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BUSINESS14h agoNigeria loses $2bn yearly to cocoa value addition gap — FGBy Cynthia Alo & Kafayat Kokumo The Federal Government (FG) has said that Nigeria loses about $2 billion annually in potential value from cocoa because the country’s processing capacity is largely underutilised. Meanwhile, the International Institute of Tropical Agriculture (IITA), has said that West Africa needs high-yielding, climate-resilient cocoa varieties to improve productivity and protect […] The post Nigeria loses $2bn yearly to cocoa value addition gap — FG appeared first on Vanguard News.Vanguard Nigeria
BUSINESS15h agoGold prices hold firm ahead of US inflation data - ReutersGold drops over 1% as hot US inflation data boosts Fed hike bets ReutersReuters World
BUSINESS15h agoIndonesia’s Bali hit by fuel crisis as huge queues form at petrol stationsMotorists have been left queuing for hours at petrol stations across Indonesia’s resort island of Bali in recent days amid reports of a crippling fuel shortage. Long queues have been spotted all around the island, including in the capital Denpasar, Badung and Tabana, according to the Bali Post. On Tuesday, Bali Governor I Wayan Koster stressed that there was enough fuel to go around, suggesting that panic buying might have caused the shortages at the pumps. “People need to be patient because the...South China Morning Post
BUSINESS15h agoChina’s exports surge 36% as AI-related shipments boomImports soar by a third as high oil prices from Middle East conflict push up energy billFinancial Times
BUSINESS15h agoCheap transport fare: FG visits 2 CNG vehicle manufacturing firms in Anambra, seeks collaboration…Auto makers hail FG’s new policy on patronageBy Vincent Ujumadu Two auto makers in Anambra State, Innoson Vehicle Manufacturing, IVM, Nnewi, and Kojo Motors Auto Assembly, Umunya, have hailed the Federal Government’s new policy that has made it mandatory for Ministries, Departments and Agencies, MDAs, to patronize locally made vehicles. Officials of the two companies, […] The post Cheap transport fare: FG visits 2 CNG vehicle manufacturing firms in Anambra, seeks collaboration appeared first on Vanguard News.Vanguard Nigeria
BUSINESS15h agoTrump announces that Taiwan will buy 30% of Alaska pipeline gas for twenty yearsTaiwan will invest 4.4 billion dollars in the Alaska LNG project, securing 30% of the gas for 20 years, according to the American president. Trump promotes Measure 2 in Alaska and supports Senator Sullivan in his re-election. He also pardons three workshop owners for violating the Clean Air Act.Clarín
BUSINESS15h agoLocal, Intl stakeholders’ hails Oyedele on fiscal reformsBy Henry Ojelu Some local and international stakeholders in the petroleum and economic sectors have commended the Federal Government’s interventions to cushion the impact of rising petrol prices, while calling for transparency and effective implementation to ensure Nigerians benefit. The commendations followed recent measures announced by the Minister of Finance and Coordinating Minister of the […] The post Local, Intl stakeholders’ hails Oyedele on fiscal reforms appeared first on Vanguard News.Vanguard Nigeria
BUSINESS16h agoTaiwan agrees to buy 30% of gas from Alaska LNG project, Trump saysU.S. President Donald Trump said Tuesday that Taiwan had agreed to buy 30% of the gas from a pipeline project in Alaska.CNBC
BUSINESS16h agoBank of America hit with $1.2bn fine for money laundering failingsThe bank inadequately flagged transactions linked to potential Chinese money laundering networks, the Treasury said.BBC World
BUSINESS16h agoSouth Korean carmaker Hyundai plans 'strategic' investment of $15.5 billion in India by 2032Korean car company Hyundai says India is a strategic core marketCNBC
BUSINESS16h agoIMF dials up calls for urgent fiscal consolidation - ReutersIMF dials up calls for urgent fiscal consolidation ReutersReuters World
