Economy
Lower rates, surging stock market fail to ignite US IPO market
Public listings on Wall Street have seen a slow comeback in 2024 despite a resilient US economy, a long-awaited interest rate cut by the central bank and stock valuations hitting record highs.
CBN orders Nigerian banks to refund N7.05bn as customers of GTBank, Zenith, others battle network
The Central Bank has revealed that banks operating in the country have refunded about N7.05bn and $714,569.03 to customers following its intervention.
Panama Canal crossings down 29 percent due to drought
Traffic in the Panama Canal fell by 29 percent over the past year due to a severe drought linked to climate change, the canal's operator said late Tuesday. The volume of cargo shipped through the canal, which links the Atlantic and Pacific oceans, was down by 17 percent in a year to 423 million tons, the canal authority of the central American country added.
Amazon bets on nuclear power to fuel AI ambitions
Amazon announced significant investments in nuclear energy on Wednesday, joining other tech giants in aiming to meet the high electric power demands of cloud computing and artificial intelligence using atomic energy.
Israeli booths, equipment barred from defence show in France
Israeli delegations taking part in the major Euronaval defence show in France next month will not be permitted to set up any stand or exhibit hardware following a decision by the French government, organisers said on Wednesday.
CBN gives important step for next-of-kin, others to claim funds in dormant accounts
The CBN is in charge of managing inactive accounts and unclaimed funds; a management committee will oversee the process, which will be run by a special office.
CBN explains sources of $2.33bn Into economy as currency dealers sell dollar at new rates
The Central Bank of Nigeria has explained that about 67.8% of FX inflow into Nigeria in the first half of 2024 came through international money transfer operators.
Lufthansa fined 'record' $4 mn for barring Jewish passengers
US authorities have hit Lufthansa with a record $4 million penalty after finding the airline discriminated against more than 100 Jewish travelers by blocking them from boarding a flight in 2022, officials said Tuesday. Lufthansa denied boarding "to everyone for the apparent misbehavior of a few, because they were openly and visibly Jewish," DOT authorities said in a filing.
Zelensky rules out ceding Ukrainian land in Victory Plan, urges NATO invite
Zelensky rules out ceding Ukrainian land in Victory Plan, urges NATO invite
Economy
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