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Daily Newswatch

10

World Report MONDAY, JULY 1, 2013

Reduction of trade privilege angers Bangladesh

B

angladesh has criticised the decision by the United States to cut trade privileges in the wake of a deadly garment factory collapse, insisting it had taken concrete action to ] \ W[X^ W b

“It cannot be more shocking for the factory workers of Bangladesh that the decision to suspend Generalized System of Preferences (GSP) comes at a time when the government of Bangladesh has taken concrete and visible measures to improve factory safety

and protect workers’ rights,” a foreign ministry X ^ W W [X^]`[\ [ ]`^ b W[ b b[ ^`[^ \ VW`[ a day earlier that it was removing duty-free trade which had been accorded to Bangladesh under GSP programme, citing dangerous conditions for

workers after more than 1,100 people were killed in ^[ ^V \ [`]X^X W [] [ ]_b []X[^[ b b[ \ ^ W[ that eliminates duties on imports from 127 countries to aid their develop W b The cut means importers of some Bangladesh prod-

ucts will now have to pay duties on them to bring W [ ] \[ W[ b b[ ^ `[ ]X[ also an embarrassment to the government which declared a series of safety initiatives after the April 24 disaster at the Rana Plaza garment factory complex, W^ [ ^ ^b

Although the GSP programme does not cover the garment industry, the decision will increase the pressure on Dhaka to take credible moves to increase workplace safety after a series of disasters in the sector which accounts for 80 per cent of its $25 billion W« \ Xb

Cameron begins talks with Pakistani president W^VW[`W^_[¡¢[ W^ X[^ \b “The British Prime Minister has arrived in Islamabad and held talks with the President,” a senior PakiX ^ ][ \ W W [ \4V]^_[ told the AFP news agency \ [ ^ `^ b “Regional situation with reference to peace and WV\ V]_]^ ]\ [ W;\ X[ ] [ neighbouring Afghanistan and economic cooperation between Britain and PakiX ^ [ ^ `[ \ W [ ^<W X[ \ [ mutual interests were discussed during the talks,” W[\4V]^_[X^]`b

During his two-day stay in Islamabad, Cameron will hold “wide-ranging” ritish Prime talks with the top Pakistani Minister, David _W^`W X ] Y[ W[X^]`b Cameron, has arAnother government ofrived in Pakistan V]^_[ X^]`[ ^ W \ [ £^X[ for talks with also expected to hold talks President Asif Ali Zardari with his Pakistani counteron the Afghan peace proU.S. Secretary of State John Kerry (1st right) meets with Israeli Prime Minister Benja- VWXXY[\4V]^_X[X^]`b part Nawaz Sharif yestermin Netanyahu (2nd left) during a dinner in Jerusalem, at the weekend. `^ b Cameron, who arrived in Farhatullah Babar, a Pakistan at the weekend, presidential spokesman, made an unannounced said Zardari “emphasised visit to Afghanistan on the that Pakistan all along has same day, backing talks maintained a constructive with the Taliban after his approach and believes that top general said the West dialogue and reconciliation missed a chance to strike a was the only war forward nited States State, in a continuing ef- Saturday said Kerry has towards ensuring durable Secretary of fort to get both parties agreed with Netanyahu W^VW[] [ ^ ]X ^ b State John back to the negotiation ta- and Abbas to conduct a “The president welKerry at the _Wb[ \[ ^ Y[ \[\4V]^_[X ^ W- four-way summit, with V\ W`[ W;\ X[ W] [ ^`W[ representing w e e k e n d ments have been issued members \ [ `] [ ^[ W^VW _[ X\started his third meeting by either side regarding Israel, the Palestinian Nalution to the long drawn in 48 hours with Israeli W[ X [ £\[ WW ] X[ W- tional Authority, Jordan Prime Minister Benjamin tween Kerry and Netan- and the United States, d e l e g a t i o n in the country and what the V\ ¥]V [] [ ^ ]X ^ b[ W[ which may be held next Netanyahu, his latest ^ b of the Arab Arab League as a regional expressed the hope that move in seeking to revive Jordanian media on £WW [] [ ^ b League on organisation can provide to W[ W;\ X[ ^`W[ £\ _`[ long-stalled Israeli-PalesSaturday held Libya at this stage of transi- also take into account le ] ]^ [ W^VW[ ^_ Xb d i s c u s s i o n s tion from the revolution to gitimate concerns of all the A diplomatic source in with the Libyan Foreign provide assistance to the stakeholders,” Babar said ] [^[X ^ W W b Jerusalem told Xinhua Minister Mohamed Abdul X ^ W[] X ] ]\ Xb Cameron visited Britprior to the meeting that Aziz in Tripoli about the poForeign Minister Mothe talks between Kerry litical and security situations hamed Abdul Aziz said in ish troops in the Afghan Snowden’s case with nited States and Netanyahu “might in Libya and other Arab a press statement that dur- southern province of HelVice Presi- Correa but declined to lead to a breakthrough Spring countries, including ing the meeting the two mand earlier on Saturday dent Joe \ ]`W[`W ^]_Xb and the resumption of the sides exchanged views in and met President Hamid [ \£`W [¥W`[ \[ \ [ W[V ^__W WX[ ^V] [ W b Biden has W^VW[ ^_ Xb The Arab League delegaall issues important to Libya Karzai as Afghanistan and spoken to Kong and then disclosed Kerry has been on a tion, headed by the Deputy including the security as- international powers try to president key documents about the W ] W[ W^VW[W;\ X[ ^ [ W ^V [ ^ `[ \ [ X <_W[ \ [ Ecuador’s surveillance programmes Secretary General of the WV Y[ \£[ \[ ]_`[W;WV ] W[ VW _ [V\__^ XW`b[[ about Edward Snowden, intense talks with Israeli being conducted by the Arab League Ahmed Ben criminal justice, to help actithe fugitive former intelIn February, Cameron leaders in Jerusalem and secretive National Secu- Helli, is visiting Libya to be vate the courts and prisons Palestinian leaders in Am- ligence contractor who is rity Agency to thwart ter- informed about the latest se- in line with international hosted Zardari and Karman, Jordan in the past 48 seeking asylum in Ecua- \ ]X b curity and political situation standards, in addition to zai to agree on a peace hours and postponed a `\ b national reconciliation and roadmap with the Taliban President Rafael Correa planned trip to the United encouragement of national £ \XW[ \4VW[ ] [ ^ ^ [ ^ [ opened on June 18 was Arab Emirates, which was says Biden asked him to `]^_\ Wb supposed to start on Sat- reject the asylum request The minister pointed out meant to foster talks but from Snowden, who is `^ [ ] b that the talks focused also instead triggered a diploKerry was also ready wanted by the United ran’s Army will hold quoted as saying by Press on the participation of the matic bust-up when the States for leaking inforto meet with Palestinian Arab League in the process Taliban used the title of a military drill in the b President Mahmoud Ab- mation about secret sur\ [ W_WV ] [ W[ V\ ]<WW[ the “Islamic Emirate of Afsouth eastern part of the Iran’s army, in cooperabas for a third time on W]__^ VW[ \ ^ WXb of 60 because it had played ghanistan” from their 1996country in mid-October, tion with police forces, has President Correa reSunday if it would help a role in the previous elec- ©¢¢¡[ W] Xb Iran’s Army Ground full control over the security Karzai, furious that the push forward the Middle vealed details of his con- Forces Commander, Ah- of the borders of the country, tions as an observer, the East peace process, ac- versation with Biden dur- mad-Reza Pourdastan, an- X^]`[ \ `^X ^ b role of the Arab League to \4VW[ £^X[ W] [ X _W`[ ^X[ cording to an anonymous ing his weekly address on \ VW`[ WX W `^ b Every year, Iran’s armed assist Libya in its relations an embassy for a govern b b[ ^ W[ W ^ W [\ - ^ `^ b[ \ W^[ X^]`[ W[ “This drill will be held in a forces and the Islamic Revo- at regional level and how to W ª] ªW«]_WY[ \ W[\;[ ]spoke to the vice presi V]^_b vast area of the southeast and lution Guards Corps con- mobilise support politically lateral security talks with [ ]X[]X[ W X[ [ ]X] [ `W [\ [ ]`^ b with the African Union, the the Americans and threat[ ] W[ \ XW[ \4V]^_X[ tactics as well as methods of duct manoeuvres jointly or in the region since he took European Union and other W W`[ \[ \ V\<[ ^ [ W^VW[ asymmetric warfare will ] `W W `W _ [ ] [ `];W W [ \VWXX[^_ \ W W b \4VW[ ^X[ b b[ WV W ^ [ \ [ say Biden discussed be tested,” Pourdastan was ^ X[\ [ W[V\ b W ]\ ^_[\ ^ ]X^ ]\ Xb Stories by Chris Uba

