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Foreign Affairs / Russia's Ruble Rebound Raises Questions Of Sanctions' Impact by SAKUR: 7:11am On Mar 31, 2022 |
But Russia’s oil and gas exports have continued to Europe as well as to China and India. Those exports have acted as an economic floor for the Russian economy, which is dominated by the energy sector. In the European Union, a dependence on Russian gas for electricity and heating has made it significantly more difficult to turn off the spigot, which the Biden administration did when it banned the relatively small amount of petroleum that the U.S. imports from Russia. “The U.S. has already banned imports of Russian oil and natural gas, and the United Kingdom will phase them out by the end of this year. However, these decisions will not have a meaningful impact unless and until the EU follows suit,” wrote Benjamin Hilgenstock and Elina Ribakova, economists with the Institute of International Finance, in a report released Wednesday. Hilgenstock and Ribakova estimate that if the EU, Britain and the U.S. were to ban Russian oil and gas, the Russian economy could contract more than 20% this year. That's compared with projections for up to a 15% contraction, as sanctions stand now. Knowing this, Putin has greatly leveraged Europe’s dependence on its energy exports to its advantage. Putin has called for Russia’s Central Bank to force foreign gas importers to purchase rubles and use them to pay state-owned gas supplier Gazprom. It’s unclear whether Putin can make good on his threat. The White House and economists have argued that the impact of sanctions takes time, weeks or months for full effect as industries shut down due to a lack of materials or capital or both. But the administration's critics say the ruble's recovery shows the White House needs to do more. “The ruble’s rebound would seem to indicate that U.S. sanctions haven’t effectively crippled Russia’s economy, which is the price Putin should have to pay for his war," said Sen. Pat Toomey, R-Pa. “To give Ukraine a fighting chance, the U.S. must sever Putin’s revenue stream by cutting off Russian oil and gas sales globally," Toomey said in an email to The Associated Press. Sen. Sherrod Brown, chairman of the Senate Banking, Housing and Urban Affairs Committee, said Wednesday that lawmakers are considering ways to expand the sanctions Biden recently imposed on members of the Russian parliament “and probably widen that to other political players.” Brown, D-Ohio, said lawmakers also are weighing more penalties against banks. Western leaders, under Biden's encouragement, embraced sanctions as their toughest weapon to try to compel Russia to reverse its invasion of Ukraine, which is not a member of NATO and not protected under that bloc's mutual defense policy. Some of the allies now acknowledge their governments may need to redouble financial punishment against Russia. British Prime Minister Boris Johnson said Wednesday that the Group of Seven major industrial nations should “intensify sanctions with a rolling program until every single one of (Putin's) troops is out of Ukraine.” But that's a tougher ask for other European countries such as Germany, which depend on Russia for vital natural gas and oil. The EU overall gets 10% of its oil from Russia and more than one-third of its natural gas. Many of those countries have pledged to wean themselves off that dependence — but not immediately. If European nations did move more quickly off Russian petroleum, wrote analyst Charles Lichfield of the Atlantic Council, “a more comprehensive embargo from Europe would threaten Russia’s current account surplus — suddenly making it more difficult to pay public-sector salaries and wage war.” He noted that “such an outcome may be beyond the reach of Western consensus.” —- Sweet reported from New York. AP Congressional Correspondent Lisa Mascaro contributed to this report. |
Business / Re: Invest And Earn Big In Haulage (truck) Business by SAKUR: 8:19am On Jul 27, 2019 |
jam04: Can you please send me the exact truck specification and type ? You can send to this email Thanks |
Business / Re: Invest And Earn Big In Haulage (truck) Business by SAKUR: 7:53pm On Jul 05, 2019 |
jam04: Will you accept Howo or You-tong trucks? Just asking for a friend. |
Business / Re: Invest And Earn Big In Haulage (truck) Business by SAKUR: 11:56am On May 25, 2018 |
jam04: I receive your email will respond very soon. |
Business / Re: Invest And Earn Big In Haulage (truck) Business by SAKUR: 9:39am On May 25, 2018 |
jam04: I Just email you . |
Business / Re: Invest And Earn Big In Haulage (truck) Business by SAKUR: 9:29am On May 24, 2018 |
jam04: I will contact you later today . |
