₦airaland Forum

The boards of Fiat Chrysler Automobiles and PSA Peugeot on Wednesday signed a binding merger deal creating the world’s fourth-largest automaker with the scale to confront the challenges of stricter emissions regulations and the transition to new driving technologies.

The companies said in a joint statement the new group will be led by PSA’s cost-cutting CEO Carlo Tavares, with Fiat Chrysler’s chairman John Elkann as chairman of the merged company. Fiat Chrysler CEO Mike Manley will stay on, but it was not announced in what capacity.

No name for the new company has been decided, executives said in a conference call, but both Tavares and Manley insisted that it was not a “touchy subject.”

The deal, which was unveiled in October, was announced as a 50-50 merger, but PSA has one extra seat at the board and Tavares at the helm, giving the French carmaker the upper hand in daily management.

The executives said they expect the deal to take 12-15 months to close. It will give birth to a group with revenues of nearly 170 billion euros (nearly $190 billion) and producing 8.7 million cars a year — just behind Toyota, Volkswagen and the Renault-Nissan alliance.

Fiat Chrylser shares rose nearly 2% in Milan, while Peugeot shot up 4.2% in Paris trading.

The merger is expected to create 3.7 billion euros in annual savings, which will be invested in “the new era of sustainable mobility″ and to meet strict new emissions regulations, particularly in Europe.

″The merged entity will maneuver with speed and efficiency in an automotive industry undergoing rapid and fundamental changes,″ the companies said in their statement.

New technologies includes electrified engines, autonomous driving and connectivity, part of what Tavares described as ’’the transition to a world of clean, safe and sustainable mobility.″

No plants will be closed under the deal, the companies said. Savings will be achieved by sharing investments in vehicle platforms, engines and new technology, while leveraging scale on purchasing.

But the executives also said there would be cuts. Decisions on where those will come will be made after the deal closes.

“There is room for sharing (a) significant amount of existing platforms and avoiding excess investments for the future,” Tavares said.

Both the Peugeot and Fiat brands are strong on small-car technology, with significant overlap in Europe. Manley said that the convergence of platforms would be “an early target″ that will likely take two years to achieve.

The company will be legally based in the Netherlands, and traded in Paris, Milan and New York.

The executives played down the significance of the new entity’s name and headquarters location, but both are symbolic choices that go a long way to signalling who is in the driver’s seat, where engineering and management brains will be based, and the relative importance of each entity in the new company.

The French and Italian governments as well as unions will be on the look-out for the responses, given the national significance of car-making to both economies. The French government helped bail out PSA Peugeot in 2014 and owns a 12% stake in the French company through the state investment bank.

While the merger of Fiat and Chrysler has been a success, with the Italian-American automaker thriving on the strength of the U.S. market and the executive prowess of longtime CEO Sergio Marchionne, the history of car mergers is littered with failed tie-ups. Most famous among those is the short-lived Daimler-Chrysler merger, which foundered on cultural differences between the German and U.S. entities.

Manley said the new name ’’is an exercise we’re embarking on now. We have two very historied companies coming together. … I don’t think it will be a touchy subject, just an interesting process.″

Tavares will be the company’s first CEO for five years, but there was no word on succession. Manley, who took over as CEO of Fiat Chrysler just before Marchionne’s death in July 2018, will work alongside him, Elkann said in an email to employees.

The new company will start with a strong base in Europe, where PSA is the second-largest carmaker, while Fiat makes most of its profits in North America and has a strong presence in Latin America. It will be looking to strengthen its position in China, where both PSA and FCA lag.

“That is part of the opportunities,″ Tavares said. ’’We are not happy with our performance there. We think we should be doing better in China.″

Tavares said the deal has the support of its Chinese partner and investor Dongfeng, which “understood what needed to be done.″

As part of the deal, Dongfeng’s stake in the new company will be diluted from 6.2% to 4.5%, through the sale of 30.7 million shares.

Fiat Chrysler will pay its shareholders a 5.5 billion-euro ($6.1 billion) premium, raising questions about whether the new company will be saddled with too much debt. Analysts estimate that Peugeot is paying a hefty 32% premium to take control of Fiat Chrysler.

Fiat Chrysler has long been looking for an industrial partner to shoulder investment costs as the industry faces a transition to electrified power trains and autonomous driving. A previous deal with French rival Renault last spring fell apart over French government concerns about the role of Renault’s Japanese partner, Nissan.

Tavares said both the French government and unions backed the new deal from the beginning.

French Finance Minister Bruno Le Maire issued a written statement calling it “very good news for France, for Europe and for our auto industry. It represents an important step in the creation of a European champion … to face the challenge of sustainable mobility.”

He said the government would monitor closely the location of decision-making centers, and to ensure that the new company preserves French jobs and confirm PSA’s commitment to creating a European battery industry.

Italy’s economy and finance minister, Roberto Gualtieri, likewise welcomed the deal, saying it ’’was a fundamental step in the consolidation of the car industry.″

-AP
http://www.mediaissuesng.com/business-news/fiat-chrysler-and-peugeot-sign-deal-for-50-50-merger/

The U.S. House of Representatives is set to take a momentous and deeply polarizing vote on Wednesday when it is likely to impeach President Donald Trump on charges of abusing his office and obstructing a congressional probe.

The vote in the Democratic-controlled House is expected to fall almost entirely along party lines, underscoring the deep divide in Congress over Trump’s conduct – and the larger political schism within the nation itself.

Trump would become only the third U.S. president to be impeached, an extraordinary check on presidential power spelled out in the U.S. Constitution for executives who commit “high crimes and misdemeanors.” No president has ever been removed from office under its terms.

The vote, expected in the afternoon or early evening, would result in a trial next month in the U.S. Senate in which House members would act as prosecutors. That chamber is controlled by Republicans, who have shown little interest in removing Trump from office.

House Democrats accuse Trump of abusing his power by asking Ukraine to investigate Joe Biden, a former U.S. vice president and a leading Democratic contender in the 2020 election. Trump is also accused of obstructing the congressional investigation into the matter.

Trump has insisted he has done nothing wrong, and on Tuesday called the process “a total sham.” He sent House Speaker Nancy Pelosi a lengthy letter in which he accused her of engaging in a “perversion of justice.”

The president has denounced the probe as an “attempted coup” and has argued Democrats are trying to undo the results of the 2016 election that saw him defeat Democrat Hillary Clinton.

With Trump seeking a second term next year, impeachment has cleaved the public, with most Democratic voters supporting it and most Republicans opposed.

What remains unclear is whether the months-long partisan drama will have any effect on the 2020 election beyond giving Trump reasons to boast of having beaten back Democratic efforts to remove him.

Republicans contend that a “yea” vote on impeachment could cost some moderate House Democrats their seats in next year’s congressional elections. Still, several Democrats who represent districts that backed Trump in 2016 have said in recent days they will vote to impeach him.

‘PRESIDENT ABUSED HIS POWER’

On the eve of the vote, Pelosi sent a letter on Tuesday to all 232 Democratic members of the House, urging them to abide by the Constitution’s standards.

“Very sadly, the facts have made clear that the President abused his power for his own personal, political benefit and that he obstructed Congress as he demanded that he is above accountability, above the Constitution and above the American people,” she wrote.

Fearful of the political blowback, Democrats were long resistant to an impeachment inquiry even after Special Counsel Robert Mueller outlined potential episodes of Trump obstructing justice in his report on Russian interference in the 2016 election.

But after a whistleblower brought to light a July phone call in which Trump pressed Ukrainian President Volodymyr Zelenskiy to investigate Biden, House Democrats moved swiftly to take testimony from current and former administration officials.

Democrats accuse Trump of freezing nearly $400 million in U.S. security aid to Ukraine and offering a possible White House meeting to Zelenskiy to get him to publicly announce investigations of Biden and his son Hunter, who was on the board of a Ukrainian gas company.

The first article of impeachment details the Democrats’ account of Trump’s dealings with Ukraine. The second article accuses Trump of obstruction of Congress by directing administration officials and agencies not to comply with lawful House subpoenas for testimony and documents related to impeachment.

The Senate has yet to set its procedures for a trial on the charges, which would be overseen by U.S. Chief Justice John Roberts.

The chamber’s top Republican, Majority Leader Mitch McConnell, has rejected Democratic proposals to call further administration officials to testify and has said there is “no chance” Trump will be removed from office.

On Tuesday, McConnell said on the Senate floor that it would be senators’ role to act as a “judge and jury” in the trial, but he later told reporters that he would not be “an impartial juror.”

“This is a political process. There is not anything judicial about it,” he said. “Impeachment is a political decision.”

Removing Trump from office would require a two-thirds majority of those present and voting in the 100-member chamber, meaning Democrats would have to persuade at least 20 Republicans to join with them to end Trump’s presidency.

-Reuters

http://www.mediaissuesng.com/news/united-states-house-of-representatives-vote-to-impeach-trump/

Pope Francis abolished the use of the Vatican’s highest level of secrecy in clergy sexual abuse cases Tuesday, responding to mounting criticism that the rule of “pontifical secrecy” has been used to protect pedophiles, silence victims and prevent police from investigating crimes.

“The carnival of obscurity is over,” declared Juan Carlos Cruz, a prominent Chilean survivor of clergy abuse and advocate for victims.

In a new law, Francis decreed that information in abuse cases must be protected by church leaders to ensure its “security, integrity and confidentiality.” But he said the rule of “pontifical secrecy” no longer applies to abuse-related accusations, trials and decisions under the Catholic Church’s canon law.

The Vatican’s leading sex crimes investigator, Archbishop Charles Scicluna, said the reform was an “epochal decision” that will facilitate coordination with civil law enforcement and open up lines of communication with victims.

While documentation from the church’s in-house legal proceedings will still not become public, Scicluna said, the reform now removes any excuse to not cooperate with legitimate legal requests from prosecutors, police or other civil authorities.

Francis also raised from 14 to 18 the cutoff age below which the Vatican considers pornographic images to be child pornography. The reform is a response to the Vatican’s increasing awareness of the prolific spread of online child porn that has frequently implicated even high-ranking churchmen.

The new laws were issued Tuesday, Francis’ 83rd birthday, as he struggles to respond to the global explosion of the abuse scandal, his own missteps and demands for greater transparency and accountability from victims, law enforcement and ordinary Catholics alike.

The new norms are the latest amendment to the Catholic Church’s in-house canon law — a parallel legal code that metes out ecclesial justice for crimes against the faith — in this case relating to the sexual abuse of minors or vulnerable people by priests, bishops or cardinals. In this legal system, the worst punishment a priest can incur is being defrocked, or dismissed from the clerical state.

When he was a cardinal, Pope Benedict XVI had persuaded St. John Paul II to decree in 2001 that these cases must be handled by the Vatican’s Congregation for the Doctrine of the Faith and be dealt with under the “pontifical secret” rule. The Vatican had long insisted that such confidentiality was necessary to protect the privacy of the victim, the reputation of the accused and the integrity of the canonical process.

However, such secrecy also served to keep the scandal hidden, prevent law enforcement from accessing documents and silence victims, many of whom often believed that the “pontifical secret” rule prevented them from going to the police to report their priestly abusers.

While the Vatican has long tried to insist this was not the case, it also never mandated that bishops and religious superiors report sex crimes to police, and in the past it has also encouraged bishops not to do so.

According to the new instruction, which was signed by the Vatican secretary of state but authorized by the pope, the Vatican still doesn’t mandate reporting the crimes to police, saying religious superiors are obliged to do so where civil reporting laws require it.

But it goes further than the Vatican has gone before, saying: “Office confidentiality shall not prevent the fulfillment of the obligations laid down in all places by civil laws, including any reporting obligations, and the execution of enforceable requests of civil judicial authorities.”

