Economy
Currency Dealers, banks and others sell dollars at new rates as turnover rises in official market
The naira depreciated in all markets despite the Nigerian foreign exchange market recording an improved forex turnover on Wednesday, June 19, 2024.
Germany's coalition in impasse over 2025 budget
The three parties in the German government are locked in a bitter dispute over the 2025 budget, with experts warning the stalemate could be the final straw for the uneasy coalition. The coalition has faced many rows in the past but some pundits believe this could be the one that finally blows the government apart.
Asian markets swing as traders assess rates outlook
Asian markets drifted Thursday as investors try to gauge the outlook for US interest rates, while also keeping tabs on developments in France as it heads for crucial elections. Traders are eyeing developments in France as it heads for polls at the end of the month, with President Emmanuel Macron's centrist alliance in third place behind far-right and left parties.
As election looms, BoE set to sit tight on UK rate
The Bank of England was set to hold its interest rate steady on Thursday despite slowing UK inflation, with higher price risks and Britain's looming election preventing a cut, according to analysts. Nevertheless, the central bank "should not hesitate to cut interest rates, even during an election campaign.
Senate probe urges France stop importing Russian LNG
A Senate investigating committee called Wednesday for France to stop importing Russian liquefied natural gas (LNG) and push for the fuel to face EU sanctions.
FG secures funding to build textile firms and fuel stations selling cheaper fuel
The Minister of Trade and Investment, Doris Uzoka-Anite, said she has signed an MoU with Afreximbank on behalf of the Nigerian government for a $3bn facility.
UK inflation slows to central bank's 2% target
British inflation slowed in May to the central bank's two-percent target, official data showed Wednesday, boosting Prime Minister Rishi Sunak's struggling election campaign. Britain's economy, however, stagnated in April after emerging from recession in the first quarter of the year, official data showed last week.
EU to warn France, Italy and more over unruly budgets
The European Union is expected on Wednesday to rebuke nearly 10 governments, including France and Italy, over their excessive spending after new budget rules entered into force this year.
Chinese 'underground bankers' launder Sinaloa drug money: US
The US Justice Department on Tuesday accused Chinese "underground bankers" of helping Mexico's Sinaloa Cartel launder more than $50 million in drug trafficking proceeds. The Justice Department said the Chinese "underground bankers" had helped the cartel transfer drug profits from the United States to Mexico.
Economy
Load more