The Nigerian stock market, as measured by the All-Share Index (ASI), experienced a sharp downturn during the trading week ending January 17, 2025. This decline broke a six-week streak of consecutive gains, with the market impacted by losses in key sectors such as industrial goods and insurance. The All-Share Index fell by 3,097.38 points, closing…
Omar Marmoush is on the brink of completing a monumental €80 million transfer (€75m upfront) from Eintracht Frankfurt to Premier League champions Manchester City. This move comes off the back of an extraordinary season in the Bundesliga, where the 25-year-old Egypt international has lit up the league with 20 goals and 14 assists in just…
Brazilian government has officially announced Nigeria’s admission as a partner country in the BRICS bloc. The announcement was made by Brazil’s Ministry of Foreign Affairs in a statement on Friday, highlighting the shared priorities and common goals that unite Nigeria and BRICS member states. With a population of over 223 million—the largest in Africa—and as…
In a major boost for Manchester City, Erling Haaland has signed a new 9.5-year contract, extending his stay at the Etihad Stadium until 2034. The Premier League champions announced the deal on Friday, marking a long-term commitment from one of football’s brightest stars. The 24-year-old striker’s previous contract was set to expire in June 2027,…
The Nigeria Governors’ Forum (NGF) has voiced strong opposition to any plans to increase the Value Added Tax (VAT) rate, stressing the need for reforms that safeguard economic stability and prioritize the welfare of Nigerians. During a meeting with the Presidential Tax Reform Committee on Thursday, the governors discussed the country’s fiscal policies and outlined…
President-elect Donald Trump credited his incoming administration for playing a decisive role in the recently announced ceasefire agreement between Israel and Hamas. The deal, which involves the release of Israeli hostages in exchange for Palestinian prisoners, is awaiting approval from Israel’s security cabinet. Once ratified, it is set to go into effect on Sunday, just…
Nigeria’s foreign exchange (FX) reserves have taken a notable hit, losing $359.81 million in just one week. As of January 13, 2025, the reserves stood at $40.56 billion, marking a sharp decline from the $40.91 billion peak recorded on January 7, 2025. This drop underscores a concerning downward trend, with implications for the country’s economic…
Romania’s energy ministry has flagged significant national security concerns regarding the proposed sale of E.ON Energie Romania to Hungary’s state-owned energy company, MVM. E.ON Energie Romania, one of the country’s largest energy providers with 3.4 million customers, plays a critical role in Romania’s energy landscape. The potential buyer, MVM, relies heavily on Russian gas, raising…
Social media giant TikTok has announced plans to cease its operations in the United States this Sunday, 19th January, 2025 if a legislator-mandated ban takes effect. The decision would impact over 170 million American users, marking a significant turning point in the app’s presence in one of its largest markets. The shutdown requires TikTok to…
In a historic breakthrough, Israel and Hamas have agreed to a ceasefire in Gaza, coupled with the exchange of Israeli hostages for Palestinian prisoners. This landmark agreement comes after months of intense negotiations mediated by Egypt and Qatar, with substantial backing from the United States. The timing of the deal is notable, as it precedes…
