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List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo - Politics - Nairaland

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Everything Crashing Under Buhari Even MMM / Ikengawo's Collection Of Excuses For Buhari As Our Economy Collapses / Why Power Supply Improved Under Buhari, By Nebo (2) (3) (4)

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List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by Ikengawo: 11:50pm On Nov 09, 2015
I challenge anyone to post me examples of Job creation. I am not saying they don't exist though I believe this, I am simply laying the evidence before you to make your own conclusion as a voter.





November
Nigeria: Virgin Atlantic May Have Pulled Out of Nigeria, Sacks Nigerian Staff

Quote: "We fought daily battle against government agents who wanted to daily make fortune from us, politicians who saw the government 49 per cent as a meal to seek for all kinds of favour... watchdogs (regulatory body) that didn't know what to do and persistently asking for bribes at any point... Nigerian people are generally nice but the politicians are very insane... that may be irony because the people make up the politicians."
http://allafrica.com/stories/201511090151.html

Honeywell Flour Mills reports 66.27% decline in full year profit
https://trwstockbrokers./2015/08/03/honeywell-flour-mills-reports-66-27-decline-in-full-year-profit/

October
Guinness Nigeria suffers 76% profit decline
http://businessnews.com.ng/2015/10/24/guinness-nigeria-suffers-76-profit-decline/

Lafarge Africa’s profit dips amidst slow sales in Q3
http://thenationonlineng.net/lafarge-africas-profit-dips-amidst-slow-sales-in-q3/

Unilever Nigeria : FMCG Companies Suffer Half-Year Profit Decline
http://www.4-traders.com/UNILEVER-NIGERIA-PLC-8252801/news/Unilever-Nigeria--FMCG-Companies-Suffer-Half-Year-Profit-Decline-21155149/

First Aluminium Nigeria records 21.8 % profit decline
http://worldstagegroup.com/index.php?active=news&newscid=25451&catid=30

AIICO INSURANCE PLC: Decline in profits
http://www.pressreader.com/nigeria/thisday/20151108/281827167647336/TextView

Facts behind Diamond Bank’s 12percent profit decline in H1 2015
http://www.transparentnigeria.com/news_entries/24294/Facts-behind-Diamond-Bank%E2%80%99s-12percent-profit-decline-in-H1-2015

Cadbury Nigeria Records 98% Dip in Nine Months Profit
http://www.thisdaylive.com/articles/cadbury-nigeria-records-98-dip-in-nine-months-profit/222822/

HoneyWell Flourmills Records Profit Decline in Half Year 2015
http://www.bullsnbearsng.com/2015/10/honeywell-flourmills-records-profit.html

PZ Cussons: A corporate giant on the decline
http://newmail-ng.com/pz-cussons-a-corporate-giant-on-the-decline

September
Mobil Oil Nigeria records 39% profit decline
Quote: The financial results of the company for the period ended 30th September 2015 published by theNigerian Stock Exchange today showed that profit before tax fell 33.5 per cent
http://naija247news.com/2015/10/mobil-oil-nigeria-records-39-profit-decline/

August
MTN’s Profit Declines as Sales Fall in Nigeria, South Africa
http://www.bloomberg.com/news/articles/2015-08-05/mtn-profit-declines-11-as-sales-fall-in-nigeria-south-africa

Nestle Nigeria records 50.8% profit decline in Q1
http://nationalmirroronline.net/new/nestle-nigeria-records-50-8-profit-decline-in-q1/

41 Likes 9 Shares

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by Ufranklin92(m): 11:53pm On Nov 09, 2015
nzogbu di grin

55 Likes 5 Shares

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by Nobody: 11:55pm On Nov 09, 2015
It's can't be true

2 Likes 2 Shares

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by Ikengawo: 11:56pm On Nov 09, 2015

9 Likes 1 Share

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by mazzi: 11:57pm On Nov 09, 2015
Chai,but we warned them about bubu but they didn't heed to our advice

202 Likes 16 Shares

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by DFemaleBoss(f): 12:02am On Nov 10, 2015
Buhari has brought nothing but bad luck to Nigeria.

130 Likes 11 Shares

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by Ikengawo: 12:03am On Nov 10, 2015
[size=25pt]Economic crisis: Foreign investors cut commitment at Nigeria Stock Exchange[/size]



Activities of foreign portfolio investors, the main drivers of the Nigeria Stock Exchange (NSE), dipped significantly in September, as the nation’s economic and financial challenges persisted.

