Economy
FG slams $10 billion fine on Binance over forex crisis as dollar crashes against naira on platform
The Nigerian government has hit Binance, a cryptocurrency platform, with a $10 billion fine over foreign exchange infractions, saying it is illegal to fix FX rates.
Crime groups shifting to fraud schemes in EU: bloc's prosecutor
Organised criminal groups are switching from riskier drug rackets to fraud in the EU and many don't hesitate to use violence to protect their activities, the bloc's chief prosecutor told AFP in an interview. "Behind this fraud in general there are a few organised crime groups that operate everywhere in Europe.
“Keep vital records and papers”: NDIC speaks on liquidating another Nigerian bank
The NDIC said Savannah Bank is not in liquidation, and it has advised bank depositors to hold onto their account documentation since the bank is still licensed
'Difficult discussions' as WTO talks extended for third time
The world's trade ministers entered a last stretch of talks on Friday following overnight negotiations as a major World Trade Organization conference postponed its closing session for a third time. "In order to give more time for negotiations, the formal closing Session of MC13 has now been postponed."
Swiss central bank head steps down in surprise move
The head of Switzerland's central bank, Thomas Jordan, will step down in September after 12 years in charge, the bank said in a surprise statement Friday. "The Bank Council and the Governing Board greatly regret Thomas Jordan’s decision, and express their sincere thanks for his many years of outstanding commitment in the interests of a stability-oriented monetary policy," it said.
French farmers protest near Paris's Arc de Triomphe
French farmers ringed Paris's famed Arc de Triomphe monument with tractors on Friday, saying the protest was aimed "at saving French agriculture", the Rural Coordination union said.
Asian markets mostly up after US gains
Asian markets were largely higher on Friday following Wall Street gains driven by tech rallies and key US inflation data that met investors' expectations. On Wall Street, the tech-linked Nasdaq set a new record, surpassing a 2021 high.
Riding high on AI, Nvidia is no bubble, says Wall Street
The emergence of AI bots like OpenAI's ChatGPT and Google's Bard has fueled a massive rise in share prices of chip-making juggernaut Nvidia, with its skyrocketing stock now making it the world's fourth biggest company by market capitalization.
Divided G20 blocked by 'impasse' over Ukraine, Gaza
The first G20 finance ministers' meeting of the year ended Thursday without a joint statement due to deep divisions over the wars in Ukraine and Gaza, officials said. - No 'business as usual' - German Finance Minister Christian Lindner had earlier said his country planned to insist any final statement address Russia's two-year-old war in Ukraine.
Economy
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