Consumers in China are taking to social media to express their support for Huawei as the U.S. government looks to ramp up pressure on the Chinese smartphone maker.Technologyread more
Tensions between the two parties have heightened in recent months as the campaign for seats in the Brussels and Strasbourg-based parliament has crescendoed.Europe Politicsread more
Shares of Saudi shopping mall operator Arabian Centres were trading at 26.1 riyals ($6.96) per share just after 10 a.m. in Riyadh.IPOsread more
There is at least one thing in common between the U.S. and Russia – their willingness to weaken the European Union, a top EU official said.Politicsread more
U.S. President Donald Trump's latest tariff increase — and Beijing's plans to counter them — are hitting U.S. companies in China, according to a joint survey this month by...China Economyread more
"We are also constantly watching whether the trade war will turn into a tech war," Ma said Tuesday, according to a CNBC translation of his Chinese remarks published by a locak...China Economyread more
TransferWise, the money transfer start-up, was valued at $3.5 billion after investors bought $292 million of shares in a secondary sale.Technologyread more
Indian Prime Minister Narendra Modi's likely return to power for a second term will likely be positive for his country's growth, according to economists and investors.Asia Economyread more
Kohl's, J.C. Penney and Nordstrom release disappointing earnings news, putting a damper on their sector.Retailread more
"Pretty much the entire suite of apps that 'talk' over the internet could be vulnerable," said Tom Uren, a senior analyst at the Australian Strategic Policy Institute's...Cybersecurityread more
Bezos's comments give a rare glimpse into his interest in the auto industry. Amazon recently invested in two self-driving start-ups.Technologyread more
parliament@ (Adds context, analyst quote)
ABUJA, May 9 (Reuters) - Nigeria's President Muhammadu Buhari has nominated Central Bank Governor Godwin Emefiele for a second five-year term, according to a letter read on the floor of the senate.
Emefiele has overseen an interventionist currency policy at the behest of the presidency, propping up the local naira by pumping billions of dollars into the foreign exchange market.
The upper house of parliament must approve his nomination and is expected to do so. If it is confirmed, Emefiele will the first central bank governor to serve a second term since Nigeria's return to democracy in 1999.
A central bank spokesman was not immediately available for comment.
Anthony Simond at Standard Aberdeen Asset Management in London said he expected a continuation of the current currency policy.
"Whether it will be good for the country in the long run is a different question. But for now high carry and stable FX will continue," he said.
Nigeria entered and exited its first recession in a quarter of a century under Emefiele's tenure, as global oil prices plummeted and then gradually partially rebounded. Some economists have argued that the currency policy exacerbated the downturn. (Reporting by Camillus Eboh; Additional reporting by Chijioke Ohuocha and Alexis Akwagyiram in Lagos, Karin Strohecker in London and Paul Carsten in Abuja Editing by Gareth Jones and John Stonestreet)