Major International Business Headlines Brief ::: 25 August 2025

[Bulls n Bears]

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Major International Business Headlines Brief :::  25 August   2025 

 


 


 


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ü  Nigeria: Presidency Justifies Tinubu's Visit to Brazil, Says It's a
Strategic Move for Nation's Economic Future

ü  Nigeria: Imported Steel Products Drain Over $4bn Foreign Exchange
Annually - Minister

ü  Nigeria: Yuletide - 131% Surge in Airfares to South East, South South
Sparks Passengers' Outcry

ü  Nigeria: Tinubu's Brazil Visit Strategic, Game Changer in Economy
Diversification - Presidency

ü  Nigeria: NLC Rejects Proposed Pay Rise for Political Office Holders

ü  Nigeria: CBN Raises N8.99trn Via T-Bills As 91-Day Rate Closes At 15%

ü  Somalia: Somali PM Heads to China for 7th China-Arab States Expo to Boost
Economic Ties

ü  Africa: Japan Signs 300 Agreements With Africa At TICAD9, Marking a
Historic Partnership

ü  Nigeria: Air Peace Acquires Fourth Boeing 777 Amid Expansion, London
Route Challenges

ü  Nigeria: Despite Macroeconomic Headwinds, 15 Nigerian Companies Post
N12.7tn Revenue in H1 2025

ü  Uganda: Three Months in, Uganda Airlines London Route Hits Full Capacity

ü  Chinese property giant Evergrande delisted after spectacular fall

ü  'A loan from nan started my business - it's now made £71m'

ü  White House announces chipmaker Intel to give US government 10% stake

 


 <mailto:info at bulls.co.zw> 

 


Nigeria: Presidency Justifies Tinubu's Visit to Brazil, Says It's a
Strategic Move for Nation's Economic Future

Abuja — The Presidency yesterday justified the two-day official visit of
President Bola Tinubu to Brazil from 24 to 25 August, 2025.

 

Reacting to criticism trailing the state visit on a Television programme
(TVC's Sunday Politics) in Abuja on Sunday evening, presidential
spokesperson, Sunday Dare described the state visit as a profoundly
strategic step, aimed at deepening cooperation between Nigeria and Latin
America's largest economy and a key BRICS member.

 

According to the presidential media aide, the trip reflects Nigeria's
broader ambition to diversify and strengthen its economy beyond traditional
alliances.

 

He explained why the visit is not only timely but essential for Nigeria's
growth.

 

His words: "This is the third visit of President Tinubu to Brazil, and it is
with a justifiable cause. It reflects a renewed and focused effort to build
lasting economic integration between our countries--a journey that started
21 years ago under President Obasanjo and has gained fresh momentum under
President Tinubu."

 

Dare highlighted compelling parallels between Nigeria and Brazil, noting
their comparable population sizes--Brazil's 212 million, and Nigeria's 225
million--and Brazil's distinguished position as a global leader in
mechanised agriculture and renewable energy.

 

"Brazil has a cattle herd of 238 million, even more than its human
population. This success in agribusiness offers valuable lessons for us as
we expand our livestock industry."

 

While previous presidential visits focused on international summits such as
the G20 and BRICS, the Special Adviser clarified that this visit represents
a decisive shift from diplomacy to concrete economic and political
agreements.

 

According to him: "This third visit is a state visit, and it moves Nigeria
from being a dialogue partner to actively cutting the necessary deals that
will open up investments and strengthen cooperation. This visit is critical
to opening the economic chapter of our relationship with Brazil.

 

"It's about transforming historic and cultural ties into practical, mutually
beneficial investments that will boost Nigeria's growth and global
standing."

 

Asked about tangible outcomes from President Tinubu's frequent foreign trips
to attract foreign direct investment, Dare pointed to recent successes,
including the launch of 10,000 tractors and over 25,000 farm implements in
Abuja to support Nigerian farmers.

 

He also spoke of $5 billion worth of assets received as foreign direct
investment within two years of this administration.

 

Dare noted that while it takes time for investments to fully materialize,
"This is a government that has been in power for two years... We have seen
several MOUs activated. These MOUs are live, and I can assure you that most
activities tied to them will soon be onboarded for the benefit of our
country."

 

He added that Brazil represents one of Nigeria's brightest opportunities due
to parallels in agriculture, oil and gas, and youth development.

 

According to him: "We have similarities, both in opportunities and
potentials... This union, I believe, will yield results for our country."

 

On his part, Governor Uba Sani of Kaduna State, while also speaking on the
programme, highlighted the significant benefits expected from the visit.

 

He emphasised that discussions will cover key sectors such as agriculture,
renewable energy, skill development, aviation, and industrial investment.

 

Sani stressed that Kaduna State occupies a leadership position in
agricultural development within Nigeria, noting that agriculture contributes
about 42% of the state's GDP and employs around 60% of the workforce.

 

Sani said his administration since assuming office on May 29, 2023 increased
the agriculture budget from 0.5% to 12% to meet the Malabo Declaration
targets and praised the relationship forged between President Tinubu and
Brazil's President Lula da Silva, based on mutual respect and shared
opportunities, especially in agriculture.

 

He pointed out Brazil's dominant role in global beef exports and Kaduna's
efforts in boosting agricultural production, including the establishment of
special agro-industrial parks aimed at industrialising agriculture, creating
jobs, reducing poverty, and increasing productivity.

 

Sani also credited President Tinubu with stabilising Nigeria's economy,
restoring investor confidence by addressing a $7 billion forex backlog, and
creating reforms that open investment opportunities both for Nigerians and
international investors.

 

He expressed optimism that the visit to Brazil will result in agreements in
aviation, investment, agriculture, renewable energy, and other sectors.

 

Regarding mechanisation challenges in Kaduna's agricultural sector, despite
improved security that allows farmers to return to their fields, Sani
acknowledged past difficulties but outlined significant progress: over the
last two years, the state acquired about 400 tractors to support both large
and smallholder farmers.

 

He said Kaduna is now leading in mechanisation in Nigeria, with investments
in farm tools and support across various farming activities.

 

Recently, the government distributed over 400 bags of fertilizer to
smallholder farmers for free.

 

Sani reiterated that agriculture remains the backbone of Kaduna's economy,
and the government is committed to investing heavily to strengthen this
sector.

 

Dare and Sani further shared insights on Nigeria's growing partnership with
Brazil, especially regarding agriculture, job creation, and skills
development.

 

Dare talked about a recently signed agreement between Nigeria and Brazil
known as the Green Imperative Partnership (GIP), valued at about $1.1
billion.

 

He explained that although the agreement was initially reached six years
ago, it had remained dormant until President Tinubu revitalized it.

 

The presidential aide stressed the political will behind this renewed
effort, saying, "In two years, we have seen Nigeria's economy diversified...
The GDP has massive potentials for our country. It has the potential to
create at least 100,000 direct jobs and 5 million indirect jobs."

