Akintunde Oyedokun
Research Analyst
Oil prices climbed to two-week highs on Friday as expectations of a U.S. interest-rate cut and renewed geopolitical risks lifted sentiment. Brent settled at $63.75 and WTI at $60.08, marking a second straight weekly gain. Softer U.S. data strengthened demand outlook, while stalled Russia talks, concerns over Russian and Venezuelan output, and fresh G7/EU sanction plans kept supply worries firm.
RBI Cuts Repo Rate to 5.25%, Signals More Easing
The Reserve Bank of India cut its repo rate by 25 basis points to 5.25% and indicated potential further reductions to support growth. The central bank will inject $16 billion into the banking system through bond purchases and forex swaps. Strong growth and falling inflation give policymakers room to ease rates, and economists expect another cut soon. Following the announcement, India’s bond yields dipped slightly, the rupee edged lower, and equity markets rose 0.4%.
German Industrial Orders Stabilize in October
German industrial orders rose 1.5% in October, driven mainly by large-scale items and a 9.9% increase in domestic demand supported by government investment incentives and defense spending. Excluding big-ticket items, growth was modest, while foreign orders fell 4%, indicating stabilization in the industrial sector without a broader recovery.
U.S., Rwanda Sign $228 Million Health Agreement
The U.S. and Rwanda have signed a five-year, $228 million health pact under the “America First Global Health Strategy.” The deal provides $158 million from the U.S. and $70 million from Rwanda to strengthen health systems, combat diseases like HIV/AIDS and malaria, enhance outbreak response, and support initiatives such as drone delivery of medical supplies. It aims to make Rwanda’s health sector more self-reliant and technology-driven.
Tinubu Appoints Boards for BOA, NADF, UBEC
President Tinubu has inaugurated boards for the Bank of Agriculture, National Agricultural Development Fund, and Universal Basic Education Commission, naming key executives and regional representatives to lead the institutions.
The appointments aim to strengthen governance and improve service delivery across agriculture and education sectors.
Board members bring experience from finance, business, and public service to drive national development.
