Economy
Shares soar in mpox vaccine maker Bavarian Nordic
Shares in Danish drugmaker Bavarian Nordic, which manufactures a vaccine targeting mpox, soared Thursday after the World Health Organization (WHO) declared an mpox surge in Africa a global public health emergency. Bavarian Nordic, whose vaccine has been licensed for preventing mpox since 2019, saw its shares rise more than eight percent on the Copenhagen Stock Exchange by midday on Thursday.
Walmart lifts earnings outlook after revenues rise
The US retail giant Walmart reported a rise in revenues on Thursday on increased e-commerce and advertising sales, and raised its outlook for the year. The results beat analyst estimates, causing it to raise its outlook for the year.
Chinese tech giant Alibaba's quarterly profit shrinks 29 percent
Chinese e-commerce giant Alibaba reported a 29 percent fall in quarterly profit on Thursday as it battles sluggish consumption during an economic slowdown. Alibaba runs some of China's most popular e-commerce apps and its performance is widely considered an indicator of broader economic trends.
Nigeria’s presidential jets seized in two countries over Chinese firm debt - reports
Three Nigerian presidential jets have been seized in France and Switzerland due to a long-standing business dispute with Chinese company Zhongshan.
UK growth slows slightly in second quarter
Britain's economy grew 0.6 percent in the April-June period, a slight slowdown compared with the first three months of the year, official data showed on Thursday. Separate data this week showed Britain's unemployment rate dropping to 4.2 percent and wage growth down to the lowest level in nearly two years.
North Korea tour operators hopeful ahead of country's reopening
A Beijing-based North Korea tour operator expressed hopes of fresh business on Thursday following an unexpected announcement that the country would reopen to foreign tourists this winter. KTG Tours, also based in China, said on its Facebook page Wednesday that it had been told "tourists will be able to go to Samjiyon (Mt. Paektu area) this winter".
China's underwhelming data dampens hope of economic recovery
Chinese industrial production growth slowed in July while unemployment rose, official data showed Thursday, highlighting an uneven recovery in the world's second-largest economy despite recent government measures to try to stimulate expansion.
Customs implements duty-free import of food items, lists conditions for companies interested
The Nigeria Customs Service has announced zero % duty and Value Added Tax (VAT) exemption on basic food items, effective July 15 to December 31, 2024.
Asian stocks follow Wall Street climb
Asian markets mostly mirrored positive strides on Wall Street in early trade Thursday, as easing US consumer inflation buoyed hopes that a big interest rate cut was around the corner and economic growth in Japan outpaced expectations.
Economy
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