18 JBIJSINESS
Google to repOSition IG in Nigeria CONTINUEO FROM PAGE 17 the business opportunities, which the Interne~ particularly Goggle, provide. Urging Nigerians to maximize such opportunities, he cited the example of a small business outfit which later transfonned to a multimillion naira venture within four months. Accordins to Aina, a Nigerian trader, SImply called Mrs. Funke, sold one year inventory in a month by takin!/, advantage of the Internet 'Indeed, her business moved from NISO,OOO to NIS million in four months," he disclosed. What Mrs. Funke did, Aina explained, was to simply use a her baby productS. He also dted the example of another Nigerian who presently make millions of naiIa yearly oJ: selling Nollywood online." Such is the amazing transformation that the Internet could . provide" Aina stressed. Significantly, he cautioned business organisations, espedally Banks, to be more customer-friendly and ensure prompt and effident service delivery, because dissatisfied customers have commenced taking their complaints to the Internet He dted examples: "Some customers were in some banks which name I will not mention. And right there in the Banldng premises, they were reporting their frustrations in those banks on the Internet through their Mobile phones. You can imagine what damage such could do. So, business outfits, especially banks, should pay attention to their customers, because t11ey are gong online." On a general note, one sure path to b usiness success, Aina also advised, is for business outfits to ensure that their local products appeal to a global audience. "It's a global wo rld. Look beyond your country and let your product appeaf to other countries," he stated. The Expert added: "Create ,.products that are so good that cQ(lsumers will become your advoca tes, spreading the good news of your product to others.
Group Managing DIrector, Chief Executive Ufficer, First Bank of Nigeria PIc , Bisl Onasanya (left) ; Enugu Slale Governor, Sullivan Chime: and Executive Director, managemenllo Ihegovemor, In Enugu.... recently. '
Oil prices slip below $101 on weal< economic data IL prices dropped below 2008 in April, but d eclini ng but analysts think travel will be impacted this year $101 per barrel yester- gasoline consumption and day on aiscou(aging eco- reports of a weakening jobs as soa rin g fuel prices nomi c news, as U.S. m anu· m arket p u sh ed prices squeeze family budgets. 'Summer is a real boom facturing growth slowed down. Payro ll processor ADP time for e nergy ma rkets," and a n ind ustry gro up said private employers added added to those concerns sa id Michael Lynch, preside nt of Strategic Energy & the fewest jobs si nce yeste rday. Th e group sa id private em p loyers created Economi c Research. 'fhis September. just 38,000 jobs' in May, yearthough he said a lot of Benchmark West Texas Inte rmediate crude for July d own from 177,000 in Ap ril. people may wa n t to keep delivery lost $2.01, or rwo . That's the weakest number their cars at home. "And per cent, at $\0 0.69 per bar- since September. ' Th e gov- I'm not sure if gas prices rel on the New York ernment un em ploym ent dropping fro m $4 to $3 per Mercantile Exchange. In report for May is due out ga llo n is going to convince t he m to hop back in the London, Brent c rude fe ll Friday. . For the next few weeks, car," Lynch added. $\.87 $1\4.86 per barrel on ~nvesiors and energy econ: ', The latest data 'on retail the ICE Futures exchange. " Prices have wavered omists will keep a close eye . gas d emand ' wi ll come from a MasterCa rd around $100 per barrel dur- o n how mu ch Americans survey ing t he past few weeks. Oil are driving . U.S. highways Spe nd in gPu lse h it the highes t level since are usually filled with "vaca- tha t's expected Wednesday. . tioners during the summer, Previous SpendingPulse
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surveys show a nine-week decline in U.S. gasoline consumption. Cons umers a lso may be dealing with higher gasoline prices in other ways. Oil an a lyst Stephen Schork n oted that Burea u of Economi c Ana lysis data sh ow that sales of used cars rose in April while sales of new cars decl in ed . "Consu m ers are likely scaling back on n ew cars and putting that money towards their gasoline bills," Sch ork said. .. '. Carmakers re lease May sa les figures Wednesday. Both GM and Ford reported lower sales overall. Analysts expect total U.S. auto sa les to fall four per
cent compared to a year ago. Meanwhile, gaso lin e prices continue to drop. The nati ona l average declined for the 20th day to $3.775 per gallon, according to AAA, Wright Express and Oi l Price Information Service. A ga llo n of regu lar is 17.7 cents cheaper tha n' it was a month ago, but it's still $\.05 higher than the same time last year. In other Ny m ex trading for July contracts, heating oil gave up four cents at $3.0177 per gallo n and gasoline futures fell 6 cents to $2.99 05 pe r gall on. Nat ura l gas lost tliree cents at $4 .633 per 1,000 cubic feet.
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trend will accelerate over the next 20 years. ' In its report, Growing a ~dequatefoixl,deiiiindfngIadi- . BetterFuture,Oxfam says preCalrefurmofthegJobalfoOdsys- dictions suggest the wond's terti;Oxtamhaswariled population Will reach 9 bi!: By 203o" .the average cost of lion by 2050 but the aveIage key crops could increase by growth rate in agricultural between 120 penent and 180 yields has almost halved since per cent; the eharity forecasts. 1990. It is the acceleration of a According to the charity's trend, which has already seen research, the world's poorest 'food prices double in the last people now spend up to 80 . per cent of their incomes on 20 years. . Halfofthe rise to come willbe food - with those in the caused ' by climate . change, . Philippines spending proporOxfalli'predictS •.• _.' .tiona rely ·four. titnes more It calls on warid leaders. t~ . than those in the UK, for improve regulation of food instance - and more people markets and invest in a global will be pushed into hunger as climate fund. . . food prices climb. - '1be foo'd system must be . The report highlights four overhauled iIwe to over- "food insecurity hotspots"; come the. increasingly press- ' areas which are already struging challeng~s oc: climate gling to feed their dtizens: change, spiralling food prices ' Guatemala, wh ere 865,000 ~d the scardtyofland, water people are said to be at risk of .a nd energy," said Barbara food insecurity because of a Stoclting, OXfarri's t hief' exec- . lack of state investment in utive. .' . smallholder farmers who are World jood priCes have highly dependent on importalready more than .doubled eafood; sin~e19~O"accordiJ)gtoFood· India, where people spend and AgricUltUral more than twice the proporOrga,nization (FAa). figu,res, tion of their income on food and. Oxfam predicts that this than UKresidents. ,Nngthe squeeze on papulations ajready strurodinJ>; to buy
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