November
NESG: Nigerian economy to beat IMF growth forecast in 2021
The Nigerian Economic Summit Group has predicted a growth rate of 2.9 per cent for the Nigerian economy in 2021, higher than the 1.5 per cent growth rate suggested by the International Monetary Fund. The NESG identified eight key policies and events that will help shape the outlook of Nigerian economy in 2021. This is contained in the group’s 2021 Macroeconomic Outlook Report titled, “Four Priorities for the Nigerian Economy in 2021 and Beyond,” launched virtually on Tuesday. According to the report, for Nigeria’s economy to get back on track, the economy needs a high, robust and sustained economic growth that will deliver a significant reduction in unemployment and poverty. The report said the government’s most important agenda in 2021 must be to address these problems as a foundation for...
Myanmar military to hold new elections after one-year state of emergency
The Myanmar military said on Monday that it will rerun the multi-party general elections after a one-year state of emergency declared earlier in the day. The Union Election Commission will be reformed and the electoral process in the parliamentary elections held in November 2020 will be reviewed in accordance with the laws, the military said in a televised statement. “After the state of emergency period, free and fair multi-party general elections will be rerun and the state power will be handed over to an elected party which meets the democratic standards,’’ it said. The statement came after the President’s Office declared a state of emergency which will last for one year in the country. The declaration of emergency, signed by First Vice President U Myint Swe, who is serving as the acting...
U.S. threatens to take action against detainers of Myanmar’s president, others
The U.S. has threatened to take action against those responsible for the detention of State Counsellor Aung San Suu Kyi, as well as President Win Myint in Myanmar. “The United States is alarmed by reports that the Burmese military has taken steps to undermine the country’s democratic transition, including the arrest of State Counselor Aung San Suu Kyi and other civilian officials in Burma (Myanmar). “President (Joe) Biden has been briefed by National Security Advisor Jake Sullivan,” White House Spokesperson Jen Psaki said in a statement. Earlier, Western media reported that Aung San Suu Kyi and President Win Myint were detained along with other members of Myanmar’s ruling party in an early morning military raid on Monday. “We continue to affirm our strong support for Burma’s democratic ins...
WSJ: China’s Ant Group plans revamp amid regulator pressure
China’s Ant Group Co Ltd is planning to refashion itself as a financial holding company under the supervision of China’s central bank in the face of regulatory pressure, the Wall Street Journal reported on Wednesday. The fintech affiliate of Alibaba Group Holding Ltd has submitted an outline of a restructuring plan, which could be finalised before China goes into the week-long lunar new year holiday in mid-February, the Wall Street Journal said, citing sources. Chinese regulators had asked Ant to consider folding up most of its financial businesses into a holding company that would be subject to more stringent capital requirements, two sources told Reuters in December. The country’s central bank, People’s Bank of China, has said Ant controls a range of financial institutions, including sec...
Napoli star Victor Osimhen recovers from coronavirus
Serie A club Napoli have announced Victor Osimhen has recovered from coronavirus. Osimhen, 22, is also expected to start individual training on Saturday following a shoulder injury according to Sky Sport Italia. The forward tested positive for COVID-19 upon his return from Christmas holiday. Napoli confirmed that the Nigeria international received a negative result from the last swab test. “Victor #Osimhen has recovered from #COVID19 💪, “reads a tweet on the club’s official Twitter handle on Friday. The former Lille of France striker dislocated his shoulder while on international duty with Nigeria in November 2020. Osimhen has not played for Napoli since he scored the winning goal against Bologna on November 8, 2020. He has scored twice in eight league appearances for the Partenope...
Uganda’s Yoweri Museveni in commanding election lead, rival alleges fraud
Uganda’s long-time leader Yoweri Museveni held a commanding lead in a presidential election according to partial results on Saturday morning, with final results expected later in the day, though his main rival Bobi Wine alleged widespread fraud. With ballots from 86% of polling stations counted, Museveni had won 5.3 million, or 58.8%, while main opposition candidate Wine had 3.1 million votes (34.6%), the electoral commission said just after 9 a.m. (0600 GMT). The government ordered the internet to be shut down the day before voting on Thursday, and the blackout was still in place. Wine, 38, had galvanised young Ugandans with his calls for political change after 35 years of Museveni, 76, ruling the country. The run-up to the election was more violent than in previous polls. Security forces...
