Economy
New report, expert predict naira will continue to fall in official market until 2025
The Economist Intelligence Unit has predicted that the naira will continue to fall in the next three years as the CBN lacks the expertise and firepower.
Nnaji, Alaje, other experts proffer solutions to Nigeria's Forex crisis on Legit.ng X Space
At the Legit.ng X Space held in between the hours of 19:00 hours and 20:30 hours, experts have highlighted issues causing the naira to lose value.
NatWest bank slashes ex-CEO payout over Farage row
British bank NatWest on Friday said it had axed almost £7.6 million ($9.3 million) worth of potential payouts for Alison Rose, its former chief executive who resigned over the lender's treatment of arch-Brexiteer Nigel Farage. An independent investigation last month found that NatWest displayed "serious failings" in its treatment of the banking affairs of Farage.
Xi, Biden to meet next week to 'stabilize' ties, US says
US President Joe Biden and Chinese President Xi Jinping will meet on November 15 in the San Francisco area to try to "stabilize" relations after recent tensions between the two superpowers, US officials said.
Ratcliffe closing in on minority stake at Man Utd: reports
British billionaire Jim Ratcliffe could finalise a deal to become a minority shareholder at Manchester United during this month's international break, according to reports on Friday. Sheikh Jassim withdrew from the process last month, while Ratcliffe continued to pursue a minority shareholding.
British economy stalls in third quarter
Britain's economy stagnated in the third quarter, official data showed Friday, weighed down by elevated inflation and interest-rate hikes. The data comes one week after the Bank of England froze interest rates at a 15-year high of 5.25 percent to tackle high inflation, and forecast the economy would flatline next year.
Bangladesh PM rejects further pay hike after garment worker protests
Bangladesh's Prime Minister Sheikh Hasina has rejected any further pay hikes for protesting garment workers demanding a nearly tripled wage increase, after violent clashes with police and factories were ransacked. The protests have left at least three workers dead and more than 70 factories ransacked since last week, according to police.
Building coal-fired power plants 'irresponsible': US climate envoy
Building and funding coal power plants is "irresponsible," US climate envoy John Kerry said Friday, calling "greed" the biggest impediment to climate action. Speaking in Singapore, the former US chief diplomat said it was now "irresponsible to be funding or building a coal-fired power plant anywhere in the world."
Equities in retreat as Powell warns rate hikes still on table
Asian stocks sank Friday and the dollar held gains after Federal Reserve boss Jerome Powell warned he "will not hesitate" to hike interest rates further in his quest to bring inflation to heel. The dollar rallied against its key peers after the remarks, and it held those in Asia on Friday.
Economy
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