Nigeria’s Minister of Solid Minerals Development, Dele Alake, said on Wednesday that mining development grants under a new government-backed programme would be awarded strictly on merit, with no consideration given to personal connections or influence. Alake spoke at the unveiling of the Early-Stage Mineral Exploration and Research Grant Endowment (EMERGE) Programme, an initiative aimed at...
Category: Business
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Sanwo-Olu Inaugurates West Africa’s First Additive Manufacturing Facility
Lagos State Governor Babajide Sanwo-Olu has inaugurated what he called West Africa’s first multi-technology industrial additive manufacturing facility. The governor said the project would help reduce Nigeria’s reliance on imported industrial components and spare parts. Speaking at the opening of the Arridex facility in Lagos, southwest Nigeria, Sanwo-Olu said local production of industrial parts would...
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Travel Disrupted Across France As SNCF Unions Stage Walkout
The strike was called by the four main unions representing SNCF workers CGT-Cheminots, Unsa Ferroviaire, SUD-Rail and CFDT-Cheminots. Union leaders are demanding a halt to the ongoing liberalisation of France’s rail sector, arguing that increased competition could threaten jobs and working conditions.
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Lagos Fishermen Seek Assistance As LASWA Intensifies Waterway Safety Enforcement
Fishermen operating on Lagos waterways have called for greater government support to cushion the impact of rising operational costs, even as the Lagos State Waterways Authority (LASWA) intensified efforts to enforce safety regulations across the state’s inland waterways. At a stakeholders’ engagement in Badagry, Lagos state Southwest Nigeria, LASWA reminded fishermen of mandatory safety requirements,...
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Indonesia Annouces Surprise Rate Hike As Rupiah Slides
Indonesia’s central bank unexpectedly raised its benchmark interest rate by 25 basis points on Tuesday, citing heightened global volatility and mounting pressure on the rupiah, as policymakers moved to shore up confidence in Southeast Asia’s largest economy. The move lifted the benchmark rate to 5.5%, more than a week ahead of the bank’s scheduled monthly...
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GSK To Acquire Nuvalent In $10.6 Billion Deal
British drugmaker GSK has agreed to acquire U.S. cancer-focused biotechnology company Nuvalent for $10.6 billion, strengthening its oncology portfolio with three experimental lung cancer treatments. The deal, announced on Tuesday, includes two late-stage therapies, zidesamtinib and neladalkib, which GSK said could be launched before the end of 2026, which is subject to regulatory approval. GSK...
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US Job Growth Remains Strong, Unemployment Holds Steady
US employers added a solid number of jobs in May while the unemployment rate remained unchanged, underscoring the resilience of the labour market despite concerns over slowing economic growth and the impact of trade policies. The Labour Department said on Friday that non-farm payrolls increased by 139,000 jobs in May, following a revised gain of...
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Nigeria Capital Market Adopts T+1 Settlement Cycle
Nigeria’s capital market on Monday transitioned to a T+1 settlement cycle, reducing the time required to complete securities transactions to one business day from two, in a move aimed at improving market efficiency, liquidity and global competitiveness. The reform, which took effect on June 1, was implemented by key market institutions including the Nigerian Exchange...
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Cost Of Healthy Diet Rises To N1,541 Per Day In March – NBS
According to the NBS, animal-source foods remained the most expensive component of a healthy diet, accounting for 39 per cent of the total cost while providing just 13 per cent of total calories. Fruits and vegetables were also among the costliest food groups relative to their calorie contribution, accounting for 16 per cent and 14 per cent of total diet costs respectively. Legumes, nuts and seeds remained the least expensive food group, contributing just seven per cent of the total cost.
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China Factory Growth Stalls In May As Energy Costs Rise
China’s factory activity stalled in May after two months of expansion, official data showed on Sunday, as weaker demand and rising energy costs linked to the Middle East conflict weighed on manufacturing growth. The official manufacturing Purchasing Managers’ Index (PMI) stood at 50.0 in May, according to data released by the National Bureau of Statistics...