 

He also mentioned the potential for massive agri-mechanization through the
introduction of 10,000 tractors and 50,000 farm implements, noting Brazil's
leading role as an agricultural powerhouse with over 238 million cattle.

 

Dare further underscored the significance of upcoming agreements, including
one for direct flights between Nigeria and Brazil that will cut travel time
to around eight hours, facilitating increased tourism, investment, and
cultural exchange.

 

He said: "Where are the points in our history that we have a president who
understands the dynamics of global economic power?... President Tinubu has
started early enough looking to South-South cooperation. Looking to Brazil,
that will have so many things in common, and I think it's on the right
track.

 

Governor Sani acknowledged the need for a cultural shift in Nigeria's
livestock sector, particularly moving from nomadic herding to ranching.

 

He stated: "I agree 200% that we need to move from what we do normally or
now to what happens globally."

 

The governor explained that Kaduna State is actively engaging with Brazilian
partners, focusing on areas such as dairy and ranching to modernize
livestock farming.

 

He described security challenges linked to cattle movement, adding, "I
looked at the issue of many problems Kaduna had because of the movement of
our cows... which affects insecurity and many other factors."

 

Sani also pointed to skills development as a crucial area linked to
agricultural productivity and economic growth.

 

He further said: "On the sideline, I led my delegation to meet with Brazil's
leading skill hub and agency called Senai... for me, I feel it's very
important that we had that meeting

 

He emphasised that Kaduna is "leading in skill development as a state,"
highlighted by the recent launch of one of the most equipped institutions
for skill acquisition in Nigeria, inaugurated by President Tinubu.

 

"These areas are also signing a bilateral agreement with Brazil. We will
also advance that opportunity because when we talk about improving
productivity, you can not ignore skill development," he said.

 

The invitation from Brazilian President Luiz Inácio Lula da Silva
underscored the mutual commitment to expanding bilateral relations.

 

Significantly, Nigeria and Brazil are working towards establishing direct
air connectivity. President Tinubu's delegation, which includes key
ministers and senior officials, is expected to sign several Memoranda of
Understanding during the visit.

 

These agreements aim to foster cooperation in areas essential for Nigeria's
sustainable development and integration into Global South economies.

 

Read the original article on This Day.

 

 

 

 

Nigeria: Imported Steel Products Drain Over $4bn Foreign Exchange Annually -
Minister

ABUJA -- THE Minister of Steel Development, Prince Shuaibu Audu, weekend,
disclosed that imported steel products drained over $4 billion foreign
exchange annually.

 

He disclosed this at the 2025 engineering conference, annual general
meeting, award night, and inductions ceremony organized by the Nigerian
Society of Engineers, NSE, Bwari branch, with the themed "Building a
Sustainable Steel Industry in Nigeria: The Role of Consistent Policy and
Institutional Stability'.

 

The minister said the Federal Government had taken a significant step toward
unlocking Nigeria's economic potential by targeting $10 billion in direct
investment in the steel sector by 2030.

 

According to him, despite the challenges facing the economy, the federal
government remains committed to developing all sectors and creating job
opportunities for millions of Nigerians.

 

He stated further that the President had made notable efforts to revive the
Ajaokuta Steel Company, with a view to transforming Nigeria's mining and
steel industries, thereby boosting manufacturing and driving economic
growth.

 

He said: "Without a thriving steel industry, no modern economy can achieve
inclusive, large-scale and sustainable growth. Steel is universally
acknowledged as the backbone of industrialisation. It supports critical
sectors such as construction, energy, manufacturing, transportation and
defense.

 

"The historical challenges in developing the steel sector, the
administration of President Bola Tinubu has shown a clear resolve to address
the longstanding issues plaguing the industry, with imported steel products
draining over $4 billion in foreign exchange annually.

 

"This commitment is evident in the creation of the ministry of steel
development, designed to give focussed attention to this strategic sector,
which is expected to become the bedrock of Nigeria's industrialisation.

 

"This decision is anchored on several key objectives: Utilizing Nigeria's
abundant steel raw materials to substitute imported steel products."

 

He stressed that the Nigerian vision of a strong and self-reliant steel
sector dated back to 1958, culminating in the establishment of the Ajaokuta
Steel Company and the Delta Steel Plan.

 

However, he acknowledged that despite efforts spanning over four decades,
Nigeria's local steel production was still largely dependent on the
recycling of scrap materials, producing mostly long products by private
operators.

 

Meanwhile, the President, Nigerian Society of Engineers, Engr. Margaret
Oguntala, represented by Engr Dayyabs Tijani, commended the Bwari branch for
its vibrancy, consistency and commitment to the ideals of the society.

 

Oguntala commended the executive committee and all members of the branch for
their tireless efforts in capacity building, noting that their continuous
investment in professional development was both laudable and essential for
Nigeria's sustainable development.

 

She stated further that this year's conference theme was timely and highly
relevant, emphasising the critical role of a stable policy environment in
building a resilient steel industry.

 

The guest speaker and senior lecturer, Department of Mechanical Engineering,
Nile University, Engr Temitayo Ogedengbe, emphasised the urgent need for
more research and innovation to build a stronger steel industry in Nigeria.

 

Ogedengbe noted that Egypt leads Africa with over 10 million metric tonnes
of steel production annually, followed by South Africa, Algeria, and
Morocco.

 

According to him, Nigeria currently ranks fourth with less than 1 million
metric tonnes, just a third of Egypt's output in 2021.

 

Recent data from the World Steel Association indicated that Libya,
previously not a major player, has overtaken Nigeria, now ranking fourth in
Africa. Ogedengbe lamented the dormant state of the Ajaokuta Steel Company,
describing it as a vast landmass lying idle.

 

While calling for urgent action to operationalise the facility, he said: "If
we commit to these goals, the steel industry will thrive. A new Nigeria,
built on the strength of a robust steel sector is not just possible, it is
inevitable, if we choose to build it together."

 

Read the original article on Vanguard.

 

 

 

 

Nigeria: Yuletide - 131% Surge in Airfares to South East, South South Sparks
Passengers' Outcry

Some domestic airlines have raised ticket prices to the South-East and
South-South regions by 131 per cent ahead of the Yuletide.

 

The price adjustments, which usually take effect mostly from December 1,
come four months to the Christmas and New Year season, when airlines usually
experience higher demand.

 

Findings by Vanguard showed that Nigeria's largest airline, Air Peace, has
jacked up its one-way economy ticket from Lagos to Asaba in Delta State from
N147,000 to N337,500.

 

Lagos to Enugu and Benin in Edo State, on a one-way economy ticket, the
carrier's fare increased simultaneously from N145,000 to N335,500, while
Abuja to Benin also increased from N145,000 to N335,500.

 

For United Nigeria, a one-way economy ticket from Lagos to Enugu would
increase from N125,500 to N335,500 starting from December 11.

 

One-way economy tickets from Lagos to Owerri in Imo State and Asaba in Delta
State simultaneously rose from N125,500 to N335,500.

