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Six Nigerian states drop bid to annul presidential election

By Camillus Eboh ABUJA (Reuters) -Six opposition-led Nigerian states on Friday night withdrew a Supreme Court petition to invalidate the result of last weekend’s presidential vote, which they had argued violated electoral rules, court papers showed. The states, in a court filing signed by their attorneys general, did not give reasons for their decision. Separately, …

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Polish mayor targeted by Pegasus spyware-media

WARSAW (Reuters) – An opposition-linked Polish mayor had his phone hacked using Pegasus spyware, Gazeta Wyborcza daily reported on Friday, amid allegations that the country’s special services have used the technology against government opponents. Reports in 2021 by the Associated Press that the software, developed by Israel-based NSO Group was used to hack the phones …

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Dollar retreats, headed for biggest weekly loss since mid-January; bitcoin down

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. dollar slid from a 2-1/2-month high versus the Japanese yen on Friday, on track for its largest weekly loss since mid-January against a basket of six major currencies, as traders stepped back to gauge the path for Federal Reserve policy. Analysts said the market has for …

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Oil settles up on China demand hopes, posts weekly gain

By Shariq Khan BENGALURU (Reuters) -Oil prices recovered from a brief sell-off to gain by more $1 per barrel on Friday and ended the week higher, driven by renewed optimism around demand from top oil importer China. Brent crude futures rose $1.08, or 1.3%, to settle at $85.83 a barrel. U.S. West Texas Intermediate (WTI) …

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Gold set for first weekly rise in five on dollar weakness

By Seher Dareen (Reuters) – Gold prices climbed to a two-week high on Friday and were heading for their first weekly rise in five as a pullback in the U.S. dollar and Treasury yields offered some respite from prospects of more rate hikes from the Federal Reserve. Spot gold was up 0.8% at $1,850 per …

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China approves $1.3 billion loan rollover for Pakistan -finance minister

By Asif Shahzad ISLAMABAD (Reuters) -Industrial and Commercial Bank of China Ltd on Friday approved a rollover of a $1.3 billion loan for cash-strapped Pakistan, which will help shore up its depleting foreign exchange reserves, Finance Minister Ishaq Dar said. The facility will be disbursed in three instalments. The first one of $500 million has …

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How deep are Egypt’s economic troubles?

CAIRO (Reuters) – Egypt’s economy has come under severe pressure over the past year, with the Egyptian pound tumbling, foreign currency drying up, and inflation soaring. WHAT CAUSED EGYPT’S ECONOMIC WOES? Some of the causes date back decades, such as failed industrial development and export policies that created a persistent trade deficit. An over-valued currency, …

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UK regulator launches probe into LME nickel trading halt

By Iain Withers and Eric Onstad LONDON (Reuters) -A British financial watchdog on Friday launched its first ever investigation of a UK exchange for possible misconduct after the London Metal Exchange’s decision last year to halt nickel trading. It was unclear, however, whether the probe would look at the exchange’s controversial decision to cancel billions …

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Unrepentant Johnson to give ‘partygate’ evidence in UK inquiry this month

By Elizabeth Piper and Sachin Ravikumar LONDON (Reuters) -British former Prime Minister Boris Johnson will give evidence later this month to an inquiry into whether he intentionally misled parliament about illegal parties at his Downing Street office and residence during COVID-19 lockdowns. In an update of its work which will be used as a basis …

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LGBT Ugandans face backlash as parliament launches schools investigation

By Elias Biryabarema KAMPALA (Reuters) – Days after Uganda’s parliament ordered an investigation last month into the alleged promotion of homosexuality in schools, a video appeared online identifying Kampala resident Eric Ndawula as gay. Ndawula, 26, said his landlord showed him the video, which was posted by someone whose name he did not recognise. The …

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