BRICS leaders meeting in Rio de Janeiro from Sunday are expected to decry US President Donald Trump's "indiscriminate" trade tariffs, saying they are illegal and risk hurting the global economy. It warns that such measures "threaten to further reduce global trade" and are "affecting the prospects for global economic development."
The uncertainty kicked up by Donald Trump's stop-start tariff rollout will undoubtedly hit growth, the president of the World Bank said Wednesday, ahead of next week's semi-annual meeting of global financial leaders in Washington.
One of the architects of US President Donald Trump's tariff blitz has advocated a shake-up of the global trade and financial systems, centred on a radical strategy to weaken the dollar. - 'Mar-a-Lago Accord' - For Miran, tariffs and moving away from a strong dollar could have "the broadest ramifications of any policies in decades, fundamentally reshaping the global trade and financial systems".
NAFDAC confirms that adulterated palm oil samples with high acid and carcinogenic elements are now in six Nigerian states. Learn how to identify them.
The Bank of Canada on Wednesday held its key lending rate at 2.75 percent, pausing a stream of recent cuts due to shifting US trade policy and tariffs. "The major shift in direction of US trade policy and the unpredictability of tariffs have increased uncertainty, diminished prospects for economic growth, and raised inflation expectations," the central bank said in a statement.
Haulage costs at Lagos seaports have dropped by over 60% in just one week. Truckers and cargo operators have different explanations for this price drop.
Global trade is expected to plummet this year in the wake of President Donald Trump's tariff offensive, fuelling uncertainty that threatens "severe negative consequences" for the world, the World Trade Organization warned Wednesday.
The Nigerian government has signed and submitted its ECOWAS Tariff Offer to the African Continental Free Trade Area, establishing a 90% duty waiver on the continent.
Google on Wednesday said it would "vigorously" defend itself after some 250,000 UK businesses filed a multi-billion-pound legal claim against the US tech giant for allegedly overcharging for online advertising.
Nigeria's federal, state, and local governments face declining revenue as federal allocations decrease again. FAAC allocations breakdown gives the details.
Economy
Load more