‘Recession is in the air’: German economy stagnates in 2nd quarter
Reuters The German economy stagnated in the second quarter, data showed on Friday, with the war in Ukraine, the pandemic and supply disruptions bringing Europe’s largest economy to the edge of a downturn. Gross domestic product was unchanged quarter on quarter in adjusted terms, the federal statistics office said. A Reuters poll of economists had […]
Nigeria’s Economy Will Definitely Go Into Recession – Finance Minister
An assessment by the Nigeria Bureau of Statistics indicates that Nigeria’s economy will go into a recession at an average of -4.4 per cent, the finance minister, Zainab Ahmed, has said. Ms Ahmed spoke while addressing journalists after the National Economic Council meeting on Thursday. “The National Bureau of Statistics (NBS) has made an assessment. […]
Wall Street Is Ignoring The Omens Of Recession
The world is on the brink of a recession if all the breathless headlines are to be believed. So why are U.S. stocks near all-time highs? That’s a question my MBA students have been asking me lately. Even the Federal Reserve is concerned – at least worried enough to reduce U.S. borrowing costs for the second time this year. Stocks are usually considered a barometer of a […]
S. Africa’s Economy Emerges From First Recession In Decade
South Africa emerged from its first recession in almost a decade in the third quarter as recoveries in manufacturing and agriculture contributed to an increase in economic growth. Gross domestic product rose by an annualized 2.2 percent in the three months through September compared with a revised 0.4 percent contraction in the prior quarter, Statistics […]
The President Who Caused a Recession
The last time South Africa fell into recession, in 2009, it was because of the global financial crisis. This time around, economists and business executives agree, the cause is a person: the president. Jacob Zuma’s erratic political moves are breeding policy uncertainty and reluctance to invest, helping explain why the economy of the continent’s most […]
Trump Dooms Dollar To Worst January Since 2008
The dollar was on course for its worst start to a year in more than a decade on Tuesday after a trade adviser to President Donald Trump added to signs the new administration may be trying to talk its currency down. Suggestions by the head of Trump’s new National Trade Council, Peter Navarro, that Germany […]
Nigeria’s Recession Deepens In Q3, Oil Output Falls
Nigeria’s recession deepened in the third quarter and oil production fell, the National Bureau of Statistics (NBS) said on Monday, as a dollar shortage kept Africa’s biggest economy in a stranglehold. Gross domestic product contracted by 2.24 percent year-on-year, the NBS said. That was even worse than the 2.06 decline in the second quarter, […]
Recession: Dangote Group Sacks 48 Workers
No fewer than 48 workers have been allegedly sacked by Dangote Group due to the economic recession in the country. Vanguard gathered that those affected were 36 expatriate and 12 local staff serving in Dangote Cement Plc and Dangote Industries Limited. Further findings showed that the reason for their sack was in connection with the […]
Over 100 Staff ‘Sacked’ As Recession Hits Nigerian Media
The current economic crisis has forced some Nigerian dailies to cut staff strength in their newsrooms across the country, PREMIUM TIMES learnt weekend. Sources in Leadership Newspaper in Abuja and The Punch in Lagos told PREMIUM TIMES the media giants recently let go of over a hundred journalists between them, citing rising cost of operation […]
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