Global News: U.S-Saudi Arabia security deal could seal future of petrodollar
Nigerian Box Office set to hit N10 billion revenue in FY2024
A comprehensive US-Saudi Arabia deal may place the world’s largest crude exporter firmly in the dollar camp, experts say, amid speculation that the kingdom could end oil sales in the currency.
Our thoughts
Don't hate the player hate the game!
Last week, the news was that Saudi Arabia was cancelling the contract, our thoughts - there would be negotiation but things are changing.
This week, we got information - They will be signing a new contract - A security treaty that will "put brakes on the Saudi - China partnership in terms of diplomatic outreach"
What we can see here?
1)Saudi is using what they have to get what they want!
2)US is fighting hard to maintain their "world economic power status".
3)The US - China trade war is a big deal and we will be watching the tussle for a long time to come.
African News: Kenya scraps most new tax hikes as hundreds protest
Kenya’s government on Tuesday walked back plans to impose multiple tax hikes, the presidency said, amending a controversial bill that sparked protests where more than a dozen demonstrators were arrested.
Our thoughts
The Kenyan government is desperately trying to raise additional revenue.
1)To reduce reliance on debt
2)To satisfy IMF requirements for additional disbursements.
Their strategy is to increase taxes on an already burdened society but the locals are not having it. Social unrest is the worst thing that can happen to any economy (talk less of one trying to find stability) So it is not surprising that the government has decided to slow down on the reforms. We expect them to meet in the middle.
Nigerian News: Nigerian Box Office set to hit N10 billion revenue in FY2024
The Nigerian box office is expected to reach N10 billion in revenue from cinema ticket sales and movie releases by the end of 2024.
This projection is driven by a strong lineup of new titles from both Hollywood and Nollywood, promising increased content and cinema admissions.
Our thoughts
This is really good to see! Box office has in recent times taken a back seat to VODs (Video on Demand Platforms) due to foreign currency earnings, a larger audience and less need for marketing.
But there is still opportunity for cinema sales if gotten right as people like Funke Akindele has shown us. For context, if we could get 0.5% of that N10billion in profit, that would be N50million! Something light!
What’s happening at the Money Wit Club…..
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