BUSINESS16h agoIMF warns higher borrowing costs are straining public finances worldwideRising sovereign debt and borrowing costs have prompted a fresh warning from the International Monetary Fund (IMF) about risks to the fiscal health of member countries, with 24-year highs in US Treasury yields expected to become one of the focal topics for central bankers and finance ministers gathering in Bangkok this week. The average yield on 10-year government bonds across the Group of Seven economies increased by more than 1 percentage point between February and September this year,...South China Morning Post
BUSINESS16h agoOpenAI Employee Arrested for Allegedly Planting Hidden Recorder in Executive Conference RoomA Saudi national and employee of OpenAI has been arrested for allegedly planting a hidden recording device in an executive conference room at the company's San Francisco offices to covertly record sensitive conversations. Abdulrahman Alfozan, 35, has been charged with using or endeavoring to use an electronic, mechanical, or other device to intercept oral communications. He was arrested byThe Hacker News
BUSINESS16h agoProducer prices in China rise at fastest pace since June 2022, beating expectationsThe increase was higher than the 4.5% expected by economists polled by Reuters, and higher than the 3.8% seen in the previous month.CNBC
BUSINESS16h agoIndian airlines cancel flights to Saudi Arabian cities till Oct 17While announcing cancellation of flights to and from Riyadh, Dammam and Jeddah till October 17, Air India also said it was closely monitoring and assessing the developments in the region to resume safe operationsThe Hindu
BUSINESS16h agoDoes Hong Kong’s economy serve the people or profit?China has lifted nearly 800 million people out of extreme poverty, arguably the greatest achievement in poverty reduction in human history. Even so, no mainland Chinese economist has won the Nobel Prize in Economic Sciences. Across the Pacific, the United States has produced about 75 per cent of Nobel economics laureates, even as its economy staggers under mounting public debt, chronic fiscal deficits, and recurring financial crises and government shutdowns. Of the 99 economics laureates ever...South China Morning Post
BUSINESS17h agoChina's exports likely grew by double-digits in SeptemberThe country's customs agency released September trade data on Wednesday.CNBC
BUSINESS17h agoUS fines Bank of America $1.2bn for money laundering, sanctions violationsThe second-largest US bank faces record penalties for failing to comply with money laundering and sanctions laws.Al Jazeera [en]
BUSINESS17h agoLocal fire departments blame private equity for rising equipment costsSome departments are engaged in a class action lawsuit against apparatus manufacturers.CBS News
BUSINESS17h agoGuyana weighs scaling back LNG plans as Exxon says more gas needed for its wells - ReutersGuyana is considering reducing its Liquefied Natural Gas (LNG) plans, as Exxon indicates a greater need for gas for its wells. This highlights a potential shift in energy development strategy.Seeking Alpha Tech
BUSINESS17h agoIt's official | Workers in Texas, Florida, Nevada, Washington, Tennessee, Alaska, Wyoming, and South Dakota do not have to pay this tip taxThe deduction covers more than 70 occupations and has an annual income limit. Tips must be voluntary and given in cash, checks, or credit or debit card.Clarín
BUSINESS17h agoWhy did Hong Kong’s 11 Skies fail and can the megaproject be rescued?The roar of plane engines and the hustle and bustle at Hong Kong International Airport’s Terminal 2 present a stark contrast to the pin-drop silence at the adjacent 11 Skies commercial complex. A South China Morning Post reporter who travelled between the two places in early October found minimal footfall at the shopping centre, with the bright and airy environment of the airport terminal replaced by dim, stuffy and boarded-up corridors, and poor air conditioning amid the simmering outdoor...South China Morning Post
BUSINESS17h agoFBI arrests OpenAI employee accused of placing recording device in company conference room - AP NewsFBI arrests OpenAI employee accused of placing recording device in company conference room AP NewsAP News
BUSINESS17h agoSingapore third-quarter GDP growth softens from four-year high but beats estimatesThe GDP print beat expectations of a 5% growth from economists polled by Reuters.CNBC
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