How inflation made West Africa’s prized jollof rice a pricey meal
Synopsis by aljazeera.com May 23 23
Inflation driven by economic instability, fallout from war in Ukraine and COVID have made ...Read full article 
aljazeera.com: How inflation made West Africa’s prized jollof rice a pricey meal
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(USD/NGN) Nigerian Currency’s World Beating Gains Yet to Temper Inflation: Nigerian inflation accelerated more than anticipated to a 28-year high ...
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US to grow at double the rate of G7 peers this year, says IMF: Fund also upgrades inflation forecasts as strong demand and tight labour market delay possible Fed ...
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Quick Glance: IMF upgrades global growth forecast despite risks
- The International Monetary Fund slightly raised its global growth forecast on Tuesday, noting that the economy had proven 'surprisingly resilient' despite inflationary pressures and monetary policy shifts.
- IMF's chief economist, Pierre-Olivier Gourinchas, indicated that the global economy is heading for a 'soft landing,' with risks to the outlook now broadly balanced.
- While advanced economies are expected to lead the growth, dim prospects in China and other major emerging markets could impact global trade partners, according to the report.
- Despite Tuesday's brighter outlook, global growth remains low compared to historical standards, partly due to weak productivity growth and increasing geopolitical fragmentation.
REPORT: Nestle Adds Sugar to Baby Food Sold in Nigeria, Other Poor Countries Against WHO Guidelines
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Quick Glance: Nestlé adds sugar to infant milk sold in poorer countries
- Nestlé adds sugar and honey to infant milk and cereal products in poorer countries, contradicting international guidelines.
- Public Eye's investigation revealed that products like Nido and Cerelac contain added sugar in many countries, while this is not the case in European markets.
- The World Health Organization warns of rising childhood obesity in poorer countries and emphasizes no added sugars for children under three years old.
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Brazil seeks to weaken fiscal targets it set only a year ago: Leftist administration of Luiz Inácio Lula da Silva wants greater flexibility on budget surplus ...
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Quick Glance: Brazil Moves to Relax Fiscal Targets Set a Year Ago
- The leftist administration of Luiz Inácio Lula da Silva wants more flexibility on budget surplus goals
- Brazilian President Luiz Inácio Lula da Silva’s government is seeking to loosen its own budget targets as investor concerns rise about the risk of fiscal slippage in Latin America’s largest economy
- Ministers intend to balance the budget next year, replacing the previous goal for income to exceed outgoings by 0.5 per cent of gross domestic product
- Analysts warn that the current deficit targets are unrealistic and likely to be tweaked, prompting investors to express concerns about Brazil’s economic approach under Lula
UK inflation falls as crumpet and meat prices drop: New official figures show that inflation, the rate at which prices rise over time, fell again in March.
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Quick Glance: Powell Warns of Lack of Progress on Inflation
- Federal Reserve Chair Jerome Powell emphasized that the U.S. economy, while otherwise strong, has not seen a return of inflation to the central bank's target.
- Powell mentioned that the current policy should remain in place as inflation has not declined quickly enough and there has been no further progress towards the 2% goal.
- Since July 2023, the Fed has maintained its benchmark interest rate in a target range between 5.25% and 5.5%, the result of 11 consecutive rate hikes.
- Financial markets have had to adjust their expectations for rate cuts this year as inflation has been higher than expected, and the Fed's policy continues to be dependent on data.
US deficit poses ‘significant risks’ to global economy, warns IMF: Fund also cites concerns over fiscal ‘imbalances’ in UK, China and Italy
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Quick Glance: IMF Warns of Fiscal Deficits in US and China
- The IMF has warned the US that its massive fiscal deficits have stoked inflation and pose “significant risks” for the global economy.
- Concerns were also raised about Chinese government debt, with the country projected to have a deficit of 7.6 per cent in 2025, more than double the average for other emerging markets.
- In addition to the US and China, the fund named two more countries that “critically need to take policy action to address fundamental imbalances between spending and revenues”.
- The IMF noted that “large and sudden increases” in US borrowing costs typically lead to surges in government bond yields globally and exchange rate turbulence in emerging markets and developing economies.
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JPMorgan warns of need for ‘reality check’ on phasing out fossil fuels: US bank says higher interest rates, inflation and global conflict have dented outlook for ...
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Quick Glance: JPMorgan warns of Need for 'Reality Check' on Phasing out Fossil Fuels
- JPMorgan warns of setbacks in transitioning to renewable energy due to higher interest rates, inflation, and global conflicts.
