Hong Kong plunges into recession as protests, trade war take toll
Hong Kong on Thursday confirmed it had plunged into its first recession since the global financial crisis as months of seething pro-democracy protests and the US-China trade war exact a heavy toll on the financial hub.
Iceland cuts rates again in race to beat recession
Iceland's central bank on Wednesday lowered its key interest rate for the third time this year as it battles with recession after a decade of solid growth.
South Africa slips into recession, against forecasts
South Africa's economy tipped into recession as it shrunk 0.7 percent in the second quarter, official data showed Tuesday, dealing a blow to President Cyril Ramaphosa who came to office in February.
Experts advise FG on post-recession management
Economic experts have advised the Federal Government to liberalize and privatize all infrastructure to sustain the post recession and have a strong foreign reserve to attract foreign investors to Nigeria. They also contended that instead of raising foreign loans to pay debts, government could realise over $500b from privatization of assets in five years. The…
After a bleak 2017, what hope for Nigeria in 2018?
2017 was bleak; blighted by inflation, recession, government prevarication on important decisions, an insincere war on corruption, uptick in Boko Haram attacks (mostly on soft targets) and needless pastoral conflicts. The gloom that the year represented was accentuated by the promise that heralded it. At the beginning of the year, the Muhammadu Buhari administration had…
At UACHD youth seminar, Utomi, Soludo, others give tips for overcoming recession
Addressing the gathering, former CBN Governor Prof. Chukwuma Charles Solundo said disruptive change is permanent feature of life, including nations, adding that recession will soon end but the scars will endure.
Weak corporate governance can undermine financial stability, says Emefiele
Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, has said weak corporate governance can undermine financial stability by heightening vulnerability of financial institutions to external shocks.
Exit from recession: Matters arising
Although President Muhammadu Buhari expressed happiness over the positive GDP growth rate of 0.55 per cent recorded in the second quarter of 2017 after negative growth rates in the preceding five quarters, he yearned for a meaningful economic improvement in the lives of Nigerians.
Food prices fall in Asaba
Mrs Angela Okonta, a food dealer, told NAN that a sac of garri which was previously sold for N20,000 now sold for 17,000. According to her, a bushel of garri which was sold for N1,000 in June now went for N700.