Foreign Affairs › Re: Biden Draws ‘red Line’ For Benjamin Netanyahu: No Israeli Attack On Rafah by hansomb: 12:27am On Mar 11, 2024 |
grandstar: John Bugle who founded Vanguard Group I doubt was Jewish and this so called term "determine the fate of America and worse, fund Israel" is a joke.
Vanguard Group is an index Fund. It's founder was a very conservative fellow. In addition, it's very risky for an Index Fund to start playing politics based on the nature of its business.
Also, Israel isn't a poor country that needs funding. It's exports alone are over $166bn and its pipulation is only 9.9m. The US military aid package is barely 1% of their GDP and be won't missed t if stopped. you have no idea, do you. I swear if America should impose the kind of sanctions it impose on Iran, Russia and North Korea on Israel. Israel will collapse absolutely. There's no chance there. |
Foreign Affairs › Re: Biden Draws ‘red Line’ For Benjamin Netanyahu: No Israeli Attack On Rafah by hansomb: 12:25am On Mar 11, 2024 |
buJu234: One major lessons here especially to Muslims and black people, invest in technogical, financial and leadership education for your race.
These are what the Jews did to themselves when they were suffering like the Romas etc in the western in the early 1500s till 1800s.
These made them the power behind over 70% of the western world government including the US.
If Aipac wakes and call biden, this so called red line will become a green line tomorrow, whereby making BB to attack Raffa and nothing will still happen. Every action has it's consequences. The biggest mistake of Hitler was trying to invade Russia. That was a red line he crossed. The biggest supporter and enabler of genocide in Palestine is America. Without America, Israel is nothing. Forget Europe, they only supporting Israel bcus of America. Anti Semitism is in European bloods ever since Jesus was so killed |
Foreign Affairs › Re: Biden Draws ‘red Line’ For Benjamin Netanyahu: No Israeli Attack On Rafah by hansomb: 12:20am On Mar 11, 2024 |
press9jatv: I don hear you here. Isreal has been fighting and winning war before Isreal and USA 🇺🇸 became an allies between each other. Be deceiving yourself here lol. . . How about the allies between Great Britain and Israel then ? And America supplied all the weapons Israel uses during its first war with Jordan, Syria, Egypt. |
Celebrities › Re: Rita Dominic: I Was Paid N10,000 For My First Movie Role by hansomb: 12:17am On Mar 11, 2024 |
If 1 Dollar is #100 then. And she's paid N35000 then. How much is that now considering 1 dollar is now #1,500 and factoring in inflation. That in my spiritual calculation should be around #3.5 million now. Not bad for a first timer. |
Politics › Re: Most Of Tinubu’s Appointments Favour Southwest Region - HURIWA by hansomb: 12:04am On Mar 11, 2024 |
fuckJones: I have a story for you guys👌 in 2011 there was a Ukrainian singer called Povandolakoviscov Kityionshikov. Why did you skip the name, now I'm not going to finish the story no time |
Politics › Re: Most Of Tinubu’s Appointments Favour Southwest Region - HURIWA by hansomb: 12:03am On Mar 11, 2024 |
Fxxk human rights when Palestinian are being massacred daily. Fxxk human rights. Fxxk human rights. |
Foreign Affairs › Re: Biden Draws ‘red Line’ For Benjamin Netanyahu: No Israeli Attack On Rafah by hansomb: 9:10pm On Mar 10, 2024 |
press9jatv: Dey play. Biden and his government can never decide for Isreal government. Hamas striking and kidnapping Israelites hostages will further make Isreal defence force to retaliate back. Isreal no dey waste time ooo what an idiotic statement. You think Israel will still be in existence without the support of America ? |
Foreign Affairs › Re: Biden Draws ‘red Line’ For Benjamin Netanyahu: No Israeli Attack On Rafah by hansomb: 9:08pm On Mar 10, 2024 |
To all Biafrans supporting Israel attrocities, imagine what the Nigeria government did to your Parents seeking for der independence, multiply it by 100 thousand. That's close to the attrocities Israel is doing to innocent babies and women in Palestine. Remember Israel has support of World powers America and Europe. For anyone happy with The genocide going on in Palestine, May same befalls him in his life. Ameen |
Foreign Affairs › Re: Biden Draws ‘red Line’ For Benjamin Netanyahu: No Israeli Attack On Rafah by hansomb: 9:03pm On Mar 10, 2024 |
