The World Bank upgraded its outlook for the global economy Tuesday, estimating that it will expand 2.6% this year on the strength of sustained growth in the United States. The bank’s latest outlook marks an increase from the 2.4% growth for 2024 it had predicted in January. And it would match the global economy’s 2.6% […]
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The American economy expanded at a 1.4% annual pace from January through March, the slowest quarterly growth since spring 2022, the government said Thursday in a slight upgrade from its previous estimate. Consumer spending grew at just a 1.5% rate, down from an initial estimate of 2%, in a sign that high interest rates may […]
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THE European Union Commission said it has concluded plans to invest €150bn in trade and transport infrastructure across West Africa with a special focus on the Lagos- Abidjan corridor. According to the EU Commission, the initiative, which is part of its Global Gateway Initiative, aims to eliminate about 80 extortion checkpoints between the Benin Republic […]
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Electric vehicle sales are surging in Southeast Asia, led by China’s BYD (002594.SZ),and Vietnam’s VinFast , eating into the internal combustion engine car market dominated by Japanese and Korean firms, Counterpoint Research said on Friday.EV sales in the region more than doubled in the January to March quarter from a year before, according to the […]
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The Bank of England has signaled the possibility of reducing interest rates in August, marking the potential first cut in borrowing costs in over four years. During its recent meeting, the Bank voted to maintain interest rates at 5.25%, though the decision was closely contested. Earlier reports indicated that inflation, which measures the rate of […]
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Ferrari has said it will launch an electric car late next year, with a price tag well above average.Ferrari’s first electric car would cost at least 500,000 euros ($535,000), a source familiar with the matter told Reuters, as the luxury automaker prepares to open a plant that will make the model – and could boost […]
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South African insurer Sanlam buy a 60% stake in MultiChoice’s (MCGJ.J), opens new tab insurance business for 1.2 billion rand ($66 million) in cash upfront and a potential performance-based earn-out of up to 1.5 billion rand, the groups said on Tuesday. MultiChoice, Africa’s biggest pay-TV company, said that while its insurance business has demonstrated substantial […]
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The Nigerian Electricity Regulatory Commission (NERC) has approved an interim agreement to procure 450 megawatts of electricity from Zungeru Hydro Electricity Generation Company Limited. This decision, outlined in notice order NERC/2024/044 signed by Vice Chairman Musiliu Oseni, aims to prevent the shutdown of the newly completed Zungeru hydropower plant, which has a capacity to generate […]
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Inflation in Turkey surged to 75% in May, up from 69.8% in April, marking what economists believe will be the peak before prices begin to decline. KEY POINTS ccording to the Turkish Statistical Institute, a government agency, consumer prices rose by 75.45% annually and 3.37% monthly in May. The sectors with the steepest annual price […]
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Phillips Consulting (pcl.) has Launches the ‘Talent Management Report 2.0,’ a comprehensive guide for optimizing talent strategy in today’s competitive business environment. The report was launched at the Talent Management 2.0 Event, which brought together HR managers and industry leaders to discuss transformative talent management practices. The landmark event provided valuable insights and strategies for […]
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