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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US finalizes $20 bn economic lifeline for Argentina, buys pesos
US Treasury Secretary Scott Bessent said Thursday that Washington had bought Argentine pesos and finalized a $20 billion economic support program to help prop up the South American nation's faltering finances. "Additionally, we have finalized a $20 billion currency swap framework with Argentina's central bank."
Naira gains against USD: Global investors return as confidence floods Nigerian market
The Nigerian currency has staged a comeback against the US dollar amid renewed investor confidence, which has repositioned the Nigerian economy globally.
Serbia faces 'extremely serious' impacts as sanctions hit oil firm
Serbia's president warned that US sanctions on the Russian-controlled operator of the Balkan nation's only oil refinery that took effect on Thursday put it in an "extremely serious" position. President Aleksandar Vucic warned of "extremely serious consequences for our entire nation" in a television address on Thursday.
Danish wind giant Orsted to cut workforce by a quarter
Danish offshore wind energy giant Orsted announced Thursday plans to cut 2,000 jobs, or a quarter of its workforce, by 2027 as its business struggles in the United States. The company said it needed to focus more on its European business and offshore wind, as well as improve its competitiveness.
Michelin Guide gets an appetite beyond restaurants
France's famed Michelin Guide, a reference for fine dining for more than a century, is expanding into hotel and wine recommendations as it aims to become a global lifestyle brand. Poullennec also announced Wednesday that the guide would begin doing reviews for wine, by either building on or re-branding its US-based wine magazine Robert Parker Wine Advocate.
Shein's Paris store kicks up a storm in France
Asian e-commerce giant Shein's decision to set up shop in a historic Parisian department store has ruffled feathers in the fashion capital. The company also plans to open shops at Galeries Lafayette department stores in the cities of Dijon, Reims, Grenoble, Angers and Limoges.
EU woos developing nations at investment forum
European Union chief Ursula von der Leyen pitched the bloc as a dependable partner in a transactional world Thursday as she hosted about a dozen Global South leaders at an investment conference in Brussels. "Tariffs and trade barriers are back as a tool of geopolitics and geoeconomics," von der Leyen told the Global Gateway Forum, an implicit reference to US and Chinese policies.
Ferrari goes electric with four-seat coupe 'Elettrica'
Ferrari's first electric sports car, to be released next year, will be a four-seat coupe with over 1,000 horsepower and a range of 530 kilometres (329 miles), the company announced Thursday.
British PM Starmer hails India opportunities after trade deal
British Prime Minister Keir Starmer touted "unparalleled" opportunities opening up in India as he made his inaugural visit to the country on Wednesday, seeking to promote a trade deal signed this summer. The two-day visit comes after the countries signed a major trade accord in London in July.
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