit formally upped its stake in its rival, laying the ground for a potential takeover bid. Commerzbank has strongly resisted a possible takeover by UniCredit since the Italian bank announced in September it had quietly built up a stake in the German group.
Volkswagen US deliveries fall as Trump tariffs bite
Europe's largest automaker Volkswagen said Wednesday that sales into the United States had taken a hit, underscoring the impact of President Donald Trump's drastic trade measures. Carmakers have rushed to find ways to minimise the impact of the levies, with high-end automaker Mercedes-Benz on Monday saying it had delayed some US deliveries in the expectation of tariffs coming back down.
Iraq's Kurdistan enjoys all-day state electricity
More than 30 percent of Iraq's autonomous Kurdistan region now has 24-hour state electricity, authorities said Thursday, with plans to extend full coverage by the end of 2026. "Today, two million people across the Kurdistan region enjoy 24-hour electricity... that's 30 percent of the population," including the cities of Arbil, Duhok and Sulaimaniyah, said regional prime minister Masrour Barzani.
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