Tue, 24 Nov 2020

LAGOS -- The ongoing protests against police brutality in Nigeria that have forced businesses to close down are a danger to the nation's already poor economy, a union organization warned on Friday.

The Nigeria Employers' Consultative Association (NECA), a member organization of the Organized Private Sector of Nigeria, said in a statement that businesses could not operate in such an environment featuring heightened insecurity with collateral damage to infrastructure and property. (Nigeria-Protest-Economy)

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BEIJING -- China's top economic planner approved eight fixed-asset investment projects with their combined investment totaling 17.2 billion yuan (about 2.58 billion U.S. dollars) in September.

The projects were mainly in the transportation and energy sectors, according to Meng Wei, spokesperson for the National Development and Reform Commission. (China-Economy-Investment)

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UNITED NATIONS -- UN Secretary-General Antonio Guterres on Saturday expressed the hope that the agreement between Israel and Sudan to normalize relations will create opportunities for peace and prosperity in the wider regions, said his spokesman.

The secretary-general took note of the announcement of the agreement by the governments of the United States, Israel and Sudan. He hoped the agreement will further cooperation, enhance economic and trade relations, and bring about new opportunities to advance peace and economic prosperity in the wider Horn of Africa and Middle East regions, said Stephane Dujarric, the spokesman, in a statement. (UN-Israel-Sudan)

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NEW YORK -- Wall Street's major averages declined in the week as investors focused on developments regarding additional U.S. coronavirus stimulus, while digesting some earnings reports.

For the week ending Friday, the Dow lost 1 percent, the S&P 500 declined 0.5 percent, and the Nasdaq dropped 1.1 percent. (US-Stocks-Weekly loss)

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