Economy

Global Stock Markets Rise as Dollar Weakens Amid Turmoil

Published

1 year ago

September 9, 2025

Global stock markets rise as dollar weakens, with investors weighing Fed rate cut hopes against political turmoil in Argentina, Japan, and France

Global stock markets rise on Monday as the U.S. dollar weakened broadly, though it gained against the Japanese yen, with investors digesting political uncertainty across several key economies.

Also read: NGX Weekly Loss Hits N165bn as Sell Pressure Drags Stocks

In Argentina, President Javier Milei’s ruling party suffered a major election setback in Buenos Aires province, sending the peso to a record low after plunging 7.5 percent. Argentine stocks tumbled more than 10 percent.

Japan also faced turbulence after Prime Minister Shigeru Ishiba resigned, driving the yen lower as markets priced in the possibility of a more dovish successor.

Meanwhile, France’s political climate remained fragile, with Prime Minister François Bayrou at risk of defeat, fueling concerns over potential economic paralysis in the eurozone’s second-largest economy.

In Indonesia, the stock market gave up early gains to close lower, despite the rupiah strengthening following the removal of Finance Minister Sri Mulyani Indrawati in a cabinet reshuffle.

Markets were also buoyed by expectations of a near-term U.S. Federal Reserve interest rate cut, after weaker-than-expected August labour data pushed Treasury yields lower for the fourth straight session.

MSCI’s global equity index advanced 0.35 percent to 959.07. In Europe, the STOXX 600 gained 0.28 percent, while emerging market shares added 0.58 percent.

Across Asia, MSCI’s index of Asia-Pacific shares outside Japan rose 0.67 percent. Japan’s Nikkei surged 1.45 percent to 43,643.81.

In the U.S., markets were mixed: the Dow Jones slipped, while the S\&P 500 and Nasdaq climbed 0.31 percent and 0.82 percent, respectively, ahead of key economic releases later this week.

Oil prices staged a modest rebound, while gold broke above \$3,600 an ounce, supported by expectations of Fed easing.

Also read: Nigerian Stock Investment Guide Reveals Strong Picks

According to Reuters, investors are walking a fine line between optimism over potential U.S. rate cuts and heightened political risks in major economies, with currency swings amplifying returns in global equity markets.

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Economy

NRS Assures Taxpayers VAT Remains at 7.5% Amid Tax Reform Concerns

Published

2 days ago

October 27, 2026

Peculiar Adirika

NRS VAT rate remains 7.5%, the agency says, while addressing concerns over bank deductions, loans and the implementation of Nigeria’s tax reforms

The Nigeria Revenue Service (NRS) has assured taxpayers that Nigeria’s standard Value Added Tax (VAT) rate remains 7.5 per cent, while addressing concerns over the implementation of the country’s new tax reforms.

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The assurance was given by the Tax Administrator responsible for Kano, Jigawa and Katsina states, Samaila Abdullahi, during an NRS stakeholders’ engagement and tax reform sensitisation programme in Kano.

Abdullahi said concerns raised by individuals, traders, business owners and other stakeholders about the new tax laws were understandable, particularly questions relating to bank transactions, loans, family transfers, business income and the potential impact on small businesses.

He urged taxpayers to understand the reforms through the provisions of the law rather than rely on assumptions or misinformation.

According to him, the tax laws do not automatically authorise deductions from personal bank accounts.

He stressed that tax collection and recovery must follow the applicable legal provisions and procedures.

Abdullahi also clarified that money received as a loan should not automatically be classified as business income or profit, explaining that proper documentation is essential to establish the nature of a transaction.

“For instance, when a trader receives a loan of N500,000, the amount should not automatically be treated as N500,000 in sales or profit, provided the transaction is properly documented,” he said.

The NRS official’s comments were aimed at addressing public concerns about how the new tax framework would affect personal finances and business transactions.

He emphasised the importance of distinguishing between taxable business receipts and other funds, such as documented loans, when determining a taxpayer’s obligations.

The clarification comes amid heightened public interest in Nigeria’s tax reforms and questions about their implications for individuals, traders and small businesses.