The World Bank said on Monday it had lowered its economic growth forecast for sub-Saharan Africa this year to 3 per cent from 3.4 per cent, mainly due to the destruction of Sudan’s economy in a civil war. However, growth is expected to remain comfortably above last year’s 2.4 per cent thanks to higher private…
The West and Central Africa Wheat Development Network (WECAWheat), has called on member Governments to prioritise enacting and enforcing policies that support strategic investments in wheat production in the region. WECAWheat made the call in a communiqué issued at the end of its Second Regional Summit in Abuja on Monday. The summit sought for a…
The Federal Government has urged Nigerians living in China to continue to promote the country’s cultural heritage toward fostering nation-building. The government also urged them to live peacefully with their hosts at all times. Amb. Akinremi Bolaji, Director of Trade, Economic, and Investment, Ministry of Foreign Affairs, gave the advice in his virtual address on…
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…
