Fed likely to stay the course on interest rate hike as inflation ticks up but gas prices ease

The Federal Reserve received mixed news in the latest data on U.S. inflation as it mulls another rate hike. Consumer prices rose 8.3% in August from a year earlier, data released on Sept. 13, 2022, shows. While this pace is down from the 8.5% annual gain experienced in July, it’s still higher than what some […]

‘We’ve seen the squeeze.’ Johann Rupert warns inflation is hitting even wealthy shoppers

The chairperson of Richemont, the Swiss owner of Cartier and watchmakers, including IWC and Vacheron Constantin, said inflation is starting to hit luxury demand in Europe. Persistent higher prices are prompting even well-heeled European consumers to scale back buying, according to Johann Rupert, the leader and controlling shareholder of the luxury conglomerate. “We’ve seen the […]

four priorities president-elect Bola Tinubu must deliver on

Bola Tinubu, the winner of Nigeria’s keenly contested presidential election, will have a daunting task fixing a near comatose economy. His administration will encounter monumental economic, security and political challenges. They will be greeted by a distraught populace bedevilled by rising poverty, inflation, unemployment and unprecedented levels of insecurity. The high poverty and unemployment rates […]

Ukraine’s economy went from Soviet chaos to oligarch domination to vital global trader of wheat and neon – and now Russian devastation

Ukraine’s economy continues to operate despite the battering the country is getting from the Russian military. Many factories and businesses still function. Other industries like those in information technology have barely missed a beat, with workers continuing to work from areas out of the direct line of fire. But Ukraine has been largely transformed into […]

A gloomy May Day awaits Nigerian workers

Imagine you live alone and walk into a local food market in Lagos, the Nigerian commercial capital, to buy a week’s worth of basic food items. In less than 15 minutes, you would find that you’ve spent at least 10,000 Naira (or US$24 at the official exchange rate of US$1 = 416 Naira). This may […]

Why import restrictions aren’t enough to help Nigeria industrialise

Nigeria has a strong ambition to industrialise. It has relied heavily on the restriction of imports of certain goods targeted for domestic production. But for Nigeria’s industrialisation drive to succeed, it needs a broader array of industrial policy tools than simply import restrictions. These tools should include addressing binding constraints in different sectors to raise […]

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