Major International Business Headlines Brief::: 05 April 2021

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Major International Business Headlines Brief::: 05 April 2021

 


 

 


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ü  LG scraps its smartphone business as losses mount

ü  Boohoo: Karen Millen skirt had Oasis label covered in pen

ü  Covid: Trials to begin for return of England mass events

ü  Amazon apologises for wrongly denying drivers need to urinate in bottles

ü  Covid 19: Pakistan among new countries added to England's travel ban list

ü  US jobs creation surges in March as recovery gains steam

ü  How Instagram’s influencers changed the model industry

ü  Google rejigs remote working as it reopens offices

ü  Rwanda: Why Agriculture Lags Behind in Strategic Plan Targets

ü  Nigeria's Economy Bleeds As Govt Fails to Implement Port Automation

ü  Nigeria: Kaduna to Build a Light Rail System, Seeks NITTs Support

ü  Kenya: Nepotism, a Deadly Cancer That's Slowly Killing the Kenyan Dream

ü  Well-reputed Bitcoin Exchanges in South Africa

ü  Samsung Q1 profit likely surged 45% on bumper smartphone, appliance sales

ü  Biden will push through infrastructure plan if no Republican support
-energy secretary says

 

 

 

 


 <https://www.facebook.com/Hyundaizimbabwe/> 

 


 

LG scraps its smartphone business as losses mount

LG Electronics said on Monday it would close down its loss-making smartphone
business.

 

In January, the South Korean electronics giant said it was looking at all
options for the division after almost six years of losses totalling around
$4.5bn (£3.3bn).

 

LG had made many innovations including ultra-wide angle cameras, rising to
third largest smartphone maker in 2013.

 

But bosses said the mobile phone market had become "incredibly competitive".

 

While Samsung and Apple are the two biggest players in the smartphone
market, LG has suffered from its own hardware and software issues.

 

As LG struggled with losses it had held talks to sell part of the business
but these fell through.

 

It still ranks as the third most popular brand in North America but has
slipped in other markets. LG phones are still fairly common in its domestic
South Korean market.

 

"LG's strategic decision to exit the incredibly competitive mobile phone
sector will enable the company to focus resources in growth areas such as
electric vehicle components, connected devices, smart homes, robotics and
artificial intelligence," it said in a statement.

 

Last year it shipped 28 million phones, which compares with 256 million for
Samsung, according to research firm Counterpoint.

 

The smartphone business is the smallest of LG's five divisions, accounting
for just 7.4% of revenue. Currently its global mobile phone market share is
about 2%.

 

It has been innovating its phones to compete with its bigger rivals, with
last year's launch of the T-shaped Wing, a smartphone with a larger screen
which swivels out to reveal a second, smaller one underneath.

 

Electric cars and TVs

LG still has a strong consumer electronics business, particularly with home
appliances and televisions. LG is the world's second best-selling TV brand
after Samsung.

 

In December it launched a joint venture with automotive supplier Magna
International that will make key components for electric cars.

 

LG's phone inventory will continue to be available for sale, and it will
still provide service support and software updates for existing customers.
The divisions is expected to be wound down by the end of July.

 

"Moving forward, LG will continue to leverage its mobile expertise and
develop mobility-related technologies such as 6G to help further strengthen
competitiveness in other business areas," a spokesman added.

 

Analysts said South Korean rival Samsung and Chinese companies such as Oppo,
Vivo and Xiaomi are likely to benefit the most from LG's exit.

 

Smartphone makers struggled during the pandemic with sales down about 10% in
2020 mainly due to lockdowns limiting store openings.--BBC

 

 

 

Boohoo: Karen Millen skirt had Oasis label covered in pen

A woman who bought a skirt from Karen Millen said she "felt lied to" as it
had an Oasis label covered with pen.

 

Joanna Sikora got in touch with the BBC after we revealed that Boohoo-owned
brands had sold the same clothes at different prices.

 

Boohoo said it was investigating how this had happened and the
"miscommunication was not intentional".

 

But a company insider told the BBC "it happens all the time". Boohoo is yet
to respond to these claims.

 

Miss Sikora sent the company photographs of the altered labels and she
received a refund.

 

The 39-year-old from Winchester said she used to like treating herself to
clothes from Karen Millen, particularly for special occasions.

 

But when the skirt arrived she remembered thinking, "For Karen Millen,
that's quite poor quality," and started to examine it.

 

"The labels had been cut and blacked out with marker pen, but I could
clearly see that the brand was actually Oasis," she said.

 

What's more, the skirt was being sold by Karen Millen for £42 while the same
garment was priced at £30 on Oasis' website, she said.

 

"The thing is, I don't mind clothes from Oasis at all. If I go to Primark, I
am happy to wear clothes with a Primark label," said Ms Sikora

 

"What was really disappointing was that I felt lied to," she said. "They
didn't even try very hard to hide what they had done and thought consumers
would be stupid enough not to realise.

 

"Prior to Karen Millen being owned by Boohoo, I trusted them. I would
purposely shop there because I liked the designs, the quality and the fit.
But I will never shop with Karen Millen again now."

 

Boohoo acquired the online business of the Karen Millen brand along with
Coast in August 2019. Ms Sikora said she bought her skirt in June 2020.

 

Ms Sikora's is another example of how Boohoo - which owns both Karen Millen
and Oasis, among many other fashion brands - sells the same pieces of
clothing for different prices across its business.

 

The BBC discovered the same coat being sold by Dorothy Perkins for £55, but
at Coast it was priced at £89, despite both companies being owned by Boohoo.

 

It appears to be a wider practice, with identical garments appearing on
websites for Warehouse and Oasis, but at different prices.

 

Boohoo said last week that the "miscommunication was not intentional" and
all of its brands - which also include Dorothy Perkins, Coast, Oasis and
Warehouse - "work independently".

 

Boohoo, an online-only retailer, has thrived during the pandemic as large
swathes of the High Street have been forced to shut to stop the spread of
Covid.

 

In the first 10 months of its current financial year, Boohoo sales rose 42%
to £1.2bn and it has continued to expand its business.

 

Most recently, it bought Dorothy Perkins, Wallis and Burton from Arcadia,
which fell into administration earlier this year.

 

The deal included the brands and online businesses, but not the 214 shops
nor 2,450 workers employed in them.

 

The industry insider explained that Boohoo needed to sell the huge amounts
of stock sitting in the High Street stores that had shut as part of this buy
out. So the items were rebranded and sold across a number of the websites it
owned.

 

She said aside from this, Boohoo also operated "group buys", in which it
placed bulk orders for a product and sold them across different brands at
different prices.

