On Thursday, December 4, 2025, President Bola Tinubu nominated the immediate past sole administrator of Rivers state, Ibok-Ete Ekwe Ibas, as a non-career ambassador.
The chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has clarified the government's position on TINs on bank accounts.
Many US Federal Reserve officials were leaning against another rate cut in December, meeting minutes showed Wednesday, a move sure to infuriate President Donald Trump as he pushes for lower rates. According to the minutes released Wednesday, "participants expressed strongly differing views about what policy decision would most likely be appropriate" in December.
Relief has given way to anxiety in Switzerland over the concessions made to spare the small Alpine nation from US President Donald Trump's threat of a stark 39 percent tariff. A factsheet published by the White House revealed that Switzerland agreed to recognise US vehicle safety norms, raising questions over whether the polarising cars will soon be a fixture of the country's alpine roads.
The Netherlands said Wednesday it had suspended its proposed takeover of Chinese-owned chip maker Nexperia in a sign of "good will", a move China welcomed as a positive "first step". "We see this as a show of good will," he said of his move to suspend the takeover, vowing to continue talking to Chinese officials.
EU member states Wednesday backed a new one-year delay to landmark anti-deforestation rules that have hit a wall of opposition from businesses and trading partners, diplomats told AFP. Already delayed by a year, the rollout of the law banning imports of products driving deforestation would be pushed back to the end of 2026 under plans backed by a majority of member states.
President Donald Trump's tariff hikes on dozens of trading partners hit US imports in August, according to a Wednesday report delayed by a record government shutdown that ended last week. Trade flows have been heavily swayed this year by President Donald Trump's fast-changing tariff policies, with importers rushing to stock up on inventory ahead of planned hikes in duties.
Faced with the explosive growth of online shopping platforms like Shein and Temu, the EU executive said on Wednesday it was time to reform consumer protection rules to match the new reality in e-commerce. "We must ensure that EU consumer law continues to provide strong protection, safeguarding consumer autonomy and freedom of choice," EU commissioner Michael McGrath said.
The opening of a mammoth German rail project, which has become emblematic of the infrastructure woes plaguing Europe's biggest economy, has been delayed yet again, reports said Wednesday. The project has come to symbolise the deterioration of German rail services in recent years, and more broadly the country's infrastructure, from crumbling bridges to patchy internet coverage.
The Netherlands has suspended its proposed takeover of Chinese-owned chip maker Nexperia in a sign of "good will" towards Beijing, Dutch Economy Minister Vincent Karremans said Wednesday. On Wednesday, Karremans said that "in light of recent developments, I consider it the right moment to take a constructive step by suspending my order under the Goods Availability Act regarding Nexperia".
China has reclaimed its title as Germany's top trading partner, dethroning the United States after President Donald Trump launched his tariff onslaught, official data showed Wednesday. China had already been Germany's top trading partner from 2016 to 2023 but the United States jumped into the top spot in 2024, as Berlin sought to reduce a long-standing economic reliance on China.
Economy
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