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Iran to hold military drill in mid-October

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Daily Newswatch

African Report MONDAY, JULY 1, 2013

Obama ‘deeply humbled’ after visiting Mandela prison in Robben Island . Pays tribute to ailing anti– apartheid icon Stories by Chris Uba

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resident Barack Obama was “deeply humbled� by a visit to the cell where Nelson Mandela spent years as a prisoner in a solemn homage yesterday to the critically ill hero he was unable to see in Pretoria. The U.S. leader paid tribute to Mandela and other anti-apartheid inmates of Robben Island, who “refused to yield� in the face of racist white minority rule. Obama, accompanied by his wife Michelle and young daughters Sasha and Malia, visited the bleak lime quarry where 34 anti-apartheid leaders — including Mandela — endured hours of backbreaking work. He stood alone, looking out the barred window of the small damp cell where Mandela spent two thirds of his 27 years in prison, the darkest days of his detention. After touring the sandy wind-swept island, Obama took a few minutes to write a note in the visitors’ book. “On behalf of our family we’re deeply humbled to stand where men of such courage faced down injustice and refused to yield,� he wrote. “The world is grateful for the heroes of Robben Island, who remind us that no shackles or cells can match the strength of the human spirit.� Mandela’s continued hospitalisation has cast a pall over Obama’s much awaited three-nation visit to Africa. Obama will later make Mandela the keystone of an address at the University of Cape Town, citing his unifying legacy as a blueprint for a new generation in emerging Africa. Mandela’s illness placed Obama in a tricky political spot, forcing him to balance his desire to push for a new economic relationship with Africa, with the need to properly honour his hero, who has been in intensive care for more than three weeks. On Saturday, Obama

and his wife Michelle called Mandela’s wife Graca Machel, and the president then privately visited several daughters and grandchildren of ^€`W_^Y[ƒ\[\;W„[X ��\„ƒ[ and prayers. But he decided against rolling up in his massive entourage at the Pretoria hospital where the 94-year-old Mandela lies, worried that he would disturb his peace.“I expressed my hope that Madiba draws peace and comfort from the time that he is spending with loved ones,� Obama said in a statement using Mandela’s clan name. Machel said she drew “strength from the support� of the Obama family. The example of Mandela, who became South ‰„]V^žX[ �„Xƒ[ ›_^V˜[ �„WX]dent, drew Obama into �\_]ƒ]VX[ ‰\„[ ƒ‡W[ �„Xƒ[ ƒ]ŠW[

