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
- CBN Injects $166m into forex markets as naira struggles, forward contracts slide
- Farmers name those responsible for rice selling above N80,00 per bag
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Countdown to Busan: is a plastic pollution treaty in reach?
Negotiators meet in less than a month to agree on the world's first treaty to end plastic pollution, but countries remain so far apart that a deal may prove impossible. It has been two years since the UN first agreed to work towards a treaty, and negotiators have met four times already to hammer out details.
Hefty electric vehicle costs dent Ford profits
Ford reported lower profits Monday and reduced its full-year earnings outlook as hefty one-time electric vehicle (EV) expenses weighed on results. The results were the latest in which Ford has seen profits from its conventional internal combustion engine and fleet businesses offset losses in electric vehicles.
US finalizes curbs on investing in Chinese tech
The administration of President Joe Biden has finalized curbs on US investments in sensitive technologies like semiconductors in China that pose a threat to national security, the Treasury Department said Monday.
Apple rolls out AI features across devices
Apple on Monday rolled out its first set of artificial intelligence features, dubbed "Apple Intelligence," across its premium iPhone, iPad, and Mac devices, marking the tech giant's major push into generative AI. The release, first previewed by the company in June, marks Apple’s foray into an AI race that has seen the US tech giants rush into ChatGPT-style technology.
World Bank-owned IFC partners CBN to boost currency financing for Nigerian businesses
The International Finance Corporation has signed an agreement with the Central Bank of Nigeria (CBN) to increase local currency financing for businesses in Nigeria.
Suit filed in Pennsylvania to halt Musk's $1 mn giveaways
Philadelphia's chief prosecutor sued billionaire Elon Musk and his pro-Trump political action committee on Monday to halt his $1 million giveaways to registered voters. Musk has reportedly donated $118 million to his personal pro-Trump political action committee, an organization which collects funds for elections.
Boeing announces stock offering expected to raise up to $19 billion
Boeing announced a stock offering on Monday expected to raise up to $19 billion, saying proceeds will go towards repaying debt and investing in its subsidiaries. Boeing announced an offer to sell 90 million shares of common stock -- valued at around $13.9 billion at current market prices -- in addition to $5 billion in depositary shares.
Crisis-hit VW mulls closing at least three German plants
Ailing auto giant Volkswagen plans to close at least three factories in Germany and slash tens of thousands of jobs as part of drastic cost-savings drive, workers' representatives said Monday, calling the proposed cuts "of historic dimensions".
Ship with suspected toxic waste returns to Albania
A ship carrying hundreds of tonnes of possibly toxic industrial waste returned to Albania's largest seaport of Durres on Monday, months after setting sail to dispose of the material in Thailand. Ultimately rejected by Thailand, the ship turned back and returned to Albania after several months at sea, with stopovers in Spain, Portugal, Italy, and Turkey.
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