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    All diaspora remittances must be received by beneficiaries in foreign currency only – CBN

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    All diaspora remittances must be received by beneficiaries in foreign currency only – CBN

    BREAKING: CBN extends deadline for old naira notes

    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

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    How Osun state governor, Adeleke was sacked by tribunal

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    Adeleke reacts to his removal as Osun state governor

    Adeleke reacts to his removal as Osun state governor

    JUST IN: Tribunal annuls Adeleke’s election, declares Oyetola Osun gov

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    Studying in UK? Proposed visa policy may require you to leave in 6 months if without a job

    Studying in UK? Proposed visa policy may require you to leave in 6 months if without a job

    • Nigeria
    • Africa
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  • Economy
    • All
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    • Economic Data
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    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

    U.S unemployment fell to a five-decade low

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rise above N44 trillion – DMO

    FG approves 39 licences for fish importation

    Q3 2022: Nigeria’s total trade stood at N11.6 trn, total export falls nearly 20% QoQ

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    JUST IN: CBN limits weekly cash withdrawal to N100k

    Law to legalize crypto as a payment method passed in Brazil

    Law to legalize crypto as a payment method passed in Brazil

    Will Nigerians in diaspora be committing an offence if they make a campaign donation?

    Rivers and Oyo State to join others in establishing small claims courts

    Non-oil sector contributes 93.67% to Nigeria’s GDP in Q2 2022

    Nigeria’s GDP growth slows to 2.25% in Q3 2022, oil sector contribution declines further

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

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    Equity Market turns bearish… As Value Traded Spikes by 409.01%

    The Local bourse Closed The Week Bearish… As the NGX-ASI fell by 0.18%.

    Local Bourse closed in Bullish Territory… As NGX-ASI at 0.31%

    NGX-ASI Turns Bullish…As Oil & Gas sector closed at a Gain of 1.58%

    The Okomu Oil Palm Plc announces N7.00 interim dividend for H1 2022

    Local Bourse Records 2nd Day Loss…… As NGX-ASI Decreases by 0.02%

    FGN Savings Bond rate rises above 12% in September 2022

    DMO offers N360 bn FGN Bonds for subscription in January

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    Sellers Sway the Performance of the Equities Market… As NGX-ASI Dips By 0.09%

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    The Local Bourse Records Gains… As Year-to-Date in closed at 2.68%

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    Cadbury Nigeria Plc’s profit more than doubled in 2022 amid revenue growth

    Cadbury Nigeria Plc’s profit more than doubled in 2022 amid revenue growth

    FY 2020: Unilever Nigeria Plc remains in loss despite revenue growth

    Unilever Nigeria Plc grows profit by 75.8% in FY 2022

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    Dangote Cement Plc appoints Arvind Pathak as new GMD

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    Oando blames complexity of audit for continued delays in releasing its financial statements

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    Access Bank’s plan to acquire Kenya’s Sidian Bank cancelled

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    Canceling Keystone XL pipeline cost thousands of jobs, billions of dollars – Biden Administration

    Canceling Keystone XL pipeline cost thousands of jobs, billions of dollars – Biden Administration

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    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

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    4 things to consider before buying a laptop

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    How to move to Canada by starting a business – Part 1

    Building a Successful Business Organization: Lessons from the Bible

    Building a Successful Business Organization: Lessons from the Bible

    2023 Bible Lessons on Setting your Financial/Investment Goals

    2023 Bible Lessons on Setting your Financial/Investment Goals

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    37 years between the Buhari regimes… Economic lamentations remain the same

    37 years between the Buhari regimes… Economic lamentations remain the same

    FACT CHECK: Did Buhari inherit lowest oil production as Tinubu claims?

    FACT CHECK: Did Buhari inherit lowest oil production as Tinubu claims?

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Joe Biden blames ‘Putin’s tax on both food and gas’ for US record high inflation

Friday, 10 June 2022, 11:00 pm
in News, World
0
Biden says the U.S would send military to defend Taiwan if China invades
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The US President Joe Biden on Friday blamed Russian President Vladimir Putin for the US rising inflation rate  shortly after inflation data was released by the Labour department.

US inflation rate hit a new 40-year high in May 2022 as prices of gasoline, food and other necessities continue to soar. This is fastest growth in inflation since December 1981 in the country.

“Today I’d like to speak about my top economic priority, fighting inflation,” Biden said. “I understand Americans are anxious and they’re anxious.”

“We’ve never seen anything like Putin’s tax on both food and gas,” Biden said.

The president said America “can tackle inflation from a position of strength, unlike any other country in the world,” saying that every other country in the world “is getting a big bite and a piece of inflation—worse than we are, in the vast majority of countries around the world.”

“But make no mistake about it, I understand inflation is a real challenge for American families,” Biden said.

“Today’s inflation report confirm what America’s already know—Putin’s price hike is hitting America hard,” Biden said. “Gas prices at the pump, energy and food prices account for half of the monthly price increases since May.”

“I’m doing everything in my power to blunt Putin’s price hike and bring down the cost of gas and food,” Biden said, touting his administration’s move to coordinate the release of global oil reserves to “boost supply” and to “keep prices from rising even more.”

“My dad used to say it’s all about the standard of living, how much you have left in the paycheck at the end of the month, how much is left to do the basic things,” Biden said. “So if you add up all the things that people need just to do their—to do everything from take care of the kids, to turn the heat on, the air conditioning on and everything in between, there’s a lot of ways we can reduce their cost, their cost of living.”

Ifunanya Ikueze
Ifunanya Ikueze

Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.

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