Abufo: As we post more us aircraftts are ferrying weapons to Isreal! While other aircrafts are sending food and bandages to the palestinians.....reminds me of Britisg devioudness during the Biafran war, The UK willsend tanks to the Nigerians and send then send plasters and phensic to the biafrans..............The deception inherent in the hearts of the European,even satan sef go dey marvel! |
Foreign Affairs › Re: Biden Draws ‘red Line’ For Benjamin Netanyahu: No Israeli Attack On Rafah by hansomb: 9:02pm On Mar 10, 2024 |
When a killer draws a red line for another kkiller, then you should understand how devilish that other kkiller is. Jews are taking retaliation of what Europe did to them on innocent Palestinian babies and women. |
Foreign Affairs › Re: Biden Draws ‘red Line’ For Benjamin Netanyahu: No Israeli Attack On Rafah by hansomb: 8:58pm On Mar 10, 2024 |
When a killer draws a red line for another killer, then you should understand how devilish that other killer is. Jews are taking retaliation of what Europe did to them on innocent Palestinian babies and women. |
Politics › Re: Interior Minister, Tunji-Ojo Receives Ambassador Of Israel To Nigeria by hansomb: 8:51pm On Mar 10, 2024 |
Promise47: Lol well you have said what are you obviously a supporter of terrorism and a werey Good luck Am fasting/Ramadan. Am fasting/Ramadan. May Allah guide you towards the right path. Islam. Ameen summa Ameen. |
Politics › Re: Interior Minister, Tunji-Ojo Receives Ambassador Of Israel To Nigeria by hansomb: 7:46pm On Mar 10, 2024 |
Promise47: It's obvious your support terrorist oh forget you are a Muslim you are potential terrorist all Muslim are potential terrorist u need to visit a physiatrist doctor. It obvious u b wèréy |
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Politics › Re: Interior Minister, Tunji-Ojo Receives Ambassador Of Israel To Nigeria by hansomb: 8:02am On Mar 10, 2024 |
Promise47: Ask Hamas terrorist AKA Pelstaine how dy killed rape torture Isreal citizens and Jews people October 7 if you have the answer you can call me back Good luck thank you It's obvious I have been chatting with a small boy that knows nothing only falling to propaganda |
Phones › Re: Breaking News:Nigerian User Complain Over Redmi Phone, Redmi's Reacts by hansomb: 8:01am On Mar 10, 2024 |
Norman4real: Lol, playing CODM on an entry level 5yr old phone in insane. You could put 20GB worth of RAM and it still wouldn't improve anything. The phone is serving me good. Am one of the best players as far as codm is concerned thanks to Redmi 9 |
Properties › Re: Rising Cost Of Cement: We Can’t Own Houses Again - Nigerians Cry Out by hansomb: 11:56am On Mar 09, 2024 |
Deltafirstson: The damages tinubu government have done to Nigerians in less than one year in office is beyond repair. nothing is beyond repair |
Politics › Re: Interior Minister, Tunji-Ojo Receives Ambassador Of Israel To Nigeria by hansomb: 11:34am On Mar 09, 2024 |
Promise47: May God be praised we can't rot for saying the true thank you. Good luck how's that the truth. Killing of children and women? |
Politics › Re: Interior Minister, Tunji-Ojo Receives Ambassador Of Israel To Nigeria by hansomb: 12:18am On Mar 09, 2024 |
Promise47: I said what I said Hamas aka Pelstaine are terrorist Muslims no going back we stand with Isreal 100% October 7 and perviously can't be forgotten Israel have every right for self defense take it to Allah thank you Good luck May you rot together, insha'Allah. |
Phones › Re: Breaking News:Nigerian User Complain Over Redmi Phone, Redmi's Reacts by hansomb: 8:09pm On Mar 08, 2024 |
heykims: I am having the same experience and it's very annoying. It's very difficult to multitask, the apps will have to reload when u minimise just for a few seconds. I use redmi 10 with 4gb ram. I have same problem especially when playing CODM, Redmi 9 with 4gb ram. Any slight slip from the game, will have to reload. |
Politics › Re: Interior Minister, Tunji-Ojo Receives Ambassador Of Israel To Nigeria by hansomb: 8:04pm On Mar 08, 2024 |
Promise47: Tell Hamas terrorist to give up Pelstaine and terrorist Muslims Hamas has never commend October 7 attack go to Gaza and help them mumu u no get sense at all. U still b small pikin still under mummy and Daddy care. Òdé, wèréy, òlórí pànlá. |
Business › Re: Bodies Of Herbert Wigwe, Wife & Son Arrive Port Harcourt Airport (Photos) by hansomb: 7:01pm On Mar 08, 2024 |
Ogiame: Sometimes, I don't get why we come to this world only so we can die again.