 

However, for Akwa Ibom State-owned airline, Ibom Air, checks by Vanguard
showed that fares are still within the same price range.'

 

Passengers speak

 

Meanwhile, some passengers who spoke to Vanguard expressed frustration,
saying that despite insecurity concerns, they might have to resort to road
transportation.

 

A frequent flyer, Mr Michael Onwusa, said: "I cannot imagine paying this
huge amount for myself, my wife and our two kids to travel to Imo. I will
ensure my car is in a good condition so I can drive for our Christmas
holiday."

 

Another traveller, Tina Ikwuogu, said: "This is huge. I have not travelled
by road to Enugu in a while, and I cannot afford to do that during the
Yuletide. Even if it means borrowing to fund my travel plans, I will do that
because I cannot afford not to reunite with my people."

 

Expert's view

 

Sharing his thoughts on the development, trustee member of Airline Operators
of Nigeria, AON, Roland Iyayi, argued that pricing of airfares was an
economic consideration, adding that nothing could be done about it.

 

Speaking to Vanguard, Iyayi said: "Anything about pricing of airfares is an
economic consideration. We look at it from the standpoint of demand and
supply. There is also a need to consider all the factors involved. For the
South-East, during a peak period, traffic is typically one way. What it
means is that the demand is usually in one direction. If an airline takes
maybe 100 passengers to that destination, it comes back with maybe about 20
passengers.'

 

"Now, because the price is in one direction, each seat has to be priced in
such a way that the yield from one direction would fairly cover the
operating costs. Any airline that does otherwise would end up making losses.
Having said that, pricing takes cognisance of the peculiarity of the time
and demand. There is nothing that can be done about it because such flights
are like a charter, and when a charter is being priced, it is for both
circles.

 

"What happens around that period (Yuletide) to scheduled airlines is similar
to the structure adopted by charter airlines."

 

Other factors

 

Recently, Vice Chairman of AON, Allen Onyema, identified reasons airfares
were not dropping, saying they include landing cost, aviation fuel, also
known as Jet-A1 and insurance.

 

Addressing newsmen at Air Peace's headquarters in Lagos, he said: "Aviation
fuel remains a major issue for airlines worldwide. A litre of fuel sells for
about N1,050 to N1,100. A Boeing 777 burns between 3,500 and 4,000 litres
per hour on the Lagos to Abuja route.

 

"When multiplied, that amounts to roughly N5 million. In addition, once an
aircraft takes off, there is an associated engine cost per landing. Every
cycle carries an engine cost, alongside the cost of insurance.

 

"There is a cost attached to everything, including the airframe, fuselage
and landing gear. If the aircraft is wet-leased, the operator pays about
$6,000 per hour."

 

Read the original article on Vanguard.

 

 

 

 

Nigeria: Tinubu's Brazil Visit Strategic, Game Changer in Economy
Diversification - Presidency

The Presidency has said that President Bola Tinubu's state visit to Brazil
is "strategic" and a broader ambition to diversify and strengthen Nigeria's
economy through global partnerships.

 

It emphasised that the visit is a potential game-changer aimed at deepening
ties with Latin America's largest economy and a major BRICS member.

 

Mr Sunday Dare, Special Adviser to the President on Media and Public
Communications, stated this in an interview with newsmen in Brasilia.

 

The News Agency of Nigeria (NAN) reports that President Tinubu is expected
to arrive in Brazil on Monday for a two-day state visit at the invitation of
President Lula da Silva.

 

Dare said that the visit has the potential to accelerate Nigeria's economic
growth through targeted engagements in key sectors of the Nigerian economy.

 

"Yes, this is the third visit of President Tinubu to Brazil, and it is with
a justifiable cause.

 

"It reflects a renewed and focused effort to build lasting economic
integration between our countries.

 

"This is a journey that started 21 years ago under President Olusegun
Obasanjo and has gained fresh momentum under President Tinubu," he said

 

Dare noted that both countries share similarities in demography, economy,
and cultural affinity, making the visit timely and important.

 

He highlighted Brazil's global leadership in mechanized agriculture,
agribusiness, and renewable energy as key areas of interest for Nigeria.

 

"Brazil has a cattle herd of 238 million, even more than its human
population.

 

"This success in agribusiness offers valuable lessons for us as we expand
our livestock industry," he said.

 

Dare noted that while previous visits centered around international summits
like G20 and BRICS, the latest "marks a shift towards concrete bilateral
agreements".

 

"This third visit is a state visit, and it moves Nigeria from being a
dialogue partner to actively cutting the necessary deals that will open up
investments and strengthen cooperation.

 

"This visit is critical to opening the economic chapter of our relationship
with Brazil.

 

"It's about transforming historic and cultural ties into practical, mutually
beneficial investments that will boost Nigeria's growth and global
standing," he stressed

 

Dare added that the visit will strengthen cooperation in aviation,
livestock, trade, and other strategic sectors.

 

NAN reports that this visit marks the second leg of President Tinubu's
two-nation tour, which began with his participation in the ninth Tokyo
International Conference on African Development (TICAD9) in Japan.

 

Vanguard News

 

Read the original article on Vanguard.

 

 

 

 

 

Nigeria: NLC Rejects Proposed Pay Rise for Political Office Holders

The Nigeria Labour Congress (NLC) has opposed the Revenue Mobilisation
Allocation and Fiscal Commission (RMAFC's) plan to raise the remuneration of
political office holders.

 

Congress warned that such a move would be unjust and could worsen inequality
in the country.

 

In a statement signed by its president, Comrade Joe Ajaero, the NLC
described the proposal as insensitive and inequitable, noting that it comes
when workers grapple with unfair wages and rising living costs.

 

Recalled that controversy over the pay hike erupted recently after RMAFC
chairman, Mohammed Usman, disclosed plans for a comprehensive upward review
of the salaries and allowances of political office holders nationwide.

 

The disclosure has already sparked public outrage, with many Nigerians
questioning the rationale for increasing politicians' earnings while the
minimum wage remains at N70,000.

 

Ajaero argued that RMAFC's justification does not address the gap between
the lavish benefits public office holders enjoy and the conditions of
ordinary workers.

 

"Making public office a sanctuary for wealth-making instead of service will
only raise the stakes for political desperation and its consequences," he
said.

 

The labour leader further accused the commission of ignoring the
socio-economic realities of millions of Nigerians, linking their plight to
the report of multi-dimensional poverty and miserable living.

 

He recalled that the last wage review for civil servants was less than 50
per cent, while that for political office holders exceeded 800 per cent.

 

The NLC also criticised the uniform salary structure for politicians across
all states, contrasting it with the varied pay structures for civil
servants.

 

According to Ajaero, this disparity reflects a system that discriminates
against workers, violating constitutional principles of equity.

 

While acknowledging the need for fair remuneration, the NLC insisted that
any review must be comprehensive and transparent.

 

The statement reads, in part, "We are outraged by RMAFC's decision to embark
on a comprehensive upward review of the remuneration packages of political
office holders.

