By Fatimah Idera The finance ministry revealed that the government will expand the credit agency UK Export Finance’s (UKEF) direct lending capacity by £2 billion ($2.6 billion), bringing the total to £10 billion. The additional funding is expected to unlock billions of pounds for UK defence companies that export overseas, driving economic growth and creating jobs across the UK. This boost comes just weeks after Britain pledged to increase defence spending to 2.5% of GDP by 2027, citing the need for greater security amid global instability and the ongoing war in Ukraine. “The world is changing, and we must bring…
Author: New Daily Prime
By Fatimah Idera US stock markets fell today on Wall Street as Donald Trump threatened to impose 200% tariffs on French wine, cognac, and alcoholic drinks imported from Europe. The S&P 500 lost 1.4%, while the tech-heavy Nasdaq Composite closed down 2% after resuming its decline from the heavy losses suffered earlier this week. The Dow Jones Industrial Average closed down 1.3% as concerns grew that the US tariff war could lead to an economic downturn. Mike Dickson, head of research at Horizon Investments, said, “There are new tariff headlines every day, and that’s weighing on things as sentiment remains…
By Alade Adisa Following the outbreak of diphtheria in parts of Lagos State, the management of the Lagos State University Teaching Hospital (LASUTH), Ikeja, is set to distribute Personal Protective Equipment (PPE) to its staff. This decision comes as several cases of the disease have been referred to the hospital for treatment. Additionally, the hospital has announced plans to enforce the mandatory wearing of face masks for both staff and visitors to help curb the spread of the infection. New Daily Prime gathered that six confirmed cases of diphtheria are currently being treated at LASUTH, while one critical case has…
By Toheeb Babalola After hearing inspiring stories from predecessors who had undergone the National Youth Service Corps (NYSC) in the late 1990s and early 2000s, the joy of wearing a lemon-coloured khaki and white shirt became a dream for me. Some of these stories, particularly Mr. Moriyanu’s (not his real name), remain stuck in my head. In 2002, Moriyanu was deployed from his hometown in the Southwest to a state in the Southern geopolitical zone. Despite studying Mechanical Engineering, he was assigned to a community primary school as his Place of Primary Assignment (PPA). The most fascinating part of his…
By Fatimah Idera A magnitude 4.4 earthquake struck a volcanic area near the southern Italian city of Naples early Thursday, damaging buildings and sending residents fleeing into the streets. According to Italy’s National Institute of Geophysics and Volcanology (INGV), the earthquake occurred at 1:25 a.m. (0025 GMT), with its epicentre near the coastal town of Pozzuoli, located west of Naples. The quake, which was followed by several smaller tremors, was the strongest to hit the Campi Flegrei (Phlegraean Fields) area in 10 months. It had a depth of 2.5 kilometers. This tremor was similar in magnitude to one that struck…
By Fatimah Idera Tanzania plans to increase overall spending by 13.4% in the upcoming fiscal year starting in July, according to a draft budget that prioritizes debt repayment, the cost of the upcoming general election, and the impact of U.S. President Donald Trump’s pause on overseas aid. According to the budget paper, the East African country plans to spend 57.04 trillion shillings ($22 billion) in the 12 months beginning in July, up from 50.29 trillion shillings in the current fiscal year. Finance Minister Mwigulu Nchemba presented a paper titled “Budget Framework and Expenditure Ceiling for 2025/26” to the parliamentary committee.…
By Fatimah Idera The President of Poland, Andrzej Duda, has called on the U.S. to transfer nuclear weapons to Polish territory as a deterrent against future Russian aggression. According to reports from the Financial Times, President Duda stated that he had recently discussed the proposal with U.S. President Donald Trump’s special envoy. Poland, which had previously stated that it would be ready to host U.S. weapons under a nuclear arms-sharing program, has also recently expressed interest in a proposal by French President Emmanuel Macron to extend France’s nuclear umbrella to European allies. “The borders of NATO moved east in 1999,…
U.S. President Donald Trump has warned of severe economic consequences for Russia if President Vladimir Putin refuses to sign a ceasefire agreement with Ukraine. Speaking to reporters in the white house, Trump stated that the U.S. has powerful financial measures at its disposal that could cause significant damage to Russia’s economy. “We could do things very bad for Russia. It would be devastating. But I don’t want to do that because I want to see peace,” Trump declared. The threat comes amid mounting pressure for Moscow to accept a U.S.-brokered 30-day ceasefire in Ukraine. Trump confirmed that American representatives are…
Brazil’s government has announced new regulations to expand payroll-deductible loans for private-sector workers through the country’s digital work card app. This initiative aims to provide domestic and rural workers with access to lower-cost credit. President Luiz Inácio Lula da Silva stated that the measure comes at a time when his popularity has sharply declined in opinion polls and is expected to increase loan accessibility. The initiative seeks to extend payroll loans to workers under the Consolidation of Labor Laws (CLT) regime. According to the government, the system will launch on March 21 and is designed to reduce excessive debt by…
By Fatimah Idera In a response to the recent expulsion of two British embassy staff from Moscow earlier this week,The British government announced on Wednesday that it has expelled a Russian diplomat and a diplomatic spouse. This was made known in an official statement, the UK Foreign Office said it had summoned Russian Ambassador Andrei Kelin over what it described as an “increasingly aggressive and coordinated campaign of harassment” against British diplomats in Russia. The UK government made it clear that it will not tolerate the intimidation of British embassy staff and their families. “In response, the Foreign Office revoked…
