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<p>The Monetary Policy Committee of the Central Bank of Nigeria has raised the monetary policy rate by 50 basis points to 27.25 per cent. After a 2-day monetary policy meeting, the CBN further retained the asymmetric corridor around the MPR at +500bps/-100bps, raised the CRR for deposit money banks by 500 basis points to 50 per cent, raised the CRR for merchant banks by 200 basis points to 16 per cent and retained the liquidity ratio at 30 per cent.</p>


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Nigeria’s MPC hikes interest rate by 50bps to 27.25%

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<p>Elon Musk has big plans for how artificial intelligence can help to propel his businesses forward. The tech titan founded xAI, a new AI venture, in 2023 to develop large language models and AI products, like its chatbot Grok, as an alternative to AI tools being created by OpenAI, Microsoft and Google. In June, it was announced that xAI would build a multi-billion dollar supercomputer, called Colossus, in Memphis, Tennessee to carry out the task of training Grok. Musk thinks supercomputers can also transform Tesla from a car company to an AI and robotics company. In August, Musk teased Tesla’s AI supercomputer cluster called “Cortex” on X. Cortex is being built at Tesla’s Austin, Texas headquarters. Back in January, Tesla also announced that it planned to spend $500 million on a custom-built Dojo supercomputer in Buffalo, New York. The job of these supercomputers is to process and train AI models using the huge amounts of video and data captured by Tesla vehicles and improve Tes&#8230;</p>


Why Elon Musk Is Betting Big On Supercomputers To Boost Tesla And xAI

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<p>#CNBC<br />
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Hezbollah and Israel exchange heavy fire as fear grows of widening conflict

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<p>The Monetary Policy Committee of the Central Bank of Nigeria commenced its fifth meeting of the year today as investors eye the outcome of the meeting. The MPC has raised lending rates by 800 basis points so far this year. What are the expectations of the market? Muktar Mohammed, Analyst at Assar Investments, joins CNBC Africa for this discussion.</p>


Will investors get bullish on Nigeria MPC decision?

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<p>Discover insights on creating robust learning systems that can withstand and adapt to future challenges with Dr Bosun Tijani, Minister of Communications, Innovation, and Digital Economy of Nigeria.</p>


Focus On: Power parity: Building resilient learning systems

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<p>Africa&#8217;s energy framework is at a significant turning point, increasingly focusing on alternative energy solutions. Nonetheless, the challenges posed by global funding and infrastructural demands remain critical. CNBC Africa will bring key voices from the Africa50 General Shareholders Meeting in Madagascar, where pivotal stakeholders will engage in discussions regarding innovative financing approaches to enhance the implementation of renewable infrastructure initiatives.</p>


The 2024 Africa50 General Shareholders Meeting

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<p>Fast-rising comedian Emmanuel Sonubi returns home to the London borough of Enfield for the final leg of his comedy tour – and gives CNBC Travel a tour of his favorite places to unwind when he’s in town.</p>
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Hidden gems to check out in Enfield

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<p>Bertrand Piccard is the visionary behind Climate Impulse, the very first hydrogen-powered aircraft capable of flying around the world.</p>
<p>But his end goal is to lower aviation&#8217;s carbon emissions by proving that hydrogen is a viable fuel for air travel.</p>
<p>Listen to one man’s mission to change the way we fly, from this week’s Beyond The Valley podca&#8230;</p>


Is hydrogen the aviation fuel of the future?

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<p>Men have been steadily dropping out of the workforce &#8211; especially men aged 25 to 54, who are often considered to be in their prime working years. About 10.5% of men in their prime working years, or roughly 6.8 million men nationwide, are neither working nor looking for employment, compared to just 2.5% in 1954. So what’s driving men out of the workforce? And if left unchecked, what impact will it have on the U.S. economy?</p>
<p>Chapters:<br />
1:29 Why some men aren’t working<br />
6:05 Economic impact<br />
8:02 Solutions</p>
<p>Produced by: Juhohn Lee<br />
Edited by: DeLon Thornton<br />
Animation: Mallory Brangan<br />
Supervising Producer: Lindsey Jacobson<br />
Additional Footage: Getty Images</p>
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<p>About CNBC: From &#8216;Wall Street&#8217; to &#8216;Main Street&#8217; to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.</p>
<p>Want to &#8230;</p>


Why Men Are Leaving The Workforce

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<p>One reason lies with a Chinese blockbuster game called Black Myth: Wukong.</p>
<p>China’s first attempt at a top-tier video game smashed world records, bolstering the industry’s global ambitions just a few years after Beijing’s gaming crackdown.<br />
&#8212;&#8211;</p>
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Why Playstation 5 sold out in China last month

