ABUJA (Reuters) – Nigeria’s Senate amended a law on Saturday to allow the federal government to borrow more money from the central bank, just days before incoming President Bola Tinubu takes office. The changes, adopted during an emergency session, will allow the government to increase its overdraft at the Central Bank of Nigeria to 15%…
BEIJING (Reuters) – The financial regulator of China’s Wuhan city publicly exposed 259 firms with debt to the government and urged them to immediately pay up, local media reported on Saturday. The rare action from Wuhan’s finance bureau on Friday comes as local governments in China become increasingly pressed by higher debt and expenses. Wuhan…
By Steve Holland, Moira Warburton and Rami Ayyub WASHINGTON (Reuters) -Democratic President Joe Biden and a Republican negotiator said on Friday they were working on a deal to raise the U.S. government’s $31.4 trillion debt ceiling after the Treasury Department warned that a June 5 default loomed without action. The two sides have been negotiating…
(Reuters) – Germany’s Talanx said on Saturday it had acquired Liberty Mutual Insurance’s Latin America business for about 1.38 billion euros ($1.52 billion), through its subsidiary HDI International. “The acquisition encompasses Liberty’s retail business in Brazil, Chile, Colombia and Ecuador,” Talanx said, adding that the transaction is expected to close in the first half of 2024. ($1…
(Reuters) – Tehran on Saturday accused Ukrainian President Volodymyr Zelenskiy of anti-Iranian propaganda in his call for Iran to halt the supply of drones to Russia, saying his comments were designed to attract more arms and financial aid from the West. Zelenskiy in a video address on Wednesday called on Iranians to stop their slide…
WARSAW (Reuters) – Poland plans to raise the minimum wage twice in 2024 to help people cope with high inflation, Family and Social Policy Minister Marlena Malag said, as the ruling Law and Justice (PiS) party prepares for a parliamentary election later this year. The cost of living has been growing significantly in recent months,…
By Jorge Garcia LOS ANGELES (Reuters) – Unions representing teachers, truck drivers and other workers who will be headed soon to the bargaining table turned out in downtown Los Angeles on Friday to support Hollywood’s striking film and television writers. The Writers Guild of America (WGA) began a work stoppage on May 2 after failing…
NEW DELHI/KATHMANDU (Reuters) – Nepal’s Prime Minister Pushpa Kumar Dahal will visit India next week and hold talks with his Indian counterpart Narendra Modi to strengthen the historically deep ties between the two countries. The visit will “further strengthen the age-old, multifaceted, and cordial relations between Nepal and India,” Nepal’s foreign ministry said in a…
BEIJING (Reuters) – Economic and trade development in the Asia-Pacific still faces many disturbances and challenges, China’s commerce minister Wang Wentao said. Wang made the comments at the Asia-Pacific Economic Cooperation (APEC) conference in Detroit, where he met with several leaders and exchanged views on multilateral and bilateral economic and trade issues amid wider global…
By Josh Smith and Sudev Kiyada SEOUL (Reuters) – For North Koreans, the country’s northern frontier long offered rare access to outside information, trade opportunities, and the best option for those seeking to flee. But as the pandemic gripped the world in 2020, Kim Jong Un’s regime embarked on a massive exercise to seal its…
