The Federal Government says it will use the opportunities provided by the newly signed Finance Act to protect Micro Small and Medium-scale Enterprises in the country.

Vice President Yemi Osinbajo, made the disclosure in Abakaliki while launching the MSME Clinic in Ebonyi.

The vice president said the act provides a wide range of tax incentives for small businesses. He explained that the act signed into law on January13, 2020, shows the federal government’s intention to improve the lot of small businesses to achieve overall economic development.

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The former mayor of New York made the announcememnt in a statement issued on Wednesday . Mr Bloomberg has spent more than 500 million dollars of his own money in the race to become the Democratic party nominee

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The government of Italy announced on Wednesday new steps to combat the novel Coronavirus outbreak in the country including the closure of public schools and universities for 11 days

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The Ghana union of traders association (GUTA) is pleading with banks that lend to its members to help alleviate the pressure that may befall them as the spread of Coronavirus poses a threat to their activities

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Kenya finance ministry plans to set a budget deficit of 4.9% of GDP in the fiscal year to June 2021, down from 6.3% this financial year. the plan could culminate in the deficit dropping to below 4%, the IMF said in a statement released at the end of a two- week mission to Kenya.

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The central bank of Nigeria has revealed an exposure draft guideline for the regulation and supervision of the micro finance bank (MFB'S)

the bank had set April 1, 2020 as deadline for MFB's to meet the first stage of the new minimum capital base. 

CBN Director, financial policy and regulation, Kevin Amugo, in the circular, stressed that the need to reposition and strengthen MFB's towards improved performance had become apparent as revealed from the report of a recent review of the sub-sector.

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The minister of finance, budget and National planning, Mrs Zainab Ahmed on Wednesday disclosed that the federal government will carry out a mid-term review of the 2020 budget.

The minister gave this indication while addressing state house correspondent on the outcome of the week's federal Executive council (FEC) meeting was responding to questions over the effect of the outbreak of the COVID-19 in Nigeria and how it had affected economies across the globe. 

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Workers in Germany’s burger bars are set to receive a pay raise of as much as 27.7 per cent spread over three years to mid-2024 after their union struck a deal with some fast-food franchises.

The BdS association of fast-food outlets, in Munich, said the deal will run from July 1to June 30, 2024, with the last pay raise kicking in on December 1, 2023.

Mediator Harald Wanhoefer said the talks were hard and intense. Both sides had to make concessions and accept compromises to reach a deal.’’

The pay increase moves workers from the current 9.35 euros per hour, the legal minimum wage, up to 11.80 euros in 2024.

The second pay scale group, which includes workers who have been on the job for at least a year, will get 12 euros by the end of the period.

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A panel of the Organisation of Petroleum Exporting Countries and its allies have recommended cutting oil output by an extra 1 million barrels per day. This suggests Russia and Saudi Arabia are moving closer to a deal to support prices which have been hit by the coronavirus outbreak.

Saudi Arabia and some other OPEC members have been pushing for deeper cuts as crude prices have plunged 20% since the start of the year but had struggled to persuade Russia to support the additional reduction.

To try to halt the spread of the virus, other international conferences around the world have been scrapped, prompting OPEC officials to consider whether their talks should be held in person or by video.

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The World Bank has committed 12 billion dollars in aid for developing countries grappling with the spread of the coronavirus.

The aid is intended to help countries improve their public health response to the crisis, as well as work with the private sector to reduce the economic impact.

It follows warnings that slowdown from the outbreak could tip countries into recession.

The emergency package includes low-cost loans, grants and technical assistance.

The action comes as leaders around the world pledge to shield their countries from the economic impact of the outbreak.

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