Over 6,000 jobs lost to foreign firms’ exit, MAN fumes
No fewer than 6,000 jobs are expected to be lost as five notable companies shut their production factories in Nigeria. Preliminary checks by The PUNCH indicate that the departure of the five companies means approximately 6,000 direct and indirect jobs may have been lost. At the top of the list of factors that have influenced the exit of international firms from Nigeria is the acute scarcity of foreign exchange. The LCCI also implores the government to create a more flexible and transparent foreign exchange policy to address scarcity issues. An economist, Alias Aliyu, in an exclusive interview with The PUNCH, has voiced serious concerns regarding the widening gap between the naira and dollar exchange rates.
Source:Punch
December 12, 2023 02:59 UTC
Russia to hold presidential elections in cccupied Ukraine
The Central Elections Commission said voting in March would go ahead in Donetsk, Lugansk, Zaporizhzhia, and Kherson—regions of Ukraine over which Russia still does not have full military control. Ukraine earlier urged the international community to “resolutely condemn Russia’s intention to hold presidential elections in the occupied Ukrainian territories.”. Russia has previously held elections in occupied regions of Ukraine, with votes denounced by Kyiv and the West as null and void. Moscow held ballots for local officials in the four Ukrainian regions in September. Russia unilaterally annexed the Crimean peninsula from Ukraine in 2014 and has held ballots there since.
Source:Nigerian Tribune
December 11, 2023 23:00 UTC
Kidnapped Nasarawa varsity students regain freedom
The seven kidnapped students of the Federal University of Lafia, Nasarawa State, have regained their freedom. Confirming the release of the kidnapped students to journalists in Lafia on Monday, the institution’s Head of Information and Public Relations, Abubakar Ibrahim, said the students were released around 8 pm on Sunday. “Yes, the students have regained their freedom and they have been reunited with their families after medical examination and counselling”, Abubakar said. Ibrahim added that all the students had been reunited with their families after undergoing medical examinations and counselling. Meanwhile, when contacted to get the reaction of the Nasarawa State Police Command on the matter, the state Police Public Relations Officer, DSP Ramhan Nansel, said the command was not informed about the kidnap or release of the students.
Source:Punch
December 11, 2023 17:49 UTC
Video: Shannen Doherty Discusses ‘Brutal’ One-Two Punch of Cancer Diagnosis and Divorce (Exclusive)
Ukrainian President Volodymyr Zelenskiy said he had a "frank" conversation with Hungarian Prime Minister Viktor Orban on the sidelines of the inauguration of Argentine President Javier Milei on Sunday (December 10). A video on the Argentine Senate's YouTube channel showed Zelenskiy and Orban conversing for about 20 seconds as they mingled with other guests in the Argentine parliament, ahead of an EU summit on Dec. 14-15, set to decide whether to start membership talks with Ukraine. " It was as frank as possible - and obviously, it was about our European affairs," Zelenskiy said in his nightly video address posted on the Telegram channel early on Monday (December 11). The meeting took place against a backdrop of Orban's threatening to block more European Union financial support to Kyiv, his opposition of Ukraine's entry to the bloc and the White House intensifying its push for Kyiv aid after Republicans blocked an emergency spending bill to fund the war. Orban's press chief Bertalan Havasi confirmed the meeting in an email that did not address whether the Hungarian leader would continue to oppose Ukraine's entry to the European Union.
Source:Punch
December 11, 2023 17:40 UTC
Local production of weapons will save revenue – Rep
Benson, who sponsored the bill, said with the signing, Nigeria might become an exporter of weapons, thereby generating foreign currency. Nigeria has been involved in the Boko Haram war for a long while and the lessons learned should not be thrown away. A lot of light weapons and things that are imported into the country will now be manufactured locally. That said, the lawmaker assured Nigerians that the 2024 defence budget would be thoroughly monitored to ensure value for money. We are fashioning out a model that will ensure thorough and efficient supervision of the defence budget for implementation.
