Business

Nigeria will start reforming its oil industry using existing laws before it can pass a long-awaited Petroleum Industry Bill (PIB), which will take a while to fine-tine, the new head of the state-oil company NNPC said on Tuesday. Emmanuel Kachikwu,...

China's central bank cut interest rates and lowered the amount of reserves banks must hold for the second time in two months on Tuesday, ratcheting up support for a stuttering economy and a plunging stock market that has sent...

The U.N. nuclear watchdog said on Tuesday it will run out of money next month to monitor implementation of nuclear accords with Tehran and asked countries to increase funding the costs of its Iran work, which will rise to...

China has cut its main interest rate to boost growth in its economy. The People's Bank of China cut its main interest rate by 0.25 percentage points to 4.6% after two days of stock market turmoil. It is the fifth interest...

Stocks, oil prices and safe-haven bond yields rose on Tuesday as a tentative market rebound picked up pace after China cut interest rates and banks' reserve requirements to kick-start its wavering economy. The dollar motored ahead against most major currencies,...

South Africa's currency has fallen to an all-time low against the US dollar. It briefly hit a rate of 14 to the dollar amid concerns about the strength of the Chinese economy, reports the Reuters news agency. Economies that rely on...

Wall Street opened sharply lower on Monday with the Dow Jones industrial average losing more than a 1,000 points following a more-than 8 percent drop in Chinese shares and a selloff in oil and other commodities. The Dow has never...

Iran's Oil Minister, Bijan Zanganeh, said on Sunday that holding an emergency OPEC meeting may be "effective" in stabilizing the oil price, Iran's oil ministry news agency Shana reported. Algeria said earlier this month that the Organization of Petroleum Exporting...

BT Group Plc's (BT.L) Americas unit president has called on the United States to require that telecoms rivals allow access to their networks at regulated prices, the Financial Times reported Sunday. Bas Burger, president of the British provider's Americas operation,...

SAN FRANCISCO, August 21, (THEWILL) – Nigeria’s naira has sustained the gains recorded this week, edging higher on Friday against the U.S dollar at the parallel market -- N208 / $1 -- having traded at N223 on Monday and...