 

The move is insensitive, unjust and inequitable. Mohammed Usman's
explanations insult our collective intelligence as they say nothing of the
humongous advantages tied to these offices, while the poor live only on
hopes and dreams."

 

"One of the most heinous crimes against humanity is the institution and
promotion of apartheid in any human setting, no matter how subtle. While we
recognise the need for good remuneration packages, they should be equitable.

 

Our demands are simple: the current earnings of all political office holders
should be made public. The benchmark for the proposed review must also be
made public. And most importantly, RMAFC should put this exercise on hold
before it triggers a tsunami," Ajaero added.

 

Read the original article on Leadership.

 

 

 

 

Nigeria: CBN Raises N8.99trn Via T-Bills As 91-Day Rate Closes At 15%

The Central Bank of Nigeria (CBN) successfully raised an estimated N8.99
trillion worth of Treasury bills (T-Bills) in seven months of 2025 amid
growing investors' appetite for naira assets and a hedge against
double-digit inflation rate.

 

The N8.99 trillion raised in seven months of 2025, represents 4.1 per cent
decline over N9.39 trillion raised in seven months of 2024.

 

T-Bills are typically issued by CBN to meet the government's short-term
financing needs and are considered a safe and low-risk investment.

 

The CBN in its "Government Securities" data, said it raised an estimated
N13.3 trillion from T-Bills in 2024, about 99.7 per cent increase over N6.66
trillion raised in 2023.

 

During the period under review, the total amount of T-bills allotted to
investors accounted for about 36.47 per cent of the total subscriptions
received at the 16 primary market auctions conducted in the seven months of
the year.

 

The CBN offered a total amount of N7.17 trillion in the period under review,
up by nearly 60 per cent from N4.48 trillion in the corresponding period of
2024.

 

According to the CBN's primary market data, out of the N24.68 trillion total
subscription, a total of N15.68 trillion worth of bids submitted were
rejected as the amount raised by the authority exceeded its target for seven
months of 2025.

 

It was learnt that the CBN reduce interest rates during its T-bills auction
in seven months of 2025 as investors push to partake.

 

For instance, stop rate on 91-day T-Bills auction in July 2025 stood at 15
per cent from 18 per cent from the first auction in January 2025, while the
182-day rate moved from 18.50 per cent in January 2025 to 15.50 per cent in
July 2025.

 

Consequently, the rate on 364-day closed July 2025 at 15.88per cent as
against 22.62 per cent January 2025.

 

The CBN has cut spot rates on T-bills at the primary market auction in a bid
to reduce its payment burden.

 

The apex bank has been scaling back on elevated discount rates offered on
the T-bills due to strong demand and the fact that the benchmark interest
rate has raced ahead of the country's headline inflation that has seen
decline in recent months.

 

By tightening its monetary policy through higher interest rates and large
NTBs auctions, the CBN aims to curb rising inflation and stabilise the
foreign exchange rate, thereby fostering a more balanced economic
environment.

 

THISDAY observed that investors demand for long maturingNTBs continued to
grow as its stop rate reached 20.32 per cent as of Feb 5, 2025, the highest
so far this year.

 

The variation in stop rates across tenors also offers insight into investor
sentiment regarding short-, medium-, and long-term economic outlooks.

 

While the lower stop rate on the 182-day bill suggests anticipation of
stable interest rates, the higher stop rate on the 364-day T-Bills could
imply a cautious stance towards potential future economic volatilities.

 

Investors' diversified demand across the different maturities of T-Bills
reflects strategic positioning for various investment horizons and signals a
healthy trading environment in the Nigerian debt market.

 

The Mr. Olayemi Cardoso-led Monetary Policy Committee (MPC) of the CBN has
jacked up the interest rate by 870 basis points to 27.50 per cent from 18.75
per cent at the start of the year to combat rising inflation, this has led
to an equal increase in the yields of T-bills compared to last year.

 

The MPR at 27.50 per cent has played its role in the downward trend in
inflation rate. Nigeria's headline inflation rate has decreased for the
fourth consecutive month to 21.88 per cent in July 2025, down from 22.22 per
cent in June 2025 and 22.97 per cent recorded in May 2025. It was 23.71 per
cent in April 2025, down from 24.23 per cent in the prior month.

 

Analysts attributes the low yield to demand and supply, stressing that the
government deliberately cutdown T-Bill interest in response to various
economic factors.

 

According to him, "The essence is to encourage foreign inflows that could
help improve dollar liquidity in the foreign exchange market and cause a
moderation in Naira exchange rate until the market attains equilibrium
level.

 

"I have no doubt that this is the most appropriate decision on the part of
CBN and the government at this time. There's a need to improve dollar
liquidity that will eventually force domestic interest rates to moderate
subsequently.

 

"The low interest rate will filter into the equity market to temporarily
moderate the bullish sentiments in that market as well. The financial system
has high liquidity, enabling the CBN to cut interest rates while maintaining
investors interest."

 

He added that by lowering interest rate on T-Bills, the CBN aims to reduce
its payment burden on government securities, especially with the benchmark
interest rate rising above headline inflation.

 

On T-Bills yield for 2025, analysts at Cordros Research in a report titled,
"Nigeria in 2025. Reform to Recovery: Navigating the Rebound," said, "Given
our expectations of a pause in monetary policy rate hikes and a moderate
pace of borrowings in 2025, we expect yields to pare, particularly towards
the second half of the year, after a further increase in Q1-2025.

 

"Specifically, we expect the onset of the disinflationary process in Q1-2025
and the pause in rate hikes, which should begin in March, to influence
market sentiments. Additionally, while we expect the demand-supply imbalance
to persist, the slower borrowing pace could cause yields to temper.

 

"Considering all the factors, we expect yields to decline and settle at
c.18.5 per cent and c.18per cent on Treasury bills and bonds by 2025
year-end, reflecting our expectations of successful policy pass-throughs."

 

Read the original article on This Day.

 

 

 

 

Somalia: Somali PM Heads to China for 7th China-Arab States Expo to Boost
Economic Ties

Mogadishu, Somalia — Somalia's Prime Minister Hamza Abdi Barre departed for
China on Saturday to attend the 7th China-Arab States Expo, set to take
place in the city of Yinchuan.

 

The high-level forum will focus on enhancing cooperation in trade,
investment, technology, and energy between China and the Arab world.

 

Somalia's participation is seen as a strategic move to deepen its economic
ties and pursue development partnerships with Beijing and Arab states.

 

According to government officials, Prime Minister Barre is expected to hold
bilateral meetings with senior Chinese officials and international business
leaders on the sidelines of the event.

 

The Somali government views the expo as an opportunity to attract foreign
investment and promote strategic collaboration in key sectors of the
economy.

 

The China-Arab States Expo has become a key platform for economic diplomacy,
providing countries like Somalia with a gateway to broader regional and
international markets.

 

Read the original article on Shabelle.

