European Central Bank could launch its digital currency within 4 years, says Christine Lagarde
Charles Abuede
March 31, 2021
Charles Abuede The President of the European Central Bank (ECB), Christine Lagarde, has said her institution could launch a digital currency within the next four years (2025) if her fellow policy makers grant the project the support and green light this summer. Lagarde, who made this revelation during a monitored interview on Wednesday said: “We […]
Turkey increases Africa footprint as Turk-Afro trade rallies 579% to $26bn in 2021
Ben Eguzozie in Port HarcourtMarch 11, 2021
…Turkish airlines fly to 51 destinations in 33 African countries …Turkish FDI in Africa in 2021 hits $6.5bn, from $100m in 2003 …Increases embassies to 43 this year Ben Eguzozie, in Port Harcourt Turkey, a member of the European Union, has been making a decided footprint and influence in Africa at breakneck speed. […]
EU businesses to cut investments in 2020, says EIB report
Businessam StaffNovember 26, 2019
By Samson Echenim
UK public becoming more pessimistic over Brexit’s economic impact, Bank of England reveals
Businessam StaffDecember 15, 2017
A major new survey for the Bank of England has found that the British public has become more pessimistic about the economic impact of country’s withdrawal from the European Union (EU). According to The independent, a survey by NMG of some 6,000 households, conducted in September, shows that the proportion of households expecting to leave the European […]
May urges EU leaders to move on with Brexit talks
Businessam StaffDecember 14, 2017
Theresa May, British Prime Minister, will urge European Union leaders to approve an agreement to move Brexit talks on to a second phase on Thursday, describing it as a fair deal that offers a good base for a discussion of future ties. According to report by Reuters, at the beginning of a dinner in Brussels, 24 […]
2017 set to be worst year for UK consumer spending since 2012, Visa says
Businessam StaffDecember 11, 2017
UK consumer spending declined for a third consecutive month in November, putting 2017 on track to be the worst year for expenditure since 2012, new data reveals. Figures published by Visa on Monday show that household spending fell by 0.9 per cent on the same month a year ago, following a 2.1 per cent decline […]
UK state pensions ranked the worst in the developed world
Businessam StaffDecember 6, 2017
The British state pension is now worst in the developed world as it has fallen below Mexico and Chile, data shows. An average worker entering the UK workforce today can expect to receive less than a third (29 per cent) of their final working salary as a basic pension income after tax, according to a […]
U.K. consumers drive economic growth in q3 as Brexit takes toll on business investment
Businessam StaffNovember 23, 2017
Consumers drove the British economy in the third quarter as spending on cars rebounded but Brexit appears to be inflicting a toll on business investment. According to the report from the Office for National Statistics Thursday, household spending rose 0.6 percent, the fastest pace in a year. But business investment slowed and net trade acted as […]
EU members approve post-2020 CO2 market reform deal
Businessam StaffNovember 22, 2017
Representatives from EU member states Wednesday approved proposed changes to the EU Emissions Trading System, following an informal agreement reached November 8 between the EU Parliament and Council. “The ETS reform will help the EU to deliver on its target of cutting greenhouse gas emissions by at least 40% by 2030, as agreed under the […]
U.K. predicts worse growth, earmarks cash for hard Brexit
Businessam StaffNovember 22, 2017
Prime Minister Theresa May’s under-fire government acknowledged the U.K. economic outlook is deteriorating as it set aside an extra 3 billion pounds ($4 billion) to prepare for all possible Brexit outcomes. Opening his Budget speech in Parliament on Wednesday, Chancellor of the Exchequer Philip Hammond said the Office for Budget Responsibility now sees 2018 economic […]