US SHUNS NIGERIA’S OIL

US SHUNS NIGERIA’S OIL

Sabinews Daily Morning News Update for October 2, 2014MORNING NEWS

 

National News

 

US Health Authorities Learn from Nigeria’s Experience Containing Ebola

Since the first case of Ebola was diagnosed in the United States of America on Tuesday, the country’s health authorities have been citing Nigeria’s experience at containing the outbreak of the virus as a success story that should be emulated in the US.

Several US health experts and the Director-General of the Centre for Disease Control and Prevention (CDC) in Atlanta, Dr. Thomas Frieden, appeared on CNN on Tuesday and Wednesday during which they spoke of Nigeria’s quick and coordinated action by some of its top doctors to contain the outbreak in Lagos and Port Harcourt after the disease was imported into the country by Liberian Patrick Sawyer. Read more

PDP Accuses CJ of Partisanship over Petition against Fayose

Following indictment of the Ekiti State Governor-elect, Mr. Ayodele Fayose,  in a petition written to the National Judicial Council (NJC) on crisis rocking the state judiciary,  the state chapter of the Peoples Democratic Party (PDP) has accused the state Chief Judge (CJ), Justice Ayodeji Daramola, of partisanship and bias.

The party, however, advised  Justice  Ayodeji “to face the truth and stop being biased  in the interest of the sanctity of the judiciary.” Read more

500 Protesters Storm Abuja over President’s Silence on Chibok Girls

Over 500 protesters under the aegis of Citizens Arise Movement of Nigeria (CAMON) yesterday staged a protest at the Eagle Square in Abuja to register their displeasure  over the alleged insensitivity of the federal government to the plight of the over 200  missing Chibok girls.

The protesters moved around the federal secretariat chanting various anti-government song to denounce the state of affairs in the country. Read more

NCC, ATCON Set for Nigeria ICT Festival 2014

The Nigerian Communications Commission (NCC) and the Association of Telecommunication Companies of Nigeria (ATCON) have indicated interest to participate at the Nigeria information and communication technology (ICT) Festival 2014, just as the event continued to generate positive response from regulators and operators in the nation’s ICT sector.

The event, which is slated for October 30, in Lagos, has the theme as: ‘Broadband: Path to Digital Future.’ Read more

Osun INEC Publishes Notice Of 2015 General Elections

The Independent National Electoral Commission (INEC) in Osun Wednesday said it had published notice of the 2015 general elections in line with its timetable and schedule.

The chief public affairs officer of the commission, Mrs Adenike Tadese, made this known in a statement. Read more

 

Sabinews News Update on Economy

 

CBN Unveils Collateral Registry Regulations to Enhance Access to Credit

In order to improve access to finance for micro, small and medium enterprises (MSMEs) in the country, the Central Bank of Nigeria (CBN) has approved the collateral registry regulations.

The document signed by the CBN Governor, Mr. Godwin Emefiele, a copy of which was posted on the central bank’s website, is also expected to support prudent lending policy in the industry. Read more

Ten-year Capital Market Master Plan Due in November

The Securities and Exchange Commission (SEC) will next month launch a10-year capital market master plan to facilitate the growth of the Nigerian capital market.

The commission’s Executive Commissioner, Corporate Services, Zakawanu Garuba, disclosed this on the sidelines of the on-going International Organisation of Securities Commissions (IOSCO) annual meeting in Rio de Janeiro, Brazil. Read more

Transcorp Hotels Launches N8bn Public Offer

Transcorp Hotels Plc on Tuesday officially availed Nigerians the opportunity to benefit from its N8 billion Initial Public Offering (IPO) of 800 million ordinary shares of 50 kobo each at N10 per share.

The offer, which was formerly billed to begin from September 24 to 30,  had to be extended till October 17 after all regulatory demands had been duly satisfied. Read more

CBN Unveils Collateral Registry Regulations to Enhance Access to Credit

In order to improve access to finance for micro, small and medium enterprises (MSMEs) in the country, the Central Bank of Nigeria (CBN) has approved the collateral registry regulations.

The document signed by the CBN Governor, Mr. Godwin Emefiele, a copy of which was posted on the central bank’s website, is also expected to support prudent lending policy in the industry. Read more

Regulatory reforms improving Nigeria’s business climate — World Bank

The World Bank Group has stated that most states across Nigeria have continued to implement regulatory business reforms , with Cross River, Ekiti, Niger, Ogun, and Rivers making the biggest stride.

According to the World Bank report on business climate, challenges and hurdles to local entrepreneurs have persisted in the country’s business climate. Read more

No to Forced Listing of Companies

There are worrying signals that unless due caution is brought to bear, a law that will force some blue chip private companies to sell their shares at the Nigerian Stock Exchange may be enacted. Such a law is reported to be nearing the public hearing stage at the House of Representatives.

If the law becomes operative, big companies, such as the successful telecoms giants (MTN, Globacom, Etisalat and others) as well as oil majors like Shell and Chevron, will be compelled by law to float their shares on the Nigerian bourse. Those behind this initiative argue that Nigerians should be given the opportunity to share in the large amounts of profit that these companies are raking in from the Nigerian market, thus allowing their profitability to have a trickle-down effect. Read more

US stocks sink on economic, Ebola worries

Wall Street stocks finished sharply lower on Wednesday following mixed US economic data amid worsening anxiety over global economic growth and the first confirmed Ebola case in the United States.

The Dow Jones Industrial Average fell 238.19 points (1.40%) to 16 804.71.

