BUSINESS

The EFCC announced the arrest of 34 individuals suspected of involvement in foreign exchange (FX) fraud. The arrests took place in Wuse Zone 4, Abuja, on April 26, following a sting operation based on credible intelligence regarding illegal dollar sales.
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1 year ago Read more at Legit.ng

The federal government will pin down Ways and Means advances to deal with the problem of too much liquidity in the system to stem inflation. The minister of finance and coordinating minister of the economy, Wale Edun, spoke to journalists in Washington DC, United States, shortly after a meeting with investors at the on-going spring meetings of the International Monetary Fund (IMF) and the World Bank. Edun said the fiscal and monetary authorities are also working towards bringing down inflation.
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1 year ago Read more at TV360

Indonesia plans to relocate its capital from Jakarta to Nusantara. The new city will cost $35 billion and won't be finished until 2045. Jakarta at risk of sinking due to rising sea levels.
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1 year ago Read more at Business Insider

About 33 percent of Chinese companies reported a deterioration in the business environment within the European Union in 2023, according to a report released by China's top foreign trade and investment promotion agency. Some EU member economies have developed a toolkit of protectionist policies, which have made it more difficult for foreign companies to invest, merge, acquire or participate in public procurement within the EU.
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1 year ago Read more at China Daily

Starting on May 6, mainland Chinese individuals holding business visas for Macau will be able to extend their stay in the city by an additional week, from seven to 14 days. These measures, which also apply to Hong Kong, aim to cater to the increasing demands of cross-border businesses. The set of measures also includes online processing, on a trial basis, of all formalities for the renewal and new issuance of travel documents in Beijing and 19 other cities.
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1 year ago Read more at Macau Business

Agoa Renewal and Improvement Act (Agoa) is expected to extend to 2041. Enacted in 2000, afCFTA is due to expire next year. The proposed bill will require a Forum to be held annually.
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1 year ago Read more at The East African

a gold watch found on the body of the richest passenger on the Titanic was auctioned in England for £1.17 million ($1.46 million), AFP reported on April 27. The sum was a record sum for an object linked to the 1912 shipping disaster. A US buyer won the bidding war, smashing the auctioneer's pre-sale estimate of £100,000 to £150,000.
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1 year ago Read more at Business Today

The swoop on Anglo American - the second FTSE 100 firm to receive a takeover bid this year - has sparked speculation over which company will be next. City analysts think vulnerable blue-chip stocks include BP, Unilever, BP and Reckitt Benckiser. Other targets include names such as Dr Martens and Aston Martin.
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1 year ago Read more at Business Plus

Loan origination value rose 13% y-o-y to Rs 2.3 trillion as on December 31. The report showed that there is a shifting borrower preferences towards smaller-ticket loans during festive season. Non-banking financial companies hold a nearly 71% market share in terms of volume. In another development - Brokerage firms are bullish on Reliance Industries.
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1 year ago Read more at The Indian Express

Musk was scheduled to meet with Prime Minister Narendra Modi and announce plans to enter the Indian market but postponed it citing 'Tesla obligations. Musk is seeking to meet senior Chinese officials in Beijing to discuss the rollout of Full-Self Driving (FSD) software in China.
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1 year ago Read more at Business Today