Two banks holding national banking licences are reportedly in talks to merge as the recapitalisation deadline set by the Central Bank of Nigeria (CBN) nears.
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- New tax law replaces reliefs with rent-based deductions, capped at N500k
- How the National Single Window transforms Nigerian commerce
- FG invites Nigerians to apply for N50k for their business, releases link
- First Bank, FCMB, 4 others seek N731 billion to meet CBN recapitalisation as deadline nears
- CBN Injects $166m into forex markets as naira struggles, forward contracts slide
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EasyJet annual profit rises 40% on package holidays
British no-frills airline EasyJet on Wednesday reported a 40-percent rise in annual net profit on strong demand for its package holidays. The airline reported that for its package holiday division -- which it launched in 2019 -- customer numbers increased by 36 percent from the previous financial year.
CBN makes changes to forex trading, announces new minimum requirement
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Greeks finally get Thessaloniki metro after two-decade wait
Greece's second city Thessaloniki will unveil its new subway system more than a decade late on Saturday after the project was dogged by archaeological challenges and financial difficulties. It is a project that has also had many, many difficulties and obstacles," Staikouras said.
New EU commission to get all clear with big push on defence and economy
EU chief Ursula von der Leyen warned Wednesday that Europe has "no time to waste" to boost its defences and competitiveness, as European lawmakers prepared to greenlight her new executive to start work. Appealing for a massive defence spending boost, she said, "We have no time to waste.
Volkswagen says to sell operations in China's Xinjiang
German car giant Volkswagen said Wednesday it would sell its operations in China's Xinjiang region, where Beijing has been accused of widespread human rights abuses including forced labour. Rights campaigners have for years accused Beijing of a crackdown against Uyghurs and other Muslim minorities in Xinjiang, including through forced labour and detention camps.
Naira bounces back in the official window as dollar supply rises
The Nigerian currency, the naira, staged a dramatic comeback in the official foreign exchange mart after depreciating for days, leading to a high cost of goods.
Vietnamese EV maker Vinfast reports $550 million Q3 loss
Vietnamese electric vehicle manufacturer VinFast reported a net loss of $550 million for the third quarter, less than the same period last year as the firm recorded an uptick in sales. VinFast last year reported a net loss of $2.39 billion, up 14.7 percent from 2022.
Hello Kitty owner plunges 17% on sharesale plan
Shares in the Japanese entertainment giant behind the popular Hello Kitty brand plunged on Wednesday after major shareholders said they would reduce their stakes. A statement issued Tuesday by Sanrio said shareholders including major bank Mitsubishi UFJ will let go of as many as 25.9 million shares, sold at a price to be determined later.
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