Source:Punch
December 11, 2023 17:07 UTC
India's Supreme Court upholds revocation of Kashmir's autonomy | The Guardian Nigeria News - Nigeria and World News
India’s top court on Monday upheld a move by Prime Minister Narendra Modi’s government to revoke the limited autonomy of Muslim-majority Kashmir, where an insurgency has raged for decades. The 2019 declaration was “a culmination of the process of integration and as such is a valid exercise of power”, the Supreme Court said in its verdict. The move was challenged by Kashmir’s pro-India political parties, the local Bar Association and individual litigants, culminating in Monday’s verdict. The court upheld removing the region’s autonomy, but said Jammu & Kashmir should be restored to the same statehood as any other Indian state — with no separate autonomy rights — “at the earliest and as soon as possible”. The court ordered state elections to take place by September 30, 2024.
Source:The Guardian
December 11, 2023 16:21 UTC
Now that the draft UNSC resolution on ceasefire in Gaza has collapsed
WITH the US veto of the UAE draft resolution on humanitarian ceasefire in Gaza, it has become clear that the solution to the current conflict in the territory may not lie with the UN. The implication of the US veto of the UAE draft resolution is that the carnage in Gaza, which started October 7, 2023, may continue unabated. Lest we forget, the primary objective of the Israeli government in invading Gaza is the complete annihilation of Hamas. It will, at best, remain a mere façade to justify the continued destruction of innocent life and infrastructure in Gaza by the Israeli Defence Forces (IDF). That leaves Turkiye as a possible candidate for redeeming the increasingly desperate situation in Gaza.
Source:Nigerian Tribune
December 11, 2023 14:07 UTC
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In 2023, bold EV strategies took a punch from reality
As the year closes, legacy automakers as well as Tesla (TSLA.O), Rivian (RIVN.O) and other EV startups are throttling back investments and reworking product strategies. Legacy automakers are appealing to policymakers for more help to offset the high costs of the EV transition, on top of billions of dollars already pumped into EV subsidies. In China, Europe and the United States - the main EV markets - electric-vehicle demand is still growing faster than demand for vehicles overall. Global EV production is on track to triple by 2030 to 33.4 million vehicles, about a third of total production, according to AutoForecast Solutions. For most legacy automakers, that has so far proven impossible.
Source:Punch
December 11, 2023 12:56 UTC
Etisalat by e& partners Huawei to unveil first Net-Zero 5G Massive MIMO site at COP28
Etisalat by e& has partnered with Huawei to unveil the first net zero 5G Massive MIMO site deployment in the MENA region. Powered entirely by renewable energy, this 5G site represents the convergence of sustainability and cutting-edge wireless technology. According to the management of Huawei, the massive MIMO technology that is the cornerstone of 5G, will improve capacity, coverage and user experience. Chief Technology and Information Officer Etisalat by e&, Khalid Murshed was quoted as saying that “Our partnership with Huawei to launch the region’s first 5G Massive MIMO net-zero site is a testament to our commitment to sustainable innovation. The enduring partnership between Etisalat by e& and Huawei reflects a shared vision for a sustainable future.
Source:Nigerian Tribune
December 11, 2023 10:35 UTC
B’Haram commander, others killed in Niger air strike – NAF
The Nigerian Air Force has said air strikes by the air component of Operation Whirl Punch in Niger State killed a terrorist kingpin identified as Yellow Janbros and other terrorists. The service said the terrorists were trailed from Zamfara to Niger State. He said, “An air strike undertaken by the Air Component of Operation Whirl Punch on Wednesday, 6 December 2023, in the Shiroro Local Government Area of Niger State has neutralised scores of the terrorists, including the dreaded terrorist and kidnap kingpin, Yellow Jambros. “Prior to the strike, Yellow Jambros and his cohorts were trailed from Zamfara State into Niger State riding 13 motorcycles along the Kaduna-Niger State border, precisely heading towards Kusasu in Shiroro LGA of Niger State. The precision strike was adjudged effective as it neutralised Yellow Jambros and his colleagues, destroyed their motorcycles, and sank the boat.
