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).
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Experts analyse CBN’s MPR decision, say policy should lower lending costs
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Transport costs may drop as FG distributes 4,000 electric tricycles to Nigerian youths
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Nigerians struggle as bread prices refuse to fall despite drop in cost of flour
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Belgian PM digs in against EU push to use Russian assets for Ukraine
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Driven by TikTok trends, new beauty brands target children
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New cryptocurrency may be aiding Russia to dodge sanctions
Russia could be turning to a new cryptocurrency called A7A5 to allow money to flow in and out of the country and avoid Western sanctions, experts have told AFP. Multiple rounds of international sanctions have been imposed on Moscow since its February 2022 invasion of Ukraine seeking to ramp up economic pressure to halt the war.
Naira strengthens against dollar as Nigeria’s reserves hit $38.5 billion
The Nigerian currency, the naira, rebounded in the forex market after two days of depreciation following the increase in Nigeria's foreign reserves.
Cognac maker Remy Cointreau lifts guidance after China deal
French drinks group Remy Cointreau lifted Friday its outlook for the year after a deal between the EU and China on cognac imports, but now expects a stiffer impact from US levies and the strong euro.
Small businesses warn of Trump tariff impact on toy industry at Comic-Con
Small business owners used the festive backdrop of Comic-Con on Thursday to discuss a sobering topic: the negative impact that US President Donald Trump's proposed tariffs are having on the toy industry. Flynn said the impact was already visible at Comic-Con, where he had to limit himself to a small concession stand rather than a larger exhibit space.
Volkswagen takes 1.3-bn-euro hit from Trump tariffs
German auto giant Volkswagen said Friday that tariffs imposed by US President Donald Trump had cost it 1.3 billion euros in the first half of the year as it reported falling profit. Overall net profit fell 38.5 percent year-on-year during the period to hit 7.28 billion euros ($8.54 billion).
Asian markets turn lower as trade war rally fades
Asian stocks fell Friday as their latest rally ran out of legs, with sentiment weighed by strong US jobs data that saw investors row back their expectations for interest rate cuts.
US regulators let Skydance acquire Paramount Global
US regulators on Thursday approved an $8 billion deal for Skydance to acquire Paramount Global after receiving assurances the merged company will follow Trump administration guidelines against programs promoting diversity, equity and inclusion.
US chip maker Intel says revenue rose as it cut ranks
Intel on Thursday posted quarterly revenue that topped market expectations, saying it has cut about 15 percent of its workforce to be "more agile." "Intel has completed the majority of the planned headcount actions it announced last quarter to reduce its core workforce by approximately 15 percent," the company said in an earnings release.
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