The Vatican has been under increasing pressure to cooperate more with law enforcement, and its failure to do so has resulted in unprecedented raids in recent years on diocesan chanceries by police from Belgium to Texas and Chile.

But even under the threat of subpoenas and raids, bishops have sometimes felt compelled to withhold canonical proceedings given the “pontifical secret” rule, unless given permission to hand documents over by the Vatican. The new law makes that explicit permission no longer required.

“The freedom of information to statutory authorities and to victims is something that is being facilitated by this new law,” Scicluna told Vatican media.

Robert Hoatson, a survivor and founder of the clergy abuse advocacy group Road to Recovery, said the change was long overdue and a “hopeful sign that the church will finally hold itself accountable for the centuries-old scandal.”

The Vatican in May issued another law explicitly saying victims cannot be silenced and have a right to learn the outcome of their canonical trials. The new document repeats that and expands the point by saying not only the victim, but any witnesses or the person who lodged the accusation cannot be compelled to silence.

“Excellent news,” tweeted prominent Irish survivor Marie Collins, a founding member of Francis’ sex abuse advisory commission who noted that the reform was one of the first proposals of the commission.

“At last a real and positive change,” she wrote.

Lawyers for victims and accused priests have also advocated for a change to the pontifical secret rule, since it restricted their access to documentation from the case. Scicluna said the reform now facilitates making documents available to “interested parties” in a penal case, although it is not clear if these lawyers will still only be able to view the documents — as is currently the case — or can now make and keep copies of them, under the understanding that they remain confidential.

In recent years, individual abuse scandals, national inquiries, grand jury investigations, U.N. denunciations and increasingly costly civil litigation have devastated the Catholic hierarchy’s credibility across the globe, and Francis’ own failures and missteps in dealing with particular cases have emboldened his critics.

In February, he summoned the presidents of bishops’ conferences from around the globe to a four-day summit on preventing abuse, where several speakers called for a reform of the pontifical secrecy rule. Francis himself said he intended to raise the age for which pornography was considered child porn.

The move is significant and an indication that Francis has learned a lesson after one of his Argentine proteges, Bishop Gustavo Zanchetta, was accused of inappropriate conduct with seminarians after gay porn — said to involve youngsters but not boys — was found on his cellphone.

“To date, the church has been especially lenient towards priests who offend against older children” with pornography, said Anne Barrett Doyle of the online resource BishopAccountability. “Extending the pornography ban sends a message that this vulnerable group of minors must be protected too.”

The Vatican’s editorial director, Andrea Tornielli, said the new law is a “historical” follow-up to the February summit and a sign of openness and transparency.

“The breadth of Pope Francis’ decision is evident: The well-being of children and young people must always come before any protection of a secret, even the ‘’pontifical secret,’” he said in a statement.

Also Tuesday, Francis accepted the resignation of the Vatican’s ambassador to France, Archbishop Luigi Ventura, who is accused of making unwanted sexual advances to young men.

Ventura turned 75 last week, the mandatory retirement age for bishops, but the fact that his resignation was announced on the same day as Francis’ abuse reforms didn’t seem to be a coincidence.

-VATICAN CITY (AP)
http://www.mediaissuesng.com/news/catholic-church-removes-shroud-of-secrecy-from-clergy-sex-abuse-cases/

South Africa must move quickly to implement the reforms needed to salvage its status as an investment destination and breathe life into the struggling economy, a senior banker said.

“SA is rapidly becoming a forgotten country and has stopped being talked about as an investment destination,” James Formby, the chief executive officer of FirstRand Ltd.’s Rand Merchant Bank, wrote in Johannesburg-based newspaper Business Day. “It’s no longer five to midnight, it is midnight. We cannot afford to wait any longer to turn things around.”

Implementing greater fiscal discipline, dealing with corruption, providing a stable supply of electricity and easing labor laws are among the major challenges South Africa must address, he said. While the government battles to find consensus on the best way forward with these because of ideological differences and factions within the ruling party, there are some quick wins that can be capitalized on.

A good place to start accelerating change is at the nation’s state-owned power utility Eskom Holdings SOC Ltd., Formby said. The debt-ridden firm is struggling to the keep lights on and has been labeled by Goldman Sachs Group Inc. as the nation’s greatest threat.

“While I appreciate the enormity of the challenge to fix Eskom, a new CEO has been announced and the best thing he can do is share his plan and implement it without fear of political interference,” Formby said. An effective plan to restructure Eskom’s balance sheet and stabilize the grid by dealing with operational issues should be done without delay, he said.

While South Africa’s cash-strapped national carrier South African Airways was correctly placed in business rescue recently, “if more action is not taken and fiscal discipline is not instilled across the state, SA risks permanent damage to the economy.”

Gross domestic product in Africa’s most-industrialized economy contracted for the second time this year in the third quarter. A downgrade by Moody’s Investors Service, the only major ratings company that still assesses South Africa’s debt at investment grade, is almost inevitable.

“Further downgrades mean the cost of borrowing rises, not just for the government but also for banks and every ordinary business and individual,” Formby said. “The transmission of higher borrowing costs will retard economic growth.”

Getting the private sector involved in important infrastructure projects means “policy makers don’t need to think too hard” about solutions but can rely on partnerships with businesses to progress its development agenda and absorb some of the risks of funding and delivery, the CEO said.

“Doing some things now that send the right message is far more valuable than promises or endless debates and further years of contemplation while the country slides to an economic also-ran,” he said.

Bloomberg

http://www.mediaissuesng.com/business-news/investments-at-risk-over-south-africas-weak-economy/

Ghana’s inflation rate rose to the highest level in four months in November as the cedi continued to weaken.

Annual inflation quickened to 8.2% in from 7.7% in October, Government Statistician Samuel Kobina Annim told reporters in the capital, Accra, on Wednesday. The median estimate of three economists in a survey was 7.6%. Prices rose 0.7% in the month.

This is the first time since the statistics office started using a new base year for the consumer-price index from August that inflation is above the midpoint of the central bank’s target band of 6% to 10%. The agency hasn’t provided revised price-growth data for the months before August, complicating the calculation of longer term trends.

The central bank said in November it sees inflation staying inside its target range, barring any unforeseen shocks. The cedi extended losses after the central bank held its key rate at 16% last month, taking its fall against the dollar to 13.7% for the year. That is adding to price pressures.

Bloomberg

http://www.mediaissuesng.com/business-news/inflation-ravages-ghanas-economy/

That viral video of the leaders of Canada, France and the U.K. laughing about their U.S. counterpart at last week’s NATO summit was vivid yet anecdotal evidence of what the rest of the world thinks of President Donald Trump. Now comes some hard data showing America’s declining global reputation.

Not only is the perception of the U.S. as a top ally fading, according to a new survey of 18 countries from the Pew Research Center, but more people see the U.S. as “posing the greatest threat” to them in the future. Even America’s closest neighbors are losing faith in their U.S. alliance.

In Canada, the percentage of those who see the U.S. as its top ally has fallen from 54% in 2007 to 46% in 2019; over the same period, the percentage of those who see the U.S. as the top threat has risen from 16% to 20%. (Keep in mind that the 2007 reading, near the end of George W. Bush’s calamitous presidency, already represented one of the lowest rates of global confidence and approval.) In Mexico, the percentage of those who see the U.S. as Mexico’s top ally fell from 35% to 27%; the percentage who see the U.S. as the top threat has risen from 35% to a poll-topping 56%.

The results also suggest that the U.S. is losing ground in perhaps its most important diplomatic challenge: the contest for influence and power with a rising China.

The Trump administration has paid lip service to the idea of growing great power competition, and to the need to offer an alternative to China in Africa and Latin America. Yet as the survey notes, “Across many of the Latin American as well as Middle East and North African countries surveyed, more name the U.S. as a top threat than say the same of China.” Equally disturbing is that in Nigeria, Kenya and South Africa — democracies that are also sub-Saharan Africa’s three biggest economies — the share of respondents who regard China as their country’s most reliable ally is about as high as those who choose the U.S. In emerging markets more broadly, “China’s economic influence is seen in similar or even slightly more positive terms” than that of the U.S.

It’s possible, of course, to justify these findings by saying it’s better to be feared than loved. You might even argue that the growing U.S. isolation in the United Nations is a sign of America’s commitment to its principles. (In 2018, the U.S. voted against a higher proportion of General Assembly resolutions than any other nation; its global average voting coincidence was 31%, below the 10-year average of 36%.)

Bloomberg

http://www.mediaissuesng.com/politics/whats-worse-than-world-leaders-laughing-at-the-u-s/

Russia has been handed a four-year ban from all major sporting events by the World Anti-Doping Agency (Wada).

It means the Russia flag and anthem will not be allowed at events such as the Tokyo 2020 Olympics and Paralympics and football's 2022 World Cup in Qatar.

But athletes who can prove they are untainted by the doping scandal will be able to compete under a neutral flag.

"It is obvious that significant doping problems still exist in Russia, I mean our sporting community," he said. "This is impossible to deny.
"But on the other hand the fact that all these decisions are repeated, often affecting athletes who have already been punished in one way or another, not to mention some other points - of course this makes one think that this is part of anti-Russian hysteria which has become chronic."

Wada's executive committee made the unanimous decision to impose the ban on Russia in a meeting in Lausanne, Switzerland, on Monday.
It comes after Russia's Anti Doping Agency (Rusada) was declared non-compliant for manipulating laboratory data handed over to investigators in January 2019.

It had to hand over data to Wada as a condition of its controversial reinstatement in 2018 after a three-year suspension for its vast state-sponsored doping scandal.

Wada says Rusada has 21 days to appeal against the ban. If it does so, the appeal will be referred to the Court of Arbitration for Sport (Cas).
Wada president Sir Craig Reedie said the decision showed its "determination to act resolutely in the face of the Russian doping crisis".
He added: "For too long, Russian doping has detracted from clean sport. The blatant breach by the Russian authorities of Rusada's reinstatement conditions demanded a robust response.

"That is exactly what has been delivered.
"Russia was afforded every opportunity to get its house in order and re-join the global anti-doping community for the good of its athletes and of the integrity of sport, but it chose instead to continue in its stance of deception and denial."
But Wada vice-president Linda Helleland said the ban was "not enough".

"I wanted sanctions that can not be watered down," she said. "We owe it to the clean athletes to implement the sanctions as strongly as possible."
A total of 168 Russian athletes competed under a neutral flag at the 2018 Winter Olympics in Pyeongchang after the country was banned following the 2014 Games, which it hosted in Sochi. Russian athletes won 33 medals in Sochi, 13 of which were gold.

Russia has been banned from competing as a nation in athletics since 2015.
Despite the ban, Russia will be able to compete at Euro 2020 - in which St Petersburg will be a host city - as European football's governing body Uefa is not defined as a 'major event organisation' with regards to rulings on anti-doping breaches.

Fifa said it had "taken note" of Wada's decision, adding: "Fifa is in contact with Wada to clarify the extent of the decision in regards to football."
In a statement, the International Paralympic Committee (IPC) said: "Those responsible for the manipulation of data from the Moscow laboratory before it was transferred to Wada appear to have done everything possible to undermine the principles of fair and clean sport, principles that the rest of the sporting world support and adhere to.

"This sincere lack of respect towards the rest of the global sporting movement is not welcome and has zero place in the world of sport. It is only right that those responsible for this data manipulation are punished."
The International Olympic Committee (IOC) said it "supported" Wada's decision.

