Economy
London's iconic BT Tower sold to become hotel
British telecoms giant BT Group announced Tuesday the sale of its famous BT Tower and that the building located in the heart of London will be transformed into a hotel. "MCR Hotels... plan to preserve BT Tower as an iconic hotel, securing its place as a London landmark for the future," BT said in a statement.
Gaza, Ukraine loom large as G20 foreign ministers meet
Foreign ministers of the G20 group of nations open a two-day meeting Wednesday in Brazil, with a bleak outlook for progress on a thorny agenda of conflicts and crises, from the Gaza and Ukraine wars to growing polarization. The outlook is similarly grim on Russia's war in Ukraine, which also has G20 members divided.
FG moves against Forex speculators, black market operators as naira Hits N1,900 per dollar
The Nigerian government has declared war on foreign exchange speculators, whom the government said are responsible for the poor performance of the naira.
Germany cuts 2024 growth forecast as economic woes pile up
The German government slashed its growth forecast for 2024 on Wednesday, warning that Europe's largest economy was in "difficult waters" as it faced a series of headwinds. "The German economy is still in difficult waters," Hebestreit told reporters.
Food watchdog lodges complaint over Nestle mineral water 'fraud'
Consumer watchdog Foodwatch said it was filing a legal complaint Wednesday against food giant Nestle and another group over them allegedly fraudulently treating water for their top mineral water brands. Foodwatch said it was lodging its complaint with a Paris court against Nestle Waters, behind brands such as Perrier and Vittel, and the Sources Alma group, which also owns several water labels.
Nigerians react as Customs move to distribute rice, other seized food items to Nigerians
Nigerians have expressed scepticism over the decision of the Nigeria Customs Service to distribute seized food items to Nigerians to mitigate hardships.
France seeks to placate farmers as protests flare up again
France's Prime Minister Gabriel Attal sought to head off fresh farmers' protests Wednesday, as they resumed direct action including dumping produce and blocking roads in pursuit of their demands. In some of the angriest protests in Europe, French farmers were out in force for more than a week in January, using tractors to block key roads into Paris and other major highways nationwide.
'You can't imagine the damage': Dam threatens historic Laos town
A short boat ride upstream from the ancient Laotian royal capital of Luang Prabang, a massive dam is under construction that critics say threatens the riverside town's allure and heritage status. But Anda Yangsenexay, deputy head of Luang Prabang World Heritage Management Division, insisted there was no issue with the construction of the hydro dam.
Fitch expects Nigerian banks to record more bad loans, assigns ratings for GTB, Access, UBA, others
A quicker rise in non-performing loans in Nigerian banks is anticipated by Fitch Ratings due to the recent devaluation of the naira, according to a statement.
Economy
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