]€[ƒ‡W[¥œ¡¢XY[Â? <]€ˆ[‡]Š[ on a path that would lead to his own piece of ‡]Xƒ\„‚[^X[ ŠW„]V^žX[Â?„Xƒ[ black president. “The struggle here against apartheid, for freedom, Madiba’s moral courage, his country’s historic transition to a free and democratic nation, has been a personal inspiration to me,â€? Obama said Saturday in Pretoria. “It has been an inspiration to the world.â€? South African President Jacob Zuma said after talks with Obama that Mandela remained in a “critical but stableâ€? condition with a recurring lung infection. And he said that Obama and Mandela were “bound by historyâ€? after breaking racial barriers to rise to power. “You both carry the dreams of millions of people in Africa,â€? Zuma,

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who also spent 10 years on Robben island, told Obama. South Africa’s last apartheid president FW de Klerk meanwhile cut short a visit to Europe because of the ailing health of his co-Nobel Peace Prize winner. Obama’s warm welcome however was not universal. Riot police �„W`[ „ ››W„[ › __WƒX[ ^€`[ stun grenades at about 300 hundred anti-Obama protesters on Saturday in the township of Soweto,

\€VW[ ^[ ÂĽ^X‡Â?\]€ƒ[ ]€[ ƒ‡W[ anti-apartheid struggle. His tour of Senegal, South Africa and Tanzania is aimed at changing perceptions that he has neglected Africa since his election in 2008, while also countering China’s ˆ„\ÂŁ]€ˆ[ WV\€\Š]V[ ]€¼ ence in the resource-rich continent. Yesterday, a day ringing with political symbolism, the U.S. president was expected to walk in revered footsteps when

he gives a speech at the University of Cape Town — those of slain U.S. presidential candidate Robert Kennedy, brother of assassinated President John F. Kennedy. RFK gave his famed “ripple of hope� speech at the same venue in 1966, which was a call for non-violent change and equality, at a time when America was still dealing with the racial discrimination which stained its own history.

No China-U.S. rivalry in promoting Africa’s development

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nited States President B a r a c k Obama, the first black president of the world’s superpower, is finally in Africa. His on-going threenation tour to Senegal, South Africa and Tanza-

nia, his first substantial visit to the continent since taking office in 2009, offers the U.S. leader an opportunity to get first-hand experiences of both Africa’s aspirations for development and the daunting challenges facing the continent. It is worth noting that

two of Obama’s destinations, namely South Africa and Tanzania, also hosted Chinese President Xi Jinping in March during the leader’s maiden overseas tour since assuming presidency. Some Western observers might see the coin-

cidence as symbolic, which testifies to the perceived rivalry between the world’s two largest economies competing for business opportunities and political influence on the African continent. This mentality belongs to the past. It re-

sults from the West’s biased perception of China’s role in Africa. It also misses the bigger picture in which Beijing and Washington, instead of being competitors undermining each other’s efforts, can actually work as partners in promoting Africa’s development. The last decade has seen a spectacular rise of China’s presence in Africa. Top leaders of China Ibrahim Haji Jama Mead, Shabab leader Ahmed and Africa are exchangAbdi Godane. ›W<W„[˜€\£€[›‚[‡]X[€]V˜ing visits. Big Chinese Godane, who the U.S. name “Al-Afghaniâ€? (the companies are busy with Afghan) due to his train- ‡^‘W[ \;W„W`[ º¡ÂŠ]__]\€[ investing in industrial for, earlier this month ]€ˆ[^€`[Â?ˆ‡ƒ]€ˆ[ƒ‡W„Wb and infrastructure pro ^X‡]€ˆƒ\€[ \;W„W`[ ordered the arrest of Afjects across the continent. a $5million bounty for ghani and at least a dozen Chinese businessmen, Afghani, who opposed other leaders, according workers and tourists are the command of top al- to security sources. also increasingly seen in African countries. The West, especially the United States, tend to see China as a vorafluenced by his desire to defy July 31. cious industrial giant His first two decades in pow- only interested in exmachinations by the West to cause regime change in Zimba- er were largely characterized by tracting Africa’s natural a cordial relationship with the resources to support its bwe. Mugabe, 89, has ruled Zim- Westanditwasonlyoverthelast own economic developbabwe uninterrupted since the 10 years that relations between ment. They have never country’s independence from the two took a downturn after fully grasped the real inBritain in 1980, and is seeking Harare took land from white fluence of China’s extenre-election for another five-year farmers for redistribution to the sive investment and aid term in national elections set for landless black in the country. efforts in Africa.

Al-Shabab fighters killed in factional feud

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omalia’s armed group al-Shabab has killed two of its own top commanders, one with a U.S. bounty on his ‡W^`Y[ Â?ˆ‡ƒW„X[ ›W_\€ˆ]€ˆ[ ƒ\[ ƒ‡W[ ^_ÂŞ ^W`^ÂŞ^4_]^ƒW`[ \ ƒÂ?ƒ[X^]`b A third commander, Sheikh Hassan Dahir Aweys, was said to be ar„WXƒW`[ £‡]_W[ ÂĽWW]€ˆ[ ƒ‡W[ ]ۻÂ?ˆ‡ƒ]€ˆ[ ^€`[ ÂĽ\£€[ ƒ\[ the capital, Mogadishu, on Saturday. Aweys, who is on the UN’s terrorism sanctions list, has apparently agreed to talks with the internationallybacked government. “We have informed their widows of their deaths, as they must

now wear the clothes of mourning,� al-Shabab spokesman Abdulaziz Abu Musab told AFP news agency. The pair killed, were the two co-founders of the al-Qaeda-linked group, including U.S.-wanted

Mugabe says to retire not at instigation of West

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imbabwe’s President Robert Mugabe says in a rare interview published Friday that he has plans to retire in the future but not at the instigation of the West. He said his 33-year stay in power has largely been in-

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15

Daily Newswatch

BUSINESS monday, july 1, 2013

Royal Jordanian to commence flights to Lagos -?@x,1$ 2.3$1.?

