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Oil prices slide as economic outlook darkens, US supply surges

Oil prices dropped on Friday as clouds gathered over the global economy after the European Central Bank (ECB) warned overnight of continued weakness and fresh data showed Chinese exports and imports slumped last month.
China's President Xi Jinping (R) meets former US secretary of state Henry Kissinger at the Great Hall of the People in Beijing on November 8, 2018. (Photo by THOMAS PETER - POOL - AFP)

China’s exports hold up despite US tariffs

China's exports to the United States and the rest of the world saw a surprise jump in October, data showed Thursday, suggesting businesses are ramping up trans-Pacific shipments before higher tariffs kick in.
(FILES) This file photo taken on February 9, 2017 shows Chinese 100 yuan notes in Beijing. The Chinese currency continued its sharp decline on July 20, 2018 despite US President Donald Trump's bid to rein in the dollar, as analysts pointed out that a weaker yuan aids Beijing in its trade tussle with Washington. / AFP PHOTO / FRED DUFOUR

China’s economic growth hits nine-year low

China's economic growth has slowed down to 6.5 percent in the third quarter - the slowest quaterly growth since 2009 - as a campaign to tackle mounting debt, and trade frictions with the US take their toll.
The two countries imposed new tariffs on a massive amount of each other's goods mid-September [Greg Baker-AP]

China’s trade surplus with US widens to record $34 billion

Despite a worsening tariff war, China's trade surplus with the United States has widened to a record $34.1bn in September.
Chinese Factory

China manufacturing activity slows as trade war rages

Chinese factory activity slowed in September, official data showed Sunday, as the Asian giant’s trade war with the United States showed no sign of abating.

Oil races toward $100 as stocks inch off three-week lows

Fresh sparring between Washington and Beijing over trade kept world stocks close to three-week lows on Wednesday, while a slight dollar pullback gave little respite to emerging markets, Indian rupee plumbed new record lows.

Oil prices higher as US sanctions limit Iran exports

Oil prices rose on Monday, supported by concerns that falling Iranian output will tighten markets once U.S. sanctions bite from November.

NBS: Nigeria recorded N5.1 billion trade deficit in 2017

Exports of goods and services in real terms grew strongly in the second and third quarters of 2017, following the first quarter’s 17.24 per cent year-on-year decrease while the annual growth rate of real exports was recorded 8.74 per cent, slightly less than 11.53 per cent recorded last year.

Investors urged to patronise free trade zones

The Managing Director, Nigeria Export Processing Zone Authority (NEPZA), Mr Emmanuel Jime, has urged investors to take advantage of incentives offered at the free trade zones by the federal government and reduce their operating costs.

Recent Stories

Jigawa government releases N192m for improvement of Dutse water supply

The Managing Director of Jigawa Water Board, Zayyan Rabiu, on Monday said that the state government has released N192 million for the improvement of water supply in Dutse metropolis.
national assembly abuja

SERAP fumes over ‘repressive’ National Assembly media accreditation guidelines

Socio-Economic Rights and Accountability Project (SERAP) has urged the “leadership and management of the National Assembly to immediately withdraw the repressive media accreditation guidelines or face legal action.”
David Samson Unuanel

Ex-Enyimba coach drags club over alleged N3.45 million debt

Former Coach of Enyimba International F.C., Samson Unuanel, on Tuesday dragged the club before the National Industrial Court, Abuja, over alleged unpaid N3.450 million, being the balance of his sign-on-fee
A pedestrian walks past a Huawei product stand at an EE telecommunications shop in central London on April 29, 2019. – British Foreign Secretary Jeremy Hunt has urged caution over the role of China’s Huawei in the UK, saying the government should think carefully before opening its doors to the technology giant to develop next-generation 5G mobile networks. His comments come after Prime Minister Theresa May conditionally allowed China’s Huawei to build the UK 5G network, information that was leaked to a newspaper from top secret discussions between senior ministers and security officials, a leak that has caused a scandal that has rocked Britain’s splintered government. (Photo by Tolga Akmen / various sources / AFP)

Huawei accuses US of bullying

Chinese telecoms equipment maker Huawei called itself the victim of U.S. “bullying” on Tuesday and said it was working with Google to counter trade restrictions imposed by Washington last week, a senior Huawei executive said.

Man docked for cultism, possession of firearm

The Police in Lagos on Tuesday docked a man, Toheeb Olapade, 26, at an Ogudu Magistrates’ Court, with charges of unlawful possession of a firearm and being a member of a secret cult.