Economy

France Faces 70-Year Low in Wine Output, Forcing Estates to Consolidate

Record heat and drought could cut France's wine production to a 70-year low in 2026, squeezing revenue and accelerating consolidation.

India's Inflation Climbs to 4.82%, Puts Pressure on RBI to Hike Rates

Retail inflation rose to 4.82% in August, the tenth straight monthly increase. Rising food, fuel and transport costs deepen the policy challenge.

Raw Materials Exports Jump 106% to ₦3.84 Trillion, Q2 Drives Surge

Nigeria’s raw materials exports rose 106% year-on-year to ₦3.84 trillion in H1 2026, led by Q2 shipments of ₦2.31 trillion.

Passenger Car Imports Lift Nigeria’s Import Bill to ₦1.18 Trillion in H1 2026

Nigeria’s passenger motor car imports rose 145.6% year-on-year to ₦1.18 trillion in the first half of 2026, a sharp rise in import spending.

Canada Imposes $27.6 Billion Retaliatory Tariffs, Deepening U.S. Trade Rift

Canada’s 15%, 50% duties on $27.6 billion of U.S. goods took effect, targeting steel, appliances and dairy; Ottawa has pledged a $7.5 billion support

Canada Enacts Counter-Tariffs on US Goods, Escalating Trade Standoff

Counter-tariffs on nearly C$28bn of US products, some up to 50%, take effect, raising costs for businesses and consumers and risking further US

Healey Uses Confidence Drive to Narrow Room For Tax Rises

Chancellor John Healey is pitching fiscal discipline with a confidence-led growth push, a strategy that could limit large tax increases before the

Nigeria’s GDP Growth Is Driven By Telecoms And Services, Leaving Jobs Behind

GDP rose 4.43% in Q2 2026, the fastest since 2021, but telecoms and services are powering output while employment-heavy sectors lag.

India’s 7.8% June-Quarter GDP Faces Credibility Risk After Ex-Official’s Claim

A former finance secretary says last year’s GDP was cut by 6 trillion rupees, making the June-quarter 7.8% growth appear stronger.

Nigeria’s $420 Billion Economy Leaves 31.8 Million Facing Hunger

Headline growth pushes GDP to $420 billion, while 31.8 million Nigerians face acute food insecurity and food inflation hits 40.9% in August 2026.

US Blacklists Cuban Firms and Bank, Deepens Strain on Cuba’s Economy

Washington added companies, a Castro family member and a state bank to a blacklist as power and health services buckle.

Senegal Secures $2.2 Billion IMF Programme, Must Tackle Past Debt Misreporting

The IMF reached a staff-level deal on a 36-month, $2.2 billion programme to back Senegal's 2026-2029 reforms, subject to board approval and

Russian Bank Economist Fired After Criticising War Economy

Andrei Klepach, the chief economist at Russia’s state-controlled development bank VEB, has been fired after reports of remarks warning that Russia could not prevail in a prolonged economic war with Ukraine.

IMF Projects Gabon's Public Debt to Reach 94.3% of GDP by 2027

Gabon's public debt is projected to rise to 94.3% of GDP by 2027, according to IMF estimates, driven by widening fiscal deficits and increased borrowing, including a $920 million Eurobond issued in July 2026.

Okonjo-Iweala Urges Nigeria to Prioritise Infrastructure Maintenance Over Spending

WTO Director-General Ngozi Okonjo-Iweala has urged Nigeria to prioritise infrastructure maintenance, fiscal discipline and regional industrial development, saying budget allocations alone cannot deliver sustainable economic growth.