Under the directives of President Bola Tinubu, the Nigerian Federal Government has cleared approximately 96% of the long-standing dollar debts owed by the Nigerian National Petroleum Company (NNPC), totaling $1.42 billion. The move also wiped out 88% of its obligations in local currency (Naira). This strategic "debt write-off" follows a rigorous financial audit of royalties and oil production liabilities through the end of 2024, aiming to stabilize the state-owned oil giant's

Source: Xinhua China’s trade in services maintained a steady upward trajectory in the first 11 months of 2025, reaching nearly 7.2 trillion yuan ($1.02 trillion)—a 7.1% increase year-on-year. According to the Ministry of Commerce, service exports witnessed a robust growth of 13.4%, totaling 3.2 trillion yuan. This surge contributed to a significant reduction in the service trade deficit, which dropped by 279.63 billion yuan compared to the same period in 2024. The data highli

British-based International Personal Finance (IPF) has officially agreed to a £543 million ($733 million) takeover by BasePoint Capital, a U.S. investment firm. Under the definitive agreement, shareholders will receive 235 pence per share in cash—a 7% premium over the recent closing price. The board of IPF has unanimously recommended the deal, emphasizing that private ownership under BasePoint will provide the strategic backing necessary to scale operations and maximize long-

China has officially announced a significant reduction in import tariffs for 925 products effective early 2026, a strategic move aimed at accelerating industrial growth and securing critical supply chains. The Customs Tariff Commission of the State Council highlighted that these adjustments focus on high-tech raw materials, such as recycled black powder for lithium-ion batteries, and essential medical technologies, including artificial blood vessels and infectious disease dia

Next Thursday, Bulgaria is set to become the 21st nation to adopt the Euro, a landmark integration aimed at anchoring the EU’s poorest member within the Western economic sphere. While the transition is a strategic triumph for successive governments seeking to mitigate Russian influence, it has triggered significant domestic friction. Far-right and pro-Russian factions have capitalized on public anxiety, fueling protests to keep the Bulgarian Lev. According to Eurobarometer, 4

Central Bank of Syria Governor, Abdel Kader Al-Hasriya, has announced that the new Syrian currency will be officially introduced on January 1, 2026. This strategic move follows Decree No. 293 of 2025, marking a pivotal transition in the nation’s economic and monetary history. Al-Hasriya described the new currency as a "symbol of financial sovereignty" following the country's liberation and a cornerstone for economic recovery. The Central Bank will finalize preparations betwee

China has introduced a comprehensive policy framework featuring 21 specific measures to provide financial backing for the New International Land-Sea Trade Corridor. The joint document, issued by the People's Bank of China and the National Development and Reform Commission (NDRC), aims to optimize financial functions and settlements while establishing a cutting-edge digital financial services platform to facilitate trade with ASEAN markets. Since its inception in 2017, the cor

Shenzhen has retained its title as the top foreign trade hub among Chinese mainland cities, reaching a trade volume of 4.12 trillion yuan (approx. $584.6 billion) from January to November. Data from Shenzhen Customs reveals that exports hit 2.5 trillion yuan, while imports surged by 7.7% to reach 1.62 trillion yuan, signaling robust domestic and international demand. The city’s trade success is rooted in its high-tech prowess, with electromechanical products accounting for 81

According to the State Council Information Office, China’s fixed-asset investment in the transportation sector is expected to exceed 3.6 trillion yuan (approx. $513.61 billion) in 2025. The year marked a significant infrastructure milestone, with over 2,000 km of new high-speed railways and 8,000 km of expressways completed. Furthermore, 900 km of deep-water channels were opened, and 5 new civil airports were added to the national network. Passenger traffic also reached histo

The 2025 China Gaming Industry Report highlights an unprecedented milestone, with domestic sales revenue reaching 350.79 billion yuan (approx. $49.8 billion), marking a 7.68% annual increase. Presented at the annual industry conference in Shanghai, the report revealed that the user base expanded to 683 million, while mobile games maintained their dominance, accounting for 73.29% of the market share. Beyond borders, Chinese-developed games recorded a stellar performance, gener

