Two banks holding national banking licences are reportedly in talks to merge as the recapitalisation deadline set by the Central Bank of Nigeria (CBN) nears.
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Meet 10 African countries with the lowest debt to IMF in 2025, Nigeria missing
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Luxury carmaker Lotus to slash UK jobs amid US tariffs
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New tax law replaces reliefs with rent-based deductions, capped at N500k
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How the National Single Window transforms Nigerian commerce
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Naira gains ground as forex supply rises, external reserves hit $41.2 billion
Economy Latest News
Asia extends global rally as US inflation slows more than thought
Equities surged Wednesday and the dollar struggled after slower-than-forecast US inflation was seen as all but putting to bed any chance of another interest rate hike, and even allowed traders to bet on a series of cuts in the new year. Data suggests they are now betting on as much as a one percentage point cut in rates through next year.
A shirt for rice: bartering to survive in inflation-battered Argentina
An old T-shirt for a handful of rice or some eggs: ever more Argentines are relying on barter to survive in a fast-worsening economy dominating the debate ahead of presidential elections Sunday. In and around the teeming Argentine capital, it is an increasingly common sight for people to knock on doors asking for second-hand clothes to wear, barter or sell.
Japanese economy shrinks 0.5 percent in third quarter
Japan's economy contracted by a worse-than-expected 0.5 percent in the third quarter, government data showed Wednesday, in a further blow to struggling Prime Minister Fumio Kishida. The shrinking of the world's number three economy, following two consecutive quarters of growth, was worse than the market consensus of a 0.1 percent contraction.
Xi, Biden arrive for key San Francisco summit
US President Joe Biden and his Chinese counterpart Xi Jinping arrived in San Francisco on Tuesday on the eve of an eagerly awaited meeting between the leaders of the world's two largest economies. The two presidents are expected to meet for several hours Wednesday on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco.
McDonald's UK boss says fast-food chain faces weekly sex abuse claims
McDonald's boss in Britain said Tuesday the US fast-food giant faces "one to two" sexual harassment allegations from workers every week, as he vowed to tackle the issue recently exposed by the BBC. Alistair Macrow, chief executive of McDonald's UK and Ireland, told a watchdog parliamentary committee that the chain's management also receives around five reports a week of bullying.
Siemens Energy gets state-backed 15-bn-euro rescue package
Siemens Energy will receive a 15-billion-euro ($16.3-billion), state-backed rescue package, Berlin said Tuesday, as the German group struggles to overcome a crisis in its wind power unit. They are part of a 15-billion-euro package agreed with other stakeholders, including private banks and the larger Siemens conglomerate, which is a major shareholder in Siemens Energy.
No more easy money: UBA, Zenith, others update guidelines for lending to states, others
The Fiscal Responsibility Commission (FRC), has issued a template and guidelines on requirements that banks must meet before lending to state governments.
UK govt urges food delivery firms to step up vetting
The UK government on Tuesday urged online food delivery platforms such as Uber Eats, Just Eat and Deliveroo to step up driver vetting to protect people and prevent unauthorised immigrants working illegally.
Electricity workers to join NLC strike, TCN sends message to Nigerians on nationwide blackout
The National Union of Electricity Employees has announced plans to join the ongoing nationwide strike by the Nigeria Labour Congress, the Trade Union Congress (TUC).
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