Nigeria’s listed real estate investment fund, UPDC Real Estate Investment Trust, delivered a strong first-quarter performance, with profit growth rising by 36 percent, driven primarily by a sharp increase in rental income and a steady expansion of its asset base. According to its unaudited financial statement for the period ended March 31, 2026, the trust read more UPDC…
Manchester City moved top of the Premier League table with a hard-fought 1-0 victory over Burnley at Turf Moor on Wednesday, edging ahead of Arsenal in the title race. The result also confirmed Burnley’s relegation, marking their third drop from the top flight in five seasons as they return to the Championship alongside Wolverhampton Wanderers. read more EPL:…
American warships have fanned out across the Indian Ocean and Southeast Asian seas to intercept Iranian oil tankers, boarding and redirecting vessels loaded with millions of barrels of crude far from the war’s front lines, shipping and security sources told Reuters on Wednesday. At least three Iranian flagged tankers have been turned away from waters read more US…
Iran seized two vessels in the Strait of Hormuz on Wednesday, the first such action since the war began late February, raising fresh doubts about whether a fragile ceasefire between Tehran and Washington can hold. The Revolutionary Guards confirmed they had boarded and escorted the ships to Iranian shores for what they called maritime violations. read more Iran…
Despite remaining one of the world’s poorest nations and operating in one of Africa’s most complex environments, the Democratic Republic of the Congo (DRC) is on track to become the continent’s eighth-largest economy in 2026. BusinessDay analysis of GDP data across 53 African countries, based on estimates from the International Monetary Fund (IMF), shows the read more Rising…
Africa is entering a more complex phase, shaped by rising geopolitical tensions, shifting capital flows, and uneven growth across key markets. From currency pressures in East Africa to record valuations in Nigeria’s banking sector and renewed momentum in frontier economies, the continent is navigating both opportunity and risk in an increasingly volatile global environment. Global read more AFRICA…
Nigeria’s central bank has once again rolled out a new policy aimed at boosting transparency, improving the pricing of money, reducing opacity, and aligning the country with global market standards. At its core is the recently introduced Nigerian Overnight Financing Rate (NOFR), a reference rate. Like fuel prices in the real economy, benchmark rates act read more Explainer:…
Children aged 17 and below in the UK are set to be permanently barred from buying cigarettes after Parliament approved new anti-smoking laws in what ministers describe as the most significant public health reform in a generation. According to the BBC, both the House of Commons and the House of Lords have now agreed on read more Children…
Nigeria’s cosmetics import bill, estimated at over $1.1 billion, is intensifying calls for stronger local manufacturing and value addition in the sector, as policymakers and industry experts push for reduced dependence on imports. This was revealed at the media parley hosted by Nnanyelugo Ike-Muonso, director general, Raw Materials Research and Development Council, RRMRDC,in Abuja on read more Nigeria…
Ecobank Transnational Incorporated is in advanced talks with Bank of China to launch a direct local-currency-to-yuan settlement platform by year-end, as trade ties between Africa and China deepen. The proposed platform would allow businesses to settle transactions directly in Chinese yuan, bypassing the US dollar and reducing conversion costs that have long weighed on African read more Ecobank,…
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