The Hainan Free Trade Port (FTP), the world’s largest free trade zone by area, has officially launched a strategic initiative to develop carbon-free industrial parks. This landmark plan, issued by five provincial authorities including the Development and Reform Commission, aims for a phased transition toward zero emissions by integrating a diverse mix of renewables: wind, solar, biomass, and nuclear power. Central to this green transformation is the deployment of Carbon Captu

Gold prices reached an unprecedented milestone on Monday, trading above $4,400 per ounce for the first time. This surge represents a 68% increase within 2025, the sharpest annual rise since 1979. Analysts credit this rally to the anticipation of further interest rate cuts by the Federal Reserve in 2026 and the heightened demand for safe-haven assets. Adrian Ash , Research Director at BullionVault, noted that President Donald Trump's  tariff policies and geopolitical tensions

In a landmark shift for the nation's energy landscape, Japan is poised to greenlight the restart of the world’s largest nuclear power plant, Kashiwazaki-Kariwa, marking a pivotal recovery point nearly 15 years after the 2011 Fukushima disaster. Located 220 kilometers northwest of Tokyo, the facility had been mothballed alongside dozens of others following the catastrophic earthquake and tsunami that triggered a meltdown at Fukushima Daiichi. This restart, expected to be ratif

Bloomberg reports that the U.S. Navy has seized a third oil tanker, the "Bella 1" (flagged in Panama), near the Venezuelan coast. This move is part of President Donald Trump’s aggressive "total blockade" strategy aimed at crippling the main revenue source for Nicolás Maduro’s administration, which Washington has designated a foreign terrorist organization. The Seizure Sequence: Skipper, Centuries, and Bella 1 The "Bella 1" joins two other vessels intercepted in less than two

In a major move to streamline its digital economy, Chinese authorities issued on Saturday comprehensive rules to regulate pricing practices on internet platforms. Jointly drafted by the National Development and Reform Commission (NDRC), the market regulator, and the cyberspace administration, these rules aim to foster innovation while ensuring a transparent and healthy "platform ecosystem." Empowering Merchants and Ensuring Fair Competition The regulations provide clear dire

China’s offshore energy sector reached a new pinnacle as the China National Offshore Oil Corporation (CNOOC) announced on Sunday that the Bohai Oilfield produced over 40 million tonnes of oil equivalent in 2025. This record-breaking figure solidifies Bohai's position as the nation's premier offshore energy hub, providing a vital boost to China's national energy security and high-quality economic development. Steady Growth and Massive Reserves Currently operating more than 60

In a significant escalation of the economic standoff between the West and Moscow, Ukrainian officials have confirmed that the United States is intensifying pressure on European allies to utilize frozen Russian sovereign assets. The objective is clear: securing a sustainable financing mechanism for Kyiv's defense against Russian aggression, which the EU views as a direct threat to its collective security. Geographic Distribution of the €210 Billion Stakes The vast majority of

Chinese economist Huang Hanquan, President of the Academy of Macroeconomic Research, highlighted that the launch of island-wide special customs operations in Hainan marks a new era for China's economy. The port is transitioning into a diverse, high-quality global trade hub. 1. Major Customs and Tax Perks Zero Tariffs:  Duty-free tariff items are expected to cover nearly 70%  of total categories. Manufacturing Boost:  New rules providing customs waivers for value-added process

China's New Energy Vehicle (NEV) sales, including exports, are projected to reach 20 million units in 2026, with the total number of NEVs on the road exceeding 60 million. By 2030, this fleet is expected to surpass 120 million units, according to Zhang Yongwei, President of the "China EV100" research institute. 1. Domestic Market Growth Market Scale:  Domestic car sales in China are expected to grow by 2%, reaching 28.2 million units  in 2026 and hitting 30 million  by 2030.

The Chinese Ministry of Commerce announced on Tuesday that China will impose anti-dumping duties on imports of pork and related products from the European Union, effective starting tomorrow, Wednesday. 1. Decision Details and Duty Rates Effective Date:  The duties will come into effect this Wednesday. Rates:  EU companies will face duty rates ranging from 4.9% to 19.8% . Duration:  These measures will remain in place for a period of five years . 2. Investigation Context and F