Finance

The IMF may be considering Nigeria's $3.4 billion request

IMF approves $3.4 billion for Nigeria’s emergency funding despite warnings of a recession

The International Monetary Fund (IMF) yesterday approved Nigeria’s $3.4 billion emergency loan request to assist the country tackle the impact of the coronavirus (COVID-19) pandemic. The loan, to be repaid within five years, is the largest allocation yet by the IMF to an African country’s bid to contain the pandemic. Hit by crashing oil prices […]

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Samsung warns of second-quarter profit fall as coronavirus hits sales of phones, TVs

SEOUL (Reuters) – Samsung Electronics Co Ltd (005930.KS) said on Wednesday it expected profit to decline in the current quarter due to a coronavirus-related slump in sales of smartphones and TVs, although the chip business would remain solid. The South Korean conglomerate joined other tech giants such as SK Hynix (000660.KS) and Intel (INTC.O) in […]

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papua new guinea refuses to extend mining license to chinese.

Papua New Guinea: Zijin warns Papua New Guinea of Chinese anger over end of gold mine lease

SINGAPORE/BEIJING, April 29 (Reuters) – China’s Zijin Mining has warned Papua New Guinea that its failure to renew the lease of a gold mine it jointly owns with Barrick Gold Corp there could damage bilateral relations. Papua New Guinea on Friday said it would not renew a 20-year mining lease at its Porgera gold mine, […]

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Gold ticks up on weaker dollar; Fed decision awaited

(Reuters) – Gold prices inched higher on Wednesday as the dollar weakened amid plans to ease major economies out of coronavirus lockdowns, while investors awaited any forward guidance from the U.S. Federal Reserve’s policy statement due later in the day. FUNDAMENTALS Spot gold rose 0.1% to $1,708.53 per ounce by 0126 GMT. U.S. gold futures […]

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