Africa Business News

Twenty-three Nigerian states grew bilateral loans by 64.26 per cent in six months to $462.81m as of the end of June. Most of the loans were taken from China, India, France and other countries. The Central Bank of Nigeria directed Deposit Money Banks to remove the rate cap on the naira at the official Investors and Exporters’ Window of the foreign exchange market. The external debt data from the Debt Management Office, shows that 23 states increased their borrowing from China (Exim Bank of China), India, France (Agence Francaise Development), Japan International Cooperation Agency, and Germany (Kreditanstalt Fur Wiederaufbua).

Twenty-three Nigerian states grew bilateral loans by 64.26 per cent in six months to $462.81m as of the end of June. Most of the loans were taken from China, India, France and other countries. The Central Bank of Nigeria directed Deposit Money Banks to remove the rate cap on the naira at the official Investors and Exporters’ Window of the foreign exchange market. The external debt data from the Debt Management Office, shows that 23 states increased their borrowing from China (Exim Bank of China), India, France (Agence Francaise Development), Japan International Cooperation Agency, and Germany (Kreditanstalt Fur Wiederaufbua).This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

The Federal Government has invited the Nigerian Labour Congress over the union’s plan to go on indefinite strike. Labour and Employment Minister Simon Lalong has invited them for discussions while the NLC is planning a nationwide shutdown owing to the removal of fuel subsidy and the hardship in the country. The Minister who directed the Department of Trade Unions Services and Industrial Relations to convene a meeting with the leadership of the Nigeria Labour Congress says it was important that the Unions sit with Government to resolve all pending matters to avert further disruption to the economy.” The minister reiterated President Bola Tinubu’s government’s commitment to “always engage the organised labour and respond to its concerns after due consultation and negotiations.

The Federal Government has invited the Nigerian Labour Congress over the union’s plan to go on indefinite strike. Labour and Employment Minister Simon Lalong has invited them for discussions while the NLC is planning a nationwide shutdown owing to the removal of fuel subsidy and the hardship in the country. The Minister who directed the Department of Trade Unions Services and Industrial Relations to convene a meeting with the leadership of the Nigeria Labour Congress says it was important that the Unions sit with Government to resolve all pending matters to avert further disruption to the economy.” The minister reiterated President Bola Tinubu’s government’s commitment to “always engage the organised labour and respond to its concerns after due consultation and negotiations.

The Federal Government has invited the Nigerian Labour Congress over the union’s plan to go on indefinite strike. Labour and Employment Minister Simon Lalong has invited them for discussions while the NLC is planning a nationwide shutdown owing to the removal of fuel subsidy and the hardship in the country. The Minister who directed the Department of Trade Unions Services and Industrial Relations to convene a meeting with the leadership of the Nigeria Labour Congress says it was important that the Unions sit with Government to resolve all pending matters to avert further disruption to the economy.” The minister reiterated President Bola Tinubu’s government’s commitment to “always engage the organised labour and respond to its concerns after due consultation and negotiations.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

Human Resources Minister V Sivakumar says Malaysia has taken action against 400 companies so far this year for violating labour laws. The ministry’s labour department issued fines totalling 2.17 million ringgit against 272 employers, while the courts fined 128 employers a combined 242,000 ringgit. Sivakumar says the labour violations included illegal wage deductions. The allegations of forced labour include debt bondage, excessive working hours, retention of passports and unhygienic dormitories.

Human Resources Minister V Sivakumar says Malaysia has taken action against 400 companies so far this year for violating labour laws. The ministry’s labour department issued fines totalling 2.17 million ringgit against 272 employers, while the courts fined 128 employers a combined 242,000 ringgit. Sivakumar says the labour violations included illegal wage deductions. The allegations of forced labour include debt bondage, excessive working hours, retention of passports and unhygienic dormitories.

Human Resources Minister V Sivakumar says Malaysia has taken action against 400 companies so far this year for violating labour laws. The ministry’s labour department issued fines totalling 2.17 million ringgit against 272 employers, while the courts fined 128 employers a combined 242,000 ringgit. Sivakumar says the labour violations included illegal wage deductions. The allegations of forced labour include debt bondage, excessive working hours, retention of passports and unhygienic dormitories.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

The UK, France and Germany are to retain sanctions on Iran in an attempt to deter Tehran from selling drones and missiles to Russia. In 2015 Iran agreed to a nuclear deal and, under the terms, some sanctions were due to be lifted next month. The European nations, however, believe Iran breached the deal by enriching and storing uranium. Iran says their move is illegal and provocative and clearly violated the terms of the nuclear deal. The European powers announced that they would incorporate expiring UN sanctions into their own laws. Some of the measures are supposed to stop Iran from developing and exporting ballistic missiles and drones.

The UK, France and Germany are to retain sanctions on Iran in an attempt to deter Tehran from selling drones and missiles to Russia. In 2015 Iran agreed to a nuclear deal and, under the terms, some sanctions were due to be lifted next month. The European nations, however, believe Iran breached the deal by enriching and storing uranium. Iran says their move is illegal and provocative and clearly violated the terms of the nuclear deal. The European powers announced that they would incorporate expiring UN sanctions into their own laws. Some of the measures are supposed to stop Iran from developing and exporting ballistic missiles and drones.