How did we get here?
Rusada was initially declared non-compliant in November 2015 after a Wada-commissioned report by sports lawyer Professor Richard McLaren alleged widespread corruption that amounted to state-sponsored doping in Russian track and field athletics.

A further report, published in July 2016, declared Russia operated a state-sponsored doping programme for four years across the "vast majority" of summer and winter Olympic sports.

In 2018, Wada reinstated Rusada as compliant after the national agency agreed to release data from its Moscow laboratory from the period between January 2012 and August 2015.
However, positive findings contained in a version courtesy of a whistleblower in 2017 were missing from the January 2019 data, which prompted a new inquiry.

Wada's compliance review committee (CRC) recommended a raft of measures based "in particular" on a forensic review of inconsistencies found in some of that data.
As part of the ban, Russia may not host, or bid for or be granted the right to host any major events for four years, including the 2032 Olympic and Paralympic Games.

What was the reaction?
UK Anti-Doping (Ukad) chief executive, Nicole Sapstead said Wada's decision to impose a ban on Russia was the "only possible outcome" to "reassure athletes and the public and continue the task of seeking justice for those cheated by Russian athletes".
However, Travis Tygart, chief executive of the US Anti-Doping Agency, said not imposing a blanket ban on all participation by Russian athletes - even under a neutral flag - is a "devastating blow" to clean athletes.

"The reaction by all those who value sport should be nothing short of a revolt against this broken system to force reform," he said.
"Wada promised the world back in 2018 that if Russia failed yet again to live up to its agreements, it would use the toughest sanction under the rules. Yet, here we go again; Wada says one thing and does something entirely different.

"There is no disputing that Russia has committed the most intentional, deep and broad level of corruption on the entire sports world that has put money over morals, abuse over health and corruption over the Olympic values and all athletes' dreams.
"Now clean athletes, sports fans and sponsors are having to suffer through another horrendous Groundhog Day of Russian corruption and domination."

-BBC

http://www.mediaissuesng.com/sports/russia-banned-from-football-others-sports-by-world-anti-doping-agency/

Electric air taxis — popularly known as “flying cars”, could draw millions of investor dollars away from ground-based transportation start-up firms in 2020, according to a new study.

The still-young electric air taxi business “has the potential to significantly disrupt the landscape of urban mobility,” but still faces significant roadblocks to commercialization and profitability, according to the 2020 Emerging Technology Outlook from investor website PitchBook.

The research firm predicted that air taxi start-ups such as Joby Aviation, based in Silicon Valley, and Germany’s Lilium Aviation, could draw a record level of venture investment in 2020, despite a lull in funding in 2019.

PitchBook values Joby at $450 million and Lilium at $576 million. To date, Joby has raised more than $128 million from investors, including the corporate venture arms of Intel, JetBlue Airways and Toyota Motor. Lilium has raised more than $100 million, with China’s Tencent Holdings a major investor.

German automaker Daimler and China’s Geely Automobile are investors in a third air taxi startup, Stuttgart-based Volocopter, which has raised nearly $100 million and is valued at $250 million.

Electric air taxis come in several shapes and sizes, and many look quite different from conventional fixed-wing aircraft. Electric motors replace jet engines, and vertical take-off and landing (VTOL) aircraft, designed to avoid the need for long runways, have rotating wings and, in some cases, rotors in place of propellers.

Only a few companies, such as Geely-owned Terrafugia, make vehicles that actually look like cars with wings.

Electric air taxis are likely to fly low-level routes, especially from city to city, thus relieving traffic congestion on roads. But they will potentially add to air traffic congestion as they become more popular.

The PitchBook survey notes that the nascent industry, while posing a long-term threat to ground-based transportation providers, still faces regulatory and technological hurdles that will require more time and serious capital to resolve.

The potential for electric air taxis to lower operating and maintenance costs dramatically is expected to attract millions more in funding to help offset massive cash burn rates and a lack of revenue.

Lilium is said to be seeking $500 million from investors — more than the total invested in the entire sector since 2009, according to PitchBook.

“We need to be in the front row of these opportunities” to invest in electric air taxi start-ups, said Jim Adler, head of Toyota AI Ventures, which provided funding for Joby.

“If flying cars happen, Toyota will be there.”

– Reuters

http://www.mediaissuesng.com/business-news/flying-cars-could-lure-investors-away-from-conventional-ground-cars/

Ride-hailing firm Uber Technologies Inc said it received over 3,000 reports of sexual assault related to its 1.3 billion rides in the United States last year, in a report aimed at ensuring drivers and the public it was serious about safety.

The figure represents a 16% fall in the rate of incidents from the previous year in the five most serious categories of sexual assault reported, Uber said on Thursday in its first biennial U.S. Safety Report here

The firm also said reports of assaults on passengers overlooked risks for drivers as riders accounted for roughly half of the accused.

The 84-page report comes almost two weeks after Uber said it would appeal the loss of its license to carry passengers in London over a “pattern of failures” on safety and security.

Uber, which in the past has faced criticism over safety on its platform and has been repeatedly hit with lawsuits over driver misconduct, last year committed to releasing a safety report in a sign of a cultural turnaround under its new CEO.

The firm, which operates in 70 countries, said the report showed its commitment to transparency to improve accountability and safety industry-wide. It said it would use what it learned producing the report for its “next steps” in other places.

“I suspect many people will be surprised at how rare these incidents are; others will understandably think they’re still too common. Some people will appreciate how much we’ve done on safety; others will say we have more work to do. They will all be right,” tweeted Chief Executive Officer Dara Khosrowshahi.

In the report, Uber said 99.9% of its 2.3 billion U.S. trips in 2017 and 2018 ended without safety incidents.

It said it received 235 reports of “non-consensual sexual penetration” last year and 280 of “attempted non-consensual sexual penetration” – nearly all filed by women. The remaining assault reports included incidents of unwanted kissing or touching of body parts.

It also detailed 10 fatal physical assaults in 2017 and nine in 2018 – eight victims were riders, seven were drivers using Uber’s app, and four were third parties such as bystanders.

At an event on Wednesday, Khosrowshahi said he prioritized improving Uber’s culture and safety when assuming his role in 2017. At the time, Uber was dealing with regulatory fallout and public backlash over its business practices, forcing former CEO and founder Travis Kalanick to step down.

“We had to change the culture internally and we simply got to do the right thing,” Khosrowshahi said, adding that Uber was not hiding anything by publishing internal information.

Rival Lyft Inc in a statement said it was committed to releasing its own safety report and sharing information on unsafe drivers. It did not state a release date for its report.

BACKGROUND CHECKS

Uber said it puts drivers through a vigorous background check before accepting them onto its platform. In its report, it said one million drivers failed to pass the screening test in 2017 and 2018 and more than 40,000 were removed from the app after extra screening layers.

Regulators have long said Uber’s screening process was insufficient and inferior to those in place for taxi drivers, with several U.S. cities attempting to compel Uber to mandate fingerprinting of its drivers.

New York City is currently the only U.S. city where drivers have to provide fingerprints and undergo the same licensing requirements as regular taxi drivers.

The New York City Taxi and Limousine Commission in response to Uber’s safety report on Thursday said there was no substitute for background checks based on fingerprinting.

“They are the best way to prevent against drivers with criminal records,” its Acting Commissioner Bill Heinzen said in a statement.

An Uber spokeswoman on Thursday said the firm’s screening process was robust and rigorous, and was more reliable than the database for fingerprints where she said not all crimes are updated promptly.

Uber’s share price was down 1.57% in after-hours trade at $28.20.

-Reuters

http://www.mediaissuesng.com/business-news/uber-received-over-3000-sexual-assault-reports-in-2018/

Speaker Nancy Pelosi says the House of Representatives will file impeachment charges against US President Donald Trump for alleged abuse of power.

“Our democracy is what is at stake, the president leaves us no choice but to act,” the top elected Democrat said.

She spoke a day after the House Judiciary Committee began considering potential charges against the Republican president.

Mr Trump told Democrats to move quickly if they were going to impeach him.

He tweeted shortly before Mrs Pelosi’s remarks: “If you are going to impeach me, do it now, fast, so we can have a fair trial in the Senate, and so that our country can get back to business.”

The California congresswoman told Thursday morning’s news conference: “The facts are uncontested. The president abused his power for his own political benefit at the expense of our national security, by withholding military aid and a crucial Oval Office meeting in exchange for an announcement for an investigation into his political rival.”

She added: “Sadly, but with confidence and humility, with allegiance to our founders and a heart full of love for America, today I am asking our chairmen to proceed with articles of impeachment.”

Democrats are keen to hold a vote on impeachment in the House of Representatives before the end of the year, with the prospect of a trial in the Senate perhaps as early as January 2020.

She added: “We look forward to a fair trial in the Senate.”

Mrs Pelosi’s statement came a day after she held a behind-closed-doors meeting on impeachment with her fellow Democrats and asked them: “Are you ready?”

The lawmakers responded with a rousing “Yes”.

-BBC
http://www.mediaissuesng.com/politics/trump-impeachment-to-go-ahead-house-speaker-nancy-pelosi/

Nigeria’s banking industry is opening the lending taps to avoid penalties, bowing to central bank demands to unlock credit to help revive the economy.
Banks raised their loan-to-deposit ratio to 64% in the third quarter, one percentage point shy of the minimum target imposed by the central bank, according to Bloomberg calculations using quarterly banking data released by the National Statistics Bureau. The monetary authority gave banks until the end of the year to meet the threshold or hand over half of the shortfall to the central bank without earning interest.
The statistics bureau didn’t provide a breakdown of lending by individual banks.
In October, the central bank slapped 500 billion naira ($1.4 billion) in sanctions on 12 lenders including Citigroup Inc. for failing to meet an original lending target of 60% of deposits. Measures to bolster credit are at the center of President Muhammadu Buhari’s plan to rekindle sluggish growth, though they’ve raised concerns about the future health of the banking industry, even as credit defaults dwindle.
Gross lending rose 7.3% in the third quarter from the previous three-month period, the biggest quarterly jump since early 2017, when the country was emerging from its first annual economic contraction in 25 years.
While deposits have dropped slightly since July, when the central bank unveiled the lending target, non-performing loans fell to the level lowest in four years in the third quarter, the data shows.
-Bloomberg
http://www.mediaissuesng.com/business-news/nigerian-banks-succumb-to-threat-move-closer-to-lending-target/

OPEC and its allies led by Russia on Thursday were moving closer to agreeing one of the deepest output cuts this decade to support crude prices and prevent a glut, sources from OPEC and its allied producers said.

The Organization of the Petroleum Exporting Countries (OPEC) meets on Thursday in Vienna and with Russia and others, a grouping known as OPEC+, on Friday.

Three OPEC sources said on Thursday the group would discuss increasing current cuts of 1.2 million barrels per day by more than 400,000 bpd.

The current cuts expire in March and OPEC+ sources and delegates have said the new deal could be extended either to June or until the end of 2020.

Some sources and OPEC watchers have suggested the overall cut could be closer to 1.8-2.0 million bpd with new cuts and a push for better compliance with targets.

OPEC+ has curbed supply since 2017 to counter booming output from the United States, which has become the world’s biggest producer while also imposing sanctions on Iran and Venezuela to curb their oil exports.

Next year, rising production in the United States and other non-OPEC countries such as Brazil and Norway threaten to add to the glut.

OPEC’s actions in the past have angered U.S. President Donald Trump, who has repeatedly demanded OPEC’s de facto leader Saudi Arabia bring oil prices down if it wants Washington’s to provide Riyadh with military support against arch-rival Iran.

In the past few months Trump has said little about OPEC but that might change later in 2020 if oil and gasoline prices rise – a politically sensitive issue as he seeks re-election in November.

