: Akintunde Oyedokun
Research Analyst
Oil prices declined on Monday as investors watched sluggish Ukraine peace talks and anticipated a U.S. Federal Reserve rate cut. Brent dropped to $63.18 and WTI to $59.51, with losses easing after Iraq halted output at a major Lukoil field. Analysts say a breakthrough in Ukraine could boost Russian supply and pressure prices further, while long-term outlooks point to possible oversupply and a gradual drift toward $60 per barrel.
UK Hiring Slows Ahead of Budget
Britain’s job market stayed weak before the November 26 budget, with permanent placements falling slightly and temporary hiring contracting. Unemployment rose to 5%, though candidate availability and starting salaries for in-demand roles improved. Businesses remain cautious despite no major employer tax hikes. The outlook for hiring in the coming months remains uncertain as companies weigh economic pressures.
Japan’s Economy Slips in Q3 Amid Spending Slowdown
Japan’s GDP fell 2.3% annualized in Q3, driven by weaker capital investment and stricter housing rules. Private consumption rose modestly, but overall domestic and external demand dragged growth. Analysts expect the economy to rebound next quarter, while U.S. tariffs may continue to impact exports. The slowdown is not expected to alter the Bank of Japan’s December rate hike plans. Strong wage growth prospects next year could further support the recovery.
Morocco Boosts Trade Ambitions With Two New Deepwater Ports
Morocco is developing two major deepwater ports to strengthen its global trade position: Nador West Med on the Mediterranean, set to open in 2026, and a $1 billion Atlantic port in Dakhla, expected in 2028. Nador will feature the country’s first LNG terminal and a large industrial zone, while Dakhla will be Morocco’s deepest port and a key gateway for Sahel nations. Both ports will support green hydrogen exports as Morocco works to replicate the industrial success of Tanger Med and expand its energy and logistics capacity.
Nigeria Collected $62m in Airline Ticket Taxes in 2024 — IATA
Nigeria earned $62 million from airline ticket taxes in 2024, part of Africa’s $1.97 billion total. Most of the continent’s earnings came from international travel, while global revenue hit $60.3 billion. North America and Europe remained the biggest contributors worldwide.
From December 1, 2025, Nigeria added a new $11.5 APIS security levy, raising total security charges on international tickets to $31.50