 

 

 

 

Africa: Japan Signs 300 Agreements With Africa At TICAD9, Marking a Historic
Partnership

Tokyo, - Japan and African nations have entered into a historic wave of
cooperation after signing 300 agreements during the 9th Tokyo International
Conference on African Development (TICAD9), held this week in Tokyo.

 

The deals--triple the number reached at the previous summit in Tunisia in
2022--highlight Japan's expanding commitment to Africa's economic and social
development.

 

According to Japanese and African officials, the agreements span critical
development sectors, including:

 

Infrastructure development projects aimed at boosting trade and
connectivity.

Healthcare systems strengthening, including new hospitals, medical supply
chains, and training programs.

Technology and digital innovation, with Japanese firms pledging investment
in Africa's growing tech sector.

Education, including scholarships, vocational training, and academic
partnerships.

Agriculture and food security, designed to modernize farming techniques and
ensure resilience against climate shocks.

These sectors are seen as essential for Africa's long-term growth, while
also presenting opportunities for Japanese companies to expand into emerging
markets.

 

The announcement was made on the second day of TICAD9 in Tokyo, attended by
Angolan President João Lourenço, the current Chair of the African Union
(AU), and Japan's Prime Minister Shigeru Ishida.

 

Senior officials from across Africa and Japan witnessed the signing
ceremony, which both sides described as "a landmark moment" in deepening
bilateral and multilateral ties.

 

The expansion of Japanese-African cooperation comes as global powers
intensify their engagement with Africa, a continent rich in natural
resources and home to the world's fastest-growing youth population.

 

While China has dominated Africa's infrastructure and trade landscape for
two decades, Japan has sought to distinguish its approach by emphasizing
"sustainable, transparent, and locally beneficial partnerships". Japanese
officials argue that their model focuses not just on economic growth but
also on long-term stability, democratic governance, and human security.

 

Prime Minister Shigeru Ishida stressed Japan's commitment, stating that
Africa's role in the global economy is "growing rapidly and cannot be
ignored."

 

The TICAD process was launched in 1993 as a platform for Japan and African
leaders to discuss development priorities. Unlike other forums, TICAD is
co-organized with the United Nations, the World Bank, and the African Union,
giving it a multilateral character.

 

Over the past three decades, TICAD has helped mobilize billions of dollars
in aid and investment for African nations, while also creating avenues for
political dialogue on peace, governance, and trade.

 

At TICAD8 in Tunisia (2022), only about 100 agreements were signed. The
tripling of commitments in Tokyo this year reflects a new urgency to
accelerate cooperation amid mounting global competition for Africa's markets
and resources.

 

African leaders see TICAD9 as a chance to diversify their partnerships
beyond traditional allies. The deals signed are expected to bring Japanese
expertise in high-quality infrastructure, advanced technology, and disaster
resilience--areas where Japan has a global reputation.

 

In addition, African states are positioning themselves as equal partners.
President João Lourenço emphasized that Africa is not just a recipient of
aid but a "strategic player in shaping the future global economy."

 

Implementation of the 300 agreements will be closely monitored by joint
Japan-Africa committees, with progress reports expected at the next TICAD
summit. Japanese companies are set to increase their presence in African
capitals, while African delegations are preparing for follow-up trade and
investment missions to Tokyo.

 

Analysts say Japan's strengthened engagement could help balance Africa's
global partnerships, offering alternatives to Chinese and Western models of
development. At the same time, it enhances Tokyo's global profile as it
seeks to play a larger role in international diplomacy and economic affairs.

 

For Africa's 1.4 billion people--half of whom are under 25--the promise of
new investments in education, healthcare, and infrastructure could have
transformative effects in the decades ahead.

 

Read the original article on Radio Dalsan.

 

 

 

 

 

Nigeria: Air Peace Acquires Fourth Boeing 777 Amid Expansion, London Route
Challenges

"This milestone strengthens our expansion plans as we prepare to connect
Nigeria to more global destinations, including London, Europe, South
America, and the Caribbean" -- Air Peace spokesperson.

 

Nigeria's largest carrier, Air Peace, has expanded its widebody fleet with
the arrival of a fourth Boeing 777-200ER, as it doubles down on
international ambitions and seeks to consolidate its grip on the fiercely
competitive Lagos-London route.

 

The aircraft, registered 5N-CEG, landed at Lagos' Murtala Muhammed
International Airport on Friday, 22 August, from Teruel, Spain. It was
greeted with a water-cannon salute and a reception led by Air Peace Chairman
Allen Onyema, his executive team, and aviation officials.

 

"This milestone strengthens our expansion plans as we prepare to connect
Nigeria to more global destinations, including London, Europe, South
America, and the Caribbean," the airline said in a statement.

 

Configured with 312 seats--26 in Business Class and 286 in Economy--the new
aircraft will join the fleet within two months, with Mr Onyema confirming
its deployment on long-haul flights from Abuja to London's Heathrow and
Gatwick airports.

 

Past Acquisition Controversies

 

The new acquisition comes against the backdrop of past scandals tied to Air
Peace's plane purchases. In 2019, Mr Onyema was indicted by the US
Department of Justice on charges of money laundering and bank fraud, accused
of using falsified documents to move millions of dollars intended for
aircraft acquisitions. In October 2024, prosecutors added obstruction of
justice charges, alleging he attempted to mislead investigators with
backdated contracts.

 

Though Mr Onyema has consistently denied wrongdoing and continues to operate
freely in Nigeria, the unresolved cases cast a shadow over the airline's
aggressive expansion. Aviation regulators have also previously criticised
Air Peace for failing to properly report incidents involving its aircraft,
raising safety oversight concerns.

 

London Route

 

Air Peace is currently the only Nigerian airline operating direct flights to
London, a route it launched in March 2024. Within its first year, the
carrier said it transported over 136,000 passengers across 662 flights,
contributing an estimated $150 million to Nigeria's GDP and creating 1,200
jobs. Its entry triggered a price war, forcing long-established rivals like
British Airways and Virgin Atlantic to slash fares, with ticket prices on
the route reportedly falling by as much as 40 per cent.

 

But success has not come without hurdles.

 

The airline has faced slot restrictions, being limited to Gatwick instead of
Heathrow, and has accused UK authorities of using "aeropolitics" to
frustrate Nigerian carriers. Industry watchers warn that Air Peace risks
repeating the fate of defunct airlines such as Arik Air and Med-View, which
collapsed under the weight of high operating costs, governance issues, and
intense foreign competition after briefly operating London services.

 

Beyond London

 

Even as it navigates the London battlefront, Air Peace is pressing ahead
with expansion into South America and the Caribbean, with plans for direct
flights to São Paulo, Antigua, and St. Kitts and Nevis.

 

Mr Onyema argues that the strategy is part of a broader mission to make
international travel more affordable for Nigerians and to establish Nigeria
as a regional aviation hub.

 

He praised President Bola Tinubu's administration for policies that support
indigenous airlines and commended Minister of Aviation and Aerospace
Development Festus Keyamo for pursuing strategies that, he said, allow
Nigerian carriers to compete more fairly against foreign giants.

