Economy
Official and parallel markets near convergence as naira hits N1,500 per dollar
The official and parallel markets are trading at almost the same rates following the crash of the naira against the dollar in the last three weeks.
Asian markets mixed as traders pause ahead of US inflation data
Equities fluctuated Monday as traders took a breather after the past weeks' healthy run as they absorbed weak Chinese data and reports that the United States planned to ramp up tariffs on clean energy products from the Asian country.
Cambodia's famed Kampot pepper withers in scorching heatwave
Farmer Chhim Laem shakes his head as he walks between long rows of dead bushes, their brown leaves scorched by heat and drought that have devastated Cambodia's famed Kampot pepper crop. The Kampot region produced about 120 tonnes of peppercorns last year, but farmers say that excessive heat and rain have made 2024 the worst on record.
Archegos founder to go on trial for fraud, market manipulation
Archegos founder Bill Hwang will go on trial Monday for alleged securities fraud and market manipulation, prosecutors said, following the fund's spectacular 2021 implosion that cost large banks billions of dollars.
Mercedes workers in Alabama to vote whether to join US union
The US auto workers union's drive to organize auto plants in the southern United States faces a second test this week at Mercedes-Benz in Alabama following a triumph last month.
Amazon plans to invest 1.2 bn euros in France: Macron's office
US e-commerce giant Amazon will invest more than 1.2 billion euros in France, creating more than 3,000 jobs, French President Emmanuel Macron's office said on Sunday. As Choose France prepared to get under way, several pharmaceutical groups, including US group Pfizer and Britain's AstraZeneca, announced on Sunday commitments to invest more than a billion euros more in France's health sector.
Nigeria expecting another $2.25 billion World Bank loans as details show country’s top 5 creditors
The Nigerian government is reportedly expecting another $2.25 billion loan from the World Bank to enhance its economic activities from 2024 to 2028.
Boeing's problems rattle US aviation regulator as well
The US Federal Aviation Administration, sharply criticized after the crashes of two Boeing planes in 2018 and 2019, is again being dragged into a maelstrom surrounding the major American aerospace manufacturer.
New York gears up for major Spring auctions after soft 2023
New York's major auction houses were preparing for the start of their all-important Spring sales on Monday even as Christie's came under a cyberattack that affected its website. Christie's, which confirmed it was the victim of a cyberattack on its systems, including the website, expects to bring in between $578 million and $846 million for the sale of some 900 works.
Economy
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