- Investment in renewable energy currently offers subpar returns, potentially leading to social unrest.
- JPMorgan forecasts increasing demand for oil and gas until 2030, highlighting challenges in transitioning to renewable energy.
- Wood Mackenzie warns of the impact of higher interest rates on transitioning to a global net-zero economy, especially for renewables and nuclear power.
Naira gains at official market amidst depleting reserve: Market data published on the FMDQ website on Wednesday indicated that the naira closed at N1,072 ...
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Cash: Germans' assets at record value - Daily money is also popular: The Germans have more money in their pockets again. The reason for this is higher interest ...
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Quick Glance: Record: Germans Hold 7716 Billion Euros in Wealth
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Woman rescued 10 years after Chibok kidnapping in Nigeria: The Islamist group Boko Haram seized 276 girls from a school in Chibok in 2014
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Ten years ago 276 Nigerian school girls were abducted by Islamist group Boko Haram from their school in Chibok, Nigeria.
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Quick Glance: Record Audience at NCAA Women's Championship
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- Nielsen's final numbers on Tuesday may reveal an increase in viewership.
- It marks the most-watched basketball game since 2019, when the men's NCAA title game between Virginia and Texas Tech averaged 19.6 million viewers on CBS.
- The women's final also recorded the highest viewership for a Sunday afternoon sporting event on ESPN and ABC since early 2021.
Binance working closely with Nigeria authorities to resolve exec's detention, CEO says
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Resurgent inflation looms over Joe Biden’s White House bid: Consumer prices are rising quickly at just the wrong time for the US president
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Nigerian court adjourns Binance and executives' tax evasion trial to May 17: A Nigerian court on Friday adjourned a tax evasion trial against cryptocurrency ...
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Chibok girls feel let down 10 years after Nigeria kidnapping: Most of the Chibok girls abducted 10 years ago in Nigeria are now free but some feel badly let down ...
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Japanese Emperor Sows Rice at Imperial Palace in Annual Tradition
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Mortgage rates top 7 percent for first time in 2024: Mortgage rates topped 7 percent for the first time this year, according to data released Friday by Freddie ...
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Biden's new take on inflation: Trump would be worse: Biden's team knows there's not a lot it can do to lower it before the Nov. 5 election.
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Quick Glance: Biden's New Perspective on Inflation: Trump Would Be Worse
- The White House warns that inflation would worsen if Trump is re-elected as a strategy to sway voters.
- March's inflation increase surpassed expectations, undermining Biden's claim of lowering prices.
- Rising oil prices due to geopolitical tensions could lead to higher gas prices, a concern for the White House.
- Biden emphasizes fighting inflation as top priority while experts debate the impact of his economic stimulus packages.
Joe Biden’s approval rating on the economy is rising among US voters: FT-Michigan Ross poll finds president’s gains could be derailed by persistent fears over ...
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US and India stoke hopes of global growth in 2024 : FT-Brookings Tiger index shows ‘positive omens’ for modest pick-up compared with last year
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Escalating Middle East tensions a fresh jolt to world markets: Reports of an Israeli attack on Iranian soil that possibly drags the Middle East into a deeper ...
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Quick Glance: Escalating Middle East Tensions Shake World Markets
- Reports of an Israeli attack on Iranian soil potentially dragging the Middle East into a deeper conflict have rattled world markets with geopolitical risks.
- Stocks fell, oil briefly rose over $3 per barrel, and safe-haven government bonds rallied.
- The heightened tensions bring fresh uncertainty and fuel concerns that high oil prices and potential supply disruptions will keep inflation high.
- Energy stocks benefit from higher oil prices, while demand for safe-havens like US or German bonds rises amid renewed inflation risks from rising oil.
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Food inflation across rich nations drops to pre-Ukraine war levels: Annual change in prices across 38 industrialised countries eased to 5.3% in February ...
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Quick Glance: Decline in Food Prices in Industrialized Countries
- Annual change in prices across 38 industrialized countries eased to 5.3% in February, according to the latest OECD data.
- Food inflation across rich nations has dropped to its lowest level since before Russia’s full-scale invasion of Ukraine, alleviating pressure on households affected by cost increases.
- The OECD is expected to address food prices as part of its comprehensive inflation update.
- The decrease in food price inflation was widespread in industrialized countries in February, with the latest OECD reading halved or almost halved from recent peaks.
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Consumer Prices Rose 3.5% in March From Year Earlier: Annual inflation ticked up and underlying price pressures remained strong last month. .