Washington’s ongoing trade dispute with China has also clouded the economic and therefore oil demand outlook for 2020.

Iraq, OPEC’s second largest producer, said on Tuesday OPEC de facto leader Saudi Arabia was supporting cuts of 1.6 million bpd, or 1.6% of global demand.

Saudi Energy Minister Prince Abdulaziz bin Salman said he “feels good” about this week’s meetings but declined to comment on policy matters in Vienna.

Russian Energy Minister Alexander Novak told Prince Abdulaziz on Thursday that Russia-Saudi energy cooperation should continue, his ministry reported.

Oil minister Bijan Zangeneh of Iran, which is exempt from the cuts, said he would support a deeper cut if that was agreed by other producers.

Ministers from Saudi Arabia, Russia, Kuwait, the UAE, Algeria, Oman and Algeria began their pre-OPEC meeting at 11 GMT with the OPEC meeting not expected to start before 1400 GMT.

COMPLIANCE

Saudi Arabia needs higher oil prices to support its budget revenue and the pending initial public offering (IPO) of state-owned oil giant Saudi Aramco with pricing of the IPO expected on Thursday.

OPEC’s actions have supported oil prices at around $50-$75 per barrel over the past year. Brent crude futures on Thursday extended this week’s gains to trade above $63 per barrel. [O/R]

OPEC sources have also said Riyadh was pressing fellow members Iraq and Nigeria to improve their compliance with quotas, which could provide an additional reduction of up to 400,000 bpd.

Non-OPEC Russia has yet to agree to extend or deepen cuts from its current pledge of 228,000 bpd as its companies are arguing they are finding it tough to reduce output during winter months due to very low temperatures.

A source familiar with the Russian thinking told Reuters that Moscow would likely reach a deal with OPEC this week and just needed to iron out a few outstanding issues.

One sticking point for Russia is how its output is measured. Russia includes gas condensate in production figures, while other producers do not. Zangeneh said on Thursday that Russia’s stance on the matter was logical.

Source: Reuters

http://www.mediaissuesng.com/oil-gas-power/opec-and-allies-prepare-to-deepen-oil-output-cuts/

“Right now,” said Steven Wright, “I’m having amnesia and deja vu at the same time. I think I’ve forgotten this before.” And while it’s true that youngsters do forget names, math facts, and when Dad said to be home, many folks 50 and older notice that their recall (what year did we go to California?) isn’t what it used to be.

When you have such a senior moment, it’s just a stutter in what’s called episodic memory, and rarely is it long-lasting. But if you’re concerned about your recall, talk to your doc about stress, sleep problems, depression, thyroid disease, diabetes, vitamin B-12 deficiency, excess alcohol use, infections, and your medications. They’re all possible memory-busters. And try our unforgettable, brain-boosting tips!

Walk fast for at least 30 minutes daily, heading for 10,000 steps a day. Any exercise, but especially aerobics that make you sweat, is the very best memory enhancer.
Cut body-wide inflammation with omega-3 DHA from salmon or ocean trout; and take 900 mg of DHA from algal oil daily. Add in more omega-3s: walnuts, canola, and extra-virgin olive oil.
Try the spice turmeric to reduce triglyceride levels, increase fat burning, and keep blood sugar steady. Dr. Mike carries packets of yellow mustard, full of turmeric, to add to snacks and meals.
Take two baby aspirins daily (if your doc approves) with a half-glass of water before and after.
Get romantic. The neurotransmitter dopamine helps control information flow and memory. Levels decrease with age, but zoom up with sexual activity.
If you’ve hit mid-life, you’ve probably noticed signs of aging — wrinkles, thinning hair, and maybe a few extra pounds around your hips or belly.

And while that creeping middle-aged weight gain may not be desirable . . .There’s one area of your body you should keep as plump and fat as possible — and that’s your brain. You see, your brain shrinks by about 5% per decade after you hit age 40. Maybe that doesn’t sound like much to you, but listen . . Your brain contains about 86 billion nerve cells called neurons.

Each piece of your brain the size of a speck of sand contains 100,000 neurons all trying to talk to each other through 1 billion connecting points called synapses.

This allows over 100,000 chemical reactions to occur in your brain every second. Crucial chemicals called neurotransmitters move across connection points and release their contents into gaps between these synapses.

And all these connections going on inside your brain are what allow you to create and retain memories, form ideas and thoughts, experience emotions, and even express your unique personality.

Why You Want a Fat Brain

Your brain only weighs about 3 pounds. Yet about 60% of your brain is fat. This makes your brain the fattest organ you have. And this fat is essential for your brain to function. For one thing, your brain requires fat for energy. Although your brain makes up only about 2% of your body weight, it uses a whopping 20% of the energy your body produces just to function normally.

Fat is necessary to create brain cell membranes and produce neurotransmitters. Plus, it serves as the raw material to make hormones.

And fat makes up about 60% to 80% of the myelin sheath, a protective covering around nerve axons. These axons represent the primary transmission lines of your nervous system.

As you can see, the fat in your brain serves many vital functions.

Shrinkage Matters to Your Memory — Especially if You’re a Woman

Two areas of your brain especially prone to age-related shrinkage are the hippocampus and the prefrontal cortex. These are important parts of the brain when it comes to memory, learning, and other complex mental activities.

With aging, neurons themselves shrink in number and volume. The connections between nerve cells deteriorate and become less extensive. The level of neurotransmitters declines.

And a shrinking brain is only one of the changes your brain faces as the years pass. With aging, the brain undergoes a gradual reduction in blood flow. Aging speeds up an imbalanced process of inflammation in the brain (as well as the entire body). Free radicals in the brain and body accumulate at a faster rate with age. Free radicals are highly reactive molecules that can damage neurons and other cells throughout the body.

Scientists have found that women suffer more age-related shrinkage in areas of the brain related to memory than men do. And while men are not exempt from those frustrating “senior moments,” their brain shrinkage tends to cause more changes in areas related to thinking and feeling.

So what does all this mean?

Well, by the time you hit mid-life, when it comes to brain health, you’re no longer on the offense.

After 40, You Need to Play a

You may have noticed that you tend to forget where you put things — like your car keys. Or your phone. Or your glasses, even when they’re sitting on top of your head. Or you might forget appointments or names of people you’ve just met.

You might have more difficulty concentrating or focusing on tasks than you used to. Or perhaps you have a foggy brain feeling that keeps you from thinking clearly. You see, aging is the single greatest risk factor for developing memory concerns.

And over 60% of people middle-aged and older suffer some degree of memory impairment. In fact, according to the National Institute on Aging, memory problems are one of the first warning signs of cognitive loss, which involves mental slowing and declining intellect.

Fortunately, while you can’t stop the inevitable march of time . . .You can take some simple steps to combat brain shrinkage and other signs of aging that could impact your memory — and your quality of life.

Dr. Mehmet Oz and Dr. Mike Roizen, Newsmax Health

http://www.mediaissuesng.com/health/5-ways-to-enhance-your-memory/

Dozens of companies have announced they will no longer be advertising on the Spanish version of the TV reality show Big Brother after it emerged that a contestant had been shown footage of her alleged rape.

Carlota Prado was sent to the diary room to watch a video of how a fellow contestant apparently had sex with her when she was unconscious after drinking.

“Please, Super, stop now, please,” a tearful Ms Prado asked. But the tape continued to play, with the Voice saying: “We think you need to see this, Carlota.” The scene was never broadcast but was leaked to the Spanish press this week.

Until being asked to enter the diary room, Ms Prado had no idea of what had happened the previous night in her bed after she had been helped to lie down by José María López, her fellow contestant with whom she had started a relationship with in the house.

According to footage of the alleged rape, she said “no, I can’t” to Mr López. But he then got into bed with the prone Ms Prado and allegedly had sex with her for several minutes before the show’s production team spoke over the bedroom speaker to interrupt him.

After the diary room treatment of Ms Prado was revealed by the digital newspaper El Confidencial, a series of advertisers have pulled their support for Big Brother. This week large companies including Telefónica and Ferrero Rocher joined a list of more than 40 brands that have announced they are severing their connection with the reality show broadcast by the Telecinco station since 2000.

Endemol Shine Group, the company that owns the rights to the Big Brother format, said in a statement the decision to inform Ms Prado of the alleged assault without the presence of a psychologist or any other person present was a mistake:

“With hindsight we regret that the conversation where Carlota was informed took place in the diary room environment,” the company said, adding that Mr López was expelled from the show and that Ms Prado was given psychological support after the diary room experience.

Ms Prado spent several days in a hotel before returning to the show. Representatives of Zeppelin, the Spanish production company that makes Gran Hermano, reported Mr López to the police and Ms Prado later added her own complaint.

An investigative judge recently concluded that there were grounds to put Mr López on trial for alleged sexual abuse, although his lawyer has said his client denies the charge.

The Telegraph
http://www.mediaissuesng.com/entertainment/spanish-big-brother-made-contestant-watch-her-own-rape/

Chevron Nigeria Limited has launched the sale of its stakes in two Nigerian offshore oil and gas blocks, a sale document seen by Reuters shows, as the company seeks to dispose of aging assets to focus on its fast-growing US production.
A Chevron spokesman confirmed the sale process.

According to the document, the US energy giant is offering its 40 per cent stake in the shallow-water Oil Mining Lease (OML) 86 and OML 88, which produce around 6,200 barrels of oil equivalent per day.

The sale is also part of a broader retreat by international oil companies from Nigerian oil and gas fields that have been plagued by pipeline vandalism as well as uncertainty over the country’s tax regime.

Reuters reported that the San Ramon, California-based Chevron has hired Scotiabank to run the sale process.

“Chevron Nigeria Limited, operator of the joint venture between the Nigerian National Petroleum Corporation, confirms that it is offering interested parties the opportunity to acquire its 40% interest in Oil Mining Lease 86 and Oil Mining Lease 88 in Nigeria,” spokesman Ray Fohr said in a statement.

“We continuously evaluate our portfolio of assets in the country,” he added.
However, Scotiabank declined to comment.

http://www.mediaissuesng.com/oil-gas-power/chevron-offers-two-nigerian-offshore-blocks-for-sale/

By Michael Owhoko

Ignorance is what drives the behaviour of the woman. If only she knows her real worth and the premium placed on her by her husband, she would not organise herself into an opposition in a home she is supposed to play excellent and distinguished supportive role through her natural position as help.

For posterity, I am pleased to unveil the real worth of the woman. For me as a man, I see my wife as priceless and immeasurable platinum with whom I am intertwined and inseparable till the fullness of time; and except God, not even the children can undo us.

The woman is an enigma wrapped in a puzzle inside a conundrum. Even the women are oblivious of the mystery behind their personality, thus, out of ignorance, conjure up pitiable image of oppression under the pinafore grip of the man. Rather than take their natural place, some women are up in antagonism, insisting in clearly identifiable rights with freedom of aspirations to high heavens like their men’s counterparts. Unfortunately, this is a creation of the mind.

The woman is a mystery possessing inelastic allure capable of altering equations, permutations and creating imbalance to existing operational template with established structure and protocols. Her presence commands an aura of authority and influence. Her composition and physiology are unique, attracting attention even in the highest profile of gathering with presence of eminent personalities.

Her power and authority are encapsulated in her tender, soft and perceptive nature. Her appearance evokes respect and dignity with a concomitant deep spiritual and extra-sensory organs, equipped to foresee prosperity or dangers ahead, depending on the circumstances. She sees and feels what the man is incapable of knowing, and advising the man as appropriate.

