Economy
IMF, World Bank warn Gaza war, Red Sea attacks imperil global economy
The IMF and World Bank warned on Monday that the Gaza war and the related attacks on shipping though the Red Sea pose threats to the global economy. Also speaking at the summit, World Bank President Ajay Banga said that "what's going on Gaza, but also the challenges of Ukraine... and the Red Sea" are among the top challenges to the global economic outlook.
CBN sends message to Access, Zenith, UBA, others on ‘new’ dollar rates as IMTOs take action
The Central Bank of Nigeria has disclosed that commercial banks can now fix their own foreign exchange rates on a Willing Buyer and Willing Seller basis.
Court orders Netherlands to stop F-35 parts delivery to Israel
The Netherlands must stop delivering parts for F-35 fighter jets used by Israel in the Gaza Strip, after a Dutch court Monday upheld an appeal by human rights organisations. Government lawyers also argued that if the Dutch did not supply the parts from the warehouse based in the Netherlands, Israel could easily procure them elsewhere.
Chile on green hydrogen investment hunt in Europe
Chile is embarking on a European hunt for investors in solar, wind and green hydrogen technologies as it looks to decarbonise copper mines and other industries reliant on fossil fuels. To reduce copper's carbon footprint, the country can count on solar power near copper mining areas in the north and wind in the south, Kulka said.
Gas booming for UN COP29 host Azerbaijan
Following the UN's COP28 climate talks in oil-fuelled Dubai, the COP29 conference is headed for the historic cradle of oil, Azerbaijan, which is in the midst of a gas boom.
Asian markets mixed ahead of US inflation data
Markets were mixed in Asia on Monday in holiday-thinned trade as investors look ahead to the release of crucial US inflation data due this week. Comments from Fed officials in recent weeks have pushed back against market bets on a series of cuts this year starting in March, with commentators now tipping a first move in May.
CAC, Moniepoint commence registration of two million small businesses in Nigeria
The Corporate Affairs Commission, in patnership with Moniepoint has begun the registration of two million small businesses in Nigeria to formalise the sector.
“No More N60k/50kg”: Nigerians groan as rice price hits N77,000 per bag
Nigerians are lamenting the high cost of food prices, especially rice, which has risen to N77,000 per bag as the Nigerian government orders the release of grains.
Nigeria’s FX market hits $1.83 billion in one week as naira gains in official and black markets
The Nigerian foreign exchange market recorded a remarkable $1.83 billion in forex transactions in one week, leading to the naira's appreciating marginally.
Economy
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