In his first two months in office, President Bola Tinubu has ripped the Band-Aid off Nigeria’s ailing economy. Time will tell if it can heal, but for now, Nigerians are feeling the pain.
Tag: Economic Conditions and Trends
Russia Raises Interest Rates, Trying to Cool Wartime Economy
With the ruble weakening and the government spending ever more money on the war in Ukraine, Moscow took unexpectedly sharp action to curb inflation.
UK By-Election Results: 1 Win and 2 Defeats for the Tories
The governing Conservatives retained Boris Johnson’s former Parliament seat in northwest London, but lost in two districts, including a sobering defeat in northern England.
Antigovernment Protests in Kenya Leave Several Dead and Streets in Chaos
Antigovernment protests over price hikes and new taxes have left at least 31 people dead in recent weeks, prompting the country’s news outlets to join together to issue a dire warning.
U.K. Inflation Rate Slows to 7.9 Percent
The larger-than-expected slowdown, led by motor vehicle fuel prices, offers some relief to the government and the Bank of England.
As Sunak Makes His Case to Britons, the Economy Could Undermine It
Britain’s Conservative government faces a morass of problems, some new, others longstanding, that are stymying Prime Minister Rishi Sunak.
The Economic Fallout From Extreme Heat Will Rise Over Time
Among the costs of very high temperatures: reduced labor productivity, damaged crops, higher mortality rates, trade disruption and dampened investment.
Biden Bets High-Level Diplomacy Can Cool Fiery Relations With China
President Biden hopes the diplomatic trips this summer by his aides lead to frank talks with Xi Jinping and other Chinese officials before the 2024 U.S. elections.
Janet Yellen’s Trip to China: No Breakthroughs But 10 Hours of Talks
Treasury Secretary Janet Yellen, after 10 hours of meetings with Chinese officials, said the two sides would pursue “more frequent communication” despite their deep differences.
German Businesses Bet Big on China, and They’re Starting to Worry
Geopolitical risks have exposed long-ignored strains on Germany’s socioeconomic model. The family businesses underpinning its economy are seeking a new path.