Finance
G7 Leaders Pledge $50 Billion Loan To Ukraine From Frozen Russian Assets
Leaders from the Group of Seven (G7) nations have announced a landmark agreement to provide Ukraine with a $50 billion loan from frozen...
Moscow Exchange Suspends Dollar, Euro Trading Amid New U.S. Sanctions
The Moscow Exchange halted trading in U.S. dollars and euros on Thursday following new U.S. sanctions aimed at disrupting Russia’s financial capabilities in...
On Tinubu’s Directives, NNPC Drops Case Against ExxonMobil’s $1.3bn Assets Sale to Seplat Energy
The Nigerian National Petroleum Company (NNPC) has reportedly withdrawn its lawsuit against ExxonMobil three weeks after President Bola Tinubu’s decisive directives, which were...
Nigerian Lawmakers Push for New Presidential Aircraft Amid Economic Crisis, Sparking Public Outrage
Amid Nigeria’s deepening economic crisis and widespread suffering among its citizens, lawmakers are pushing for the urgent purchase of new aircraft for President...
BlackRock’s iShares Exits Nigeria Due to Unprofitable Business Environment
BlackRock, the world’s largest manager of $10 trillion assets, announced closure and its decision to liquidate its iShares exchange-traded funds (ETFs) worth $400...
El Salvador Government Burns $67 Million Worth of Seized Cocaine
El Salvador authorities have burned a massive 2.7-ton pile of cocaine worth an estimated $67.5 million. The drugs were incinerated in Ilopango, just...
Diageo Sells Stakes in Guinness, Joining Multinationals Exiting Nigeria
On Tuesday, Diageo announced the decision to sell majority stakes in its subsidiary Guinness Nigeria to Tolaram Group, becoming the latest multinational to...
NNPC Denies Allegations Of Inflating Fuel Subsidy By N3.3 Trillion
The Nigerian National Petroleum Company Limited (NNPCL) has denied the allegations that it inflated Premium Motor Spirit (PMS/Fuel) subsidy claims by N3.3 trillion...
Schengen Visa Fees Increased by 12% for Non-EU Citizens Starting June 11
Non-European Union citizens applying for a Schengen visa will see an increase in fees starting June 11, 2024. The European Commission announced that...
Nigeria’s Economy To Hit $1.85 Trillion By 2029, But To Fall From Largest To Fourth In Africa -IMF
The International Monetary Fund (IMF) has predicted that Nigeria’s economy will reach $1.85 trillion by 2029 in terms of Purchasing Power Parity (PPP)....
European Central Bank To Cut Rates For First Time Since 2019
The European Central Bank (ECB) is set to announce a reduction in interest rates at its meeting in Frankfurt, Germany on Thursday. This...
Naira Left Out Of IMF’s June Currency List
The Naira has been omitted from the International Monetary Fund’s (IMF) Representative Exchange Rates for Selected Currencies for June 2024. This exclusion shows...