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Fiji Exempts Climate, Disaster Risks Products From VAT

The Government of Fiji has granted value added tax (VAT) exemption to insurance firms for premiums on climate and disaster risk parametric insurance products for the people and corporate entities in the country. The fiscal initiative represents the first time any government in the country is making efforts to make disaster insurance more affordable for […]

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China’s Factory, Retail Sectors’ Output Dips In August

China’s factory and retail sectors slumped in August with output and sales growth hitting one-year lows as new COVID-19 variant adversely affected supply of goods and service, thereby undermining the government’s economic recovery drive. Industrial production rose 5.3 per cent in August from a year earlier, dropping marginally from an increase of 6.4 percent recorded […]

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ECB To Slash COVID-19 Support, As Eurozone Economy Rebounds

The European Central Bank (ECB) on Thursday disclosed that it was slowing down some of its massive emergency pandemic support for the Eurozone economy as business activities and consumer spending in the 19 member-countries begin gradual rebound from the COVID-19-spurred recession. The bank stated that it could conduct its bond purchase stimulus at “a moderately […]

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Bauchi To Benefit From World Bank’s Agro-Climatic Resilience Project

Bauchi State is to benefit from the World Bank’s Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project. The State Commissioner for Environment and Housing, Hon. Hamisu Muazu Shira, who gave this hint while speaking at a stakeholders’ meeting in Bauchi on Wednesday, said the state government would collaborate with all relevant stakeholders in order to successfully […]

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Oil, Power Firms’ Indebtedness To Banks Hits N5.14Trn In June

The Central Bank of Nigeria (CBN) has reported that oil and gas and power companies’ indebtedness to Nigerian banks increased from N5.94 trillion at the end of last year to N6.14 trillion by the end of June this year, representing about N1.20 trillion rise. The latest data obtained from the apex bank on the affected […]

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Weather Disasters Cost Global Community $3.64Trn Losses

The latest data from the World Meteorological Organization (WMO) have estimated that weather, climate and water related disasters drove some US$ 3.64 trillion in losses over the last 50 years, thereby laying bare the high costs of weather disasters around the globe over the decades. The WMO’s latest Atlas of Mortality and Economic Losses from […]

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Over 4Bn People Still Lack Access To Social Protection – ILO

A new report by the International Labour Organization (ILO) has revealed that despite the unprecedented worldwide expansion of social protection during the COVID-19 crisis, more than 4 billion people around the world remain entirely unprotected. This is even as the global labour organization also found that the pandemic response was uneven and insufficient, deepening the […]

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Nigeria, Others Lose $3.8Bn To Environmental Hazards Yearly – Researchers

Nigeria and other African countries are reported to be annually losing as much as $3.8 billion to erosion, pollution and other environmental and health threatening issues. A new research document just published by Nature and the International Support Network for African Development (ISNAD-Africa) in partnership with World Wildlife Fund raised concerns over the alarming rate […]

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FG To Commence 5G Technology Deployment Soon – Pantami

The Federal Government has hinted of its plans to commence the deployment of 5G technology in the country in line with emerging trends in the international climes to boost Nigeria’s telecom connectivity standards for improved services. The Minister of Communications and Digital Economy, Dr. Isa Pantami, who gave this hint when he featured on a […]

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Nigeria, 19 Others Benefitted From $2.69Bn COVID-19 Facility – World Bank

The World Bank Group has disclosed that Nigeria and 19 other countries benefitted about $2.69bn from the guarantees issued under the COVID-19 Fast Track Facility between 2020 and 2021. The Breton Woods institution made the disclosure in one of its newly published FY21 Multilateral Investment Guarantee Agency’s (MIGA’s) financial statement. It listed other beneficiaries of […]