Economy
TotalEnergies announces land review in controversial Africa projects
French energy giant TotalEnergies on Thursday said it had launched a land acquisition assessment for controversial $10-billion projects in Uganda and Tanzania slammed by environmentalists. TotalEnergies said Thursday it had named Benin's former Prime Minister Lionel Zinsou to lead its land acquisition assessment, calling him a "recognised expert in African economic development".
Asian markets extend new year retreat after Fed minutes
Asian markets continued their disappointing start to the year Thursday, tracking another loss on Wall Street after minutes from the Federal Reserve's December meeting dampened hopes for an early interest rate cut.
Private sector funding key to climate transition, World Bank chief says
The World Bank is working to slash how long it takes to get financing projects off the ground as part of a push to speed up and scale up the 79-year-old development lender, its president told AFP on Wednesday. - As part of a push to increase its climate financing, the World Bank Group recently raised its target for climate-related projects from 35 percent of its annual financing to 45 percent.
US interest rates likely to stay high 'for some time': Fed minutes
US Federal Reserve officials expect interest rates will need to remain high "for some time" to tackle stubborn inflation, according to minutes of the most recent rate decision published on Wednesday.
Argentina court suspends Milei labor reforms
Argentine judges on Wednesday suspended labor law changes that form part of a mega-decree of sweeping economic reforms and deregulation announced by the country's new libertarian president, Javier Milei.
GM rides 'strong demand' to grow US auto sales
US automaker General Motors reported Wednesday a jump in vehicle sales for 2023, citing robust demand in a year also boosted by easing supply issues. On Wednesday, it also highlighted a sharp rise in total electric vehicle sales, of nearly 76,000 units.
Ethiopia defends Somaliland deal as Somalis protest
Ethiopia insisted on Wednesday that its controversial deal with the breakaway region of Somaliland broke no laws after Somalia accused its neighbour of a blatant attack on its sovereignty. East African regional grouping IGAD voiced its "deep concern" about the developments, while the European Union insisted Somalia's sovereignty should be respected.
Tinubu makes first big move in 2024, shuts down federation account for new revenue fund
The federal government has directed all Ministries, Departments, and Agencies to remit 100% of their internally generated revenue to a new Consolidated Revenue Fund
Naira disappoints FG’s N700 per dollar projection, crashes in first trading day in 2024
The naira began 2024 on very bad note after crashing by 8.9% in the official market to trade at N988.50 per dollar and N1,220 in parallel market.
Economy
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