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If the Reserve Bank were a football coach, it would have been sacked eons ago: The bank’s job is to hold inflation between 2 and 3 per cent. Since mid-2014 ...
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Addressing Nigeria's Mental Health Challenge Amidst Economic Hardship | Africanews
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Quick Glance: Inflation down in German states, signaling national decline
- Inflation fell in six economically essential German states in March, indicating that national inflation will continue its downward trend.
- Economists will closely monitor national inflation data as Germany releases its figures a day before the Eurozone inflation data on Wednesday.
- German companies expected the lowest prices in three years in March, with forecasts of inflation falling below the European Central Bank's target in the upcoming months.
- An increasing number of ECB policymakers have backed rate cuts, with a June meeting appearing as the most probable time for action, although a meeting is also scheduled for this month.
Small business optimism hits lowest level since 2012: NFIB: The NFIB's Small Business Optimism Index slid in March to its lowest level since December 2012 amid ...
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Few in new poll say Biden law has helped fight climate change: Very few Americans believe the Inflation Reduction Act (IRA), signed into law by President Biden ...
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15 Armenian Recipes You'll Want to Make Every Day: This introduction to Armenian cuisine includes celebratory dishes and simple, everyday staples.
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Nigeria recalls J&J children's cough syrup over toxic substance: Nigeria's health regulator is recalling a batch of Johnson & Johnson children's cough syrup ...
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US employers added a surprisingly robust 303,000 jobs in March in a sign of economic strength
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Quick Glance: US economy adds impressive 303,000 jobs last month
- Employers added 303,000 jobs in March, bringing the unemployment rate down to 3.8%.
- US stock futures rose slightly on Friday morning, but markets have had a rough week.
- The S&P 500 companies are expected to report positive first-quarter earnings, fueling optimism in the market.
- Investors are hopeful for a strong earnings season to continue the stock rally amidst concerns about inflation and interest rates.
Sextortion case: Two arrested in Nigeria after Australian boy's suicide: Two people in Nigeria threatened to send explicit photos to the teenager's family ...
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Nigeria, Zambia women win playoffs to take last two Olympic spots: Zambia and Nigeria locked up the last two spots in the women's soccer tournament at the Paris ...
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62 year old woman catfished by fake Gary Barlow on Facebook: A woman from Colchester was 'catfished' by a scam artist pretending to be Take That's ...
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Quick Glance: 62-year-old Woman Duped by Fake Gary Barlow on Facebook
- A 62-year-old woman named Janet Smith was tricked by a scam artist pretending to be Gary Barlow from Take That.
- After persuading the fake Gary to reveal his true identity, it turned out to be a 24-year-old man from Nigeria.
- Smith has decided to warn others about online scammers after learning that the scammer asked her for money, claiming to love her.
- She highlighted the risk older people face when adding fake celebrities on social media, emphasizing the potential financial losses and damage to celebrities' reputations.
Bobrisky: Nigerian celebrity arrested for abuse of naira: The socialite is accused of throwing money at a film premiere in Lagos, which is technically an offence ...
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Boko Haram in Nigeria simply explained: that's why men join in: Boko Haram members have been terrorizing the population of northeastern Nigeria for more than ...
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Xi Jinping says China’s exports are helping ease global inflation: Chinese president warns German Chancellor Olaf Scholz against ‘rise of protectionism’
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U.S. Mortgage Rates Jump Above 7% for the First Time This Year: Rates on 30-year mortgages — the most common kind among U.S. homeowners — surpassed the 7 percent ...
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Quick Glance: Mortgage Rates Surge Above 7% in 2024, Posing Major Dilemma for Homebuyers
- US mortgage rates have surged above 7%, increasing costs for homebuyers.
- The rise in mortgage rates impacts monthly costs, limiting purchasing power.
- Uncertainty surrounding rate trends poses a decision dilemma for potential homebuyers.
- Experts anticipate a moderate easing of mortgage rates later in the year.
Petrol and diesel back to nearly €2 a litre as drivers hit by biggest price rise this year
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Betta Edu probe: Nigeria recovers $24m in poverty minister investigation - EFCC: Funds have been traced to over 50 bank accounts following Betta Edu's suspension ...
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Michael Palin on the loss of his wife of 57 years: ‘you feel you’ll never have a friend as close as that’
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Business defaults soar as Australian house prices outpace the globe: Australian house prices are out-performing most of the world, even after inflation ...
