Global Business News
Global Business News
Global Business News
Abuja, Dec. 2, 2024 – The Debt Management Office (DMO) has offered two Federal Government of Nigeria (FGN) Savings Bonds for subscription. The DMO disclosed this on Monday. It said the first offer is a two-year FGN Savings Bond which will be due in December 11, 2026 at interest rate of 17.483 per cent per annum. The second offer is a three-year FGN Savings Bond which will be due in December 11, 2027 at interest rate of 18.483 per cent per annum. “Opening date is December 2, closing date is …
London, Nov. 29, 2024 – November was a month of clear winners and losers from Donald Trump’s Nov. 5 US election victory. Trump trades, essentially punishing tariff-sensitive assets from European exporters to Mexico’s peso and driving investment towards US stocks and the dollar, proved successful. Wall Street has rallied, the dollar gained 2% against rival major currencies and bitcoin surged. But December could be bumpy, with the Trump trade vulnerable to a potential bond market backlash against fiscal largesse, while tariffs might boost inflation and snarl up supply chains. The …
Washington, Nov. 26, 2024 – President-elect Donald Trump on Monday pledged big tariffs on the United States’ three largest trading partners – Canada, Mexico and China – detailing how he will implement campaign promises that could trigger trade wars. Trump, who takes office on Jan. 20, 2025, said he would impose a 25% tariff on imports from Canada and Mexico until they clamped down on drugs, particularly fentanyl, and migrants crossing the border, in a move that would appear to violate a free-trade deal. Trump also outlined “an additional 10% …
Abuja, Nov. 25, 2024 – The Tinubu Media Support Group (TMSG) says the Tinubu tax reforms will significantly boost businesses in Nigeria. It said it, therefore, expected the Organised Private Sector (OPS) to rally behind the tax reform actively to champion its passage into law. The group made this observation in a statement signed by its Chairman Emeka Nwankpa and Secretary Dapo Okubanjo. TMSG said it was worrisome that the business community was lukewarm in response to reforms that are clearly beneficial to its members. “We note that the Tinubu administration …
Abidjan, Nov. 25, 2024 – Micro, Small and Medium Enterprises (MSMEs), under the aegis of ECOWAS Small Business Coalition (ESBC), have proposed the creation of a railway corridor connecting all ECOWAS countries, in addition to the existing road network. They made the call at the end of their inaugural exhibition and workshop in Abidjan, Ivory Coast. ESBC organised the event with the ECOWAS Commission and Ivory Coast’s Ministry of Commerce and Industry. The coalition noted the difficulties the small business operators face in transporting their goods and services between and among member states and emphasised …
Lagos, Nov. 22, 2024 – The evolution of the Nigerian digital economy is to receive a boost with the training of 30 Nigerian startups on new digital skills. They are to be trained on new digital skills, mentorship, and resources needed to build scalable, sustainable tech ventures The training is being organised by Beyond Limits, an international organisation driving digital innovation, leadership transformation, and business growth. The training will be done in partnership with the U.S. Consulate General in Lagos, Nigeria, in the Beyond Limits Fellowship for Founders Cohort 3.0. …
Lagos, Nov. 21, 2024 – Leading global brands in the building, design and finance sectors are partnering with Ecobank Nigeria for its inaugural Design & Build Expo. The key partners include SABA Steel, Nigeria’s largest steel manufacturer; Coleman Wire & Cables, the leading cable producer in West Africa and Donna Spectre, a prominent indigenous oil and gas logistics company. Others are Dulux Paints, a top paint brand in Nigeria; HTL Africa, a forward-thinking architectural firm and ITB Nigeria Limited, leading Construction Company in Nigeria and West Africa. Other partners include …
Abuja, Nov. 21, 2024 – Nigerian banks have raised N1.682 trillion through e-offering in the bid to meet the new bank recapitalisation requirement. Dr Emomotimi Agama, the Director General of the Securities and Exchange Commission (SEC), said this on the sideline of the just concluded conference of the Chartered Institute of Stockbrokers in Ibadan, Oyo State. According to a statement issued By SEC on Wednesday, Agama said the amount was raised in 12 applications by nine banks, while some applications were still pending. Agama said e-offering was instrumental to the …
Washington, Nov. 18, 2024 – Investors this year have grown increasingly confident the US economy will achieve a “soft landing”, but the election of Donald Trump as the nation’s next president has complicated the outlook. And some economists now think it’s likely the US could face another inflation resurgence if Trump follows through with his key campaign promises. “We are in the soft landing,” Nobel prize-winning economist and Columbia University professor Joseph Stiglitz said at Yahoo Finance’s annual invesgtmnt conference. “But that ends Jan. 20.” Trump and his proposed policies have …
Abuja, Nov. 15, 2024 – The Federal Executive Council (FEC) has approved a $2.2 billion external borrowing plan to boost federal government’s financial position and support its economic reforms. Wale Edun, the Minister of Finance, disclosed this in Abuja on Thursday after the FEC meeting presided over by President Bola Tinubu. Under the plan, about $1.7 billion will be raised through Eurobond offer, while $500 million will be raised through Sukuk bonds. The minister said the plan would be executed in the current fiscal year with the final structure of …