Economy
FG moves to crash prices of rice, maize, wheat, other food items, removes taxes on food import
The Nigerian government has opened a 150-day import duty-free window for importers to bring staple food items such as rice, maize, wheat and other commodities.
Have poor and troubled Paris suburbs won Olympic gold?
Less than 500 metres separate the Stade de France -- the sparkling centrepiece of the Paris Olympics -- and the crumbling Francs-Moisins estate plagued by poverty and crime. Back near the Francs-Moisins estate, a foot and bike bridge is being built across the Saint-Denis canal to the Stade de France, replacing an old and unreliable rotating road bridge and a steep-stepped pedestrian crossing.
Asian markets mixed after Wall Street records
Asian markets diverged Wednesday after fresh records on Wall Street and remarks by the Fed chief that hinted the US central bank would cut interest rates later this year, without offering a clear timeframe. If the Fed does cut rates in September, he added, China's central bank could follow suit.
Music catalog fund Hipgnosis sold to Blackstone
Shareholders of Hipgnosis Songs Fund, which in recent years made waves by helping popularize music rights as an asset class, have voted to accept a $1.6 billion takeover from US private equity firm Blackstone, filings showed Tuesday.
Concerns as Access, GTBank, Zenith, other banks’ borrowing from CBN hit N57 trillion in one week
Commercial banks in Nigeria have stepped up their borrowing spree from the Central Bank of Nigeria via the Standing Lending Credit Facility (SLF).
Fed's Powell says US making 'modest' progress on inflation
The US Federal Reserve is making "modest" progress in its inflation fight, the head of the US central bank told lawmakers Tuesday, on the first of two days of testimony in Congress. Speaking in Washington on Tuesday, Fed Chair Jerome Powell told lawmakers on the Senate Banking Committee that the most recent readings "have shown some modest further progress" since the first quarter of the year.
Moody's cuts Kenya debt rating further into junk territory
Moody's has downgraded Kenya's debt rating further into junk territory and warned the outlook was negative after a wave of protests led the government to abandon proposed tax hikes. The new rating, and Moody's negative outlook for the country, are likely to further increase borrowing costs for the cash-strapped government.
New exchange rates as naira reverses gain, crashes in official, black markets as FX reserves rise
The naira has reversed its gains in the official and black markets, trading at N1,523.33 and N1,530 to a dollar, respectively. The fall is despite improved turnover
Moody's cuts Kenya debt rating further into junk
Moody's has downgraded Kenya's debt rating further into junk territory and warned the outlook was negative after a wave of protests led the government to abandon proposed tax hikes. The new rating, and Moody's negative outlook for the country, is likely to further increase borrowing costs for the cash-strapped government.
Economy
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