Russia to Forge Cooperation with Foreign Partners

By Adedapo Adesanya The prices of food globally dropped to 121.4 points in August, 2.1 per cent lower than the 123.5 points from July, reversing the rebound registered last month and pushing the index as much as 38.3 points (24.0 per cent) below its peak reached in March 2022. This is according to the latest figure by the Food and Agriculture Organisation (FAO) on Friday, which showed that the drop reflected declines in the price indices for dairy products, vegetable oils, meat and cereals, while the sugar price index increased moderately. The FAO Cereal Price Index averaged 125.0 points in

By Adedapo Adesanya  The Vice President, Mr Kashim Shettima, has departed Abuja for Johannesburg, South Africa, to represent President Bola Tinubu at the 15th BRICS Summit of Heads of State and Government. BRICS, an acronym for Brazil, Russia, India, China and South Africa, is a group of five major emerging and developing economies. In a statement released on Monday by Mr Olusola Abiola, the Director of Information in the Office of the Vice President, it was stated that the VP would be joining other business and political leaders across the world at the summit scheduled for the Sandton Convention Centre,

Kestér Kenn Klomegâh South Africa hosted the 15th BRICS summit from August 22 to 24. The BRICS (Brazil, Russia, India, China and South Africa) members have thoroughly discussed a wide range of significant issues, including the bloc’s expansion, common currency, investment and trade, the bloc’s strategy and geo-policy. We already know that BRICS members consistently champion the rights and interests of Africa and also play an increasing role and influence in the global governance system – particularly international financial and economic organisations. Holding the 15th summit, especially this crucial time, within the context of the emerging multipolar world, BRICS discussed

By Kestér Kenn Klomegâh The Eastern Economic Forum (EEF) is held annually in cooperation with the Far East regional administration in the city of Vladivostok. Three years of COVID-19, followed by Russia’s ‘special military operation’ and the current geopolitical situation, have adversely affected this corporate business event, as Russia looks towards the East and makes the main focus on developing the Far East. Russian President Vladimir Putin said at the opening session that the government would not allow the pace of development to slacken in the Russian Far East as it is a strategic region for the country. “We will

By Adedapo Adesanya President Muhammadu Buhari has been urged by the Socio-Economic Rights and Accountability Project (SERAP) not to sanction the British Broadcasting Corporation (BBC) and Daily Trust over their documentaries on terrorism in the country. Last week, the Minister of Information and Culture, Mr Lai Mohammed, said that the BBC and Trust TV, run by Daily Trust Newspapers, would be punished by the federal government for airing documentaries that allegedly “glorify”, “promote”, and “fuel” terrorism and banditry in Nigeria. In a letter dated July 30, 2022, signed by SERAP deputy director, Mr Kolawole Oluwadare, the organization said, “The media

By Modupe Gbadeyanka A notable philanthropist from Ogwashi-Uku, Delta State, Mr Jude Ndudi Ozah, has donated no fewer than 10 patrol vehicles to the Delta State Command of the Nigeria Police Force. The items were given to the Delta Police Command by the High Chief on Wednesday, December 15, 2021, in the presence of the Obi of Ogwashi-Uku, HRM Obi Ifechukwude Aninshi Okonjo II, and the Commissioner of Police, Delta State, Mr Mohammed Ali. A statement signed by the spokesperson to the Obi of Ogwashi-Uku, Prince Greg Okwumbu, disclosed that the monarch thanked the donor for the gesture, describing him

By Modupe Gbadeyanka Capital market regulator in Nigeria, Securities and Exchange Commission (SEC), has launched a full investigation into dealings in Oando Nigeria, especially its financial statements. It was gathered that SEC has observed alleged malpractices in the company’s financial statements and has formally written to the oil firm to provide sufficient explanations on the mater. According to Channels TV, competent sources divulged to it that SEC commenced the investigations following petitions filed by some foreign investors in Oando Nigeria Plc in relation shareholding structure following the $1.65 billion cash the firm paid in June 2014 to acquire the oil

By Adedapo Adesanya After two sessions of suspended trading over the Easter Holidays, the Naira returned stronger as it appreciated by 0.12 per cent or 50 kobo against the United States Dollar on Tuesday, April 19 at the Investors and Exporters (I&E) segment of the foreign exchange (FX) market. At the market yesterday, forex end-users exchanged their local currency with the greenback for N417.00/$1 at the spot market compared with the preceding session’s exchange rate of N417.50/$1. However, the domestic currency depreciated against the Pound Sterling at the official FX window on Tuesday by 91 kobo to sell at N541.79/£1

By Modupe Gbadeyanka About 3,000 people have been tested in Nigeria for coronavirus disease since it’s the first case was reported in the country on February 27, 2020. Out of these samples, 209 have tested positive for the virus. This disclosure was made by the Minister of Health, Mr Osagie Ehanire, during a Presidential Task Force Press Briefing held in Abuja on Friday. The Minister stated that 30 percent of the cases may be indications of sustained community transmission that have incomplete epidemiological information, while 51 percent are imported cases and 19 are contacts of known cases. “We have tested

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange failed to continue its bullish run after the duo of Central Securities Clearing System (CSCS) Plc and NASD Plc pulled it down by 0.08 per cent at the close of transactions on Thursday. CSCS Plc lost 55 kobo or 3.55 per cent to close the session at N14.90 per share in contrast to the N15.50 per share it finished the earlier session, while NASD Plc followed with a 36 kobo or 2.40 per cent loss to close at N14.64 per unit compared with N15.00 per unit of the preceding day. The

By Nneka Okumazie A measure of a country, or say people, can also be how desirable they are, in another country, or among other people. A good measure of that, outside generic hate, speaks well of the country. A country, or say people, who always think chasing others away, will make their country or people better – without seeking to solve their own problems, will likely remain at that same spot of thinking others are the problem. For years across Africa, there is always the issue of these people should leave, those people should go, or that these people are

By Dipo Olowookere The winning streaks witnessed on the floor of the Nigerian Exchange (NGX) Limited lately was halted on Thursday as profit-taking in some blue-chip equities pulled down the stock market by 0.13 per cent. Heavyweights like MTN Nigeria, GTCO, Cadbury Nigeria and FBN Holdings came under selling pressure yesterday, bringing down the exchange at the close of transactions despite the strong investor sentiment. Business Post reports that the market breadth closed positive on Thursday as the bourse recorded 15 appreciating stocks and 10 depreciating equities led by Capital Hotel, which dropped 9.80 per cent to sell at N2.76.