Business / Re: Invest And Earn Big In Haulage (truck) Business by SAKUR: 9:14am On May 24, 2018 |
jam04: Yes we did exchange mail in the past .Please give me your email and phone number I will email or call you to have a private conversation with you. |
Business / Re: Invest And Earn Big In Haulage (truck) Business by SAKUR: 8:45am On May 24, 2018 |
jam04: I'm really interested in trucking business I just find it difficult trusting all this trucking management companies . |
Politics / Re: Yoruba Commonwealth and Politics by SAKUR: 4:41am On Nov 11, 2015 |
Politics / Re: Yoruba Commonwealth and Politics by SAKUR: 4:29am On Nov 11, 2015 |
Aareonakakanfo: Please, can you paste the links to the DAWN document for me. |
Politics / Re: Gold Mining And Northern Nigeria's Contribution To The Gdp by SAKUR: 9:55pm On Oct 26, 2015 |
galadima77: Good suggestion !but I doubt the 8 trillion Naira figure quoted in his statements . |
Politics / Re: See What Wole Soyinka Wrote About Fashola(pic) by SAKUR: 7:05pm On Oct 22, 2015 |
oduastates: |
Foreign Affairs / Re: The Lessons Of History And Of New Frontiers By Sergei Lavrov by SAKUR: 8:18pm On Sep 11, 2015 |
Appleyard: 1 Like |
Politics / FIRS To Audit Companies by SAKUR: 6:46pm On Sep 06, 2015 |
The Federal Inland Revenue Service on Sunday disclosed plans to carry out a special audit of all companies operating in the country. The audit, which will be carried out by the service in collaboration with Audit Firms and Tax Consultants, is aimed at increasing the level of compliance with the relevant tax laws, thus improving tax revenue for the country. A statement from the FIRS signed by the Director, Communications and Servicom Department, Mr. Emmanuel Obeta, explained that the decision to carry out the exercise was reached after a meeting between the Acting Executive Chairman, FIRS, Mr. Babatunde Fowler; and audit firms, chartered accountants, tax consultants and other professional Service providers. The statement stated that the audit would be carried out within 30 days and would take into consideration the various year ends and peak points of activities of the various companies. ADVERTISEMENTFowler, according to the statement, pointed out that the collaboration between the professional service providers, states board of internal revenue and FIRS, would mark a turning point for taxation as well as reduce the country’s reliance on oil. The statement reads in part, “The meeting focused on the need to harmonise exchange of information across all the revenue authorities as well as ensuring a synchronised auditing of all the various companies in the country. “At the end of their meetings agreed to share information with members of National Assembly, particularly on tax laws in collaboration with other professional bodies as well as relevant stakeholders. “They also resolved that FIRS, State Revenue Boards and the various audit firms will carry out joint audits of the various companies to ensure accuracy of the exercise, enhance transparency and drive compliance. “These audits will be completed within 30 days and will take cognisance of the various year ends and peak points of activities of the various companies.” Fowler, according to the statement, said the input from stakeholders was necessary for the expansion of the nation’s tax net, information dissemination, building capacity of tax administration as well as sharing information that would promote voluntary compliance. Through partnership and consultations with the relevant stakeholders, the Acting FIRS Boss said, there would be a significant improvement in tax revenue and tax administration http://www.punchng.com/news/firs-to-audit-companies/ |
Politics / NNPC Starts Refunding $1.48bn To Federation Account – Diezani by SAKUR: 5:14pm On Apr 22, 2015 |
The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, on Wednesday disclosed that the Nigerian National Petroleum Corporation has started refunding $1.48bn into the Federation Account as recommended by an audit firm, PriceWaterHouse Coopers. She however did not disclose how much has so far been refunded by the corporation. She also denied reports that she was seeking the assistance of some highly-placed persons in other to get soft landing from the incoming administration of Gen. Muhammadu Buhari (retd.). Alison-Madueke spoke with State House correspondents at the end of the weekly meeting of the Federal Executive Council at the Presidential Villa, Abuja. It will be recalled that the Federation Account Allocation Committee on Monday night constituted a committee to find out the reasons for the delay in the refund of the sum. PriceWaterHouse Coopers had in its forensic audit report of the corporation recommended that the NNPC should refund the amount to the Federation Account. The firm was last year hired