It is now a swinging time for both Nigerian and Chinese firms as the much-awaited currency swap between their respective countries has finally become a done deal. And with the planned auctions of the Chinese Yuan by the Central Bank of Nigeria (CBN) and the Naira by the People’s Bank of China (PBoC) any time […]
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The Nigeria-China currency swap deal will not stifle local companies and make the country a dumping ground for Chinese goods, the Central Bank of Nigeria (CBN) said yesterday. The 41 items banned since 2015 will not be valid for the swap exchange, the CBN said. CBN spokesnman Isaac Okorafor said: “The fear is unfounded and […]
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Expectations are high over the $2.5billion bilateral currency swap agreement between the Central Bank of Nigeria and the People’s Bank of China. Ibrahim Apekhade Yusuf in this report looks at the fallout The official signing ceremony of the currency swap deal between Nigeria and China last weekend proved bookmakers wrong that the proposal which had […]
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China’s Central Bank said Thursday that it has signed a currency swap agreement with its Nigerian counterpart. The agreement will allow the two sides to swap a total of 15 billion Chinese yuan ($2.35 billion) for ₦720 billion or vice versa, in the next three years, the People’s Bank of China (PBOC) said on its […]
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Chinese President Xi Jinping on Tuesday told President Emmerson Mnangagwa of Zimbabwe that they should work towards a new chapter in ties, during the African leader’s first state visit to China since he seized power last year. Mnangagwa, who was sworn in as president in November after a de facto military coup ended Robert Mugabe’s […]
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Airbus is in talks to sell 100 or more jetliners to China during a visit by French President Emmanuel Macron to Beijing next week, people familiar with the negotiations said. Macron plans to visit on January 8-10, accompanied by 50 company executives including planemaking officials from Airbus. The value of a deal for around 100 […]
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The China EXIM Bank and the China Great Wall have agreed to bear fully, the cost of $550 million for the production of two satellites (NigComSat) for Nigeria. The Minister of Communication, Adebayo Shittu, made the disclosure while briefing State House correspondents after a closed door meeting with President Muhammadu Buhari, yesterday. According to him, […]
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A look at how people around the world are ringing in 2018: ___ NEW ZEALAND Tens of thousands of New Zealanders took to streets and beaches, becoming among the first in the world to usher in 2018. As the new year dawned in this southern hemisphere nation, fireworks boomed and crackled above city centers and […]
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President Xi Jinping stamped his authority over China’s economy at a major meeting ending Wednesday, which called for “reasonable” credit expansion, increased imports and more open markets and efforts to curb noxious pollution. The pledges were made under a new banner, “Xi Jinping Thought on Socialist Economy with Chinese Characteristics for a New Era”, at […]
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New home prices in China extended another month of steady growth in November, after picking up slightly in October, shrugging off a range of government moves to rein in an overheated property market. Average new home prices in China’s 70 major cities rose 0.3 percent in November from the previous month, in line with October’s […]
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China and Britain have vowed to continue and strengthen cooperation on a wide range of economic, financial and trade issues, including speeding the introduction of a London-Shanghai stock connect programme. In a joint statement on Saturday, coinciding with an official visit to China by British finance minister Philip Hammond, the countries also said they opposed […]
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US prosecutors have charged a New York woman with using Bitcoin and other crypto-currencies to send funds to the Islamic State group. Zoobia Shahnaz, 27, was arrested at her Long Island home on Thursday for sending over $150,000 through shell accounts in China, Pakistan and Turkey to benefit IS extremists. Much of the money came […]
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