Economy
Ship with suspected toxic waste returns to Albania
A ship carrying hundreds of tonnes of possibly toxic industrial waste returned to Albania's largest seaport of Durres on Monday, months after setting sail to dispose of the material in Thailand. Ultimately rejected by Thailand, the ship turned back and returned to Albania after several months at sea, with stopovers in Spain, Portugal, Italy, and Turkey.
Crisis-hit VW eyeing plant closures, deep pay cuts: report
Volkswagen is considering closing several plants in Germany and slashing salaries by 10 percent as the ailing auto giant pursues a drastic cost-cutting plan, a media report said Monday. VW is also eyeing a 10-percent pay cut for all remaining staff and no salary increases in 2025 and 2026, Handelsblatt said.
Philips lowers sales outlook on drop in China orders
Dutch medical device maker Philips lowered Monday its full year sales target, blaming drop in demand from Chinese hospitals as it released third quarter results. Third quarter sales came in at 4.37 billion euros ($4.7 billion), a drop of two percent from the same period last year.
Naira may rank as worst currency globally as pressure mounts in parallel market at N1,740 per dollar
The Nigerian naira has depreciated to N1,740 per dollar in the parallel market, which may make it the worst-performing currency globally by year-end.
Oil prices tumble as Iran fears ease, yen weakens after Japan polls
Oil prices tumbled Monday with markets relieved that Israel's strikes on Iran had avoided the country's energy infrastructure while the yen fell to a three-month low after Japan's ruling party suffered an election drubbing.
Olympus CEO resigns over alleged illegal drugs purchase
The German CEO of major Japanese optical equipment manufacturer Olympus has stepped down after allegedly buying illegal drugs, the company said on Monday.
More competition as another company joins Innosson to assemble CNG buses
Completely CNG-powered buses that are assembled at Dana Motors' assembly factory in Isolo, Lagos, near the Oshodi-Apapa expressway, have been made public.
In uncertain US election, two prestige papers refuse to pick sides
Days ahead of a close presidential election, two of the most prestigious liberal American newspapers have declined to give their usual endorsements to the Democratic Party candidate, sparking furious reactions.
Full list: New ranking for Nigeria in List of 10 African countries with lowest fuel prices
The list of African countries with the cheapest fuel pump prices has been revealed, and Nigeria has taken a new position after government removed subsidy.
Economy
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