The broad-based S&P 500 tumbled 26.13 (1.32%) to 1 946.16, while the tech-rich Nasdaq Composite Index sank 71.30 (1.59%) to 4 422.09. Read more

 

Sabinews News Update on Oil and Gas

 

US Shuns Nigeria’s Oil

The search for alternative energy by the Barack Obama administration in the United States of America (USA) has begun to take a toll on Nigeria’s crude oil export as the US for the first time failed to import a single barrel of crude oil from Nigeria.

This troubling scenario experienced in the month of July, according to industry watchers, may spell doom for the Nigerian economy.

Obama’s vigorous search for alternative energy to drive the world’s largest economy poses grave dangers for Nigeria whose economy is highly dependent on revenue from oil. Read more

Oil prices mixed in Asia

Oil prices were mixed in Asia on Thursday with gains capped by concerns about a global supply glut and a stronger dollar, analysts said.

US benchmark West Texas Intermediate for November delivery rose seven cents to $90.80 while Brent crude for November eased six cents to $94.10 in mid-morning trade. Read more

 

World News

 

Argentine Central Bank Chief Resigns After Apparent Clash with President Cristina Kirchner

Argentine central bank governor, Juan Carlos Fabrega, has resigned from his post after less than a year of service at a time when the country’s economic woes grow.

President Cristina Kirchner accepted the resignation, and named her top securities and exchange regulator, Alejandro Vanoli, as replacement, according to a government statement. Read more

Taliban kill three in Kabul blast targeting army bus

At least three people were killed when a Taliban suicide bomber attacked an Afghan army bus in Kabul on Thursday, the interior ministry said.

Local media said at least seven others were injured in the attack.

The bombing is the fourth such Taliban attack since the swearing in of new President Ashraf Ghani on Monday. Read more

Gulf Arabs demand return of state authority in Yemen

Gulf Arab states have demanded the restoration of government authority in Yemen, issuing a thinly veiled criticism of rebels with ties to Iran who have taken control of the capital, Sanaa.

Fighters from the Shi’ite Muslim Houthi movement seized Sanaa on Sept. 21 after overrunning an army brigade affiliated to the moderate Islamist Islah party, making them effectively the power brokers in the country. Read more

Beijing Warns of ‘Chaos’ if Hong Kong Protests Persist

The Chinese Communist Party on Thursday condemned the street protests that have engulfed parts of Hong Kong and gave its firm endorsement to the city’s beleaguered leader. In a front-page commentary, People’s Daily, the main newspaper of the Chinese Communist Party, accused pro-democracy groups of threatening to drag Hong Kong into “chaos.”

The commentary laid bare the chasm of expectations between the Chinese Communist Party and democratic activists in Hong Kong, and it left no room for compromise on the demonstrators’ main demands. Read more

Landowners launch class action over bushfire north of Melbourne

About 300 landowners have launched a class action over a bushfire on Melbourne’s northern fringes.

The Mickleham-Kilmore fire burned about 23,000 hectares on 9 February this year.

Maddens Lawyers say about 300 landowners lost an estimated $50m, with more than 20 homes, more than 14,000 sheep, hundreds of cattle and more than 2000km of fencing destroyed. Read more

Notorious Mexican drug lord Hector Beltran Leyva finally captured at seafood restaurant in holiday town

Hector Beltran Leyva, one of the most notorious Mexican drug lords still at large, has been captured by soldiers at a seafood restaurant in a picturesque town in central Mexico popular with American retirees.

The Mexican government’s announcement that it had snared the boss of the Beltran Leyva cartel is a serious blow to a gang named after a group of brothers who became infamous for the bloody turf war they waged with their former ally, Joaquin “Shorty” Guzman. Read more

Ebola patient ‘sent home from ER’

The airline passenger who brought Ebola into the US initially went to a Dallas emergency room last week but was sent home, despite telling a nurse that he had been in disease-ravaged West Africa, the hospital said.

The decision by Texas Health Presbyterian Hospital to release the patient, who had recently arrived from Liberia, could have put others at risk of exposure to Ebola before the man went back to the ER a couple of days later, when his condition worsened. Read more

 

Sabinews News Update on Energy

 

Power Utility in Prepaid Meters Dilemma in Zimbabwe

Nearly 100 000 houses in Harare and Bulawayo have looped connections that are not compatible with prepaid metering technology, making it difficult for Zesa to install new units on them.The houses are found mostly in old suburbs such as Highfield, Mbare, Old Mabvuku, Epworth in Harare while Bulawayo has areas such as Makokoba, Mpopoma and Iminyela. The looped connection is a system where many houses are connected to one bulk meter.

Power theft, according to Zesa officials, is also high in these suburbs. Read more

 

Sabinews News Update on Sports

 

Heineken Nigeria Cup: Professional Golfers Battle for N3m

As the 18th in the series of a week- long Heineken/Nigeria Golf competition hit the home stretch, it will be the turn of touring professionals as they file out for a N3m bounty staked in their category this morning.
The tour professional have always been part of the tournament in which Heineken is one of the major sponsor. With N3m up for grab in the category, the battle to come top in the competition is expected to be a fiercely fought one. Read more

Nigerian duo in race for Liverpool clash

The Nigerian attacking pair of Victor Anichebe and Brown Ideye are still to be confirmed for West Brom’s trip to Anfield to face Liverpool this Saturday.

West Brom manager, Alan Irvine, assessed the fitness levels of Anichebe and Ideye, and still believes they are not completely in the race for the clash at Anfield. Read more

 

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