IMF Says China’s State-Led Growth Model Is Hurting Other Economies, Calls for Subsidy Cuts
The International Monetary Fund (IMF) has issued a pointed warning over China’s state-led growth strategy, arguing that heavy industrial subsidies, debt-fueled investment, and weak domestic consumption are distorting the world’s second-largest economy and generating harmful spillovers abroad. In a Feb. 18 report concluding its latest Article IV consultation with China, the IMF estimated that Beijing […]
Investors Pivot to Hard Assets Amid AI Disruption Concerns
Concerns that artificial intelligence (AI) could render traditional digital service models obsolete are driving a pronounced market rotation in 2026, as investors rebalance portfolios toward hard assets and companies perceived as less vulnerable to technological disruption. After more than two years of enthusiasm for AI-linked growth stocks, capital is shifting away from enterprise software and […]
Amazon Overtakes Walmart to Become World’s Top Retailer by Sales in 2025
In a historic shift atop the global retail industry, Amazon surpassed Walmart in annual sales for the first time, according to year-end filings released Feb. 19. Amazon reported $716.9 billion in revenue for 2025, edging past Walmart’s $713.2 billion. The milestone marks a significant turning point in the evolution of global retail, underscoring the accelerating […]
28 ships laden with petroleum, other commodities set to arrive Lagos ports
Twenty-eight cargo vessels loaded with petroleum products and other goods are scheduled to arrive at Lagos ports between February 19 and 28, according to the Nigerian Ports Authority. The shipments are expected across Apapa Port, Tin Can Island Port, and Lekki Deep Sea Port as maritime activities intensify. The authority said 20 of the incoming […]
Johnson & Johnson to Invest $1 Billion in New Pennsylvania Cell Therapy Manufacturing Facility, Creating 500+ Jobs
Johnson & Johnson announced Feb. 18 that it will invest more than $1 billion to build a next-generation cell therapy manufacturing facility in Montgomery County, Pennsylvania, expanding its U.S. production capacity for advanced treatments targeting cancer and neurological and immune-related diseases. The new site, to be operated by subsidiary Janssen Biotech, will be located in […]
Meta CEO Mark Zuckerberg Testifies in Landmark Social Media Addiction Trial in Los Angeles
LOS ANGELES — Meta Platforms, Inc. Chief Executive Officer Mark Zuckerberg took the stand Wednesday in a closely watched social media addiction trial at the Los Angeles Superior Court, responding to allegations that the company engineered its platforms to maximize engagement among children despite awareness of potential mental health harms. The case centers on a […]
Naira records mixed sentiments against US dollar across official, black markets
The Nigerian Naira recorded mixed trends against the US dollar on Wednesday, with fluctuations observed across both official and parallel markets. While some windows showed slight gains, others experienced minor declines, reflecting market uncertainty. At the official interbank rate, the Naira remained relatively stable, trading within narrow margins, while the black market exhibited higher volatility […]
Trump Announces $36 Billion in Initial Projects Under $550 Billion U.S.–Japan Trade Deal
WASHINGTON—President Donald Trump on Feb. 17 announced the launch of three major infrastructure and energy projects totaling $36 billion, marking the first phase of a broader U.S.–Japan trade agreement that includes a $550 billion Japanese investment commitment to American manufacturing and energy development. In a post on Truth Social, Trump said the projects represent the […]
Gateway Mortgage Bank Limited secures ₦2.2bn MOFI fund to boost home ownership
Gateway Mortgage Bank Limited has secured ₦2.2 billion from the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF) to support home ownership and mortgage access in Nigeria. The bank has begun disbursing funds to qualified applicants under the initiative. Acting Managing Director Ronke Akinleye said the fund targets individuals seeking structured mortgage financing, making […]
NEM Insurance bolsters women empowerment with ‘She Means Business’ 3.0
NEM Insurance Plc has launched the third edition of its ‘She Means Business’ contest, aimed at empowering female entrepreneurs across Nigeria. The initiative opened on February 16, 2026, and closes February 28, 2026, encouraging women to showcase their business ideas. Mrs. Mojisola Teluwo, General Manager of Corporate Services, said three outstanding participants will receive ₦250,000 […]