Economy
FG opens up on bringing back fuel subsidy, shares monthly spending on petrol importation
Nigeria currently imports $600 million worth of gasoline each month, as reported by Finance Minister and Coordinating Minister of the Economy Wale Edun.
Chile's largest steelmaker suspends production, blames China
Chile's largest steel plant announced on Wednesday that it had suspended operations because it could not sustain itself financially, despite new tariffs on Chinese steel meant to protect local production.
CBN slashes FX rate for cargo clearance as Customs begins duty-free implementation amid naira gains
The Central Bank of Nigeria (CBN) has adjusted Nigeria Customs exchange rates for cargo clearance in Nigeria ports as the naira appreciated against the dollar.
Health experts urge Olympics to cut ties with Coca-Cola
Two health experts on Wednesday urged Olympic organisers to cut ties with Coca-Cola, saying the current big money sponsorship deal allows the US company to "sportswash" unhealthy sugary drinks. "It's time for the International Olympic Committee (IOC) to cut ties with Coca-Cola in the interest of athletes, spectators and the planet."
Expect more product placement at Olympics, says IOC
The Olympics is set to feature more and more high-profile product placement in a major departure from the past when brands were kept away from the sport, the International Olympic Committee (IOC) said Wednesday. But no advertising has been allowed on sports fields or at venues, depriving the Switzerland-based IOC of extra revenue.
'Miseries of the Balkhash': Fears for Kazakhstan's magical lake
Seen from the sky, with its turquoise waters stretching out into the desert expanses in the shape of a crescent, you can see why they call Lake Balkhash the "pearl of Kazakhstan". Beijing is a key economic partner for Kazakhstan but it is less keen to collaborate on water issues.
Prices of rice, other food items to crash as Customs is set to begin import waiver, sets rules
The Nigeria Customs Service has disclosed that it is working with the Ministry of Finance to set new guidelines for the implementation of duty-free food import.
Hong Kong's Cathay unveils deal to buy up to 60 aircraft
Hong Kong carrier Cathay Pacific said Wednesday it would buy up to 60 Airbus A330-900 aircraft as it looks to build on a post-Covid recovery and reach pre-pandemic passenger numbers in the new year.
Naira to dollar appreciates as CBN commences new deal with currency traders
According to the data obtained from FMDQ, the value of the Nigerian naira increased against the US dollar on Tuesday, August 6, closing at N1,601/$.
Economy
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