Economy
Naira sets new record in official, black market as Dangote, BUA, others agree to slash cement price
The Nigerian currency, the naira, plunged to the lowest in the official and parallel markets on Monday, February 19, 2024, as cement manufacturers slashed price.
Tech titans yield to new EU rules before March deadline
2024 will be a year of change for the world's biggest tech companies as they bow to EU rules that come into force next month, shaking up how Europeans use vastly popular platforms from Google to Instagram.
Shipping insurance rates soar on Red Sea missile attacks
Attacks by Yemen's Huthi rebels on commercial ships in the Red Sea have sent insurance premiums surging, exacerbating costs already stretched by soaring freight rates and longer alternative trade routes. The Huthis have carried out relentless attacks since November on shipping transiting the Red Sea, a maritime hub through which 12 percent of global trade usually passes.
Asian markets advance after record rallies
Asian shares climbed Friday following a day of record highs in Japanese, US and European markets after demand for AI-powering chips drove tech gains. The Nvidia and AI excitement prompted a broader rally in tech shares, with Wall Street and eurozone indices hitting fresh records.
Cheap mini-EVs sparkle in China's smaller, poorer cities
Tiny electric cars weave through traffic in southern China, their cheap and cheerful designs bringing a touch of colour to the EV revolution in the country's overlooked cities. China is the world's largest market for electric vehicles (EVs), with premium models by Tesla and homegrown giant BYD a common sight in the nation's affluent megacities.
US to sanction over 500 targets involved in Russia 'war machine'
The United States plans to impose sanctions on more than 500 targets involved in Russia's war in Ukraine, as fighting continues to rage two years after Moscow's invasion, the Treasury Department said Thursday.
Swiss-Italian chocolate war set to end with sweet truce
Swiss giant Lindt said Thursday a deal may soon be reached with group of Italian artisan chocolatiers that will allow for the creation of a protected status for Turin's famed gianduiotto.
Lagos state intervenes to ease Nigeria cost of living crisis
The governor of Nigeria's Lagos state on Thursday unveiled a series of measures aimed at easing the soaring cost of living after protests broke out.
Argentine austerity anger mounts, but govt says its working
Argentine trains ground to a halt and hospitals were left running on fumes this week as austerity measures sparked mass walkouts -- even as the country boasted its first budget surplus in 12 years. In January, Argentina reported its first monthly budget surplus in 12 years, while boosting the country's meagre foreign currency reserves from $21 billion to $27 billion.
Economy
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