to carry out the audit following an allegation by the former Governor of the Central Bank of Nigeria, Lamido Sanusi, that $20bn was not remitted to the Federation Account by the NNPC. PWC had stated in the report that while the total gross revenue generated from crude oil lifting was $69.34bn between January 2012 and July 2013 and not $67bn as earlier stated by the Senate Reconciliation Committee, what was remitted to the Federation Account was $50.81bn and not $47bn. The audit report revealed that $28.22bn was the value of domestic crude oil allocated to the NNPC, adding that total amount spent on subsidy for Premium Motor Spirit was $5.32bn. Alison-Madueke however explained that the unremitted fund was owed by NPDC for a block that had been assigned from NNPC to NPDC. She said, “The PriceWaterHouse Coopers forensic audit that was done a few weeks ago, in its recommendation mentioned that $1.48bn was owed by NPDC for a block that had hitherto been assigned from the NNPC to NPDC which is its subsidiary. “They felt that the right process would be that NPDC will refund that money to the Federation Account. NPDC has apparently started those refunds and it is also in discussion with NNPC and DPR on same. So the refund has actually begun.” While saying that the payment was being done under her directives, she insisted that the sum was not missing but transferred by the NNPC to NPDC which is a subsidiary. - See more at: http://www.punchng.com/news/nnpc-starts-refunding-1-48bn-to-federation-account-diezani/#sthash.LAmgdhsd.dpuf |
Politics / Dangote Pledges Early Completion Of Refinery, Others by SAKUR: 6:15pm On Feb 09, 2015 |
Dangote Group has said that its current focus is to increase the pace of the development of its multi-billion dollar new businesses to meet completion timelines. The group in a statement added that efforts were being made to put in place, infrastructure for business projects including refinery, gas, fertilizer and rice production. The Group’s Executive Director for Strategy, Portfolio Development and Special Project, Mr. Devakumar Edwin, was quoted to have told international business cable television channel, CNBC over the weekend in Lagos that the company was out to ensure the businesses came on stream as planned. According to Edwin, a few of the new businesses has been redesigned for increased capacity, adding that inflation, exchange rate and increased bank interest rate notwithstanding, the management plans to bring all the businesses on stream as earlier planned. Edwin said the Dangote Group business models were developed to be one of the biggest if not the biggest in the world and that new technologies employed by the company gave it advantage over others. He said, “We are building 650,000 barrels per day oil refinery which will be the largest in the world, and our planned rice production would also be the largest in the world. “We do all these because we believe in Nigeria, we believe in her potential and we believe in her economy. We draw our business model with exportation in mind. We believe Nigeria can be self-sufficient and even produce for foreign market.” He said that with the country’s large population and the population of many other African countries, the group’s target was exportation. “That is why we build all our business models with exportation in mind. We had to review the capacity of our planned refinery and increase it. We have never hesitated to have big plants and that is why we deploy latest technologies in their set-up,” he said. http://www.punchng.com/business/business-economy/dangote-pledges-early-completion-of-refinery-others/ |
Politics / How APC Will Provide Steady Electricity - Osinbajo by SAKUR: 6:26pm On Jan 18, 2015 |
The Vice Presidential candidate of the All Progressives Congress, Prof. Yemi Osinbajo, says an APC-led Federal Government can provide steady power supply by installing Independent Power Projects in strategic parts of the country.http://www.punchng.com/news/how-apc-will-provide-steady-electricity-osinbajo/ 73 Likes 7 Shares |
Politics / Government Clueless, Nigeria Needs Rescue, Says Okogie by SAKUR: 7:31pm On Jan 15, 2015 |
