China’s top leaders and policymakers are considering allowing the yuan to weaken in 2025 as they brace for higher trade tariffs in a second Donald Trump presidency in the United States.The contemplated move reflects China’s recognition that it needs bigger economic stimulus to combat Trump’s threat of bigger tariffs, people with knowledge of the matter...
Category: Business and Economy
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US JUDGE REJECTS MUSK’S $101BN TESLA PAY PACKAGE
Chancellor Kathaleen St Jude McCormick has upheld a decision to deny Tesla CEO Elon Musk a multibillion-dollar pay package despite shareholders voting to restore the compensation deal.The decision by the Delaware judge on Monday reaffirmed an earlier ruling to void the pay deal on the basis that Tesla’s board was too close to Musk and...
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FG IMPLEMENTS N50 ELECTRONIC LEVY ON FINTECH TRANSACTIONS OVER N10,000
The federal government has officially commenced the deduction of a N50 levy on electronic transfers of N10,000 and above, effective 1 December 2024. The levy, known as the Electronic Money Transfer Levy (EMTL), applies to transfers received through financial technology platforms, including Opay, Moniepoint, and Kuda, among others.This follows an earlier announcement by the Federal Inland...
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166 WTO MEMBERS REACHES AGREEMENT TO REAPPOINTS DR. OKONJO-IWEALA
“It is with humility and a great sense of honour that I thank each and every one of the 166 WTO members for the consensus they achieved in supporting my reappointment!“Thank you for the wonderful words of recognition and support. I don’t take this lightly. I also want to thank my colleagues in the Secretariat...
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DG WTO REAFFIRMS COMMITMENT TO DELIVER RESULT AS GENERAL COUNCIL REAPPOINTS HER FOR ANOTHER FOUR-YEAR TERM
Following her reappointment as the Director-General of the World Trade Organization (WTO), by the General Council to appoint her for a second four-year term, which will commence on 1 September 2025, Dr. Ngozi Okonjo-Iweala reaffirmed her commitment to the organization.The DG on Friday shortly after her reappointment pledged to work alongside dedicated staff in building...
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PHOTO; GENERAL COUNCIL HAS APPOINTS DG WTO OKONJO-IWEALA FOR A SECOND TERM.
Congratulations are in order as the General Council has appointed Director-General World Trade Organization (WTO) Dr. Ngozi Okonjo-Iweala for a second term, effective 1 September 2025. WTO made the announcement on Friday via its X handle.Dr. Okonjo-Iweala is a Nigerian Economist who became the first woman and first African to lead the World Trade Organization...
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GOOGLE AND META ASK FOR AUSTRALIA FOR MORE TIME ON SOCIAL MEDIA BAN FOR CHILDREN
Google and Facebook-owner Meta Platforms urged the Australian government on Tuesday to delay a bill that will ban most forms of social media for children under 16, saying more time is needed to assess its potential impact.Prime Minister Anthony Albanese’s center-left government wants to pass the bill, which represents some of the toughest controls on children’s social media use imposed...
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STATE HOUSE PRESS RELEASE – PRESIDENT TINUBU CELEBRATES REVIVAL OF PORT HARCOURT REFINERY AND DIRECTS NNPC LIMITED TO PROMPTLY REACTIVATE WARRI AND KADUNA REFINERIES
President Bola Tinubu extends his heartfelt congratulations to the Nigeria National Petroleum Company Limited (NNPCL) on the successful revitalization of the Port Harcourt refinery, marked by the official commencement of petroleum product loading on November 26, 2024. The President acknowledges the pivotal role of former President Muhammadu Buhari in initiating the comprehensive rehabilitation of all...