Economy

HSBC Holdings Plc (HSBA) has announced that its UK subsidiary, HSBC UK Bank, will acquire Silicon Valley Bank UK for £1 ($1.21). The deal, described as a strategic acquisition to strengthen HSBC’s banking franchise in the...

By John Ikani In what appears to be a reversal of its earlier position, the Central Bank of Nigeria (CBN) has directed commercial banks to dispense old currency notes and receive them as deposits from customers....

By Enyichukwu Enemanna Seychelles has become the first country on the African continent and the third among the member nations formally accept the World Trade Organisation's (WTO) agreement on fishery subsidies. The country on Friday deposited...

By Oyintari Ben LONDON/FRANKFURT- On Friday, a spectacular sell-off in U.S. bank stocks spread to Europe, sending some of the biggest banks in the continent's stock prices plummeting to their lowest levels in nine months. As...

By John Ikani Britain has announced plans to ease visa access in a bid to address its current labour shortages. The shortage has been partially attributed to the country's stricter immigration rules, following its departure from...

By John Ikani Kenya's Trade Minister Moses Kuria, has admitted that the current dollar shortage in the country has surpassed the government's control. While addressing MPs, Mr. Kuria, acknowledged that the shortage was a global issue,...