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- April 9, 2025
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Tariff war: China’s central bank orders state banks to reduce US dollar purchases
China’s Central Bank has said it will not allow a significant decline of the yuan. This is even as the apex bank urged major state-owned banks to scale back US dollar purchases. Reuters reports that the bank sent the new guidance to state banks this week, urging them to withhold US dollar purchases for their
Tariff war: China’s central bank orders state banks to reduce US dollar purchases
China’s Central Bank has said it will not allow a significant decline of the yuan.
This is even as the apex bank urged major state-owned banks to scale back US dollar purchases.
Reuters reports that the bank sent the new guidance to state banks this week, urging them to withhold US dollar purchases for their proprietary accounts.
Major banks were also told to step up checks when executing dollar purchase orders for clients, in a move markets view as a way for the central bank to curb speculative trades, the outlet reported.
The order from the central bank comes as the yuan faces heavy downward pressure amid aggressive tariffs on Chinese goods exported to the US
China’s large state banks were seen selling dollars and purchasing yuan aggressively to slow the pace of yuan declines in the onshore spot market on Wednesday, according to the outlet.
Reuters, however, reported that China’s central bank will not resort to yuan devaluation to cushion the blow from tariffs on exports and the overall economy,
Tariff war: China’s central bank orders state banks to reduce US dollar purchases
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- April 9, 2025
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Russian drones strike 3 Ukrainian cities, injure 22
Russian forces late on Tuesday launched huge drone attacks on eastern Ukraine, triggering fires and injuring no fewer than 22 people. In the Donetsk region – the focal point of the 1,000-km front line in the more than three-year-old war – a residential area came under attack in the city of Kramatorsk and local officials
Russian drones strike 3 Ukrainian cities, injure 22
Russian forces late on Tuesday launched huge drone attacks on eastern Ukraine, triggering fires and injuring no fewer than 22 people.
In the Donetsk region – the focal point of the 1,000-km front line in the more than three-year-old war – a residential area came under attack in the city of Kramatorsk and local officials said three people, including a child, were injured.
The Ukrainian air force said that it repelled 32 out of 55 drones launched by Russia overnight, stating that another eight did not reach their targets, most likely because of electronic countermeasures.
It did not specify what happened to the remaining 15 drones.
Governor Serhiy Lysak of Dnipropetrovsk region said on Telegram that the attack on Dnipro in southeastern Ukraine sparked a fire, damaged houses and cars and injured 15 people.
Lysak said that half of the injured were in hospital and one woman was in serious condition, adding that the attack damaged four high-rise residential buildings and 15 private residences, in addition to an administrative building and infrastructure.
In the northeastern city of Kharkiv – hit by drone attacks nearly every evening over the past week – Mayor Ihor Terekhov said there had been more than 20 strikes.
“This is our enemy’s new tactic to frighten the civilians. This (the attacked objects) is civilian infrastructure of the city, these are production enterprises, these are Kharkiv’s businessmen. Of course, they are scared,” Terekhov said.
Russian drones strike 3 Ukrainian cities, injure 22
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- April 9, 2025
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Renewed Israeli strikes kill 20 in Gaza, ceasefire talks stall
Gaza’s civil defence agency said an Israeli strike on a residential building in the Shujaiya area of Gaza City killed at least 20 people on Wednesday, as the military said they were looking into the attack. The agency’s spokesman, Mahmud Bassal told AFP the strike resulted in “20 martyrs and more than 40 injured” and
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Gaza’s civil defence agency said an Israeli strike on a residential building in the Shujaiya area of Gaza City killed at least 20 people on Wednesday, as the military said they were looking into the attack. The agency’s spokesman, Mahmud Bassal told AFP the strike resulted in “20 martyrs and more than 40 injured” and
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- April 9, 2025
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Pascal Dozie wrote his name in gold, Otti mourns
The Governor, Abia State. Alex Otti has described the death of the Founder, Diamond Bank Plc, Dr Pascal Dozie, as a huge loss to the nation. Otti said in a statement by his media aide, Ferdinand Ekeoma, on Wednesday in Umuahia, that Dozie was a renowned entrepreneur and icon in the banking industry. It would
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The Governor, Abia State. Alex Otti has described the death of the Founder, Diamond Bank Plc, Dr Pascal Dozie, as a huge loss to the nation. Otti said in a statement by his media aide, Ferdinand Ekeoma, on Wednesday in Umuahia, that Dozie was a renowned entrepreneur and icon in the banking industry. It would
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- April 9, 2025
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Two women drown in Kano pond
The Kano State Fire Service has confirmed that two women lost their lives in a pond in the Gezawa Local Government Area of the state. The Public Relations Officer of the service, Saminu Abdullahi, made this known in a statement in Kano on Wednesday. ”We received a distress call on Tuesday morning at about 11:15a.m.
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The Kano State Fire Service has confirmed that two women lost their lives in a pond in the Gezawa Local Government Area of the state. The Public Relations Officer of the service, Saminu Abdullahi, made this known in a statement in Kano on Wednesday. ”We received a distress call on Tuesday morning at about 11:15a.m.
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- April 9, 2025
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Eating, drinking, smoking while driving could land you in jail – LASTMA
The Lagos State Traffic Management Authority has warned motorists that eating, drinking or smoking while driving could attract jail terms. LASTMA stated that smoking, eating or drinking while driving is a punishable offence under the Lagos State Transport Sector Reform Law of 2018. This was disclosed in a post shared on its official X handle
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The Lagos State Traffic Management Authority has warned motorists that eating, drinking or smoking while driving could attract jail terms. LASTMA stated that smoking, eating or drinking while driving is a punishable offence under the Lagos State Transport Sector Reform Law of 2018. This was disclosed in a post shared on its official X handle
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- April 9, 2025
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We’re ending Biden, Obama’s war – Trump signs executive orders to boost coal industry
United States President Donald Trump on Tuesday signed four executive actions aimed at reversing policies that transitioned the US away from coal production and aimed at boosting the country’s “beautiful clean coal industry”. Trump, speaking in the White House East Room, said the current US government administration is ending the ‘war’ former presidents Barack Obama
We’re ending Biden, Obama’s war – Trump signs executive orders to boost coal industry
United States President Donald Trump on Tuesday signed four executive actions aimed at reversing policies that transitioned the US away from coal production and aimed at boosting the country’s “beautiful clean coal industry”.
