For 11 unbroken years, China retains world’s largest manufacturer position

By Wang Zheng, People’s Daily China has maintained its pole position of the world’s largest manufacturer for 11 years in a row, with its value-added industrial output increasing from 23.5 trillion yuan (about $3.63 trillion) to 31.3 trillion yuan during the past five years, said Xiao Yaqing, minister of the Ministry of Industry and Information…

March 6, 20210Comments

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Business

Criticisms of WTO

By Tejvan Pettinger The World Trade Organisation (WTO) is committed to improving free trade amongst its member countries. However, its role has been controversial – creating polarised views. These are some of the criticisms of the WTO Free Trade benefits developed countries more than developing countries. It is argued, developing countries need some trade protection to…

February 17, 2021254Comments

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Business

Twitter chief Dorsey teams up with Jay-Z to back bitcoin

Twitter chief Jack Dorsey on Friday put out the word that he and rap mogul Jay-Z are creating a fund devoted to making bitcoin digital money “the internet’s currency.” Dorsey, who is also the founder and chief of financial services and mobile payments firm Square, said in a tweet that he and Jay-Z are giving…

February 13, 20210Comments

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Business

Okonjo-Iweala: Reviving world trade from COVID-19 pandemic

By Ikenna Emewu After USA announced the endorsement of Nigerian renowned economist and former finance minister, Dr. Ngozi Okonjo-Iweala for the World Trade Organisation (WTO) top job, it is as good as done that she is director-general designate of the WTO. The coast cleared for her ascendance after her only contender and trade minister of…

February 11, 20210Comments

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Cryptocurrency Prohibition; Digital Rights Lawyers Initiative (DRLI) Sues CBN, SEC.

Following the Central Bank of Nigeria’s letter prohibiting banks from dealing in cryptocurrencies and closing down of suspected bank accounts, the Digital rights Lawyers Initiative (DRLI) has approached the Federal High Court challenging the said ban. In Suit No. FHC/L/CS/ 188/2021, DRLI sued the Central Bank of Nigeria and Securities and Exchange Commission for the…

February 10, 20210Comments

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Business

No Going Back On Cryptocurrencies, CBN Fires Back At Critics

The bank, in a statement on Sunday evening, said it is determined to protect the country’s financial system from activities of “fraudsters and speculators”. Its directive to banks to close accounts of persons or entities involved in cryptocurrency transactions has been criticised, with former vice-president, Atiku Abubakar, asking the bank to rescind the decision. Listing…

February 9, 20210Comments

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Business

Tesla Invests $1.5 Billion in Bitcoin, Plans to Accept Cryptocurrency

Tesla has disclosed in a recent SEC filing that it has bought $1.5 billion worth of bitcoin. “In January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,” reads the filing. “As part of…

February 9, 20210Comments

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Closing Cryptocurrency Accounts Can’t Stop Sunday Igboho’s Funding — Lawyer

Legal practitioner, Tommy Ojoge-Daniel, has said the recent warning issued by the Central Bank of Nigeria to financial institutions and others against doing businesses in crypto and other digital assets, cannot stop the fundraiser set up for Yoruba activist, Sunday Adeyemo (Igboho). Ojoge-Daniel, disclosed this in an interview with the PUNCH on Friday shortly after…

February 9, 20210Comments

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Mediating Money-Lending Disputes

By Commercial Intermediates Oscar Wilde said “Always borrow money from a pessimist. He won’t expect it back”. An ancient Albanian proverb says “If you lend your money, you either lose your money or gain an enemy.” Moneylending is probably as old as money. Human civilizations have been lending and borrowing since the emergence of money…

February 4, 20210Comments

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Business News

5 Things To Do Differently About Your Finances

In setting our goals or resolutions for 2019, many of us have asked ourselves this question – “What can I do differently about my finances this year?” One of the many likely answers to this “not-so-rhetorical” question is to set financial goals for the year. Setting financial goals is important when working towards achieving financial…

January 30, 20210Comments

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