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UBA’s annual profit surges 257% to N608 billion: Gross revenue for the pan-African financial services group which, apart from its home market Nigeria ...
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Betta Edu, Sadiya Farouq, others not yet cleared of alleged fraud – EFCC: EFCC clarified in a statement on Sunday that it "has not cleared anyone allegedly ...
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I’ll like to be Super Eagles coach, but … – Amuneke: Amuneke shares his thoughts about the prospect of coaching the Nigeria's Super Eagles.
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Basic tax-free allowance: 244,000 pensioners do not have to pay taxes: The basic tax-free allowance was increased at the turn of the year to compensate for ...
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A Nigerian schoolgirl abducted by extremists 10 years ago is rescued pregnant, with 3 kids | Africanews
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Nigeria: Muslims mark end of Ramadan with Eid al-Fitr prayers | Africanews: Hundreds of Muslim worshippers in Nigeria on Wednesday gathered to hold prayers for ...
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Jamie Dimon warns rates could stay high as market mood shifts: JPMorgan chief says inflation could be ‘stickier’ than markets expect in annual letter to ...
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Quick Glance: Jamie Dimon warns of potentially prolonged high rates
- JPMorgan chief Jamie Dimon warns in his annual letter to investors of potentially prolonged higher inflation and interest rates due to high government spending.
- Dimon mentioned that the economy is being fueled by government deficit spending and past stimuli, which could lead to potentially stickier inflation and higher rates.
- Financial markets have significantly reduced their expectations for the number of expected rate cuts by the US Federal Reserve, with only two quarter-point cuts planned in 2024.
- Dimon also warns of the risks of the private credit market boom and emphasizes that regulations may increasingly focus on this market, warning of geopolitical risks due to events like Russia's invasion of Ukraine.
Nigeria suspends permit of 3 private jet operators | Africanews: Nigeria's Civil Aviation Authority (NCAA) has taken action against private jet operators ...
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Rashee Rice: Arrest warrant issued for Kansas City Chiefs wide receiver over crash
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Quick Glance: Arrest warrant issued for player of Kansas City Chiefs after accident in Dallas
- An arrest warrant has been issued for Rashee Rice, a player of the Kansas City Chiefs, in connection with a high-speed crash in Dallas last month.
- Dallas police announced that Rice and another driver were speeding in their two vehicles in the far-left lane of the North Central Expressway, causing a chain reaction involving four other vehicles.
- Neither Rice nor the other driver were in custody Wednesday evening, and the passengers in their cars will not be charged, police said.
- Royce West, Rice's attorney, apologized for his client's role in the crash and stated that Rice is cooperating with authorities. The Kansas City Chiefs have yet to comment but are monitoring the situation.
Biden administration raises costs to drill on public lands: The Interior Department finalized a rule Friday making it more expensive for oil and gas producers to ...
thehill.com/policy/energy-environment/4590251-biden-administation-raises-costs-drill-public-lands/
Quick Glance: Biden Raises Drilling Costs on Federal Lands, Trump Courts Oil Donors
- The Biden administration has finalized a new rule requiring oil companies to pay at least ten times more for drilling on federal lands to generate more revenue for taxpayers.
- While Trump discusses easing drilling regulations with energy executives, the US is historically pumping a lot of crude oil, complicating regulations for Trump and Biden's climate agenda.
- The rule mandates higher bonds and royalties for fossil fuels on federal lands to better compensate taxpayers and cover the costs of cleaning up abandoned wells.
- In addition to reshaping fossil fuel production on federal lands, the administration has advanced renewable energy development on these tracts and significantly reduced rents and fees for clean energy projects.
The Forever Stamp is forever rising in price. How does the U.S. cost compare globally?
npr.org/2024/04/12/1244273973/forever-stamp-cost-price-going-up-usps-postage
This solo traveler drove from London to Lagos in a tiny car: She set off on a solo drive from London to Nigeria in January. Now Pelumi Nubi has received a hero’s ...
cnn.com/travel/solo-traveler-pelumi-nubi-london-lagos-peugeot-107/
Nigeria's junior footballers denied visas to play in Spain, says NFF: The Future Eagles were set to fly to Spain on Tuesday, ahead of their first match on Friday ...
bbc.com/news/world-africa-68759029
Nigerian military kills 192 terrorists, apprehends 341 others – official: DHQ said the troops also recovered 211 assorted weapons and 6,288 assorted ammunition ...
premiumtimesng.com/news/top-news/687204-nigerian-military-kills192-terrorists-apprehends-341-others-official.html
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