Author: Chief Editor

Members of the Academic Staff Union of Universities (ASUU) yesterday warned the federal government against fresh crisis in the universities that would surpass all previous ones. The union, however, said the members cannot and would not continue to do free work that would not be remunerated. Speaking with journalists in Ilorin, Kwara State, shortly after a protest embarked on by the members of the union in University of Ilorin branch, the former ASUU Chairman of the university and a council member of the union, Professor Rasheed Adeoye, and the Secretary of the union in the university, Dr. Olatunji Abdulganiyu, described…

Cross River State Governor, Professor Ben Ayade, has stated that he is optimistic that a combined power generation from the two power plants built by his administration will add 50 megawatts of electricity capable of providing the state capital, Calabar, with steady supply even without being linked to the national grid. The governor stated this as he embarked on a tour of the power generating plant at Adiabo close to Tinapa Business and Leisure Resort in Calabar. While speaking at the 26 megawatts gas-fired power plants expected to be completed soon in Adiabo, he said: “The consistent generation of 26…

The market for fan tokens, a volatile cocktail of crypto and sport, is heating up in the desert of Qatar. Interest in this niche breed of cryptocurrencies, typically linked to sports teams like Barcelona or Brazil, has been charged up by the soccer World Cup which began on Nov. 20. Average daily trading volumes for these tokens have risen to around $300 million in November from $32 million the month before, according to Kaiko, a Paris-based crypto data firm. “So we have 10-fold increase in volume which is huge for these tokens,” said research analyst Dessislava Aubert. For some buyers,…

QatarEnergy and ConocoPhillips (COP.N) on Tuesday signed an agreement to export liquefied natural gas (LNG) to Germany for at least 15 years starting 2026, QatarEnergy’s CEO said. The deal will provide Germany with 2 million tonnes of LNG annually, arriving from Ras Laffan in Qatar to Germany’s northern LNG terminal of Brunsbuettel. “Germany represents the largest gas market in Europe … and we are committed to support its energy security,” Saad al-Kaabi said in a joint news conference with ConocoPhillips. [Reuters]

Kenya’s Centum Investment (CTUM.NR) plans to buy back up to 10% of its issued shares, it said on Tuesday after reporting a wider first-half loss. The group, which invests in listed firms and private companies, said it planned to buy the shares from the market over a period of 18 months at a maximum of 9.03 shillings per share and a minimum of 0.50 shillings. Centrum’s shares were trading at 8.00 shillings by 0723 GMT, up 1.3% on the day. “The share buyback is expected to provide liquidity to shareholders who may not have been able to trade due to the current…

The board of a Swiss-based trust fund managing some $3.5 billion in frozen assets seized after the Taliban took power last year is meeting in Geneva for the first time on Monday, a Swiss government spokesperson confirmed. The frozen central bank reserves were recently transferred from Washington into the ‘Fund for the Afghan People’ where U.S. officials say it will be shielded from the Taliban. The latter has condemned the transfer, calling it a violation of international norms. The agenda of the meeting is not yet public. The fund’s statutes says its purpose is to “receive, protect, preserve and disburse assets for the benefit…

Russia for the first time became the biggest fertilizer supplier to India in the first half of the 2022/23 fiscal year by offering discounts over prevailing global prices, cornering more than a fifth of the market share, government and industry sources said. India’s fertilizer imports from Russia surged 371% to a record 2.15 million tonnes in the first six months of the year started on April 1, a senior government official who was closely monitoring the imports, told Reuters. He declined to be named due to the sensitivity of the matter. In value terms, India’s imports during the period spiked…

Manchester United forward Cristiano Ronaldo took the world of football by storm with his bombshell interview with Piers Morgan. The forward’s words in the interview were highly critical of the Old Trafford hierarchy, the club’s infrastructure, former players, and current members of staff. This has seen the Red Devils consider legal action and take steps to kick Ronaldo out of Old Trafford. According to The Daily Mail’s football correspondent, Chris Wheeler, Manchester United have begun the process to remove Cristiano Ronaldo. They intend to sack the 37-year-old for “breach of contract, which will be torn up”, even though the superstar’s contract was set to…

Retail sales rise by 0.6% in monthly terms in October Increase is partial recovery from September Sales in September were affected by queen’s funeral Sales volumes remain below pre-pandemic level Consumer confidence improves in Oct but still near record low British retail sales staged only a partial rebound last month after shops closed in September for the funeral of Queen Elizabeth, and they remained below their pre-pandemic level as soaring inflation hits spending power. Retail sales volumes rose in October by 0.6% month-on-month, following a 1.5% drop in September. A Reuters poll of economists had pointed to a 0.3% rise…

World stocks were heading on Friday for a 1% loss on the week, drifting from recent two-month highs after U.S. Federal Reserve officials fired more warning shots on interest rates, while the U.S. bond yield curve priced for a recession. The dollar and bond yields rose after St. Louis Fed President James Bullard said interest rates might need to hit a range from 5-5.25% from the current level of just below 4.00% to be “sufficiently restrictive” to curb inflation. That was a blow to investors who had been wagering rates would peak at 5% and saw Fed fund futures sell off as markets priced…