Economy
CBN leaves Customs FX rates for cargo clearance unchanged as naira rebounds
The Customs exchange rates for cargo clearance have remained unchanged despite the naira's volatility and CBN's interventions in the foreign exchange markets.
BMW recalls 1.5 mn cars over bad brake, cuts outlook
BMW said Tuesday it was recalling about 1.5 million vehicles due to problems with their brakes and cut its outlook for the year, sending the German luxury carmaker's shares tumbling. Last month BMW also recalled 1.4 million vehicles in China due to faulty airbags, the country's market regulator announced.
Trouble for Nigeria as Naira loses over N2000 against another African country's currency
The 80% decrease in economic activity at the country's land borders has been ascribed by licensed customs officials to Nigeria's foreign exchange issue.
Europe's fight with big tech over tax, data and disinformation
The European Union scored two major legal victories on Tuesday in separate cases that left Apple and Google owing billions of euros. On Tuesday, the EU's top court upheld a 2.4-billion-euro fine first issued against Google in 2017 for illegally favouring its own price comparison service.
UK's Starmer vows 'partnership' with unions but warns on pay
Prime Minister Keir Starmer on Tuesday pledged to reset industrial relations strained by widespread strike action, as he became the first UK leader to address the annual meeting of Britain's trade unions in 15 years. "Partnership is a more difficult way of doing politics," Starmer said, seeking to draw a line under years of strike action and tensions between unions and the previous administration.
Djibouti says offering port-sharing deal to Ethiopia
Djibouti said it has offered a port-sharing deal with Addis Ababa, a move aimed at easing tensions between Horn of Africa rivals Ethiopia and Somalia. The Ethiopian prime minister had warned Sunday that his country would "humiliate" any nation that threatens its sovereignty, after Addis Ababa accused unnamed actors of seeking to "destabilise" the Horn of Africa.
China's Huawei unveils triple-folding phone
Chinese tech giant Huawei on Tuesday unveiled its new smartphone, billed as the world's first trifold phone, hours after US competitor Apple lifted the curtain on its new iPhone built for AI. The Mate XT was officially launched in a keynote presentation by Huawei executive Richard Yu at the firm's headquarters in the southern city of Shenzhen.
Peaches from Japan's Fukushima region sold at Harrods
Peaches from Fukushima can now be bought at London's luxury department store Harrods in a Japanese push to ease fears about produce grown in the region hit by nuclear disaster. But after an earthquake-triggered tsunami unleashed the worst nuclear disaster since Chernobyl, consumers feared eating them could harm their health and sales plunged.
Spain's Sanchez urges negotiated solution to China-EU trade tensions
Spanish Prime Minister Pedro Sanchez called for "a negotiated solution" at the World Trade Organisation (WTO) to end a stand-off between Beijing and the European Union. A solution negotiated and agreed in the WTO framework, that contributes to developing balanced and fair and avoids commercial escalation that benefits no-one," Sanchez said.
Economy
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