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oyal Jordanian is set to launch its inaugural airline’s hub in Wednesday this week. The carrier will operate the route twice weekly with its !"# $$#% & '

( ) *# + , + - + % Royal Jordanian had last it would add two new destinations to its route / 0 % & 1 2 +' 34 5 +' ) 5 ) ' ) 6 /

/ % 5 ) /

+ , % 0 + & & 0 7 ( ) , % 8 7 ' to bring Jordan closer to religious and business groups ,

) 5 ) % 7 ( ) ' background and the 9 / / ) 6 )

between the two countries. : ( ) 9 / 7 *# destinations Royal Jordanian has a strong network around the One world alliance which

technical capacity. 8

) the holy sites in Jordan will

+ & & working with tour operators /

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Royal Jordanian with their 07 ; + & & ) < ) packages is distributed to all , %

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Nigeria receives N2.08trn from global agencies

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] W ]^[ ^X[ W V W ] W `[ ©b¢¼[ ]__]\ [ ½º¡¾[ ]__]\ ¿[ from the ] W ^ ]\ ^_[ `\ \ [ ^ W V]WX[ `W [ W[ \ [ XX]X ^ VW[ ^ W£\ [ ½ ¿[ ] [ W[ last one year. VV\ `] [ \[ ^[ W \ [ \ [ [ \ ^ W[ \ [ ] W ]^Y[ W[ `[ £^X[ ] WX W`[ ] [ ^ ]V _ WY[ £^ W [ ^ `[ X^ ] ^ ]\ Y[ \ W ^ VWY[ W ] \ W Y[ ] ^X V WY[ ^ [ `W W_\ W [ ^ \ [ others. A breakdown of the `]X ] ]\ [ \ [ W[ `X[ X \£X[ ^ [ ]V _ W[ WVW] W`[º¡b¾¾[ ]__]\ Y[£^ W [ X^ ] ^ ]\ [À[º¡b·¶»[ ]__]\ Y[ \ W ^ VWªº¡b¼¶[ ]__]\ Y[ ] ^X V Wªº¾b·© ]__]\ Y[ ^ [ `W W_\ W [ WOLE TOKEDE Group Business Editor woletokede@gmail.com woljotoks@yahoo.com 08033181574 08099758406

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CAF seeks to support ^X[ ^[ X ^ Wª_W W_[ _^ \ [ \ [ `]XXW ] ^ ]\ [ \ [ \£_W` W[^ `[W« W ]W VW[

COMMODITIES

EXCHANGE RATES USD - 155.74 GBP - 237.5188 Euro - 203.7366

Brent Crude - US$ 102.16 Gold - US$ 1234.53 Cocoa - US$ 2,164.00

^ `[ \ ]X]\ [ \ [ ¥W«] _W[ X \ [ \[ X W W [ W[ V^ ^V] [ \ [ X ^ Wª_W W_[ systems.

Heirs Holdings invests in NASD trading platform

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W] X[ \_`] X[ V\ª \ `W`[ £] [ W[ ª ^XW`[ W W [ \_`] XY[ ]X[ ^ \ VW W [ W WXW X[ ^ \ W [ X] ] V^ [ \ W[ \[ `W W_\ [ WÆ ] [ ^ `[ V\ \`] [ ^`] [] [ ]V^b W[ [ ]X[ ^ [ ^_ W ^ ] W[ ^`] [ _^ \ [ V W^ W`[ [ W[ ^ ]\ ^_[ XX\V]^ ]\ [ \ [ WV ] ]WX[ W^_W X[ \[ ] [ \ W[ _]Æ ]`] [ \[ ] W ]^ X[ V^ ] ^_[ ^ W Xb[ [ ^X[ WW [ _]VW XW`[ [ W[ WV ] ]WX[ «V ^ W[ \ ]XX]\ [ ½ ¿[ \[ ^`W[^[ \^`[ ^ W[\ [] X W X[ \ W ª WªV\ W [ ] V_ `] [ _]X W`[ WÆ ] ]WX[ ^ `[ \ `X[ ] [ ] W ]^b [ £]__[ Å\] [ W[ ] W ]^ [ \V [ «V ^ W[ ½ ¿Y[ ^X[ £W__[ ^X[ W[ WVW _ [ V W^ W`[ _ W ^ ] W[ WV ] ]WX[ ^ W [ ½ ¿[ `WX] W`[ \ [ _]X W`[ X \V X[ ^ `[ ^X ª \£] [ X[ \[ ] [ \ W[ V \]VW[ ^ `[ ^ X ^ W V [ \[ \ X^ `X[ \ [ V\ ^ ]WX[ _\\ ] [ \[ ^`W[ W] [ X ^ WX[ \ [ ^ [ \ W Y[ W _^ W`[ ^ W b

