India has signed a contract to purchase 26 Rafale fighter jets from France, New Delhi's defence ministry said Monday, with the multi-billion-dollar deal to include both single and twin-seat planes. "The governments of India and France have signed an inter-governmental agreement for the procurement of 26 Rafale Aircraft," the defence ministry said in a statement.
Despite the central bank's efforts to sustain it—including raising interest rates for a record 12 sessions this week—the naira has fallen to a four-month low.
One staple food that seems to have disappeared from many families' meals is yam; a tuber now sells for N10,000, from N3,000 or N3,500 during the same time last year.
The naira crashed to a new low after the Central Bank of Nigeria (CBN) announced the sales of Forex to 29 authorised dealers. the naira traded at N1,509 at NAFEM.
The US Federal Reserve may signal this week that interest rate cuts are on the way -- although it is widely expected to remain on pause until its next rate decision in September.
Three of the world's top auction houses are racing to expand in Hong Kong, eager to woo young Asian buyers even as the global art market retreats from pandemic-era highs. Auction houses are now competing for younger buyers and embracing online bidding -- a shift accelerated by the pandemic.
LVMH's high profile and highly visible product placement in the Paris Games opening ceremony surprised marketing experts and raises the possibility it could cause problems for the International Olympic Committee with their long-term sponsors. "I can't remember in an International Olympic Committee - IOC Opening Ceremony a branded moment like Louis Vuitton today in Paris.
Artificial intelligence was key to last year's Hollywood strikes, and it has now sparked a second walkout by those actors who work in a far larger industry, at the heart of advancing technology -- video games. For vulnerable actors, still reeling from the impact of the Hollywood strikes, the idea of more time out of work is challenging.
Warner Brothers Discovery filed a lawsuit against the NBA on Friday, claiming the US professional basketball league broke a contract by refusing a new media rights deal to accept an offer from Amazon.
Boeing's safety troubles and the Airbus scramble to ramp up production should have left a gap for smaller rivals to challenge their dominatiion of the commercial airliner market. Airbus and Boeing still expect COMAC to become a rival.
Economy
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