 

With the new Boeing 777, Air Peace is positioning itself as more than just a
regional player.

 

But as history shows, the challenges of sustaining long-haul operations from
financial pressures to geopolitics may ultimately determine whether
Nigeria's flag-carrier ambitions take flight or falter.

 

Read the original article on Premium Times.

 

 

 

 

 

Nigeria: Despite Macroeconomic Headwinds, 15 Nigerian Companies Post N12.7tn
Revenue in H1 2025

Despite grappling with macroeconomic headwinds, Nigeria's biggest companies
have remained resilient, with 15 of them, including Dangote Cement, MTN
Nigeria, and Seplat Energy, generating a combined revenue of N12.7 trillion
in the first half (H1) of 2025.

 

According to their unaudited financial results for the six months ended June
30, the figure represents a 44.3 per cent increase from the N8.82 trillion
earned in the same period of 2024.

 

The companies cut across critical sectors--cement production, oil and gas,
power generation, fast-moving consumer goods (FMCG), and telecommunications,
underscoring the broad base of Nigeria's private sector resilience.

 

The performance comes at a time when Nigeria's economy was inching toward
stability.

 

Headline inflation eased to 22.22 per cent in June 2025, due largely to the
Central Bank of Nigeria's (CBN) monetary tightening.

 

Though foreign exchange volatility persisted, recent trends signal tentative
market confidence.

 

A slight uptick in oil production also boosted fiscal revenues and foreign
reserves through higher inflows and more disciplined forex management.

 

At the top of the table is MTN Nigeria Communications Plc, which posted a
staggering N2.38 trillion in revenue, up 54.5 per cent from N1.54 trillion
in the same period last year.

 

Close behind is Seplat Energy Plc, which posted N2.17 trillion, a
jaw-dropping 277 per cent increase over N575.05 billion posted in H1 2024.

 

Dangote Cement Plc rounded off the top three, reporting N2.07 trillion, or
18 per cent growth from the N1.76 trillion posted in H1 2024.

 

However, Oando Plc was the only company among the group that recorded a
decline, with its revenue slipping 15.3 per cent to N1.72 trillion from the
N2.03 trillion posted in the same period last year.

 

Meanwhile, Nigerian Breweries Plc delivered an impressive performance with
N738.14 billion in revenue, up 54 per cent from the N479.77 billion last
year.

 

BUA Cement Plc also posted N580.3 billion, a nearly 60 per cent increase
from the N363.9 billion in 2024.

 

Analysts say the numbers reflect resilience in the face of daunting
challenges, though rising costs remain a concern.

 

"Companies in Nigeria have shown remarkable resilience amid economic
difficulties. The relative stability we are beginning to see has had a
positive impact on revenue generation," said an investment banker and
stockbroker, Tajudeen Olayinka.

 

For the Managing Director of HighCap Securities Limited, David Adonri, the
mixed results were not surprising. "Nigeria's economy is still reverberating
from CBN's foreign exchange reforms and contending with inflationary
pressures, insecurity, and other challenges. These continue to produce
varied outcomes across different sectors," he noted.

 

Chief Operating Officer of InvestData Consulting, Ambrose Omordion, added
that policy shifts under President Bola Tinubu have been especially tough on
manufacturers.

 

"The reforms initially dragged companies into losses, but we are now seeing
signs of recovery as business activity improves and global crude oil prices
rise. While 2025 looks promising for listed companies, operating expenditure
will keep climbing due to the high cost of doing business," he explained.

 

Read the original article on This Day.

 

 

 

 

Uganda: Three Months in, Uganda Airlines London Route Hits Full Capacity

Uganda Airlines has announced that it has been able to hit full capacity,
just three months into the Entebbe-London route.

 

CEO, Jenifer Bamuturaki journalists said the feat is something to toast to.

 

"We have carried full flights to a point that even the airport operator
where we land is asking. Can you tell us why this is happening? Because it's
too soon for an airline to start and already have full flights. Not one, not
two, but daily in the season that we are in," Bamuturaki said.

 

On May, 18, 2025, Uganda Airlines launched direct flights to London's
Gatwick Airport to open a new chapter for the national carrier.

 

The four-times-weekly Entebbe-London service, operated by the Airbus
A330-800neo, marked Uganda's first direct link to Europe in nearly a decade.

 

Speaking about the route, Uganda Airlines CEO, Bamuturaki said the route has
grown by leaps and bounds.

 

"We have seen London grow our cashflow because we have seen the booking
window being wider. We have routes where we have people booking on the same
day, but London, we have people booking earlier in advance. Again, that
means we have cash flow coming into the airline. It improves our liquidity
picture," Bamuturaki said.

 

She said the growth has not been recorded only in passengers but also in
terms of cargo.

 

"We've seen cargo grow from a few kilograms on first flight to a full cargo
load from Entebbe. From London, it was just a few kilograms but we have seen
that increase. In the last week or so, we've carried full cargo out of
London."

 

The Uganda Airlines CEO attributed this rapid growth to the London route to
number of factors but mostly, direct linkage between the two destinations.

 

"I attribute it to many things but first of all, we have cut journey time by
offering a direct service where you don't have to go through an intermediary
point. I also attribute it to the perks we are giving. Out of London, they
are three bags , which was a promotion for people to taste our product and
be able to fly with us,"Bamuturaki said.

 

"You have seen a lot of social media conversations from Uganda who have
flown back home( on Uganda Airlines). London has therefore helped open us to
the world as a lot of people didn't know Uganda Airlines was flying that
far. So we can now be able to bring tourists into the country."

 

According to Bamuturaki, the future is bright for Uganda Airlines.

 

Read the original article on Nile Post.

 

 

 

 

 

 

Chinese property giant Evergrande delisted after spectacular fall

Chinese property giant Evergrande's shares were taken off the Hong Kong
stock market on Monday after more than a decade and a half of trading.

 

It marks a grim milestone for what was once China's biggest real estate
firm, with a stock market valuation of more than $50bn (£37.1bn). That was
before its spectacular collapse under the weight of the huge debts that had
powered its meteoric rise.

 

Experts say the delisting was both inevitable and final.

 

"Once delisted, there is no coming back," says Dan Wang, China director at
political risk consultancy Eurasia Group.

 

Evergrande is now best-known for its part in a crisis that has for years
dragged on the world's second-largest economy.

 

 

What happened to Evergrande?

Just a few years ago Evergrande Group was a shining example of China's
economic miracle.

 

Its founder and chairman Hui Ka Yan rose from humble beginnings in rural
China to top the Forbes list of Asia's wealthiest people in 2017.

 

His fortune has since plummeted from an estimated $45bn in 2017 to less than
a billion, his fall from grace as extraordinary as his company's.

 

In March 2024, Mr Hui was fined $6.5m and banned from China's capital market
for life for his company overstating its revenue by $78bn.

 

Liquidators are also exploring whether they can recover cash for creditors
from Mr Hui's personal property.

