Economy
Economic outlook keeps investors wary on Nigeria
Record inflation, a sliding naira currency and weak financial structure are keeping investors wary of Nigeria, Africa's largest economy, with some companies even stepping away despite economic reforms under recently-elected President Bola Ahmed Tinubu. Elected on the promise of a programme called "Renewed Hope", Tinubu has repeatedly called for "patience" from Nigerians as those reforms take root.
After propelling 70-year-old Nigerian into a billionaire, world’s largest asset manager meets CBN
BlackRock Inc, the world’s largest asset manager, is discussing with the Nigerian government after acquiring Global Infrastructure Partners (GIP).
Indian tycoon Adani bets big on vast solar and wind plant
Deep in the desert along the border with Pakistan, India's most controversial billionaire is building the world's largest renewable energy park as he races to future-proof his coal-linked fortune.
ABCON finally exposes reasons behind naira depreciation as CBN moves against Forex defaulters
The Chairman of the Association of Bureau de Change Operators of Nigeria (ABCON), Aminu Gwadabe has said many Nigerians are responsible for naira depreciation.
CBN pays 14 banks’ FX backlog in bold move to strengthen the naira, set to pay foreign airlines
The Central Bank of Nigeria (CBN) said it has paid 14 banks the entire foreign exchange backlog, a move designed to boost the naira's performance against the dollar.
Asian markets track Wall St higher after tech surge
Asian markets rose Friday following a tech-led rally on Wall Street that helped soothe traders' concerns that the Federal Reserve will likely not cut interest rates as early or by as much as hoped this year. In light of the latest data, traders have lowered their bets on a March interest rate cut to a little more than 50 percent, down from 80 percent last week.
In Davos, an Australian mining boss presses industries to go green
Andrew Forrest, a blunt Australian billionaire who made his fortune in iron ore mining, stood out among the heads of emissions-spewing industries at the meeting of global elites in Davos. "I'm saying to the industrial world, if the crabby, backwards old mining industry can do it, so can everyone else," Forrest told AFP in an interview in the Swiss Alpine resort.
Japan inflation slows in December as energy bills drop
Japanese consumer inflation slowed again in December due to lower electricity and gas bills, government data showed Friday, ahead of a Bank of Japan policy decision next week. "Price increases for now are driven by external factors such as global inflation," she said ahead of Friday's data release.
France orders rare Atlantic fishing ban to protect dolphins
The French government will temporarily ban almost all commercial fishing in the Bay of Biscay to protect dolphins, much to the dismay of the industry. On Thursday, the French government broadened the ban to all ships, regardless of origin, while promising to support fishermen and fishmongers.
Economy
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