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World Bank Revises 2023 Global GDP Forecast To 2.1%

The World Bank has raised its 2023 global growth forecast to 2.1% as many economies, especially the U.S economy continue to exhibit stronger resilience, warning, however, that higher interest rates will cause a larger-than-expected slowdown of global economies next year. The bank, in its latest ‘Global Economic Prospects’ report released on Tuesday, projected that real […]

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COVID-19 Slowing Progress On Universal Energy Access Initiative – W/Bank

….says globally 2.4bn people still cook with carbon-emission fuels The World Bank has in its just published ‘Tracking SDG 7: The Energy Progress Report, 2022’ edition indicated that the  impact of the COVID-19 pandemic remained one of the key factors slowing progress in global collective initiatives targeted at achieving universal energy access. The Bretton Woods […]

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CBN Explains How Diaspora Remittances Increase To $100Mn Weekly

The Central Bank of Nigeria (CBN) has disclosed that its foreign exchange policies, particularly the ‘Naira 4 Dollar Scheme’ have led to exponential boost in diaspora remittances into the country in the past one year. The CBN Governor, Godwin Emefiele, made this disclosure at a special press briefing at the end of the Bankers’ Committee […]

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2021: FIRS Surpasses Revenue Target, Rakes In N6.405Trn

The Federal Inland Revenue Service (FIRS) on Thursday disclosed that it achieved over a hundred percent of its collection target for the year 2021 despite the global economic challenges occasioned by the Coronavirus pandemic, as well as the 2020 disruption of business activities by nationwide protests. The Special Assistant Media & Communication to the Executive […]

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COVID-19 Response: World Bank Announces $93Bn Support For Poorer Nations

The World Bank has announced a $93 billion replenishment package of the International Development Association (IDA) to help low-income countries respond to the COVID-19 crisis and build a greener, more resilient, and inclusive future. The financial support brings together $23.5 billion of contributions from 48 high and middle-income countries with financing raised in the capital markets, repayments, and the World Bank’s own contributions. The financing package, agreed over a two-day meeting hosted virtually […]

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FIRS Chairman Elected As 15Th President Of CATA

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Muhammad Nami, was on Friday elected by the 47 member countries of the Commonwealth Association of Tax Administrators (CATA) as the association’s 15th President for a three-year tenure. A renowned tax administrator, the newly elected President of CATA brings in decades of experience in taxation […]

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IMF Cautions On COVID-19 Pandemic’s Risks To Global Economy

The International Monetary Fund (IMF) has expressed concerns that though the global economy will continue to grow until the end of 2021, rising to 5.9% by year end, but that the lingering COVID-19 pandemic still portends great risks to sustainability of the growth trajectories of the various economies. The Fund, in its latest research document, […]

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U.S Economy Nearly Ready For Less Stimulus – Clarida

The United States Federal Reserve Vice Chair, Richard Clarida, has indicated that the nation’s economy is nearly ready for the central bank to pull back on its stimulus even he projected that the high inflation may soon begin to subside. The Fed had last month signaled it would “soon” be ready to begin the process […]

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Global Quantum Computing Market’s Revenue To Hit $667.3Mn – Researcher

Research Drive, a leading provider of general data storage services for researchers and other users, has predicted that the global quantum computing market will garner a significant revenue of $667.3 million between 2020-2027 with CAGR of 30.0% in forecast timeframe. The market’s market size stood at $88.2 million in 2019. A further analysis of the […]

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Swiss Re Rebounds From COVID-19-Driven Loss, Posts $1Bn Net Income

Global reinsurance business top player, Swiss Re, has announced a net income of $1 billion for the first half of 2021, as an improved performance in its property and casualty (P&C) business, helped to offset a COVID-19 driven loss posted in its life and health (L&H) reinsurance division. According to the latest performance reports on […]