Business

Global bonds fall as surging oil prices inflame inflation risks

Global bonds buckle as surging oil prices inflame inflation risks

Bessent says 'a large bank' will be sanctioned on Monday as part of Iran strategy

U.S. Treasury Secretary Scott Bessent said that a large bank would be sanctioned next week.

Dangote refinery discloses 14 suits, N295bn claims

Dangote refinery reveals it is facing 14 lawsuits with claims totalling N295bn, as disclosed in its recent Initial Public Offering (IPO) prospectus. Read More: https://punchng.com/dangote-refinery-discloses-14-suits-n295bn-claims/

No Nigerian airline made $1m profit, Onyema declares

Air Peace Chairman Allen Onyema reveals that no Nigerian airline has made a $1m annual profit due to high taxes and operating costs. Read more. Read More: https://punchng.com/no-nigerian-airline-made-1m-profit-onyema-declares/

Oil output drops 5,000bpd in August amid recovery

Nigeria’s oil output fell by 5,000 barrels per day in August, the second straight monthly decline, according to OPEC’s latest report. Read more on the data Read More: https://punchng.com/oil-output-drops-5000bpd-in-august-amid-recovery/

Dangote IPO: Rewane projects $600bn as IPMAN backs refinery

The Independent Petroleum Marketers Association of Nigeria has urged its members nationwide to invest in the planned Initial Public Offering of the Dangote Petroleum Refinery, as Financial Derivatives Company Chief Executive Officer…

OpenAI Is Open to Slowing Cutting-Edge AI, CEO Sam Altman Tells Staff

OpenAI is considering slowing down the development of cutting-edge artificial intelligence, and the ChatGPT maker’s Chief Executive Officer Sam Altman is hoping that other AI companies will do the same.

FRSC warns overloading endangers lives, damages roads

The FRSC warns that vehicle overloading threatens lives, damages Nigerian roads, and harms the economy, calling for shared responsibility to stop the pract Read More: https://punchng.com/frsc-warns-overloading-endangers-lives-damages-roads/

Japan's wholesale inflation stays elevated in August, boosts case for rate hike

Tencent-Backed Chipmaker Enflame to Debut After $911 Million IPO

Shanghai Enflame Technology Co., backed by Tencent Holdings Ltd., is set to begin trading in Shanghai Friday after raising about 6.12 billion yuan ($911m), as the last of the so-called “four little dragons” of leading Chinese artificial…

Japan’s Producer Price Gains Stay Elevated, Backing BOJ Hikes

Prices for Japan’s corporate goods rose at a faster pace than expected in August, supporting the case for the Bank of Japan to keep raising interest rates to stem upside inflation risks.