Economy
Japan auto show returns, playing catchup on EVs
Tokyo's rebranded auto show returns this weekend just as China looks set to overtake Japan as the world's biggest car exporter after Toyota, Nissan and others got stuck in the electric vehicle slow lane. Just 1.7 percent of cars sold in Japan were electric in 2022, compared with around 15 percent in western Europe, 5.3 percent in the United States and nearly one in five in China.
Stocks lifted by China spending plan, oil down on Israel hope
Most markets rose Wednesday after China unveiled plans for $137 billion in extra debt to boost infrastructure spending, while oil extended losses on hopes Israel will scale back its plans for a Gaza ground invasion.
California suspends tests of GM's Cruise self-driving car
California authorities on Tuesday suspended testing of Cruise self-driving cars being developed by General Motors, citing safety concerns following a series of accidents and other problems.
Fintechs, banks, others advise CBN against shutting out cryptocurrency operations in Nigeria
Financial industry stakeholders have issued a statement that will ensure the blacklisting of offenders in the industry and also how to deal with crypto fraud
China announces $137 bn sovereign bond issuance
China announced Tuesday it would issue sovereign bonds worth 1 trillion yuan ($137 billion), state media said, in a move seen as an attempt to shore up the economy after a sluggish post-Covid recovery. The bonds unveiled Tuesday will be distributed to local governments to support national disaster prevention and recovery, state news agency Xinhua said.
Arla Farm: Kaduna State Government lauds Arla Foods on Its Investment in the Local Dairy Sector
Kaduna State Govt commended Arla Foods for its investment on the Arla Farm project which would contribute to the improvement of milk & dairy production in Nigeria.
Israel-Hamas war threatens world economy, bankers tell Saudi forum
The Gaza war raging between Israel and Hamas could deal a heavy blow to the global economy, banking titans told a glitzy investment forum in Saudi Arabia on Tuesday. "What just happened recently in Israel and Gaza ... you put all this together, I think the impact on economic development is even more serious," World Bank President Ajay Banga told the Future Investment Initiative (FII).
General Motors profits top estimates on limited Q3 strike hit
General Motors reported better-than-expected quarterly profits Tuesday behind strong US sales and a limited impact from a labor strike that began late in the quarter.
Zero-interest, 40-year tenure, other things to know about Tinubu's $3.5bn World Bank loan
It is expected that the $3.5 billion loan from World Bank will be directed to 5 projects; initiatives for women's empowerment, the electricity sector, others
Economy
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