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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...

Clearing houses battle NCC over call masking allegations.

A potential battle is currently looming between the Nigerian Communications Commission (NCC), and Interconnect Exchange Operators over some alleged sharp practices going on in the telecommunications sector.   The NCC yesterday, in a letter sighted by The Guardian had accused about six operators including Interconnect Clearing House Nigeria Limited; Medallion Communications Limited; Nicconx Communications Limited; Breeze Micro Limited; Solid Interconnectivity and Exchange Telecommunications limited, of fuelling call masking and refilling in the industry.    NCC claimed that these operators were found to be involved in call masking and refilling, hence the move to withdraw their operating licenses.A masked call happens when an international calling number (Caller Line Identity) is framed as local number traffic. It is a deliberate attempt by the fraudster to avoid paying the correct International Termination Rate (ITR) for international calls, but to benefit by p...

Tackling unemployment via ride-hailing technology.

Adapting to local conditions, transport apps are enabling Nigerian users to cut through gridlocks while creating massive jobs on a driver-partner scheme. Ibukun Igbasan writes One year ago, Nigeria’s Emmanuel Akpan became a driver for Taxify, a ride-sharing app that connects drivers with customers who want a ride. In that time, he said he has seen his monthly salary nearly double. The 44-year-old driver makes about 16 trips per day.“The experience has been good, especially compared with other taxis,” he said. “There’s more money, and the clientele has more trust in you.” Taxify is aggressively expanding its African footprint. In addition to its presence in Lagos, and Abuja it is present in over six African cities and Over 30 cities accross Europe, the Middle East and Central America.A particularly inspiring story of the Taxify revolution in the country is that of Ayo Johnson.   Johnson was a banker with one of Nigeria’s biggest banks and was laid off in the heat of th...

How bank worker, syndicate use stolen SIM cards to steal millions from customers’ account.

Details have emerged of how an employee of a bank, one Christian Amechi, allegedly helped fraudsters to steal millions of naira from customers using a string of impersonators. The bank worker, until his arrest, was serving at the ATM customers service unit, at the bank’s head office in Victoria Island, Lagos. He is currently being quizzed at the Special Anti-Robbery Squad (SARS), Lagos State Police Command. He was arrested last week along with five other members of the syndicate following a report against their nefarious activities by the bank’s top management team. Together, the gang had allegedly removed over N20 million from accounts belonging to various customers. Those arrested include Oyozoje Joseph, 30; Nelson Matthew Eugari; Henry Omogbemi, 31; and Ene Mona Gabriel. Luck ran against the banker after the police team arrested the leader of a gang of pickpockets, Akeem Apejoye, in Lagos. In his confession, the street thief told the police how Christian and his g...

UK pledges support for Nigerian women’s participation in politics.

The British government will support Nigerian women who want to be actively involved in politics. The UK Special envoy on gender equality, Joanna Roper, told the News Agency of Nigeria (NAN) that there was the need to increase women participation in politics in Nigeria. stated this in an interview with the News. “Nigeria and UK will work together on gender equality and others. “Twelve states in Nigeria have had their national plan on gender equality and this shows that UK and Nigeria can work together on it,” she said. According to her the British government is keen in the area of women involving in political participation in Nigeria. She said that the British government would help in the area of implementation of national action plan for gender equality. “’This could be easily done through the national plan at the state level, and a lot of efforts had been made in this regard. “’I think the conversation has started over it because that is where we could make an impact...

CKA seeks development of pupils ICT knowledge through competition.

With the understanding that early exposure to the basics of Information and Communications Technology (ICT), will help reposition pupils and equip them with the ICT skills required for future learning, City of Knowledge Academy (CKA), Ogun State, has organised ICT competition for public and private primary school pupils in Nigeria. Head of School, Abiola Lamikanra, while disclosing the intent of the school’s new ICT project, as part of its contribution to societal growth, said in today’s world good knowledge of ICT places learners across the globe at vantage position, saying Nigerian kids will not be left behind. She said the school realises that the real world is a digital world where only digitalised individuals will thrive, urging schools to step up their games in the teaching and learning of ICT. She maintained that when pupils are exposed to the basics of ICT and are well guided they do not only benefit, the society also do. She said more than 65 per cent of CKA p...

Iwobi replaces Sanchez, Arsenal loans out Nigeria’s Nwakali to MVV Maastricht.

The exit of Alexis Sanchez to Manchester United may have created a suitable position for Super Eagles striker, Alex Iwobi, as he is being tipped to replace the Chilean in Arsenal’s starting eleven for the time being, until Arsene Wenger signs a capable replacement. This is coming just as Dutch club, MVV Maastricht, has confirmed the loan signing of Nigeria U-20 international Kelechi Nwakali from Arsenal. According to www.allnigeriansoccer.com, Iwobi is better than the Chile international in four key performance statistics: passing accuracy, shooting accuracy, average duels won and average defensive actions. Iwobi might be underrated right now due to his inconsistent performances this term, but the winger has a shot accuracy of 70 percent, whereas Sanchez has 57 percent. The Super Eagle has completed an impressive 86 percent of his passes, compared to the Chilean who has a passing accuracy of 73 percent. With an average defensive action of one, Iwobi is better...

Diageo profit boosted by Trump tax reform.

Guinness-maker Diageo said Thursday that its net profit jumped by a third during its first half, largely thanks to an exceptional gain following US President Donald Trump’s tax reform. Diageo, which makes also Smirnoff vodka, Baileys liqueur and Johnnie Walker whisky, posted net profit of £2.1 billion ($3.0 billion, 2.4 billion euros) in the last six months of 2017, the group’s first half. The British company received a tax credit of $475 million (382 million euros), while Diageo benefitted also from strong sales of Tequila, whisky and gin — the latter spirit enjoying growing popularity in the UK. Trump meanwhile last month signed into law a sweeping overhaul of the US tax code, boosting company profits by lowering the corporate tax rate to 21 percent from 35. Diageo meanwhile took a hit from the pound’s rebound against the dollar, a situation set to continue for the remainder of its financial year.   ...