 

At the time of its collapse, Evergrande had some 1,300 projects under
development in 280 cities across China.

 

The sprawling empire also included an electric carmaker and China's most
successful football team, Guangzhou FC, which was kicked out of the football
league earlier this year after failing to pay off enough of its debts.

 

AFP via Getty Images Gold and pink confetti rains down as head coach Fabio
Cannavaro of Guangzhou Evergrande and his players celebrate winning the 2019
Chinese Super League title on 1 December, 2019 in Guangzhou, Guangdong
Province of China. AFP via Getty Images

Evergrande owned China's most successful football club

 

Evergrande was built on $300bn (£222bn) of borrowed money, earning it the
unenviable title of the world's most indebted property developer.

 

The rot set in after Beijing brought in new rules in 2020 to control the
amount big developers could borrow.

 

The new measures led Evergrande to offer its properties at major discounts
to ensure money was coming in to keep the business afloat.

 

Struggling to meet interest payments, the firm soon defaulted on some of its
overseas debts.

 

After years of legal wrangling, the Hong Kong High Court ordered the company
to be wound up in January 2024.

 

Evergrande's shares had been under threat of delisting ever since because
they were suspended from trading after the court order.

 

By that point the crisis engulfing the firm had wiped more than 99% from its
stock market valuation.

 

The liquidation order came after the company was unable to offer a workable
plan to shed billions of dollars of overseas liabilities.

 

Earlier this month, liquidators revealed that Evergrande's debts currently
stand at $45bn and that it had so far sold just $255m of assets. They also
said they believe a complete overhaul of the business "will prove out of
reach".

 

The "delisting now is surely symbolic but it's such a milestone," Ms Wang
says.

 

All that remains is which creditors are paid and how much they can get in
the bankruptcy process, says Professor Shitong Qiao from Duke University.

 

The next liquidation hearing is due to take place in September.

 

How was China's economy impacted?

China is facing a number of major problems, including US President Donald
Trump's tariffs, high local government debt, weak consumer spending,
unemployment and an ageing population.

 

But experts say Evergrande's collapse, along with the serious problems faced
by other developers, has hit the country hardest.

 

"The property slump has been the biggest drag on the economy, and the
ultimate reason why consumption is suppressed," Ms Wang says.

 

Evergrande chairman Hui Ka Yan was once Asia's wealthiest person

This is particularly problematic as the industry accounted for about a third
of the Chinese economy and was a major source of income for local
governments.

 

"I don't think China has found a viable alternative to support its economy
at a similar scale," Professor Qiao says.

 

The property crisis has led to "massive layoffs" by heavily-indebted
developers, Jackson Chan from financial markets research platform
Bondsupermart says.

 

And many real estate industry employees that kept their jobs have seen big
pay cuts, he adds.

 

The crisis is also having a major impact on many households as they tend to
put their savings into property.

 

With housing prices dropping by at least 30%, many Chinese families have
seen their savings fall in value, says Alicia Garcia-Herrero, chief
economist for Asia Pacific at French bank Natixis.

 

This means they are less likely to spend and invest, she adds.

 

In response, Beijing has announced a raft of initiatives aimed at reviving
the housing market, stimulating consumer spending and boosting the wider
economy.

 

They range from measures to help new home owners and support the stock
market to incentives to buy electric cars and household goods.

 

Despite the hundreds of billions of dollars Beijing has poured into the
economy, China's once-blistering growth has eased to "around 5%".

 

While most Western countries would be more than happy with that, it's slow
for a country that saw growth of more than 10% a year as recently as 2010.

 

 

Is the property crisis over yet?

In short, probably not.

 

Even as Evergrande continues to grab headlines, several other Chinese
property firms are still facing major challenges.

 

Earlier this month, China South City Holdings was handed a winding up order
by Hong Kong's High Court, making it the biggest developer to be forced into
liquidation since Evergrande.

 

Meanwhile, rival real estate giant Country Garden is still trying to secure
a deal with its creditors to write off more than $14bn of outstanding
foreign debt.

 

After a series of postponements, its next High Court liquidation hearing in
Hong Kong is due to take place in January 2026.

 

"The whole property sector has been in trouble. More Chinese property firms
will collapse," Professor Qiao says.

 

AFP via Getty Images People wearing coats and hats walk past an Evergrande
Group residential complex called Evergrande Palace in Beijing on 30 January,
2024 on a misty overcast day.AFP via Getty Images

Experts say the removal of Evergrande's shares from the Hong Kong stock
market was inevitable

While the Chinese government has taken a number of measures to help shore up
the property market and support the economy as a whole it has not swooped in
to directly bail out developers.

 

Mr Chan says these initiatives seem to be having a positive impact on the
property market: "We think the bottom [has been reached] and it should be in
a slow recovery. However, we probably don't expect the recovery to be very
strong."

 

Wall Street investment giant Goldman Sachs warned in June that property
prices in China will continue to fall until 2027.

 

Ms Wang agrees, and estimates that China's stricken property market will
"hit the bottom" in around two years when demand finally catches up with
supply.

 

But Ms Garcia-Herrero puts it in starker terms: "there is no real light at
the end of the tunnel."

 

Beijing has sent a "clear message on its intention of not bailing out the
housing sector," Ms Wang adds.

 

The Chinese government has been careful to avoid the kind of measures that
could encourage further risky behaviour by an already heavily indebted
industry.

 

And while in the boom times, the property market was a key driver of China's
economic growth, the ruling Communist Party's priorities now lie elsewhere.

 

President Xi Jinping is more focussed on high-tech industries like renewable
energy, electric cars and robotics.

 

As Ms Wang puts it, "China is in a deep transition to a new age of
development."-bbc

 

 

 

 

'A loan from nan started my business - it's now made £71m'

When Paige Louise Williams borrowed £20,000 from her nana to open her own
beauty salon, she had high hopes albeit no business plan.

 

She left school with no qualifications and had recently quit her job on the
MAC beauty counter to become a freelance make-up artist.

 

Fast forward 10 years and her beauty empire P.Louise has evolved into a
household brand loved by millions around the world with a projected revenue
of £138m this year.

 

"I hope that anyone that steps into my world realises that anything is
possible," said the 32-year-old entrepreneur, who grew up on a council
estate in Droylsden in the Tameside area of Greater Manchester.

 

 

"Your background doesn't define who you are."

 

Paige started working in the beauty industry after dropping out of college
where she was studying to become a children's social worker.

 

Inspired by drag make-up, Paige built up a signature style of beauty that
attracted a loyal and growing customer base.

 

It was at this time that she asked her nana, who was working as a part-time
cleaner, for a loan to open her own salon in Prestwich.

 

Thankfully for Paige, her nana agreed - invested in every sense of the word
in her granddaughter's determination to succeed.

 

Paige had high hopes for the opening of P. Louise Makeup Academy in 2014 –
but it did not quite turn out as she had expected.