An analysis of foreign portfolio investments (FPI) at the NSE in September indicated a significant decline of 14. 5 per cent, amid moves by some quoted multinationals to delist from the 55-year-old bourse.

Monthly analysis of transactions at the NSE showed that foreign portfolio investment dipped to N69.33 billion (about35 million dollars) in the period under review compared with N81.13 billion (about 41million dollars) recorded in August.

The data showed that domestic investors’ transactions decreased to N60.59 billion compared with N64.56 billion recorded in August.

A further analysis of the September trading also showed that FPI invested N29.26 billion or 22.52 per cent of total transactions while they repatriated about N40.07 billion or 30.84 per cent, from both dividends and capital gains.

An insight from the market based transaction in the same period of 2014 showed that FPI transactions decreased by 69.42 per cent whilst domestic transactions fell by 79.53 per cent.

Overall, the NSE data indicated that N1.56 trillion was so far invested in nine months in the nation’s bourse.

A further breakdown indicates also that FPI committed N846.92 billion in the Nigerian capital market between January and September compared with N713.51 billion invested by domestic retail investors.

http://www.premiumtimesng.com/business/banking-and-finance/192692-economic-crisis-foreign-investors-cut-commitment-at-nigeria-stock-exchange.html

33 Likes 4 Shares

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by Nobody: 12:08am On Nov 10, 2015
Let me think differently. What is those multi nationals were corruptly enriching themsevles before now? Their profits are bound to dwindle if someone serious takes over. But I don't mean the president is serious anyway. Personally, Forex restrictions has dwindled my profit by over 70% and I hold the president responsible$

112 Likes 5 Shares

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by abe4kom: 12:08am On Nov 10, 2015
Chai, see wahala

3 Likes 3 Shares

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by Ikengawo: 12:16am On Nov 10, 2015
Logician:
Let me think differently. What is those multi nationals were corruptly enriching themsevles before now? Their profits are bound to dwindle if someone serious takes over. But I don't mean the president is serious anyway. Personally, Forex restrictions has dwindled my profit by over 70% and I hold the president responsible$


LMFAO, true Logician
[img]http://media./media/G1Zu26ae7mZr2/giphy.gif[/img]
supporter of APC economics

207 Likes 21 Shares

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by basilo101: 12:21am On Nov 10, 2015
Yorubas keep bragging that they can survive without oil because of multinationals in Lagos, nw oil price and they are all losing, hw cn dey cope with Tinubu's overtaxation to keep sustain Lagos economy? Jst watch, only indegenous companies mainly in d east have d resilience to withstand this

168 Likes 11 Shares

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by Nobody: 12:25am On Nov 10, 2015
yes yes soon MTN will exit, then shell and others and our sofisticates will go back to cocoa farming.......................... we are independent already........... we arE BIAFRANS

114 Likes 5 Shares

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by Ikengawo: 12:28am On Nov 10, 2015
Can you believe a Janja wee di in here said it's because Buhari was fighting corruption LOL

69 Likes 4 Shares

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by investnow2013: 12:29am On Nov 10, 2015
basilo101:
Yorubas keep bragging that they can survive without oil because of multinationals in Lagos, nw oil price and they are all losing, hw cn dey cope with Tinubu's overtaxation to keep sustain Lagos economy? Jst watch, only indegenous companies mainly in d east have d resilience to withstand this
We should always know that these Muiltinational companies are there just for profit and if not, they will cut & run!.Our Indigeneous companies have no way to run, but Nigeria!!!!!

14 Likes

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by pus24: 12:33am On Nov 10, 2015
Things will pick up I. The first quarter

7 Likes

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by Ikengawo: 12:38am On Nov 10, 2015
[size=20pt]Inflation compounds Nigeria’s economic woes [/size]


By Emeka Anaeto, Economy Editor

Nigeria’s economy may be heading to stagflation going by headline inflation, gross domestic products, GDP, and unemployment reports of National Bureau of Statistics, NBS, as well as feelers from the Central Bank of Nigeria, CBN, and economy analysts last weekend.

Stagflation is an inflationary period accompanied by rising unemployment and declining economic growth rate. All these factors inherent in an economy of stagflation are already within the Nigerian economy as indicated by the various reports.

NBS report, last week, indicated a sustained inflationary pressure rising to 9.4 percent in the month of September, with economy analysts pointing to a double digit by next quarter.