Mikel Arteta delighted with new football chief appointment
Arsenal boss, Mikel Arteta, is delighted with the imminent arrival of new football chief Richard Garlick. Arteta has revealed his excitement at the appointment of Richard Garlick as the club’s director of football operations. Garlick, who currently holds the role of the Premier League’s director of football, will replace Huss Fahmy, who left the Gunners board in November. “We lost Huss at the start of the season,” said the Spaniard. “He had a really important role because it is a very important link between myself, Edu the technical director, the board, Vinai [Venkatesham]. “We needed a person with a lot of experience, who knows the job really well, has all the connections in English and international football. “As well, someone that can bring some ideas and some qualities that we believe ...
Nigerian government seizes bank’s assets over Shell’s N183 billion debt
File Photo Nigerian government have moved to sequester the assets of the country’s premier lender First Bank of Nigeria Limited in an effort to recover the damages oil major Royal Dutch Shell owed the Ejama Ebubu community of Rivers State in a legal contest spanning many decades, Bloomberg reported Thursday. Police operatives and court officials arrived the bank’s main branch in Port Harcourt on Tuesday to execute an order to seize the lender’s asset, FirstBank said in a statement. The bank said the incident leading to the confiscation of its properties was “unjustified, illegal and a reckless misuse of the machinery of justice.” Lagos-headquartered FirstBank resolved to guarantee the damages awarded against Shell by a Rivers State high court judge a decade ago. According to the estimation...
China possibly committed ‘genocide’ against Xinjiang Muslims
The Congressional-Executive Commission on China (CECC) said on Thursday that new evidence had emerged in the past year that “crimes against humanity – and possibly genocide – are occurring”. The CECC also accused China of harassing Uighurs in the US. China has been widely condemned for setting up complexes in Xinjiang that it describes as “vocational training centres” to stamp out “extremism” and give people new skills, but others have called them concentration camps. The United Nations says at least one million Uighurs and other Muslims have been detained in Xinjiang. Faith leaders, activist groups and others have said crimes against humanity, including genocide, are taking place there. Beijing denies abuse accusations. The CECC report called for a formal US “determination on whether atro...
Iran’s smog, blackouts made worse by power-sapping crypto mining
Outages have been compounded by cryptocurrency mining, which uses banks of high-powered computers. Cities across Iran have been cloaked in thick layers of toxic smog and darkened by blackouts, as the alleged use of low-quality fuel and power-sucking cryptocurrency mining deepen the country’s hardships. Tehran’s Hamshahri newspaper, the country’s most-read daily, ran the headline, “20 Days Living in Smoke,” on Wednesday over a photo of the capital covered in smog. Power plants have been forced to switch to burning low-grade fuel oils to generate electricity because high levels of domestic consumption have led to natural-gas shortages, the semi-official Iranian Students’ News Agency reported. Oil Minister Bijan Namdar Zanganeh denied earlier this week that any of Iran’s power stations are us...
Aston Villa winger Trezeguet tests positive for coronavirus
Mahmoud Hassan ‘Trezeguet’ has tested positive for coronavirus, the Aston Villa star has confirmed. Since his head injury during an English top-flight game where the Claret and Blue Army stuttered to a 2-1 defeat by West Ham United in November 2020, the Egyptian is yet to feature for the Villa Park giants. The 26-year-old went down under the challenge of Declan Rice while trying to connect to Douglas Luiz’s flick in the 71st minute. Upon his return to first-team training at their Bodymoor Health training ground on Thursday, Trezeguet contracted the virus alongside several first-team players and staff. “After being hit in the head with six stitches, I was exposed to a tear and a hindquarter and I was not able to play for a month, then after rehabilitation and the beginning of the return to ...
Anti-coup protests ring out in Myanmar’s main city
The din of banging pots and honking car horns reverberated through Myanmar’s biggest city of Yangon late on Tuesday in the first widespread protest against the military coup that overthrew elected leader Aung San Suu Kyi. The party of the detained Nobel Peace laureate called for her release by the junta that seized power on Monday and is keeping her at an undisclosed location. It also demanded recognition of her victory in a November election. A senior official from her National League for Democracy (NLD) said he had learned she was in good health a day after her arrest in a military takeover that derailed Myanmar’s tentative progress towards full democracy. The U.N. Security Council was due to meet later on Tuesday amid calls for a strong global response to the military’s latest seizure o...