Besides, her intuitive power is legendary; having the capacity for intellectual judgement, and this places her above the man. With her instinctual gift, she is spiritually sensitive and this informs her spiritual commitment to things of celestial activities. Through this power, she is able to separate the good and bad friends of her husband and advise him of those that are potential capital or deficit. This makes her judgement respectable in low and high places.

I recalled when I wanted to acquire a property, I invited my wife to be the witness on the day the agreement was to be signed. The underpinning reason for getting her involved at this stage was to take a deep look at the developer and advise whether we should proceed with the project and advance the initial deposit to him, which was all our life’s savings at the time. Prior to this event, we did not have full details of the developer’s background. Put differently, all I wanted was for her to deploy her intuitive ability to determine the genuineness and worth of the project and credibility of the developer to avoid being duped.

Immediately we emerged from the meeting, and on our way to the car, my wife revealed to me that the developer looked genuine and that she foresees no danger with the deal. Based on her judgement and advice, I called the developer next day and authorised full commencement of work. The project was eventually delivered as scheduled. This is the honour of the woman.

Psychically, the woman is the power house of the home, providing spiritual direction for the family. Her commitment in this area is driven more by protection for the family, specifically for the husband and children than for any other consideration. While the man is physically responsible for the protection of the family, the wife focuses on the spiritual aspect, which is eternal and more precarious.

This explains her emotional disposition for the church and other places of worship where she communes with God for the salvation and protection of the family. The dominance of women at churches and in every programme organised therein is an expression of their spiritual commitment. This way, they stand in gap for the men who are too overwhelmed by mundane things of the world, making them not as spiritually responsive and endowed like the women.

These extra powers of the woman are known to have been deployed to change direction of events. No matter how highly place a man is and in what capacity he functions, when the woman steps in and offers her advice, equilibrium is altered. Proof of this abounds in marital homes, corporate environment and the larger society. From Europe to North America; from Africa to South America; from Australia to Asia and to Antarctica, the woman is a force with enormous influence, so, with these natural gifts, why the fuss?

Even under veiled condition necessitating being unseen, quiet, unheard and unnoticed, she operates with the hallowed candour of dominant calm, and evidently, maintain a stoic presence anywhere in private or public sphere. The woman may have her personal foibles, but these imperfections dissolve into inconsequentiality when matched against her aptitudes and demeanour.

History is replete with great men with rigid moral principles and inelastic temperament occupying top positions in royalty, government, corporation organisations or social cycle that have been brought down from their high horse through the overbearing influence and power of the woman. Put differently, men abound who succumbed to the fury fire of women, losing all they had laboured for.

The dominant power of a woman is manifestly evident in every home. This accounts for why visitors are more at ease whenever the woman is not at home. You may notice that whenever the woman is at home, and friends or relations visit, there is atmospheric presence that enforces order and restrain excesses, just as her absence conjures defiance to home etiquette and evokes flight of order.

With these exclusive privileges conferred on the woman by nature, what else does she want? Why condescending from the height, position and lane God has assigned to them and go into contest with the man on matters of rights, authority, opportunities and influence. The man cannot be like the woman, so too, the woman cannot be like the man, no matter how hard both try. The physiologies of the man and the woman are by divine arrangement diverse, hence are apportioned and endowed differently in line with God’s thoughts.

Therefore, the woman is a gift from nature, and since God is not researchable, nobody can establish why He made the personalities different. So, woman, you are important in your natural role. Take your rightful place and stop expending energies in a turf not in consonance with your physiologies so that you can prosper. Life is not all about positions, but about peace and happiness, which is the ultimate essence of life.

The woman is an immeasurable value to mankind, and the average man knows this, which also informs why she is handled with care. To therefore begin to congregate under the auspices of World Conference on Women to fight for the protection of women is an acknowledgement of ignorance of the worth and role of the woman in natural orchestration.

It is unhelpful to believe that the perceived enemies who are responsible for their oppression are obviously the men, thus must open every channel to correct this imbalance by expending energies pursuing causes and programmes that will engender justice. Unfortunately, the men who these efforts are directed are their partners rather than enemies who also recognise their strategic roles as help without whom, their vision will dissipate into oblivion.

The man knows that the woman is crucial to his success, and so, cherishes her company and presence, and anytime there is opportunity to express and demonstrate this, the man does not hesitate. The number of birthday parties held for the woman is a measurement of the premium places on the woman by the man. Most men do not bother with birthday celebrations, but ensure this is marked for their wives as part of ways to show love for their wives and companions.

It is advised the man should continue to strive for excellence so that his marriage can be preserved. The man can build confidence in the woman through hard work, and once the woman is convinced she is in the right union, it is likely she might not be distracted by unnecessary ambition reinforced by feminism.

The woman is too critical to be ignored in a union, thus it is unnecessary to impose and assert her will aimed at dominating the man. It is an aberration to dominate the husband under the guise of feminism. Woman, you are too important to be in discordant tones with the man.

This was culled from the book entitled, FEMINISM: THE AGONY OF MEN, found at www.owhokobooks.com.

The author, Michael Owhoko , is also the author of The Language of Oil and Gas; Career Frustration in the Workplace; Nigeria on the Precipice: Issues, Options, and Solutions; and The Future of Nigeria. He is also the publisher of Media Issues, an online newspaper that can be found at www.mediaissuesng.com

http://www.mediaissuesng.com/entertainment/the-woman-as-an-enigma/

Starcrest Nigeria Energy Limited has accused Seplat Petroleum Development Company of acquiring Eland Oil and Gas Plc without due process, having failed to get the consent of Starcrest and Elcrest Exploration and Production Nigeria Limited, joint venture owners of Oil Minining Lease (OML) 40.

Seplat has offered cash payment of about GBP382 million, three hundred and eighty-two British pounds, for the acquisition of Eland for its 45 percent stake in OML 40.

Starcrest’s contention is based on the fact that the deal was anchored on a wrong premise, as Eland has no stake in OML 40. The 45 percent stake is held by Elcrest and not Eland. Starcrest and Elcrest are joint venture in OML 40.

It further disclosed that Eland which is a minority shareholder in Elcrest has no hydrocarbon entitlement produced from OML 40, except for dividend from Elcrest which is however subject to declaration of dividend as deemed appropriate by Elcrest.

Starcrest said further that prior to the announcement of the acquisition of Eland by Seplat, it was neither consulted, informed or briefed on the offer or terms of acquisition, and could therefore not carry out due diligence on the offer.

Enraged by this development, Starcrest said it has taken appropriate measures to contact relevant authorities both in Nigeria and United Kingdom, including seeking legal options aimed at putting a reign on the transaction.

Besides, it said it has also notified the Department of Petroleum Resources (DPR) and the Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC) over the illegal acquisition. NPDC is the operator and holder of 55% stake in OML 40, making it the majority stakeholder.

Efforts by Media Issues to reach Seplat has been fruitless.

Last month, the boards of Eland Oil & Gas PLC and Seplat Petroleum Development Company PLC announced that they had reached an agreement on terms of a recommended cash acquisition for 100% of Eland’s share capital, a deal Seplat hopes to boost its oil production in the Niger Delta.

OML 40 is located in the northwestern Niger Delta near Warri. Production which is currently about 10,000 barrels per day is exported by pipeline 67 kilometres south to Shell’s Forcados oil terminal. In 2012, Elcrest E&P completed the acquisition of a 45% interest in OML 40 from Shell, Total and Eni. NNPC also transferred its 55% equity in the licence to its E&P subsidiary, NPDC.

http://www.mediaissuesng.com/oil-gas-power/starcrest-accuses-seplat-of-illegal-acquisition-of-eland-petitions-dpr-npdc/

In his presentation at the Assembly Chambers Wednesday, Governor Ihedioha presented to the House a total proposed budget of N197,607,272,328, with recurrent expenditure at N91,377,822,129, which is 46.2 percent of the budget, while Capital expenditure stood at N106,229,450,200, which is 53.8 percent of the budget.

He said, “In summary, the Recurrent Expenditure is N91, 377,822,129. However, this figure includes the repayment to FGN on debts including bail out funds and rescheduled service of bonds.

“Our capital expenditure is N106, 229, 450,200 which represents 53.8 percent of the proposed budget. This is a welcomed development in an era where many other administrations have well below 40 percent in capital expenditure. It goes without saying that capital expenditure drives development and growth.

He said the focus of the 2020 Budget is six pronged aimed at “rebuilding infrastructure, especially roads, smart electricity sub sector, Agriculture by laying the groundwork for sustainable agriculture, health delivery, with focus on health insurance, primary healthcare and cleaner environment, human capital development, especially technological advancement, technical education, women and youth empowerment, Ease of Doing Business, job/wealth creation and youth empowerment.

The Governor said the six planks of the budget will be achieved through, enhancement of Internally Generated Revenue (IGR), aggressive road reconstruction programmes, enabling environment for private sector investment, smart public private sector partnerships, capacity building especially for the youth, provision of agricultural inputs and development of agricultural infrastructure, local governments partnerships, health insurance, primary healthcare and cleaner environment.

He stated that the 2020 budget proposal which encapsulates government’s political, economic and social development strategies, aims at giving the citizenry a sense of belonging.

Governor Ihedioha recalled the state of Imo before he was sworn in as Governor and how far his administration has gone in actualizing the Rebuild Imo Agenda.

He said “The State of colossal ruins this government met upon the inception of our administration is no longer news. It was an all round devastation spanning every facet of infrastructure, public utilities, health, education, industry and the public service to mention but a few.

“Imo State was like a pariah state avoided by investors, ignored by International donor agencies and denigrated by national agencies.

He noted that “Last year, the State was among few States in Nigeria that could not qualify to receive 18m dollars World Bank grants due to absence of transparency and accountability in governance.

“Reports upon reports lamented the unwillingness of the then Government to work with constitutionally approved structures of governance, its lack of due process and resort to ad hoc and episodic approaches to governance. This came along with a huge loss in investor confidence and absence of international development assistance.

He said on assumption of office, he pledged to rebuild the State and restore its glory.

“Mr.Speaker, I am glad to report that we have not wavered on that pledge”.

He stated, “Consequently, I am here today, in keeping with the Constitutional requirement to present to this Honourable House, the Budget proposal for 2020. As you are all aware, prior to our inauguration, we began by harnessing our huge human and economic resources to set a clear path in the rebuilding process. We had set up a high-powered Transition Technical Committee (TTC) comprising very distinguished ladies and gentlemen from both within the state and the diaspora. These resource persons met and articulated a possible development path.

“Consequently, government set out a vision to elevate Imo to become one of the top three state economies in Nigeria by 2025 and ranked within Africa’s top ten economies by 2030. To this effect, we are leveraging the abundant human capital and natural endowments of the State to build an economy anchored on good governance, accountability, wealth creation, rule of law and sound management of state resources. We have also mapped out a Short-term Plan involving, some quick-wins, particularly restoration of critical infrastructure, public utilities and security. In the same vein, we activated the State Health Insurance Scheme.

“Furthermore, we have set up a structure for transparency and accountability in the governance process. On this score, I signed the Executive Order 005, known as Treasury Single Account (TSA) Order. The essence is to consolidate all government revenues under one account. Similarly, we have signed to implement the International Public Sector Accounting Standards (IPSAS). These measures are designed to plug leakages and increase Internally Generated Revenues (IGR) in the State coffers.

Governor Ihedioha revealed plans of his administration to embark on massive roads construction across the State.

“Mr. Speaker, Honourable Members, I am very glad to inform you that works have commenced on 25 critical roads across the State. Also recently we awarded portions of five major roads leading into the State capital. These roads are the Owerri-Orlu Road, Owerri-Okigwe Road, Owerri-Obowo Road, Owerri-Aba Road and the Owerri-Port Harcourt Road. Notably, these roads are federal roads but impact the ease of movement and doing business in the State hence our intervention. In all, about N40Billion is being committed to these projects. Likewise we have awarded contract for the construction of Oguta link road to connect the Oguta Lake Resort to enhance access to this international tourism haven.

