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World Business

A business, also known as an enterprise or a firm, is an organization involved in the trade of goods, services, or both to consumers.

Inflation slump to hit in early 2018: ECB

FRANKFURT: Inflation in the eurozone will slump in early 2018, the European Central Bank forecast Monday, but return to an upward path towards its target later in the year. Price growth could fall as low as 0.9 percent in the first quarter, the ECB said in its regular economic bulletin, far short of governors’ target of just below 2.0 percent.  ... Read More »

Customs at PH rakes in N2.98bn, surpasses revenue target

ABUJA: The Nigeria Customs Service, NCS, Area 1 Command Port Harcourt, has realised N2.98billion in its revenue generation for the month of August, 2017. The Command also surpassed its revenue target in the same period with N300million. The Customs Area Controller, CAC, of the Command, Comptroller Kabiru. Isiyaku, disclosed this in a document signed and made available to Vanguard by ... Read More »

New Jersey unemployment rate climbs to 4.5%

TRENTON: New data shows New Jersey added 200 jobs in August and the unemployment rate rose to 4.5 percent from 4.2 percent in July. The Labor and Workforce Development Department called the additions “modest.” The state rate has inched above the federal figure for the first time since December, when both stood at 4.7 percent. Bureau of Labor Statistics preliminary ... Read More »

Customs generates N163m from e-auction bidding

ABUJA: The Nigeria Customs Service says it has generated N163 million from its e-auction bidding process, according to the service Public Relations Officer, Mr Joseph Attah. Attah told newsmen on Wednesday in Abuja, that the 11th window of the process was ongoing. The Comptroller-General of Customs, retired Col. Hameed Ali on July 3, inaugurated the e-auction platform aimed at giving ... Read More »

Dangote earns US$86m in revenues from Ethiopia

WASHINGTON: Dangote Cement earned revenues of more than US$85.8m from its plant in Ethiopia in the financial year that ended 8 July. Export volumes of more than 2Mt contributed significantly to sales revenues, including some US$1m from export sales to Kenya and Djibouti, according to Tariku Alemayehu, Dangote Cement’s deputy director of sales and marketing. Dangote Cement’s plant is located ... Read More »

Nevada unemployment rate in August bounces up to 4.9%

CARSON CITY:  State officials say growth in the workforce may be behind a slight increase in the Nevada statewide jobless rate in August, to 4.9 percent. The Nevada Department of Employment, Training and Rehabilitation said Wednesday the uptick of one-tenth of a percentage point since July puts the unemployment figure back to February levels. The jobless rate bottomed out at ... Read More »

Customs nets N2.98bn at Port Harcourt area 1 command

LAGOS: The Port Harcourt Area 1 Command of the Nigeria Customs Service (NCS), said that it generated N2.98 billion into the Federal Government coffers in August this year. The command also disclosed that the amount surpassed the monthly revenue target with N300 million for the month under review. Ngozi Okwara, Command’s Public Relations Officer (PRO) in a statement said that ... Read More »

West Virginia unemployment rate increases in August

CHARLESTON:  West Virginia’s unemployment rate increased to 5 percent in August, with the largest decrease in employment in trade, transportation and utility industries. Total unemployment is down 7,500 over the last year. The national average in August was 4.4 percent. Employment increased by 2,600 employees in mining and logging; 1,100 in construction; 600 in financial activities; and 4,400 in educational ... Read More »

Nigeria Customs impounds 1,100 pump action rifles again

ABUJA: The Tin-Can Island Command of the Nigeria Customs Service (NCS) has intercepted 1,100 rifles which were imported into the country from Turkey under false declaration. The Comptroller-General of NCS, Retired Col. Hameed Ali, told journalists in Lagos on Monday that the seizure was the third interception of ammunition at Lagos ports within nine months. “As you may already be ... Read More »

