Economy
TotalEnergies Uganda oil project 'devastating': conservationist
Production has yet to begin, but TotalEnergies' controversial East African oil project is already taking a dire environmental toll in Uganda's largest national parks, a leading conservationist group said Friday.
Naira crushed again in official, parallel markets as dollar inflow improves
The Nigerian currency, the naira, again depreciated in the official and parallel markets, trading at N1,554.66 and N1,570 per dollar respectively.
“Naira will appreciate”: Tinubu scores first as FX reserves exceed $35 billion
Nigeria's external reserves have risen to a new high of $35.05 billion as of June 8, 2024, according to data from the Central Bank of Nigeria (CBN).
Ericsson posts $1bn quarterly loss on Vonage write down
Swedish telecommunications equipment manufacturer Ericsson said Friday it had suffered a $1.0 billion quarterly loss after writing down the value of its purchase of US cloud-based communications operator Vonage. Another write down of 11.4 billion Swedish kronor ($1.1 billion), mostly attributable to Vonage, was behind the 1.0 billion kronor loss in the second quarter.
Day labourers seek dwindling jobs pre-dawn in Shanghai suburb
A dozen men crowded around an employment agent early in the morning in suburban Shanghai, waving their identification cards as they scrambled to secure a 12-hour shift at a warehouse. "We need people who are strong," the agent told the group, warning them that temperatures were high inside the warehouse due to the summer weather.
Stocks up on US rate hopes, yen holds gains amid intervention talk
Asian markets mostly rose Friday after a largely negative day on Wall Street despite growing confidence of a US interest rate cut, while the yen saw big swings as speculation swirled that Japan had stepped into forex markets to support the currency.
“There will be a reshuffle”: Prophet Samuel predicts brighter future for Nigeria after July
Prophet Samuel has asked Nigerians to expect a divine reshuffling in Nigeria after July, warning of consequences without governance improvements.
2024 bull market leaves out US small caps, so far
A famous aphorism holds that a "rising tide lifts all boats," but small capitalization equities are still waiting for a boost from the 2024 bull market on Wall Street. Smaller equities "tend to get hurt more by the higher rates," said Sam Burns, chief strategist at Mill Street Research.
“It’s a good move”: Group commends Uzodimma, Ihedioha on Imo Quality Assurance Centre
A socio-economic group has praised former Imo State governor, Emeka Ihedioha and his predecessor, Hope Uzodimma on the Afreximbank Quality Assurance Testing Centre.
Economy
Load more