Nigeria’s January Inflation Rates at Near 4-Year High
Nigeria’s annual inflation rate climbed for a 17th straight month to 16.47% in January of 2021, according to figures released by Nigeria’s National Bureau of Statistics. It was the highest inflation rate since April of 2017, as food inflation hit an over 12-year high of 20.57% linked to pandemic disruptions, insecurity in food producing states, dollar […]
World’s Largest Miner BHP Reports Best First Half Profit in Seven Years
BHP Group on Tuesday reported its best first-half profit in seven years and declared a record interim dividend, as top metals user China’s strong appetite for iron ore to support its infrastructure push kept prices elevated. China’s reliance on commodity-intensive stimulus measures to sustain economic growth has sent prices of the steel making ingredient to […]
Ngozi Okonjo-Iweala Makes History As First Female, First African DG Of WTO
Former Nigerian Minister of Finance, Dr Ngozi Okonjo-Iweala, has finally been chosen as Director-General of the World Trade Organisation (WTO). Ms Okonjo-Iweala will assume office on 1 March 2021 and will become the first woman and the first African to be chosen as Director-General. Her term, renewable, will expire on 31 August 2025. “This is […]
Elon Musk Says He Supports Top Dogecoin Holders Selling Their Coins
Billionaire Elon Musk said on Sunday that he supports major holders of the meme-based digital currency dogecoin selling most of their coins, adding that he felt too much concentration in dogecoin was the “real issue”. “If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the […]
Nigeria Banks On Finance Act For Quick Economic Recovery
Nigeria’s federal government has expressed optimism that the implementation of the Finance Act, 2020 and Strategic Revenue Growth Initiative (SRGI) will stimulate the economic recovery process through initiatives capable of growing fiscal revenues, improve Ease of Doing Business (EoDB), counteract the impact of oil price fluctuations and integrate fiscal, monetary and trade policies. The Finance […]
How 270 Crypto Addresses Laundered $1.3bn In 2020
Criminals are using a small group of cryptocurrency brokers and services to launder hundreds of millions of dollars of dirty virtual money, research shared with Reuters showed on Thursday. Just 270 crypto currency addresses, many connected to over-the-counter brokers, received $1.3 billion in illicit digital coins last year – some 55% of all criminal crypto […]
Mastercard To Allow Customers Transact In Select Cryptocurrencies On Its Network
Mastercard Incorporated has said it will offer support for customers and begin to accept cryptocurrencies on its network in 2021 as it prepares for “the future of crypto and payments”. Mastercard Incorporated is an American multinational financial services corporation headquartered in New York, United States. Executive Vice-president for digital assets, blockchain products and partnerships, Raj […]
Toyota Posts 54% Rise In Third-quarter Operating Profit, Hikes Full-year Forecast
Japan’s Toyota Motor Corp on Wednesday reported a bigger-than-expected 54% jump in third-quarter profit and jacked up its full-year earnings forecast, boosted by a rebound in demand for cars as the coronavirus pandemic’s impact recedes and sales climb in China in particular. Toyota, the biggest automaker globally by vehicle sales, said operating profit rose to […]
Cuba Opens Up Economy To Private Businesses
Cuba has announced it will allow private businesses to operate in most industries, in what is a major reform to its state-controlled economy. Labour Minister Marta Elena Feito said the list of authorised industries had expanded from 127 to more than 2,000. Only a minority of industries would be reserved for the state, she said. […]
Okonjo-Iweala Thanks Nigerians, Buhari, U.S. For Support
Former Minister of Finance, Dr Ngozi Okonjo-Iweala, has thanked Nigerians and President Muhammadu Buhari for their support following her emergence as the sole candidate for the top job at the World Trade Organisation (WTO). She also extended her appreciation to the United States government after the country endorsed her to become the Director-General of the […]
