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Plunging oil prices and collapsing state revenues have seen Nigerian authorities vow an end to a controversial fuel subsidy scheme long criticised as a graft-ridden drain on public finances, AFP reports. But there are major doubts that Africa’s most populous...
In a challenge to the US stock market’s recent optimism, the Fed predicted the US economy would shrink 6.5% in 2020 and unemployment would still be at 9.3% at year’s end. Data out earlier had also shown core US consumer...
France is likely to suffer 800,000 job losses in coming months, the finance minister has warned, as the economy reels from the effects of lockdown. Bruno Le Maire told a finance committee in parliament: Our evaluation is that 800,000 jobs will...
MTN Nigeria Communications Plc has raised N100 billion in its debut commercial paper (CP) issuance, making history as the largest debut issuance by any Nigerian company. MTN had planned initially to raise N50 billion under its registered N100 billion...
Many commercial and merchant banks have not complied with Federal Government’s directive to resume full operations. The order was part of the second phase of the lockdown announced on last week. Chairman of the Presidential Task Force (PTF) on COVID-19, Boss...
Chinese foreign trade fell 9.3 per cent in May compared to the same period last year, Chinese customs officials said in Beijing on Sunday. Exports fell 3.3 per cent calculated in U.S. dollars, while imports fell by as much as...
Following the call of the United States for independent probe of Akinwumi Adesina, the Board of Governors of the African Development Bank (AfDB) has bowed to US pressure and ordered an independent probe of the bank’s president. Despite the call...
About 98 percent companies in Nigeria kept their workforce despite the negative impacts of coronavirus on business,the Nigeria Purchasing Managers’ Index (PMI) report has revealed. As a result, employment in Nigeria decreased marginally despite predictions to the contrary in the...
Even as more than 42 million people have signed on as unemployed in the US, the countries billionaires have added half a trillion dollars to their combined wealth, according to a think tank report. During the 11 weeks from March...
African equity capital markets activity have seen a downward trajectory over the past three years as major economies on the continent are faced with fiscal challenges due to growing debt levels and slow economic growth. Data presented from the PricewaterhouseCoopers...

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