Also, NBS report shows a steady decline in GDP as in the first quarter of 2015, Nigeria’s GDP growth rate declined by 1.98 percentage point to 3.96 percent in real terms, year-on-year, and lower by 2.25 percentage points from the corresponding quarter of 2014.

The GDP rate declined further to 2.35 percent in the second quarter.

Job losses

Photo: toonpool

In its Unemployment/ Underemployment Watch report for second quarter, NBS said the number in full employment decreased by 1,317,700, explaining that “a drop in number of full employment, despite a rise in the labour force (number of people available for work) can be attributed more to job losses or previously fully employed persons choosing or being forced to work part time or in underemployment.”

Analysing the NBS inflation report, weekend, economists at Afrinvest Group, a Lagos-based financial institution, said: “The slowing GDP growth coupled with the rising inflation is a situation which best describes the economy as being in a period of stagflation.

“At 9.4 percent, headline inflation rate has moved further away from the 6.0 – 9.0 percent target band of CBN, while also inching closer to the double digit mark.”

Forex effect

According to the group, the rising price level stems from the recent weakening macro-economic fundamentals around foreign exchange prices, which have had debilitating impact on the cost of production and prices of goods and services.

“Whilst CBN is still committed to stabilizing aggregate price level in the economy through its monetary policy tools, our analysis of the macro-economic ambience suggests that the apex bank may not be employing a major tool to curtail mounting pressure on prices in the near term.

“In addition, the slowing GDP growth coupled with the rising inflation (a situation which best describes the economy as being in a period of stagflation) places the monetary authority in a situation of dilemma in using a major policy tool such as Monetary Policy Rate, MPR, in addressing price and output concerns.

“Hence, the need to stick to an objective — we think the CBN would prefer the former.”

CBN’s assurance

Despite the growing concerns over the impact of declining revenue resulting from low oil prices for over a year, CBN Governor, Mr. Godwin Emefiele, has said the economy was not heading towards recession, adding that the current dip in the nation’s revenue was a global development, which is not peculiar to Nigeria.

According to the National Bureau of Economic Statistics, NBES, economic recession is a situation of significant decline in activity across the economy, lasting longer than a few months.

It is visible in industrial production, employment, real income and wholesale-retail trade.

The technical indicator of a recession is two consecutive quarters of negative economic growth as measured by a country’s GDP, although the NBES does not necessarily need to see this occur to call a recession.

Emefiele, who spoke at the end of the IMF/World Bank annual meetings in Lima, Peru, last week, said rather than interpreting some of the recent monetary and foreign exchange policies by CBN as a sign of an economy sliding into recession, the challenge before Nigerians was to accept the policies as a way of reversing declining revenue.


http://www.vanguardngr.com/2015/10/inflation-compounds-nigerias-economic-woes/

4 Likes 2 Shares

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by Ikengawo: 12:41am On Nov 10, 2015
pus24:
Things will pick up I. The first quarter

LOL for Nigeria or Country of Western Nigeria?

44 Likes 1 Share

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by 400billionman: 12:51am On Nov 10, 2015
CHANGE..

They said it was Jonathan and his ministers who destroyed Nigeria.

But all the negative indicators are showing under Buari. I doubt !

80 Likes 8 Shares

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by 400billionman: 12:54am On Nov 10, 2015
pus24:
Things will pick up I. The first quarter

Ok
Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by jlinkd78(m): 1:18am On Nov 10, 2015
super cluelessness

35 Likes 2 Shares

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by Trut(m): 3:38am On Nov 10, 2015
Cow economic direction

31 Likes 1 Share

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by mira4u: 3:41am On Nov 10, 2015
undecided I thought they were all shouting 'we want CHANGE'. Oya now, see the change. Nigerians always attaching sentiment to politics, instead of truth, fairness and transparency. Smh

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Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by naijaking1: 3:49am On Nov 10, 2015
Those st.u..pid companies are wailing wailers who are jealous of PMB success at the elections, his beautiful under-aged wife, his body language, his gap-toothed smile, and his fight against corruption. You know they say when you fight corruption, corruption fights back.
These companies must be Igbos or something

61 Likes 11 Shares

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by chinchum: 4:00am On Nov 10, 2015
Are they suffering declining profits because Buhari became president 5 months ago?

OP, why art thou choosen to be so foolish and ridiculous ?

Declining oil prices and free fall of naira in exchange rate in 2014 affected all those compan1es. Your hero GEJ left a usd for 232 naira at the end of may 2015 in the parallel market.
Virtually all the results you posted were not even under the Buhari regime.

