Shares of H&M jumped on Thursday after the high street retailer posted better-than-expected results in the fiscal third quarter, and its turnaround strategy showed signs of gaining pace. Shares were up 10% by 8:48 a.m. London time (3:20 a.m. ET). Operating profit at the fashion retailer rose 40% year-on-year to 4.9 billion Swedish krona ($522…
The Depot and Petroleum Products Marketers Association of Nigeria has called on the Dangote Refinery to make its fuel supply more accessible to marketers and sell products at affordable rates. The spokesperson for the association, Ikem Ohia, said on Channels Television’s The Morning Brief on Wednesday that closer collaboration with the refinery would ensure a…
President Bola Tinubu on Wednesday conferred national honours of the Commander of the Order of the Niger posthumously on four late Ogoni leaders. They are Albert Badey, Edward Kobani, Theophilus Orage, and Samuel Orage, popularly remembered as the Ogoni Four. President Tinubu bestowed the honours on the four leaders while receiving the report of the…
The Monetary Policy Committee of the Central Bank of Nigeria has reduced the country’s benchmark interest rate to 27.00 per cent, the first cut in 2025 after three consecutive pauses. CBN Governor Olayemi Cardoso announced the decision at a press briefing on Tuesday in Abuja following the conclusion of the 302nd MPC meeting held on…
The naira strengthened by 0.36 per cent or (N5.48) on Monday to N1,526.09 per dollar from N1,531.57 per dollar at the previous trading session, indicating a strong start to the new week and month. This is the strongest rate that the naira has traded in about six weeks on the Nigerian Foreign Exchange Market, according…
The IT company CEO captured in a widely circulated video showing him embracing an employee at a Coldplay concert has resigned. Andy Byron resigned from his job as CEO of Cincinnati-based Astronomer Inc., according to a statement posted on LinkedIn by the company Saturday. “Astronomer is committed to the values and culture that have guided…
President Donald Trump says he is not planning to extend a 90-day pause on tariffs on most nations beyond July 9, when the negotiating period he set would expire, and his administration will notify countries that the trade penalties will take effect unless there are deals with the United States. Letters will start going out…
Recent falling oil prices are delaying a deal by Nigeria and Saudi Arabian oil company, Aramco, as both parties struggle to reach an agreement on a record $5 billion oil-backed loan. Banks that were expected to back the deal, four sources told Reuters, are raising concerns over the current situation of the oil market, the…
The World Bank has declared that trade tensions which have been triggered by the United Sates President, Donald Trump, and policy uncertainty were expected to drive global growth down in 2025 to its slowest pace since 2008, outside of outright global recessions. According to the World Bank’s latest Global Economic Prospects report, the turmoil has…
Dr. Sidi Ould Tah, Director General of the Arab Bank for Economic Development in Africa (BADEA), has been elected as the new President of the African Development Bank (AfDB), ushering in a fresh chapter for the continent’s premier development finance institution. After three intense rounds of voting, Dr. Ould Tah clinched the top seat with…
