Economy
Okada riders slash fares despite rising fuel price, cheapest in 10 states
The National Bureau of Statistics (NBS) has revealed the list of states with the most expensive, cheapest far for Okada for transportation in Nigeria.
Aid groups press to stop Sudan 'man-made' famine as 755,000 projected to starve
Aid groups are warning that Sudan's "man-made famine" could be even worse than feared, with the most catastrophic death toll the world has seen in decades, without more global pressure on warring generals. A UN-backed study said Thursday that 755,000 people are on the brink of starvation in Sudan, a death toll not seen since the 1980s when famine in Ethiopia shocked the world.
Paris Airbnb goldrush ends as Olympics approach
Parisians looking to pocket a fortune by renting out their apartments to tourists visiting the French capital for the Olympics have been left disappointed as prices crash close to the start of the Games. He pointed out that French people attending the Olympic Games are more likely to stay with friends and family.
US stocks fall after presidential debate
Wall Street stocks finished lower Friday, shrugging off better inflation data as markets weighed fallout from a US presidential debate in which incumbent Democrat Joe Biden's performance was widely panned. Biden's performance in a debate with predecessor Donald Trump was widely criticized by observers, who said it raised concerns the president is too old to run again.
EU further scrutinises Microsoft, OpenAI tie-up
The EU will examine the impact of Microsoft's multi-billion-dollar partnership with ChatGPT developer OpenAI on competition in the fast-growing AI market, the bloc's antitrust chief said Friday.
Boost for naira as Nigeria’s external reserves hit $34 billion, diaspora remittances sure
Nigeria has recorded an improvement in its external reserves, which has risen to $34 billion, the highest since March this year when it stood at $32.1bn.
EU questions Shein, Temu over consumer protection
The EU on Friday demanded wildly popular shopping platforms Shein and Temu explain what action they are taking to protect consumers, including children. "We share the commission's goal of ensuring that consumers in the EU can shop online with peace of mind, and we will continue working closely with the commission," a Shein spokesperson said.
US Fed's favored inflation measure cools slightly in May
The US Federal Reserve's favored measure of inflation eased slightly in May, according to government data published Friday, as goods prices cooled. Stripping out volatile food and energy prices, the closely watched "core" measure of inflation eased to an annual rate of 2.6 percent in May, in line with expectations -- a sign that underlying prices cooled further.
Vice President Kashim Shetima charges MSMEs on security, job creation
Vice President Kashim Shettima, has advocated for MSMEs not to focus on just job creation but to find solutions to Nigeria's security challenges and economy.
Economy
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