 

"We served Lambrini in our little flutes but we only really had regulars
turn up," she said. "I'd expected this huge bang and it didn't work."

 

With the business struggling, Paige was forced to sell her car - but she
refused to be beaten.

 

"I turned up every day, I knew I had rent to pay and I had my nana that
couldn't lose this funding that she'd given me," she said.

 

"There was no way she was losing her house on the back of me following my
dream."

 

P.Louise Paige wears an all black outfit, has long wanded blonde hair and is
stood in front of a P.Louise model carriage with her arms folded.P.Louise

Paige dropped out of college before deciding to move into the beauty
industry

 

Paige's early years had also been spent helping with her younger brothers
while her mother worked to make ends meet.

 

This fuelled her drive and ambition further.

 

"I think my upbringing taught me that if you really put your mind to
anything, that anything is possible," she said.

 

"My mum had me at 15 years old and she showed me time and time again that
she was doubted, she was never going to amount to nothing.

 

"She wanted to be a nurse. She got her degree and she showed me that with
five children I can still be whoever I want to be."

 

In order to keep the business going, Paige started offering make-up classes
in the salon before hosting online courses for oversees clients.

 

"Live streaming was unheard of 10 years ago," she said. "We was live
streaming to thousands of people.

 

"I used to only charge £10 for these courses but we were doing them in mass
and we had hashtags like #beansforlife because all of us was on the bread
line.

 

"I still see hashtag #beansforlife in my comments."

 

Her next business move was product development.

 

Paige had noticed there was a gap in the market after a product she loved
was discontinued.

 

Her creation, now known as Rumour Base, was ranked number one eyeshadow base
in the market by NikkieTutorials on YouTube – this was a turning point for
the business.

 

Tiktok help

TikTok also played an instrumental role in her company's growth.

 

"It was a random thought one day that I decided I wanted to do a TikTok
shop," she said.

 

"I didn't realise it would be such a sensation which helped me fund what we
have today.

 

"We started selling product off the hook and couldn't keep anything in
stock."

 

Paige broke the UK record for the most revenue generated on TikTok Shop by a
UK brand after earning more than £1.5m in just 12 hours in August 2024.

 

As her cosmetics line grew, the brand moved into an 8,000sq ft warehouse in
Middleton. It has since relocated to a 36,000sq ft warehouse in Stockport,
where it now has a store and a tourist-attraction cafe.

 

During the last financial year, Paige's P.Louise brand made £71m.

 

In October, Paige will open her first retail store in the Trafford Palazzo
in the Trafford Centre.

 

"I've got a lot of people who work for me who have never felt anywhere where
they can truly be themselves, where it's acceptable to come in in a tutu and
wear fairy wings and be totally yourself," she said.

 

"I know I'm not everyone's cup of tea but I still show up every single day
for my dreams and what I believe."-bbc

 

 

 

 

White House announces chipmaker Intel to give US government 10% stake

US Secretary of Commerce Howard Lutnick said on Friday that the federal
government will take a 10% stake in US chipmaker Intel.

 

"This historic agreement strengthens US leadership in semiconductors, which
will both grow our economy and help secure America's technological edge,"
Lutnick wrote on X in a post accompanied by a photo of himself with Intel
CEO Lip-Bu Tan.

 

President Donald Trump revealed the deal earlier on Friday during remarks in
the Oval Office, calling it a "great deal for them".

 

Shares of the Santa Clara, California-based chipmaker soared more than 5% on
Friday.

 

Intel said in a statement that the US government would make a $8.9bn
(£6.6bn) investment in Intel common stock.

 

 

The funds were set to come from grants that were previously awarded but not
yet paid, Intel said, including monies promised under the US CHIPS and
Science Act which was passed during President Joe Biden's administration.

 

"As the only semiconductor company that does leading-edge logic R&D and
manufacturing in the US, Intel is deeply committed to ensuring the world's
most advanced technologies are American made," Mr Tan said in a statement.

 

"President Trump's focus on US chip manufacturing is driving historic
investments in a vital industry that is integral to the country's economic
and national security," he added.

 

The CHIPS Act was passed with the aim of reshoring chip manufacturing in the
United States.

 

Intel has struggled in recent years to build out more chip capacity and has
fallen far behind rival Nvidia whose market cap has soared past the $4tn
mark while Intel's has languished around $100bn.

 

The one-time Silicon Valley icon has failed to capitalise on the development
of mobile technology and, more recently, artificial intelligence which
Nvidia has dominated.

 

Under attack

Intel had found itself in US President Donald Trump's crosshairs in recent
weeks.

 

Earlier this month, Trump called on Mr Tan to immediately resign, accusing
him of having problematic ties to China.

 

Trump called Mr Tan "highly conflicted" for alleged investments in companies
which the US says are linked to the Chinese military.

 

Mr Tan referred to the accusations as "misinformation" in a note sent to
Intel staff, in which he defended himself and said he had "always operated
within the highest legal and ethical standards."

 

Mr Tan is a US citizen born in Malaysia and raised in Singapore.

 

It is legal for Americans to invest in Chinese firms.

 

Trump's attack came after Republican Senator Tom Cotton delivered a letter
to Intel's board raising similar concerns and questioning the company's
ability to be a "responsible steward of American taxpayer dollars and to
comply with applicable security regulations".

 

Mr Tan visited the White House to meet with Trump after the president's
attacks.

 

 

A 'creative idea'

Friday's announcement comes after White House Press Secretary Karoline
Leavitt called the proposal "a creative idea that's never been done before"
earlier in the week.

 

The Trump administration recently ordered Nvidia and AMD to give the
government a 15% cut of the revenue from AI chip sales to China, according
to reports.

 

While the approach is considered unusual, Jacob Feldgoise, a Senior Data
Research Analyst at Georgetown University's Center for Security and Emerging
Technology, drew parallels between the equity stake and the previous
approach of giving Intel grant funding.

 

"It's still in service of the same overall objective which is taking a more
direct role in private markets to advance US economic and national security
objectives, particularly around maintaining technological leadership – or
really regaining it – when it comes to semiconductor manufacturing," Mr
Feldgoise told the BBC.

 

The deal is considered rare in the modern era, but not without precedent.

 

During the Great Financial Crisis in 2008, the US government took a majority
stake in automaker General Motors which was poised to enter into bankruptcy
protection.

 

It eventually exited its position, incurring a loss of about $10bn.

 

Mr Feldgoise said the Trump administration took a similar approach earlier
this year in a deal with MP Materials, a Nevada-based company that mines
rare earth metals.

 

That agreement has come under scrutiny from public-interest watchdog groups
amid revelations that the Department of Defense depended on a Cold War-era
law to circumvent procurement and contracting laws.-bbc

 

 

 

 

 

 

 

 

 


 


 


 Invest Wisely!

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INVESTORS DIARY 2025

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


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report shall be solely responsible for making their own independent
investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and d from third parties.

 


 

 


 (c) 2025 Web:  <http://www.bullszimbabwe.com> www.bullszimbabwe.com Email:
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