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Nigeria, Others Require $1.2Trn For Citizens’ Social Protection – ILO

The International Labour Organisation (ILO) on Thursday said that to guarantee at least basic income security and access to essential health care for all in 2020 alone, developing countries should invest approximately US$1.2 trillion, representing on average 3.8 per cent of their GDP. The global labour organization in its latest Policy brief, noted that since […]

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Asia’s Economy To Shrink, First Time Since 1960s

As the impact of the novel COVID-19 pandemic on global economic landscape continues to hamper productive activities across geo-political zones worldwide, Asia’s economy has been projected to contract with many of the countries plunging into deficit growth for the first time over six decades. This is even as the level of output next year still […]

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Merkel, Xi Jinping Parley On China-EU Investment Pact

German Chancellor Angela Merkel and Chinese President, Xi Jinping, were expected to begin talks as part of high-level talks between Beijing and the European Union that should reinvigorate stalled talks on an investment agreement. According to a high-ranking EU official, the EU wants to agree on a plan to wrap up the deal, with the […]

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France Wants EU To Push Ahead With Digital Tax Agenda

The French Finance Minister, Bruno Le Maire, on Friday expressed his country’s support for the European Union’s (EU’s) own digital tax in the first quarter of 2021 if broader efforts to find an international solution failed to translate into concrete results this year. A news report sourced from Reuters quoted the minister as saying that […]

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Australia: Crown Resorts Wins VIP Tax Reduction Suit

An Australian federal court on Friday ruled that the amount of taxes that Crown Resorts, a casino operating company, must pay when bringing in VIP gamblers on junkets had been “excessive.” Crown launched its legal challenge two years ago, disputing whether the cost of commissions and rebates it paid out for junket tours could be […]

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U.S Announces $1.2Bn Grants For Airports’ Upgrade

Determined to buoy air travels and by implication, increase aviation sector’s contributions to national Gross Domestic Product (GDP) growth as the COVID-19 pandemic impact remains huge on the economy, the United States on Friday announced that additional $1.2bn grants would be provided for airports nationwide to upgrade their facilities. The U.S Secretary of Transportation, Elaine […]

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UN identifies digital finance as key to attainment of SDGs

The United Nations today identified digital finance as key to providing relief for millions around the world, supporting businesses and protecting jobs and livelihoods in the face of unprecedented social and economic crisis caused by the COVID-19 pandemic to the world. Today a new report titled “People’s Money: Harnessing Digitalization to Finance a Sustainable Future”, […]

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CBN to sanction exporters over non-repatriation of earnings

The Central Bank of Nigeria on Tuesday threatened to sanction exporters that failed to repatriate their export earnings from their international business transactions as foreign exchange scarcity continues to undermine its efforts on Naira exchange rate stability against foreign currencies and improve the nation’s foreign reserves. The apex bank gave the hint through a directive […]

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Alibaba Raises $12.9Bn In Hong Kong’s Landmark Listing

Alibaba Group, Chinese e-commerce giant, has  raised up to $12.9 billion in a landmark listing in Hong Kong. The deal which will be seen as a boost to Hong Kong following more than five months of anti-government protests and its recent slide into its first recession in a decade, is the largest share sale in […]

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President Ouattara Tasks AfDB Governors On Right Decisions For Growth

The President of the Republic of Côte d’Ivoire, Alassane Ouattara, has charged governors of the African Development Bank (AfDB) to “make the right decision” to enable the continent achieve its development goals. President Ouattara made the remarks on Thursday at the opening session of the 5th Extraordinary Meeting of the African Development Bank Board of Governors […]