A former Catholic Archibishop of Lagos, Anthony Cardinal Okogie, on Thursday said the present government in Nigeria is clueless. Okogie said that the country needed an urgent rescue from what he described as “imminent brink of irredeemable destruction.” The cleric therefore called on all Nigerians to wake up from their slumber and face the reality by electing into the position of leadership only persons “who know what to do.” He added that effort must be made to educate the average Nigerian to choose their leader based on capability and not on the basis of ethnic or religious affiliations. Okogie spoke in Lagos at the 11th edition of the Gani Fawehinmi Annual Lecture/Symposium, where he was the chairman of the occasion. He decried the present prevalent insecurity in the country and the nation’s economic woes. Okogie said, “There is extra urgency to rescue Nigeria. This is the time when every right thinking Nigerian must pray to hate the present situation strong enough such as to desire the fortitude to act right. “This time does not allow for indifference. All must rise to save Nigeria from the brink of irredeemable destruction. This is the time we must play politics of the best, for the best position, in order to guarantee the best for our nation. Let only those with the fear of God and love of their neighbours lead Nigeria; only those who know what to do should sit at the helms of affairs. Enough of mediocrity, enough of failures, enough of nepotism, enough of ethnicity.” Okogie, while describing the late Fawehinmi, a human rights lawyer, as courageous, principled, selfless and a detribalised statesman, said he was sure that Fawehinmi was now restless in his grave at the present state of the nation. http://www.punchng.com/news/government-clueless-nigeria-needs-rescue-says-okogie/ 2 Likes 1 Share |
Autos / Re: ****Lightening Fast RO/RO Vehicle Shipping From Any U.S Location Made Easy***** by SAKUR: 9:32pm On Jan 02, 2015 |
FastShipping: I will be shipping four cars do you have any discount for that ? |
Autos / Re: ****Lightening Fast RO/RO Vehicle Shipping From Any U.S Location Made Easy***** by SAKUR: 9:25pm On Jan 02, 2015 |
FastShipping: So you ship out of Florida? |
Autos / Re: ****Lightening Fast RO/RO Vehicle Shipping From Any U.S Location Made Easy***** by SAKUR: 9:13pm On Jan 02, 2015 |
Can you ship cars from Oakland California ? Please send me the rates . Thanks |
Foreign Affairs / Putin Says United States Will Never 'subdue' Russia by SAKUR: 10:08pm On Nov 18, 2014 |
MOSCOW (Reuters) - The United States wants to subdue Moscow, but will never succeed, Russian President Vladimir Putin said on Tuesday. "They do not want to humiliate us, they want to subdue us, solve their problems at our expense," Putin said at the end of a four-hour meeting with his core support group, the People's Front. "No one in history ever managed to achieve this with Russia, and no one ever will," he said, triggering a wave of applause. Putin's tough talk reflected the strain in ties between Moscow and Washington, who are at loggerheads over the crisis in Ukraine, where the West has accused Russia of promoting and arming a separatist rebellion. During the meeting, Putin repeatedly urged Russian firms, including in the agricultural and defense sectors, to boost their sales on domestic markets following tit-for-tat sanctions with West triggered by the row over Ukraine. Putin fielded a range of questions during the event, on everything from the sales of blood glucose meters to housing problems, with the Russian leader stressing his determination to improve the economy which is straining under the sanctions. |
Foreign Affairs / Despite Concerns, US Restocks Israel With Ammunition by SAKUR: 8:47pm On Aug 01, 2014 |
Washington (AFP) - The United States confirmed it had restocked Israel's supplies of ammunition, hours after finally sharpening its tone to condemn an attack on a United Nations school in Gaza. Obama tells Israel Gaza truce needed as conflict rages AFP Netanyahu: Israel can lose on PR but not security Associated Press Israel, Palestinian militant groups agree to three-day Gaza truce Reuters Gaza toll tops 800, four Palestinians killed in West Bank AFP Lawmakers try to seal $225M aid package for Israel Associated Press But while both the White House and the State Department condemned the shelling of the UN-run school in the Jabaliya refugee camp in northern Gaza in which at least 16 Palestinians were killed, neither would assign blame to staunch US ally Israel. "Obviously nothing justifies the killing of innocent civilians seeking shelter in a UN facility," deputy State Department spokeswoman Marie Harf acknowledged, in some of the toughest US comments since the start of the 23-day fighting in the Gaza Strip. "Innocent Palestinians seeking refuge in these schools should not have shells dropped on them, should not come under attack." The UN agency for Palestinian refugees UNRWA said Israeli forces had hit the school, which had been sheltering some 3,300 Gazans. But despite heated exchanges with reporters, Harf stressed that "we don't know for certain who shelled this school, we need to get all the facts." National Security Council spokeswoman Bernadette Meehan also condemned "those responsible for hiding weapons in United Nations facilities in Gaza" and warned of rising fears that thousands of Palestinians who