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Tito Mboweni

South Africa announces $1.6 billion bailout to keep lights on

South Africa’s Finance Minister Tito Mboweni announced Wednesday a $1.6 billion-a-year bailout for the country’s electricity utility in a bid to stave off further downgrades to Pretoria’s credit rating as he unveiled a new budget.
Indian rupee crashes to all time low of 69 against US dollar | AFP

Indian rupee hits record low amid inflation, credit downgrade

The Indian rupee on Thursday weakened past 69 to a dollar for the first time, slumping to an all-time low amid a spike in crude oil prices, foreign capital outflows and a widening current account deficit.

Standard & Poor’s declares Venezuela in partial default

Standard & Poor’s declared Venezuela in “selective default” on Monday, after it failed to make $200 million in payments on its global bonds, becoming the first credit ratings agency to do so.

Nigeria, South Africa exit recession in Q2

Nigeria and South Africa have both exited recession, notching up economic growth of 0.6 percent and 2.5 percent respectively in the second quarter, official data showed on Tuesday.

Bond investors give Tesla a $1.8 billion endorsement

Bond investors on Friday gave a $1.8 billion boost to Tesla Inc’s balance sheet by snapping up the electric car maker’s first foray into the U.S. junk bond market, where yield-hungry investors have raced to lock in relatively higher returns.

Recent Stories

The Buhari Media Organisation (BMO) has advised former Vice President Atiku Abubakar and the Peoples’ Democratic Party (PDP) presidential candidate in the Feb. 23 election to come to terms with his loss at the election.

Tribunal: Witness faults results of presidential election claimed by Atiku Ababakar, PDP

A witness invited by the petitioners before the Presidential Election Petition Tribunal (PEPT) has disagreed with the results of the last presidential election in Katsina State as claimed by the Peoples Democratic Party (PDP) and its candidate in the last presidential election, Atiku Abubakar.
Barcelona have agreed to sell left-back Marc Cucurella to Getafe just a day after they brought him back from Eibar.

Barcelona sell Marc Cucurella to Getafe just hours after re-signing him from Eibar

Barcelona have agreed to sell left-back Marc Cucurella to Getafe just a day after they brought him back from Eibar.
Nasir El-Rufai

Governor El-Rufai seeks assembly’s approval of N81.68 billion supplementary budget

The Kaduna State House of Assembly has began deliberations on the N81.68 billion supplementary budget forwarded to it by Gov. Nasiru El-Rufai.

Operation Lafiya Dole gets new commander as Naf redeploys senior officers in fresh shakeup

The Nigerian Air Force (NAF) has appointed new Branch Chiefs, redeployed two Air Officers Commanding (AOCs) and other senior officers.

Joaquin ‘El Chapo’ Guzman sentenced to life in prison

The Mexican drug kingpin Joaquin “El Chapo” Guzman has been sentenced to life behind bars in a U.S. prison, a humbling end for a drug lord once notorious for his ability to kill, bribe or tunnel his way out of trouble.