Finance

Gulf sovereign wealth and private capital are moving swiftly to plug a growing gap in Africa’s development scene, as Beijing eases back from its once-dominant role as the continent’s chief financier. from 2012 to 2022, Gulf Cooperation Council nations splashed […]

The United States and China have announced that they have reached a deal to reduce reciprocal tariffs temporarily, as the world’s two largest economies work to resolve a trade war that has unsettled the global economic outlook and rattled financial […]

Analysts at JPMorgan estimated that the price of gold could reach $6,000 per ounce by 2029, up from about $3,300 now, if just 0.5% of U.S. assets held by foreign investors is reallocated to the precious metal. Gold has been on […]

The high-level meeting on economic and trade affairs between China and the U.S. in Geneva was candid, in-depth and constructive, Chinese Vice Premier He Lifeng said on Sunday. Substantive progress has been made and important consensus has been reached between […]

California’s economy has surpassed Japan’s, making the Golden state the fourth largest economy in the world, Governor Gavin Newsom announced on Thursday. The state’s nominal GDP reached $4.1tn, according to data from the International Monetary Fund and the US Bureau of Economic Analysis, […]

Korean shipping companies and shipbuilders are emerging as potential beneficiaries of the U.S. Trade Representative’s (USTR) recent decision to impose new port fees on ships built or operated by Chinese firms. Citing the low share of Chinese-built vessels in HMM’s fleet, […]

The European Union’s first preference is to reach a negotiated solution with the United States over trade, but if discussions do not lead to a solution, the EU will respond with countermeasures, European Union Commissioner for the Economy Valdis Dombrovskis […]

Chinese Ambassador to Nigeria, Yu Dunhai, says the challenges posed by the tariffs which the U.S. recently imposed on global trade will bolster China-Nigeria economic and trade ties. Mr Yu, who made this known during a news conference on Friday […]

Over the past decade, Africa’s mineral reserves have attracted increasing attention from global powers. In December 2024, U.S. President Joe Biden made a strategic visit to Angola, signaling America’s renewed interest in Africa’s resources. This visit coincided with China’s growing influence in the region, as […]

Some of Nigeria’s leading companies incurred a combined forex loss of N2.17 trillion in the financial year 2024, according to data collated by Nairametrics from published financial statements. The sheer size and magnitude of the losses were so significant that they negatively […]