 

"If a style does not sell on one brand, they will change the stock to
another brand, to see if it sells better," she said.

 

"Boohoo don't make a secret of it, it's part of their business model.

 

"If they just said, 'Yeah we do it and it's to standardise the cost,' I
think people might get it."

 

The BBC had asked Boohoo why Dorothy Perkins branding appeared to have been
cut from the care label in the same coat sold by Coast for £34 more.

 

Boohoo said: "Stock of the item in question was purchased and live on site
by Coast prior to the Boohoo Group's acquisition of the Dorothy Perkins
brand."

 

But the insider said: "The coat you bought [from Coast] would have been
originally made for Dorothy Perkins and included in the buyout.

 

"They have then changed the brand label and altered the care label as you
found, to spread the stock over all the brands.

 

"This would not have been sold on Coast before the Dorothy Perkins buyout
like they said. That's not the standard label we use for Coast clothing.

 

"The layout is different. Normally the brand name is at the top, but here it
was at the bottom where Dorothy Perkins have theirs and they've obviously
cut that off."

 

On Friday, the BBC put the insider's claims to Boohoo, along with Ms
Sikora's story, but the company is yet to respond.--BBC

 

 

 

Covid: Trials to begin for return of England mass events

The government is to trial a series of measures in England, including Covid
passports, to allow the safe return of sports matches, events and
nightclubs.

 

Passes would show if a person had been vaccinated, had a recent negative
test, or natural immunity.

 

Trial events in the coming months will also explore how ventilation and
testing before and after could help crowds return.

 

Any use of passes would be "time-limited", the sports minister has said.

 

The pilots, which will include the FA Cup final, will last until mid-May,
and some of the listed events will not be trialling vaccination
certification, including those taking place in Liverpool.

 

Sports Minister Nigel Huddleston described the trials as a "learning
experience", saying no decisions had yet been made on processes or
vaccination certificates.

 

He said the earlier pilots "almost certainly won't involve any element of
certification", and that the government would also be looking at mitigations
such as one-way systems and hygiene measures.

 

Mr Huddleston said the PM would receive a report on the trials at the end of
May, and suggested further events could be added later in the year.

 

The plans come as the UK reported another 2,297 cases and 10 deaths within
28 days of a positive test - although Wales and Northern Ireland were not
reporting data.

 

More than 31.5 million people have received a first dose of the vaccine, and
nearly 5.4m have received both jabs, according to the latest government
figures. All adults are due to be offered vaccination by the end of July,
the government has said.

 

Meanwhile, Downing Street has confirmed countries will be in a risk-based
"traffic light" system when foreign holidays resume.

 

The pilots will include the FA Cup semi final and final in London's Wembley
Stadium, the World Snooker Championship in Sheffield, a mass participation
run at Hatfield House in Hertfordshire, and several events in Liverpool
including an evening at a nightclub, a business conference and a cinema
screening in the city.

 

The FA Cup final will be using certification.

 

The first pilot event will be a comedy night in Liverpool on 16 April where
audience members will be tested for Covid before and after the show.

 

The University of Liverpool's Prof Iain Buchan, who will be helping run the
city's trials, told BBC Breakfast taking part would involve giving consent
when booking a ticket, receiving text messages about Covid safety,
minimising your contacts before the event, and getting tested as close to
the event as possible.

 

Prof Buchan added that people would be told not to attend if they developed
any symptoms and the events would be held in well-ventilated places.

 

After the event, people would be asked to minimise their contacts and get
another test five days later, for the purposes of research, he said.

 

Dates have been set for pilots that might determine how we get back into big
events - although it was a slightly confused picture earlier in terms of
exactly which venues would be trialling what.

 

The details, it seems, are still being ironed out. Notable by its absence
from the plans, for now, is any mention of pubs.

 

The freedom to head to your local for a pint had become something of a focal
point over fears of a "checkpoint society".

 

Not long ago, Boris Johnson suggested it could be up to individual landlords
on whether they wanted to ask for proof of someone's Covid status.

 

Regardless of whether that idea's quietly on the backburner or gone for
good, there's still doubt in the Tory ranks.

 

One MP tells me they still have plenty of reservations, although they could
possibly get their head around temporary plans for larger events only.
Another says they remain firmly against any kind of domestic certification.

 

The government, however, has given itself a bit of time to chew everything
over - whether that means the results of the pilots or the political mood.

 

News of the trials, particularly Liverpool's nightclub pilot, was welcomed
by industry body the Night Time Industries Association.

 

But NTIA chief executive Michael Kill called for further trials across a
wider scope of businesses in the sector, expressing concern "that this will
only give an acute view of the challenges faced within such unique
environments where one size does not fit all".

 

'Covid-status certification'

The NHS is said to be working on a system to allow people to demonstrate
their status through an app or paper certificate.

 

The government said it was also working with clinical and ethical experts on
exemptions for people for whom vaccination is not advised and repeat testing
would be difficult.

 

No 10 said it did not want the scheme, which it is describing as
"Covid-status certification", to be used on public transport or in essential
shops.

 

Businesses in England which can reopen in the coming weeks, including pubs,
restaurants and non-essential retail will not have to use the system for
now.

 

However, sources say requiring a certificate to access hospitality further
down the line - perhaps to reduce the need for social distancing - has not
been ruled out.

 

Prime Minister Boris Johnson said the government was doing everything it
could to ensure people could return to events and travel "as safely as
possible".

 

Cabinet Office Minister Michael Gove, who is leading the review into the use
of Covid passports, has called certification for international travel an
"inevitability".

 

Writing in the Sunday Telegraph, he also said it could also be a "valuable
aid" in reopening parts of the domestic economy faster.

 

However, critics, including more than 40 Tory MPs and privacy campaigners,
have suggested a Covid passport scheme could be "discriminatory and
counterproductive".

 

Former Labour leader Jeremy Corbyn, who now sits as an independent, and
senior Tory Iain Duncan Smith are among a broad coalition of MPs who have
pledged their opposition.

 

Their concerns have been echoed by leading scientists, including infectious
diseases expert Dr Mike Tildesley, who said he was "very much against the
idea of domestic travel passports at the moment" when many people have not
been offered the vaccine and uptake was inconsistent among communities.

 

He told BBC Breakfast he recognised the need for security so that mass
events could resume but said we need "a fair system that isn't
discriminating against certain members of society".

 

Prof Melinda Mills, director of the Leverhulme Centre for Demographic
Science at the University of Oxford, also appeared on the programme, and
said there were "still a lot of open questions" about the scheme.

 

They included practical questions and ethical ones, she said, such as: "Do I
have to pay for the testing if I haven't been vaccinated or had that
opportunity?"

