CBN to meet bureau de change operators on forex stability

Dwayne Johnson, the action star whose films pull in big bucks at global box offices, is aiming to entertain viewers in their living rooms with his next movie spectacle, the globe-trotting Netflix heist caper "Red Notice." Johnson stars in the movie with Gal Gadot and Ryan Reynolds about a race to locate and steal three valuable artifacts. The movie will stream on Netflix starting Friday after playing for a week in a limited number of movie theaters. The film ranks among the most expensive ever made by Netflix with a pricetag of roughly $200 million.

The Turkish lira hit new lows against the US dollar and euro. Analysts place the blame on the low interest rates and the cheap money policies preferred by President Recep Tayyip Erdogan.

In Montenegro, the construction of a motorway to open up the Balkan nation – a project launched in 2014 – is now more than two years behind schedule. With its high environmental and financial costs (more than $1 billion), this pharaonic project has dangerously increased the debt of the country of 600,000 inhabitants. FRANCE 24 investigates. The work is being financed by a Chinese bank and largely carried out by a Chinese state-owned company and a local firm close to the previous government, which signed the deal. But if Montenegro defaults on its loan, the contract stipulates that the country must relinquish sovereignty over certain parts of its territory. This burden on the country’s new government has aggravated the strong suspicions of corruption around the building site.

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Brent crude topped $88 a barrel in Tuesday trading, its highest level since October 2014 - creating a further potential headache for squeezed UK consumers if the increase is passed on to petrol pumps.

India's government has announced billions of euros worth of investment in infrastructure, as part of the country's recovery from the economic slump linked to the Covid-19 pandemic. The finance minister unveiled a public spending package totalling more than €470 billion for the next financial year, including money for roads and railways. Also today, we look at the New York Times' deal to buy the popular online game Wordle.

India's budget 2022 plans to ramp up infrastructure spending to support the economy's post-pandemic recovery. Key announcements include a state-backed "digital rupee" and tax on gains from digital currencies.

An oil production and storage vessel exploded off the coast of Nigeria early on Wednesday (February 2) with 10 crew members on board though it was unclear if there were any casualties or how much crude might have spilled into the sea.

Russia's move to recognise the breakaway Ukrainian regions of Donetsk and Luhansk has sent ripples through global markets on Tuesday, with falls across Asia, and in early trading in Europe. Oil prices also jumped, with the international benchmark Brent Crude hitting its highest level since mid-2014. Investors are now focusing on which sanctions the United States, the United Kingdom and the European Union might impose on Russia in response.

Global stock markets have taken a beating as investors rush for safe havens amid an escalation in geopolitical tensions over Ukraine. Russian stocks and bonds as well as the ruble are among the biggest losers.

Victoria Scholar, head of investment at Interactive Investor, says the geopolitical volatility and limited supplies mean oil prices will continue to rise and are likely to pass well beyond the symbolic $100 per barrel level.

Crude oil futures touched 13-year highs on Monday as the US and UK signalled a willingness to include the previously untouched Russian energy sector in sanctions. Meanwhile, more US firms and Chinese social media giant TikTok are suspending Russian operations, and new UK laws to sanction Russian oligarchs could mean big changes for London's luxury real estate market.