But na God get that answer to give. We're here for to serve and worship God. In in course of doing that we will be tested. |
Politics › Re: Tinubu Offers Fresh Appointment To Ganduje’s Son by hansomb: 6:33am On Mar 08, 2024 |
There's nothing new under the sun |
Politics › Re: Interior Minister, Tunji-Ojo Receives Ambassador Of Israel To Nigeria by hansomb: 6:16am On Mar 08, 2024 |
Tell them to stop the genocide against Palestinian |
Business › Egypt Learns How Not To Float A Currency From Nigeria’s Mistakes by hansomb(op): 7:20pm On Mar 07, 2024 |
Egypt learns how not to float a currency from Nigeria’s mistakes
Lolade Akinmurele
March 7, 2024
Nigeria may have put the cart before the horse with its floatation of the naira, but Egypt has made no such mistake.
It was hardly a surprise when Egypt devalued its currency on Wednesday after over a year of a flawed peg to the dollar that drained liquidity in the foreign exchange market and caused the official and unofficial exchange rates to fly apart.
Devaluation bets had swirled around Egypt for months as analysts grew bolder in their predictions that the Egyptian pound would be devalued for the fourth time in two years.
They were emboldened by the worsening scarcity of dollars in the economy and the lack of investor confidence in the monetary policy regime.
UK-based HSBC bank had in December 2023 projected a devaluation of the Egyptian pound by 40 percent in the first quarter of this year.
That prediction has turned out to be the most accurate after the Central Bank of Egypt (CBE) finally bit the bullet and devalued the currency by 38 percent to 50 EGP per US dollar from 30.8 EGP. The CBE said it will allow the currency trade freely against the dollar from hereon.
While the devaluation was widely expected, it was the action that preceded it that caught many off guard and may prove the difference in whether Cairo’s latest devaluation pays off.
In an unscheduled meeting on the same day the currency was devalued, the CBE hiked interest rates by a record 600 basis points in one fell swoop, its biggest rate hike yet.
Analysts and investors say the central bank was laying the groundwork for a successful currency float by first raising interest rates by a record before devaluing the pound.
This was done in realisation of the fact that devaluing the currency may not be sufficient to lure dollars into the economy if interest rates were not raised to make local debt attractive to foreign investors.
“Egypt learnt how not to float a currency from Nigeria,” a foreign investor who did not want to be named told BusinessDay.
“By first raising market rates before devaluing the pound, Egypt didn’t put the cart before the horse like Nigeria did,” the investor said.
Nigeria has also had to devalue the naira twice in the space of nine months but the gains have been thin.
The first devaluation was in June following the election of President Bola Tinubu who wasted no time in delivering bold reforms that had been stuck for years.
Experts have said the reforms are needed to put Africa’s most populous nation on track but were hurriedly made without considering its ripple effects on the citizens, especially the vulnerable.
The naira devaluation in June which paved the way for a 40 percent decline in the currency should have been preceded by a number of moves that the CBN is belatedly implementing.
Monetary experts have roundly commended the move but are of the view that floating the naira should never have come before the monetary tightening the CBN is now embarking on while measures should have also been put in place to boost dollar supply.
“Before floating naira, which by the way is a good move, the CBN should have started mopping the excess naira liquidity in the market,” a leading Nigerian economist who did not want to be named said.
“Secondly, there should have been plans to attract the required amount of dollars necessary to ensure the CBN can intervene in the market whenever the naira was under undue pressure,” the economist said.
Nigerians are bearing the brunt of the poorly planned reforms despite their long term gains, with inflation peaking at a 19-year high of 29.9%, businesses shutting down and unemployment rising.
