Economy
Naira sets another exchange rate record, closes gap with black market, World Bank makes prediction
The naira plunged to the lowest again in the official market on Thursday, December 28, 2023, trading at N1,043.09 in the official market and rose in the black market
"It is possible": FG speaks on naira to dollar exchange rate, sets new target for 2024
The federal government has expressed optimism about the naira-to-dollar exchange rate in the new year and has set a new target to be achieved in 2024.
New year gets off to a weak start as traders eye rate cuts
Asian markets slipped Tuesday as most traders returned from the New Year break looking forward to a 2024 that is expected to see a series of Federal Reserve interest rate cuts, but to also be full of economic and political uncertainty. Despite the upbeat outlook on rates, Asian markets started the year with little fanfare, with Hong Kong and Shanghai extending their 2023 losses.
Ethiopia, Somaliland agree deal on port access
Ethiopia on Monday struck a "historic" agreement to secure a stake in the main port in Somalia's breakaway region of Somaliland as the landlocked country eyes more access to the sea, officials said. The agreement "shall pave the way to realise the aspiration of Ethiopia to secure access to the sea and diversify its access to seaport," the office said in a statement posted on X, formerly Twitter.
EU visa-free travel for Kosovo enters into force
A long-awaited European Union's visa liberalisation scheme allowing Kosovo nationals to travel to Europe's borderless zone without a visa came into force on Monday with the first travellers hailing it as a great relief.
Access Bank, Zenith, others to debit customers for stamp duty on foreign transaction from Jan 31st
From January 31, 2024, Nigerian banks will charge customers stamp duty on old foreign transactions between January 2021 to December 2023 in a recent directive
Campaigning journalist John Pilger dies aged 84
Australian-born investigative journalist and documentary maker John Pilger, known for his support for WikiLeaks founder Julian Assange and his coverage of the aftermath of Pol Pot's regime in Cambodia and the Thalidomide scandal, has died in London, his family said Sunday.
Year in review: Petrol subsidy subdues household incomes, causes high inflation in 2023
The removal of the petrol subsidy by President Bola Tinubu on May 29, 2023, caused high food inflation in Nigeria, affecting household income and livelihoods.
China's Xi hails 'resilient' economy in bullish New Year speech
President Xi Jinping said Sunday the Chinese economy had grown "more resilient and dynamic" in 2023, despite financial figures continuing to disappoint as the post-Covid recovery stalls. - Greetings to Putin - Xi sent new year greetings to Russian President Vladimir Putin earlier Sunday in which he hailed strengthening ties with Moscow in 2023, according to an official foreign ministry readout.
Economy
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