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Dollar Climbs Against Dong in International Markets
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On Friday morning, the U.S. dollar saw a slight increase against the Vietnamese dong and key currencies. At Vietcombank, the U.S. dollar was sold for VND26,160, marking an increase of 0.04% compared to Thursday’s rate. On the unofficial market, the dollar dropped by 0.13%, trading at VND26,475. The State Bank of Vietnam increased its…
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Dollar’s Rise Boosts Optimism, Pushes Won Below 1,400
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On May 9, the South Korean won depreciated beyond the 1,400 mark relative to the US dollar, marking its second consecutive day of gains as improved sentiment regarding reduced global trade frictions bolstered the American currency. The won started trading at 1,404.8 against each dollar, marking an increase of 8.2 won compared to the…
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NEPC and NBS Ink Pact for Enhanced Data Capture
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The Nigerian Export Promotion Council (NEPC) and the Nigerian Bureau of Statistics (NBS) have entered into an agreement through a Memorandum of Understanding (MoU) aimed at streamlining data gathering related to Informal Cross Border Trade. At the signing ceremony conducted in Abuja, Nigeria’s capital city, Nonye Ayeni, who serves as the executive director and…
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Revenue Reset: GRA Boosts Efforts to Enhance Tax Collection and Compliance
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The Ghana Revenue Authority (GRA) is intensifying its initiatives to improve tax collection and boost adherence to regulations, which supports the government’s larger plan to revitalize the country’s economy. Following this, Acting Commissioner-General Anthony Kwasi Sarpong has presented a detailed plan aimed at expanding the tax base, targeting a substantial revenue collection of GH¢200…
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Investors Demand Mentorship to Boost Kenya’s Startup Growth
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Participants in the startup community are urging seasoned business owners to share their accumulated wisdom and expertise with emerging entrepreneurs, aiming to foster the long-term development of the nation’s startups. Data from the Kenya National Bureau of Statistics indicates that almost 500,000 new businesses cease operations within their initial year, largely because of factors…
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Rwanda and UAE Company Ink Deal for Printing and Manufacturing
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Rwanda and E7 Group, which is part of ADQ—a sovereign wealth fund located in Abu Dhabi, United Arab Emirates, with expertise in secure printing—have entered into an agreement. This pact aims to facilitate the creation of a production plant within Rwanda’s borders. The framework agreement was signed on May 8 by the Rwanda Development…
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Lagos Targets 39 Structures for Demolition: Eviction Notices Issued
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The Lagos State Government has identified at least 39 structures situated within two upscale neighborhoods for teardown due to Right of Way requirements along the Ikota Riverbank in the Eti-OsaLocalGovernmentArea. The Ikota area falls under theMarokoOkunAlfaward,intheLekkisectorofthecity. This follows the issuance of indefinite eviction notices by the state government to those impacted, allowing them time…
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VFD Shareholders Greenlight $8.2M Dividend Payout
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The shareholders of VFD Group Plc have sanctioned a dividend distribution of N3.17 billion during the firm’s 9th Annual General Meeting, which was conducted online in Lagos on Thursday. The sanctioned dividend amounts to N2.50 for each share. Furthermore, the shareholders agreed to a five-to-one stock dividend distribution, which the firm states exemplifies their…
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PWAN Rejects SEC’s Ponzi Scheme Allegations
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The management of PWAN Group has denied allegations by the Securities and Exchange Commission that its real estate buy-back transactions bear the characteristics of a Ponzi scheme. In a statement provided to our correspondent by the firm on Thursday, PWAN characterized the SEC’s stance as “incorrect and deceptive,” underscoring that their project constitutes a…
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Digital Skills Empowerment Summit: Firm Announces Key Business Initiatives
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Marketing Analytics Africa has unveiled intentions to organize a marketing conference aimed at providing African businesses and advertisers with advanced tactics in digital marketing, expansive development, and new technological advancements. The event titled ‘Marketing in the New Economy: Leveraging Data for Success Amidst Challenges’ is scheduled to take place on May 24 in Lagos,…