Economy
IMF predicts Nigeria to lose status as Africa’s biggest economy, new country emerges
A recent report by the International Monetary Fund has said that Nigeria will cease to be Africa's largest economy in 2024 to become distant behind South Africa.
China auto sector steps up Europe push with Spain plant
Chinese carmaker Chery signed a deal Friday to produce mainly electric vehicles in Spain, as Beijing's auto sector pushes ahead with plans to expand into Europe despite growing competition concerns. It is the second Chinese carmaker to set up in Europe after China's top electric carmaker BYD said in December it would build a factory in Hungary.
Kyrgyzstan's TikTok block builds censorship fears
In her photography studio in the capital of Kyrgyzstan, Aku Sharsheeva, tried unsuccessfully to connect to TikTok this week. Sharsheeva had used TikTok, which has more than one billion monthly users worldwide and is owned by Chinese tech giant ByteDance, to market her photography business.
Tesla to recall Cybertruck over acceleration defect
Tesla is recalling 3,878 Cybertruck vehicles because of a defect that can cause unintentional vehicle acceleration, increasing crash risk, according to a US notice posted this week. If the accelerator pedal becomes trapped, "the performance and operation of the pedal will be affected, which may increase the risk of a collision," Tesla said in the notice.
Nike's Germany kit deal 'inexplicable', says Adidas CEO
The sum reportedly paid by Nike to lure the German football team away from its historic partner Adidas was "inexplicable", the CEO of the German sportswear giant Bjorn Gulden told AFP in an interview. "If the numbers are right for what Nike paid the DFB, they are inexplicable for us" on the back of Adidas's own calculations, the Norwegian CEO said.
CBN governor Cardoso finally explains why naira is rising but reserve is falling
Olayemi Cardoso, Central Bank of Nigeria governor, has stated that the naira is not being safeguarded by the central bank using Nigeria's foreign reserves.
Oil surges, equities sink as Iran blasts fan MidEast escalation fears
Oil prices rallied and equities sank Friday as reports said explosions had been heard in Iran and Syria, fuelling fears of an escalation of the Middle East crisis after last weekend's missile attack on Israel by Tehran.
Mideast in 'shadow of uncertainty' due to regional conflicts: IMF
Economies in the Middle East and North Africa face a "shadow of uncertainty" from ongoing tensions in the region, a senior IMF official told AFP on Thursday. In the face of the ongoing conflicts in Gaza and Sudan, and a recent cut to oil supplies by Gulf countries, the IMF has pared back its growth outlook for the Middle East and North Africa (MENA) region once again.
Taylor Swift's 'The Tortured Poets Department' set to drop
Taylor Swift is primed to release her highly anticipated record "The Tortured Poets Department" on Friday -- the 11th studio album from the megastar who is already having a blockbuster year. Swift announced the album's release at the Grammys in February, a night that saw the 34-year-old billionaire win a record-breaking fourth Album of the Year prize.
Economy
Load more