Economy
US budget deficit widens to $1.7 tn on lower tax revenue
The US budget deficit for the past year widened to $1.7 trillion, government data showed on Friday, in a development that could add pressure on President Joe Biden as he seeks reelection in 2024. It also comes as Biden turns to Congress for aid to Ukraine and Israel, requesting a massive $106 billion national security package on Friday.
Nigeria’s debt servicing exceeds oil revenue as FG reveals CBN’s Ways and Means more expensive
The Nigerian government has revealed that service Central Bank of Nigeria's Ways and Means advances exceeded Nigeria's total oil earnings in the first 6 months.
Lebanon national carrier halves flights amid fears of Israel war
Lebanon's national carrier Friday said it was cutting more than half of its flights as tensions along the border with Israel prompted more Western countries to warn against travel to Lebanon. On Friday, Belgium became the latest country to issue a Lebanon travel advisory, following similar moves by the United States, Britain, France, Australia, Canada and other nations.
Christiane Benner, first woman to lead Germany's biggest union
Christiane Benner will become the first woman to lead Germany's biggest union when she takes the helm at IG Metall next week. Asked why it took so long for IG Metall, founded in 1949, to install a woman at the top, Benner chuckled.
Markets fall again and oil rises on Middle East, Fed fears
Asian markets fell and oil prices extended gains Friday on worries that an expected ground invasion of Gaza by Israel will spark a wider conflict in the Middle East. The likelihood of a Middle East war has sent oil prices surging and both contracts extended the week's gains Friday, rising almost one percent in Asian trade.
US inflation is 'still too high': Fed Chair Powell
US inflation is "still too high" despite a recent slowdown, Federal Reserve Chair Jerome Powell said Thursday, leaving the door open for a new interest rate hike. The Fed recently slowed its aggressive campaign of monetary tightening which lifted its benchmark lending rate to a 22-year high, as it looks to slow down inflation without pushing the US economy into recession.
US home sales dip in September to lowest rate since 2010
US home sales slid further in September to the lowest rate in 13 years, according to industry data released Thursday, with interest rates high and the supply of properties limited. From a year ago, home sales in September were around 15 percent lower.
Putin praises 'unprecedented' energy ties with China
Russian President Vladimir Putin hailed Thursday the "unprecedented" energy links between Moscow and Beijing despite failing to secure a much-sought agreement on a major new gas pipeline. The head of the Russian gas company Gazprom, Alexei Miller, hailed on Thursday a 46.6 percent increase in exports through the existing "Power of Siberia" pipeline so far this year.
Over 2,000 Programmers Enrolled for FCMB Hackathon
What sets FCMB Hackathon apart is its capacity to serve as a dynamic platform for tech enthusiasts, including developers & other stakeholders in the tech ecosystem.
Economy
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