Tuesday, September 25, 2018

Tag "China"

    China launches first unmanned cargo spaceship

China launches first unmanned cargo spaceship

China successfully launched its first unmanned cargo spaceship on Thursday, taking the country one step closer to building its own space station.The Tianzhou 1 blasted off from China's newest launch site, Wenchang.The craft will carry out scientific experiment after reaching the Tiangong 2 space station.Speaking at the launch, Zhang Xueyu, launch site commander said, "I hereby declare that the Tianzhou [...]

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    China worried by North Korea’s threats of missile tests, nuclear war

China worried by North Korea’s threats of missile tests, nuclear war

China’s foreign ministry said on Wednesday that it was seriously concerned by recent comments made by North Korean officials warning of further missile tests and the possibility of nuclear war.Addressing a press briefing, ministry spokesperson Lu Kang added that China was resolutely opposed to any words or actions that could further raise tensions.NAN reports that China on Tuesday called on [...]

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    China jails official who bribed presidential aide

China jails official who bribed presidential aide

A court in northern China has sentenced a former senior provincial government official who bribed a now disgraced former aide to retired President Hu Jintao to 20 years imprisonment.“The court in Tianjin found that Pan Yiyang abused his positions as vice governor of the northern region of Inner Mongolia and Communist Party boss of Ganzhou in the eastern province of [...]

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    China to build $1.5bn shoe industry in Aba

China to build $1.5bn shoe industry in Aba

Okezie Ikpeazu, Abia state governor, has secured a $1.5bn deal for the establishment of a shoe industry in Aba from Huajian Shoe Industry in Dongguan, Guangzhou, China.Enyinnaya Appolos, chief press secretary of the governor, disclosed this in a statement on Sunday.According to him, Ikpeazu secured the deal at a meeting with Zhang Huarong, group chairman of the Huajian Group in [...]

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    US claims Russia tried to cover up Syria chemical attack

US claims Russia tried to cover up Syria chemical attack

The administration of US President Donald Trump has accused Russia of trying to shield Syria’s government from blame for a deadly gas attack.Trump, who has faced criticism for lacking a broader strategy to deal with the Syria crisis, insisted he has no plans to “go into” the war-torn country.Senior White House officials, briefing reporters on condition of anonymity, said Assad’s [...]

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    Trump says ‘North Korea looking for trouble’, urges China to help

Trump says ‘North Korea looking for trouble’, urges China to help

US President Donald Trump on Tuesday warned North Korea, saying the country is looking for "trouble".Trump, on his Twitter handle, threatened to solve the North Korean problem alone should China fail to intervene."North Korea is looking for trouble. If China decides to help, that would be great. If not, we will solve the problem without them," Trump tweeted.The US president [...]

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    Amnesty: China executed more people than all other countries in 2016

Amnesty: China executed more people than all other countries in 2016

The Chinese government is the world’s leading executioner, according to Amnesty International’s 2016 global review of the death penalty.China outranks Iran, Saudi Arabia, Iraq, Pakistan and Vietnam, while putting to death more people annually than all other countries combined.At least 1,032 people were executed in 23 countries in 2016. In 2015 Amnesty International recorded 1,634 executions in 25 countries worldwide [...]

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    Xi-Trump Summit in the spotlight the week ahead

Xi-Trump Summit in the spotlight the week ahead

The US dollar bulls finally regained some control of the market after three weeks of consecutive declines. Nonetheless, despite a 1% rally last week, the dollar index suffered 1.9% declines in the first quarter. The weakness in the greenback may be attributed to multiple factors, but the major one was the tax reform uncertainty. The failure to pass the healthcare [...]

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    China bans long beards, veils in public places

China bans long beards, veils in public places

China is intensifying its crackdown against what it deems religious extremism in the far-west province of Xinjiang, which is home to 10 million Muslims.To ensure this was achieved, authorities have ordered that people would no more wear long beards, no more wearing of veils in public places and there would be no home-schooling.The latest measures outlined in a sweeping new [...]

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    China to US: Be cool-headed over North Korea missile tests

China to US: Be cool-headed over North Korea missile tests

Wang Yi, China’s foreign minister, has urged the United States to remain “cool-headed” over North Korea's missile tests and tensions in Asia.The situation was at a crossroads, but must not be allowed to develop into a conflict, he said after hosting Rex Tillerson, US secretary of state.Tillerson spoke of “dangerous levels” of tension, a day after suggesting the US might [...]

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    China’s investments in Nigeria ‘exceed’ $13 billion

China’s investments in Nigeria ‘exceed’ $13 billion

China's investments in Nigeria have exceeded $13 billion, Chinese deputy ambassador to the country, Lin Jing, has said.The Chinese envoy said this was the figure at the end of 2016.Jing made this known when he led a delegation to the national assembly to strengthen bilateral ties between Nigeria and China, The Nation reports.The envoy said the $1.3billion Lagos-Ibadan railway project was [...]

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    Osinbajo flags off Lagos-Ibadan line, says national rail project will create 500,000 jobs

Osinbajo flags off Lagos-Ibadan line, says national rail project will create 500,000 jobs

Acting President Yemi Osinbajo has flagged off the Lagos-Ibadan standard guage railway line, stating that the national rail project will create half-a-million jobs.Speaking at the ceremony in Lagos, Osinbajo said the project is one very close to the heart of President Muhammadu Buhari, who renegotiated the project with the Chinese, back in 2016.The acting president said the rail line is [...]

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    China’s FX reserves hit $3trn…leaves US, Japan in its dust

China’s FX reserves hit $3trn…leaves US, Japan in its dust

China’s foreign exchange reserves unexpectedly rose for the first time in eight months, rebounding above $3 trillion as a regulatory crackdown and weakness of the dollar.Reserves rose $6.92 billion in February to total $3.005 trillion, their first increase since June 2016, compared with a drop of $12.3 billion in January, when reserves fell to $2.998 trillion.Japan comes in next with [...]

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    China’s ex-supreme court judge bags life sentence for corruption

China’s ex-supreme court judge bags life sentence for corruption

A Chinese court on Thursday sentenced Xi Xiaoming, a former senior judge of supreme people’s court, to life imprisonment after being indicted for corruption.A court in the northern city of Tianjin found him guilty of accepting 115 million Yuan ($16.78 million) in bribes between 1996 and 2015.A member of the ruling Chinese Communist party for 40 years, Xiaoming was accused [...]

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    Iran vows to destroy US fleet if ‘the enemy makes a mistake’

Iran vows to destroy US fleet if ‘the enemy makes a mistake’

Iran has backed up its provocative military drills with threats to destroy the US 5th fleet based in Bahrain.The Middle East country has said its "roaring missiles" will raze the fleet to the ground "if the enemy makes a mistake."Of late, Iran has conducted military exercises and rolled out new weapons that its leaders said would help strengthen national defence.Hossein [...]

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    A case for China and Nigeria’s crude

A case for China and Nigeria’s crude

BY MOHAMMED JAMU YUSUFRecently, the minister of state for petroleum, Ibe Kachikwu, signed a fresh oil deal with the Italian oil giant, Eni. Many Nigerians consider this move curious given the controversies that trailed Eni’s involvement in the Malabo oil deal.The Italian firm’s purchase of OPL 245 off-shore field in 2011 at the cost of $11b resulted in allegations of [...]

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Exchange Rates

September 24, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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