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<p>Florist Kaiva Kaimins may have been born in Australia, but Dalston is home.</p>
<p>Kaimins lives and works in the East London enclave, where she set up her floral studio, My Lady Garden, in 2020.</p>
<p>It is the physical manifestation of her Instagram account by the same name, which she started during flower school in 2016. It now has more than 50,000 followe&#8230;</p>


Discover Dalston’s Hidden Gems with Floral Entrepreneur Kaiva Kaimins

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<p>Chili’s efforts to win back American consumers are working.</p>
<p>Same-store sales, a key metric for the restaurant industry, jumped 14.8% in its fiscal fourth quarter, a significant increase as many chains struggle to bring in diners.</p>
<p>Find more on how they did this here: https://youtu.be/UuMjjIjX8_8&#8230;</p>


Here’s how Chili’s made a comeback

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<p>Investors have resumed profit-taking on the Nigerian exchange despite the wait for a monetary policy direction by the Monetary Policy Committee of the Central Bank of Nigeria next week. Analysts say they expect to see a positive weekly close as investors continue to await corporate earnings from UBA and ACCESSCORP. Calista Chileke, Investment Research Analyst at ARM Securities, joins CNBC Africa for this discussion.</p>


Investors resume profit-taking on Nigeria equities

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<p>Traders at Access bank expect continued weak demand as investors shift their focus to next week Monday’s 150-billion naira bond auction. On the T-bills side, the February and March 2025 papers are the most traded at an average yield of 20.4 per cent. Odinaka Linus-Nwokonkwo, Treasury Team Member at Access Bank joins CNBC Africa for more market movements.</p>


Access: Investors shift focus to Monday’s ₦150bn bond auction

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<p>The South African Reserve Bank&#8217;s Monetary Policy Committee voted unanimously to cut its main interest rate by 25 basis points to 8 per cent, the first cut in four years. The Central Bank said it saw inflation staying below the midpoint of its target range as far out as 2026. The country’s headline inflation came in at 4.4 per cent year-on-year in August, just below the 4.5 per cent midpoint target range.</p>


SARB announces 25bps rate cut (full-speech)

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<p>India can achieve sustainable economic growth of up to 8% over the medium term, according to the country’s central bank governor. Reserve Bank of India (RBI) Governor Shaktikanta Das spoke exclusively with CNBC&#8217;s Tanvir Gill. These are her main takeaways.</p>
<p>The RBI is closely watching food inflation and a rise in bank deposit withdrawals. India’&#8230;</p>


India can achieve growth of up to 8%

India can achieve growth of up to 8%, central bank chief says

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<p>Data indicates that two thirds of medical device manufacturers are export ready, but what role can SEZs play in expediting trade? In this Episode of Eye on OR Tambo SEZ, we explore the pharmaceutical and medical device manufacturing industry.</p>


Videos

Nigeria’s MPC hikes interest rate by 50bps to 27.25%

Why Elon Musk Is Betting Big On Supercomputers To Boost Tesla And xAI

Hezbollah and Israel exchange heavy fire as fear grows of widening conflict

Will investors get bullish on Nigeria MPC decision?

Focus On: Power parity: Building resilient learning systems

The 2024 Africa50 General Shareholders Meeting

Hidden gems to check out in Enfield

Is hydrogen the aviation fuel of the future?

Why Men Are Leaving The Workforce

Why Playstation 5 sold out in China last month

Discover Dalston’s Hidden Gems with Floral Entrepreneur Kaiva Kaimins

Here’s how Chili’s made a comeback

Investors resume profit-taking on Nigeria equities

Access: Investors shift focus to Monday’s ₦150bn bond auction

SARB announces 25bps rate cut (full-speech)

India can achieve growth of up to 8%, central bank chief says

Eye on OR Tambo SEZ: Exploring South Africa’s medical manufacturing landscape

News Tips

Advertise With Us

Videos

Nigeria’s MPC hikes interest rate by 50bps to 27.25%

Why Elon Musk Is Betting Big On Supercomputers To Boost Tesla And xAI

Hezbollah and Israel exchange heavy fire as fear grows of widening conflict

Will investors get bullish on Nigeria MPC decision?

Focus On: Power parity: Building resilient learning systems

The 2024 Africa50 General Shareholders Meeting

Hidden gems to check out in Enfield

Is hydrogen the aviation fuel of the future?

Why Men Are Leaving The Workforce

Why Playstation 5 sold out in China last month

Discover Dalston’s Hidden Gems with Floral Entrepreneur Kaiva Kaimins

Here’s how Chili’s made a comeback

Investors resume profit-taking on Nigeria equities

Access: Investors shift focus to Monday’s ₦150bn bond auction

SARB announces 25bps rate cut (full-speech)

India can achieve growth of up to 8%, central bank chief says

Eye on OR Tambo SEZ: Exploring South Africa’s medical manufacturing landscape

News Tips

Advertise With Us

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