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BMW Q1 net profit edges up despite currency headwinds Despite a hit from currency headwinds on its top-line, BMW profits expanded slightly in the first quarter as margins unexpectedly climbed. The Munich-based premium carmaker said first quarter revenues fell 5.1 per cent from a year ago to €22.7bn, owing to "unfavourable exchange rate effects," but net ...
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Nigeria, China seal $2.5b currency swap deal Nigeria and the People's Republic of China have sealed a $2.5 billion (Renminbi (RMB) 16 billion) currency swap deal. The agreement, which is purely an exchange of currencies, will make it easier for Chinese manufacturers seeking to buy raw materials from Nigeria to obtain enough Naira from banks ...
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