Trump, speaking in the White House East Room, said the current US government administration is ending the ‘war’ former presidents Barack Obama and Joe Biden created in the coal industry.
The Republican also said his administration is working through the legalities of making it difficult for companies in US to shut down coal plants.
He said: “We are ending Joe Biden’s war on beautiful, clean coal once and for all. And it was not just Biden, it was [Barack] Obama, and there were others.
“But we are doing the exact opposite. And all those plants that have been closed are going to be opened.”
Meanwhile, another executive order Trump signed on Tuesday is meant to promote grid reliability, including by using fossil fuels.
We’re ending Biden, Obama’s war – Trump signs executive orders to boost coal industry
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- April 9, 2025
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US tariffs: Madagascar risks losing 60,000 textile jobs
Madagascar is at the verge of losing around 60,000 textile sector jobs due to the US President Donald Trump’s 47% tariff on the country. According to the formula used to calculate the latest US tariffs, low-income countries like Madagascar which import small quantities of US goods faced some of the highest tax rates. A 2023
US tariffs: Madagascar risks losing 60,000 textile jobs
Madagascar is at the verge of losing around 60,000 textile sector jobs due to the US President Donald Trump’s 47% tariff on the country.
According to the formula used to calculate the latest US tariffs, low-income countries like Madagascar which import small quantities of US goods faced some of the highest tax rates.
A 2023 report by the International Labour Organization, ILO, disclosed that Madagascar’s textile and clothing sector employs around 180,000 people and accounts for around one-fifth of the country’s gross domestic product.
DAILY POST reports that the country of 31 million people exported $733 million in goods to the US in 2024, much of that under the African Growth and Opportunity Act, AGOA, which granted duty-free access to the US market for many goods produced in Africa.
The executive director of an industry lobby group, Rindra Andriamahefa, said in a statement late on Tuesday that they estimate that around 60,000 jobs will be affected by the decision to raise tariffs to 47%, referring to permanent and temporary job losses.
The president of the lobby group, the Groupement des Entreprises Franches et Partenaires, GEFP, Beatrice Chan Ching Yiu, said investors would turn to exporting countries which face only the minimum 10% tariff imposed by the Trump administration.
“The pandemic was one thing. What we are facing now is quite another. Unfortunately, measures such as temporary layoffs or dismissals may prove unavoidable,” Ching Yiu said.
Madagascar’s government has reportedly begun consulting other African countries adversely affected by the tariffs to coordinate a common position.
“A constructive bilateral dialogue with U.S. authorities is underway, including technical discussions aimed at understanding the rationale behind the decision,” the foreign affairs ministry said in a statement on Tuesday.
US tariffs: Madagascar risks losing 60,000 textile jobs
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- April 9, 2025
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Israeli strike kills 26 people in Gaza City house
An Israeli airstrike on Wednesday killed no fewer than 26 Palestinians, including children, in a house in Shejaia in Gaza City. Medics said dozens of others were wounded in the attack that hit a multi-floor residential building in the eastern suburb of Gaza City. They added that many were still believed to be missing and
Israeli strike kills 26 people in Gaza City house
An Israeli airstrike on Wednesday killed no fewer than 26 Palestinians, including children, in a house in Shejaia in Gaza City.
Medics said dozens of others were wounded in the attack that hit a multi-floor residential building in the eastern suburb of Gaza City.
They added that many were still believed to be missing and trapped under the ruins of the building. The strike damaged several other houses nearby,
At the time of filing this report, there was no immediate comment from the Israeli army.
DAILY POST reports that Israel last month resumed its bombardment of Gaza after a two-month truce and sent troops back into the enclave.
According to the health ministry in Hamas-run Gaza, Israeli military strikes have killed at least 1,400 people since March 18, when Israel renewed the attacks.
The armed wings of Hamas and the Islamic Jihad shortly afterwards resumed firing rockets into Israel territory.
Meanwhile, Israel and Hamas have traded blame over the stalemate in the ceasefire talks.
Arab mediators, Qatar and Egypt, backed by the United States, have stepped up efforts to restore calm but have so far failed to bridge the gap between the warring parties.
Israeli tallies revealed that the war in Gaza was triggered in October 2023, when Hamas fighters killed 1,200 people in southern Israel and took some 250 hostages.
According to Palestinian authorities, since then, more than 50,800 Palestinians have been killed in Israel’s military campaign.
Israeli strike kills 26 people in Gaza City house
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- April 9, 2025
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Police inspector dies while watching Arsenal match in Calabar
An officer of the Nigerian Police Force, Inspector Stephen Enang, tragically died on Tuesday night while watching the UEFA Champions League match between Arsenal and Real Madrid at a football viewing centre in Calabar. Enang, a devoted Arsenal supporter, was attached to the Akim Police Division along IBB Way in Calabar until his passing. He
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An officer of the Nigerian Police Force, Inspector Stephen Enang, tragically died on Tuesday night while watching the UEFA Champions League match between Arsenal and Real Madrid at a football viewing centre in Calabar. Enang, a devoted Arsenal supporter, was attached to the Akim Police Division along IBB Way in Calabar until his passing. He
