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World markets dive as Trump sparks trade, North Korea worries

Global stocks sank Wednesday after US President Donald Trump said he was not satisfied with talks that are aimed at averting a trade war with China. Equities were also dented by poor eurozone economic data, and as Trump cast doubt on a planned summit with North Korean leader Kim Jong Un. “Trump (is) continuing to drive uncertainty over global trade,” said analyst Joshua Mahony at trading firm IG. “European markets are following their Asian counterparts lower, as a pessimistic tone from Trump is compounded by downbeat economic data,” he added. Markets had surged Monday after US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He said they had agreed to pull back from imposing threatened tariffs on billions of dollars of goods, and continue talks on a variety of trade issues. However, Trump has declared that he was “not satisfied” with the status of the talks, fuelling worries that the world’s top two economies could still slug out an economically pain
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FG to increase power generation to 20,000 MW, says Minister.

The Federal Government said on Friday that its plan to generate 20, 000 megawatts of electricity over the next four years was on course.
The Minister of State for Power, Alhaji Mustapha Shehuri, gave the assurance in Funtua, Katsina State when he inaugurated a 132/33 KV transformer that would boost power supply to local governments in Katsina South by 200 percent.
He said that the government was replacing faulty transformers nationwide and installing new ones in order to ensure steady power supply to Nigerians.
Shehuri said that ongoing transmission rehabilitation and expansion programme would facilitate full utilisation of the more than 7000MW of power currently available.
“Government is determined to provide safe, reliable and sustainable power supply to the citizenry,’’ the minister emphasised.
The News Agency of Nigeria (NAN) reports that the 60MVA 132/33 KV power transformer project in Funtua, fully funded by the Transmission Company of Nigeria (TCN), was successfully energized on Oct. 10.
The Minister also inaugurated a 40MVA 132/33KV mobile power transformer in Zaria, Kaduna State.
Earlier, TCN Managing Director, Usman Mohammed said efforts were on to complete the installation of power transformers scattered across the country using its engineers and other in-house staff.
He said that the company’s Regional Managers had been mandated to supervise the installations.
Mohammed said TCN has successfully achieved frequent control, first of its kind in 20 years.
He announced that TCN would establish three additional sub-stations in Kaduna at Keke, Rigasa and Kakau to boost power transmission in the state capital.

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