King Charles: New Coins Featuring Monarch’s Portrait Unveiled
New coins featuring the portrait of King Charles have been revealed, with a 50p carrying his image entering general circulation within weeks. BBC News was given a first glimpse of the 50p and a commemorative £5 Crown which include an image of the King by British sculptor Martin Jennings. The coins follow centuries of tradition […]
Bank Of England Steps In To Calm Markets
The Bank of England has said it will step in to calm markets after the government’s tax-cutting plans sparked a fall in the pound and caused borrowing costs to surge. It warned that if the market volatility continued there would be a “material risk to UK financial stability”. The Bank will start buying government bonds […]
US Markets Sink On Unexpectedly High Inflation
Inflation in the US remained unexpectedly high last month, news that drove Wall Street to its worst day in more than two years. Prices rose 8.3% in the 12 months through August, the Labor Department said, faster than the 8.1% that economists had expected. That was down from 8.5% in July, driven by lower petrol […]
Dangote Group Arrest Driver Over Illegal Hauling Of Timber
Dangote Group on sunday said that one of its drivers had been arrested for hauling timber illegally. Anthony Chiejina, the firm’s group chief branding and communications officer, said in a statement that the driver and the truck were arrested in the North Central zone and turned over to policemen. The statement added, “The driver was […]
Gas Prices Soar 26% After Russia Keeps Key Pipeline Closed
Gas prices have soared on concerns over energy supplies after Russia announced it would not reopen its main gas pipeline to Europe. The Dutch month ahead wholesale gas price, a benchmark for Europe, was up as much as 30% in early trading on Monday. The Nord Stream 1 pipeline had been due to reopen on […]
NNPC Agrees To Forensic Audit, Insist That Daily Fuel Supply Remained At 68 Million
Insisting that the daily fuel supply remained at 68 million, the Nigerian National Petroleum Company, NNPC Limited, has offered to submit itself for a forensic audit of fuel supply and subsidy management. Between January and August 2022, “the total volume of Premium Motor Spirit, PMS, imported into the country was 16.46 billion litres, which translates […]
European Shares Fall Sharply As Policymakers Seek To Tame Hot Inflation
European shares dropped sharply on Monday while bond yields surged as comments from central bank policymakers heightened fears of aggressive measures to stamp out inflation amid rising risks of a recession. The pan-European STOXX 600 fell 0.8% to a more than one-month low, with rate-sensitive tech stocks (.SX8P) falling the most, down 1.4%. Germany’s ten-year […]
India’s Digital Lending Rules Spark Disruption, Firms Plan Pushback
India’s stricter digital lending rules have disrupted card services of foreign-backed fin-tech firms and jeopardized loan offerings of Amazon, prompting companies to chart a lobbying pushback, according to industry sources and a document seen. Citing concerns over high rates and unfair practices, the Reserve Bank of India (RBI) this month said a loan borrower must […]
Billionaire Xiao Jianhua Jailed For 13 Years In China
A Chinese-Canadian billionaire has been sentenced to 13 years in prison in China and his company fined more than $8bn (£6.7bn). Xiao Jianhua and his company Tomorrow Holdings were charged with embezzlement and bribery, a court in Shanghai said. Xiao – one of China’s richest people – was last seen being whisked away from a […]
Emirates Suspends All Flights To Nigeria From September 1 Over $85m Trapped Revenue
Emirates Airlines has announced the suspension of its flight operations to Nigeria, starting September 1, 2022. The flag carrier of the United Arab Emirates (UAE) disclosed this in a statement on Thursday, citing the inability to repatriate its earnings in foreign exchange from Nigeria. Last month, Emirates asked Hadi Sirika, minister of aviation, to support […]