Kazakh banking sector revenues drop 40% in 2017

ASTANA: Total Kazakh banking sector revenues decreased almost 40 percent compared to last year, however, banks also reduced expenses and increased revenues from core activities, according to  In January to July, the revenues of the country’s banking sector decreased to 17.8 trillion tenge (US$52.7 billion) compared to the same period of last year, when the revenues of banks increased ... Read More »

Romania’s inflation rate drops to 1.2% in August

WASHINGTON: Romania’s annual inflation stood at 1.2 percent in August, down 0.22 percentage points compared to the previous month, according to the National Institute of Statistics (INS). “The consumption prices in August 2017 rose by 1.2 percent compared to August 2016. The average rate of the consumption prices in the last 12 months (September 2016 – August 2017) versus the ... Read More »

Egypt inflation dips in August from record highs

CAIRO: Egypt’s key inflation indicators dropped in August from the multi-decade highs they reached in July, when energy prices were raised as part of International Monetary Fund-backed reforms. Annual urban consumer price inflation dipped to 31.9 percent year-on-year in August from 33.0 percent in July, the official CAPMAS statistics agency said on Sunday. Core inflation, which strips out volatile items ... Read More »

Ontario’s unemployment rate fell to 5.7% in August

WASHINGTON: Employment in Ontario increased by 31,100 in August, the second straight month of job growth,and the unemployment rate fell to 5.7 per cent, the lowest level since January 2001. Employment in Ontario was up 107,200 in the first eight months of 2017, compared to the first eight months of 2016. The province’s unemployment rate has been below the national ... Read More »

Malta Customs destroys 12 mln black market cigarettes

VALLETTA: A campaign being run by the Customs Department against the import, sale and consumption of smuggled goods, in particular tobacco products and wine goes on. Over the last two weeks, almost 6,000 cigarettes, of which 2,800 were intercepted at the airport before entering the country, 13 cartons, of 200 cigarettes each were seized when a crew member of a ... Read More »

Tin-can Customs improves revenue by 17%

ABUJA: The Tin-can Island Command of the Nigeria Customs Service, NCS, has increased their revenue by 17.3 percent as they collected N183 billion between January and August this year, as against N156 billion collected during the same period last year. The highest collection by the Command during the period was N28 billion, which was recorded in August. Customs Area Controller, ... Read More »

Customs delists 197 bidders from e-auction

ABUJA: Owing to bogus bidding in the ongoing e-auction exercise of the Nigeria Customs Service (NCS), it has delisted 197 Tax Identification Numbers (TIN) of fraudulent bidders from the platform. The Public Relations Officer (PRO), Mr. Joseph Attah disclosed this to The Nation in his officer at Abuja Tuesday. He said that the NCS has generated N161, 194,908 into the ... Read More »

Austin sales tax revenue lower than expected

WASHINGTON: City Council has known for months that it would struggle to come up with the money needed to cover many of the programs its members hope to put in place in the coming year. However, the most recent data on sales tax revenue suggests things might be even worse than anticipated. In June, the most recent month available for ... Read More »

Nigerians paid N2.11trn tax in seven months

ABUJA: The federal Inland Revenue service (FIRS) says it generated a sum of N2.11 trillion as revenue from January to July 2017. NAN reports that the service made this known in a progress report of the FIRS from January to July 2017, showing their revenue performance and impact of the new tax regime. A breakdown of the report showed that ... Read More »

Michigan unemployment lowest since 2000, less people in workforce

WASHINGTON: On this Labor Day the state of Michigan sits at its lowest unemployment rate since the year 2000, but that number is slightly deceptive. It’s because less people are looking for jobs. That’s according to the Michigan League for Public Policy, which also says the Michigan work force is getting older and older with fewer young people joining in. ... Read More »

Mexico’s August inflation seen highest in 16 years

MEXICO CITY: Mexico’s annual inflation is expected to accelerate to its highest level in more than 16 years, according to a Reuters poll ahead of August data set to be released later this week. The price spike is expected to be driven by increases for educational services, gasoline, natural gas and agricultural products, according to the poll. A survey of ... Read More »