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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Pompeii rejects 'mass tourism' with daily visitor limit
The world-famous Pompeii archaeological park introduced a daily limit of 20,000 visitors on Friday, the latest Italian tourist site to take action against overcrowding. Zuchtriegel said efforts were also underway to open alleyways and streets in Pompeii that are currently closed, which would provide more space for visitors and allow organisers to raise the 20,000 daily limit.
FG to borrow fresh $2.2 billion from external creditors to boost economic recovery
The Nigerian government is reportedly planning a fresh $2.2 billion loan from Eurobonds and Sukuk bonds to strengthen the economy and complete ongoing projects.
Palestinians turn to local soda in boycott of Israel-linked goods
In a red box factory that stands out among the drab hills of the West Bank, Chat Cola's employees race to quench Palestinians' thirst for local products since the Gaza war erupted last year. "The demand for (Chat Cola) increased since the war began because of the boycott," owner Fahed Arar, told AFP at the factory in the occupied West Bank town of Salfit.
UK growth slows in third quarter, dealing blow to Labour government
Britain's economy grew less than expected in the third quarter, official data showed on Friday, dealing a blow to the Labour government that has set its sights on growth expansion. Separate data this week showed Britain's unemployment rate jumping more than expected, climbing 4.3 percent in the third quarter from 4.0 percent in the three months to the end of August. ajb/gil
Stiff business: Berlin startup will freeze your corpse for monthly fee
Becca Ziegler is only 24, but she already has her death planned out: her corpse will be deep-frozen to minus 200 degrees Celsius (minus 328 degrees Fahrenheit) with liquid nitrogen. The body is then infused with a "cryoprotectant" and transported to the facility in Switzerland where it is stored in a pod surrounded by liquid nitrogen and cooled to around minus 200 degrees Celsius.
Wars, looming Trump reign set to dominate G20 summit
G20 leaders gather in Brazil on Monday for a G20 summit set to be dominated by differences over wars in the Middle East and Ukraine, and implications of Donald Trump's White House return. China is Brazil's biggest trading partner, and the two countries have been touting themselves as mediators to help end Russia's war in Ukraine, so far without success.
Xi, Biden attend Asia-Pacific summit, prepare to meet
US President Joe Biden and Chinese counterpart Xi Jinping will attend the first day of an Asia-Pacific leaders' summit Friday ahead of a face-to-face meeting under a cloud of diplomatic uncertainty cast by Donald Trump's election victory.
Japan growth slows as new PM readies stimulus
Japan's growth slowed in the third quarter, official data showed Friday, as Prime Minister Shigeru Ishiba seeks to jumpstart the world's fourth-largest economy. "The economy lost momentum in the third quarter and we think that GDP growth will remain around trend over the coming quarters," Marcel Thieliant, head of Asia-Pacific at Capital Economics, said in a note on Friday.
China retail sales pick up speed, beat forecasts in October
China's retail sales last month grew at their fastest clip since the start of the year, official figures showed Friday, an encouraging sign for Beijing as it looks to boost sluggish consumption. However, industrial production growth edged down to 5.3 percent in October, the NBS figures showed, from 5.4 percent the previous month.
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