Economy
Swatch profits plunge as China luxury crisis bites
Swiss watch group Swatch saw its first half profits plunge due to the luxury market crisis in China and warned Monday the key market was likely to remain difficult throughout the rest of the year. But the Chinese market will likely remain challenging for the entire luxury goods industry until the end of the year, it said.
Dangote projects $30 billion in revenue next year, moves to become Nigeria’s biggest dollar supplier
Chairman of the Dangote Group, Aliko Dangote has projected a massive $30 billion in revenue for the group in the next 12 months and to be Nigeria's top FX supplier.
Belgrade's sewage problem festers despite pledges
The sight of ducklings struggling to swim in Belgrade's stinking sewage-choked rivers is one residents hope a long-promised wastewater treatment plant will make a thing of the past. Hopes for the city's water quality were raised in June after authorities announced they had found candidates willing to build a much-needed sewage treatment plant.
Stocks mixed, dollar rises as traders weigh Trump shooting
Asian markets were mixed Monday as investors weigh the impact of the assassination attempt on Donald Trump with data suggesting it has boosted his chances of being re-elected president. Still, Katrina Ell at Moody's Analytics said: "The assassination attempt might lead to a temporary boost in the polls for Trump, but a lot can change before November.
Experts open up on what to expect as CBN makes fresh dollar sale to currency trader
The CBN intervened in the foreign exchange market by selling a total of $122.67 million to 46 approved dealers to promote stability and reduce market volatility.
Nigeria missing as South Sudan, Burundi top list of poorest African countries by GDP per capita
Legit.ng compiles a list ranking the ten poorest countries, starting from the country ranked tenth and progressing to the poorest country in the world for 2024.
Pakistan reaches $7 bn aid deal with IMF
The International Monetary Fund said it reached a new $7 billion loan deal with Pakistan in a bid to bolster its faltering economy. Pakistan's last $3 billion loan from the IMF in 2023 proved a lifeline.
Turkey puts its best foot forward to charm Chinese investors
Turkey plans to draw on its geographical position and an EU customs deal to entice Chinese investors keen to access European markets tariff-free, as it recently just did with carmaker BYD. The Chinese electric vehicle giant signed a billion-dollar deal with Ankara on Monday to open a plant in western Turkey, promising to create 5,000 jobs, a move that will help it dodge new EU tariffs.
Southwest Airlines unveils electric air taxi venture
US carrier Southwest Airlines plans to jointly develop a fleet of electric air taxis to serve the California market with transportation startup Archer Aviation, the companies announced Friday.
Economy
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