Economy
CBN gives important step for next-of-kin, others to claim funds in dormant accounts
The CBN is in charge of managing inactive accounts and unclaimed funds; a management committee will oversee the process, which will be run by a special office.
CBN explains sources of $2.33bn Into economy as currency dealers sell dollar at new rates
The Central Bank of Nigeria has explained that about 67.8% of FX inflow into Nigeria in the first half of 2024 came through international money transfer operators.
Lufthansa fined 'record' $4 mn for barring Jewish passengers
US authorities have hit Lufthansa with a record $4 million penalty after finding the airline discriminated against more than 100 Jewish travelers by blocking them from boarding a flight in 2022, officials said Tuesday. Lufthansa denied boarding "to everyone for the apparent misbehavior of a few, because they were openly and visibly Jewish," DOT authorities said in a filing.
Zelensky rules out ceding Ukrainian land in Victory Plan, urges NATO invite
Zelensky rules out ceding Ukrainian land in Victory Plan, urges NATO invite
Musk's X escapes tough EU competition rules
Tech billionaire Elon Musk's X platform will not face the EU's stringent competition rules aimed at keeping digital markets open, the European Commission said on Wednesday. Although Musk has escaped the DMA's crosshairs, his X platform still faces fierce scrutiny under mammoth content moderation rules, and even the risk of a large fine.
'Age of Electricity' coming as fossil fuels set to peak: IEA
More than half of the world's electricity will be generated by low-emission sources before 2030 but the deployment of clean energy is "far from uniform" across the globe, the International Energy Agency said Wednesday.
UK inflation hits three-year low, fuelling rate-cut hopes
Britain's annual inflation rate fell to a three-year low in September, official data showed Wednesday, fuelling speculation that the Bank of England will resume cutting interest rates next month. - 'Dramatic drop' - It comes after official data on Tuesday showed an easing in Britain's unemployment rate and wage growth, which also bolstered analysts expectations of a rate cut.
World heading into 'the Age of Electricity': IEA
More than half of the world's electricity will be produced by low-emission sources before 2030 but the deployment of clean energy is "far from uniform" across the globe, the International Energy Agency said Wednesday.
China set to post slowest quarterly growth this year: analysts
China's economy likely expanded at its slowest pace this year, according to an AFP survey ahead of data Friday, as authorities struggle to reignite consumption amid a chronic debt crisis in the property sector.
Economy
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