Business

EU agrees to grant UK request for Brexit delay until Jan. 31 2020 – Tusk

THE European Union (EU) has agreed to grant the UK’s request for a Brexit extension until Jan. 31 instead of the deadline of Oct. 31, European Council President Donald Tusk said Monday.

“The EU27 has agreed that it will accept the UK’s request for a #Brexit flextension until Jan. 31, 2020.

“The decision is expected to be formalised through a written procedure,” Tusk said on Twitter.

The decision was made at a Monday meeting of the Committee of Permanent Representatives in the EU.

Fidelity Bank, Gazelle empower 200 youths with entrepreneurial skills

Fidelity Bank Plc, in partnership with Gazelle Academy and the Nnamdi Azikiwe University, Awka at the weekend concluded an entrepreneurship training programme for over 200 students in Anambra State.
The initiative is to reduce unemployment rate in Nigeria.
The programme ended with a call to Nigerian youths to embrace entrepreneurship and create wealth for themselves instead of searching endlessly for non-existing paid jobs.

What Niger, Benin, others must do before we reopen border – Emefiele

THE Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Monday insisted that neighbouring countries must engage with Nigeria before the Nigerian border is reopened.

The border was closed few weeks back due to the substandard products that are smuggled and dumped into the Nigerian markets.

Emefiele spoke with State House correspondents after closed doors meeting with President Muhammadu Buhari at the Presidential Villa, Abuja. He also claimed that the Nigerian economy is doing well with the closure of its borders.

Nigeria needs a competent customs service, not border closure

About two months ago, the Nigerian government announced the closure of the country’s land borders to all goods. According to the country’s Comptroller-General of the Customs Service, Hameed Ali, this was done to stem the influx of smuggled goods, especially rice and tomatoes, into the country.

Beijing's new $63 bln mega-airport begins international flights

Beijing's new $63 billion Daxing airport began its first scheduled international flights on Sunday as it ramped up operations to help relieve pressure on the city's existing Capital airport.

Shaped like a phoenix - though to some observers it is more reminiscent of a starfish - the airport was designed by famed Iraqi-born architect Zaha Hadid, and formally opened in late September ahead of the Oct. 1 celebrations of the 70th anniversary of the People's Republic of China.

Cameroon calls for freeze on Douala port contract over Bollore court case

Cameroon's president has ordered its main Douala port to suspend contract talks with Swiss firm Terminal Investment Limited (TIL) until the conclusion of a court case brought by France's Bollore, according to a letter seen by Reuters.

TIL was chosen to renovate and manage the Atlantic port in September after Bollore, which had managed the hub since 2015, was eliminated earlier in the bidding process as it sought to renew its contract. It is contesting the decision in the Cameroonian courts.

2020 budget: We are sticking to deadline of defence – Gbajabiamila

The Speaker of the House of Representatives, Mr Femi Gbajabiamila has said the house would stick to the deadline of Oct. 29 given to Ministries, Departments and Agencies (MDAs) to conclude their budget defences for 2020.

Gbajabiamila said this while addressing newsmen on Wednesday.

How states blew N2.67tr in 2018, by BudgIT

Nigerian states expended a whopping N4.319 trillion to fund their operations in the 2018 fiscal year, according to a survey by BudgIT, a fiscal governance organisation.

According to the survey released in Abuja yesterday, of the amount, recurrent spending gulped N2.67 trillion, while a paltry N1.648 trillion was devoted to capital projects.

Scam! ERA warns against Lagos govt’s plot to begin water privatisation

.Says it’s scam, calls on residents to reject plan
By Valentine Amanze

Rich Chinese outnumber wealthy Americans for first time

The number of rich Chinese has surpassed the count of wealthy Americans for the first time as both countries keep churning out millionaires, a study by Credit Suisse showed.

The Swiss bank's annual wealth survey released on Monday found 100 million Chinese ranked in the global top 10% as of the middle of this year versus 99 million in the United States.

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