The tough times won’t last, however, according to Benedict Oramah, president of the African Export-Import Bank (Afreximbank), reforms were necessary to revamp the country’s economy, stressing that things will soon return to normal.
“Nigeria’s choice to float the Naira and remove petrol subsidy are the right decisions,” said Oramah.
“Once you have been able to stabilise the exchange rate, prices will adjust, markets will adjust, and things will return to normal,” he added.
Time will tell if Egypt did the right thing but first hiking rates before the devaluation. In the meantime, Nigeria is learning the hard way to be more deliberate and coordinated with policy action
© 2023 - Businessday NG. All Rights Reserved. |
Foreign Affairs › Re: Three Sailors Dead After Houthis Strike Ship In Gulf Of Aden, US Says (Photos) by hansomb: 9:00am On Mar 07, 2024 |
The British embassy in the Yemeni capital, Sana’a, posted on X: “At least two innocent sailors have died. This was the sad but inevitable consequence of the Houthis recklessly firing missiles at international shipping. They must stop.” So they still operate an Embassy there. Hypocrite |
Foreign Affairs › Re: Three Sailors Dead After Houthis Strike Ship In Gulf Of Aden, US Says (Photos) by hansomb: 8:59am On Mar 07, 2024 |
FreeStuffsNG: BBC reported that the crew were warned first and advised to turn back by the Yemen naval forces as the Yemen Navy informed them that they will not allow them to proceed since they were headed to Israel, the Captain of the ship did not heed the warning and decided to put the lives of his crew in danger.
Turning back would have saved the lives of the crew, the ship and goods onboard. You're a civilian merchant ship so the lives of your crew , the ship and the goods on board are your priorities, it's not your job to dare an armed Navy! The Captain of that ship was just reckless and irresponsible. If US and UK want to fight Yemen, it's not your own business and he should have turned back after he was hailed to stop and turn back. |
Politics › Re: Abuja Businessman Reacts As Hoodlums Invade, Loot His Warehouse by hansomb: 3:51pm On Mar 06, 2024 |
CharleyBright: Truth is bitter. It can pain so badly when someone expose the hidden truth you don't want told. The Northern Almajiri system is a breeding ground for criminals and Terrorists. If you defend it, you are probably a product of the system and a criminal. We will flush out your criminal gangs out of Abuja. So get the fvck off my face. wèréy mahuakaci onyaarā |
Politics › Re: Abuja Businessman Reacts As Hoodlums Invade, Loot His Warehouse by hansomb: 9:50am On Mar 05, 2024 |
CharleyBright: Ok. That is it. I said severally that these lootings will take a trajectory that we will all witness looting of Govt warehouses, Private warehouses, then public shops and stores and later privates stores and shops. Someday, they will loot our homes too. We should all condemn these acts of criminalities. Yes, people are hungry. But inside the hunger, there are criminals hiding under hunger to steal. Jobless and criminal minded Hausa boys in Abuja are behind all these lootings. They target warehouses to loot not because they want food, but to steal to go and sell. These pack of criminals go about and spearhead these looting and then other passerbys join in the Free fall of stealing. These good for nothing packs of criminals will soon start targeting big malls like ShopRite and Sahad Stores and then smaller private shops. People should hire guards to shoot at sight any attempt to steal their goods. Wike should get rid of jobless Hausa boys from Abuja. These boys are not adding any value to Abuja other than Criminal acts. And the North should ban Almajiri system that is breeding dangerous children for the streets. They should stop breeding criminals for the Nation. don't be an idoit bigot. Everything North na Hausa abi ? òdé. North that has more than 1000 languages, so anyone that speaks Lingua Franca of Hausa is Hausa |
European Football (EPL, UEFA, La Liga) › Re: Sheffield United Vs Arsenal 0 - 6 On 4th March 2024 by hansomb: 9:29pm On Mar 04, 2024 |
verybadmouth: One man's food is another man's poison. Na Over 4.5 I play am say no to gambling |
Crime › Re: Kaduna Residents Block Company Truck, Loot Food Items (Video) by hansomb: 3:01pm On Mar 04, 2024 |
Na small small e dey take start |
Crime › Re: "How Kidnappers Used My 12-year-old Son As Collateral To Buy Two Bags Of Rice – by hansomb: 2:56pm On Mar 04, 2024 |
Nigeria are good in inventing fraud |