The Nigerian currency, the naira, gained about N37 in the last 10 days, making dollar hoarding risky, as the Central Bank of Nigeria (CBN) continues to intervene.
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Naira hits highest level in months at N1,497 per dollar, black market rates appreciate
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Food prices: Rice, beans, garri crash in markets as Tinubu gives order to FEC
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Naira rally narrows FX gap to just N10 as CBN targets $1bn monthly remittances
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Opportunities: UNICEF internship, FG cash transfer, SMEDAN grants you shouldn't miss
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CBN recapitalisation: Two national banks enter secret merger talks to beat the deadline
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IEA says risk of oil supply disruptions is limited
The International Energy Agency said on Thursday the risk of oil supply disruptions due to the conflict between Israel and Hamas is limited but that it stands ready to intervene in markets if necessary. A surprise weekend attack by Hamas on Israel has left thousands dead and rattled oil markets amid fears that other nations might intervene and possibly disrupt shipments in the Middle East.
CBN defends naira with $5.78bn in 6 months as exchange rates hit N1,045 per dollar
The Central Bank of Nigeria (CBN) says it defended the naira with $5.78 billion in the first half of 2023 as the exchange rate between the naira and the dollar fell
EasyJet announces major Airbus deal as sector recovers
British no-frills carrier EasyJet on Thursday said it has reached a deal worth close to $20 billion for 157 Airbus planes and alterations to a previous order. Together the deal was worth $19.9 billion and "will deliver lower fuel burn, CO2 emissions and operating costs per seat", EasyJet said. burs-bcp/rl
Goldman Sachs sues Malaysia over push to redo 1MDB settlement
Goldman Sachs has sued Malaysia after the country pushed to redo a settlement over the US investment bank's role in the 1MDB multi-billion dollar scandal, the bank said Thursday. Under a 2020 settlement, Goldman paid Malaysia $2.5 billion for its role in the financial scandal, while Kuala Lumpur agreed to end all criminal proceedings against the bank.
Talks to end Hollywood actors strike 'suspended': studios
Talks between Hollywood actors and studios over an ongoing strike were suspended Wednesday, in a blow to hopes for a swift end to a crisis that has crippled the entertainment industry. But in a statement issued late Wednesday, the studios said talks had ground to a halt and would be temporarily suspended.
Wale Edun makes history as World Bank appoints him chair African Governors’ Forum
For the first time in history, Nigeria will lead the African Governors’ Forum of the World Bank, Edun will have the opportunity to present Tinubu's economic policies
Asian markets press on with rally, China fund boosts optimism
Asian stocks extended the week's gains on Thursday, undeterred by forecast-beating US wholesale inflation data as investors grew increasingly hopeful the Federal Reserve would not hike interest rates further. - Salvaging confidence - Asian markets continued the week's advances, with Tokyo and Seoul up more than one percent, while Sydney, Singapore, Taipei and Jakarta were also on the front foot.
Chickens keep Indigenous Guatemalans from migration agonies, for now
A brood of chickens cluck in the barn as Rebeca Perez collects eggs to sell in her village in western Guatemala -- an endeavor she hopes will keep her from emigrating to the United States as her brothers did, driven by poverty. Rebeca Perez went to study at the ETCAE technical school funded by the NGO in 2023, learning skills to prevent diseases among chickens and increase their egg production.
Recriminations fly in Argentina as peso flounders ahead of vote
Argentina's election campaign was marked by heated exchanges Wednesday as the incumbent president pressed charges against frontrunner candidate Javier Milei for dissing the national currency, which subsequently crashed. President Alberto Fernandez announced he had reported Milei for "public intimidation" after the candidate said Monday the Argentine peso "isn't worth excrement."
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