It was a jubilation night as reports emerged that the 24 schoolgirls who were abducted at the Government Girls Secondary School in Maga, Kebbi state, were rescued.
The Tinubu administration has introduced several loan and grant schemes to help Nigerians cope with economic hardship, unemployment, and rising poverty levels.
Global growth is expected to increase slightly this year while remaining stuck below its pre-pandemic average, the IMF said Friday, flagging the growing economic divide between the United States and European countries. The Fund left its outlook for growth in Japan unchanged this year and next, and slightly increased its outlook for the United Kingdom in 2025.
Donald Trump's economic plans risk reigniting US inflation, International Monetary Fund (IMF) chief economist Pierre-Olivier Gourinchas told AFP, a few days before the president-elect returns to the White House. Other proposals the president-elect has floated, such as cutting red tape and taxes, could also fuel inflation by boosting demand, he added.
With 33 dead in four days and 29 in intensive care after drinking bootleg liquor in Istanbul, the politically-charged debate over Turkey's soaring alcohol taxes has swung back into the spotlight. Last year, 48 people died in Istanbul after drinking tainted alcohol, the governor's office said.
Consumers pinching pennies, businesses seeing fewer customers, and a pervading sense that the economy just isn't bouncing back -- the mood was grim in Beijing as China posted some of its lowest growth in decades. "For us who do business, it's obvious that there are much fewer customers coming to our store, and customers' consumption levels don't compare to before," Yang said.
The Nigerian naira has recovered against the dollar in the official market after a week-long loss. The naira traded at N1,548.75 against the US dollar.
Apple pushed out a software update on Thursday which disabled news headlines and summaries generated using artificial intelligence that were lambasted for getting facts wrong. Apple's decision to temporarily disable the recently launched AI feature comes after the BBC and other news organizations complained that users were getting mistake-riddled or outright wrong headlines or news summary alerts.
World Bank has released its January 2025 Global Economic Prospects report and have provided a forecast to Nigeria's expected GDP growth projections for the year.
Asian markets were mixed Friday as data showing China's economy grew slightly quicker than expected last year failed to inspire investors, with Beijing battling to revive consumption and boost the battered property sector.
Nintendo shares tumbled more than six percent Friday after the Japanese games giant failed to impress with a brief video preview of its new Switch 2 console. In morning trade in Tokyo, Nintendo shares were down 5.67 percent at 9,046.00 yen ($58.28), having earlier fallen more than six percent.
Economy
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