Pennsylvania, U.S. – US President Joe Biden has vetoed the proposed $14.9-billion acquisition of United States Steel Corporation (US Steel) by Japan’s Nippon Steel, citing national security concerns and potential risks to critical supply chains. The proposed buyout, which was approved by US Steel’s board, aimed to help the second-largest US steelmaker contend with rising…
Calabar, Nigeria – The $350 million Grand Litora Railway project, aimed at connecting all major cities in Cross River State, Nigeria, achieved a significant milestone with the unveiling of the topographical mapping for the initial 104km Calabar-Ugep route. The presentation occurred on Friday, December 20, 2024, at Tinapa Free Zone Resort, underscoring Cross River State’s…
Lagos, Nigeria – The naira commenced the new year trading at relatively stable rates across various foreign exchange (FX) markets, reflecting a mixed but steady performance as observed on Thursday. At the official market, also known as the Nigerian Foreign Exchange Market (NFEM), the naira opened at N1,538.50 to the dollar, according to data from…
By Thomas Fazi The European energy market is on the brink of another shock. Despite the war in Ukraine, over the past three years, Russian gas has continued to flow to Europe — mainly to Slovakia, Hungary, Austria and Italy — through a pipeline via Ukraine. Even though the share of Ukrainian transit in EU…
Lagos, Nigeria – The Chairman of Air Peace, Allen Onyema, has openly accepted the sanctions imposed on his airline by the Nigerian Civil Aviation Authority (NCAA) for breaches of consumer protection regulations. This development follows enforcement actions initiated by the NCAA against five airlines, including Air Peace, for violating provisions outlined in Part 19 of…
Calabar, Nigeria – The Government of Cross River State has suspended all traffic enforcement activities for the yuletide across the state. Converseer learned that the suspension which is for three weeks spans from 23rd December 2024 to 13th January 2025. According to a press release signed by Commander Bassey Okokon, Public Relations Officer of the…
Port Harcourt, Nigeria – The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that the price of petrol will be reduced to ₦935 per litre by Monday due to a new arrangement by Dangote Refinery. IPMAN National President, Maigandi Garima, revealed this in an interview on Sunday, citing a reduction in Dangote Refinery’s ex-depot…
Port Harcourt, Nigeria – Operations at the Port Harcourt Refining Company have come to a halt less than a month after it appeared to resume production. The facility, which underwent a $1.5 billion rehabilitation, is no longer lifting Premium Motor Spirit (PMS), commonly known as petrol. PUNCH reported that a visit to the refinery on…
Berlin, Germany – German Chancellor Olaf Scholz on Friday said freedom of opinion “also applies to multi-billionaires,” after Elon Musk said that only the far-right Alternative for Germany (AfD) can ‘save’ the country. At a press conference in Berlin, Scholz told reporters that “freedom of opinion also means that you can say things that are…
New York, U.S. – CNN’s Jim Acosta and Brian Stelter held a struggle session after Elon Musk shut down the funding bill yesterday on X. The two men, who are frequently accused of spreading fake news, said Musk was the one sharing “misinformation.” The pair also fumed as were forced to admit how influential X…