News
Chinese economic growth among slowest in decades
By Francesca Hangeior.
China recorded one of its slowest rates of economic growth in decades last year, data showed Friday, as leaders nervously eye a potential trade standoff with incoming US president Donald Trump.
Beijing has in recent months announced its most aggressive support measures in years in a bid to reignite an economy that has suffered on multiple fronts, including a prolonged property market debt crisis and sluggish consumer spending.
But, the economy grew five per cent last year, official data from Beijing’s National Bureau of Statistics showed Friday, slightly above the 4.9 per cent forecast in an AFP survey of analysts.
Still, the figure was lower than the 5.2 per cent recorded in 2023.
The growth took place in the face of a “complicated and severe environment with increasing external pressures and internal difficulties”, the NBS said.
The economy was still facing “difficulties and challenges”, officials admitted.
Retail sales, a key gauge of consumer sentiment, rose 3.5 per cent — a major slump from the 7.2 per cent growth seen in 2023 — though industrial output increased 5.8 per cent, from 4.6 per cent the previous year.
However, the 5.4 per cent jump in economic growth seen in the final four months far outpaced the five per cent forecast in a Bloomberg survey and was much better than the same period in 2023.
The data provided “mixed messages”, Zhiwei Zhang, president of Pinpoint Asset Management, said.
Beijing’s recent policy shift had “helped the economy to stabilise in (the fourth quarter), but it requires large and persistent policy stimulus to boost economic momentum and sustain the recovery”, he said.
Zichun Huang, China economist at Capital Economics, said she expected growth to “continue accelerating in the coming months”.
“The government’s property support measures seem to be providing some relief, with the pace of house price falls slowing and new home sales showing some recovery,” she said.
The GDP growth rate is the lowest recorded by China since 1990, excluding the financially tumultuous years of the Covid-19 pandemic.
And the analysts surveyed by AFP estimated growth could fall to just 4.4 per cent in 2025, and even drop below four per cent the following year.
China has so far failed to rebound from the pandemic, with domestic spending mired in a slump and indebted local governments dragging on growth.
In a rare bright spot, official data showed earlier this week that exports reached a historic high last year.
But gathering storm clouds over the country’s massive trade surplus mean Beijing may not be able to count on overseas shipments to boost an otherwise lacklustre economy.
Trump, who will begin his second term next week, has promised to unleash heavy sanctions on China.
“We still expect growth to slow for 2025 as a whole, with Trump likely to follow through on his tariff threats soon and persistent structural imbalances still weighing on the economy,” Huang said.
Iran has carried out the execution of two individuals accused of collaborating with Israeli intelligence, according to an official statement from the country’s judiciary.
Authorities said the two men were convicted on charges of espionage linked to Mossad, and were found guilty of working with what officials described as a hostile intelligence network operating within Iran.
According to the judiciary, the suspects had been under investigation for activities considered detrimental to national security.
Their death sentences were subsequently upheld by the country’s Supreme Court prior to being enforced.
The executions were confirmed on April 20, 2026, although officials did not provide specific details regarding the exact time or location.
Iranian authorities stated that the case is part of ongoing efforts to counter and dismantle foreign intelligence operations within its borders.
There has been no independent confirmation of the allegations, and Israeli authorities have not issued any immediate response.
The incident reflects the persistent strain in relations between the two countries, with Iran frequently reporting the uncovering of alleged espionage networks tied to Israeli operatives.
President Bola Ahmed Tinubu has approved the establishment of a new campus of the Police Academy in Erinja, Yewa South Local Government Area in Ogun State.
President Tinubu also approved a special take-off grant of N15billion for the college.
The President’s approval was in fulfilment of the provisions of the Nigeria Police Academy (Establishment) Act, 2021, particularly with respect to the expansion of the Police Academy based in Wudil, Kano state, into multiple campuses across the country.
The intervention fund will be sourced from the TetFund 2026 allocation to finance priority infrastructure, academic facilities, student accommodation, and core training assets.
A high-level consultative meeting involving the Minister of Police Affairs, the Minister of Education, Dr Tunji Alausa, officials of the Federal Ministry of Education, the Inspector-General of Police and the Executive Secretary of the National Universities Commission (NUC) recommended the siting of the new campus in Erinja.
The meeting considered student intake capacity, funding realities, academic quality assurance, and the long-term needs of the Nigerian Police Force, which is currently recruiting more men.
President Tinubu believes the expansion will strengthen institutional governance, modern policing education and national security.
The People’s Democratic Party (PDP), South West Zone, has disowned a press conference purportedly held in Ibadan on Monday, which claimed that the zone had condemned the former governor of Ekiti State, Ayodele Fayose, declared support for Governor Makinde of Oyo State and loyalty to a Turaki-led National Working Committee.
In a statement issued on Monday, the Zonal Publicity Secretary, Akinloye Oyeniyi, described the event as the work of organised impostors who do not represent the party at any level.
“The Zonal Chairman, Engr. Deji Doherty, was away in Abuja attending the 108th meeting of the National Executive Committee of our great party and no zonal officials held any press conference. The claim of an Ibadan press conference is therefore a barefaced lie,” Oyeniyi said.
The statement said those behind the Ibadan gathering do not speak for the party, hold no mandate, and are not recognised by any organ of the PDP from ward to national level.
Oyeniyi further said the illegality of the group was very pronounced, noting that they do not even have a Zonal Vice Chairman, which is very significant for any structure claiming to speak for the PDP South West.
“These are the ones whose agenda was to destabilise the party but they failed. Looking at them, one could see that their group is now a psychiatric ward with no staff. Destabilising elements always end up as wanderers. Karma never forgets, and wickedness by default carries consequences too,” the statement read.
According to Oyeniyi, “these ones slung toboggan, and now the stones are expectedly raining on them, and their current noise and theatrics will not substitute for acceptance by party members or the public.”
The PDP South West said its loyalty to the Abdulrahman-led National Working Committee and the National Leader, His Excellency Nyesom Wike remains unalloyed and also advised the impostors to retrace their steps and rejoin the party through the proper channels, rather than constituting themselves into a nuisance, as no amount of media stunts or paid propaganda will confer any legitimacy on illegitimacy.
He urged the general public, party faithful, and the media to disregard the publication, stating that official communications of the PDP South West Zone would continue to come only through recognised party channels in the zone under the leadership of Engr. Deji Doherty.
Iran executes two men over spying for Israel
Tinubu approves N15bn take off grant for new police academy
PDP South West Disowns Ibadan Press Conference, Calls Organisers Criminal Impostors
-
News24 hours agoFull List: Items You can no longer Import into Nigeria
-
News24 hours agoJAMB releases results of 1.8m UTME candidates
-
News24 hours agoSSANU plans indefinite strike as April 30 renegotiation deadline approaches
-
News24 hours agoTerror ‘kingpin’ killed as troops arrests suspects in Nasarawa, Benue, Kwara
-
News24 hours agoNCA demands arrest of Islamic cleric over alleged bounty on pastor
-
News16 hours agoEl-Rufai issues public alert in prison
-
News20 hours agoTinubu reforms shift Nigeria from fragility to growth as global pressures mount(Photos)
-
News24 hours agoFCCPC warns firms over non-compliance in mergers, acquisitions, business combinations
You must be logged in to post a comment Login