Economy
Nigeria spends $2.56 billion servicing loans from China, India, IMF in 9 months
The Nigerian government has spent about $2.56 billion on debt-servicing in the first nine months of 2023, showing an 18% increase in the period under review.
Taiwan defends Foxconn over China tax probe
Taiwan defended tech giant Foxconn on Monday after China launched an investigation into several of the firm's sites, saying that Taiwanese businesses should not be subjected to "political interference". "They should not be subject to political scrutiny or political interference."
Equities drop as traders keep wary eye on Middle East crisis
Asian markets extended last week's sell-off Monday on fears of a regional conflict in the Middle East and worries that US interest rates will remain elevated for longer than initially thought. "The main question dominating global financial markets, particularly for Asian capital markets, is whether the sell-off in US Treasuries will subside or persist," said Stephen Innes of SPI Asset Management.
FG unveils plan to generate more revenue from Betway, Sportybet, others, targets N2.6trn
The federal government is looking at generating revenues for betting and lotteries companies both offline and online and has unviels new plans to make it happen.
Top 10 Nigerian states with highest external debts from China, others in 2023, Lagos Leads
Lagos leads the pact of the 10 highest indebted states in Nigeria both in domestic and external debts, as Nigeria's total public debt hit N87.33 trillion in June
ABCON ask CBN to allow them crash dollar via PoS, online operations, others
The Association of Bureau De Change Operators of Nigeria (ABCON) has suggested measures to the CBN that could crash the naira and boost Forex liquidity.
ECB set to hold rates as inflation drifts downwards
For the first time in over a year, European Central Bank policymakers are expected to decide against raising interest rates again when they gather in Athens on Thursday. The central bank, which holds one meeting outside its Frankfurt headquarters every year, looks set to follow in the footsteps of the US Federal Reserve and pause interest rate hikes for the time being.
“Second term should be banned for CBN gov”: Nigerians react as debt servicing exceeds oil revenue
A recent report showed that the apex bank’s interest on Ways and Means Payment of N1.68 trillion surpassed the government’s oil earnings of N813.58 billion.
'To not go crazy': Ukrainians open businesses in Poland en masse
Olena Romanova fled Ukraine for Poland when Russia invaded in February last year, leaving behind a successful facial massage salon business. For many Ukrainians, even those who have opened successful businesses in Poland, any long-term planning is difficult.
Economy
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