Business
China’s central bank says opens up $70.6 bn in liquidity to boost market
China’s central bank boosted support for markets on Thursday as it launched a “swap facility” offering firms access to $70.6 billion in liquidity as Beijing seeks to raise confidence in the country’s flagging economy.
The programme will allow “qualified… companies to exchange bonds, stock ETFs, CSI 300 constituent stocks and other assets with the People’s Bank of China for high-grade liquid assets such as treasury bonds and central bank bills”, the bank said.
“The scale of the first phase of the operation is 500 billion yuan and can be further expanded depending on the situation,” it added.
“Starting today, applications from qualified securities, funds and insurance companies will be accepted.”
Announcing the plans last month, People’s Bank of China chief Pan Gongsheng said the move would “significantly enhance” firms’ ability to access funds to buy stocks.
The world’s second-largest economy has struggled to regain its footing since the lifting of pandemic measures at the end of 2022.
It faces multiple issues including a prolonged debt crisis in the property sector, chronically low consumption and high unemployment among young people.
In response, Beijing last month unveiled its most aggressive stimulus package in years.
The PBoC slashed interest on one-year loans to financial institutions, cut the amount of cash lenders must keep on hand and pushed to lower rates on existing mortgages.
Several major cities — including Shanghai, Guangzhou and Shenzhen — have also further eased restrictions on buying homes, and top officials including Premier Li Qiang have called for more effective implementation of the slate of measures.
The announcements triggered a blistering rally on stock markets on the mainland and in Hong Kong.
However, investor sentiment cooled after a news conference Tuesday by the country’s top economic planning agency that failed to unveil any more stimulus or provide details on the measures already announced.
Zheng Shanjie, head of the National Development and Reform Commission, said only that Beijing was “fully confident in achieving the goals of economic and societal development for the year”.
He added that “we are also fully confident in maintaining stable, healthy and sustainable development”.
Analysts have warned that more direct state support is needed to boost consumption and achieve the government’s official national growth target of about five percent for this year.
More may be in the offing on Saturday, when finance minister Lan Fo’an is set to hold a briefing on fiscal policy in Beijing.
Authorities said Wednesday that Lan will outline “countercyclical adjustment of fiscal policy to promote high-quality economic development”.
Business
Boris Johnson Says He Feels “Perfectly Safe” in Nigeria, Praises Imo State’s Progress
Former British Prime Minister Boris Johnson has expressed confidence in Nigeria’s security, saying he feels perfectly safe during his visit to the country. His remarks come amid ongoing reports of insecurity in various parts of Nigeria, making his statement a notable endorsement of the nation’s stability in certain regions.
Johnson made the declaration on Thursday, December 4, 2025, while addressing participants at the Imo State Economic Summit 2025 in Owerri, the state capital. He acknowledged having read travel advisories and news reports highlighting security concerns prior to his trip but said his experience has been reassuring.
He said he feels perfectly safe in the country and emphasized that the summit environment and local hospitality contributed to his sense of security. He also asked the audience if they felt safe, receiving an enthusiastic affirmation.
During his visit, Johnson commended Governor Hope Uzodimma and the Imo State Government for their development initiatives, particularly efforts to provide 24-hour electricity. He highlighted the potential of Nigeria as a hub for innovation and economic growth, noting the opportunities presented by emerging technologies such as artificial intelligence.
While his statements have been welcomed by some as a boost to international confidence in Nigeria, analysts caution that the former prime minister’s experience reflects only a controlled and secure environment within Imo State. Several parts of the country continue to face challenges, including banditry, communal conflicts, and kidnappings.
Nonetheless, Johnson’s visit and remarks are significant, sending a positive message to investors and global observers about Nigeria’s potential for stability and progress. They also underscore the contrast between localized experiences of safety and broader security challenges across the country.
Business
Dangote to Uzodimma: Just show me where to invest
By Emmanuel Iheaka, OWERRI
The President of Dangote Group, Aliko Dangote has assured Governor Hope Uzodimma of Imo State that his group will be one of the biggest investors in the state.
Dangote gave the assurance at the opening session of the Imo Economic Summit 2025 in Owerri on Thursday.
The renowned Africa’s industrialist urged Uzodimma to indicate his preferred area of investment and forget the rest.
Dangote described the Imo governor as a personal friend of decades and commended him for providing enabling environment for investment.
“We will be one of your biggest investors in Imo. So, please tell me the area to invest and we will invest”, Dangote declared.
He called on entrepreneurs to always invest at home, adding that foreigners cannot drive the economy of any nation more than the nationals.
“What attracts foreign investors is a domestic investor. Africa has about 30 percent of the world’s minerals. We are blessed,” he submitted.
Dangote reiterated that his refinery was set to launch 1.4 million barrels per day capacity, the highest for any single refinery in the world.
Business
Fabergé egg given as Easter gift to mother of Russia’s last emperor sells for record £22.9m
A diamond-encrusted Fabergé egg that Russia‘s last emperor gave to his mother as an Easter gift has sold for nearly £23million.
Tsar Nicholas II gifted the Winter Egg to Dowager Empress Maria Feodorovna in 1913, five years before he was murdered along with his wife and children after the Russian Revolution.

