Economy
Macron calls in Sweden for a less regulated Europe
French President Emmanuel Macron said Wednesday that Europe needed a "smarter" and less regulated industrial and energy policies. "We need a smarter European industrial policy," he said.
Meet Africa’s worst currency which exchanges $100 for a million as naira hits lowest-ever
The Zimbabwean currency has emerged as the worst-performing currency in the world, trading above 10,000 for a US dollar as the naira crashes to N1,460 per dollar.
Weight-loss drug maker Novo Nordisk's profit surges as sales boom
Danish pharmaceutical giant Novo Nordisk posted bumper profits for 2023 on Wednesday, driven by blockbuster sales of diabetes and obesity treatments that helped it become Europe's most valuable company.
H&M shares tumble as CEO steps down
H&M chief executive Helena Helmersson announced Wednesday she was stepping down, sending shares in the fashion retailer tumbling as the Swedish company reported lower-than-expected profits in the fourth quarter. But in the fourth quarter, the fashion giant reported a four percent drop in net sales in local currencies.
Santander posts record profit in 2023 after rate hikes
Spanish banking giant Santander posted a record 11.1-billion-euro ($12 billion) net profit for 2023 on Wednesday as higher interest rates and a rise in global clients helped to cushion the impact of a windfall tax. Also Tuesday, Spain's second-largest bank BBVA posted profits of eight billion euros in 2023, in a figure 22 higher than a year earlier, which was also a record.
China quietly expanding influence in Taliban-ruled Afghanistan
While most of the world treats Afghanistan's Taliban government as a pariah, China is growing diplomatic and economic links -- and Kabul is happy for the attention. While Beijing has played down the formality of these growing links, it is steadily increasing investment and exposure -- a relationship that could benefit both parties, analysts and diplomats say.
Naira falls to lowest in history in official market, surpasses black market at N1,460 per dollar
The naira crashed to its lowest in history at the official foreign exchange market on Tuesday, January 30, 2024, surpassing the parallel market rate.
China overtook Japan as world's top vehicle exporter in 2023
China overtook Japan as the world's biggest vehicle exporter last year, data from the Japan Automobile Manufacturers Association showed Wednesday. That compared with 4.91 million exported by China, as reported by the China Association of Automobile Manufacturers this month.
The $12.5 billion fraud that has shocked Vietnam
Retired nurse Nga put her life savings into a bond at Vietnam's SCB bank, but now cannot access her money after being caught up with tens of thousands in a multibillion-dollar scam that has shocked the nation.
Economy
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