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Pound hits highest level since its crash after 2016 Brexit vote
business

Pound hits highest level since its crash after 2016 Brexit vote

Ten-year high shows sterling’s strength against other currencies following fall of dollar after US midterm elections Business live – latest updates The pound has hit its highest level since its crash in the wake of the Brexit referendum a decade ago. Data released by the Bank of England on Thursday showed that the pound reached its strongest level against a basket of other currencies since 23 June 2016 – the day of the EU vote – on Wednesday.

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South West Water’s failure to fix leaks ‘putting customer supplies at risk’
business

South West Water’s failure to fix leaks ‘putting customer supplies at risk’

With parts of region served by company in severe drought still, regulators give it six weeks to come up with action plan Repeated failures by South West Water to tackle leaks are putting customers at higher risks of losing water supplies as parts of the region remain in severe drought, regulators have said. In a warning to the privatised company that serves 1.8 million people across the south-west of England, the regulators said it had been failing to meet targets to reduce leaks and repair burst pipes for seven years.

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Jinapor calls for Africa to develop solar value chain to boost energy security
business

Jinapor calls for Africa to develop solar value chain to boost energy security

The Minister for Energy and Green Transition, Dr John Jinapor, has called on African countries to harness their solar energy potential to strengthen energy security, reduce dependence on imported fuels and drive industrialisation. Dr Jinapor noted that Africa’s abundant sunshine presents an opportunity to build resilient economies and reduce the continent’s exposure to external energy shocks.

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IMF flags delayed ECG collection accounts audit, urges timely reforms
business

IMF flags delayed ECG collection accounts audit, urges timely reforms

The International Monetary Fund (IMF) has flagged Ghana’s delayed publication of an audit of the Electricity Company of Ghana’s collection accounts. The IMF raised the concern in a statement issued Thursday after an IMF mission concluded discussions on the first review of Ghana’s Policy Coordination Instrument (PCI).

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Ghana meets most PCI targets, but risks remain – IMF
business

Ghana meets most PCI targets, but risks remain – IMF

The International Monetary Fund (IMF) has described Ghana’s performance under its Policy Coordination Instrument (PCI) programme as broadly satisfactory, with most quantitative targets met. Fiscal and banking sector reforms The IMF reported that reforms to the Bank of Ghana’s liquidity management framework were advancing.

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Crude oil to average $79 per barrel in 2027 – World Bank
business

Crude oil to average $79 per barrel in 2027 – World Bank

Crude oil is expected to average $79.0 per barrel in 2027, the October 2026 Commodity Prices Outlook has revealed. Modest increases in oil output in advanced economies, such as Canada and the United States, as well as in Latin America and the Caribbean, are on track to offset only a small share of very large production losses in the Middle East.

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Illicit cigarette trade costs Kenya Sh47bn in lost tax revenue, study finds
business

Illicit cigarette trade costs Kenya Sh47bn in lost tax revenue, study finds

NAIROBI, Kenya Nov 5 – Almost half of cigarettes consumed in Kenya are illicit, with the trade costing the Government an estimated Sh47 billion in lost excise duty and VAT between 2021 and 2025, according to a Kantar study commissioned by BAT Kenya. Commenting on the findings, BAT Kenya Managing Director Sidney Wafula called for sustained government action to tackle the illicit trade, including stronger border controls, faster investigations and prosecutions, and deterrent penalties.

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Oil Prices Drop After Trump’s Election Rout
business

Oil Prices Drop After Trump’s Election Rout

The dollar and oil prices dropped on Wednesday as traders digested President Donald Trump’s heavy defeat in US midterm elections that saw his Republican party lose control of Congress. UP 1.2 percent at 10,765.27 points Paris – CAC 40: UP 1.5 percent at 8,137.66 Frankfurt – DAX: UP 1.5 percent at 26,249.32 Tokyo – Nikkei 225:

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FG lists 5 digital banks Nigerians can use to access N50,000 monthly cash support
business

FG lists 5 digital banks Nigerians can use to access N50,000 monthly cash support

According to information published on the NERSI website, beneficiaries can access their funds through ALAT by Wema Bank, MoMo PSB, NairaGram, OPay and Moniepoint. According to the programme’s guidelines, genuine messages will only come from ALAT, MoMo, NairaGram, OPay or Moniepoint and will only require beneficiaries to reply YES or dial their payment provider’s designated USSD code.

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From sea to market: How mussels sustain livelihoods along Thiruvananthapuram’s shore
business

From sea to market: How mussels sustain livelihoods along Thiruvananthapuram’s shore

In Thiruvananthapuram’s rocky coastal belt, mussel harvesting peaks between September and February, pushing the shellfish from rocky shores into bustling city markets and restaurants. The mussels, harvested from Vizhinjam, Kovalam, Azhimala, Poonthura and Muthalappozhi, among other nearshore hamlets in the Keralam capital, fetch up to ₹15,000 in auctions, sustaining a community of divers whose livelihood depend on the sea and its seasonal bounty.

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FinTribe brings women, financial experts together to promote wealth creation
business

FinTribe brings women, financial experts together to promote wealth creation

By Esther Onyegbula Women, financial experts, investment professionals and industry stakeholders converged at the 2026 FinTribe Finance Fair to explore investment opportunities, promote financial literacy and advance women’s participation in wealth creation. In his remarks, Chief Executive Officer of NGX Regulation Limited, Mr Olufemi Shobajo, commended FinTribe for sustaining conversations around financial inclusion, investor education and the development of Nigeria’s financial ecosystem.

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Banks’ deposits with CBN fall 87% to N1.22trn
business

Banks’ deposits with CBN fall 87% to N1.22trn

•As borrowings drop 98% By Elizabeth Adegbesan Banks’ deposits with the Central Bank of Nigeria (CBN) through the Standing Deposit Facility (SDF) fell by 87 per cent month-on-month to N1.22 trillion in October 2026 from N9.4 trillion in September. Under the SLF, the apex bank provides liquidity to banks at an interest rate above the Monetary Policy Rate (MPR).

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business

GNI overhauls claims operations, clears N3bn claims

In a decisive move to reclaim its market position and confidence, Great Nigeria Insurance Plc, GNI, has undertaken a comprehensive overhaul of its claims operations, clearing over N3 billion in claims. Meanwhile, GNI hosted two strategic brokers’ fora themed “GNI Reloaded” in Ibadan and Lagos to formalize this operational shift and rebuild crucial trade channels, given that insurance brokers facilitate a significant percentage of commercial and institutional policies in Nigeria.

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