Author: Ogochukwu Ndubuisi

A one-hour yen spikes just exposed how fragile global markets have become, warns the CEO of global financial advisory deVere Group.

Canada’s Immigration Cut Exposes Economic Cracks Canada’s immigration policy, once seen as a model for economic growth, has become a flashpoint for economic anger as the country confronts a sharp slowdown, a housing affordability crisis and a generational shift in public opinion. For years, Ottawa pushed historically high intake to drive growth. Population surged 2.4 percent in 2022, 3.1 percent in 2023 and 2.21 percent in 2024, driven by permanent and temporary residents – well above the roughly one percent annual growth before the pandemic. Top-line GDP looked strong in 2023 and 2024, but per-capita GDP was falling and unemployment…

Egypt Welcomes President Xi Jinping to Cairo as Ties Deepen Egyptian President Abdel Fattah el-Sisi welcomed Chinese President Xi Jinping to Cairo on Wednesday for a state visit aimed at strengthening the comprehensive strategic partnership between the two countries. Xi arrived at Cairo International Airport on Tuesday, September 1, where he was received by President el-Sisi and First Lady Entissar el-Sisi alongside his wife, Peng Liyuan. According to Egypt Today, the airport reception was marked by warmth, with children and youth carrying Egyptian and Chinese flags participating in the ceremony. On Wednesday, September 2, an official military ceremony was held…

Uber to Exit Nigeria After 12 Years of Operation Uber has announced it will exit Nigeria after 12 years, ending its operations in Africa’s most populous country effective September 2, 2026, and exposing the brutal economics facing ride-hailing platforms. The company disclosed the decision in a notice to customers on Wednesday, saying it took the tough decision to wind down its Nigerian business after a thorough review of operations. “After a thorough review of our business, we have made the tough decision to wind down our operations in Nigeria, effective 2 September 2026,” Uber said in the message to users.…

Global Warming Set to Breach 1.5°C Threshold, UNEP Warns The UN Environment Programme (UNEP) has warned that global temperatures are likely to cross the critical 1.5°C warming threshold within the next few years, exposing the world to intensifying climate risks. UNEP, in a new report titled “Limiting Overshoot”, said the world could still return to below 1.5°C, but only if countries rapidly cut greenhouse gas emissions, strengthen adaptation and achieve net-negative emissions. In a report released on Wednesday, UNEP said an “overshoot, peak and decline” pathway is the best option to limit both the extent and duration of temperatures exceeding…

Ethiopia Increases Electricity Exports by 25% Ethiopia earned US$475.7 million from electricity exports during the financial year. This is 25 per cent more than in the same period last year. This was reported by TV BRICS, a NAN partner, citing data from Ethiopia’s state-owned electricity company. The growth is strengthening Ethiopia’s position as a regional energy hub and generating increased revenue from electricity exports to neighbouring countries, the report notes. During the reporting period, the company increased its generating capacity to more than 9,000 megawatts, representing a 23 per cent increase. At the same time, hydropower plants accounted for 97…

Pakistan Remains Hopeful for U.S.-Iran Dialogue Amid Escalating Tensions Pakistan remains hopeful for a diplomatic resolution despite recent escalations between the United States and Iran. Tahir Andrabi, Pakistani Foreign Ministry spokesperson disclosed this on Wednesday. Speaking at a weekly press briefing, Andrabi said Pakistan would continue its efforts to promote dialogue and diplomacy between the two sides. He also stated that “Pakistan remains hopeful and will continue to strive for dialogue and diplomacy.” The official added that Pakistan would continue its efforts on the crucial issue of the Strait of Hormuz and still hoped that both sides would return to…

Guinea-Bissau Approves New Constitution That Expands Presidential Powers Guinea-Bissau has approved a new ‌constitution in a referendum, with provisional results of expanding presidential powers and reshaped electoral rules ahead of a presidential election scheduled for December. The West African country, led by military officers who seized power in ​a coup in November 2025, voted on Sunday on reforms allowing the president to appoint and dismiss the ​prime minister and cabinet. The president can also create or abolish ministries and dissolve parliament in ⁠the event of a grave political crisis. Under the current constitution, Guinea-Bissau’s legislature names a prime ​minister who…

The Central Bank of Nigeria (CBN) is scheduled to hold its first Treasury bills auction for September on Wednesday, with N700 billion on offer.

Erin Piacenti, Bank of America VP, Killed in Times Square Attack A Bank of America vice president has been identified as the woman fatally stabbed in a random attack in Times Square on Monday afternoon. The victim, Erin Piacenti, 32, from Chester, New Jersey, was Vice President of Business Selection and Conflicts in Bank of America’s global corporate and investment banking division, according to her LinkedIn profile and reports first published by Bloomberg. She died from abdominal stab wounds sustained in the attack. The incident occurred around 4:20 p.m. near Seventh Avenue and West 42nd Street, one of New York’s…