 

The sociologist acknowledged the scheme could work as an incentive for
people to get vaccinated, but added that it could also inspire forgery if
paper documents are used.

 

While the proposed plans cover England only, the government is discussing
the scheme with Scotland, Wales and Northern Ireland.

 

Under the government's plan to ease England's lockdown, legal limits on
social contact could be lifted by 21 June, if strict conditions are met.

 

The government said its risk-based traffic-light system for international
travel would "help ensure the UK's vaccine progress isn't jeopardised and
provide clear guidance for travellers".

 

International leisure travel will not be allowed until 17 May at the
earliest.

 

After this point, travellers from countries in the green category will not
have to isolate, although pre-departure and post-arrival tests will still be
needed.

 

For countries assigned red and amber, restrictions would remain as they are
now, with arrivals required to enter quarantine or self-isolation.

 

The list of countries included in each category will be drawn up closer to
the time, and the government continues to advise people not to book summer
holidays abroad.

 

Further detail on international travel will be provided on Monday, along
with information about a review into social distancing - which is examining
how and when distancing requirements and the working from home guidance
could be lifted, and whether Covid certification could facilitate changes to
the rules.--BBC

 

 

 

Amazon apologises for wrongly denying drivers need to urinate in bottles

Amazon has apologised to a US politician for falsely denying that drivers
are, at times, forced to urinate in plastic bottles.

 

Mark Pocan, a Democrat from Wisconsin, referenced Amazon making "workers
urinate in water bottles" in a tweet.

 

The official Amazon Twitter account then replied: "If that were true, nobody
would work for us."

 

The company has now apologised after evidence emerged of drivers having to
urinate in bottles.

 

"We owe an apology to Representative Pocan," Amazon said in a statement.

 

"The tweet was incorrect. It did not contemplate our large driver population
and instead wrongly focused only on our fulfilment centres."

 

It added that its fulfilment centres all have dozens of toilets that
employees can use "at any time".

 

Mr Pocan had criticised Amazon for opposing efforts by workers to unionise a
major facility in Alabama.

 

"Paying workers $15/hr doesn't make you a 'progressive workplace' when you
union-bust & make workers urinate in water bottles," he wrote last week.

 

Shortly afterwards, Amazon's official account responded: "You don't really
believe the peeing in bottles thing, do you? If that were true, nobody would
work for us."

 

Several news outlets then quoted numerous Amazon employees who confirmed
that they had been left with little option but to urinate in plastic bottles
while working. They also described relentless working practices, both in its
fulfilment centres and as delivery drivers.

 

The Intercept also said it had obtained internal documents suggesting that
Amazon executives were aware of this happening.

 

Amazon's retraction added: "We know that drivers can and do have trouble
finding restrooms because of traffic or sometimes rural routes, and this has
been especially the case during Covid when many public restrooms have been
closed."

 

It said the problem was "a long-standing, industry-wide issue" and said that
they "would like to solve it".

 

Mr Pocan rejected the apology on Saturday, tweeting: "Sigh. This is not
about me, this is about your workers - who you don't treat with enough
respect or dignity. Start by acknowledging the inadequate working conditions
you've created for ALL your workers, then fix that for everyone and finally,
let them unionise without interference."

 

Amazon workers in Bessemer, Alabama, voted in a historic poll last week to
decide whether they want to be represented by the Retail, Wholesale and
Department Store Union. The effort has been strongly opposed by Amazon.

 

The results are not expected until next week. If they vote yes, it will
become Amazon's first US union.

 

Amazon has successfully fought off union efforts elsewhere in the US.
However, most of its European facilities are unionised.--BBC

 

 

 

Covid 19: Pakistan among new countries added to England's travel ban list

Travel from the Philippines, Pakistan, Kenya and Bangladesh is to be banned
from next week, the government says.

 

They are being added to England's "red list" amid concerns about the spread
of new Covid-19 variants.

 

>From 04:00 on 9 April, international visitors who have travelled from or
through those countries in the previous 10 days will be refused entry.

 

An exception is made for British or Irish passport holders, or people with
UK residence rights.

 

But they must first pay to quarantine in a government-approved hotel for 10
days.

 

During their stay, passengers will have to take two coronavirus tests - but
a negative test result does not mean they can shorten their time in
quarantine.

 

Neither will they be able to end it early through the Test to Release
scheme, where travellers from non-red list countries can leave home
isolation after a negative test on day five.

 

The Department for Transport (DfT) said information about exemptions for
nurses arriving from the Philippines "who are critical to supporting the NHS
during Covid and the recovery" would be set out before Friday.

 

Which countries are on the red list and what are the rules?

How many cases are there worldwide?

Travel bans are intended to reduce the risk from new coronavirus variants
like the South Africa strain, the Department for Transport (DfT) said. They
are based on advice from the Joint Biosecurity Centre.

 

Data has shown that most cases of the South Africa coronavirus variant found
in the UK so far have been linked to international travel, with very few
having come from Europe, said the DfT.

 

No direct flight bans from the four countries will be put in place, but
passengers are advised to check their travel plans before departing for
England.

 

Simon Calder, travel editor at the Independent, said the government has
"plenty of evidence that there's a risk from new variants of concern coming
in from these countries" and is alarmed about numbers.

 

But he said the changes could cause a "great deal of problems" for many in
the UK whose family live in the four affected countries as they now have
less than a week to get home if they are overseas.

 

He said "bookings are soaring" ahead of next Friday.

 

Meanwhile, Labour shadow minister Naz Shah questioned why the government has
not also put countries such as France and Germany on the red list, amid a
third wave in Europe.

 

Under the current rules, foreign travel from the UK is banned apart from for
exceptional reasons.

 

The earliest date people from England will be able to travel abroad for a
holiday is 17 May, when the government hopes to move to step three of its
lockdown exit plan.--BBC

 

 

 

US jobs creation surges in March as recovery gains steam

The US economy saw a surge in hiring in March as vaccination increased,
officials eased restrictions and people pushed to return to their
pre-pandemic activities.

 

Employers added more than 900,000 jobs driven by re-openings at restaurants,
bars, construction sites and schools.

 

The gains were the biggest since August and helped lower the unemployment
rate to 6% from 6.2% in February.

 

However, overall employment remains far lower than before the Covid
pandemic.

 

Speaking on Friday, US President Joe Biden said people must remain vigilant
when it comes to taking precautions against coronavirus. He said that
millions have not yet been vaccinated and that many parts of the economy hit
by closures remain weak.

 

"I plead with you, don't give back the progress we've all fought so hard to
achieve," Mr Biden said. "We need to finish this job. We need every American
to buckle down and keep their guard up."

 

"That's how we're going to beat the virus and cast off the weight of the
pandemic that's holding our economy back."

 

The US lost more than 20 million jobs last spring as the virus led to
widespread lockdowns. It has regained more than half, but the number of jobs
is still more than 8 million down from February 2020, the US Labor
Department said.

 

In response to the crisis, Washington has approved trillions of dollars in
recovery aid, including a $1.9tn (£1.4tn) package last month that contained
$1,400 stimulus cheques for many Americans, extended unemployment benefits,
and funded the re-opening of schools.

 

Analysts are expecting a strong rebound later this year, as families emerge
from lockdowns with pent-up demand and, in many cases, savings put away
during the pandemic.

 

Estimates suggest the growth rate in 2021 could hit 6% or higher. US
Treasury Secretary Janet Yellen has said she is hopeful that near full
employment could return next year.

 

'Real light at the end of the tunnel'

"The better than expected 916,000 rebound in non-farm payrolls in March
still leaves employment 8.4 million below its pre-pandemic peak from just
over a year ago, but with the vaccination program likely to reach critical
mass within the next couple of months and the next round of fiscal stimulus
providing a big boost, there is finally real light at the end of the
tunnel," said Paul Ashworth, chief US economist at Capital Economics.

 

The jobs report showed nearly every sector in the economy adding positions
in March.

 

More people entered the labour force, encouraged by the signs of rebound,
and jobless rates fell for most groups.

 

Officials also said employers added 156,000 more jobs in January and
February than previous estimated.

 

US economic decline not as bad as feared

'There's no recovery without raising the minimum wage'

"The broader re-opening of the economy, growing optimism that the end of the
pandemic is in sight and a reversal of last month's unseasonably cold
weather generated broad gains in hiring," Wells Fargo economist Sarah House
said.

 

"While there is still a lot of ground to make up, the labour market is on
track for a relatively quick recovery," she added.--BBC

 

 

 

How Instagram’s influencers changed the model industry

Alexina Graham has been a successful fashion model for more than a decade -
appearing in glossy magazines and walking the coveted Victoria’s Secret
catwalk.

 

But when the coronavirus pandemic hit, her work stopped.

 

“I didn’t work at all in March and April,” she told BBC News.

 

Over the past year, models have been asked to create their own content -
shooting photos and promoting brands on personal social-media accounts.

 

“Social media is one of the main aspects of our job now,” Ms Graham said.

 

“To shoot content every week, edit it all together and get it out there
takes a long time.”

 

 

L’Oréal’s brand ambassador, actress Eva Longoria, even filmed herself dying
her own hair in lockdown.

 

“It was a first for us to shoot a campaign with one of our spokesmodels in
this way,” Lex Bradshaw-Zanger, chief marketing officer at L’Oréal UK and
Ireland, said.

 

“The advert has been used across digital, social and television and has been
received very positively – with salons shut, Eva’s experience with home hair
colouring was something many people could relate to.”

 

 

The beauty brand has long used influencers - but since the pandemic, it has
invested even more of its budget into influencer marketing.

 

A survey by influencer marketing agency Takumi suggests 73% of brands have
done the same.

 

'Freaking out'

And modelling agencies told BBC News they had been flooded with requests for
models who could shoot their own content.

 

“Production just stopped when the pandemic hit," Evolve Model Management
director Elizabeth Rose said, "and all these brands were freaking out about
how to get all of these clothes online - they still needed to sell clothes.

 

“Regular models weren’t able to produce content that was good enough for the
brands, so a lot of brands switched to influencers.”

 

And now, some High Street fashion brands have told Evolve they plan to make
home shooting a permanent feature.

 

 

When Nathan Hopkinson noticed his bookings falling last year, he invested
the extra time spent at home into boosting his social-media presence.

 

“I saw it as an opportunity to put my all into my social platforms,” he
said.

 

“I started posting on TikTok regularly - and the rewards have been immense.”

 

Since March last year, he has gained more than 270,000 followers on TikTok
and 130,000 on Instagram.

 

“I’ve had way more interest from high-end clients,” he added.

 

'Less polished'

Authenticity is at the core of this trend, as influencers attract followers
who feel connected to the person, rather than the brand.

 

“Brands enjoy the direct and highly engaged relationship I have with my
audience,” Shu Lin, a travel vlogger who has seen an increase in interest
from fashion brands during the pandemic, said.

 

“With the rise of users on social platforms, as both a creator and consumer,
we're wanting to see content that's less polished and more reflective of the
everyday experience.

 

“It's great to see the fashion industry embrace diversity more in the
marketing of their products as it's more representative of consumers in real
life.”

 

Influencers also give brands more value for money, according to Victoria
Magrath, a blogger with more than one million Instagram followers, who has
worked for luxury designer brands, including Dior, Armani and Tiffany & Co.

 

“Influencers can provide fresh and unique content, without the hassle of
organised a shoot with upwards of five crew members, hiring a location and
hiring a model,” she said.

 

Being able to style themselves, take and edit photographs meant “the costs
are significantly lower”, while well created content could “rival magazine
editorials” and deliver more accurate results than print advertising.

 

“Instagram insights, or blog analytics, for example, can pinpoint how many
people were on a particular page, for how long, what they clicked on and
where they navigated to next,” Ms Magrath added.

 

 

Technology platform Launchmetrics specialises in analysing data from social
media to provide detailed research on return on investment(ROI) for luxury
brands.

 

Every day, it monitors 20,000 brands, 50,000 media outlets and 100,000
influencers to calculate the value of a social-media post.

 

And it estimates:

 

a single post from model and influencer Gigi Hadid is worth $1.2m (£0.9m),
compared with $20,000 in traditional models

the average value of a post including luxury brand Versace is $7,000

“This shift caused by social media is that the consumer does not want edited
content,” chief marketing officer Alison Bringe said.

 

“They want to know the story behind the product."

 

 

Models1, one of the largest modelling agencies in Europe, has even hired a
full-time social-media editor to support its staff.

 

“It’s difficult for models to become influencers, because they work for
several different competing brands,” managing director John Horner said .

 

“A model is not a specialist - they have to be a chameleon.”

 

And struggling to photograph themselves at home was damaging their
self-confidence.

 

'Small pool'

“Influencers to some extent are devaluing the industry because they aren’t
models or experts in fashion or beauty,” Mr Horner said.

 

Clients had grown savvy to influencers who “endorse so much stuff the value
of their content is beginning to be questioned”.

 

And, both modelling agencies said, brands should not pin all their hopes on
content creators.

 

“There’s a very small pool of people who look good enough to be models," Ms
Rose said, "and there’s an even smaller pool of people who can content
create - brands cannot limit themselves.”--BBC

 

 

 

Google rejigs remote working as it reopens offices

Google is changing its work-from-home policy as it looks to get more people
back into its US offices.

 

The tech firm said employees can work from home overseas for more than 14
days a year if they apply for it.

 

Google will continue its current work-from-home arrangements until 1
September but will allow people to return voluntarily from next month.

 

The tech giant was one of the first companies to offer working from home
when the pandemic struck last year.

 

"It's now been a year since many of us have been working from home, and the
thought of returning to the office might inspire different emotions," Fiona
Cicconi, Google's head of people operations, wrote in a company email on
Wednesday.

 

Google is currently preparing for a broad reopening in September, when
employees will be expected to be in the office for at least three days a
week.

 

Until then, the initial return period will be voluntary as offices slowly
reopen with limited capacity, based on vaccine availability and a downward
trend in Covid-19 cases.

 

When staff are required to officially return to Google's offices in
September, they "won't look exactly the way you remember them" but "will
include meals, snacks and amenities where possible," Ms Cicconi said.

 

"We will even be welcoming our Dooglers back," she added, referring to
Google's bring-your-dog-to-work group. There is now a dog park at its
Mountain View campus called The Doogleplex.

 

The company is advising workers to get vaccinated against Covid-19, but is
not making it mandatory for returning to the workplace.

 

Google says more long-term work-from-home arrangements are available. Staff
can apply for up to 12 months in "the most exceptional circumstances.

 

Different approach

Google is taking a different approach from its tech rivals who have allowed
most staff can continue remote work indefinitely. Twitter has said it will
allow most of its employees to work from home permanently.

 

A number of big companies have plan to test so-called hybrid work
arrangements, where employees split their time between home and office.

 

"None of us have this all figured out," said Carolyn Everson, vice president
of Facebook's global business group, when talking about current
work-from-home arrangements.

 

"We are making this up on the fly. The reality is we are all trying to
figure it out together," the senior Facebook executive told a panel hosted
by Bloomberg.

 

Facebook will start to reopen its Silicon Valley offices at the beginning in
May, after more than a year of working from home during the global pandemic.

 

Its largest offices won't reach 50% capacity until early September, it
said.--BBC

 

 

 

Rwanda: Why Agriculture Lags Behind in Strategic Plan Targets

Although agriculture sector improved much in different areas such as erosion
control measures and availability inputs, it is still lagging behind in
Fourth Strategic Plan for the Transformation of Agriculture (PSTA4) targets.

 

This is one of the findings of a report by the Ministry of Finance and
Economic Planning.

 

The report called Sector Review for Quarter Two FY2020/2021 (Agriculture &
Education sector focus) which was published in March 2021, said that those
unmet targets include yield of major crops per hectare, including maize,
beans, [Irish] potatoes, wheat and soybeans, which are still low.

 

The six-year strategic plan runs from 2018 through 2024, but its targets are
in phases to ease their implementation and monitoring.

 

For instance, in 2019/2020, the average yield of maize per hectare was 1.6
tonnes, 0.6 tonnes for beans, 8.3 tonnes for [Irish] potatoes, 1.0 tonnes
for wheat, and 0.5 tonnes for Soybeans.

This performance is short of the target which was 2.1 tonnes per hectare for
maize, 1.5 tonnes for beans, 10.6 tonnes Irish potatoes, 1.17 tonnes for
wheat, and 0.73 tonnes per hectare for Soybeans in the same fiscal year.

 

The implementation of the PSTA4 would cost Rw2.7 trillion over the six-year
period, according to the Ministry of Agriculture and Animal Resources
(MINAGRI).

 

This data implies that the strategic plan requires Rwf450 billion in
agricultural investments per year. But, this financing is far from being
achieved.

 

The plan was primed to increase agricultural growth from an average of six
percent in the previous plan to 10 percent and halve poverty among Rwandans
from 38.2 per cent in 2016/2017 to 15 percent by 2023, according to
estimates from MINAGRI.

Still talking about crop production, green coffee (unroasted coffee) produce
stood at 22,385 tonnes in 2018/2019, which reduced to 20,495 tonnes in
2019/2020, against the target of 27,000 tonnes in that year, the report
indicated.

 

Also, the agriculture sector is still lagging behind in strategic reserves
to be stored at district level where it is at 32,707 tonnes (maize) and
29,319.5 tonnes (beans) against 128,723 tonnes (maize) and 63,838 tonnes
(beans) respectively.

 

Regarding irrigation, 63,742 hectares of farmland were developed for
irrigation in 2019/2020 against the target of 68,684 hectares. The
Government targets to increase the farmland under irrigation to 77,084
hectares in 2020/2021 fiscal year which will come to an end on June 30; and
102,000 hectares by 2024.

 

This requires huge investment given that the average farm area developed for
irrigation has been around 5,000 hectares per year so far.

Speaking to The New Times, MP Théogène Munyangeyo said that there is a sort
of paradox whereby most Rwanda are engaged in or live by agriculture, yet,
the sector receives a modest share of loans provided by financial
institutions.

 

This status quo, he said, should change to make agriculture receive a fair
share of government financing.

 

He said that priority should be put on increasing the capacity for
irrigation to reduce reliance on rain-fed agriculture or to get rid of being
at the mercy of climate change effects on farming.

 

Need for increased, suitable financing for agriculture

 

According to the report, agriculture accounted for 5.88 per cent of total
loans from financial institutions in 2018/2019, which dropped to 5.27 per
cent in 2019/2020 against the target of 7 per cent.

 

Most importantly, Munyangeyo said that there is a need for developing a
financing system that is suitable for agriculture growth, indicating that
agriculture supports industrialisation and service sector growth.

 

He indicated that financing to agriculture is even falling short of the
Comprehensive Africa Agriculture Development Programme (CAADP)
recommendation consisting that every African country should allocate at
least 10 per cent of public expenditures to agriculture sector.

 

Agriculture received Rwf120 billion out of Rwanda's more than Rwf3,464
billion budget in 2020/2021, representing less than 5 per cent of the total
public financial plan.

 

"In any way, we need a major fund that provides loans to finance agriculture
and livestock projects at low-interest rate of not more than 4%," he said.

 

He said that low-interest loans will stimulate private investments in the
agricultural sector, citing irrigation which requires long-term ventures.

 

François Nsengiyumva, Chairperson of Rwanda Chamber of Agriculture and
Livestock at Private Sector Federation told The New Times that there are
various reasons that make the set agriculture targets under PSTA4
unattainable.

 

He said that there is a need to increase private sector financing.

 

Since 2003, he said, farmers have been requesting for establishment of an
agriculture bank.

 

Meanwhile, he said, with the rise in population, increasing food production
is critical.

 

"If the current situation continues, we might end up importing most of the
food needed in the country," he said.

 

He said that the private sector needs a fund to invest in agriculture at
low-interest rates and boost food production at farm level and
agro-processing among others.

 

"It is agro-processing that boosts farm production because it ensures that
farmers have a ready market for their produce," he said.-New Times.

 

 

 

Nigeria's Economy Bleeds As Govt Fails to Implement Port Automation

Nigeria is losing billions of Naira it has the opportunity of earning due to
the failure of government to commence implementation of a one-stop-shop
cargo clearing system at the nation's ports, LEADERSHIP reports.

 

This development, according to sources, has provided opportunity for
dishonest government officials and shippers to short-change government
through making human contacts and negotiating to their own advantage what
should go to government's coffers.

 

The federal government introduced the Nigeria Single Window Trade Portal, a
cross-government website that is expected to aid trade facilitation by
offering a single portal for trade actors, both Nigerian and international,
to access a full range of resources and standardised services from different
Nigerian government agencies.

 

The NSW Trade Portal is expected to facilitate trade by offering a platform
for users to: Consult trade information online, for example, tariff search,
arrived vessels, regulatory guidelines; Submit trade documents and track
their trade transaction status online; Pay online through e-payment
facilities using credit card (this function is to be deployed in the next
phase; Access help-desk, trouble tickets, and other support services online
(for registered users); Quickly reference important information on different
government agencies involved in trade matters, as well as link to their
websites through a convenient hub.

But many years after, the NSW has not been fully integrated with other
platforms of government's agencies.

 

The automation expected at the ports is still a mirage as cargo clerance are
still being done manually. From the Nigerian Ports Authority (NPA), Nigeria
Customs Service (NCS), Nigerian Maritime Administration and Safety Agency
(NIMASA), Nigerian Shippers Council (NSC), SON, amongst others, port
processes are now online. However, integration of all these processes is
still a tall dream.

A source told LEADERSHIP yesterday that it is unfortunate that the federal
government appears to lack the will to commence the implementation of port
automation for reasons that are unclear. He said the nation's port relied
heavily on manual inspections which delay cargo clearance and add to the
cost of doing business at the ports.

 

"Nigeria is not a serious country. How can you allow people to use their
discretion to value what should be paid to the government? Nigerian ports
have no scanners and Customs officials use manual efforts to inspect goods.
The human contact gives room for sleaze to thrive. The country's economy is
bleeding as the nation is losing billions of naira to this practice," said
the source.

 

According to him, automation of port processes will increase efficient
service delivery, friendlier business cost, improved revenue to the federal
government and facilitation of legitimate trade.

 

Speaking at a recent event on the need to integrate all online processes of
government agencies, the executive secretary/CEO of the Nigerian Shippers'
Council, NSC, Mr. Hassan Bello agreed that there is definitely some level of
improvement on automation, but would wish that the standard as obtained in
advanced ports comes to play in the Nigerian maritime environment.

Bello called for the adoption of virtual ports operation as imperative in
fast-tracking development in the maritime sector, adding that the present
system in the ports industry was too cumbersome. He called for integration
of all stakeholders online platforms in the sector, including the Customs
Service, NPA, NSC, importers, terminal operators, and freight forwarders to
achieve a 24 hour ports service.

 

The NSC, last year, expressed optimism on the attainment of 90 percent
digitisation of ports operations by first quarter of 2021, as part of
measures to enhance port-friendly environment and boost cost efficiency.

 

Bello said that government, through the Council, had since begun the process
of full digitisation and integration of the Nigerian seaports, a development
he said had improved the various ports stakes, services, businesses and
operations.

 

But the nation's seaports still lack automation that would make it compete
favourably with neighbouring seaports and wrest the hub from tiny
Francophone countries like Togo and Benin Republic. These countries that are
regarded as the hub in West and Central African countries have automated
their port processes as well as having single window platforms and scanning
machines that make cargo clearance seamless.

 

On the contrary, Nigeria is struggling with single window while there have
been series of unfulfilled promises from the government and the Nigeria
Customs Service (NCS), in providing scanning machines for the seaports in
Nigeria.

 

Maritime stakeholders have however said that the absence of a national
single window platform at Nigeria's seaports is reportedly costing the
nation a whopping N1.08trillion in customs revenue annually.

 

They argue that facilities such as Single window scanners are neededed to
facilitate quick cargo evacuation and seamless port operations.

 

The president, National Association of Government Approved Freight
Forwarders (NAGAFF), Mr Uche said automating Nigerian seaports is long
overdue.

 

According to him, government should provide single window for agencies of
government in the ports as well as shipping companies, terminal operators
and clearing agents for seamless cargo clearance.

 

He said, "We are managing a moribund port because automating clearance
process from end to end is long overdue. Shippers Council has been the only
organisation to ensure that the port is fully developed through automation,
but like other agencies, they should join the council in ensuring that the
port is automated.

 

"We should have a single window that comprises every players in the port
system; that will drive effectiveness."

 

"Single window will allow all agencies at the port to speak to themselves
and be seeing what others are doing. All clearance documents will be updated
on a single platform where everyone involved will see it. But Nigerian Ports
presently is operating a haphazard automation."

 

Uche lamented that the agencies of government operate independently as they
cannot interact with one another on the current platform they operates.

 

"The agencies can't speak to themselves. For instance, on NICIS created by
Customs, Standard Organisation of Nigeria (SON) can only view but cannot
make input on a particular consignment, rather they will have to write
physically to the Nigeria Customs Service if there is a query. That doesn't
encourage efficiency," he said.

 

Also, the public relations officer, Association of Nigeria Licensed Customs
Agents (ANLCA), Joe Sanni, said the simple thing to do is to automate all
the whole port processes by bringing in scanners and letting them have
direct access into that single one-stop shop window.

 

He said, "We had recommended this thing long time ago when Prince Shittu was
a member of Presidential Task team to look into the ports crisis all over
the country. We travelled everywhere and I was with him. The singular
problem against the implementation of the system otherwise is lack of trust
among agencies of government. They don't trust each other at all and they
want to tell each other lies because the whole gamut of the process is that
I want to take the glory for it."

 

"If Nigeria cannot practise single window," he noted, "there is no way the
country can up its revenue because all these leakages, people are benefiting
from it."

 

He said there is still pysical examination of cargo clearance due to lack of
scanners, as he urged government to equip the whole place with scanning
machines such that as the cargoes are coming down from the sea, they are
going through the system for clearance.

 

He said if other countries like Ghana, Senegal and Togo could adopt single
window concept, why is so difficult to do in Nigeria.-Leadership.

 

 

 

Nigeria: Kaduna to Build a Light Rail System, Seeks NITTs Support

Governor Nasir El-Rufai of Kaduna state has said that his administration is
planning to build a light rail system that will transverse Kaduna metropolis
and that the government will work with the National Institute of Transport
Technology (NITT) on the feasibility studies.

 

The governor also said that NITT will work with Kaduna State Government on
traffic surveys for the Bus Rapid Transit(BRT) System which is already "in
place and for which we have gotten credit offer from the French government
to build."

 

El-Rufai who revealed this when the Minister of State for Transportation,
Senator Gbemisola Saraki and manage[1]ment of NITT paid him a courtesy
visit, argued that the survey is to justify the economic viability of such
project.

The governor described NITT as a key agency of the federal government whose
presence is felt in Kaduna state, adding that it has "not just provided jobs
for many of our citizens but it has worked very closely with the state
government in the areas of transport technology and assistance in many
areas."

 

El-Rufai promised that Kaduna State Government will assist NITT in the
development of the National Transportation Data Bank, adding that "we just
need to know what we need to do and we will do it."

 

The governor expressed appreciation for the Kaduna-Abuja rail line but also
appealed to the Ministry of Transportation "to consider making the
frequencies of the train system more than what it is now because it is
always fully booked. "

 

"There are areas of constraints with the Covid-19 pandemic but I think that
the way our figures are going down with the rollout of the vaccination,
there are going to be far more movements within the country, and
particularly on that route.

"So, we would like the ministry to consider increasing the frequencies and
completing the protection of the rail line from cattle and humans, so that
the trains can run at a faster rate," he pleaded.

 

Earlier, Senator Saraki said that the ministry is aware of the numerous
efforts that El-Rufai has undertaken in improving the transport sector
"through the provision of a reliable means of transportation for the teeming
people of Kaduna state as well as construction of good road networks, not
only within Kaduna township but across major local government areas in the
state."

 

The Minister of State acknowledged Kaduna State Government's support to
NITT, adding that "we are particularly grateful for approving the allocation
of 80 hectares of land for the Jatropha plantation, for the production of
bio[1]fuel, which is aimed at reducing the dependency of petroleum
products."

 

"I must thank His Excellency for approving of research projects, such as
registration of commercial vehicle drivers in Kaduna state, transport
regulation and transport infrastructure facility as well as training of the
state traffic officials to the institute," she added.-Leadership.

 

 

 

Kenya: Nepotism, a Deadly Cancer That's Slowly Killing the Kenyan Dream

Every year, young people graduate from colleges and universities in their
hundreds of thousands with great hopes of finding jobs related to their
fields of study.

 

For many, that dream has remained a mirage. Since independence, millions of
Kenyan youths are jobless.

 

This has led to the belief that for one to get employed, they must have
connections.

 

To a certain extent, I think this is true.

 

I know of a neighbour who works in a senior position at the Kenya Defence
Forces and who has five of his sons working in the same establishment. Every
year, many youths in our neighbourhood present themselves for recruitment in
the KDF and go through rigorous trials at the local stadium.

However, since they do not have anyone "who knows them", they don't get
selected.

 

The elite in our country want to convince us that the observation above is a
mere stereotype, but to me, this is the reality.

 

Regret letters

 

My father, who struggled to get an education, has not been successful in
getting a job.

 

He narrated to us how his classmates got jobs even before they graduated
from school just because they had "connections".

 

He also showed us a carton full of regret letters from different companies
where he had applied for a job, saying there are no vacancies, yet those
firms continue to hire on a regular basis.

Nepotism in our country, though viewed as a stereotype, is a sad reality.
The effects of nepotism is visible across our society, in that we have the
wrong people in the right jobs who are messing up our institutions.

 

For instance, we have thousands of unqualified people in charge of our
national security, criminal justice system and defence.

 

All they needed was to know someone and to bribe their way into the police
service, and the military and we, the taxpayers, are the ones now paying the
price of their incompetence.

 

Investigations into crimes are being mishandled every day and millions of
cases are collapsing in court because of these incompetent officers.

 

Quacks

 

In the end, thousands of families have been denied justice.

 

In our hospitals, we have quacks operating on patients and many lives have
been lost under their care due to wrong diagnoses.

 

I strongly believe that nepotism, favouritism and corruption are cancers
that are finishing us and need to be fought from all fronts.

 

Please play your part. Stop favouring your friends, cronies and relatives
while hiring.

 

May merit be your shield and defender.-Nation.

 

 

 

 

Well-reputed Bitcoin Exchanges in South Africa

As the South African population is getting more aware and excited about
cryptocurrency trading, the investors need a legitimate platform that could
help them secure their investments from fraud and scams. Since the crypto
exchange business has emerged along with the popularity of bitcoin and other
cryptocurrencies.

 

After the emergence of bitcoin as a money-making opportunity, many investors
started to invest in building platforms for inventors and traders. For those
people who are new to crypto trading, it is beneficial to understand that
not all crypto exchange platforms are reliable and trustworthy. Among the
most trusted platforms involve bitcoinformula.net and few others.

 

Crypto exchanges are businesses with the purpose of providing platforms to
those who are willing to trade cryptocurrencies for fiat and other digital
assets.

 

An overview of a few crypto exchanges in South Africa.

 

eToro is one of the oldest platforms, providing services since 2006 way
before bitcoin’s existence. The best thing about eToro is that it offers
almost all the virtual exchange opportunities like stocks, forex,
commodities, and cryptocurrencies. The platform is just not limited to
trading but also acts as a social network where traders have given their
reviews and one can follow them on Facebook to keep on getting insight into
the market.

 

Furthermore, the platform is also ahead of other platforms in providing
quick transactions, with an online chat facility regarding online markets,
and most importantly it is CySEC regulated platform. The platform charge
high withdrawal fees, and the deposit is only in USD.

 

Coinmama is best for all types of traders, as it allows mid to high volume
investments. The platforms offer its services in more than 180 countries,
which makes Coinmama a global platform. The exchange provides ease to its
customers by accepting cash payments, and the facility of sending money via
western union is also available.

 

The platform is also quick in transactions but charges high fees and users
can buy but can’t sell.

 

LocalBitcoin.com is an interesting platform that connects nearby users for
business purposes. The user can get registered as a buyer and/or seller, and
if one has trust issues, the deal could be done by directly meeting the real
person. Both, face to face cash payments and bank transfer methods of
payment are available.

 

There is something that a user might not like, for example, the user might
have to face some people who offer low rates, and the platform only deals in
the only bitcoin.

 

24 Option is also one of the oldest platforms, dealing in cryptocurrency
exchange. The platform is known for its credibility and legality. The
platform provides such an environment where users can learn about the world
of digital tradable assets and investment processes.

 

The platform helps users to understand the trading environment by providing
daily reports, the latest financial trends, and guides for beginners.

 

Being an old and well-reputed platform, it is also considered as one of the
trustworthy platforms in the business. The biggest with this platform that
it does not entertain deposits less than $250 and high fees are charged on
trades and payments.

 

Conclusion:

 

All these platforms have their own benefits and drawbacks as exchanges
discussed above charge high transaction fees whereas others have a minimum
deposit limit. So, different users have different requirements, it depends
on what is a trader actually looking for.

 

 

 

Samsung Q1 profit likely surged 45% on bumper smartphone, appliance sales

Samsung Electronics Co Ltd (005930.KS) likely saw a 45% jump in profit for
January-March on robust sales of smartphones, TVs and home appliances,
though chip division earnings are seen tumbling after a storm suspended
production at its U.S. plant.

 

Spending more time at home due to the coronavirus pandemic, consumers have
splashed out on an array of high-margin consumer electronics which in turn
has helped cause a global shortage of semiconductors.

 

Operating profit for the South Korean tech giant in the quarter is expected
to have climbed to 9.3 trillion won ($8.2 billion), according to a Refinitiv
SmartEstimate drawn from 16 analysts. SmartEstimates assign more weight to
forecasts from consistently accurate analysts.

 

That would mark Samsung's highest operating income level for the first
quarter since 2018. Revenue likely rose 12%.

 

Samsung is scheduled to announce preliminary first-quarter results on
Wednesday.

 

In particular, its mobile division looks like it had a stand-out quarter,
benefiting from the launch of its Galaxy S21 series in mid-January - more
than a month ahead of the flagship model's usual annual release schedule.

 

The world's largest smartphone maker is estimated to have cornered roughly
23% of global market in the quarter, thanks to that launch and
cheaper-than-usual pricing for its premium devices, according to
Counterpoint Research. The S21, for example, was priced $200 lower than the
S20.

 

That compares with 20% market share in the same quarter a year ago and 16%
market share in the previous quarter when arch-rival Apple Inc (AAPL.O)
released the iPhone 12.

 

High-margin accessories such as Galaxy Buds did brisk business as well,
analysts said. They estimate operating profit for the division likely soared
by more than 1 trillion won from a year earlier to about 4.15 trillion won.

 

Samsung's TV and home appliance business is expected to see operating profit
more than double to around 1 trillion won.

 

Despite stratospheric demand worldwide for chips, profits for Samsung's
semiconductor division are expected to have fallen by roughly a fifth to 3.6
trillion won.

 

The division has been hampered by the cost of ramping up new production and
losses at its Texas factory after a winter storm halted output in
mid-February. Samsung said production at the plant had returned to
near-normal levels as of late March. read more

 

Analysts have estimated the losses related to the Texas factory shutdown at
around 300-400 billion won.

 

($1 = 1,128.5900 won)

 

 

Biden will push through infrastructure plan if no Republican support -energy
secretary says

U.S. President Joe Biden would be willing to push through his $2 trillion
infrastructure plan without the support of Republican lawmakers if he cannot
reach a bipartisan deal, Energy Secretary Jennifer Granholm said on Sunday.

 

Granholm said Biden would prefer that his plan have Republican backing but,
if that does not work, he would likely support using a procedural strategy
called reconciliation to allow Democrats to pass it in the Senate.

 

"As he has said, he was sent to the presidency to do a job for America. And
if the vast majority of Americans, Democrats and Republicans, across the
country support spending on our country and not allowing us to lose the race
globally, then he's going to do that," Granholm said on CNN's "State of the
Union."

 

Most Americans currently support the Democratic president's plan, said
Granholm, one of several senior Biden administration officials who promoted
the proposal on television news shows on Sunday.

 

Since taking office in January, the Democratic president has repeatedly said
he wants to work with Republicans.

 

But the infrastructure plan - his second major legislative initiative - so
far looks unlikely to draw more bipartisan support than his first, a $1.9
trillion COVID-19 relief package that passed with only Democratic support
last month, using reconciliation.

 

Senate Republican leader Mitch McConnell said last week that Biden's
infrastructure plan was "bold and audacious" but would raise taxes and
increase debt. He vowed to fight it "every step of the way."

 

Republican Senator Roy Blunt on Sunday urged Biden to significantly scale
back the plan if he wanted Republican lawmakers' support.

 

"If we'd go back and look at roads and bridges and ports and airports, and
maybe even underground water systems and broadband, you'd still be talking
about less than 30% of this entire package," Blunt said on "Fox News
Sunday."

 

Blunt said he believed a smaller goal, of around $615 billion, would be more
palatable to some of his Republican colleagues.

 

Republican Senator Roger Wicker of Mississippi joined others in his party in
trying to cast Biden’s plan as a tax hike rather than an effort to repair
and rebuild the country’s transportation, communications, water and
electrical networks.

 

"What the president proposed this week is not an infrastructure bill. It’s a
huge tax increase," Wicker told NBC's "Meet the Press."

 

Biden’s plan would raise the corporate income tax rate after deductions to
28% from the current 21%. His predecessor as president, Donald Trump, and
Republican lawmakers cut the corporate rate from 35% to 21% in 2017.

 

Trump repeatedly promised to tackle the nation's crumbling infrastructure
during his presidency but never delivered on that.

 

The Biden infrastructure plan's investments are long-term and badly needed
to drive job growth, Brian Deese, director of the National Economic Council,
said on the Fox program.

 

The initiatives will serve the country well into the 2030s and beyond, added
Transportation Secretary Pete Buttigieg.

 

“Right now, we’re still coasting off of infrastructure choices that were
made in the 1950s,” Buttigieg said on NBC.

 

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

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INVESTORS DIARY 2021

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


CFI

AGM

Farm & City Boardroom, 1st Floor Farm & City Complex, 1 Wynne Street

31/03/21 | 11am

 


 

Good Friday

 

02/04/21

 


 

Easter Sunday

 

04/04/21

 


 

Easter Monday

 

05/04/21

 


 

Independence Day

 

18/04/21

 


 

Public Holiday in lieu of Independence Day falling on a Sunday

 

19/04/21

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


ART

PPC

Dairibord

 


Starafrica

Fidelity

Turnall

 


Medtech

Zimre

Nampak Zimbabwe

 


 

 

 

 


 <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 sources 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 sourced from third parties.

 


 

 


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344 1674

 


 

 

 

 

 

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