W] X[ \_`] X[ ^] ^ [ \ [ b[ _ W_ Y[ Y[ X^]`Y[ Ã W[ [ \;W X[ ] WX \ X[ ^ [ ^_ W ^ ] W[ £^ [ \ [ ^VVWXX] [ V^ ] ^_[ \ [ \£ [ ] [ ^ [ W4V]W [ ^ W b[ W[ ^ W[ ] WX W`[ ] [ W[ _^ \ [ WV^ XW[ W] X[ \_`] X[ ]X[ V\ ]<W`[ \[ ^ V] [ \ÅWV X[ ^ [ V\ ] W[ X ^ W ]V^__ [ \[ W[ \£ [ \ [ W W W W X[ ^V \XX[ ]V^b The CEO of NASD, Mr Bola Å\ ^_W[ X^]`Y[ Ã [ ]X[ ^ X[ \[ X ^ W \_`W X[ _] W[ W] X[ \_`] X[ £ \[ ^ WV]^ W[ W[ ] \ ^ VW[ ^ `[ ^ ª W^V ] [ ] ^V [ \ [ W[ W«V ^ WY[ ^ [ W[ [ £]__[ V\ W VW[ ^`] [ X \ _ b[ W] [ ^ ] ]\ [ \[ ]_`[ V\ \`] [ W«V ^ WX[^V \XX[ ]V^[ ^X[ W^ [ W [] ] X]V^__ [ `W X ^ `[£ ^ [ W[ [£^ X[ \[^V ]W Wb[ W] X[

\_`] X[]X[ W[X\ [\ [ ^ W [£W[ WW`[ \[ W X W[ ^ [ W[ [ ]X[ X \ W`[] [] X[ ]XX]\ [ \[`W_] W [ ^[ £\ _`[ V_^XX[ ^_ W ^ ] W[ ^`] [ _^ \ [ \ [ _]X W`[ W ] ]WX[ ] [ ] W ]^b

Nissan targets Nigeria, Angola with 220,000 units ^ ^ X[ XWV\ `ª ] WX [ V^ [ ^ W Y[ X^]`[ ] X[ X ^__[ ^XXW W [ \`W_X[ £\ _`[ [ _W^`[ X^_WX[ ] [ X ª ^ ^ ^ [ ]V^[ [ ©©¢Y¢¢¢[ ] X[ ] ©¢¡Á[ ^X[ `W ^ `[ ]XWX[ ] [ ] W ]^Y[ \_^[^ `[ ^ ^b[ The company’s South ]V^ [ X] WXXY[ ^ ^ ] [ ] WV \ Y[ ] W[ ] W_`Y[X^]`[ W[ ]V ^Y[ _ W ^[^ `[ W ^[ cars would be added to the W«]X ] [ ^ W[ ^ [ ] V_ `WX[ X \ ª ]_] [ W ]V_WXY[ V\ W V]^_[ ^ X[ ^ `[ ]V [ V X[ \[ WW [ ]X] [`W ^ `[ ] [ ^ ^Y[ ] W ]^Y[ \_^[ ^ `[W^X W [ ]V^b

W[ X^]`Â[ Ã ^ [ £W[ XWW[ ] [ ]V^[ ]X[ ^[ W [ X \ [ W W ] [ ]``_W[V_^XXY[£ ]V [ V W^ WX[ ^[ _\ [ \ [ \ \ ] [ ^ `[ X \ [ \£ [ ] [ ^ W^X[ of the market, such as small,

ªXW W [ ^XXW W [V^ Xb ]XX^ [ ]X[ XWW ] [ \£ [ W_XW£ W W[ ] [ ]V^[ ^X[ V\ X W [ X W `] [ X_\£X[ ] [ \ [ ]V^Y[ W[ V\ ] W X[ ] WX [WV\ \ Y[^ ]`[ ]X] [ unemployment. The country’s car market £]__[ \ ^ _ [ ] V W^XW[ Ä[ W VW [ \[ »[ W VW [ ]X[ W^ Y[ ] W_`[ X^]`b[ ^ [ V\ ^ WX[£] [ \£ [\ [¶b©[ W VW [ ] [ ©¢¡©Y[ W[ X_\£WX [ ^] [X] VW[©¢¢¶b[ \ \ ^[ \ \ [ \ \ ^ ]\ [ ^ `[ \_ X£^ W [ [½ ¿Y[ W[£\ _` X[ ] WX [^ `[ ] `ª ranked carmakers, are the _^ WX [XW__W X[] [ \ [ ]V^b ]XX^ [ ^X[ ^ [ ^XXW _ [ _^ [ £] [ ^[ £\ \ VW[ \ [ ^ \ [ ©Y»¢¢[ W\ _W[ ] [ W \ ]^Y[ \ [ ]V^ X[ V^ ] ^_b[ W[ ^V \ [^XXW _WX[ \ W[ \ W[ ]V XY[ ] [ \ [ _W ª ^ `[ ^ `[ ] [ ^ `ª ` ] W[ W X]\ XY[ \ [ X^_W[ `\ WX ]V^__ [^X[£W__[^X[^V \XX[ ]V^[^ `[ \[ W[ ]``_W[ ^X [

^ `[ XX]^b VV\ `] [ \[ ] Y[ à [ ] ^ [ \V X[ ]X[ \[ \` VW[ \ [ W« \ Y [ ] W_`[ X^]`b[ The plant produced 51,000 W ]V_WX[_^X [ W^ Y[^ \ [\ Wª ] `[ \ [ V^ ^V] Y[ £] [ \ W[ X ] [ \ [ £\ W Xb[ \ \ ^ ^ª ^XW`[ ]XX^ [ ]X[ V\ X]`W ] [ \£[ \[^``[V^ [ ^ ] [^ [ W[ W \ ]^[X] WY[ \ [] [ ^X[ \[ _^ [ \ [^[ X]V^_[W« ^ X]\ [ WV^ XW[ ] [ ^_ W^` [ V^ [ ]_`[ \ W[ W ]V_WXb à W W[]X[^[_^V [\ [X ]__X [ \[ W« ^ `[ ^ ^V ] [^ [ W[ ^V \ Y[ ] W_`[ X^]`b[ à X[ £W[ \ W[ \ £^ `[ \[ \£[ V\ W ] ] W WXX[^ `[ \[ \£[ \` V ]\ Y[ £W[ ^ W[ \] [ \[ W[ ^VW`[ £] [ ^[ X \ ^ W[ \ [ X ]__Xb [ à W[ \ W [ V ^__W W[ ]X[ X ^ ]_] [ ] [ W[ _\V^_[ _^ \ [ ^ W [ ^ ]`[ WX [ ] [ \ W [ ] ` X ]WXb[ W[ WW`[ \[ £\ [ \ W W [ £] [ _^ \ [ \[ W X W[ £W[ V^ [ \£[ \ [ \` V ] ] [^ `[¥W«] ]_] b

