DW Business – Africa

People in Nigeria have been rushing to buy fuel amid soaring prices since the country's new president, Bola Tinubu, announced the end of subsidies. Nigeria's state oil company says it was spending over 800 million dollars each month on the subsidy.

The move to slash supplies by 1 million barrels per day in July is "extendable," said Riyadh. Members of the OPEC+ grouping also agreed to extend cuts previously agreed in April until the end of next year.

Marcus Gram, Joyner Vending Founder, joins 'Last Call' for Make It Monday to explain how he turned a vending machine business into a $300 thousand per year enterprise.

Beijing is portraying Chinese Premier Li Qiang's business-oriented visit to Germany as a diplomatic success, but experts say its impact on reducing long-running tensions will be limited.

The World Economic Forum's summer meeting is bringing together decision-makers in Tianjin, China. Alongside topics like AI and biotech, the conversation has focused on whether business can ignore political tensions.

In spite of an agreement struck in April to cut production of crude by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, oil prices still haven't seen a boost. In this edition, we see that concerns over global economic growth are outweighing the production cuts. Also, European space rocket Ariane 5 gears up for its final lift-off and Singaporean bank UOB makes a winning bet on Taylor Swift fans.

India on Friday sent its Chandrayaan-3 spacecraft on a mission to land on the moon, hoping to join the three other countries that have managed the feat.

Germans are losing interest in starting their own business or becoming self-employed. The German Chambers of Industry and Commerce see the trend as a threat to the country's economic development.

Dutch harbors are gearing up to import, store and distribute the clean fuels set to drive Europe’s decarbonization. Businesses see big money on the horizon as the EU moves away from fossil fuels.

German carrier Lufthansa expects 2023 to be one of its best years. The airline said second-quarter profits more than tripled.

Food prices have been rising rapidly since the Economic Community of West African States began pressuring coup leaders to reinstate President Mohamed Bazoum. Ordinary Nigeriens say they are already starting to feel the sting of ECOWAS sanctions.

Although Russia ended the so-called grain deal with Ukraine, prices have not skyrocketed as they did after the start of the war. Since the grain market didn't panic, the focus is now shifting to Russian grain exports.