“Mr. Speaker, we have also paid attention to the rural road construction. Essentially, we have harnessed resources and paid N500Million counterpart funding to the World Bank and so attracted N13.5 billion from the Bank, under its Rural Access and Mobility Project (RAMP). A cumulative distance of 380.7 kilometers is already under construction across 26 local government areas under this programme.

He said lives of the people of the State has also received the attention of his government

“Similarly, we have given priority attention to the security of lives and property in the State. The Operation Iron Gate is on course and has significantly brought down the level of insecurity we met at the inception of this administration. In this regard, we have directly engaged special units of security agencies including anti-cult and anti-kidnapping units. We have also held security summits on flash points in the State and mapped out special policing strategies for the areas. Likewise we have activated an emergency call centre which has enhanced rapid response to security alerts. In the same manner we have acquired special gadgets to help forestall the menace of these undesirable elements in our society. Currently, we are effectively participating in a collaborative manner with sister states in the South East towards strengthening regional security. Tellingly, we are coordinating this effort.

Sports he said, has not been left out in the Rebuild Imo Agenda

“As a government and a people, we have lofty plans for sports development in the State. This is borne out of the well-established pedigree of Imolites as national sporting icons. We are also mindful of the huge sporting potentials amongst our people and are determined to mine these talents to the overall benefit of the State. On this score, we are investing heavily in upgrading our sports infrastructure such as the rehabilitation of Dan Anyiam and the Grasshoppers’ stadia. We are also partnering with the local governments in the construction of 27 mini-stadia in the Local Government Areas. Drawing from these investments into sports infrastructure, we would be bidding to host the National Sports Festival for 2022.

Governor Ihedioha revealed plans of his administration to improve the quality of education in the State and give due attention to technology

“As I indicated in my inauguration address, we have commenced the rebuilding and upgrading of the four technical colleges in the State under our Technical & Vocational Education Training (TVET) programme. The beneficiary institutions include Government Technical College Owerri, Ahiara Technical College, Government Technical College Okporo, Orlu and Government Technical College, Osu, Mbano. Our target is that by 2020 we should have hit 60 percent mark of post-Basic students as enrolees in the TVET system.

“In the same vein, we are giving attention to capacity building in technology. For instance, we facilitated training of 200 teachers in Microsoft office and basic internet skills by Digital Bridge Institute – a training arm of the Nigerian Communications Commission – NCC. Similarly, we are in collaboration with Leo Stan Eke Foundation for the training of 5400 Imo Youths in information technology. So far 2300 youths from 13 Local Governments of the State have benefitted from the training. An additional 3100 beneficiaries for the remaining Local Government Areas would proceed for the training in due course.



“Other investments in this sector include training of 250 women in partnership with Microsoft on Computer Coding and Web development, most of whom have already gained employment. Others include 100 Imolites on artificial intelligence and machine learning in partnership with 6-Factor, a California-based tech company. Similarly 2000 youths have been trained on financial technology, in collaboration with e-Transact and Iwuanyanwu Foundation. These programmes are meant to make our people acquire globally competitive skills and therefore more employable. So far, 500 Imo Youths have been trained in sustainable agricultural skills.

Governor Ihedioha also spoke on the success his administration has recorded in offsetting the huge pension bill of pensioners in the State

He said “Mr. Speaker, Honourable members, I am glad to inform you today that what seemed impossible a few months ago has been resolved. Here, I refer to the pension debacle. We have reformed our pension administration system, developed a credible pension data-base following a painstaking verification exercise. Notably, this action has saved Imo State approximately N280m monthly. Accordingly, we have commenced payment of pension arrears.

“It is pertinent to state that payment of salaries and pensions remains the bulk of our recurrent expenditure. Indeed about N3.5b (70% of an estimated N5b from the monthly FAAC receipts) is spent on salaries and pensions. These figures are significantly higher than what was expended by the previous administration, primarily because while they paid workers a reduced sum based on an arbitrary percentage of their earnings and owed pensions, we have not only commenced payment of pension arrears, but also full payment of workers entitlements.

“My fellow compatriots, following these various strategic reforms and fiscal responsibility interventions, Imo State is now in the Open Governance Partnership League. This thus qualifies us for performance-based grants of the World Bank States Fiscal Transparency, Accountability and Sustainability (SFTAS) programme. As a result of these measures, Imo State has gained positive image in the international community and multilateral development institutions.

In his address, Speaker of the Imo State House of Assembly, Chiji Collins, while welcoming the governor, noted that this is his first budget proposal after assuming office.

He reassured of the commitment of his colleagues, irrespective of political party affiliations, adding that, “the indelible achievements Governor has recorded since assumption of office is worthy of commendation, despite inheriting a state in ruins with humongous infrastructural and institutional decay”.

The governor was accompanied by his deputy, Gerald Irona as well members of the expanded executive council.
http://www.mediaissuesng.com/news/governor-ihedioha-proposes-n197-6b-2020-budget/

Honesty is the best health policy, but some folks are too embarrassed to share personal information with their doctors and that can be a deadly mistake.

“Very often, patients hold back or distort important information that can be life-saving because they’re afraid of being judged,” Dr. Joe Colella, M.D., a Pittsburgh-based physician tells Newsmax.

Here are eight examples of information you should always share with your doctor:

You’re taking supplements. Your doctor needs to know all your medication, including vitamins and other supplements such as herbs, to make sure that there is no dangerous interaction between them. Gingko, for example, can cause heart palpitations and can dangerously interact with blood pressure medications.

There’s blood in your stool or urine. People don’t like to talk about bodily functions, but the presence of blood can signal more serious illness, says Colella. Blood in the stool is a symptom of colorectal cancer that is curable if caught early.

You saw something on the internet that worries you. “I’m a huge fan of having well-informed patients,” says Colella. “It means that they are paying attention to their health. Just remember that medical information gathered from the web is general and may not relate to your case.”

You have poor diet and exercise habits. Colella says that most people exaggerate about how much they exercise and downplay their excess eating. “You shouldn’t be embarrassed to talk to your doctor about your diet because he or she can help or refer you to a nutritionist,” he says. Poor lifestyle habits are linked to many chronic diseases such as heart disease, diabetes, and more.

You are depressed. There’s no stigma about feeling blue and very often your doctor can help with therapy or short-term medication. Emotions can wreak havoc with your physical health, causing loss or appetite, headaches, or gastrointestinal woes.

You stopped taking medication. “Instead of telling the doctor, some patients act on their own,” says Colella. “You are risking your life!” This is especially true for blood pressure meds, blood thinners, and anti-depressants.

You’re not interested in sex lately. It’s important to come clean about your sex life because lack of interest can signal a more serious problem such as vascular disease, an imbalance in blood chemistry, and even anxiety or depression.

You don’t reveal past medical history. Even surgery that was performed decades ago has significance, says Colella, who revealed that one patient (not his!) lost the wrong kidney when doctors didn’t know he’d previously had a transplant. “I tell my patients to write a complete medical history including all surgeries and their location as well as past illnesses and those which run in their families. If you walk in with a written record, there’s less chance of error and a greater chance of getting the best treatment,” he says.
– Newsmax

http://www.mediaissuesng.com/health/8-things-people-hide-from-their-doctors-but-shouldnt/

By Emeka Nze

Oriental Energy Resources Limited, a marginal oil field operator, has embarked on a massive reorganization of the company, leading to the sack of some top management employees.

The exercise, which is aimed at repositioning the company for improved performance, has affected the Managing Director, Ignatius Ifelayo, Executive Vice Chairman and other top ranking management staff.

The decision to reorganize the company was approved by the Executive Chairman and CEO, Muhammadu Indimi whose son, Ahmed Indimi, also a director, is a husband to President Muhammadu Buhari’s daughter, Zahra.

Though no reason has been given by the company for the reorganization, Media Issues gathered from sources close to the company that the company has been struggling with production figures.

The company has a total of three oil fields – Oil Mining Lease (OML) 115, Ebok and Okwok. Of these three assets, only Ebok which is currently delivering about 20,000 barrels per day (bpd) is producing. OML 115 is still at exploration stage while Okwok is undergoing development.

Media Issues also gathered that two years ago, a similar development played out when the daughter of Muhammadu Indimi, the Executive Chairman, Amina Indimi-Fodio, who is also the Legal Counsel/Director of the company, sacked all staff that were above 50 years of age. Her decision was later overruled by her father, leading to the recall of the affected staff.

Oriental was founded in 1990, taking advantage of government’s policy of encouraging indigenous participation in the upstream sub-sector of the oil and gas industry, which led to the company being granted Block OPL224 offshore Nigeria in 1991.

Since then, the company has successfully converted OPL224 into OML 115 and expanded its portfolio to include both the Okwok and Ebok assets. Following an aggressive exploration and drilling program, and the largest development program for an independent Nigerian oil company to date, the Ebok Field achieved First Oil in the 2nd quarter of 2011.

http://www.mediaissuesng.com/exclusive/oriental-energy-restructures-sacks-top-management-staff/

The yuletide season comes to life in Lagos as Zenith Bank Plc lights up Ajose Adeogun Street with the theme “LET THERE BE LIGHT”

This year marks the 14th year since the traditional Light up Ceremony at the Ajose Adeogun roundabout came to be. The official lighting was done by Mr. Ebenezer Onyeagwu the GMD/CEO, Zenith Bank Plc supported by Executive management, staff and customers in attendance.

Speaking during the Light up Ceremony, the GMD/CEO said “Ajose Adeogun Street has come to be recognized by not only Lagosians, but Nigerians in general as an iconic place and tourist attraction because of the beautiful decorations adorning its length and breadth during the yuletide season. In fact, people from all walks of life visit with their friends and families to take pictures of this wonderful spectacle, especially at night and enjoy the ambience of the street and season.”

The light up ceremony came shortly after the ‘Zenith Bank Aspire Music Festival’, which took place in September and is part of the Bank’s line up of events ushering in the yuletide season and end of the year festivities. Others include ‘The Zenith Bank Tech Fair, Style by Zenith 2.0 and Zenith Bank Christmas Youth Parade. These events are in line with the Bank’s retail business drive and continued commitment to customers as they are guaranteed opportunities to network and enjoy discounts on products displayed at these events.

http://www.mediaissuesng.com/business-news/zenith-bank-restates-commitment-to-csr-unveils-christmas-decoration/

November is Pancreatic Cancer Awareness month and this year, beloved “Jeopardy!” host Alex Trebek has joined the World Pancreatic Cancer Coalition’s global awareness initiative, appearing in a new public service announcement encouraging people to learn the risk factors and symptoms of pancreatic cancer.

“I wish I had known sooner that the stomach pain I experienced prior to my diagnosis was a symptom of pancreatic cancer,” Trebek says in the PSA. He encourages people to wear purple during this month, especially on Nov. 21, which is World Pancreatic Cancer Day, and spread the word on social media.

“We are so grateful that Alex Trebek has used his platform to give a very public face to this terrible disease,” she says.

Pancreatic cancer is the only major cancer with a single-digit, five-year survival rate ranging from a mere 2% to 9%. Each day, more than 1,184 people worldwide die from the disease. Actor Patrick Swayze and Apple cofounder Steve Jobs are just two of the many celebrities who succumbed to this devastating illness.

Like most diseases, early detection is key to beating pancreatic cancer because you have access to more treatment options, including surgery. Surgery increases survival rates tenfold. However, because the pancreas is located deep in the abdomen, doctors usually cannot see or feel the tumor during a routine physical examination.

