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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Pharrell Williams to bring star power to Web Summit tech event
Singer Pharrell Williams is due to kick off one of Europe's biggest tech events on Monday, the Web Summit in Lisbon, with organisers keen to move on from last year's edition when several big firms pulled out. Google, Meta and a string of other firms pulled out of last year's event after Web Summit chief executive Paddy Cosgrave wrote social media posts accusing Israel of war crimes in Gaza.
On Kinshasa's streets hairdressers make a quick buck
Standing in a makeshift salon on the side of a dusty backstreet in Democratic Republic of Congo capital Kinshasa Papy Kalume pulled a fresh razor out of his bag. Kalume did work "officially" for a few years in a regular salon.
Naira makes great recovery in official and black marketsafter depreciating to lowest
The naira recovered in the official and black markets on November 7, 2024, after falling to its lowest the day earlier as the US dollar rebounded strongly.
Qantas plane returns to Australia airport due to 'engine failure', sparks fire
A Qantas plane made an emergency landing Friday due to a "contained engine failure" soon after taking off from Sydney Airport, sparking a grassfire on a nearby runway and causing several flights to be diverted. Eleven domestic flights were cancelled and four diverted to other airports, a Sydney Airport spokesperson said. lec/sco
China poised to approve more help for ailing economy
China is expected to unveil a huge support package for the struggling economy Friday as officials wrap up a key meeting with an eye on the possibility of intensified trade tensions with US president-elect Donald Trump. "In our view, the odds for a larger policy support package will rise somewhat with a Trump victory," he added.
Asian markets extend rally after Fed cut
Asian equities extended gains Friday, tracking another Wall Street record after the Federal Reserve cut interest rates and on the prospect of market-friendly policies from a Trump administration. On Wall Street, the S&P 500 and Nasdaq rallied again to hit fresh records, helped by strong performances by tech titans Apple, Google parent Alphabet and Facebook's Meta.
Sacred cow: coal-hungry India eyes bioenergy to cut carbon
Venerated as incarnations of Hindu deities, India's sacred cows are also being touted as agents of energy transition by a government determined to promote biogas production to cut its dependence on coal.
Facing Trump's return, EU confronts economic challenges
Confronted with the return of Donald Trump, EU leaders on Friday are set to commit to deeply reform Europe's economy and tackle challenges highlighted by a blockbuster report. But Friday's talks only kickstart the conversation and concrete proposals are expected to come months later, with implementing reforms set to take even longer.
US Fed chair says will not leave early if asked by Trump
US Federal Reserve Chair Jerome Powell said Thursday that he would not resign if asked to leave early by President-elect Donald Trump. If he wanted to, Powell could stay on as a governor after he steps down as Fed chair, and serve out the remainder of his term, which expires in early 2028. da/sms
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