BUREAU DE CHANGE USD - 161 GBP - 245 EUR - 209

RATES ¥^ ]\ [[[[[[[[[ª[[¶ MPR - 12 W^X [ ]__[[[ª[¡¡b»

STOCK MARKET All-Share Index -36,164.30 Market Cap -N11,426trn

%$|2 $.202/$)(

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16

Daily Newswatch

BUSINESS

monday, july 1, 2013

Delay at ports hurts African economies- World Bank

KIRK LEIGH

A

new study by the World Bank says the unusually long time spent by cargoes at the ports around Africa hurt the regions’ economies and it behooves government and donors looking to improve Africa’s trade to look beyond infrastructure and look at port use and operations. According to the study, Making International Trade Work for Development, a major factor holding back African development is the time it takes to transport goods within the continent. Though road conditions are poor in much of Sub-Saharan Africa, the report anchored by Gael Raballand and Julia Oliver, shows that ports are major contributors to transport delays: Cargo travelling from a port to a city in a landlocked SubSaharan African country generally spends more of its time (75 percent) at the port than on the road. Cargo spends nearly three weeks on average in Sub-Saharan African ports, compared to under

a week in large ports in Asia, Europe and Latin America. This has hurt the region’s economies and deterred the development of valueadded industries that rely on time-sensitive supply chains. While some of the blame for these delays „WXƒX[ ÂŁ]ƒ‡[ ]€X 4V]W€ƒ[ infrastructure and ˆ\‘W„€ŠW€ƒ[ ]€W4V]W€V‚Y[ the report notes, it turns out that privatesector behavior may

be responsible for key aspects of the problem. The report demonstrates that a large portion of dwell time can be explained by collusion between controlling agencies, port authorities, private terminal operators, logistics operators, and some shippers. This suggests that governments and donors hoping to make trade Š\„W[ W4V]W€ƒ[ ]€[ ‰„]V^[ should look beyond big

infrastructure projects and instead work to disrupt the private sector’s collusive, shortterm strategies in port use and operations. According to the report, released last week, a common assumption holds that the private sector (terminal operator, customs broker, owner of container depots, shipper) has an interest in reducing the amount of time cargo sits in ports. This idea has

led the international community to champion such solutions to port delays as privatization of container terminal operations and increased investment in cranes, deep-water berths and other infrastructure improvements. But a close examination of ports in six Sub-Saharan African countries – paired with original `^ƒ^[ ‰„\Š[ �„Š[ X „‘W‚X[ – suggests that the some importers, brokers and

WAICA elects Edu chairman of brokers’ forum KAYODE ADELOWOKAN

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L-R: General Manager, GOtv, Mrs. Elizabeth Amkpa; Marketing Manager, Mr. Oludare Kafar and Head, Public Relations, MultiChoice Nigeria, Mr. Segun Fayose, during the launch of GOtv in Kaduna State‌at the weekend.

PENGASSAN threatens nationwide strike KAYODE ADELOWOKAN

P

etroleum and Natural Gas Senior ƒ^;[ XX\V]^ƒ]\€[ of Nigeria (PENGASSAN) has given the Federal Government a seven-day ultimatum, following unresolved labour issues by the government. This is contained in a _W<W„[ ƒ\[ ƒ‡W[ ]€]XƒW„[ \‰[ Labour and Productivity on Friday, PENGASSAN said, “it would be constrained at the end of its sevenday ultimatum to direct a nationwide industrial action on the myriads of persisting industry and labour related issues to which the association has severally `„^£€[ ƒ‡W[ ^<W€ƒ]\€[ \‰[ the Federal Government and call for the deserved expedient intervention to no avail.â€? The association listed some of its grievances with the government to include: Department of Petroleum Resources under-funding, underfunded Nigerian National Petroleum Corporation Pension Scheme, security V‡^__W€ˆWX[ ^;WVƒ]€ˆ[ V„ `W[

port operators often have an interest in maintaining practices that contribute to port delays. Drawing from experiences in the Cameroons, the report showed that the bulk of port delays come from transaction and storage time, rather than poor handling or operational issues. Importers in SubSaharan Africa often have strong incentives to use ports as storage areas.

oil supply to Port Harcourt W�€]€ˆ[ \Š�^€‚Y[ impeding products „W�€]€ˆY[ ‡^„Š\€]X^ƒ]\€[ \‰[ nomenclature of agencies along NNPC conditions, infringement of workers’ trade union rights and ILO

convention 87 in Lamnalco. It said: “The industry’s plight was rather exacerbated with overwhelming experiences of vandalism of pipelines and installations while oil ƒ‡W‰ƒY[ ]__Wˆ^_[ „W�€]€ˆ[ ^€`[

bunkering had degenerated rather than abating. “PENGASSAN has painfully observed that the state is feigning helplessness and bereft of the right strategy to the social anomie. Panacea to the challenges

should ordinarily transcend us as labour union; however, our concerns and resolves are premised on the manifestation of lip service than the required political will to deal with the challenges at hand.�

