Economy
Rivers, two others lead states with highest number of unemployed people in new ranking
A recent report shows Nigeria's unemployment rate has risen to 5.3% IN 2024 from five per cent in 2023, with Abia, FCT, and River State recording the highest rate.
Ubisoft shares sink after 'Assassin's Creed' delay
Shares in French video game giant Ubisoft plunged nearly 20 percent Thursday after it dropped its profit targets following a delay to its latest "Assassin's Creed" title. Sales of the hotly awaited title have been lower than expected, and Ubisoft said it developers were focused on improving the game before moving to "further polish" the game-play of "Assassin's Creed Shadows".
German economy to shrink again in 2024: think tanks
Germany's economy is expected to shrink slightly in 2024, leading economic institutes said on Thursday, as the traditional manufacturing powerhouse continues to stagnate. Most recently, the economy underperformed analyst expectations in the second quarter, shrinking by 0.1 percent.
Hong Kong's New World Development replaces CEO Adrian Cheng
Hong Kong property behemoth New World Development announced Thursday that its chief executive officer Adrian Cheng has been replaced, as the firm reported an annual loss of over US$2.5 billion. The firm also announced losses attributable to shareholders totalling HK$19.68 billion (US$2.5 billion), which will will mark New World's first annual loss in two decades.
Swiss central bank cuts rate again amid strong franc worries
Switzerland's central bank on Thursday cut its key interest rate by a quarter percentage point for the third time this year, citing the strong Swiss franc and lower inflationary pressure.
Germany's BASF to focus on 'core units' in major overhaul
German chemicals giant BASF said Thursday it would focus on cost cutting and strengthening its "core businesses" in the years ahead as it unveiled details of a major overhaul. In the coming years, BASF "will focus on strengthening and profitably growing its core businesses", which it defined as the chemicals, materials, industrial solutions and nutrition segments.
China admits economy facing new 'problems', vows to fix property sector
Chinese President Xi Jinping and other top leaders admitted Thursday that the world's number two economy was facing new "problems" and vowed to resolve a long-running crisis in the housing sector.
CBN announces new dollar exchange rate for importers to clear goods
The Central Bank of Nigeria has made adjustments to the dollar exchange rate used for cargo clearances at Nigeria's ports as the naira free fall continues.
New fuel pump price: Transport companies adjust fares
The National Bureau of Statistics (NBS) has revealed that the cost of transportation across the country has decreased despite rise in petrol pump price.
Economy
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