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Business News

IMF Downgrades Nigeria’s Economic Growth Forecast to 2.9% Amidst Challenges, Sees Potential for 3.1% in 2024

Marrakech, Morocco - October 10, 2023 - The International Monetary Fund (IMF) has revised its economic growth projection for Nigeria, downgrading it to 2.9...

Domestic Airlines Seek Government Approval for JetA1 Fuel Import and Access to Foreign Exchange

Abuja, Nigeria - October 10, 2023: Domestic airlines operating under the umbrella of the Airline Operators of Nigeria (AON) have made a formal request...

Ajaokuta Steel Complex to Generate 500,000 Jobs Upon Completion

Nigeria's Ajaokuta Steel Complex, a colossal industrial project initiated during the administration of former President Shehu Shagari in 1979, is on the brink of...

U.S. Commerce Department Adds 42 Chinese Companies to Export Control List Amidst Russian Ukraine War

Washington, D.C. - In a significant escalation of efforts to curb support for Russia's military and defense industrial base, the U.S. Commerce Department has...

Recycling Crucial to Easing Critical Minerals Supply Strain, IEA Reports

During the recent Critical Minerals and Clean Energy Summit, the International Energy Agency (IEA) made a compelling case for recycling as a viable solution...

September Job Surge: U.S. Employment Rises Sharply, But Wage Growth Slows

In a much-anticipated report released by the U.S. Labor Department on Friday, U.S. employment experienced its most significant increase in eight months, bolstered by...

HMD Global’s Nokia XR21 Marks Europe’s First 5G Smartphone Manufacturing, Prioritizing Security and Data Privacy

London, United Kingdom - HMD Global, the licensee of Nokia-branded smartphones, has reached a significant milestone by becoming the first major smartphone company to...

Nigerian Banks Grapple with Soaring Impaired Loans Amid Economic Slowdown

Nigerian banks have experienced a significant increase in impaired loans, reflecting the economic slowdown in recent years. Zenith Bank, Guaranty Trust Holding Company (GTCO),...

Businesses Encouraged to Heighten Cybersecurity Measures Amid Escalating Threats

In an era where digitization and data reign supreme, businesses are grappling with an ever-growing challenge: cybersecurity and data privacy. A recent report sheds...

Shell CEO Faces Internal Pressure to Maintain Renewable Energy Investments

London, September 27th- Shell CEO Wael Sawan is facing mounting pressure from within the company over his strategy, as two employees have issued a...

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