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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Asian markets mixed as traders eye fresh trade tensions
Asian markets were mixed Wednesday as traders tried to gauge the economic outlook after Donald Trump picked a tough-negotiating hawk as his trade envoy the day after saying he would hit China, Canada and Mexico with hefty tariffs. Traders are keenly awaiting the release later Wednesday of the Fed's preferred gauge of inflation as well as figures on jobless claims and economic growth.
Future of deep-sea mining stands at a crucial juncture
Torn between the defenders of the world's seabeds and industrialists eager to exploit the vast, untapped resources of the deep, the international community faces a crucial year that could decide the future of mining in the high seas.
Bolivia announces $1 bn deal with China to build lithium plants
Bolivia said Tuesday it had signed a $1 billion deal with China's CBC, a subsidiary of the world's largest lithium battery producer CATL, to build two lithium carbonate production plants in the country's southwest. Bolivia claims to have the world's largest lithium deposits.
Autos, food: What are the risks from Trump's tariff threat?
Fresh US tariffs on Canada and Mexico could raise costs of automobiles and building materials, analysts said Tuesday, after President-elect Donald Trump threatened to erect new trade barriers.
Trump tariffs threat casts chill over Canada
Canada was scrambling Tuesday to blunt the impact of US President-elect Donald Trump's threat to implement steep tariffs once he takes office, as experts warned of a potentially "catastrophic" hit to the Canadian economy.
Saudi 2025 budget sees lower deficit on spending trims
Saudi Arabia on Tuesday approved a budget for 2025 that projected a smaller deficit than last year despite continued heavy spending on reforms to transition the economy away from oil. In 2022, Saudi Arabia recorded its first budget surplus in nearly a decade after Russia's invasion of Ukraine led to a surge in oil prices.
Carrefour attempts damage control against Brazil 'boycott'
French supermarket group Carrefour attempted Tuesday to end a supplier "boycott" of its stores in Brazil by apologizing for refusing to sell Mercosur-origin meat in its outlets in France.
Sales of new US homes lowest in around two years: govt
New home sales in the United States fell short of analyst expectations in October, hitting the lowest rate since late 2022, according to government data released Tuesday, with mortgage rates ticking up during the month. The figure in October was the lowest since late 2022, and comes as the popular 30-year fixed-rate mortgage edged up in the month.
Man Utd revenue falls as Champions League absence bites
Manchester United suffered a £14 million ($17.6 million) drop in total revenue to £143.1 million, taking a hit from their absence from the lucrative Champions League, first-quarter results showed Tuesday. They are predicting total revenue for 2025 of between £650 million and £670 million.
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