Nigeria and Saudi Aramco’s $5bn Oil-Backed Loan Stalls Amid Crude Price Drop
Nigeria and Saudi Aramco are facing major hurdles in finalizing a landmark $5 billion oil-backed loan, as falling global crude…
Day: June 10, 2025
Afreximbank Defends Financial Integrity Amid Fitch’s Negative Outlook Over Sovereign Debt Risk
The African Export-Import Bank (Afreximbank) has responded to a recent Fitch Ratings report that assigned a negative outlook to the…
Google Faces Record Fine in Mexico as Antitrust Decision Nears
Mexico’s Federal Economic Competition Commission (Cofece) is expected to rule by June 17 on whether Google engaged in monopolistic practices…
Wall Street Wavers as U.S.-China Trade Talks Hang in Balance
Wall Street futures were largely flat on Tuesday as investors kept a close watch on the ongoing U.S.-China trade negotiations,…
Treasury Yields Dip as U.S.-China Trade Talks Resume Amid Market Caution
U.S. Treasury yields fell on Tuesday as investors closely monitored the ongoing trade negotiations between the United States and China…
French AI Challenger Mistral Unveils First European-Focused Reasoning Model to Rival OpenAI, DeepSeek
French artificial intelligence startup Mistral, backed by Microsoft, has officially entered the global AI race with the launch of its…
Amazon Commits $20 Billion to Pennsylvania Data Centres in Major AI and Cloud Push
Amazon has announced a landmark investment of at least $20 billion in Pennsylvania to expand its data centre footprint and…
Nigerian Marketers Strike Global Deal to Cut Petrol Price to N700/Litre Amid Industry Shake-Up
Nigerian petroleum marketers have partnered with international suppliers to import cheaper fuel, aiming to reduce petrol prices to around N700…
Tinubu stabilising Nigeria’s economy…he deserves encouragement – Fayose
Former Ekiti State Governor Ayodele Fayose has voiced his support for President Bola Tinubu, commending his efforts to stabilize Nigeria’s…
Nigeria’s FX Market Soars with $5.96bn Boost, Driven by Local Export and Import Surge
Nigeria’s foreign exchange market witnessed a major uplift in May 2025, with total inflows jumping by 62% month-on-month to reach…
Nigeria’s N22.8 Trillion Pension Assets Face Credit and Liquidity Hurdles in Infrastructure Push
Nigeria’s pension assets, totaling N22.8 trillion as of January 2025, remain vastly underutilized for infrastructure development due to prevailing credit…
Naira Holds Firm Below N1,600 as Market Optimism Grows Despite Global Dollar Jitters
The Nigerian naira maintained a relatively strong position below the N1,600/$ mark during the recent holiday period, trading within a…
Meta Bets Big on Scale AI with Historic $10 Billion Investment
Meta Platforms Inc. is preparing to invest more than $10 billion in Scale AI, a move that marks its most…
Dangote Promises Major Overhaul of Nigeria’s Oil Sector Following Tinubu’s Refinery Visit
Aliko Dangote, President of the Dangote Group, has announced plans for a sweeping transformation of Nigeria’s downstream oil sector, signaling…
US-China Trade Talks Enter Day Two Amid Tension Over Tech and Tariffs
Trade negotiations between the United States and China resumed in London for a second day, with both sides aiming to…
Ghana Urges AGOA Renewal as U.S. Tariffs Threaten African Exports
Ghana’s Minister for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, has called for the urgent renewal of the African Growth and…
U.S. and China Resume High-Stakes Trade Talks in London Amid Rare Earths Dispute
U.S. and Chinese officials reconvened in London on Tuesday for a second day of trade talks, with global markets closely…
Morgan Stanley Markets $5 Billion xAI Debt Amid Musk-Trump Fallout
Morgan Stanley is marketing a $5 billion debt package for xAI, the artificial intelligence startup owned by Elon Musk, sources…
Audit Failure Costs Nigeria $4m in World Bank Loan Amid Broader Project Setbacks
Nigeria is set to forfeit $4 million from a World Bank loan after failing to meet international auditing standards on…
Fitch Affirms Stanbic IBTC’s ‘AAA’ Rating for 11th Straight Year, Citing Strong Risk Management and Strategic Value
Global credit rating agency Fitch Ratings has reaffirmed Stanbic IBTC Holdings PLC’s national long-term rating at ‘AAA(nga)’ with a stable…