FCT Minister Nyesom Wike has hailed President Bola Tinubu for his new appointment. The reason for the jubilation of the former governor is contained in this report.
The Nigerian government has announced that individuals earning N100,000 and below are exempted from paying the newly introduced Personal Income Tax (PIT).
Displaying one of her company's hot plates proudly labelled "Made in Germany", Sigrid Klenk concedes that maintaining production at home could become harder due in part to US tariffs. "Now we have to specify the amount of steel contained in our products, especially our hot plates," she told AFP. "This has kept us very busy in recent days."
German exports to the United States dropped in July to their lowest level since 2021, data showed Monday, as President Donald Trump's tariffs exact a heavy toll on Europe's biggest economy. Trump's tariffs have dealt a major blow to Germany's export-driven economy, where major manufacturers had already been struggling with high energy costs, fierce competition from Asia and weak demand.
A former top diplomat dubbed the "Trump Whisperer" was the first candidate Monday to join the race to be Japan's next leader, a day after premier Shigeru Ishiba announced his resignation. With strong English, the Harvard-educated politician was dubbed the "Trump whisperer" for his deft handling of tricky US-Japan trade talks.
Asian markets rose on Monday, with Tokyo up nearly two percent after Japanese Prime Minister Shigeru Ishiba's decision to resign pushed down the value of the yen. "As for the market reaction, this obviously introduces significant downside risks for the (Japanese yen) and for long-end" Japanese government bonds (JGBs), he added.
The European Central bank is expected to hold interest rates steady again this week with inflation under control and US tariff tensions easing, even as France's political crisis presents a new headache.
Almost all European carmakers are on track to meet EU emission targets after winning a reprieve this year as electric vehicles (EV) sales pick up, a study released Monday showed. "The two-year extension of the targets allowed carmakers to take the foot off the gas and will lead to two million fewer electric cars being sold between 2025 and 2027," it said.
The Nigerian government reportedly spent N8.93 trillion on debt servicing in the first nine months of this year amid low oil earnings and production drops.
Seoul said Sunday that negotiations with the United States to secure the release of South Korean workers detained in an immigration raid have been "concluded" and they would soon be freed and flown home.
The Nigerian government, via the National Agency for Science and Engineering Infrastructure (NASENI), has unveiled the Innovator Naija Challenge.
Economy
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