Abubakar Bawa, the chairman of the PDP in Taraba State, has announced his resignation from the party amid more movements in Nigeria's political sphere.
The Nigerian government announced plans to secure $500m loan from the World Bank to boost MSME lending in Nigeria through the Development Bank of Nigeria (DBN).
The eurozone economy will grow less than expected next year, the EU executive predicted on Monday, as risks from international trade and geopolitical tensions weigh on the single currency area. The International Monetary Fund (IMF) in October predicted the US economy would grow by 2.1 percent next year.
The EU on Monday cut its eurozone growth forecast for 2026 as risks from international trade and geopolitical tensions weigh on Europe's economy. "Persistent trade policy uncertainty continues to weigh on economic activity, with tariffs and non-tariff restrictions potentially constraining EU growth more than expected," the commission said in a statement.
Prices of foodstuffs have reportedly crashed in Benue, Borno, Adamawa, and Yola, to the joy of consumers but the displeasure of traders who are incurring losses.
Switzerland's economy contracted in the third quarter of the year, suffering from high US tariffs which abruptly curtailed exports across the Atlantic, the economy ministry said on Monday. Employer federation Swissmem last week reported an overall 14.2-percent drop of Swiss exports to the US in the third quarter compared to the period a year earlier.
Asian markets struggled Monday on simmering concerns that the Federal Reserve will not cut interest rates as hoped next month, while fears of a bubble continue to weigh on sentiment. That has been compounded by a weakening US jobs market that has fanned expectations the Fed will cut rates.
Japanese tourism and retail shares fell sharply on Monday after China warned its citizens to avoid travelling to the East Asian country in a spat over comments by Prime Minister Sanae Takaichi about Taiwan. China and Japan last week summoned each other's ambassadors, with Beijing then advising its citizens to avoid travelling to Japan.
Ukraine's President Volodymyr Zelensky visits Paris on Monday in a new bid to secure weaponry to defend his country against increasingly lethal Russian missile and drone attacks. Ukraine has said it plans to use more than 4.5 million drones this year, for frontline attacks and to fight off Russian drones.
The Greenpeace environment group said Sunday that France was sending reprocessed uranium to Russia for treatment so it can be reused, despite the Kremlin's war in Ukraine. These operations have not been affected by international sanctions over the Ukraine war.
The Central Bank of Nigeria (CBN) has intervened in the forex market with $50 million sales to authorised dealer banks and FX operators to ease demand on the naira.
Economy
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