Tsar Nicholas II

Dowager Empress Maria Feodorovna
The egg went under the hammer at Londonauction house Christie’s yesterday.
An unnamed buyer stumped up £22,895,000, smashing the previous global record of £8.9million that was set in 2007 when the famous Rothschild Egg was sold.
Carved from delicate rock crystal, the Winter Egg is an icy-looking orb studded with around 4,500 rose-cut diamonds, and stands at only five-and-a-half inches (14 centimetres) tall.
Carl Fabergé, the master jeweller whose creations bedazzled Russia, created 50 Imperial Easter Eggs for the then-ruling Romanov family over a 31-year period, making them incredibly rare and valuable.
They were commissioned as Easter gifts in a tradition started by Tsar Alexander III in the 1880s.
Nicholas II, Alexander’s son, had an annual standing order for two Easter eggs to be made for his mother and his wife, until the fall of the Romanovs in the 1917 Russian Revolution.

A diamond-encrusted Fabergé egg that Russia ‘s last emperor gave to his mother as an Easter gift has sold for nearly £23million
Today, only 43 of the Imperial Easter Eggs remain, with seven missing.
The ‘exquisite’ Winter Egg had a pre-sale estimate of more than £20million.
Christie’s Margo Oganesian said: ‘Today’s result sets a new world auction record for a work by Faberge, reaffirming the enduring significance of this masterpiece.’
She added the sale celebrated ‘the rarity and brilliance of what is widely regarded as one of Faberge’s finest creations, both technically and artistically’.
The imperial eggs have enjoyed renewed interest on the art market in recent decades, mainly among wealthy Russians keen to acquire a piece of their country’s history.
Beyond its opulence, it is the ‘technique and craftsmanship’ that makes the Winter Egg exceptional, according to Ms Oganesian.
‘The Winter Egg is truly one of the rarest items that you can find,’ she explained. ‘It’s really hard to comprehend how Faberge created it.’
The egg and its base are sculpted from crystal featuring diamond-encrusted platinum snowflakes.

Carved from delicate rock crystal, the Winter Egg is an icy-looking orb studded with around 4,500 rose-cut diamonds, and stands at only five-and-a-half inches (14 centimetres) tall. Inside, it contains a bouquet of flowers made of white quartz anemones held by gold wire stems, gathered in a platinum basket

The egg and its base are sculpted from crystal featuring diamond-encrusted platinum snowflakes

Tsar Nicholas and his wife, Empress Alexandra, with their five children. They were all murdered in 1918
Inside, it contains a bouquet of flowers made of white quartz anemones held by gold wire stems, gathered in a platinum basket.
Like many other Romanov possessions, the egg bears witness to Russian history. It was transferred from Saint Petersburg to Moscow in 1920 after the revolution.
As with many other Imperial Eggs, it was sold by the Soviet government to generate foreign currency and was acquired by London jeweller Wartski between 1929 and 1933, according to Christie’s.
The Winter Egg was subsequently part of several British collections but was considered lost from 1975, the auction house said in an essay attached to the sale lot online.
‘For 20 years, experts and specialists lost sight of it until 1994, when it was rediscovered and brought to Christie’s for sale in Geneva,’ said Ms Oganesian.
Eight years later, in 2002, it was sold again for a record $9.6 million in New York.
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