Author: Ogochukwu Ndubuisi

Trump Plans 100% Tariff on Foreign Films U.S. President Donald Trump says he would introduce 100 per cent tariffs on films produced abroad and imported into the U.S, amid a broader protectionist push. “The Movie Industry in America is DYING a very fast death,” Trump said on his Truth Social platform, claiming that foreign countries were offering all sorts of incentives to draw our filmmakers and studios away from the United States. “Hollywood, and many other areas within the U.S.A., is being devastated.” “This is a concerted effort by other Nations and, therefore, a National Security threat,” Trump continued. “I…

EU Concerned About Israel’s Plans to Take Over Gaza The European Union (EU) has expressed concerns about plans by the Israeli security Cabinet to take over the Gaza Strip and for the army to control the territory. An EU spokesman said in Brussels that the union was concerned about the extension of these operations in Gaza, which would lead to further casualties and additional suffering for the Palestinian population. “The Palestinian population has suffered enough in recent years and it’s time to put an end to the violence and suffering. “The EU urges for Israel to hold back,” he added,…

Germany Rejects U.S. Criticism Over AfD Extremism Designation The German cabinet has strongly rejected criticism from U.S. Senator Marco Rubio regarding the decision by Germany’s domestic intelligence agency to classify the opposition Alternative for Germany (AfD) party as a right-wing extremist group. Rubio, speaking on Friday, described the move as “tyranny in disguise,” claiming that granting the agency expanded powers to surveil a political opposition party was undemocratic. He urged the German government to reverse its decision. “We strongly reject the statements made by the U.S. Secretary of State,” said Foreign Office spokesman Sebastian Fischer on Monday, clarifying Rubio’s title…

Trade Turnover Between Russia, Kazakhstan Jumps to $28bn Trade volume between Russia and Kazakhstan exceeded 28 billion dollars, while Russian exports increased by almost five per cent at the end of 2024, according to the Kazinform, a partner of TV BRICS. Kazinform said that the main growth emanated from machinery, transport, chemicals, and minerals. More than 70 major investment projects with Russian participation are being implemented in Kazakhstan. “We are talking about the automotive industry, agricultural machinery, pharmaceuticals, and digital technologies,” Kazinform reported an official as saying. In addition, in 2024, the tourist flow between the countries exceeded 4.8 million…

IMPI: AfDB President Adesina Wrong on Nigeria’s 1960 GDP Figures The Independent Media and Policy Initiative (IMPI) says Nigeria’s Gross Domestic Product (GDP) per capita at independence in 1960 was 93 dollars, not 1,847 dollars as claimed by Dr Akinwumi Adesina, President of the African Development Bank (AfDB). In a statement on Monday, Dr Omoniyi Akinsiju, Chairman of the group, said Adesina’s claim, made during a recent keynote address at the 20th anniversary dinner of investment firm Chapel Hill Denham in Lagos, was a misrepresentation of facts. “We have reviewed some of the submissions made by Adesina, and we found…

Lagos, BoI to Sign MoU to Improve SMEs Access to Finance The Lagos State Ministry of Commerce, Cooperatives, Trade and Investment is set to sign a Memorandum of Understanding (MoU) with the Bank of Industry (BoI) and Sterling Bank Plc to improve financial access for Small and Medium Enterprises (SMEs). The Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, said this in a statement on Monday in Lagos. According to the commissioner, the development is part of the state government’s efforts to boost access to finance for entrepreneurs across the state. She said the signing ceremony was part…

Sterling Hovers at $1.33 Ahead of BoE Policy Decision The British pound, or the sterling, hovered near $1.33 as markets awaited the Bank of England’s upcoming policy decision. Investors and market analysts are pricing a 25 basis point rate cut to 4.25% with the current dynamics and general sentiment across the market, with a focus on key data and forming a trend. Investors are also watching for the bank’s updated economic forecasts, which could signal whether further cuts are likely. Some analysts believe the BoE may lean toward a more aggressive easing path in response to global risks, especially those…

Airtel Africa, SpaceX Partner to Usher in Starlink Internet into Africa Airtel Africa, on Monday announced that it has entered an agreement with SpaceX to bring Starlink’s high-speed internet services to its customers in Africa. Airtel Africa said this in a statement. It said that currently, SpaceX had acquired requisite licenses in nine out of 14 countries within Airtel Africa’s footprint, noting that operating licenses for the other five countries were being processed. “With this collaboration, Airtel Africa will further enhance its next-generation satellite connectivity offerings and augment connectivity for enterprises, businesses, and socio-economic communities like schools, and health centres…

Yield on Nigerian Bonds Settles at 19% after Fresh Supply Nigerian government bonds yield climbed slightly to 19% in the secondary market following post-primary market sell pressure. In the secondary market, traders’ sentiment was relatively bearish. Market participants sold off short-dated bonds, further reflecting investors’ cautious bias for duration exposure. As a result, the average yield expanded by 2 basis points to close the just concluded week at 19.0%.  Fixed income market analysts at Cordros Capital Limited said the average yield increased at the short (+14 bps) end. The yield surge was driven by selloffs of the JAN-2026 (+56 bps)…

Access Holdings Profit Grows by 14.7% in Q1-2025 Nigeria’s largest lender by total assets, Access Holdings Plc, profit after tax increased by 14.7% year on year in the first quarter of financial year 2025, details from the group’s unaudited results revealed. Details obtained from its unaudited financial statement showed that profit after tax settled at N182.75 billion in Q1 as against N159.29 billion recorded in the first quarter of 2024. Net interest income slumped by 10% year on year to N220.206 billion in Q1 as against N275.719 billion in the comparable period in 2024. Following a year-on-year moderation in the…