Economy - Page 20

The Bank of England is widely expected to cut its key interest rate by a quarter point on Thursday as US President Donald Trump’s planned tariffs threaten to weaken economic growth. It follows the Federal Reserve’s decision Wednesday to freeze US borrowing

The Senate has passed two out of four major tax reform bills, marking a significant milestone in the ongoing overhaul of the nation’s tax administration framework. The two bills, one seeking to repeal the Federal Inland Revenue Service (Establishment) Act and another

OpenAI has agreed to buy artificial intelligence-assisted coding tool Windsurf for about $3 billion, Bloomberg News reported on Monday, citing people familiar with the matter. The deal has not yet closed, the report added. Windsurf, formerly known as Codeium, had recently been

MTN Nigeria Communications Plc has declared a profit after tax of N133.7 billion for the first quarter (Q1) ended March 31, 2025, from a loss of N392.7 billion recorded in the first quarter of 2024. From the profit and loss figures, the

Warren Buffett, the world’s fifth-richest person with an estimated net worth of about $169 billion, has announced his retirement as CEO of Berkshire Hathaway at age 94. At the company’s annual meeting in Omaha, he revealed Greg Abel would take over by

Oil gained more than $1.50 per barrel on Tuesday, rebounding on technical factors and bargain hunting. Although concerns about a market surplus persisted, the increase was fueled after a decision by OPEC+ to boost output sent prices down in the previous session,

MTN Nigeria Communications Plc has declared a profit after tax of N133.7 billion for the first quarter (Q1) ended March 31, 2025, from a loss of N392.7 billion recorded in the first quarter of 2024. From the profit and loss figures, the

Access Holdings has appointed Ibironke Adeyemi as an Independent Non-Executive Director, following the resignation of Oluseyi Kumapayi (FCA) as a Non-Executive Director. The company says her appointment, which was approved by the Central Bank of Nigeria (CBN), became effective on April 15,

The federal government has stated that Africa loses an estimated $88.6 billion annually to illicit financial flows, with Nigeria accounting for approximately 20% of these losses. Estimation brings the amount lost by Nigeria to $17.72 billion. This was disclosed by the Minister

Oil prices steadied on Thursday, a day after a steep decline triggered by signs that Saudi Arabia, the world’s biggest crude exporter, may raise output and data showing a contraction in the economy of the U.S., the world’s biggest oil consumer. Brent

The naira has maintained relative stability in the foreign exchange (FX) market as the Central Bank of Nigeria (CBN) dollar inflow fluctuates in the market. Nigeria’s gross external reserves declined by eight per cent year-to-date to $37.84 billion as of April 28,

The Corporate Affairs Commission (CAC) has issued a six-week notice to unregistered businesses to register with the Commission. This was disclosed in a statement issued by the CAC on Tuesday, titled: “PUBLIC NOTICE: CARRYING ON BUSINESS IN NIGERIA UNDER AN UNREGISTERED NAME