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Korea's auto parts makers with presence in China are facing a life-or-death situation. The plunge in the sales of Hyundai Motor and Kia Motors in China, resulting from China's retaliation against Korea's Terminal High Altitude Area Defense (THAAD) system deployment, is having a domino effect on the Korean auto parts ...

Leke Baiyewu, Abuja The Senate has begun an investigation into alleged foreign exchange racketeering by commercial banks and importers. The upper chamber of the National Assembly alleged that Nigeria had lost over N30tn to the alleged forex diversion between 2006 and 2017. The Senate Committee on Customs, Excise and Tariff, ...

’Femi Asu For the first time in at least two years, India’s monthly import of Nigerian crude oil has fallen below six million barrels, the latest monthly report from the Nigerian National Petroleum Corporation has shown. The Asian country lost its spot as Nigeria’s top oil buyer in December, as ...

’Femi Asu An investment fund managed by QG Investments Africa Management Limited, QG AfricaMezzanine LP, has announced the establishment of a power development company to develop power assets across sub-Saharan Africa. The new joint venture, QG Power Africa, was established in collaboration with Tomé International Limited and Independent Power Corporation ...

Ade Adesomoju, Abuja A Nigerian, Mrs. Comfort Olaleke, has challenged her deportation from the United States of America. Her octogenarian husband, Mr. Joseph Olaleke, is currently being treated for cancer in the foreign country. In a petition dated, April 3, 2017 by her lawyer, Mr. Babs Akinwumi, the woman faulted ...

Lawson Inc. said Wednesday that Genichi Tamatsuka will step aside as chairman of the convenience store operator in May. Tamatsuka, 54, is expected to be named as an adviser at Lawson’s general shareholders meeting set for May 30. Tamatsuka’s resignation came after the company established a new management team, a ...

The dollar plunged to a five-month low below ¥110 in Tokyo trading on Wednesday, with escalating geopolitical tensions keeping investors away from risky assets. At 5 p.m., the dollar stood at ¥109.67-67, down from ¥110.54-55 at the same time Tuesday. The euro was at $1.0618-0620, up from $1.0590-0590, and at ...

Stocks plunged on the Tokyo Stock Exchange Wednesday, dragged down by the yen’s rise against the dollar amid growing geopolitical tensions. The 225-issue Nikkei average dived 195.26 points, or 1.04 percent, to close at 18,552.61, hitting its lowest finish since Dec. 7 last year. On Tuesday, the key market gauge ...

Large-scale renovation work set to be completed in the spring of 2020 has started at Tokyo Disneyland as its operator aims to reverse a recent downtrend in visitor numbers. In the ¥75 billion project, the largest investment by Oriental Land Co. since the amusement park opened in 1983 in Urayasu, ...