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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How the National Single Window transforms Nigerian commerce
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Farmers name those responsible for rice selling above N80,00 per bag
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New tax law replaces reliefs with rent-based deductions, capped at N500k
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US agrees to talks with Brazilian WTO delegates on tariffs
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One dead, dozens injured in Pennsylvania steel plant explosions
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Naira wobbles, Black Market, Official Window Narrow Gap as foreign reserves near $40bn
The Nigerian currency, the naira, performed mixed in the official and parallel markets on Wednesday, August 6, 2025, narrowing the gap between the windows.
Siemens warns US tariffs causing investment caution
Siemens warned on Thursday that US tariffs were prompting its customers in key sectors to slow investment decisions, even as the German industrial giant reported forecast-beating quarterly profits. CEO Roland Busch added that, in several key industries, "sales cycles have been extended and investment decisions are taking longer".
Influx of Afghan returnees fuels Kabul housing crisis
Weeks after he was forced to return from Iran, Mohammad Mohsen Zaryab was still searching for somewhere to live in Kabul, where rental prices have soared along with an influx of Afghans expelled from neighbouring countries. Multiple Kabul property dealers told AFP that rental prices had skyrocketed with the influx of returnees.
India exporters say 50% Trump levy a 'severe setback'
Indian exporters warned on Thursday that the cost of additional US tariffs risked making businesses "not viable" after President Donald Trump ordered steeper levies totalling 50 percent on imported Indian goods.
Germany factory output lowest since pandemic in 2020
German industrial production slumped to its lowest level in June since the pandemic in 2020, data showed Thursday, underlining the fragility of Europe's top economy even before higher US tariffs kicked in. Data released Thursday also showed that German exports in June to the United States -- the country's biggest trading partner -- fell 2.1 percent, after having registered a steep decline in May.
Swiss reel from 'horror scenario' after US tariff blow
Switzerland scrambled for answers Thursday after a last-gasp government mission to Washington failed to stop a 39-percent tariff blow from President Donald Trump, sparking job fears in what businesses called a "horror scenario". "The horror scenario materializes," Swissmem, the association of the mechanical and electrical engineering industry, said in a statement.
Deliveroo slips back into loss on DoorDash takeover costs
Food delivery app Deliveroo on Thursday reported that it fell back into a loss in the first half of 2025, citing costs related to its takeover by US rival DoorDash. DoorDash, which already operates in over 30 countries, is the largest food delivery app in the United States.
US tariffs prompt Toyota profit warning
US tariffs prompted Japanese auto giant Toyota on Thursday to cut its annual net profit forecast by 14 percent. - Tariffs hit forecasts - The results come after Honda said Wednesday its net profit had halved in the first quarter because of US tariffs, although it upgraded its annual profit forecast due to the deal with Washington.
China says trade jumped in July, beating forecasts
China's exports beat expectations and rose 7.2 percent year-on-year in July, official data showed Thursday, as overseas shipments buoyed its struggling economy even as it navigated a shaky trade war truce with the United States. But the figures also showed that China's exports to the United States, its largest trading partner, continued to fall, sinking 6.1 percent from the previous month.
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