Economy
German travel giant says takes overtourism 'very seriously'
German travel giant TUI said Wednesday it takes protests against overtourism, like recent demonstrations in the Canary Islands, very seriously, while arguing that its business model was not contributing to the problem.
Taylor Swift tour hands UK economy £1 bn boost: study
Taylor Swift's worldwide Eras Tour will boost the UK economy by almost £1 billion ($1.3 billion) as fans splash the cash to see the US music star, Barclays bank estimated Wednesday. By the end of 2023, the tour became the first to sell more than $1 billion in tickets.
Qatar eyes more long-term gas supply deals this year
Qatar expects to sign more long-term natural gas supply deals this year to meet growing international demand, Energy Minister Saad al-Kaabi said on Wednesday. The minister, who is also chief executive of QatarEnergy, said the state-owned giant had secured sales of 25 million tonnes of liquified natural gas (LNG) in the past year and expected to be "signing more this year."
EU cuts inflation forecast for 2024 despite uncertainty
The EU on Wednesday predicted lower inflation in the eurozone in 2024 than previously forecast but warned the single-currency area's economy still faced risks from geopolitical tensions including wars in Ukraine and Gaza. But he warned that Wednesday's "forecast remains subject to high uncertainty and -- with two wars continuing to rage not far from home -- downside risks have increased".
Reps issue ultimatum to Dangote, BUA, other cement manufacturers on new prices
House committee has issued a 14-day ultimatum to cement manufacturers to appear before it to explain reasons for the current hike in the price of the product.
Renault to pursue autonomous minibuses but not cars
French automaker Renault said Wednesday it will pursue developing autonomous minibuses for public transit but would stick to driving assistance features for personal cars for the time being.
Naira continues free fall in all markets as Africa’s largest bank predicts New FX rate in 2024
The naira crashed again on Friday, May 13, 2024, against the US dollar in the parallel and official markets, closing at N1,478 and N1,520, respectively.
Chief of state oil company dismissed in Brazil
The CEO of Brazil's state oil company Petrobras has been sacked, the government announced Tuesday. The March announcement caused the company's share price to plummet and was seen by some analysts and opponents as direct government intervention.
Asian markets mixed as focus turns to US inflation report
Asian markets wobbled Wednesday ahead of key US inflation data later in the day, with traders struggling to pick up the baton after a record performance on Wall Street. A sense of optimism on Wall Street pushed all three main indexes higher, with the Nasdaq hitting a new record and the S&P 500 coming within a whisker of its own all-time peak.
Economy
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