Economy
With no money or fuel, Cuban fishermen improvise on floating rafts
Small white squares dot the ocean off Havana, an unlikely fleet of fishermen bobbing on makeshift polystyrene rafts they use to make up for a lack of fuel or money to buy a proper boat. - 'Fishing is luck' - Fishermen mostly set off in pairs on their makeshift boats, which are one meter wide and about four meters long.
Gucci-owner Kering alerts on profits as earnings tumble
Luxury group Kering said Wednesday that its half-year net profit fell by half and warned operating earnings for the second half of the year would be down around 30 percent.
US new home sales dip in June, missing estimates
The sales rate of new family homes in the United States dipped in June, missing analyst estimates amid still elevated interest rates, according to government data released Wednesday. The data comes on the heels of a report Tuesday that also showed a drop in sales of previously-owned homes that also missed analyst estimates.
CBN crashes dollar for importers as Nigeria’s FX reserves rise to new high in 17 months
The Central Bank of Nigeria (CBN) has announced a new exchange rate for importers to clear goods from Nigeria's port, crashing it to N1,541 from N1,584 per dollar.
Olympic partner Coca-Cola chided over French taxes
The French tax authorities have claimed Olympics sponsor Coca-Cola owes it millions of euros, documents showed Wednesday, in the latest such allegation just days before the Summer Games kick off.
Council of Europe urges Jersey to up anti-money laundering efforts
The pan-European rights body Council of Europe called Wednesday on Jersey to enhance its implementation of anti-money laundering measures as it recognised the island’s strengthened legal framework. Moneyval said that Jersey "significantly strengthened its legal framework" and now has "most elements of an effective" anti-money laundering and counter-terrorist financing framework.
Boost for Naira, investors as Nigeria’s external reserves rise to $37 billion
The governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso has said that Nigeria's foreign reserves experienced a surge of $37.05 billion in July 2024.
Dangote gets invite from another African country to invest amid ongoing saga with NNPC
Aliko Dangote has received an invitation from Gabon’s President Nguema to invest in the country and believes it will help create jobs for his citizens.
Buyers quote new exchange rates for dollar in official, black Market as CBN intervenes
The Nigerian currency, the naira, crashed to N1548.76 per dollar against the US dollar after rising to N1,500 per dollar in the official market after CBN's FX sales.
Economy
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