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.
Economy
Most viewed
Popular
- 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
Economy Latest News
Climate finance can be hard sell, says aide to banks and PMs
Trillions of dollars are needed to make poorer nations more resilient to climate change, and studies have estimated that every $1 invested today will save at least $4 in future. - Political jitters - But governments are limited in the amount they can borrow, he said, and reluctant to dip into their budgets for climate adaptation in poorer nations.
Egypt's middle class cuts costs as IMF-backed reforms take hold
Egypt's economy has been in crisis for years, but as the latest round of International Monetary Fund-backed reforms bites, much of the country's middle class has found itself struggling to afford goods once considered basics. For some, this has extended to cutting back on even the most basic goods -- such as milk.
Beirut businesses struggle to stay afloat under Israeli raids
Lina al-Khalil has fled her south Beirut home to escape escalating Israeli attacks on Hezbollah, but she still returns daily to the bombarded area to keep the family business running. - 'Hide-and-seek' - South Beirut grocer Mehdi Zeitar, in his 50s, has had to find a place to live after an Israeli strike destroyed his home.
Trump nominates fracking magnate and climate skeptic as energy secretary
US President-elect Donald Trump nominated fracking magnate and climate change skeptic Chris Wright as energy secretary on Saturday, tasking him with "cutting red tape" which the new administration hopes will drive investment in fossil fuels.
China's Xi urges APEC unity in face of 'protectionism'
Chinese President Xi Jinping on Saturday called for Asia-Pacific economies to "unite and cooperate" in the face of mounting "protectionism," at a summit in Peru. Speaking to Asia-Pacific Economic Cooperation (APEC) leaders hours before he is due to hold talks with US counterpart Joe Biden, Xi pointed to "challenges such as geopolitics, unilateralism and rising protectionism."
Macron to press Milei on climate action, multilateralism in Argentina talks
French President Emmanuel Macron will stress the importance of international action on climate change at talks Saturday with his right-wing Argentine counterpart Javier Milei who pulled his country out of the COP29 climate talks.
Xi, Biden to meet as Trump return looms
US President Joe Biden and Chinese counterpart Xi Jinping will hold their last meeting Saturday, a day after both leaders warned of turbulent times ahead as Donald Trump returns to the White House. - 'Significant political change' - Xi and Biden, who will be meeting for the third time overall, warned separately at the summit on Friday of choppy waters ahead.
Farmers target PM Starmer in protest against new UK tax rules
Hundreds of farmers, many in tractors, gathered in Wales on Saturday to protest against UK Prime Minister Keir Starmer and his government's decision to change inheritance tax rules for farms. Farming unions have called the planned changes "disastrous", and around 200 farmers gathered outside the Welsh Labour conference in Llandudno on Saturday, where Starmer was speaking inside.
Fitch upgrades Argentina debt rating amid economic pain
Credit ratings agency Fitch upgraded Argentina's sovereign debt rating to "CCC" from "CC" on Friday, citing improved ability to meet upcoming foreign debt payments and successful economic reforms under President Javier Milei. Fitch warned that significant challenges remain ahead, with Argentina facing large debt payments of $4.3 billion due in both January and July 2025.
Economy
Load more