U.S. President Donald Trump has said that a largely negotiated memorandum of understanding aimed at ending the conflict with Iran would reopen the Strait of Hormuz, although Iranian media disputed his characterization of the emerging agreement. In a post on Truth Social, Trump said final details of the deal were still being discussed and would...
Tag: Business
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Global Wine Consumption Falls As Consumers Tighten Spending
Global wine consumption fell in 2025 as economic pressure, shifting lifestyles and changing consumer habits weighed on demand, the industry’s trade body said on Tuesday. The International Organisation of Vine and Wine (OIV) said in its annual review that the sector faced “a combination of climatic variability, softer demand and rising trade uncertainty” in 2025....
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China Trade Growth Beats Forecast Despite Middle East War
China’s trade growth accelerated sharply in April, official data showed on Saturday, defying pressure from the Middle East conflict and reversing a recent decline in exports to the United States. Exports from the world’s second-largest economy rose 14.1% year-on-year in April, according to data from China’s General Administration of Customs, far exceeding a Bloomberg forecast...
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India Orders Pernod Ricard Probe Over Retail Deals
India’s antitrust regulator has ordered an investigation into French spirits maker Pernod Ricard over allegations it struck exclusive arrangements with retailers to boost sales of its brands at the expense of rivals. The Competition Commission of India (CCI) said in an order issued on Friday that the company allegedly offered financial assistance worth 200 crore...
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Zenith Bank Founder Ovia Retires, Bello Named Chairman
Zenith Bank Plc said on Tuesday its founder and Group Chairman, Jim Ovia, has retired following the expiration of his tenure in line with regulatory guidelines. The lender disclosed the development in a corporate filing to the Nigerian Exchange Ltd. It added that the retirement complies with the Central Bank of Nigeria’s corporate governance rules...
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Dangote Group Denies Rift Claims, Rejects Fabricated Refinery Funding Story
Dangote Group has denied claims that its founder, Aliko Dangote, fell out with Tony Elumelu, chairman of United Bank for Africa, describing the allegations as false and malicious. The rebuttal follows a post on X by a user alleging that Dangote had said he ran out of funds in 2021 while building the Dangote Petroleum...
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Samsung Posts Record Revenue Despite Weak Demand
Samsung Electronics reported a 43% rise in first-quarter revenue to 133.9 trillion Korean won, its highest quarterly performance, despite weak demand in some business segments. In financial results released this week, the company said operating profit rose to a record 57.2 trillion won for the quarter ended March 31, 2026, highlighting strong earnings momentum amid...
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China Southern Airlines Orders 137 Airbus A320neo
China Southern airlines has ordered 137 single-aisle Airbus A320neo planes for about $21.4 billion. In a statement to the Shanghai stock exchange, the airline said it will take 102 planes for itself and 35 for its XiamenAir subsidiary. Airbus has confirmed the order for the delivery of China Southern planes between 2028 and 2032, while...
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Nokia Names Egypt Regional Hub For Mideeast, Africa Support
Nokia has designated Egypt as its regional support hub for the Middle East and Africa, establishing a centralised operational base in Cairo to enhance service delivery and customer support. The move comes as digital transformation accelerates across the region, driven by the expansion of 5G networks, increased cloud adoption and rising data consumption. These trends...
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