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Trump threatens 100% tariff on ‘any country that imposes digital services tax’ on U.S firms
United States President, Donald Trump, Friday, threatened to impose a 100 per cent tariff on all goods from any country that imposes a digital services tax on American companies. The U S President’s warning followed a day after European Union (EU)…
5 ECOWAS nations launch management authority for proposed $16bn Abidjan — Lagos highway project
Five member-states of the Economic Community of West African States (ECOWAS), including Nigeria, Côte d’Ivoire, Ghana, Togo, and Benin Republic, have formally launched the Abidjan–Lagos Corridor Management Authority, a regional body established to oversee the development and operation of the proposed…
SpaceX shares crash by $600bn in market value in one week, as Musk loses trillionaire status
SpaceX shares had peaked at $225.64 on June 16, but less than a week after the largest IPO in history, shares crashed to $147.11 briefly dipping below the opening price before recovering again to close at around $156. The slide wiped…
S/African labour unions warn workers to shun anti-migrant protests
Ahead of the June 30 planned nationwide protests by several anti-migrant activist groups in South Africa against African migrants, the country’s biggest labour platforms have warned workers to shun the marches. The labour unions stated that it will not guarantee…
FG dismisses IMF’s recommendation to introduce telecoms, petrol taxes in Nigeria
Federal Government says it has not adopted the International Monetary Fund (IMF) recommendation to the country to introduce petrol and telecommunications taxes in order to shore up revenue. Government also stated that it is not considering new taxes on telecommunications…
Naira undervalued by 25.6% — IMF, tells CBN to slow foreign reserves’ accumulation
International Monetary Fund (IMF) has stated that the Nigerian currency, Naira, is undervalued by as much as 25.6 per cent, noting that the fair exchange rate against the U.SDollar should be N1,142.04/$. The official forex rate stands at N1,356.27/$ as of…
Strait of Hormuz to reopen by Friday, as oil prices drop to 3-month low over U.S, Iran peace deal
Following announcement by the United States President, Donald Trump, last weekend, that a deal to end the near-four month war with Iran is ‘all signed,’ crude oil prices took a huge tumble to as low as below the $80 mark. This…
Iran war deescalated but oil market risk remains elevated __Rystad
Global energy consultancy Rystad Energy has described the newly signed Memorandum of Understanding (MOU) between the United States and Iran as a significant de-escalation of tensions rather than a lasting resolution, warning that geopolitical risks in global oil markets remain…
ExxonMobil’s gas project portends over 4% rise in Mozambique’s economy __ Standard Bank
Ziggy Ojiegbe Mozambique’s ambition to become one of the world’s leading liquefied natural gas (LNG) exporters appears to be moving closer to reality, with Standard Bank projecting that the ExxonMobil-led Rovuma LNG project could add more than four percentage points…
UK, Nigeria launch £15m investment, economic growth program
Frank Okon The United Kingdom and Nigeria have launched a new £15 million Growth Programme aimed at unlocking private investment, accelerating economic transformation and supporting Nigeria’s transition to sustained, reform-led growth. The initiative was announced by Baroness Jenny Chapman at…
