Two banks holding national banking licences are reportedly in talks to merge as the recapitalisation deadline set by the Central Bank of Nigeria (CBN) nears.
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- First Bank, FCMB, 4 others seek N731 billion to meet CBN recapitalisation as deadline nears
- New tax law replaces reliefs with rent-based deductions, capped at N500k
- Good news as prices for beans, garri, rice, yam, and other food items drop
- Apple Watch gets revamped blood oxygen feature
- FIRS rolls out e-invoicing to curb tax evasion, targets N5bn turnover firms
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Davos founder Schwab cleared of misconduct by WEF probe
An investigation conducted by the World Economic Forum's board on Friday cleared the body's founder Klaus Schwab and his wife of wrongdoing, after a probe into whistleblower complaints. "Following a thorough review of all facts, the Board has concluded that ... there is no evidence of material wrongdoing by Klaus Schwab," the board announced.
US retail sales rise amid limited consumer tariff hit so far
US retail sales rose moderately in July, according to data released Friday, as markets monitor tariffs that do not so far appear to have significantly battered consumers. Analysts described the report as solid, but some pointed to a greater risk of weakening in retail sales in the second half of 2025 following disappointing recent labor market data.
Nigeria's inflation rate drops to 21.88% in July, as rice, beans, other food items prices change
The National Bureau of Statistics (NBS) has revealed that Nigeria's inflation report for the fourth consecutive month has declined including food inflation.
Deadline looms to avert Air Canada strike
Air Canada faced a midnight deadline Friday to avert a flight attendants strike that would shut down service, creating summer travel chaos for the carrier's 130,000 daily passengers. Air Canada detailed its latest offer in a Thursday statement, specifying that under the terms a senior flight attendant would on average make CAN$87,000 ($65,000) by 2027.
FG rolls out N10m interest-free loans for University, Polytechnic staff as part of empowerment drive
The Nigerian government has launched a massive empowerment scheme for lecturers and non-teaching staff of tertiary institutions, which allows them to get N10m loans.
World's first humanoid robot games begin in China
The world's first-ever humanoid robot games began Friday in Beijing, with over 500 androids alternating between jerky tumbles and glimpses of real power as they compete in events from the 100-metre hurdles to kung fu.
Five things to know about Nigeria's oil sector
Africa's biggest oil refinery will on Friday start direct and free shipping of fuel to retailers in Nigeria, a move expected to disrupt the oil sector in the continent's largest crude producer. For decades, Nigeria has been shipping crude to Europe for refining, and the country experienced sporadic fuel shortages until the Dangote refinery came on board, resulting in improved supplies.
Asia stocks mixed before US-Russia summit
Asian stocks were mixed Friday after better-than-expected Japanese growth and weak Chinese data, while oil slipped back ahead of a US-Russia summit on Ukraine. Oil prices dipped, reversing gains on Thursday ahead of Trump's Alaska summit with Russian President Vladimir Putin on ending the Ukraine war.
Trump's tariffs drown Brazil's fish industry
When the water pump is switched on, hundreds of tilapia come to the surface of a pond at a Brazilian fish farm. Fider Pescados, Brazil's second biggest exporter of tilapia, manages 400 fish ponds along the Rio Grande in the southeastern state of Sao Paulo, the country's most populous and richest.
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