Singapore port congestion shows global ripple impact of Red Sea attacks
Singapore’s container port is experiencing its worst congestion since the COVID-19 pandemic, largely due to prolonged vessel re-routing to avoid…
Month: June 2024
Volkswagen Recalls Over 271,000 Vehicles in the U.S. Due to Potential Air Bag Fault
Volkswagen is recalling more than 271,000 vehicles in the United States because of a potential wiring fault that may deactivate…
Exclusive: UBS urges Swiss government to clarify capital demands, sources say
UBS is pressing the Swiss government to clarify additional capital buffer requirements following its acquisition of Credit Suisse. The bank…
Nigeria’s gas export drops 25% on low output, exits
Nigeria’s gas exports have decreased by 25% to their lowest level in three years, mirroring a similar decline in the…
Naira Depreciates by 0.71% Against Dollar
On Tuesday, the naira faced renewed pressure in the official foreign exchange market, depreciating by 0.71% against the dollar. The…
FEC Steps Down Minimum Wage Memo for Further Consultations by President Tinubu
On Tuesday, the Federal Executive Council (FEC) decided to step down the minimum wage memo to allow President Bola Tinubu…
Kogi IGR Increases To N23.5bn
Kogi State’s internally generated revenue (IGR) has increased from N6.5 billion to N23.5 billion annually over eight years, according to…
NSIA Announces 26 Start-Ups For $220,000 Accelerator Prize For Innovation
The Nigeria Sovereign Investment Authority (NSIA) has revealed the 26 start-ups advancing to the accelerator stage of the NSIA Prize…
Access Bank Launches Season 6 of Womenpreneur Pitch-A-Ton Programme
Access Bank has opened registration for the sixth season of its Womenpreneur Pitch-A-Ton programme, aiming to inspire, connect, and empower…
Sterling HoldCo Gets Shareholders Approval to Raise N200bn Fresh Capital
At its inaugural Annual General Meeting (AGM), major shareholders of Sterling Financial Holdings Company Plc. approved a management decision to…
Pensioners with Heritage Bank to provide accounts
The Pension Transitional Arrangement Directorate (PTAD) has requested Defined Benefit Scheme (DBS) pensioners with accounts in Heritage Bank to provide…
World Bank Allocates $45.5M to Nigeria’s NIMC for Digital ID Project
The World Bank has disbursed $45.5 million to Nigeria’s National Identity Management Commission (NIMC) under the Digital Identification for Development…
Salpha Energy gets €25,000 grant for Ashden Award
Salpha Energy has been awarded a €25,000 grant for winning the 2024 Ashden Award for Energy Innovation, supported by the…
Novo Nordisk’s Weight-Loss Drug Wegovy Approved in China
Novo Nordisk announced that its popular weight-loss drug, Wegovy, has been approved for use in China, the world’s second-largest economy…
European stocks fall as Nvidia slump hits tech sector
European stocks fell on Tuesday following a significant 7% drop in chipmaker Nvidia, which had a ripple effect on U.S.…
Headline: China Defends Against Accusations of Unfair Subsidies and Trade Practices
China’s Premier Li Qiang pushed back against accusations from the U.S. and EU at a World Economic Forum meeting in…
Nasdaq futures rise as Nvidia stabilizes after AI stocks rout
Nasdaq futures saw an uptick on Tuesday as AI-related stocks, including Nvidia, rebounded from recent losses, prompting investors to await…
Bank of Japan opens door for a hawkish double surprise
The Bank of Japan (BOJ) is signaling a potentially larger quantitative tightening (QT) plan in July, accompanied by a possible…
FG tackles revenue leakage, deploys Central Disbursement Solutions
The Federal Government of Nigeria is launching a new revenue management system called ‘Revenue Assurance and Central Disbursement Solutions’ to…
Crypto Traders Lose Over $280m
The cryptocurrency market is facing significant losses after its second-worst weekly decline in 2024, with Bitcoin’s price dropping nearly 5%…
Annual Report: NGX Slams N76.8m Fine On 9 Firms
The Nigerian Exchange Limited (NGX) has fined nine listed companies a total of N76.8 million for failing to submit their…
Flutterwave Lays Off 30 Employees
African payments giant Flutterwave has laid off about 30 employees, approximately 3% of its workforce, as part of a strategic…
Shoprite to Close Novare Central Mall Branch in Abuja by June 2024
Shoprite Mall has announced it will cease operations at its Novare Central Mall branch in Wuse Zone 5, Abuja, effective…
APM Terminals Recycles Used Tyres Into Footwear
Determined to tackle the issue of used tyres littering Lagos, transport and logistics giant APM Terminals has begun recycling its…
RT Briscoe To Raise N10bn With Investment Scheme
RT Briscoe has launched a flexible investment plan aimed at supporting its 43,000 shareholders, mostly retired individuals, to invest in…
Dangote Oil Refinery Faces Delay in July Launch Due to Crude Shortage
Dangote Oil Refinery’s much-anticipated entry into the petrol supply market in July might face delays due to a shortage of…
CBN grants IMTOs naira access to boost remittances
The Central Bank of Nigeria (CBN) has announced new measures aimed at enhancing naira liquidity and increasing diaspora remittances. According…
BDC Operators Struggle with New CBN Guidelines
Bureau De Change (BDC) operators in Nigeria have yet to comply with the new operational guidelines issued by the Central…
Business registration possible in 24 hours, says CAC ambassador
The Corporate Affairs Commission (CAC) has introduced a Special Registration Portal (SRP) that enables business registration within 24 hours, according…
US prosecutors recommend Justice Dept. criminally charge Boeing
U.S. prosecutors are urging the Justice Department to bring criminal charges against Boeing, alleging the company breached a 2021 settlement…