Naira gains as external reserves reach $43.4 billion
Nigeria's naira recovers against USD, trading at N1441 after external reserves surge to $43.4bn. Market sentiment improves as blocked funds decline. Read latest FX updates.
Category : Economy
Germany approves €98 billion debt for 2026 budget
German parliament approves revised 2026 budget with €98 billion borrowing for economic relief and military spending. Chancellor Merz unveils industrial power price cuts.
Cartier Owner Richemont Reports €10.6B Sales Amid Asia Recovery
Swiss luxury group Richemont, owner of Cartier, reports strong €10.6 billion sales driven by jewellery demand and Asian market recovery. Discover how luxury sector navigates economic challenges.
China Retail Sales Growth Slowest in Over a Year
China's retail sales grew at just 2.9% in October 2025, the slowest pace in over a year, highlighting persistent consumer challenges. Discover the economic implications.
Trump Eyes $2,000 Checks, 50-Year Mortgages
Facing economic pressure, President Trump proposes $2,000 dividends and 50-year mortgages. Will these ideas address cost-of-living concerns? Read more.
Mexico Auto Industry Fears US-China Tariff Impact
Mexico's massive car industry fears US tariff war will disrupt essential Chinese parts supply, threatening a key export sector. Learn how this impacts global trade.
Google's $40M Support Package for SA Media
Google agrees to pay R688 million to South African news outlets after competition watchdog investigation. Deal includes funding for local content and AI innovation.
UK Economy Slows to 0.1% Growth Before Budget
UK economic growth slowed to 0.1% in Q3 2025 as unemployment rose to 5.0%, putting pressure on Labour government ahead of crucial budget announcement. Learn more.
Naira falls to 10-day low against US dollar
Naira reverses gains, crashing to N1,443.08 against USD in official market. Third straight day of losses as mid-month demand pressures mount. Read full analysis.
EU Votes to Weaken Green Business Sustainability Rules
European lawmakers vote to scale back corporate sustainability rules, reducing company obligations on environmental and human rights due diligence. Key changes expected to pass.
Global CO2 Emissions to Reach New Record in 2025
New research reveals fossil fuel emissions will hit record levels in 2025, making 1.5°C warming limit 'impossible'. Learn what this means for climate action.
Tribal Chief Raoni to Confront Lula Over Amazon Oil
Indigenous leader Raoni Metuktire vows to give President Lula a 'talking-to' about controversial Amazon oil exploration and deforestation concerns at COP30.
US stops penny production after 232 years
The United States has minted its last circulating penny, ending 232 years of production. Discover why this cost-saving move matters and what happens next to your coins.
Naira Gains as Pound Sterling Falls Below N2,000 Mark
Nigerian naira strengthens significantly against British pound, dropping below N2,000 in both official and parallel markets. CBN reforms drive currency stability as forex reserves hit $43.34 billion.
German experts cut 2026 GDP forecast to 0.9%
German economic experts criticize the government's €500bn spending plan, warning it will provide only a minor boost to the struggling economy. They have cut the 2026 GDP growth forecast to 0.9%. Read more for the full analysis.
Nigeria Launches Talent Accelerator for Youth Jobs
Nigeria launches Talent Accelerator Network to close skills gaps and create millions of jobs in technology and green industries. Learn how this initiative will transform the workforce.
First G20 Summit in Africa: 5 Key Facts
Johannesburg hosts the historic G20 summit, marking its first African edition. Explore key priorities, US boycott, and global implications. Read more now!
Bangladesh Liquor Industry Thrives in Muslim Nation
Carew and Co, Bangladesh's only licensed distillery, reports record $10M profit despite operating in Muslim-majority country. Alcohol sales restricted to permit holders.
Guinea launches massive Simandou iron ore mine
Guinea officially launches production at Simandou, one of the world's largest iron ore mines. The $20 billion project promises economic transformation and thousands of jobs for the West African nation.
Naira Exchange Rate Stable Amid FX Reserve Growth
Nigerian naira shows minimal movement across forex markets as external reserves reach $43.34 billion. Expert analysis reveals stability outlook amid fluctuating dollar supply.
Ghana Raises Minimum Wage to GH₵21.77 Daily
Ghana's government approves 9% salary increase for public sector workers and raises daily minimum wage to GH₵21.77 effective January 2026 to ease living costs.
Nigeria's 2025 Borrowing Exceeds Target by 55.6%
Federal Government borrowing hits ₦17.36 trillion, surpassing 2025 target by 55.6%. Experts warn of debt trap risks and economic consequences. Read full analysis.
$500m World Bank Loan for Nigerian MSMEs via DBN
Federal Government secures $500 million World Bank loan for MSMEs through DBN. Learn how this impacts small businesses and Nigeria's economy.
Nigeria, IMF Discuss Reforms & New Development Plan
Nigeria and the IMF held talks on economic reforms and the new National Development Plan. The government also approved new policies to revolutionise the civil service.
Maasai Fear VW Carbon Credit Scheme Threatens Heritage
Tanzania's Maasai community faces potential destruction of their ancestral way of life through Volkswagen's carbon credit initiative, dismissed as greenwashing by experts. Discover the full story.
Naira falls to N1,436.58 as CBN intervenes with $50m
The Nigerian naira depreciated by ₦15 against the US dollar amid global tensions and CBN's $50 million intervention. Discover the market impact and expert outlook.
Nigeria Tops Africa in Currency Volatility
Olisa Agbakoba reveals Nigeria's naira has one of Africa's worst currency performances with 40% depreciation in 2024. He proposes three reforms to unlock 1.5 quadrillion naira in economic value.
COP30 Nations Propose Luxury Flight Tax on Elite
France, Spain and Kenya lead coalition at COP30 summit pushing for new taxes on business class, first class and private jets to make wealthy pay fair share for climate impact. Read more.
CBN Cuts Customs Rate to N1,421/$
The Central Bank of Nigeria has reduced the customs exchange rate to N1,421.23/$, lowering import costs. This reflects the Naira's ongoing appreciation in the forex markets.
Norway's $2.1T Fund: Ukraine Rescue Plan?
Norway, enriched by war, faces calls to use its $2.1 trillion sovereign fund to guarantee a massive €140B loan for Ukraine. Discover the moral and economic debate.
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