Senate rejects bill seeking to review forex market regulations
The Nigerian Senate recently rejected the Foreign Exchange (Control and Monitoring) Bill, 2024 (SB. 353), proposed by Senator Sani Musa…
Category: Business
Amazon could face probe over treatment of UK grocery suppliers, watchdog says
Britain’s grocery regulator has warned Amazon of a possible formal investigation if it does not improve compliance with the Groceries…
AI frenzy takes Taiwan’s TSMC to record peak, puts it in trillion dollar club
TSMC reached a record high in its second-quarter revenue, driven by strong demand for AI applications. The world’s largest contract…
Housing crisis in Spain’s cities drives rise in homelessness as tourism booms
Francisco Carrillo, a 62-year-old pensioner, finally found relief as he moved into a charity-provided apartment in Madrid after three years…
Nigeria’s regional trade declines, ranks 4th behind SA, Cote d’Ivoire, Egypt
Three years into the African Continental Free Trade Area (AfCFTA) agreement, Nigeria has experienced a decline in its intra-African trade.…
NERC Reels Out New Sanctions For DisCos
The Nigerian Electricity Regulatory Commission (NERC) announced new sanctions for Distribution Companies (DisCos) failing to meet specific contractual obligations with…
Global Regulators Tighten Rules On Banks Outsourcing Services
The Basel Committee of banking regulators has proposed that bank board directors take ultimate responsibility for managing the risks associated…
Cost of living crisis: Nigeria ranked 5th hardest hit African country
Nigeria has been identified as the fifth hardest-hit African country by the global cost-of-living crisis, according to a mid-2024 index…
Keystone Wins Retail Bank of the Year 2024 Award
Keystone Bank Limited has been recognized as the ‘Retail Bank of the Year’ at the Africa Industrial and Development Conference…
FG, USAID sign N115bn MoU to support power sector reforms
The United States Agency for International Development (USAID) and the Federal Ministry of Power have signed a memorandum of understanding…
UK economy improved in May – Report
Britain’s economic output grew by 0.4 percent in May, surpassing analysts’ expectations of 0.2 percent and rebounding from flat GDP…
Nigerian Equity Market Declines for Third Day, Investors Lose N2.18bn
The Nigerian equity market extended its losing streak for the third consecutive day this week, with investors losing N2.18 billion…
Spirits set to overtake wine as global drinking habits change
A report by the World Spirits Alliance forecasts that more cases of spirits like vodka and whisky will be sold…
US retailers try to move back-to-school shopping to July
American retailers are kickstarting their back-to-school promotions earlier this year to compete with Amazon’s Prime Day on July 16 and…
Honeywell to buy Air Products’ LNG unit for $1.81 bln as deal-making spree continues
Honeywell announced its fourth acquisition of the year, purchasing Air Products’ liquefied natural-gas (LNG) process technology and equipment business for…
Exclusive: Bank of Israel waiting for digital euro ahead of digital shekel launch
The Bank of Israel (BOI) is committed to exploring a digital shekel to enhance the country’s payment system and encourage…
Air Peace economy class to London booked till August – COO
Air Peace’s Chief Operating Officer, Toyin Olajide, announced that economy class tickets for flights from Lagos to London are fully…
No going back on N250,000 minimum wage, TUC insists
The Trade Union Congress (TUC) remains firm on its demand for a N250,000 minimum wage for workers in Nigeria, according…
NGX Suspends Trading of 8 Companies Over Late Financial Filings
The Nigerian Exchange Limited (NGX) has suspended trading in the shares of eight companies for failing to file their Audited…
N400bn oil production shortfall threatens 2024 budget
Nigeria’s oil production is significantly below its OPEC quota and budget benchmarks, causing severe pressure on the industry. With a…
Apapa Customs collects over N1trn in 6mths
Despite a drop in importation, the Apapa Area 1 Command of the Nigeria Customs Service (NCS) collected over N1 trillion…
NCAA to sanction airlines over false flight schedule
The Nigeria Civil Aviation Authority (NCAA) has issued a warning to commercial airlines against deceitful departure time scheduling, emphasizing that…
Fuel Scarcity: Filling Stations To Operate Longer Hours To Aid Supply – NNPC
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced that fuel stations will extend their operating hours to improve…
Firm Invests In Renewable Energy, Generates 3,200 Kwh
BAT Nigeria has invested millions of dollars in a solar power plant at its Ibadan manufacturing facility, generating an average…
Australia Increases Minimum Wage To $915 Per Week For Lowest Paid Workers
The Fair Work Commission (FWC) has announced a 3.75% increase in Australia’s minimum and award wages. This change raises the…
Oil companies in Texas restoring operations following hurricane Beryl
Oil and gas companies in Texas are restarting operations after Hurricane Beryl hit the state with 80-mph winds, causing property…
Disney to add new ship in Tokyo to expanding cruise business
Walt Disney (DIS.N) announced plans to launch a new cruise ship from Tokyo in fiscal 2028, adding a ninth vessel…
Crypto market turns green, downside risk remains high
The crypto industry is experiencing turbulence due to Bitcoin sales in Germany and concerns over significant liquidations by Mt. Gox…
Australia increases minimum wage to $915 per week for lowest paid workers
Australia’s Fair Work Commission has raised the minimum wage to $915.90 per week, effective from July 1, 2024. This follows…
Access Holdings Launches N351 Billion Rights Issue
Access Holdings Plc, a top financial services group in Africa, has begun a N351 billion Rights Issue to enhance its…