Risk factors for developing the disease include family history, long-standing diabetes, smoking, age, being male, eating red and processed meat and obesity.

Early warning signs include:

Pain in the abdomen

Weight loss

Jaundice

Appetite loss

Nausea

Fatigue and weakness

Depression

Recent onset diabetes

“We hope that people will be more aware of the common risks and symptoms and alert their doctor sooner when there is more opportunity for intervention,” says Fleshman.

NewsmaxHealth

http://www.mediaissuesng.com/health/pay-attention-to-these-warning-signs-of-pancreatic-cancer/

By Timothy Oyomare

Where is the amiable wife of Adams Oshiomhole? This is the question currently dominating the lips of most Nigerians who have enquired to no avail, as to the whereabouts of Lara Fortes Oshiomhole, whose gorgeous personality overwhelmed the former Edo State Governor.

The questions are elicited by the long absence of Lara from the public space, particularly, the media which has celebrated her beauty and allure, drawing so much attention to the couple.

What could have made Lara to recede into oblivion?

The absence of the Cape Verde born Lara who was a former employee of Emirates Airlines from the public space is fuelling so much speculation on whether her four and a half years old marriage, with age differentials of over 30 years with her spouse, is still in intact.

There have also been rumours that the marriage which was consummated on the 15th of May, 2015 at Auchi, Edo State, has been dissolved, while others believe she is pregnant, and was avoiding public attention for the period of anti and post natal exercise.

The marriage of Lara to Oshiomhole which was chaired by former Head of State, Yakubu, attracted so many dignitaries, including the big wigs in the Nigerian political landscape, particularly, the All Progressives Congress (APC).

It is high time the National Chairman of the APC spoke to avoid unhealthy speculation. To be a celebrity is not cheap. There is a price that goes with it. As celebrity, if you do not find the public, the public will find you.

The initial stage of the marriage enjoyed media exposure that followed with glamour and glitz. Her fans cannot afford to be thrown into the dark as to the goings-on with the beautiful one from the Cape Verde Islands.

http://www.mediaissuesng.com/exclusive/where-is-oshiomholes-wife-lara-2/

Today’s journal was supposed to be about many things. It was supposed to be about running into fellow travellers and creating new adventures with them. Wading in a pink lake and finding Fura de Nunu. Instead, it’s about how I got sexually assaulted by a taxi driver, his singular act eclipsing the rest of my day.

It was 9 pm and after a long day of traipsing around Dakar, I had shut down. The rest of the team, however, hadn’t. We were right by the Renaissance Monument and had just grabbed dinner. Someone suggested we go eat at the top and everyone was in consensus except me. I had gotten to the point of the day where my wig felt too tight and my makeup felt too heavy. We had spent most of the afternoon at Lac Rose and the itch I had developed on my legs after the saltwater had tried was starting to spread. The only activity I was interested in indulging in was a hot shower.

I decided to grab a cab to our Airbnb. Captain was insistent on dropping me off but I was more insistent on finding my way. It was just 20 minutes away and I was born and bred in a madhouse like Lagos. What could exist in a city like Dakar that I couldn’t handle? Which was the reason I let my guard down. I didn’t bother to note the plate number of the cab I was in or the make and model, and text it to the rest of the team. I just hopped into the first cab I saw communicating my destination with broken French, gestures and the Google Maps app.

The first 10 minutes of the ride was pleasant. The driver kept pointing things out on the road and telling me the word in French, then Wollof. I nodded along and repeated the words he taught me enthusiastically like I was a toddler who was just learning her alphabets. Then he pointed to himself and said the Wolof word for man pointed at me and said the Wolof word for girl. He did this repeatedly until I comprehended what he was trying to communicate. “Oui c’est bon” I said cheerfully when I finally understood. But he continued and pointed at himself again saying the Wolof word for man but when it was my turn instead of pointing at me again, he cupped my left breast in his palm and squeezed it as he said the Wolof word for woman. I froze.

It was hard for me to understand what had just happened at first. A part of my brain wanted to register it as a mistake — maybe he grazed my boob accidentally. But when I looked up at his wrinkled face, I saw a sly smile plastered on it. “Oui?” he said. I didn’t speak, I looked straight ahead, then at my map, my Airbnb was still 10 minutes away. My mind raced at a thousand thoughts per minute. I was alone in a moving vehicle in a foreign country where I didn’t speak the language with a foreign man who had just sexually assaulted me. The rest of my team only knew I was on my way back to the Airbnb, no one knew what he looked like. In fact, if I was asked to point him out in a line up right now, I couldn’t.

We were driving through near-empty side streets with no street lamps and I only had a vague sense of where I was. It was at that moment fear consumed me. There was no space for any other emotion. Not anger, or revulsion, they all took a backseat and I moved into fight or flight mode. The window beside me was rolled down. I could see the doors were locked but I didn’t want to alarm him by attempting to lift the lock. So I placed my arm on the window so that he didn’t suddenly roll it up.

I stayed perfectly still, using the map to direct him. I said a little thank you prayer every time he went in the direction I indicated instead of suddenly veering off track. Then I called a trusted friend and put the phone on speaker. I called a couple of times before it finally connected. By this time, I was five minutes away from my destination but it felt a lot longer. I told my friend that I had just been assaulted and I needed him to stay on the phone until I got to my Airbnb.

All through, the taxi driver kept chatting away, asking questions in French then broken English when he got no response. I stayed quiet only speaking when I wanted to give a direction. I could tell he didn’t understand how a map worked and simply assumed I was familiar with the area. I said another thank you prayer for this. Once he got to my hotel I barely waited for the car to come to a halt before jumping out.

My friend was still on the phone but I couldn’t hear him there was a sudden rush of blood to my head brought on by the sheer relief of seeing my Airbnb. I paid him through the window, collected my change and let myself into my Airbnb without looking back. I briefly wondered if I should have stopped a couple of buildings back and walked so that the pervert wasn’t armed with knowing my address. But it was late at night in an unlit back street and I thought about the story of the pot and the frying pan.

I went up the stairs and tried to open the door to our floor. It was locked so I sat on the staircase trying to take deep breaths to calm myself. My friend was still on the phone trying to calm me, but I was so shaken up. I tried to speak about what had just happened, instead, I found myself crying. It took me more than a couple of minutes to calm down. This wasn’t my first experience with assault but it was the first time I was also forced to fear for my safety.

The worst part wasn’t the assault itself, but the 10-minute ride that followed where I sat stock-still in fear hoping that that the groping was the extent of his perversion and I didn’t end up in a ditch by the end of the night. As I write this, I still feel no rage, just gratitude that the night didn’t take an even uglier turn.

By Toketemu from Zikoko

http://www.mediaissuesng.com/entertainment/i-got-sexually-assaulted-in-dakar/

By Timothy Oyomare

After several defaults on its debt-servicing obligations, Seven Energy International Limited, an indigenous Nigerian oil and gas company, has been acquired by Savannah Petroleum Plc, a United Kingdom –based company after reaching a deal and obtaining ministerial consent.

Savannah Petroleum had said in October this year that the application for ministerial consent for the transaction was being processed with the Department of Petroleum Resources for further transmission to the office of the Minister of State for Petroleum Resources for final approval.

In a statement on Friday, Savannah Petroleum said “At a court hearing on 13 November, administrators were appointed to Seven Energy International Limited and yesterday (Thursday) effected the transfer of the Seven Assets to group companies controlled by Savannah and AIIM.

“Following this step, final long-form documentation with respect to the transaction was executed in accordance with the agreed steps as set out in the Implementation Agreement, and the transaction has now been completed.”

According to the statement, the British firm now owns an 80 per cent interest in Seven Uquo Gas Limited, which in turn holds a 40 per cent participating interest in the Uquo field located in South East Nigeria; and a 51 per cent interest in the Stubb Creek field located in South East Nigeria (through 100 per cent ownership of Universal Energy Resources Limited).

The firm also acquired an 80 per cent interest in the Accugas midstream business, comprising the 200mmscfd Uquo gas processing facility, a 260km pipeline network and long-term gas sales agreements with downstream customers.

The statement said one of Savannah’s partners, African Infrastructure Investment Managers, as part of the transaction completion, acquired 20 per cent interests in SUGL and Accugas in return for cash consideration to Savannah of $54m, which had been received.

The Chief Executive Executive, Savannah Petroleum, Andrew Knott, said, “We are very pleased to have completed the Seven Energy Transaction. The deal transforms Savannah into a full-cycle E&P company in West Africa and marks the start of a very exciting time for us.

“We have acquired a business with great people and a strong set of exploration, appraisal, development and production assets which are expected to be highly cash flow generative for the company.”

Seven Energy operated in Nigeria through its wholly-owned subsidiaries, Septa Energy Nigerian and Accugas, with headquarters in Lagos and London.

The firm said its liquidity was severely affected by a range of external factors, including loss of material cash flow from its Strategic Alliance Agreement since February 2016 because of recurrent militant activity that resulted in the closure of Forcados export terminal, and a significant backlog of unpaid invoices relating to the supply of gas to federal and state-owned power stations.

Seven Energy International Limited is among some of the indigenous oil companies that have been struggling with production owing to huge debt profile arising from drop in oil price.

http://www.mediaissuesng.com/exclusive/seven-energy-oil-acquired-by-savannah-petroleum-over-indebtedness/

Imo State Governor, Rt. Hon. Emeka Ihedioha CON, has reinstated his administration’s commitment towards transforming the state.

The governor further disclosed that his administration would not lend itself to the “whims and caprices of personal discretion”, noting that the, “greater good of the people of the state, would at all times take priority position”.

This is as he disclosed plans to upgrade the General Hospitals in Orlu, Okigwe, Aboh Mbaise and Awo Omamma Council areas into the status of specialist hospitals in specific areas of medical specialization.

The Governor stated this at the inauguration of the visitation panels to Imo State University, Imo State Teaching Hospital, Imo State Polytechnic and the Board Imo State Hospitals Management, held at Expanded Executive Council Chambers, Government House, Owerri on Wednesday.

He said the constitution of the panels were neither to probe nor witch-hunt anybody but a necessity to enhance the quality of education and health care delivery as well as ensure overall growth and development of the state.

He said, “at the inception of this administration, we were inundated with plethora of complaints on education sector in the state, especially at the tertiary level. And as a responsive government, we felt that we would be abdicating our obligation to the people, if we do not look into these complaints.

“For these reasons, we deemed it necessary to respond to these hues and cries by looking into the operations of these critical institutions.”

He continued, “the setting up of these Institutions’ Visitation Panels is in furtherance of our mission to rebuild our educational institutions. By these, we hope to achieve effective governance institutions as well as strengthen educational services delivery and processes in these tertiary institutions.Today, therefore, we are inaugurating the visitation panels to these Imo State flagship institutions of higher learning to salvage them from sliding down the precipice of total collapse.”

On the choice of non indigenes as members of the Visitation Panels, the governor said, “we had to go outside the state to choose some members. This is with a view to ensuring impartiality in the considerations of the issues that would be brought before them”.

Governor Ihedioha pointed out that the terms of reference of the panels include, “to identify the strength and problems of the institutions and make appropriate recommendations to the visitor; ascertain the operations of various departments and units; look into cases of procurement and complaints bordering on cliqueism and cultism in the institutions; investigate students’ complaints on various issues as well as conduct internal audits on institutions’ finances.

On the Hospitals Management Board, the governor said, “the health sector was not spared the pervasive rot, hence the need to constitute the board to carry out intended reforms, with a view to ensuring peak performance at the various state owned health institutions”.

