Aba Power Plc made a big decision when it invested N33 billion to provide smart meters to its customers. The project is on and over 40,000 have received meters.
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Bulgaria to get final green light to adopt euro in 2026
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CBN Releases Fresh FX rates for Access, UBA, Zenith as naira strengthens against dollar
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Cooking Gas prices surge by 32.5% in one year, reach all-time high in 2025
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Traders quote dollar at new rate as naira appreciates, exchange rate gap narrows further
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Ikeja Electric, Eko Electric, others report growth in revenues despite decline in billing efficiency
Economy Latest News
Amazon expects no disruptions as US strike goes into 2nd day
A US strike targeting Amazon in the peak festive period extended into a second day Friday as the retail behemoth said the labor action would not affect its business. The Teamsters union on Thursday launched a strike targeting seven Amazon facilities spaced around the United States.
US confirms billions in chips funds to Samsung, Texas Instruments
President Joe Biden's administration said Friday that it has cemented deals for billions in funding to South Korean semiconductor giant Samsung Electronics and Texas Instruments to boost their chipmaking facilities in the United States.
Hackers stole $2.2 billion from crypto platforms in 2024
A Chainalysis report shows that private key compromises accounted for half of the stolen cryptos in 2024, as the company warned users to secure their private keys.
Argentina's dollar craze cools under greenback-loving Milei
"Dollars, selling dollars!" "The amnesty dollars aren't yours (don't belong to the state) and you have to pay back the IMF dollars," he said.
'Dark lull' in German energy transition sparks political debate
As Germany heads for February 23 elections the grey winter weather has become a hot campaign topic because of its impact on the country's shaky green energy transition. The Scholz government defended the green energy transition despite the occasional "temporary phenomenon" of a dark lull that can drive up prices on the spot market.
EU, Swiss hail 'historic' new deal resetting relations
The European Union and Switzerland announced Friday they had sealed a new set of agreements aimed at recalibrating relations between the two neighbours. Relations plunged when Switzerland suddenly slammed the door on the talks in 2021.
Ex-IMF chief Rato gets four-year jail term in Spain for tax crimes
A Madrid court sentenced ex-IMF chief and Spanish economy minister Rodrigo Rato to more than four years in prison for tax crimes, money laundering and corruption, it said Friday. A second defendant, Domingo Plazas, was sentenced to 18 months in prison for money laundering and collaborating in two of Rato's tax offences.
Spain orders 25 more Eurofighter jets from Airbus
Spain has ordered another 25 advanced Eurofighter jets from European aerospace giant Airbus in the NATO member's drive to modernise its air force, the defence ministry said on Friday. The order "secures the supply chain in Spain and across Europe", said Mike Schoellhorn, chief executive of Airbus Defence and Space.
Fed's favored inflation gauge rises again in November
The Federal Reserve's preferred inflation measure rose for a second straight month in November, according to government data published Friday, although the increase came in a touch below expectations. The personal consumption expenditures (PCE) price index rose 2.4 percent in the 12 months to November, up from 2.3 percent in October, the Commerce Department said in a statement.
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