Global Markets Slide as Oil Surges After U.S.–Israel Strikes on Iran
Global financial markets tumbled Monday after U.S. and Israeli strikes on Iran intensified geopolitical tensions, sending oil prices sharply higher and pushing U.S. stock futures down more than 1%. Futures for the S&P 500 and the Dow Jones Industrial Average fell 1.7%, signaling a weak open on Wall Street. Energy markets reacted swiftly. U.S. benchmark […]
Supreme Court Voids Trump’s Reciprocal Tariffs, Triggering Fresh Global Trade Uncertainty
Global trade flows were thrown into fresh uncertainty after the Supreme Court of the United States invalidated President Donald Trump’s “reciprocal” tariff framework, forcing governments and businesses to reassess the rules governing U.S. imports. In place of the struck-down system, a flat 10% global tariff on U.S. importers took effect Tuesday. The rate is lower […]
Dangote Unveils Major Plant to Power Africa’s Detergent Industry
President of the Dangote Group, Aliko Dangote, has announced plans for a major petrochemical project within the Dangote Refinery complex that is expected to position Nigeria as a leading supplier of key detergent inputs across Africa within the next 30 months. Dangote made this known on Saturday while addressing journalists during a tour of the […]
Dangote Predicts Naira Could Strengthen to ₦1,100/$ by End of 2026
Aliko Dangote, Africa’s richest man and Chairman of the Dangote Group, has projected that the Nigerian naira could appreciate to as low as ₦1,100 per US dollar by the end of 2026. Dangote made the forecast on Tuesday in Abuja during the launch of Nigeria’s Industrial Policy, an event attended by Vice President Kashim Shettima […]
Dangote Cuts Petrol Price, Eyes African Expansion
Dangote Petroleum Refinery has reduced its Premium Motor Spirit (PMS) gantry price by N25 per litre, lowering the ex-depot/gantry rate from N799 to N774 per litre. The adjustment, communicated to marketers on Monday night, takes effect immediately nationwide. “This is to notify you of a change in our PMS gantry price from N799 per litre to […]
Dangote Refinery to Begin Local Production of Detergent Surfactants
The Dangote Refinery has announced plans to commence the production of surfactants for detergent manufacturing in Nigeria, a move expected to significantly reduce the country’s dependence on imported raw materials and ease pressure on foreign exchange. Surfactants are a core ingredient in detergents used for washing clothes, cleaning surfaces and personal hygiene products. The plan […]
Stocks Rally After Trump Backs Away From Tariff Threats Over Greenland
U.S. stocks closed sharply higher Wednesday after President Donald Trump retreated from proposed tariff measures tied to his push to acquire Greenland, easing investor concerns over escalating trade tensions with Europe. The Dow Jones Industrial Average rose 588 points, or 1.2%. The S&P 500 gained 1.1%, while the Nasdaq Composite advanced 1.1%, recovering most of […]
Taiwan’s Premier Praises New U.S. Trade Deal as Beijing Condemns Agreement
Taiwan’s premier on Friday welcomed a newly announced trade agreement with the United States, calling it the most favorable tariff arrangement secured by any economy running a trade surplus with Washington, while Chinese officials in Beijing sharply criticized the deal. Under the agreement, U.S. tariffs on Taiwanese goods will be reduced to 15% in exchange […]
Dangote Refinery to Double Capacity to 1.4 Million BPD in Three Years
The Dangote Petroleum Refinery has unveiled plans to expand its production capacity from 650,000 barrels per day (BPD) to 1.4 million BPD within the next three years. The announcement was made on Wednesday in Lagos by the refinery’s Managing Director and CEO, David Bird, during an interactive media session. Bird said the expansion would adopt a “roofless replication” model, duplicating existing infrastructure […]
China’s Trade Surplus Hits Record $1.2 Trillion as Global Exports Offset U.S. Tariff Losses
China’s trade surplus soared to a record nearly $1.2 trillion in 2025, driven by strong global exports that offset sharply declining shipments to the United States amid President Donald Trump’s intensified tariff campaign. Customs data released Wednesday showed China’s exports rose 5.5% last year to $3.77 trillion, while imports remained flat at $2.58 trillion. The […]