“Upon assumption of office, we brought to Imolites a report on the state of affairs in our institutions and agencies. For instance, of the 19 General Hospitals under Imo State network of health services, only 10 were still in operation. Of these 10, only 4 were offering reasonable services. All of them were suffering from lack of modern hospital equipment, moribund processes and demoralized staff.

“Consequently, in the Budget for next year, we have in focus the complete overhaul of all these health institutions. The four General hospitals in Orlu, Okigwe, Aboh Mbaise and Awo Omamma (Oru East LGA), would be upgraded into the status of specialist hospitals in specific areas of specialization.”

He described as “noble and revered personalities”, members of the panels and expressed confidence that they would bring their wealth of experience and expertise to bear on their assignments without fear or favour for the good of the state.

Responding, Chairman off the Hospitals Management Board and former Deputy Governor of Imo State, Dr. Douglas Acholonu, who spoke on behalf of the members of his board, thanked the governor for the confidence reposed in them to serve and promised that they will “discharge their duties with a high sense of responsibility”.

In his response on behalf of the Visitation Panels, Prof. Chinedu Nebo said, “we will not disappoint the people of Imo State on this assignment. We will do our best and as the governor has said, it is neither a probe nor a witch-hunt but for the overall good of the people.

Prof. Nebo, a former Vice Chancellor of the University of Nigeria and former Minister for Power and Energy further disclosed that Governor Ihedioha is on the right track towards fixing the various critical institutions of the state

http://www.mediaissuesng.com/uncategorized/governor-ihedioha-inaugurates-visitation-panels-to-imsu-imsuth-others/

Top global designers and brands will storm Lagos for the “Style by Zenith 2.0” Fair, the second edition of Zenith Bank’s highly anticipated Lifestyle Fair, which holds from Friday, November 29 to Sunday, December 1, 2019 at the Eko Energy City, Eko Atlantic, Victoria Island, Lagos.

Some of the top designers billed to feature at the fair include Tom Ford, Dolce and Gabbana, Tokyo James, Eyola, Mai Atafo, Okunnoren Twins, Ejiro Amos-Tafiri, Telvin Nwafor, Fikirte Addis, House of Kaya, Gozen Green, Trish O, Chulaap, Agatha Moreno, Sunny Rose, Nonnistics, Caesar Couture, Yartel, Orapeleng Mdutle, Mustapha Hassanali and the Fabric Hub, amongst others.

Aside showcasing their designs during the runway modelling sessions at the fair, they will also be participating in the various Lifestyle masterclasses, offering expert opinions on recent trends and designs in the global fashion industry.

Launched in 2018, the “Style by Zenith” initiative was created with the objective of supporting and creating value for customers by focusing on various aspects of their lifestyle.

“Style by Zenith 2.0” caps a year of all-encompassing customer lifestyle engagements by Zenith Bank through events such as the Aspire Music Festival, a musical concert for millennials held in Lagos in September and the Aba SME Fair organised for SMEs in the Aba Fashion Market, Abia State last month. This is in addition to the Light-Up Ceremony of the yuletide decorations on Ajose Adeogun Street, Victoria Island coming up by the second week of this month.

The three-day fair has an interesting line up of activities including runway modelling by leading Nigerian and international models accessorized by top global and Nigerian designers, modelling masterclasses, exhibition of lifestyle, beauty, health & fitness products, food and drinks, games arcade for both children and adults as well as musical concert featuring Nigeria’s biggest artistes.

Fashion One, the leading global fashion and lifestyle channel will once again be working with Zenith Bank on the “Style by Zenith 2.0” initiative.

Registration for the event, which is free for everyone, can be done by visiting www.zenithbank.com/style.

Zenith Bank Plc is recognized as one of the most innovative financial institutions in Nigeria and was voted the most customer-focused bank in Nigeria for the Retail and SME segments in the 2018 KPMG Annual Banking Industry Customer Satisfaction Survey (BICSS). Most recently, the bank won the Best Bank in Retail Banking and the Bank of the Year at the 2019 BusinessDay Banks and Other Financial Institutions (BOFI) Awards, and was ranked as the Best Digital Bank in Nigeria 2019 by Agusto & Co.

http://www.mediaissuesng.com/entertainment/top-global-designers-storm-lagos-for-style-by-zenith-2-0-lifestyle-fair/

President Muhammadu Buhari has expressed shock over the death of former Minister of Petroleum Resources, Tam David-West, who has died at the age of 83.

Professor Tamunoemi Sokari David-West was a consultant virologist of national and international standing.

He served as Commissioner of Education in the old Rivers State, Minister of Petroleum and Energy under the Muhammadu Buhari military regime, and Minister of Mines, Power and Steel under Gen. Ibrahim Babangida regime.

Reacting to his death, Buhari commiserated with the David-West family, the people of Buguma, Kalabari Kingdom of Rivers State, the academia, and all those who loved “the forthright Tam David-West.”

A statement signed by his Media Aide, Femi Adesina and sent to DAILY POST quoted the President as saying: “He had an indomitable spirit, stood resolutely by whatever he believed in, and was in a class of his own.”

Buhari prayed that God will rest the soul of the committed nationalist, urging all those who believed in the ideals he espoused to approximate same, for the betterment of Nigeria, and humanity in general.


http://www.mediaissuesng.com/oil-gas-power/buhari-mourns-tam-david-west/

The widely used bladder drug Elmiron may cause eye damage, a new study claims.

A report released last year suggested that the drug — known as pentosan polysulfate sodium and used by hundreds of thousands of people for decades — may be toxic to the retina, the light-sensing tissue at the back of the eye.

The three Kaiser Permanente ophthalmologists who conducted the study identified 140 patients who’d taken an average of 5,000 pills each over 15 years. Of those 140 patients, 91 agreed to an exam, and the researchers took detailed images of the back of their eyes.

Twenty-two of the 91 patients showed clear signs of Elmiron toxicity. The rate of toxicity rose with the amount of Elmiron taken, from 11% of those taking 500 to 1,000 grams to 42% of those taking 1,500 grams or more.

The findings showed that about one-quarter of patients who’d taken large amounts of Elmiron had clear signs of eye damage, and that damage caused by the drug could be mistaken for other retinal conditions, such as age-related macular degeneration or pattern dystrophy.

Elmiron is the only drug approved in the United States to treat interstitial cystitis, which causes chronic pain in the bladder and pelvis area. It’s estimated that more than 1 million people in the United States, mostly women, have the condition.

“It’s unfortunate. You have a patient with a chronic condition like interstitial cystitis, for which there is no cure and no effective treatment. They get put on these medications because it’s thought to have few side effects and few risks, and no one thinks about it again. And year after year, the number of pills they’re taking goes up and up,” study author Dr. Robin Vora said in an American Academy of Ophthalmology (AAO) news release.

It’s unclear how much Elmiron is too much, so patients who show no signs of toxicity should be screened for retinal damage at least once a year, Vora said.

Those who do have signs of eye damage should speak with their urologist or ob/gyn about discontinuing the medication, he advised.

If it’s identified early, the eye damage caused by Elmiron may be limited by stopping the medication, according to the researchers.

The research was to be presented Oct. 12 at the annual meeting of the AAO, in San Francisco. Findings presented at scientific meetings should be considered preliminary until published in a peer-reviewed journal.

http://www.mediaissuesng.com/news/bladder-drug-can-cause-eye-damage/

Early Retirement May Speed up Cognitive Decline


Taking an early retirement may sound like a good idea for body and mind, but a new study found it can actually speed up cognitive decline. Some cognitive decline is normal among seniors, but what researchers discovered was that early retirement can accelerate that rate.

These were the findings of a study conducted by faculty at Binghamton University, State University of New York. Heading up the team was Plamen Nikolov, assistant professor of economics, and Alan Adelman, a doctoral student in economics. Their aim was to determine what the relationship was between pension benefits and individual cognition in people aged 60 and above. Their focus was on China’s senior citizens.

Nikolov and Adelman analyzed China’s New Rural Pension Scheme (NRPS), which is a formal pension program available to people living in rural parts of the country. They then looked at data obtained from the Chinese Health and Retirement Longitudinal Survey (CHARLS), which is a national survey that tests cognition, and especially episodic memory and components of intact mental status among people aged 45 and above.

Based on the study, they discovered “significant negative effects” on cognition function among retirees, with the largest indicator of cognitive decline being delayed recall, an accurate indicator of dementia. This supports previous research that arrived at similar findings. The theory is that early retirement could lead to decreased mental activity associated with the worsening of cognitive skills.

“We were surprised to find that pension benefits and retirement actually resulted in reduced cognitive performance. In a different study we found a very robust finding that the introduction of pension benefits and retirement led to positive health benefits via improvements in sleep and the reduction of alcohol consumption and smoking,” Nikolov said. “The fact that retirement led to reduced cognitive performance in and of itself is a stark finding about an unsuspected, puzzling issue, but a finding with extremely important welfare implications for one’s quality of life in old age.”

By Zoe Papadakis, Newsmax

http://www.mediaissuesng.com/news/early-retirement-may-speed-up-cognitive-decline/

We’ve all heard the adage, “Everything in moderation.” But according to leading health expert Dr. Ellen Kamhi — also known as “The Natural Nurse” — certain foods should be shunned entirely.

“Four out of the 10 leading causes of death in the United States are related to diet,” she says. “These are diabetes, heart disease, cancer, and stroke. If you want to reduce your risk of these conditions, and stave off obesity, cutting back on these six foods is a great place to start.”

Soda. Studies have shown that the more sugar-sweetened drinks people consume, the higher their risk of death. “The optimal intake of sugary drinks is zero,” says Vasanti S. Malik, a research scientist at the Harvard T.H. Chan School of Public Health. “They have no health benefits.”
Soda consumption nearly doubles the risk of cavities in children and increases the risk in adults. The Center for Science in the Public Interest (CSPI) labels soft drinks as “liquid candy.”

Potato chips and french fries. Because they are processed at such high temperatures, these popular snack foods contain a known carcinogen and neurotoxin. According to Clark University Professor Dale Hattis, this compound — called acrylamide — is responsible for several thousand cancers each year.
Potato chips and french fries are also chock full of trans fats, the artery-clogging kind of fat that’s linked to increased risk of stroke, cancer, heart disease, and diabetes.

Doughnuts. “When it comes to health, the only thing good about them is the hole,” quips Carla Wolper, a nutritionist at the New York Obesity Research Center. Dissect a doughnut and you’ll find refined sugar and flour, trans fats, and no redeeming qualities whatsoever.
Coffee cake and baked goods. Commercially baked goods typically contain more trans fats than any other food, says Kamhi. “That’s because they are often made with hydrogenated oils — and fried in them, too.” This applies to packaged cake and biscuit mixes as well.
Lunch meats. They may be convenient, but according to the American Institute for Cancer Research (AICR) processed meats that are preserved by smoking, curing, salting, or by the addition of preservatives (ham, hot dogs, salami, etc.) increase your risk of cancer.
In fact, just a 3.5-ounce daily serving is associated with a 36% higher risk of colorectal cancer.

Canned soup. Traditional canned soup that’s found in supermarkets has high levels of sodium, trans fats, and artificial preservatives such as MSG. “Just one cup of canned soup can have almost 1,000 milligrams of salt — and most people eat more than just one cup,” notes Kamhi. Recommended dietary guidelines call for no more than 2,400 milligrams of sodium daily.
There are many healthier, organic options available so be sure to read labels. “Another alternative is to make your own homemade soup,” notes the expert.

By Lynn Allison, Newsmax

http://www.mediaissuesng.com/news/6-most-unhealthy-foods-to-avoid/