Nigerian airlines urged to partner for development

N

igerian airlines have been urged to partner their foreign counterparts to develop Nigeria’s aviation industry. West Africa Regional Manager of Emirates Airlines, Manoj Nair, urged Nigerian airlines to work together for the advancement of the industry. He noted that Nigeria was an important market in West Africa and that Emirates would need the partnership of local airlines for connectivity for its Nigerian customers. He said the Emirates was focused on ensuring that Nigerian passengers have seamless travel experiences across the world. He said: “The key focus

area for us is that our customer base connects well to the network as well as making sure that our vast network is connected to Nigeria. This is with the aim of giving Nigerian passengers a seamless travel experience, ease of transactions making it easy for them to be with us and giving them value for their money with good products and services.� According to him, Emirates will make sure that Nigerian passengers would be connected to the network of the airline in the East, West and South-East Asia. He said: “We are looking at various options through which we can make international connections through inter-connectivity, while working with a

Nigerian partner like Arik Air.� He said that the airline had given the best products

to the Nigerian market, adding that Emirates is planning to expand its route in the country.

he West African I n s u r a n c e C o m p a n i e s Association (WAICA) has named a new Chairman for its Brokers Forum. He is Mr. Rotimi Edu. In a statement, the Deputy Director, Corporate Communications, Nigerian Council of Registered Insurance Brokers (NCRIB), Mr. Tope Adaramola, said Edu was elected at the annual confab of body held in Sierra Leone, recently. With the appointment of the new chairman, who is currently a governing board member of the NCRIB, the body would be able ƒ\[ X‚€W„ˆ]XW[ W;\„ƒX[ across the West Africa sub region. Speaking after his election, Edu, disclosed that part of his mandate was see to it that insurance brokers operating in the west Africa sub region collaborate more W;WVƒ]‘W_‚[ ‰\„[ › X]€WXX[ and professional advancement. Similarly, he stressed that the brokers forum would work with other professionals in the sub region to accelerate their contributions to global economic development.

IFAD trains 9 Jigawa fishermen

T

h e International Funds for Agricultural Development (IFAD) has sponsored nine people to Sabuwa Fish Farm in Katsina State to study how to �„\` VW[ �X‡[ ‰WW`X[ ]€[ Jigawa. The State Coordinator of the organisation, Alhaji Umar Abubakar, announced this in Dutse on Friday in an interview with the News Agency of Nigeria.

He stated that the \4V]^_XY[ £‡\[ ‡^`[ Â?€]X‡W`[ƒ‡W[Â?„\ˆ„^ŠŠWY[ were now stationed in Garki Local Government Area of Jigawa, teaching other farmers who ^„W[ ]€ƒW„WXƒW`[ ]€[ Â?X‡[ farming. The coordinator said ƒ‡W[Â?X‡[‰WW`X[ÂŁW„W[Š^`W[ from maize, ground nut cake, soya beans starch and palm oil. Abubakar explained that a farmer needed a minimum of N5,000 to produce the feeds that

ÂŁ\ _`[X Xƒ^]€[ƒ‡W[Â?X‡[]€[ his farm for about three months. ‘’This is far cheaper to the time when our farmers used to go to Kano or Kaduna to buy feed for about N40, 000 but now they need only N5,000 to produce the feed,’’ he said. The coordinator added that the gesture by IFAD was part of W;\„ƒX[ƒ\[W€V\ „^ˆW[Â?X‡[ farming and improve agricultural production in the state.

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Nigeria place last at FIVB women’s championship

Emenike backs misfiring Ideye

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Daily Newswatch

Sports/NEWS

78

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MONDAY, JULY 1, 2013

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...NFF mourns him

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W[ ] W ]^[ \ \ ^ _ _[ Federation has W« WXXW`[ `WW [ X \V [ and sorrow at news \ [ W[ `W^ [ \ [ \ W [ W [ ^ _WX [ ]` W_`[ ^VWY[ \ X\ [ _] ^b _] ^Y[ ÄÄY[ `]W`[ ] [ ^[ ] ^ W[ \X ] ^_[ ] [ _\ ] Y[ £^ ^[ ^ W[ V^ ] ^_[ \ [ `^ [ \ ] Y[ ^ W [ V\ _^] ] [\ [ ^_^ ]^b[

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\ [ W[ ] W ]^[ \\ ^__[ Federation, Barrister X^[ ^` Y[_^ W W`[ W[ _^ W X[ X ``W [ `W ]XW[\ [ `^ b à ]X[ ]X[ ^[ ^ W` [ \ [ W[ \ \ ]\ Xb[ _] ^[ £^X[ \ W[ \ [ W[ WX [ ]` W_`W X[ \[ ^ W[ _^ W`[ \ [ ] W ]^b[ ]X[ V\ W X[ ^ `[ ^ ^_ XWX[ \ [ ] W ]^[ \\ ^__[\ W [ W[ W^ X[ ^ W[ WW [ Æ ] W[ ] \ W`[ ^ `[ XW _b à W[ ] W ]^[ \\ ^__[ Federation and the entire ] W ]^[ \\ ^__[ ^ ]_ [ \ [ _] ^ X[ ^XX] b[