89 Likes 9 Shares

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by naijaking1: 4:02am On Nov 10, 2015
chinchum:
Are they suffering declining profits because Buhari became president 5 months ago?

OP, why art thou choosen to be so foolish and ridiculous ?

Declining oil prices and free fall of nigeria in exchange in 2014 affected all those compan1es. Your hero GEJ left a usd for 232 naira at the end of may 2015 in the parallel market.
Virtually all the results you postd were not even under the Buhari regime.


See, I told them so.
One naira must be equal to One dollar TODAY!

51 Likes 6 Shares

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by Adminisher: 4:13am On Nov 10, 2015
mazzi:
Chai,but we warned them about bubu but they didn't heed to our advice

What did you expect with fake statistics that the last government was churning out?.

In any case a lot of it is global recession related and some are changing culture in Nigeria. Look at the list properly. Breweries are going out of business the world over in Nigeeia even more as they are going in the opposite direction to Churches which are growing by the day. Lafarge is crashing because Dangote is climbing.FMCG sector however is booming because operators know their market.

Buhari economics will start in January. What Nigeria is doing now is managing the disaster of Jonathan economics when the high oil price that was COVERING it up crashed.

Buhari will reflate by constructing roads, dams, bridges, sewage and drainage systems just to create employment for young people. This will increase inflation till 2017 and will drop the naira even more but people will be gainfully employed and we will have infrastructure and growth. After 2017 the boost in local demand by many young people working will pull in foreign investments and the economy will start booming. Nigeria should keep up the anti corruption war, collect it's taxes, endure short term inflatiom and try to keep young people employed...this young people employment is very important and Breweries and all the businesses you have mentioned will not do the trick. Massive public works is the answer.
Then we can grow sustainably like China instead of stupidly like Brazil.

79 Likes 6 Shares

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by Qualer: 4:24am On Nov 10, 2015
chinchum:
Are they suffering declining profits because Buhari became president 5 months ago?

OP, why art thou choosen to be so foolish and ridiculous ?

Declining oil prices and free fall of nigeria in exchange in 2014 affected all those compan1es. Your hero GEJ left a usd for 232 naira at the end of may 2015 in the parallel market.
Virtually all the results you postd were not even under the Buhari regime.


This one is still blind and gullible to the media twist and spin of the present government amidst lack of governance and direction. My guy, no worry ehn, the day hunger go knack you akpako, please blow all this nonsense grammar so that food will appear in your tummy and money in your bank account under the 'buhari regime' of no kwarupshon, you hear!! you plus the misguided analyst above me^ grin

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Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by chinchum: 4:29am On Nov 10, 2015
Qualer:


This one is still blind and gullible to the media twist and spin of the present government amidst lack of governance and direction. My guy, no worry ehn, the day hunger go knack you akpako, please blow all this nonsense grammar so that food will appear in your tummy and money in your bank account under the 'buhari regime' of no kwarupshon, you hear!! grin
What media twist? Are you incapable of thinking for yourself ? if yes, i cant help you. The op is mischievious, if he enrols gullible mofos like you in to his mugun train, who am i to help you.

52 Likes 5 Shares

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by Bollove: 4:32am On Nov 10, 2015
all these ikengawo and barcanista of this nairaland are bunch of ignorant mofos , uncivilised, uncut and unrefined.

MNCs has always been making abnormal profits in Nigeria .... MNCs rendered services that is not citizen oriented, more powerful than regulatory agency and do not give a hoot about Nigeria other than profit, profit and profit.

All MNCs in the Oil sector operating in NigerDelta, if they should be made to clean up ogoni land and many other communities affected by oil spillage which is normal global standard operating procedure, do you think their profit would be as high as being quoted.

what these MNCs did in Nigeria and are doing , they dear not try it in any advanced nations......... They are here just to make money simple while contributing little to sustainability.

imagine the lackadaisical attitude of MTN to the government policy on simcards .......... Useless mtn think it is business as usual .... Am on MTN network but when a company disregard our policy on our own soil, then she should face the music or ship-out.

oil companies on clean up and many other non citizen oriented services rendered by others.

The era of lack of political and intellectual will to deal with these MNCs is over, the era of Jonathan, Yar'adua and obasanjo is over .....

New Sheriff is in town, only MNCs which care about Nigeria and Nigerians should stay behind to make legitimate money, only investors who wants to make legitimate ROI should stay behind ...... for those ones who have come in through backdoors, bribery and corruption through their unpatriotic accomplice in government, they are free to leave.

