Nigerians to feel the heat as Trump slams $100,000 annual fee on H1B visas

In recent months, Washington has introduced a $15,000 bond for some tourist and business visas and announced a travel ban on 12 countries.

US President Donald Trump has signed a proclamation imposing an annual $100,000 fee on H-1B visa applications. This represents a significant increase from the current $1,500 administrative charge.

The H1B programme allows American companies to hire foreign workers in specialised fields such as medicine, technology and engineering. These visas are valid for three to six years.

By D. O Akintoye

Full story at Pulse NG

South African Reserve Bank maintains interest rates as inflation rises

Even as the South African Reserve Bank expects inflation to move higher in the coming months, its Monetary Policy Committee (MPC) this afternoon elected to keep rates on hold.

Today’s decision leaves prime at 10.5%. Previously, there had been a 1.25 percentage point decline between last September and the last meeting in July.

Etienne Raubenheimer, the head of CFO Services at Outsourced CFO, said that stable rates provided households with a level of certainty.

By Nicola Mawson

Full story at IOL

What Tinubu’s claim of meeting 2025 revenue target means for the economy

PRESIDENT Bola Tinubu’s claim of meeting revenue targets in August 2025, citing improved remittances from non-oil revenues, has several implications for the economy, with economic watchers projecting a lower lending rate for businesses by the Central Bank of Nigeria (CBN).

President Tinubu, at a meeting with stakeholders comprising largely of ruling party loyalists on September 3, said the national revenue target in August had been met, a statement analysts say offers hope for a possible reduction in the high lending rate for businesses and manufacturers.

“Today, I can stand before you to brag, Nigeria is not borrowing. We have met our revenue target for the year, and we met it in August,” Tinubu said

By Harrison Edeh

Full story at ICIR Nigeria

FTSE 100 LIVE: Stocks fall as UK 30-year bond yields surge and eurozone inflation rises

A deep dive into what's moving markets and happening across the global economy.

The FTSE 100 (^FTSE) and European stocks headed lower on Tuesday as the UK’s long-term cost of borrowing hit its highest level since 1998.

The 30-year gilt yield, or interest rate, has risen to 5.680% in early trading, over the previous 27-year high set on 9 April. It comes a a blow to chancellor Rachel Reeves, who will be drawing up this autumn’s budget.

Jim Reid of Deutsche Bank said: "Even in orderly markets, we’re seeing a slow-moving vicious circle: rising debt concerns push yields higher, worsening debt dynamics, which in turn push yields higher again."

By LaToya Harding

Full story at Yahoo News

This critical data reveals the U.S. economy is on the brink of recession

Consumer spending, the backbone of the American economy, is flashing warning signs reminiscent of the run-up to the 2008 financial crisis.

According to Mark Zandi, chief economist at Moody’s Analytics, the latest data shows inflation-adjusted household spending has stalled in 2025, raising concerns about the broader economy, he said in an X post on August 31.

To this end, Moody’s Analytics data indicates that real consumer spending in 2025 has grown only slightly through July, marking the weakest performance since the 2008–2009 recession.

By Paul L

Full story at Fin Bold

SA entrepreneurs' two-year journey to secure funding amid Trump's tariffs

Two years is how long it could take to help an entrepreneur get finance-ready before they can unlock government funding, seeking to reindustrialise South Africa in the face of US President Donald Trump’s punitive tariffs.

The government’s response to trade tariffs, which will affect an estimated 7% of all products exported to America, is to create an Export Support Desk to help companies diversify into new markets, a Block Exemption for Exporters to enable collaboration, and an Export and Competitiveness Support Programme to provide financial support.

Separately, the government, in partnership with the private sector, aims to establish a R100 billion aggregated fund to support what the National Empowerment Fund says is “the ever-growing funding requirements for businesses owned and managed by black entrepreneurs to propel inclusive growth across various sectors of South Africa’s economy”.

By Nicola Mawson
Full story at IOL

Nigeria’s tourism industry needs global visibility — Runsewe

Former Director General of Nigeria Tourism Development Authority (NTDA formerly NTDC) and National Council for Arts and Culture (NCAC) Otunba Segun Runsewe has decried the Nigeria’s non participation in international expos and exhibitions like the World Travel Market, ITB Berlin, FITUR in Spain and Arabian Travel Market, ATM, and others, stressing that it is a minus for Nigeria.

He lauded the ex-president of the National Association of Nigeria Travel Agencies, (NANTA) Mrs Susan Akporaye for filling in the gap for Nigeria at the World Travel Market (WTM) in the absence of government agencies charged with that responsibilities.

Speaking at the FTAN retreat in Abuja with the theme: One Federation, one vision: Aligning for the Actualization of Nigerian Tourism Vision – Implication for Unity and Collaboration, Runsewe called for FTAN members to collaborate instead of competing to move the tourism industry forward.

By ‘Wale Olapade

Full story at Tribune Online