The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 8 pips to 7.0723 against the dollar on Monday. This is according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by two per cent from the central parity rate…
The World Bank says 26 poorest countries worldwide “are deeper in debt than at any other time since 2006,” while being increasingly vulnerable to natural disasters and other catastrophes. In its analysis, the World Bank found that these 26 nations, which have an annual per capita income of less than 1,145 dollars a year, “are…
Air Peace has reacted to a report of fraud charge by the U.S. Department of Justice against its Chief Executive Officer, Dr Allen Onyema, and Chief of Finance/Administration, Mrs Ejiro Eghagha. In the statement on Sunday, the airline said that the matter was in court. “We understand that this may have raised concerns, and we…
The China Machinery Engineering Corporation (CMEC) has donated more than 11 tons of food supplies to the Borno Government for distribution to those affected by the recent flood in the state. Liu Shuai, a representative of CMEC in a statement on Sunday, said the initiative was part of the company’s corporate social responsibility and reflected…
United States experts urged policymakers to prioritize flexibility in regulating artificial intelligence (AI) technologies, arguing too strict rules could deter investment in AI innovation. A heated debate over AI regulation was sparked by the controversial Senate Bill 1047 in California which would have placed liability on AI developers for severe harm caused by their models….
The 2024 Nigerian-German Investment and Cultural Expo (NGICE) Organising Committee has sought the support of Nigerian Investment Promotion Commission (NIPC) to ensure success of the upcoming expo scheduled to be held in Berlin, Germany from Nov. 26 to 30. The committee made call in a statement jointly signed by the NGICE Organising Committee Chairman and…
The Lagos Chamber of Commerce and Industry (LCCI) has projected the participation of about one million visitors, 300 Chinese businesses alongside 15 other countries at the 2024 Lagos International Trade Fair (LITF). Prince Abimbola Olashore, Chairman, Trade Promotion Board, LCCI, made this known at a news conference on Wednesday in Lagos to detail activities of…
President Bola Tinubu on Wednesday congratulated Dr Zainab Shinkafi-Bagudu, on her election as President of the Union for International Cancer Control (UICC). Tinubu underscored the historic significance of Shinkafi-Bagudu’s election on Oct. 8 as the first African and the fifth woman to lead the global cancer control organisation. He noted the election attested to her…
An Agriculturist, Prof. Lateef Sanni, has stressed the need for collaboration among government, non-governmental organisations, international partners and local communities to achieve food security and create a sustainable future for Nigeria. Sanni, also the Executive Director, Nigerian Stored Products Research Institute, Ilorin, said this in an interview with the News Agency of Nigeria (NAN) on…
Israeli President Isaac Herzog has called on the world to support Israel in the fight against its enemies, as he spoke during a ceremony to mark one year since the Hamas terrorist attack. ‘This is a scar on humanity. This is a scar on the face of the Earth,’’ he said on Monday at the…