The UK, France and Germany are to retain sanctions on Iran in an attempt to deter Tehran from selling drones and missiles to Russia. In 2015 Iran agreed to a nuclear deal and, under the terms, some sanctions were due to be lifted next month. The European nations, however, believe Iran breached the deal by enriching and storing uranium. Iran says their move is illegal and provocative and clearly violated the terms of the nuclear deal. The European powers announced that they would incorporate expiring UN sanctions into their own laws. Some of the measures are supposed to stop Iran from developing and exporting ballistic missiles and drones.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

Almost 13,000 auto workers in the United States have stopped working after the United Auto Workers union launched a strike targeting all three of the country’s major car manufacturers for the first time in history. The strike, involving some 12,700 workers at three assembly plants in Michigan, Missouri and Ohio, is expected to halt production of popular car models including the Ford Bronco, Jeep Wrangler and Chevrolet Colorado. The UAW has demanded a 36 percent pay rise over four years and the elimination of a tiered salary scale that requires workers to put in eight years before being eligible for the same compensation as veteran employees. UAW President Shawn Fain says the union would not call a broader general strike for now, but all options would be on the table if new contracts are not agreed.

Almost 13,000 auto workers in the United States have stopped working after the United Auto Workers union launched a strike targeting all three of the country’s major car manufacturers for the first time in history. The strike, involving some 12,700 workers at three assembly plants in Michigan, Missouri and Ohio, is expected to halt production of popular car models including the Ford Bronco, Jeep Wrangler and Chevrolet Colorado. The UAW has demanded a 36 percent pay rise over four years and the elimination of a tiered salary scale that requires workers to put in eight years before being eligible for the same compensation as veteran employees. UAW President Shawn Fain says the union would not call a broader general strike for now, but all options would be on the table if new contracts are not agreed.

Almost 13,000 auto workers in the United States have stopped working after the United Auto Workers union launched a strike targeting all three of the country’s major car manufacturers for the first time in history. The strike, involving some 12,700 workers at three assembly plants in Michigan, Missouri and Ohio, is expected to halt production of popular car models including the Ford Bronco, Jeep Wrangler and Chevrolet Colorado. The UAW has demanded a 36 percent pay rise over four years and the elimination of a tiered salary scale that requires workers to put in eight years before being eligible for the same compensation as veteran employees. UAW President Shawn Fain says the union would not call a broader general strike for now, but all options would be on the table if new contracts are not agreed.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

A human rights NGO has criticised Kenya’s President William Ruto for failing to reduce human rights violations, after it documented a more than twofold increase in abuses since the beginning of Mr Ruto's presidency in September 2022. The Independent Medico-Legal Unit documented 482 cases of torture and related violations since last October, some 128 extrajudicial murders and three enforced disappearances. It says the victims are overwhelmingly young males, with minors aged 17 or younger accounting for 44 cases. The organisation says that the data implies that the president’s efforts to address police abuse and protect urban youth have fallen short.

A human rights NGO has criticised Kenya’s President William Ruto for failing to reduce human rights violations, after it documented a more than twofold increase in abuses since the beginning of Mr Ruto's presidency in September 2022. The Independent Medico-Legal Unit documented 482 cases of torture and related violations since last October, some 128 extrajudicial murders and three enforced disappearances. It says the victims are overwhelmingly young males, with minors aged 17 or younger accounting for 44 cases. The organisation says that the data implies that the president’s efforts to address police abuse and protect urban youth have fallen short.

A human rights NGO has criticised Kenya’s President William Ruto for failing to reduce human rights violations, after it documented a more than twofold increase in abuses since the beginning of Mr Ruto's presidency in September 2022. The Independent Medico-Legal Unit documented 482 cases of torture and related violations since last October, some 128 extrajudicial murders and three enforced disappearances. It says the victims are overwhelmingly young males, with minors aged 17 or younger accounting for 44 cases. The organisation says that the data implies that the president’s efforts to address police abuse and protect urban youth have fallen short.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

The Federal Government says it is currently working on the final details related to the United Arab Emirates visa issue. The Minister of Aviation and Aerospace Development, Festus Keyamo says it was crucial for airlines operating between Nigeria and the UAE to have reciprocal rights as per the Bilateral Air Services Agreements. He stressed the importance of balanced and fair treatment between the two countries. Keyamo assured that efforts were being made to ensure that the funds of foreign airlines were repatriated

The Federal Government says it is currently working on the final details related to the United Arab Emirates visa issue. The Minister of Aviation and Aerospace Development, Festus Keyamo says it was crucial for airlines operating between Nigeria and the UAE to have reciprocal rights as per the Bilateral Air Services Agreements. He stressed the importance of balanced and fair treatment between the two countries. Keyamo assured that efforts were being made to ensure that the funds of foreign airlines were repatriated

The Federal Government says it is currently working on the final details related to the United Arab Emirates visa issue. The Minister of Aviation and Aerospace Development, Festus Keyamo says it was crucial for airlines operating between Nigeria and the UAE to have reciprocal rights as per the Bilateral Air Services Agreements. He stressed the importance of balanced and fair treatment between the two countries. Keyamo assured that efforts were being made to ensure that the funds of foreign airlines were repatriatedThis show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement