Major International Business Headlines Brief ::: 22 April 2025

[Bulls n Bears]

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Major International Business Headlines Brief :::  22 April 2025 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  Kenya: Trade, Investment and Infrastracture On Top Agenda As Ruto Visits
China

ü  Nigeria: WTO Slashes Global Trade Outlook On Trump Tariff Disruptions

ü  Africa: Trump Wants World to Subsidise US Empire

ü  Kenya: Keep Construction Moving - Should Kenya Adopt Statutory
Adjudication for Construction Disputes?

ü  Ethiopia: Zone Harvests Over 42,000 Hectares Via Summer Wheat Irrigation

ü  Somalia's Finance Minister Holds Key Talks At IMF-World Bank Spring
Meetings

ü  Kenya: President Ruto in China to Deepen Trade, Infrastructure and
Investment Ties

ü  Nigeria: After 40 Years, Minna Airport Commences Commercial Flights

ü  Nigeria: Army Dismantles 16 Illegal Oil Refining Sites, Arrests 23
Suspects in N'delta

ü  Nigeria: Tinubu Returns to Abuja After Europe Trip

ü  Africa: AU Preparing to Hold Conference to Address Current Debt Crisis in
Continent

ü  US sets tariffs of up to 3,521% on South East Asia solar panels

ü  Modi and Vance praise progress in trade talks as higher tariffs loom

ü  US stocks and dollar plunge as Trump attacks Fed chair Powell

ü  US FTC sues Uber, alleging deceptive subscription practices

ü  China warns nations against 'appeasing' US in trade deals

 


 <mailto:info at bulls.co.zw> 

 


 

 

Kenya: Trade, Investment and Infrastracture On Top Agenda As Ruto Visits
China

Nairobi — President William Ruto will bank on his official China trip to
attract more trade, investment, and infrastructure opportunities for Kenya.

 

The head of state, who is departing tonight to the world's second-largest
economy, will pitch the abovementioned targets at the Kenya-China Business
Forum, bringing together over 100 companies from both countries.

 

President Ruto will also hold bilateral talks with President Xi Jinping on
shared economic transformation, sustainable development, and global
cooperation.

 

"The visit builds on the Comprehensive Strategic Partnership established in
2017, with Kenya recognised as China's leading Belt and Road Initiative
(BRI) partner in Africa," State House Spokesperson Hussein Mohamed said in a
statement.

 

"Kenya has played a central role in advancing regional infrastructure and
connectivity, with flagship projects such as the Standard Gauge Railway and
the Nairobi Expressway significantly transforming its economic landscape."

 

To boost Kenya's tea market in Asia, the President will inaugurate the Kenya
Tea Holding Centre in Fujian Province, enhancing the visibility and market
access of Kenyan tea and supporting smallholder farmers.

 

"Kenya and China will continue aligning high-quality BRI cooperation with
Kenya's national development priorities, focusing on building a robust
industrial and logistics hub for East Africa."

 

Read the original article on Capital FM.

 

 

 

Nigeria: WTO Slashes Global Trade Outlook On Trump Tariff Disruptions

Abuja — The World Trade Organization (WTO) has slashed its forecast for
merchandise trade this year as soaring US tariffs and broader uncertainty
hammer international commerce.

 

The Geneva-based WTO expects the volume of world merchandise trade to
decline by 0.2 per cent in 2025 -- almost three percentage points lower than
it would have been without the US-led trade war, marking a dramatic reversal
from expectations at the start of the year. Trade is forecast to rebound by
2.5 per cent in 2026.

 

The flow of goods and services around the world, which went through a
tumultuous period during the Covid pandemic, had only recently returned to
normal patterns before Donald Trump was elected US president in November.

 

Two weeks ago, Trump announced so-called reciprocal import taxes ranging
from 10 per cent to 50 per cent, though days later he suspended the highest
rates for 90 days and kept 10 per cent as the floor for all countries except
China, whose exports to the US now face duties in excess of over 100 per
cent.

 

 

In the WTO's forecasts, this year's contraction will be even worse if the US
pushes ahead with those higher levels of reciprocal tariffs. "Together,
reciprocal tariffs and spreading trade policy uncertainty would lead to a
1.5 per cent decline in world merchandise trade in 2025," the WTO said in
its report, quoted by Bloomberg.

 

While protectionist policies may boost domestic production, raise revenue
and narrow trade imbalances -- all three of which are Trump's stated goals
-- the WTO said that "over the medium to long term, higher import tariffs
generally have an overall net negative effect on economic activity and
trade."

 

In response to Trump's measures, China has retaliated with levies of its
own, as well as other measures targeting US companies and restricting access
to exports of critical raw materials.

 

The WTO cautioned that a cycle of tit-for-tat responses could lead to a
higher cost of living.

 

"Retaliatory measures in response to restrictive trade policies -- such as
tariffs on specific, difficult-to-substitute materials or intermediate goods
-- could have an outsized impact on inflation, or at least inflation
expectations," the trade body said in its report.

 

Read the original article on This Day.

 

 

 

 

 

Africa: Trump Wants World to Subsidise US Empire

Kuala Lumpur, Malaysia — Donald Trump's top economic advisor claims the
President has weaponised tariffs to 'persuade' other nations to pay the US
to maintain its supposedly mutually beneficial global empire.

 

Geopolitical economist Ben Norton was among the first to highlight the
significance of Trump's Council of Economic Advisers chairman Stephen
Miran's briefing at the Hudson Institute.

 

The Institute is funded by financiers such as media czar Rupert Murdoch, who
controls Fox News, The Wall Street Journal, and other conservative media.

 

Miran made his case just after Trump's electoral victory in A User's Guide
to Restructuring the Global Trading System. Miran attempts to rationalise
Trump's economic policies, which are widely seen as at odds with
conventional wisdom and reason.

 

 

Enhancing US dominance

 

Miran defends Trump's tariffs as part of an ambitious economic strategy to
strengthen US interests internationally with a "generational change in the
international trade and financial systems".

 

"Our military and financial dominance cannot be taken for granted, and the
Trump administration is determined to preserve them". Miran claims the US
provides two major 'global public goods', both "costly to us to provide".

 

First, Miran claims US military spending provides the world a 'security
umbrella' that others should also pay for. Second, the US issues the dollar
and Treasury bonds, the main reserve assets for the liquidity of the
international monetary and financial system.

 

 

Miran seems blissfully unaware of longstanding complaints of US 'exorbitant
privilege'. The dollar's reserve currency status has provided seigniorage
income to the US while Treasury bond sales have long financed US debt at
very low cost.

 

Miran's case for Trump

 

The White House has threatened others with high tariffs unless they make
concessions, at their own expense, benefiting the US. Miran's defence of
tariffs is indirect, as part of an ostensible grand strategy.

 

"The President has been clear that the United States is committed to
remaining the reserve [currency] provider", Miran added. He claims US dollar
hegemony is "great" and denies "dollar dominance is a problem".

 

While this "has some side effects, which can be problematic", Miran "would
like to ... ameliorate the side effects, so that dollar dominance can
continue for decades, in perpetuity".

 

For Miran, these side effects are supposedly largely adverse while ignoring
the benefits to the US. Chronic US trade deficits have been possible and
financed by mounting US debt, enabling the dollar to serve as a global
reserve currency.

 

 

Hence, US trade deficits have been sustained since the 1960s, rather than
"unsustainable", as he alleges. US manufacturing has been "decimated" by its
consumers and transnational corporations, not by an extensive foreign
conspiracy.

 

Miran's Guide acknowledged the 'Triffin dilemma'. In 1960, Robert Triffin
warned that the dollar's status as global reserve currency posed problems
and risks for US monetary policy.

 

He invokes Triffin to argue that the US must import more than it exports to
provide liquidity to the world, which needs dollars for international trade
and to hold as reserves.

 

Miran adopts the Trumpian narrative of only blaming others. However, the US
expected to benefit from continuing trade surpluses at Bretton Woods. In
1944, it opposed alternative payments arrangements to deter excessive trade
surpluses.

 

US trade deficits have grown since the 1960s with post-World War II
reconstruction of the Global North and uneven 'late industrialisation' in
the Global South.

 

The empire must pay

 

The Trump administration wants to eat its cake and still have it. It intends
to strengthen US empire while minimising adverse side effects and costs.

 

Miran wants foreign nations to "pay their fair share" in five ways. First,
"countries should accept tariffs on their exports to the US without
retaliation". Tariffs provide revenue, which has financed its global public
goods provision. Second, they should buy "more US-made goods".

 

Third, they should "boost defense spending and procurement from the US".
Fourth, they should "invest in and install factories in America". Fifth,
they should "simply ... help us finance global public goods", i.e., foreign
aid should go to or via the US.

 

Miran then emphasises that Trump "will no longer stand for other nations
free-riding", and calls for "improved burden-sharing at the global level".

 

"If other nations want to benefit from the US geopolitical and financial
umbrella, then they need to ... pay their fair share", i.e., the world must
"bear the costs" of maintaining US empire.

 

Trump dilemmas 2.0

 

Trump wants to use tariffs to force countries with trade surpluses with the
US to buy more from the US. Ending these deficits would undermine dollar
hegemony, which, paradoxically, Trump obsessively wants to preserve.

 

Miran wants other countries to convert their US Treasury bills into 100-year
bonds at very low interest rates, effectively subsidising the US over the
long term. He also wants nations running trade surpluses with the US to buy
more long-term US Treasury securities.

 

Trump has threatened 100% tariffs on BRICS members and all countries
promoting de-dollarisation or undermining dollar hegemony in the
international monetary system.

 

During his first term, Trump wanted to do the near-impossible by boosting
exports while preserving a strong dollar!

 

Miran acknowledges that the "root of the economic imbalances lies in
persistent dollar overvaluation that prevents international trade
balancing". But he also insists that dollar "overvaluation is driven by
inelastic demand for reserve assets".

 

Trump now hopes to kill both US trade and fiscal deficit birds by cutting
imports and raising revenue with higher tariffs. He also wants the world to
continue using dollars despite the US budget and trade deficits and policy
uncertainties.

 

Meanwhile, official US debt, financed by selling Treasury bonds, continues
to grow. Trump has to deliver his promised tax cuts soon before his earlier
measures run out. Trump is falling foul of his bluster and may have to
revert to the status quo ante while denying it.

 

Despite Miran's best efforts, he cannot provide a coherent rationale for
Trump's rhetoric. But dismissing Trump as 'mad' or 'stupid' obscures the
impossible dilemma due to and obscured by post-war US dominance.

 

IPS UN Bureau

 

 

 

 

 

Kenya: Keep Construction Moving - Should Kenya Adopt Statutory Adjudication
for Construction Disputes?

As Kenya pursues ambitious infrastructure plans, we can't afford to overlook
how we handle disputes in the construction sector. Disagreements, especially
around payments and cash flow, remain the most significant reasons projects
slow down or stall entirely.

 

We all know construction plays a vital role in economic development. But
when disputes drag on, everyone loses, from contractors to clients,
investors, and ultimately, the public. Traditional methods like arbitration
or litigation can be expensive and take months, even years, to conclude.
They also tend to strain relationships and cause unnecessary risk in
projects where collaboration is key. We need a better way, and adjudication
might just be it.

 

 

Adjudication is a faster, more practical alternative. It's a process where a
neutral third party decides on the dispute after reviewing the facts from
both sides. This typically happens within a few weeks, allowing work to
continue with minimal disruption. It's already being used in parts of the
world to protect cash flow - the lifeblood of the construction industry.

 

In Kenya, adjudication is allowed, but only if the contract includes it.
That means each party must agree on whether and how they'll use it. While
this contract-based approach brings some flexibility, it also brings
problems. There's no standard process, no guaranteed access for smaller
players, and no legal teeth to enforce decisions. So, even when adjudication
is used, it may not offer the certainty or speed contractors need.

 

Yet, some construction contracts in Kenya do include adjudication. For
example, the international FIDIC contracts allow for dispute adjudication
boards whose decisions are binding unless taken to arbitration. Locally, the
Joint Building Council (JBCC) Green Book doesn't directly provide for
adjudication, relying instead on the project architect or arbitration.
Although both systems can be tailored, the lack of a clear legal framework
leaves too much to chance.

 

 

We can look to other countries for inspiration. In the UK, adjudication has
been written into law since 1996. Their system gives anyone involved in a
construction contract the right to take a dispute to adjudication at any
time, even if the contract doesn't allow it. The whole process is designed
to be quick: it starts within a week and is usually over in 28 days. Most
importantly, UK courts enforce the decisions, making the outcomes meaningful
and immediate. If needed, parties can still go to arbitration or court
later. It's a fair, balanced approach that's helped keep projects moving
while protecting everyone's interests.

 

Kenya could benefit from something similar. The Office of the Attorney
General has already taken a step in the right direction with the proposed
Sessional Paper No. 4 of 2024 on the National Alternative Dispute Resolution
Policy. As part of this, a Draft Construction Adjudication Bill has been
introduced. If passed, it would create a legal foundation for adjudication -
setting clear timelines and making sure decisions can be enforced just like
a High Court order. At the same time, the JBCC is considering updating the
Green Book to include adjudication before disputes go to arbitration.

 

Having a legal framework in place would level the playing field. It would
remove uncertainty, reduce the time and cost of resolving issues, and give
all contractors (big or small) access to quick and fair solutions. It would
also boost confidence among local and international investors, knowing
there's a reliable way to deal with challenges when they arise.

 

As Kenya's construction industry grows, it begs the question: Is it enough
to leave adjudication to private contracts, or is it time to make it part of
our legal system? A statutory approach could at least help ensure disputes
don't derail our development goals but resolve in a way that keeps progress
moving.

 

Odhiambo is a Partner in the Dispute Resolution practice at Cliffe Dekker
Hofmeyr (CDH) Kenya

 

Read the original article on Capital FM.

 

 

 

 

Ethiopia: Zone Harvests Over 42,000 Hectares Via Summer Wheat Irrigation

GINIR - East Bale Zone has successfully cultivated over 42,000 hectares of
farmland using summer wheat irrigation during this year's irrigation season,
marking a major step in Ethiopia's push toward wheat self-sufficiency and
export expansion.

 

In an exclusive interview with The Ethiopian Herald, East Bale Zone Deputy
Head Mohamed Ismael said the area, already recognized for its wheat
production, has significantly expanded its capacity by shifting from
rain-fed farming to irrigation-based agriculture.

 

"Previously, wheat production here relied solely on seasonal rains," Mohamed
explained. "But with the summer irrigation initiative, we have been able to
extend our growing season and boost productivity, even in the face of water
scarcity."

 

 

Despite being a lowland area with limited rainfall, East Bale Zone has
overcome environmental constraints by maximizing its available water
resources. Mohamed noted that the zone is actively using pumps, small-scale
irrigation systems, and traditional water management methods to expand its
irrigation coverage.

 

Thanks to these efforts, the zone has nearly completed the harvesting of its
summer wheat crop, achieving an average yield of 35 quintals per hectare.

 

The Deputy Head also emphasized the zone's growing role in supporting
Ethiopia's wheat export ambitions.

 

"Our productivity gains have not only strengthened local supply but also
made a notable contribution to national wheat exports in recent years," he
stated.

 

East Bale Zone is now among the states practicing cluster farming and
harvesting wheat three times a year, particularly in two high-performing
districts. This intensive farming cycle has dramatically increased output
and made the zone a model of agricultural innovation and resilience.

 

Looking ahead, Mohamed revealed that preparations are already underway for
the upcoming Meher planting season, with plans to cultivate over 190,000
hectares of land with wheat.

 

"In total, across the Meher, Belg, and irrigation seasons, we aim to harvest
wheat on about 300,000 hectares annually," he said, adding that the zone
remains committed to scaling up production through sustainable practices and
innovation.

 

The achievements in East Bale Zone underscore Ethiopia's broader vision of
agricultural transformation, showing how smart irrigation strategies can
unlock new levels of productivity--even in water-scarce regions.

 

BY DARGIE KAHSAY

 

THE ETHIOPIAN HERALD TUESDAY 22 APRIL 2025

 

 

 

 

 

Somalia's Finance Minister Holds Key Talks At IMF-World Bank Spring Meetings

Washington, Usa (Smn) — Somalia's Minister of Finance, Bihi Iman Egeh, held
a series of high-level meetings Monday in Washington on the sidelines of the
2025 Spring Meetings of the International Monetary Fund (IMF) and the World
Bank Group.

 

In talks with Zarau Wendeline Kibwe, Executive Director for the Africa Group
1 Constituency at the World Bank, Egeh discussed Somalia's economic reform
agenda, upcoming projects, central bank modernization, and efforts to
strengthen institutional capacity. He thanked Kibwe's office for its
continued support at the Bank's board level.

 

The minister also met with representatives from the African Legal Support
Facility, Global Sovereign Advisory, and Kepler-Karst to review legal and
policy approaches for managing Somalia's debt following recent relief
efforts. He underscored the value of expert support in enhancing debt
transparency and governance.

 

Egeh later conferred with Dr. Mohamed Maait, Executive Director for
Somalia's IMF constituency, and senior IMF officials. Their discussions
centered on Somalia's IMF Successor Program, domestic revenue mobilization,
tax system reforms, and improvements to public financial management.

 

The Somali government reiterated its commitment to deepening economic
reforms aimed at ensuring macroeconomic stability and sustainable
development.

 

Read the original article on Shabelle.

 

 

 

 

Kenya: President Ruto in China to Deepen Trade, Infrastructure and
Investment Ties

Nairobi — President William Ruto is in China for a five-day state visit
aimed at strengthening bilateral ties, deepening trade and investment
relations, and advancing infrastructure cooperation between Kenya and the
Asian powerhouse.

 

The President departed Nairobi on Monday night and is set to headline the
Kenya-China Business Forum, which brings together over 100 companies from
both countries. The forum is expected to focus on unlocking new trade
opportunities and enhancing Kenya's appeal as a destination for Chinese
investment.

 

Ruto is also scheduled to hold high-level bilateral talks with President Xi
Jinping, Premier Li Qiang, and National People's Congress Chairman Zhao
Leji. The discussions will centre on shared economic transformation,
sustainable development, and global cooperation.

 

 

"The visit builds on the Comprehensive Strategic Partnership established in
2017, with Kenya recognised as China's leading Belt and Road Initiative
(BRI) partner in Africa," said State House Spokesperson Hussein Mohamed in a
statement.

 

"Kenya has played a central role in advancing regional infrastructure and
connectivity, with flagship projects such as the Standard Gauge Railway and
the Nairobi Expressway significantly transforming its economic landscape."

 

As part of efforts to boost Kenya's exports, President Ruto will inaugurate
the Kenya Tea Holding Centre in Fujian Province. The facility is expected to
enhance the visibility and market access of Kenyan tea in Asia while
supporting smallholder farmers back home.

 

 

"Kenya and China will continue aligning high-quality BRI cooperation with
Kenya's national development priorities, focusing on building a robust
industrial and logistics hub for East Africa," Hussein added.

 

The visit comes amid shifting global geopolitical dynamics and signals a
renewed push to reshape the contours of Africa-China cooperation. Invited by
President Xi, the tour marks a deepening of strategic ties between the two
nations--a relationship rooted in decades of mutual benefit since the
establishment of diplomatic ties in 1963. Relations were briefly suspended
in 1967 but re-established in 1978.

 

Today, China stands as Kenya's largest trading partner, with engagements
expanding in scope and ambition over the years.

 

This is Ruto's third visit to China, the most recent being in September 2024
during the Belt and Road Initiative Forum. The BRI, launched by China in
2013, aims to promote global infrastructure development across more than 150
countries.

 

 

According to a brief from the Ministry of Foreign Affairs, discussions
during the visit will span infrastructure, healthcare, ICT, green energy,
manufacturing, and agriculture--all aligned with the Kenya Kwanza
administration's Bottom-up Economic Transformation Agenda (BETA).

 

A landmark outcome of the visit is expected to be the signing of a
Comprehensive Strategic Partnership Agreement between the two nations. The
pact will serve as a framework to strengthen bilateral projects, especially
under the BRI, and extend support to Kenya's Technical and Vocational
Education and Training (TVET) institutions, county hospitals, and major
infrastructure developments.

 

Key projects in the pipeline include the Rironi-Malaba Highway, the
completion of Standard Gauge Railway (SGR) phases 2B and 2C, and the Kenya
Digital Infrastructure Project. Cabinet approved the dualing of the
170-kilometre Rironi-Malaba Highway last month, with construction slated to
begin in June 2025.

 

Ruto's delegation includes several cabinet secretaries, among them Prime
Cabinet Secretary Musalia Mudavadi, underscoring Kenya's proactive approach
to deepening sectoral partnerships and attracting foreign investment.

 

The visit is also expected to unlock opportunities in agriculture, health,
education, the blue economy, environmental conservation, digital trade, and
the creative economy, especially for youth and women.

 

On the global stage, President Ruto is set to discuss the reform of the
international financial architecture to make it more fair, inclusive, and
predictable. Regional peace and security in the Horn of Africa and the Great
Lakes region will also feature in talks with Chinese leaders.

 

"We are confident that this visit will contribute to deepening China-Kenya
relations, implementing the outcomes of the Beijing Summit of the Forum on
China-Africa Cooperation, building an all-weather China-Africa community
with a shared future in the new era, and advancing unity and cooperation
within the Global South," said China's Foreign Ministry spokesperson Lin
Jian.

 

For Kenya, the visit offers a strategic platform to reinforce its economic
agenda and assert its leadership in shaping South-South cooperation for a
shared and sustainable future.

 

Read the original article on Capital FM.

 

 

 

 

 

Nigeria: After 40 Years, Minna Airport Commences Commercial Flights

For the first time since the Minna International Airport in Niger State was
constructed over four decades ago, formal commercial operations will begin
tomorrow.

 

The Niger State government has formally announced the commencement of
scheduled flight operations from the Bola Ahmed Tinubu International
Airport, Minna, as it is now named.

 

The government, through New Niger Aviation (NNA), a Special Purpose Vehicle
(SPV) created to manage and enhance the aviation ecosystem in Niger State,
entered into partnership with Overland Airways Limited to commence the
scheduled commercial flight operations.

 

 

NNA chief operating officer Alhaji Liman Katamba Kutigi said, "This launch
is more than an air route; it's a bridge to opportunity. By partnering with
Overland Airways, we are setting a new standard in regional air
connectivity, with safety, reliability, and economic impact at the centre."

 

He added it was the beginning of a broader agenda to transform Niger State
into a key player in Nigeria's aviation and logistics corridor.

 

"The journey to make Bola Ahmed Tinubu International Airport operational has
been long and deliberate, from infrastructure compliant with aviation
standards. We are proud to deliver a world-class airport that reflects Niger
State's potential and ambition. The governor's commitment has been
relentless, and this milestone is just the beginning," he stated.

 

In Minna, Overland Airways' chief executive officer (CEO), Captain Edward
Boyo, revealed that the flights would begin tomorrow, connecting Minna to
Abuja and Lagos, Nigeria's political and commercial capitals, respectively.

 

Read the original article on Leadership.

 

 

 

 

 

Nigeria: Army Dismantles 16 Illegal Oil Refining Sites, Arrests 23 Suspects
in N'delta

Port Harcourt — In their determination to sustain the operational successes
recorded against oil theft in the Niger Delta Region, troops of 6 Division,
Nigerian Army, have dismantled 16 illegal refining sites across the region.

 

The troops who made the achievements between April 14 to 20, this year, also
arrested 23 suspected oil thieves and associated criminals, as well as
recovered arms and ammunition.

 

In their operation with other sister agencies, the soldiers further
recovered over 62,000 and 5,000 litres of stolen crude and illegally refined
Automotive Gasoline Oil (AGO) from the suspects and their mounted illegal
bunkering sites in Niger Delta.

 

 

In a statement made available to journalists in Port Harcourt, the Acting
Deputy Director, 6 Division Army Public Relations, Lieutenant Colonel
Danjuma Jonah said that clearance operations conducted along the Imo River
led to the "dismantling of 6 artisanal refineries, 30 drum pots, 24 drum
receivers, 1,100 sacks filled with over 22,000 litres of stolen products
around Obuzor in Ukwa West LGA of Abia State and Okoloma in Oyigbo LGA of
Rivers State".

 

He disclosed that in Okrika Creek, following human intelligence, troops
recovered a wooden boat loaded with over 2,500 litres of stolen crude,
suspected to have been siphoned from Nigerian National Petroleum Corporation
Jetty in Okrika.

 

"In Kula general area, in Akuku-Toru LGA, troops positively identified and
arrested three buyers and three sellers of stolen products. The arrest of
these criminal merchants, further led to the interception of three tug boats
and one fibre boat loaded with over 1,500 litres of illegally refined AGO in
jerricans.

 

 

"At Obohia road to Obrikom waterside, in Ogba/Egbema/Ndoni LGA (ONELGA), one
wooden boat loaded with several sacks of stolen products was intercepted.
Seizures were also made at Okwuizi also in ONELGA as well as Okarki Forest
in Ahoada West LGA".

 

Danjuma revealed that in Bayelsa State, around Adibawa Oando Wellhead in
Yenagoa LGA, troops surged operations against the criminals, which led to
the deactivation of four illegal refining sites, confiscation of three large
concrete reinforced dug out pits filled with over 35,000 litres of stolen
crude from the Wellhead.

 

He said, additionally, over 2,500 litres of illegally refined AGO, with
Wellhead valve and pumping machines were also recovered at the site.

 

"These heinous crimes were perpetrated through the use of an 80 meters long
pipe connected to the Wellhead used for siphoning crude oil. Likewise, along
Gbarain - Zarama road, also in YELGA, various tricycles conveying stolen
products were intercepted. Two suspected oil thieves were apprehended in
connection to the seizures."

 

He added: "In Delta State, troops stormed a kidnappers' hideout, around
Rhobot City, Ibuzu road in Asaba and Iselle Azagba Community in Aniocha LGA.
In the operations that ensued, two suspected kidnappers were apprehended
with several dangerous weapons recovered.

 

"These included, two pump action riffles, one double barrel gun, one dane
gun and 56 cartridges. Others include 13 cutlasses, one military boot, one
camouflage headgear, one axe, a black bag, four fraternity berets, jacket
and a park containing four arrows and several charms."

 

Similarly, around Warri South general area, Danjuma explained that one
illegal refining site, three cooking pots, unspecified quantity of illegally
refined AGO and three drums filled with over 600 litres of stolen crude were
confiscated. He added that "In Akwa Ibom State, troops maintained dominance
in the operational landscape, effectively denying criminals freedom of
action".

 

Meanwhile, the General Officer Commanding, Nigerian Army, Major General
Emmanuel Emekah, has visited several troops locations in Bayelsa and Delta
States, where he interacted with troops and enjoined them to sustain the
operational tempo in the region.

 

Emekah also assured the troops that their welfare will continue to receive
the desired attention as they surge operations against economic saboteurs
and associated crimes in the region.

 

Read the original article on This Day.

 

 

 

 

Nigeria: Tinubu Returns to Abuja After Europe Trip

President Bola Tinubu, on Monday night returned to Abuja after over two
weeks working visit to Europe.

 

President Tinubu, whose aircraft touched down at the Presidential Wing of
the Nnamdi Azikiwe International Airport, Abuja, at 9:50pm, was received by
senior officials of his administration.

 

Recall that Tinubu departed Nigeria on Wednesday, April 2, and had spent
some time in Paris, the capital of France, before heading to London.

 

While in Europe, he maintained constant communication with key government
officials, overseeing critical national matters, including directives to
security chiefs to address emerging threats in some parts of the country.

 

 

While in Paris, President Tinubu held a high-level meeting with the United
States Department of State's Senior Advisor for Africa, Mr. Massad Boulos.

 

His discussions with the US official, it was gathered, focused on deepening
bilateral collaboration aimed at enhancing regional security and promoting
sustainable economic development across Africa.

 

A key aspect of the talks included joint efforts to advance lasting peace in
the eastern Democratic Republic of Congo (DRC), with emphasis on
multilateral cooperation and the role of regional stakeholders.

 

The meeting underscored Nigeria's ongoing engagement with international
partners in addressing complex security and development challenges across
Africa.

 

Among those who received the President on arrival were the Secretary to the
Government of the Federation, SGF, Senator George Akume; Chief of Staff to
the President, Rt. Hon. Femi Gbajabiamila; the National Security Adviser,
NSA, Mallam Nuhu Ribadu; Minister of Budget and Economic Planning, Atiku
Bagudu; and the Minister of the Federal Capital Territory, FCT, Nyesom Wike.

 

Vanguard News

 

Read the original article on Vanguard.

 

 

 

 

 

Africa: AU Preparing to Hold Conference to Address Current Debt Crisis in
Continent

Addis Ababa, — The African Union Commission (AUC) is set to host a three-day
Debt Conference in Togo from May 12-14 to shape sustainable financial
futures of the continent.

 

The continental conference, that will be held under the theme: "Africa's
Public Debt Management Agenda: Restoring and Safeguarding Debt
Sustainability, " is organized by African Union Commission's Department for
Economic Development, Tourism, Trade, Industry, and Minerals.

 

This conference will convene AU Member States, policymakers, financial
experts, and key stakeholders, including representatives from Ministries of
Finance, African Central Banks, Regional Economic Communities, African
Multilateral Financial Institutions, and Civil Society Organizations.

 

The Conference will focus on various key issues including facilitate
knowledge exchange and share cutting-edge practices in debt management in
African Union Member States.

 

Formulating a position on the needed reforms to the current global financial
architecture to address the current debt crisis on the continent is the
other critical objective of the conference.

 

The conference will also attempt to formulate innovative debt financing
mechanisms for securing new financing while maintaining debt sustainability
while exploring and recommending sound debt management practices needed to
restore and safeguard public debt sustainability in Africa.

 

 

 

 

 

US sets tariffs of up to 3,521% on South East Asia solar panels

Trina Solar is a China-based solar equipment manufacturer with operations
across South East Asia

The US Commerce Department has announced plans to impose tariffs of up to
3,521% on imports of solar panels from four South East Asian countries.

 

It comes after an investigation that began a year ago when several major
solar equipment producers asked the administration of then-President Joe
Biden to protect their US operations.

 

The proposed levies - targeting companies in Cambodia, Thailand, Malaysia
and Vietnam - are in response to allegations of subsidies from China and the
dumping of unfairly cheap products in the US market.

 

A separate US government agency, the International Trade Commission, is due
to reach a final decision on the new tariffs in June.

 

The countervailing and anti-dumping duties, as these tariffs are known, vary
between companies and the countries their products are made in.

 

Some solar equipment exporters in Cambodia face the highest duties of 3,521%
because of what was seen as a lack of cooperation with the Commerce
Department investigation.

 

Products made in Malaysia by Chinese manufacturer Jinko Solar faced some of
the lowest duties of just over 41%.

 

Another China-based firm, Trina Solar, faces tariffs of 375% for the
products it makes in Thailand.

 

Neither company immediately responded to requests for comment from BBC News.

 

China warns nations against 'appeasing' US in trade deals

Designed in US, made in China: Why Apple is stuck

In recent years, many Chinese firms have moved operations to South East Asia
in a bid to avoid tariffs imposed since the start of US President Donald
Trump's first term.

 

The US Commerce Department's findings were welcomed by the American Alliance
for Solar Manufacturing Trade Committee - a group of manufacturers that
called on the US government to launch the investigation.

 

"This is a decisive victory for American manufacturing and confirms what
we've long known: that Chinese-headquartered solar companies have been
cheating the system," said Tim Brightbill, lead counsel to the Alliance.

 

In 2023, America imported almost $12bn (£8.9bn) in solar equipment from the
four countries, according to US Census Bureau figures.

 

While the planned tariffs are likely to help US solar panel manufacturers,
they could also mean extra costs for businesses and consumers who have
benefited from the availability of cheaper solar products.

 

The levies would be imposed on top of other tariffs already rolled out by
the Trump administration.

 

The planned tariffs were announced just days after Chinese President Xi
Jinping completed a tour of Vietnam, Malaysia and Cambodia.

 

The trip was aimed to boost ties with the region and encourage those nations
to resist what he called "unilateral bullying" by the US.

 

Trump has so far imposed taxes of up to 145% on imports from China. Other
countries are now facing a blanket US tariff of 10% until July.

 

His administration said last week that when the new tariffs are added on to
existing ones, the levies on some Chinese goods could reach 245%.

 

China has hit back with a 125% tax on products from the US and vowed to
"fight to the end".

 

-bbc

 

 

 

 

 

Modi and Vance praise progress in trade talks as higher tariffs loom

India and the US are making progress in negotiating a bilateral trade deal,
the countries said after a meeting between Prime Minister Narendra Modi and
Vice-President JD Vance in Delhi.

 

Vance is currently on a four-day visit to India with his wife and three
children.

 

"We are committed to mutually beneficial cooperation, including in trade,
technology, defence, energy and people-to-people exchanges," Modi wrote on X
after the meeting on Monday night. He also hosted a dinner for Vance and his
family at his residence.

 

India is among a number of countries negotiating trade deals with the US
during President Donald Trump's 90-day pause on higher tariffs, which ends
on 9 July.

 

 

India was set to face 27% US tariffs before the pause was announced. Since
then, Delhi and Washington have been working towards an early conclusion of
trade negotiations.

 

Modi and Trump share a warm personal relationship - the Indian prime
minister was among the first global leaders to visit Trump after his second
term began. But the US president has repeatedly taken aim at India's high
tariffs, branding it a "tariff king" and a "big abuser" of trade ties.

 

Even in the statement issued on Monday after Vance's meeting, US Trade
Representative Jamieson Greer highlighted the "serious lack of reciprocity
in the trade relationship with India".

 

India has already cut tariffs on a number of goods in the past few months
and is reportedly considering more wide-ranging cuts to pacify Trump. But
sectors like agriculture - Washington wants greater access to it but India
fiercely protects it - are still sticking points.

 

Trump wants India to buy US corn - but here's why it probably won't

China warns nations against 'appeasing' US in trade deals

In addition to trade, the two leaders also discussed cooperation in defence,
strategic technologies and energy, Modi's office said.

 

The Indian prime minister also said that he was looking forward to welcoming
Trump to India this year. Delhi is hosting the Quad summit later this year
and the US president is expected to attend it.

 

The bilateral meeting was followed by delegation-level talks and the dinner
hosted by Modi.

 

Getty Images Vance's children play with peacock feathers as Indian Prime
Minister Narendra Modi meets Vice President of the United States, JD Vance
and his family at his residence Getty Images

Modi gave peacock feathers to Vance's children when they visited him

Vance arrived in India on Monday, accompanied by his wife Usha and their
three children. Usha Vance's parents migrated to the US from the southern
state of Andhra Pradesh, and some media reports have said that Vance and his
wife are keen to introduce their children to their Indian heritage.

 

Photographs of the three children wearing Indian-style outfits - the two
boys in kurta-pyjamas and three-year-old Mirabel wearing a lehenga - on
their arrival in India were splashed across Indian newspapers and websites.

 

The rest of Vance's visit is largely personal. After the meeting with Modi,
the family left for Jaipur city, where they visited the historic Amer Fort
on Tuesday. Vance is also expected to deliver a speech on US-India relations
in Jaipur.

 

The family is also set to visit the iconic Taj Mahal in Agra city on
Wednesday before flying to the US the next day.-bbc

 

 

 

 

US stocks and dollar plunge as Trump attacks Fed chair Powell

US stocks and the dollar plunged again as President Donald Trump intensified
his attacks on the US central bank boss calling him "a major loser" for not
lowering interest rates.

 

In a social media post, Trump called on Federal Reserve chair Jerome Powell
to cut interest rates "pre-emptively" to help boost the economy, saying
Powell had been consistently too slow to respond to economic developments.

 

"There can be a SLOWING of the economy unless Mr. Too Late, a major loser,
lowers interest rates, NOW," he wrote.

 

Trump's criticism of Powell's handling of the US economy comes as his own
plans for tariffs have driven a stock market sell-off and raised fears of
economic recession.

 

 

The president's intensifying clash with Powell, whom he named to lead the
Fed during his first term, has added to the market turmoil.

 

The S&P 500, which tracks 500 of the biggest US companies, fell roughly 2.4%
on Monday. It has lost roughly 12% of its value since the start of the year.

 

The Dow Jones Industrial Average dropped 2.4% and has dropped about 10% so
far this year, while the Nasdaq fell more than 2.5% and is down roughly 18%
since January.

 

However, on Tuesday, trading on most major stock indexes in the Asia-Pacific
region was subdued. Japan's Nikkei 225 closed around 0.1% lower, and the ASX
200 in Sydney closed around 0.3% lower. Hong Kong's Hang Seng closed about
0.3% higher.

 

In European early trading, the UK's FTSE 100 stock exchange was marginally
lower by about 0.05%, while Germany's Dax was down around 0.5% and France's
CAC was down 0.6%.

 

Though the US dollar and US government bonds are typically considered safe
assets in times of market turmoil, they have not escaped the recent
turbulence.

 

The dollar index - which measures the strength of the dollar against a set
of currencies including the euro - on Monday fell to its lowest level since
2022.

 

Interest rates on US government debt also continued to rise on Tuesday, as
investors demanded higher returns for holding Treasuries.

 

Meanwhile, the price of gold hit a new all-time record high, breaking the
$3,500 (£2,613) per ounce mark as investors seek out so-called "safe haven"
assets.

 

The precious metal is viewed as a safer place to put money during times of
economic uncertainty.

 

 

Trump's criticism of Powell dates back to his first term in office, when he
also reportedly discussed firing him. Since winning the election, he has
urged Powell to lower borrowing costs.

 

The latest criticism follows Powell's warnings that Trump's import taxes
were likely to drive up prices and slow the economy.

 

Trump last week called publicly for Powell to be fired, writing on social
media on Thursday: "Powell's termination cannot come fast enough."

 

Such a move would be controversial - and legally questionable - given a
tradition of independence at the bank.

 

Powell last year told reporters he did not believe the president had the
legal authority to remove him.

 

But one of Trump's top economic advisers confirmed that officials were
studying the option on Friday, when the stock market in the US was closed
for trading.

 

'When the US sneezed, the world caught a cold'

Trump's latest comments come as top economic policymakers are gathering in
Washington for the spring meetings of the International Monetary Fund (IMF)
and World Bank.

 

Christopher Meissner, a professor of economics at University of California,
Davis, and who formerly worked with the IMF, told the BBC's Today programme
that before the 1970s there was "significant" political pressure on the
Federal Reserve from time to time.

 

"However, the past 30 or 40 years what we've learned is that central bank
independence is the key to financial stability and low inflation. And I
think this is a major reversal and we have to watch out for it," he added.

 

The IMF will publish its latest growth forecasts for individual countries
later, and last week it said these projections would include "notable
markdowns".

 

Mr Meissner said: "They used to say 'When the US sneezed, the rest of the
world caught a cold'. It'll be really curious to see if that continues.

 

"However, I think people are expecting a pretty significant downturn in the
US in the coming months... and that can't be good for the rest of the
world."-BBC

 

 

 

 

 

 

 

US FTC sues Uber, alleging deceptive subscription practices

The US Federal Trade Commission has filed a lawsuit against Uber, alleging
the ride hailing and delivery company engaged in deceptive billing and
cancellation practices.

 

The consumer protection watchdog accused Uber of charging customers for its
Uber One subscription service without getting their consent and making it
hard for users to cancel.

 

"The Trump-Vance FTC is fighting back on behalf of the American people," FTC
Chairman Andrew Ferguson, a Trump appointee, said in a statement.

 

An Uber spokesperson denied the allegations, and it was "disappointed" that
the FTC chose to move forward with the lawsuit.

 

 

Launched in 2021, the Uber One subscription service promises users perks
including no-fee delivery and discounts on some rides and orders. The
service can be purchased for $9.99 a month or $96 a year.

 

In its complaint filed on Monday, the FTC said that Uber has made suspending
subscriptions "extremely difficult" for consumers, who can be subjected to
navigating as many as 23 screens and taking up to 32 actions if they try to
cancel.

 

In a point-by-point response, Uber disputed that allegation.

 

"[C]ancellations can now be done anytime in-app and take most people 20
seconds or less," Uber spokesman Ryan Thornton said in a statement.

 

Uber probed by US regulator over subscription plan

Uber said that previously, to cancel, the consumer had to contact support
within 48 hours of their next billing period but said that is no longer the
case and customers can cancel at any time.

 

The FTC also alleges that many consumers said they were enrolled in Uber One
without giving their consent. The complaint cites one consumer who claimed
they were charged despite not having an Uber account.

 

Uber said in its response that it "does not sign up or charge consumers
without their consent."

 

The legal action against Uber marks the FTC's first lawsuit filed against a
major US tech company since President Donald Trump took office for his
second term in January.

 

The agency's case against Meta - initiated during the first Trump
administration - is now in its second week on trial.

 

The FTC alleges the company, which was previously known as Facebook, secured
a social media monopoly with its acquisitions of photosharing app Instagram
in 2012 and messaging service WhatsApp in 2014.

 

Meta has said the lawsuit from the FTC, which reviewed and approved those
acquisitions, is "misguided."BBC

 

 

 

 

 

 

 

China warns nations against 'appeasing' US in trade deals

China has warned it will hit back at countries that make deals with the US
that hurt Beijing's interests, as the trade war between the world's two
biggest economies threatens to drag in other nations.

 

The comments come after reports that the US plans to pressure governments to
restrict trade with China in exchange for exemptions to US tariffs.

 

The Trump administration has started talks with trading partners over
tariffs, with a Japanese delegation visiting Washington last week and South
Korea is set to start negotiations this week.

 

Since returning to the White House in January, Trump has imposed hefty taxes
on Chinese imports, while other countries have also been hit with levies on
their goods.

 

 

"Appeasement cannot bring peace, and compromise cannot earn one respect," a
Chinese Commerce Ministry spokesperson said.

 

"China firmly opposes any party reaching a deal at the expense of China's
interests. If this happens, China will never accept it and will resolutely
take countermeasures".

 

The remarks echoed an editorial last week in the state-controlled China
Daily, which warned the European Union against trying to "appease" the US.

 

The comments came after reports that the US plans to use tariff negotiations
to pressure dozens of countries into imposing new barriers on trade with
China.

 

The BBC has asked the US Treasury Department and the US Trade Representative
for responses to the reports.

 

Trump has said more than 70 countries have reached out to start negotiations
since the tariffs were announced.-BBC

 

 

 

 

 

 

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

Cellphone:         +263 71 944 1674 | +27 79 993 5557 

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INVESTORS DIARY 2025

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy or
subscribe for any securities. The information contained in this report has
been compiled from s believed to be reliable, but no representation or
warranty is made or guarantee given as to its accuracy or completeness. All
opinions expressed and recommendations made are subject to change without
notice. Securities or financial instruments mentioned herein may not be
suitable for all investors. Securities of emerging and mid-size growth
companies typically involve a higher degree of risk and more volatility than
the securities of more established companies. Neither Faith Capital nor any
other member of Bulls ‘n Bears nor any other person, accepts any liability
whatsoever for any loss howsoever arising from any use of this report or its
contents or otherwise arising in connection therewith. Recipients of this
report shall be solely responsible for making their own independent
investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and d from third parties.

 


 

 


 (c) 2025 Web:  <http://www.bullszimbabwe.com> www.bullszimbabwe.com Email:
<mailto:bulls at bullszimbabwe.com> bulls at bullszimbabwe.com Tel: +27 79 993
5557 | +263 71 944 1674

 


 

 

 

 

 

 

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