Majority of MNCs and other FDIs came into Nigeria through corruption because Nigeria is one hell of a country with abnormal and illegitimate return on investment, Now they are taking away their money cuz Government is imposing citizen oriented service which shall rub them off their ill gotten wealth.

let them all go, they will come back when they are ready for legitimate deals and they should allow genuine investors to take over our huge market.

64 Likes 8 Shares

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by Pavarottii(m): 4:50am On Nov 10, 2015
chinchum:
Are they suffering declining profits because Buhari became president 5 months ago?

OP, why art thou choosen to be so foolish and ridiculous ?

Declining oil prices and free fall of nigeria in exchange in 2014 affected all those compan1es. Your hero GEJ left a usd for 232 naira at the end of may 2015 in the parallel market.
Virtually all the results you postd were not even under the Buhari regime.

#ZombieAlert

17 Likes

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by gists: 4:53am On Nov 10, 2015
Adminisher:


What did you expect with fake statistics that the last government was churning out?.

In any case a lot of it is global recession related and some are changing culture in Nigeria. Look at the list properly. Breweries are going out of business the world over in Nigeeia even more as they are going in the opposite direction to Churches which are growing by the day. Lafarge is crashing because Dangote is climbing.FMCG sector however is booming because operators know their market.

Buhari economics will start in January. What Nigeria is doing now is managing the disaster of Jonathan economics when the high oil price that was COVERING it up crashed.

Buhari will reflate by constructing roads, dams, bridges, sewage and drainage systems just to create employment for young people. This will increase inflation till 2017 and will drop the naira even more but people will be gainfully employed and we will have infrastructure and growth. After 2017 the boost in local demand by many young people working will pull in foreign investments and the economy will start booming. Nigeria should keep up the anti corruption war, collect it's taxes, endure short term inflatiom and try to keep young people employed...this young people employment is very important and Breweries and all the businesses you have mentioned will not do the trick. Massive public works is the answer.
Then we can grow sustainably like China instead of stupidly like Brazil.
Don't mind the OP. When the last administration was busy pooing everywhere they didn't realise it will smell when its time to clean. It is fo0lishness to expect a seed to germinate without decaying first. Where was the OP when madam Ngozi slashed the budget of the ministry of works to 11% (from the N100b to N11b). Other ministries also suffered similar fate. He didn't realise it wil have a snowball effect on the economy. Now they are blaming it on the new administration.
With just N11 billion approved by Nigeria’s Federal Ministry of Finance as the 2015 budget proposal the Federal Ministry of Works, Nigerians must not expect the Federal Government to embark on major infrastructures in the year 2015 if the budget is so passed.

The Ministry of Works had made a proposal of N100 billion as its budget for the year, but this was brought down to N11 billion or 19 percent by the Finance Ministry headed by Dr. Ngozi Okonjo-Iweala, the Coordinating Minister of the Economy.

With this, only 33 road projects have provisions in the proposal out of a total number of 210 ongoing road projects.
http://thenewsnigeria.com.ng/2015/03/2015-budget-why-federal-ministry-of-works-will-perform-poorly/

FG Cuts 2015 Capital Budget By Half, Says DG Budget
http://economicconfidential.com/fg-cuts-2015-capital-budget-by-half-says-dg-budget/

Oil price fall: FG slashes 2015 budget by N581bn
http://www.mynewswatchtimesng.com/oil-price-fall-fg-slashes-2015-budget-n581bn/

EXCLUSIVE-Nigeria slashes 2015 budget as oil price slump bites
http://in.reuters.com/article/2015/02/04/nigeria-budget-idINL6N0VD4UB20150204

Budget: FG slashes projected oil revenue by N1tn
http://businessnews.com.ng/2014/12/25/budget-fg-slashes-projected-oil-revenue-n1tn/

The document, seen by Reuters, puts capital expenditure at N387 billion or 8.9 per cent of total spending of N4.357 trillion.
This is a significant drop from the 2014 spending plans, when capital expenditure (capex) accounted for 23.7 per cent of projected government outlays.

http://www.thisdaylive.com/articles/again-fg-cuts-2015-capital-spending-as-oil-price-slump-bites/201045/

40 Likes 5 Shares

Re: List Of Multinationals In Nigeria That Are Crashing Under Buhari - By Ikengawo by Nobody: 5:37am On Nov 10, 2015
I don't encourage public beating of stupid people. But this guy above me should be used as an example to put other stupid people in line

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