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Oil Remains Above $100 as Iran Ceasefire Keeps War Premium Intact

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Global Commodities — Oil prices remained elevated on Wednesday despite slight declines, as investors continued to monitor the fragile ceasefire involving Iran and lingering geopolitical risks across the Middle East. West Texas Intermediate crude fell 0.66 percent to about $101.50 per barrel, while Brent crude slipped 0.35 percent to approximately $107.40 per barrel. Market analysts

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U.S. Wholesale Inflation Hits Highest Level Since 2022, Raising Rate Hike Fears

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U.S. Economy — Inflation concerns intensified on Wednesday after new data showed U.S. wholesale prices rising at their fastest pace in years, reinforcing fears that price pressures may remain stubbornly elevated across the American economy. The U.S. Producer Price Index (PPI), which tracks wholesale inflation, rose 6.0 percent year-over-year in April, significantly above market expectations

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Tech Rally Pushes S&P 500 to Record High Despite Inflation Concerns

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U.S. Markets — The S&P 500 reached a fresh intraday record high on Wednesday as strong investor appetite for technology stocks outweighed concerns over another hotter-than-expected U.S. inflation report. The benchmark index gained 0.7 percent, while the NASDAQ Composite advanced 1.4 percent, driven by continued momentum in artificial intelligence and semiconductor-related equities. In contrast, the

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Bayo Ogunlesi Commits about $500 Million Investment in South Africa

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Johannesburg— Nigerian billionaire and infrastructure investor Adebayo Ogunlesi has committed approximately $500 million (about R8.3 billion or ₦685 billion) in investment to South Africa, underscoring continued economic ties between Africa’s two largest economies despite recent diplomatic tensions. Ogunlesi, chairman and chief executive of Global Infrastructure Partners (GIP), is regarded as one of Africa’s most influential

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Nigeria Spends $11.6 Billion on Debt Servicing in 2026.

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Nairobi/Abuja — President Bola Ahmed Tinubu says Nigeria is projected to spend approximately $11.6 billion servicing debt obligations in 2026, a figure expected to consume nearly half of the country’s projected government revenue. Tinubu disclosed the figure while addressing the Africa Forward Summit in Nairobi, co-hosted by Kenyan President William Ruto and French President Emmanuel

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UN Chief, guterres hints on Africa’s Resource Exploitation

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United Nations Secretary-General António Guterres has called for a fundamental shift in how Africa’s natural resources are managed and monetised, warning against continued patterns of extraction that leave the continent with environmental damage while economic value is captured elsewhere. In remarks that have gained significant attention across policy and development circles, Guterres argued that Africa

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FCCPC Applauds Lagos Electricity Reforms, Intensifies Push Against Estimated Billing

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The Federal Competition and Consumer Protection Commission (FCCPC) has endorsed recent reforms by the Lagos State Electricity Regulatory Commission (LASERC) aimed at tackling estimated electricity billing and improving consumer protection within the power sector. In a statement released on Tuesday, the Commission praised LASERC for introducing what it described as consumer-focused enforcement measures designed to

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Palace Pressure and the Politics of Symbolism: Starmer Faces Defining Parliamentary Moment

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Political pressure is mounting around British Prime Minister Keir Starmer as reports emerge that Buckingham Palace has issued what sections of the British press describe as a subtle but pointed warning ahead of the highly anticipated King’s Speech. The controversy erupted after media headlines claimed that the Palace delivered a “six-word warning” to the embattled

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Uncertainty Deepens Over Source of Persistent Odour in Ado-Ekiti

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Ado-Ekiti — Uncertainty continues to surround the source of the lingering odour reported across parts of Ado-Ekiti, despite arrests, fumigation efforts, and ongoing investigations by the Ekiti State Government. Residents in several parts of the city say the choking smell — most noticeable during late-night and early-morning hours — has persisted for weeks, raising growing

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South Africa’s Highest Court Revives Impeachment Proceedings Against Ramaphosa Over Farm Cash Scandal

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Johannesburg — South Africa’s Constitutional Court of South Africa has revived impeachment proceedings against President Cyril Ramaphosa over the “Farmgate” scandal involving the theft of large sums of foreign currency hidden inside a sofa at his private farm. The ruling overturns aspects of Parliament’s earlier handling of the case and reopens scrutiny over one of

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