New data has shown that the United States of America has slashed its imports from Nigeria, plunging by 41% in one month, as tensions escalate over tariffs.
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FG orders immediate release of ₦250bn loan to farmers, targets food security
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How the National Single Window transforms Nigerian commerce
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Naira surges on CBN’s $29m intervention, analysts predict break below N1,500
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US govt protests import bans on 25 products by Nigerian govt, shares lists
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FG to train 100,000 construction workers, provide job opportunities nationwide for artisans
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Impact of US judge's ruling on Google's search dominance
Google has escaped a breakup of its Chrome browser in a major US competition case, but the judge imposed remedies whose impact remains uncertain just as AI starts to compete with search engines. Judge Amit Mehta, who found a year ago that Google illegally maintained monopolies in online search, did not order the company to sell off its widely-used Chrome browser in his Tuesday ruling.
UK govt pledges to keep grip on spending ahead of budget
Britain's finance minister Rachel Reeves on Wednesday promised to keep a "tight grip" on public spending as interest rates soar on the UK's long-term debt, and set November 26 for her annual budget speech. "We must bring inflation and borrowing costs down by keeping a tight grip on day to day spending through our non-negotiable fiscal rules," Reeves said in a statement.
EU presents Mercosur deal for member states' approval
The EU put forward a huge trade deal with South American bloc Mercosur for approval by member countries Wednesday, reassuring chief critic France it came with "robust" safeguards to protect farmers. Sensitive European products will be further protected from "any harmful surge in imports" by "robust safeguards", the commission said.
Iran's small businesses hit by rolling blackouts
Pizzeria owner Saeed is unable to take or serve orders at his restaurant in the Iranian capital, his business stalled by rolling power outages that have compounded the country's many economic woes.
Indonesian islanders take on Swiss cement group in climate case
A Swiss court on Wednesday weighed whether to hear a landmark climate case pitting residents of a tiny Indonesian island being swallowed by rising sea levels against cement giant Holcim. Environmentalists have said 11 percent of the 42-hectare (104-acre) island of Pari has already disappeared in recent years, and it could be completely under water by 2050 due to rising sea levels.
Singapore to order Meta clamp down on govt impersonator scams
Singapore will order Meta to crack down on scammers pretending to be government officials, a type of fraud that has boomed in the city-state and cost victims tens of millions of dollars, authorities said Wednesday. This will be the first time police will order an online platform to tackle the rising scam problem in the city-state, Goh said.
England moves to ban sale of energy drinks to children
High-caffeine energy drinks such as Red Bull will be banned for sale to youths under 16 in England under plans announced by the government on Wednesday. Up to a third of 13- to 16-year-olds in England are believed to consume energy drinks -- some of which contain more caffeine than two cups of coffee -- despite most supermarkets having introduced a voluntary ban, according to the government.
Shell abandons huge biofuel project in Netherlands
British oil giant Shell announced Wednesday it has abandoned construction of one of Europe's largest biofuel plants in the Netherlands, as it focuses on its fossil fuels business. Shell and rival UK energy giant BP have been walking back various climate objectives and focusing more on oil and gas to raise their profits, which has drawn criticism from environmental activists.
Japan's long-term borrowing costs, gold hit record highs
A global bond selloff extended into Asia on Wednesday with yields in Japan hitting record levels, while gold reached a new peak as investors fret about public finances in countries from Japan to the United States. The selloff in Japanese debt mirrors widespread moves in the United States and Europe, with investors spooked over substantial piles of government debt globally.
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