Economy
Asian stocks build on gains ahead of US inflation data
Asian stocks mostly rose again Tuesday as worries about a US recession that sent markets into turmoil last week eased ahead of key inflation data, while oil prices held gains on concerns about a broader war in the Middle East.
Fitch downgrades Israel citing war in Gaza
US credit rating agency Fitch downgraded Israel a notch on Monday, warning that its ongoing conflict against Hamas in Gaza could last "well into 2025" and weigh on economic activity. "The conflict in Gaza could last well into 2025 and there are risks of it broadening to other fronts," Fitch said in a note.
Nigeria successfully repays foreign debts as CBN reports rise in diaspora remittances
Recent data from the Central Bank of Nigeria (CBN) shows a rise in international payments by the bank as the naira gains and FX reserves increase.
Full list: Zenith 1st, First Bank 2nd, other details of transaction at the CBN retails dutch auction
A Retail Dutch Auction System (RDAS) was conducted by the CBN in an effort to improve supply and promote price discovery in the foreign exchange market.
Waste into gold: Oyster shells repurposed as magic 'Seawool'
Growing up on Taiwan's west coast where mollusc farming is popular, Eddie Wang saw discarded oyster shells transformed from waste to function -- a memory that inspired him to create a unique and environmentally friendly fabric called "Seawool". The Made-in-Taiwan fabric would not be possible without the island's unique oyster farming culture, Wang said.
Asian markets mixed as focus turns to US inflation data
Asian markets were mixed Monday as investors try to move on from last week's upheaval that was fuelled by US recession worries, with focus on the release of key inflation and retail data. Comments last week aimed at reassuring investors that it would not move while markets were volatile helped settle some nerves.
Good news as CBN slashes Customs rate for cargo clearance after crashing dollar in official market
The Central Bank of Nigeria has reduced the foreign exchange rates for Customs duty after selling Forex to dealer banks via the Dutch Auction System
Over 700,000 Nigerian businesses race for share of FG’s N150bn loan
Thousands of manufacturers and micro, small, and medium enterprises have shown interest in accessing the federal government’s N150 billion loan...
CBN sells dollars cheaply again to banks as naira gains in official, black markets
The Central Bank of Nigeria (CBN) again embarked on FX sales to authorised dealer banks on Friday, August 9, 2024, at N1,594 per dollar as the naira gains.
Economy
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