South Korea has decided to withdraw its candidate from the World Trade Organisation (WTO) director-general race, Washington Trade Daily is reporting. Yoo Myung-hee is South Korea’s trade minister and its candidate for the top job at the WTO following the resignation of Roberto Azevedo. Ngozi Okonjo-Iweala, Nigeria’s candidate in the WTO race, had secured the […]
Bank customers will now pay a charge for failed direct debit transactions. According to the Guide to Charges by Banks, other financial and non-financial institutions published by the Central Bank of Nigeria, the charge will only apply to transactions that fail due to the account being unfunded. Customers will be required to pay either one […]
Apple has agreed to pay $113 million to settle litigation with more than 30 US states over its slowdown in the performance of older iPhones to manage battery power. The latest “batterygate” settlement will divide the settlement among California and 33 other states, according to a statement by state Attorney General Xavier Becerra. The settlement […]
The Nigerian Naira was battered further today by the US dollar and other currencies as it crashed to N478 in the unofficial market. It traded at N475 on Wednesday, as scarcity of the Greenback in the official market created pressure in the parallel market. The Naira also lost grounds with the Sterling and Euro. The […]
Prime Minister Boris Johnson says new cars and vans powered by petrol and diesel will not be sold in the UK from 2030. According to the BBC, Johnson said it is part of “a green industrial revolution” to tackle climate change and to create jobs. The 10-point plan is to accelerate the transition to electric […]
The federal government has debunked reports that Zamfara State government was buying gold from artisanal miners in the state and selling same to the Central Bank of Nigeria (CBN). A statement issued by the head, press and Public Relations, Ministry of Mines and Steel Development (MMSD), Etore Thomas, said: “Though states through their licensed corporate […]
The Kogi state government says the levy on bread in the state is not a new development. The state chapter of the Association of Master bakers and Caterers of Nigeria (AMBCN) had said it received a memo from the state’s ministry of commerce imposing a levy to be paid “on each loaf of bread”. An […]
The Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation, has increased the ex-depot price of Premium Motor Spirit, also known as petrol, to N155.17 per litre from N147.67 per litre. The PPMC disclosed this in an internal memo with reference number PPMC/C/MK/003, dated November 11, 2020, and signed by Tijjani Ali. […]
The Kogi state government has introduced a levy on every loaf of bread baked in the state. The state ministry of commerce and industry said the levy is aimed at improving the internally generated revenue. But the state chapter of the Association of Master bakers and Caterers of Nigeria (AMBCN) told TheCable on Thursday that […]
Nearly a third of South Africa’s workforce was unemployed in the third quarter of 2020, a 12-year high, as the continent’s most advanced economy was battered by the Covid pandemic, according to government figures released Thursday. Between July and September, the jobless rate surged by 7.5 percentage points to affect 30.8 percent of the workforce, […]
