Tags : Economy

IMF Revises Global Economy Growth Forcast To 5.9%

The International Monetary Fund has reduced its headline forecast for global economic growth this year by 0.1 percent to 5.9 percent while leaving its projections for 2022 unchanged at 4.9 percent. IMF’s latest outlook released on Tuesday showed that global economy had not recovered from last year’s COVID-19 disruption, stating the “dangerous divergence” between richer […]Read More

Foreign Airlines Slash Ticket Sales To Nigeria Routes

Foreign airlines operating in Nigeria would begin the reduction of the total number of tickets they sell on Nigerian routes amid worsening dollar scarcity. According to the International Air Transport Association (IATA)–the global body for international carriers, foreign airlines operating in Nigeria had been unable to repatriate about $144m (N60bn) in ticket sales back to […]Read More

Inflation Bites Harder In Nigeria As Food Price Rises By

A market survey report by People’s Gazette has revealed the drastic rise in food prices as the country suffers another wave of food inflation growth in the last quarter of the year. Food inflation rose by 21.03 percent due to the constant depreciation of the naira against the dollar and rigid importation laws by the […]Read More

Zimbabwe Central Bank Freezes Accounts Over Illegal Foreign Transfers

30 bank accounts has been frozen by the Central Bank Of Zimbabwe for illegally exchanging foreign currency through mobile phones and social networks, according to an official statement on Tuesday. The apex bank said it had identified 30 people “abusing mobile telecommunication services and other social media platforms” for “illegal foreign exchange transactions and money […]Read More

Aluminium Prices Surges To A 10-Year High As Conflict In

Aluminium prices have climbed to the highest in more than a decade as political unrest in Guinea fuels concerns over the supply of raw material needed to make the metal.  On Monday, prices of aluminium in London notched a fresh 10-year high and futures in China climbed to the highest since 2006 following a coup […]Read More

Which Are The Strongest African Currencies?

Factors such as interest rates, economic policies and stability influence the strength of any currency according to financial experts. Currencies with relatively higher interest rates attract foreign investors, increasing demand and price, thereby making them more robust and tradable. In Africa, some currencies fall in this category. A country’s economic policies also help to keep […]Read More

Proposed Global Minimum Corporate Tax Rate Gathers More Support

President Biden’s proposal of a 15% global minimum corporate tax rate has garnered support from 130 countries and jurisdictions including China and India. The move represents the largest overhaul of the global tax system in more than a century and has the potential to curb tax avoidance by corporations that move their operations to countries […]Read More

Angola To Commence Light Rail Project In 2022

The Angolan government’s new surface metro project in its megacity Luanda is proof that it is taking seriously the United Nation’s recommendation on implementing urban infrastructures that are environmentally friendly. The United Nations had in recent times asked that countries look toward implementing solutions for sustainable urban growth that focuses on making mobility more environmentally […]Read More

10 Richest Countries Vs 10 Poorest Countries In The World

Declared a global emergency in 2020, the Covid-19 pandemic did not only have a detrimental effect on global healthcare systems but the global economy was also affected badly, with countries having to flatten the virus spread curve by shutting down nearly all its revenue-creating sectors. Over a year down the line, the world economy is […]Read More

External Reserves Losses $178m In March

The Central Bank of Nigeria has revealed that the country’s foreign reserves has lost $178m as at the end of March 2021. The reserves which stood at $34.99bn as of the end of March 1, dropped to $34.82bn as of the end of March 31 2021. In February, the reserves fell from $36.19bn as of […]Read More