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Daily Newswatch

Sports/News

MONDAY, JULY 1, 2013

Weightlifting: Uyo wins NWF hosting right

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he city of Uyo, Akwa Ibom state has won the hosting right of the national weightlifting championship billed to hold later this month. Acting Executive Secretary of Nigeria Weightlifting Federation (NWF), Mr. Ikechukwu Anyaduba stated that Uyo was given the nod ahead of other cities in the country because it would be perfect place to kick start the activities of the new NWF board, given the uncommon transformation the city has undergone under the administration of Governor Godson Akpabio. “The vision of the new board of Nigeria Weightlifting Federation (NWF) is to take the game of weightlifting to the next level in the country. Gov Akpabio on his part has given the city of Uyo a massive facelift, so that would be a perfect venue to

kick start our programme,â€? Anyaduba stated. The NWF scribe stressed that the exact date for the championship would ›W[ Â?ÂŤW`[ £‡W€[ ƒ‡W[ [ meets with the authorities of Akwa Ibom State sports, even as he added that the championship ÂŁ\ _`[ ^<„^Vƒ[ ÂŁW]ˆ‡ƒ_]‰ƒW„X[ from the 36 states of the federation and FCT Abuja. He disclosed that the states have since been informed to begin their build-up for the championship, which would be used to select ^ƒ‡_WƒWX[ ƒ‡^ƒ[ ÂŁ\ _`[ ¼‚[ ƒ‡W[ V\ €ƒ„‚žX[ ÂĽ^ˆ[ ^ƒ[ ƒ‡W[ African championship which Nigeria is hosting in September; as well as the Commonwealth W e i g h t l i f t i n g championship billed for November in Malaysia. “We intend to use the national championship in Uyo as an avenue to discover new talents ƒ‡^ƒ[ ÂŁ\ _`[ ›W[ ¼‚]€ˆ[ ƒ‡W[ V\ €ƒ„‚žX[ ÂĽ^ˆ[ ]€[ Africa as well as at the Commonwealth w e i g h t l i f t i n g championship. “The Uyo event promises to be a glamorous one as it would be the very Â?„Xƒ[ ƒ\ „€^ŠW€ƒ[ \‰[ \ „[ board. We are happy that Akwa Ibom has accepted to play host. We want to thank Governor Godwill Akpabio for identifying with the game of weightlifting,â€? Anyaduba stated.

Etuhu back in training after injury

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]ˆW„]^[ Š]`�W_`W„Y[ Dickson Etuhu has returned to training after he was sidelined for several months last season due to a knee injury. Etuhu was among the Blackburn Rovers players who trained at Brockhall ahead of 2013/2014 Championship season. The former Fulham player trained under the watchful eyes of new

manager Craig Short, who tasked them to go all out to win promotion back to the English Premier League. The 31-year-old Etuhu, who signed a four-year contract with Blackburn Rovers in the summer of 2012, has played for Manchester City, Preston North Ends, Norwich City and Sunderland. ‡W[ `W‰W€X]‘W[ Š]`�W_ª der has won 17 caps with Nigeria.

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Okagbare dusts Fraser-Pryce to win 200m B lessing Okagbare upset favourites Shelly-Ann FraserPryce and Carmelita Jeter to win the 200 metres at the Diamond League meeting in Birmingham yesterday. The race was billed as a clash between Jamaica’s Olympic 100 winner FraserPryce and world sprint champion Jeter of the US, but Okagbare Â?€]X‡W`[Xƒ„\€ˆ_‚[ƒ\[ÂŁ]€[ in 22.55. Fraser-Pryce, who plans to run the 100 and 200 at the World Championships in Moscow in August, was second in 22.72 with Jeter, competing for Â?„Xƒ[ƒ]ŠW[X]€VW[X ;W„]€ˆ[ a hamstring injury in Shanghai in May, Â?€]X‡]€ˆ[_^Xƒ[]€[Šžbžà b Jeter declined to talk to waiting reporters but training partner Okagbare did not think the American’s performance was a cause for concern. Ăƒ ‡WžX[ Â?€Wb[ \ [ X^ÂŁ[ her run today so you can tell for yourself,â€? the Nigerian told reporters. “It’s good she’s come

back. “I’m not a good starter, so I have more of an advantage on the 200,� added Okagbare, who has yet to decide whether she will ^<WŠ�ƒ[ ^[ X�„]€ƒ[ `\ ›_W[ in Moscow.

“With the upcoming World Championships, the goal is to stay healthy.â€? Jamaican Nesta Carter took the men’s 100m in the absence \‰[ ‡]X[ ›W<WÂ„ÂŞÂ˜Â€\£€[ compatriots Usain

\_ƒ[ ^€`[ \‡^€[ _^˜WY[ winning in 9.99. Britain’s James Dasaolu recorded a personal best of 10.03 for second and the ever-green Kim Collins, world champion in 2003, was third (10.06).

Entries begin for Nigerian Sports Award

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s plans gear up for the second edition of the Nigerian Sports Award, the organizers, Unmissable Incentives Limited in partnership with Mastersports International Limited announced that nominations of athletes for the award is now open. According to a statement by the General Manager, Unmissable

Incentives, Mr. Kayode Idowu, nominations for the second edition of the award will open \4V]^__‚[ \€[ \€`^‚[  _‚[ 1 and closes on Saturday September 7, 2013. Idowu revealed that ^ÂŁ^„`[V\ŠŠ]<WW[`WV]`W`[ to extend the period of nomination for this year’s edition to two months to ^;\„`[Š^€‚[XÂ?\„ƒX[_\‘]€ˆ[ Nigerians the opportunity

to nominate their favourite athletes for award. He then urged members of the public to visit the Nigerian Sports Award website www. nigeriansportsaward. com where they would complete the process of nominating their most outstanding sports personalities in each of 15 categories for this year. ‡W[ �‰ƒWW€[ V^ƒWˆ\„]WX[

for the award include football (male/female, foreign/domestic); Track ^€`[ Â?W_`[ ½ÂŠ^_WӉWŠ^_WĂ‘[ All races. Long jump, javelin, discus, shot put, high jump), ball sports (table tennis, tennis, basketball, volleyball and handball), combat Sports (taekwondo, karate, judo, kung-fu, and wrestling) and weightlifting (male & female).

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