Port Of Los Angeles Going 24/7 In Effort To Ease Supply Chain Bottlenecks Before Holidays
President Joe Biden tried to reassure Americans on Wednesday that he can tame high inflation, announcing a deal to expand operations at the Port of Los Angeles as prices keep climbing and container ships wait to dock in a traffic jam threatening the U.S. economy and holiday shopping. Prices are jumping in large part because […]
‘Squid Game’ Strikes Nerve In Debt-ridden South Korea
“Squid Game,” a brutal Netflix survival drama about desperate adults competing in deadly children’s games for a chance to escape severe debt, hit a little too close to home for Lee Chang-keun. The show has captivated global audiences since its September debut on its way to becoming Netflix’s biggest hit ever. It has struck raw […]
NNPC Missing As China, Saudi Arabia Top World’s Biggest Oil Revenue Earners In 2021
The Nigerian National Petroleum Corporation (NNPC) has failed to make the latest list of the world’s highest income-grossing oil companies, both nationally-run and privately-owned. The list was compiled from the organisations’ 2020 audited financial statements. But NNPC on Sunday said although the repair of roads was not within its direct purview, it was willing to […]
At $42bn, Nigeria’s External Reserves Hit 25-month High On Eurobond Inflow
Nigeria’s external reserves have risen to its highest level in 25 months to $42 billion presently due to the inflow of the recent Eurobond issued by the federal government. Although, the Central Bank of Nigeria’s (CBN) latest update on its website showed that as of October 7, 2021, the Eurobond had grown by $3.587 billion […]
Nigeria Withholds Assent As 136 Countries Ratify 15% Corporate Tax
At least 136 members of the Organisation for Economic Cooperation and Development (OECD) and G-20 Nations at the weekend agreed to a 15 per cent corporate tax rate effective from 2023, though Nigeria withheld its assent. With their decision, the signatories projected that the agreement would reallocate over $125 billion profits from around 100 of […]
PTD Commence Nationwide Strike Over Bad Roads, Safety Among Others
There are significant signs that the Petroleum Tanker Drivers (PTD), section of the Nigeria Union of Petroleum and Natural Gas Workers, (NUPENG) may go on strike at any time today over the poor state of federal roads across the country, as well as two other unresolved problems. The tanker drivers’ other grievances include the federal […]
World Bank Raises Nigeria’s Growth Projection To 2.4%
The World Bank Group has raised its 2021 Gross Domestic Product (GDP) projection for Nigeria to 2.4 per cent, higher than the 1. 8 per cent it had estimated for the country. The multilateral institution also declared that Sub-Saharan Africa was set to emerge from the 2020 recession sparked by the COVID-19 pandemic with growth […]
Zuckerberg Loses $7bn In Hours As Facebook Plunges
Mark Zuckerberg’s personal wealth has fallen by nearly $7 billion in a few hours, knocking him down a notch on the list of the world’s richest people, after a whistleblower came forward and outages took Facebook’s flagship products offline. A selloff sent the social-media giant’s stock plummeting around 5% on Monday, adding to a drop […]
Nigeria Spends $2bn On Wheat Importation Annually, Central Bank Says
The Central Bank of Nigeria (CBN) on Sunday revealed that the importation of wheat costs the country about $2 billion annually, thereby exerting pressure on the country’s food import bill. This is just as the CBN has stated that the much-awaited Central Bank Digital Currency (CBDC), known as the eNaira would improve monetary policy effectiveness […]
Merck Covid Pill’s Success Slams Moderna Shares, Shakes Healthcare Sector
Positive clinical trial results for Merck & Co’s experimental antiviral COVID-19 pill reverberated through the healthcare sector on Friday, sending the drugmaker’s stock price soaring while denting high-flying shares of vaccine companies and makers of other coronavirus therapies. Merck shares jumped as much as 12.3% and hit their highest level since February 2020 after data showed the […]