Source:Punch
December 11, 2023 09:04 UTC
Bandits abduct woman, three children in Abuja
Bandits attacked the Zone 5 segment of the Kubwa Extension 2 Relocation Estate along Arab Road in the Federal Capital Territory on Sunday night, kidnapping a woman and her three children, including a six-month-old baby. The PUNCH exclusively reports that the gunmen struck between 8pm and 9pm on Sunday, December 10, shooting indiscriminately and causing pandemonium in the area. Speaking to our correspondent over the development, a resident who preferred not to be named revealed that kidnapping has become a usual occurrence in the area every December. When contacted by our correspondent, the FCT Police Public Relations Officer, SP Josephine Adeh, promised to find out about the development and revert. Meanwhile, the FCT CP, Haruna Garba, did not respond to phone calls by our correspondent on Monday.
Source:Punch
December 11, 2023 08:48 UTC
'A punch in your face' - Pep Guardiola says defeat at Aston Villa a good wake-up call for Manchester City
Football'A punch in your face' - Pep Guardiola says defeat at Aston Villa a good wake-up call for Manchester CityPep Guardiola previews Manchester City’s trip to Luton Town in the Premier League. 00:01:06, 10/12/2023 at 11:57 GMT
Source:Punch
December 11, 2023 00:04 UTC
Biden invites Zelensky to White House Tuesday
President Joe Biden has invited his Ukrainian counterpart Volodymyr Zelensky to the White House on Tuesday. The meeting is coming up after the administration warned it will run out of money for Ukraine aid in weeks unless feuding US lawmakers act. The two leaders “will discuss Ukraine’s urgent needs” as it fights off a Russian invasion, and “the vital importance of the United States’ continued support at this critical moment,” White House Press Secretary Karine Jean-Pierre said in a statement on Sunday. “This cannot wait,” Biden said in an impassioned, televised address at the White House on Wednesday. The funding row underscores signs that Western support for Ukraine is fraying just as Kyiv’s counteroffensive falters and Putin’s forces push for new gains.
Source:Punch
December 10, 2023 23:22 UTC
Imo faces cash scarcity as banks begin low payments to customers
There is a scarcity of money in the commercial banks in Imo State, leading to commercial banks starting to make low cash payments to their customers. This situation has continued to cause concerns for bank customers as they are unable to withdraw the actual amounts they intended to collect from the bank. A bank customer at one of the commercial banks, seeking to withdraw N100,000, was only paid N20,000. The customer stated that the bank staff informed him there was insufficient cash available for the full withdrawal. This situation has sparked panic and disappointment among people, particularly during this festive period when shopping for food items in the market is common.
Source:Nigerian Tribune
December 10, 2023 17:08 UTC
Publishers call for revival of paper industry
The problems of Nigeria’s distressed paper industry and urgent redress to avoid damaging revenue loss took centre stage at the 2023 Annual Conference/General Meeting of the Nigerian Publishers Association (NPA). It is a well-known fact that the country’s major paper mills, Nigeria Paper Mill Limited, Jebba, Kwara State; Nigerian Newsprint Manufacturing Company Limited, Oku-Iboku, Akwa Ibom State; and Nigerian National Paper Manufacturing Company Limited, Ogun State, have closed shop, with only a few others operational. The book industry, including publishers and newspapers, is reeling under the prohibitive cost of importing newsprint, which has further reduced profit margin. Per the National Bureau of Statistics data, Nigeria imported paper and its allied products worth N296.696 billion between July and December 2021. Oladele further recommended influencing the federal government to declare a state of emergency on paper and establish a Paper and Graphics Development Commission.
Source:Nigerian Tribune
December 10, 2023 16:54 UTC