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."
According to Dr. Dele Alake, Nigeria's Minister of Solid Minerals Development, U.S. tariffs may benefit African economies by encouraging intra-African trade.
After deporting over 200 Nigerians from the US, the Department for Homeland Security is going after more foreign nationals, and has announced heavy penalties.
With oil revenues falling and the naira under renewed pressure, economists are warning of deeper macroeconomic challenges ahead. Naira has depreciated again.
Keep in mind that the government is also set to commence direct flights to other countries like Tunisia and Algeria, as part of measures to deepen bilateral ties.
Britain's government on Monday raced to secure raw materials to keep the country's last steelmaking blast furnaces running after passing emergency legislation to take control of British Steel. The Labour-run government must now secure the materials to keep the two blast furnaces at the plant -- the last in the UK which makes steel from scratch -- running.
Social media juggernaut Meta stands trial on Monday facing serious US government allegations that it abused its market power to acquire Instagram and WhatsApp before they could become competitors. Google is facing two cases and was found guilty of search-market dominance abuse last August, while Apple and Amazon are also heading to court.
The SEC statement also issued a directive to businesses already operating in this space, or planning to set up an online foreign exchange trading platform.
Where the former Investments and Securities Act (2007) had no clear penalties for Ponzi and illegal scheme operators, the new ISA 2025 recommends heavy sanctions.
The helicopter tour company behind a crash in New York that killed six people last week is shutting down, US authorities said Sunday.
Economy
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