Economy
Most Asian markets drop as traders weigh US rates outlook
Most Asian markets turned lower Tuesday after a negative lead from Wall Street fuelled by profit-taking, while traders try to ascertain the outlook for US interest rates. After the tepid lead from Wall Street, Asia struggled.
Report predicts drop in inflation, new exchange rate by year end
According to Norrenberger, Nigeria's inflation is predicted to decline year end as long as efforts by the country's fiscal and monetary authorities are strengthened.
Venezuela arrests ex-oil minister accused of US links
Venezuela on Monday announced the arrest of a former oil minister accused of links to a firm controlled by US intelligence services -- the latest scandal to shake the crisis-hit country's energy sector. They are accused of crimes including "the delivery" of PDVSA's automated control system "to a company controlled by the US intelligence services," it said, without naming the other detainees.
Disney expects to name Iger's successor in early 2026
Disney said Monday it will name Bob Iger's successor as chief executive in early 2026 as it tapped former Morgan Stanley CEO James Gorman as chairman of the entertainment giant. Gorman, who exited as Morgan Stanley CEO in 2023, was named to the Disney board earlier this year and has been directing a succession planning committee to pick a replacement for the veteran Iger.
Hezbollah-linked financial firm an economic lifeline for Lebanese
Al-Qard al-Hassan, bombed by Israel over it's Hezbollah links, is a lifeline for mainly Muslim Shiite communities battling a years-long financial crisis that has locked Lebanese out of their bank deposits. Its beneficiaries are mainly Shiite Muslims, but in a country where a five-year economic crisis has forced many into desperation, Christians and Sunni Muslims have also turned to its services.
Massive boost for naira as Nigeria’s external reserves add $2.29 billion in 3 months, now $38.9bn
Nigeria's external reserves rose by $2.29 billion in three months, hitting $38.92 billion in October as diaspora inflow grows and oil prices rise globally.
London trial probes 2015 Brazil mine disaster
A trial to determine whether Australian mining giant BHP is liable for one of Brazil's worst environmental disasters opened Monday in London, potentially triggering billions of dollars in compensation to be shared among hundreds of thousands of people. The Australian mining giant said the quality of river water contaminated by the fallout has returned to pre-disaster levels.
France bristles at painkiller maker's sale to US fund
French drugmaker Sanofi's Monday confirmation that it plans to sell a controlling stake in its over-the-counter unit to a US investment fund sparked a new political backlash, stoked by fears the deal marks a loss of sovereignty over key medications.
Amnesty says migrant workers exploited at Carrefour Saudi stores
Rights group Amnesty International published Monday a report that accused the Saudi Arabian franchise of French supermarket giant Carrefour of exploiting migrant workers.
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