have been told by Israel to leave their homes increasingly had nowhere to go in the blockaded narrow coastal strip. US officials also warned that patience with "crazy" Israeli criticism of would-be-peacemaker John Kerry had snapped. - New ammunition for Israel - The Pentagon confirmed the Israeli military had requested additional ammunition to restock its dwindling supplies on July 20, with the US Defense Department approving the sale just three days later. "The United States is committed to the security of Israel, and it is vital to US national interests to assist Israel to develop and maintain a strong and ready self-defense capability," Pentagon spokesman Rear Admiral John Kirby said in a statement. .. View gallery Israeli artillery fires a 155mm shell towards targets … Israeli artillery fires a 155mm shell towards targets in the Gaza Strip from their position near Isr … "This defense sale is consistent with those objectives." Two of the requested munitions came from a little-known stockpile of ammunition stored by the US military on the ground in Israel for emergency use by the Jewish state. The War Reserve Stockpile Ammunition-Israel is estimated to be worth $1 billion. The decision to provide ammunition to Israel could fuel controversy, coming just as Washington expresses growing concern about the deaths of more than 1,300 Palestinians, most of them civilians, since the Israeli operation began on July 8. Kirby said Pentagon chief Chuck Hagel told his Israeli counterpart that the United States was concerned about the deadly consequences of the spiraling conflict, including a "worsening humanitarian situation" in Gaza, and called for a ceasefire and end to hostilities. He also renewed calls for the disarmament of Gaza's Hamas rulers and "all terrorist groups." Relations between Israel and its staunch ally the United States have plunged in recent days after Kerry returned from a mission to the Middle East to try to broker a ceasefire between the Israelis and Hamas militants. Anonymous Israeli officials have hit out at Kerry's truce proposal, calling it "a strategic terrorist attack" and criticizing it for being a "Hamas wish-list" including moves to lift a long-standing Israeli blockade of Gaza while failing to address Israel's security concerns, such as Hamas rocket fire and a network of underground tunnels. And on Tuesday a fabricated transcript of a call between US President Barack Obama and Israeli Prime Minister Benjamin Netanyahu went viral on social media. - Out to hurt ties? - Stressing the "unprecedented" US support for the Jewish state, Harf hit out at Israeli elites' "offensive and absurd" claims that Kerry backs Hamas. She rubbished the fake transcript as "complete crap," adding "there's clearly people... who are putting out false and defamatory and absurd information." "I don't know what else you can assume about the intentions except that they’re designed to hurt our relationship," she added. Washington, which has provided billions in military aid to Israel, including funding the Iron Dome shield protecting the country from Hamas rockets, was "very committed" to the security of the Jewish state, which is "why these vicious attacks on the secretary are just crazy," she added. And US lawmakers are working on a package of additional military support from Washington to commit $225 million for the Iron Dome missile defense shield. More than 100 people died in Israeli strikes across Gaza Wednesday, medics said, including 17 at a crowded marketplace, sending the Palestinian toll from the 23 days of fighting to 1,363. On the Israeli side, the conflict has cost the lives of 56 Israeli soldiers, and two civilians. http://news.yahoo.com/us-restocks-israel-ammunition-015126465.html |
Foreign Affairs / G-7 Nations Said To Oppose New World Bank Russia Projects by SAKUR: 8:38pm On Aug 01, 2014 |
. . . . . .. . . Compare Brokers .. . G-7 Nations Said to Oppose New World Bank Russia Projects . Bloomberg By Sandrine Rastello and Helene Fouquet 2 hours ago Group of Seven countries will vote against new World Bank projects in Russia to punish Vladimir Putin's regime, according to three government officials with knowledge of the agreement. The action, which puts at least $1.5 billion of contemplated World Bank projects in Russia at risk, was decided by deputy finance ministers from the G-7 during a conference call last week, according to two of the officials, who spoke on the condition of anonymity because the call wasn't public. More from Bloomberg.com: Argentina Declared in Default by S&P as Talks Fail The move dovetails with new rounds of sanctions targeting Russia's banking, energy and defense industries as the U.S. and European Union this week stepped up economic pressure on Russia over its