Economy
IMF sends special message to CBN on Nigeria's 'debt' as it repays China, others
The International Monetary Fund (IMF) has asked the Central Bank of Nigeria (CBN) to take urgent steps to address the forex backlog of $2.2bn affecting the naira.
Nigeria gets new position in latest corruption index as report shows most corrupt countries
A new report has shown that Nigeria has improved remarkably in corruption perception index, while also showing the world's most corrupt corrupt countries.
German auto supplier Continental says to cut 7,150 jobs
German auto supplier Continental said Wednesday it would cut some 7,150 posts worldwide by 2025 as the difficult switch to electric vehicles forces companies in the sector to retool. Germany's auto suppliers have been facing problems as the transition to electric mobility gathers pace, after decades relying on fossil fuel vehicles for their profits.
World demand for liquefied natural gas jumps 50% by 2040: Shell
British energy group Shell on Wednesday forecast that world demand for liquefied natural gas would jump more than 50 percent by 2040, fuelled by China dumping coal.
'Working is duty': French PM tells rail workers ahead of holiday strike
French Prime Minister Gabriel Attal on Wednesday warned train controllers against disrupting travel during school holidays as ticket inspectors geared up to strike this weekend. "The French know that going on strike is a right," Attal said, while adding pointedly that "working is a duty".
FX market sees surge in turnover as naira appreciates from N1,534 per dollar in official market
The Nigerian currency, the naira, has recovered against the US dollar in the official market after depreciating to an all-time low of N1,534 per dollar recently.
Body Shop's UK business slides into administration
The UK arm of The Body Shop, the near 50-year-old cosmetics company renowned for ethical hair and skin products, has entered administration, administrators said Tuesday, placing thousands of jobs at risk.
Sony hikes profit forecast but says PS5 sales to slow
Japan's Sony upgraded its annual net profit forecast on Wednesday but trimmed its PlayStation 5 unit's sales target, with the flagship console currently in its fourth year on the market. The conglomerate now predicts a full-year net profit of 920 billion yen ($6.1 billion) instead of its previous target of 880 billion yen.
Turkey under pressure to shut down gold mine after landlside
Calls grew in Turkey on Wednesday to shut down a controversial gold mine as hopes dimmed of rescuing nine workers trapped by a massive landslide that rolled over their open pit. Environmental advocates and local officials sought to shut down the open pit mine after a 2022 cyanide leak caused by a burst pipe.
Economy
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