actions in Ukraine. Russia's finance ministry received no official information, according to its press office. The World Bank will have trouble getting approval for projects in the face of opposition from the G-7, which has more than 40 percent of votes on the bank's board, said Scott Morris, a former deputy assistant secretary for development finance and debt at the U.S. Treasury Department. More from Bloomberg.com: Why Putin Has 2006 Flash Before His Eyes After Sanctions "It will be very difficult for management to contemplate proceeding with anything that requires board approval," said Morris, a senior associate at the Center for Global Development, an aid research group in Washington. World Bank spokesman David Theis declined to comment. The G-7 groups France, Germany, Italy, the U.K., the U.S., Canada and Japan. The U.S. and Canada last week said they would oppose new World Bank projects in Russia. More from Bloomberg.com: Argentina Unopposed to Bank Deal With Hedge Funds Energy, Education The World Bank unit that lends directly to governments, the International Bank for Reconstruction and Development, has nine Russian projects in preparation worth $1.34 billion, including one on pre-school education and another focused on energy efficiency, according to its website. Already approved and in progress are 10 other projects worth $668 million, though less than half of the total has been disbursed, according to the bank. The bank's arm that lends to private companies, the International Finance Corp., has four projects in the works valued at as much as $154 million. Among them are a loan of $60 million to a Russian-based consumer finance subsidiary of Paris-based Societe Generale SA, to support loans for environmentally friendly cars. Development aid has already figured in the arsenal of economic measures aimed at Russia, which is accused of arming and training separatist rebels in Ukraine after annexing Crimea. The European Bank for Reconstruction and Development last week bowed to its shareholders and said it's halting new Russia projects after a majority indicated it would not support them. Grocery Chain The World Bank already was thrust into discussions over how to use economic sanctions to punish Russia. The lender on May 29 approved parts of a 250 million euro ($335 million) package enabling French grocery retailer Groupe Auchan SA to expand in Russia, Vietnam and other emerging markets. Canada voted against it, while the U.S. and some EU countries abstained. World Bank President Jim Yong Kim tried to keep his institution outside of the debate last week, saying the bank has a good relationship with both Ukraine and Russia. "We are going to continue to focus on trying to provide the kind of support and advice that will help both of those countries in responding to issues of poverty," he said in a July 22 interview in the southern Indian city of Chennai. "It is extremely important for the world community to have an organization that remains apart from the politics and focuses on economics." http://finance.yahoo.com/news/g-7-nations-said-oppose-040000526.html |
Agriculture / Re: Processing Of AgroProducts:Your FastLane To Making Millions And Wealth. by SAKUR: 1:48pm On Jul 10, 2014 |
Lesgupnigeria: From my previous articles,i analysed how agriculture will be the mainstay of our economy in the nearest future.How our major buyers of oil will look else where for oil ( US our major buyer have stopped buying oil from Nigeria and have started drilling and exporting shale oil and Gas) I just email you .... Thanks |
Agriculture / Re: Starting A Profitable Flour Business by SAKUR: 8:21pm On Jul 07, 2014 |
Lesgupnigeria: Processing of Agro-Commodities:The Fast Lane To Making Millions and Wealth....coming soon. Can you paste your email ID here? I have some questions for you.. |
Investment / Re: 2013 End Of The Year Report From Penthouse Industry Limited(haulage Division). by SAKUR: 6:20pm On Jan 04, 2014 |
jam04: Hello Missktinz, Hey I send an email to (olulay@yahoo.com) Please reply me.. |
Politics / Ibori Hid Assets In Oando - British Prosecutor by SAKUR: 4:56pm On Sep 16, 2013 |
LONDON (Reuters) - Jailed former Nigerian oil state governor James Ibori hid some of his assets in the oil firm Oando and money passed from the company's accounts to Ibori's Swiss accounts, a British prosecutor told a court on Monday. http://news.yahoo.com/jailed-ex-governor-hid-assets-nigerias-oando-british-140444006--finance.html 1 Like |
Politics / Re: Bunmi Awoniyi's Investiture Ceremony: Pictures & Videos by SAKUR: 8:55pm On Feb 02, 2013 |
Good one.... I live in Sacramento and nobody invited me?? |
Food / Re: African Soup In A Bag by SAKUR: 4:29pm On Sep 19, 2012 |
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