Major International Business Headlines Brief::: 02 March 2022

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Major International Business Headlines Brief::: 02 March 2022 

 


 

 


 <https://www.nedbank.co.zw/> 

 


 

 


ü  Rivian raises EV prices by 20%, inviting customer ire, taunt from Musk

ü  China buys more Iranian oil now than it did before sanctions, data shows

ü  Stocks slip, oil blasts past $110 as Russia sanctions bite

ü  Oil prices surge over 7% as global crude reserve release disappoints

ü  China's factory growth picks up as demand improves, Ukraine crisis raises
risks

ü  Tanzania: Tanesco-Masdar Strike Agreement to Boost Power Generation

ü  Equatorial Guinea: Nigeria, Equatorial Guinea Sign Deal On Development of
Stranded Gas

ü  Nigeria: Oil Will Continue to Be Relevant Despite Conversations Around
Energy Transition - Govt

ü  Uganda Reassures Unhappy Coffee Farmers After ICO Exit

ü  Rwanda: How Rwanda's Data Protection, Privacy Law Will Benefit Users

ü  Apple to halt sales and limit services in Russia

ü  Ukraine conflict: ExxonMobil and Boeing take action over Russia ties

ü  Russian oligarch Fridman warns sanctions will not stop war

ü  Ukraine conflict: Oil hits $110 a barrel despite emergency measures

ü  Ship carrying 4,000 luxury cars sinks off the Azores

ü  Ukraine conflict: Jaguar Land Rover pauses car sales to Russia

 

 

 

 

 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 

Rivian raises EV prices by 20%, inviting customer ire, taunt from Musk

(Reuters) - U.S. electric vehicle startup Rivian Automotive Inc (RIVN.O)
said on Tuesday it has increased selling prices of its vehicles by about 20%
due to inflationary pressures and higher component costs, angering some
customers.

 

The price increase also invited caustic comments from Elon Musk, chief
executive of rival Tesla Inc (TSLA.O), who tweeted that Rivian's "negative
gross margin will be staggering" and it is "near impossible" for other firms
to make affordable electric pickup trucks.

 

Rivian, in which Amazon.com Inc holds a 20% stake, said the starting price
of its R1T electric pickup trucks has gone up by about 17% and its R1S sport
utility vehicles by about 20%. It said the price increases would affect most
of the customers who have already placed pre-orders for the vehicles.

 

"Well, it's a sad day for me. Cancelled the Rivian order. So bummed out,"
"Zach Jump-Start Marino", who said he lives in Georgia and holds Rivian
shares, said on his Facebook posting.

 

"Price increase was astronomical and unfair to pre-order holders and early
supporters. I'm not paying 94k+ for a "mid-size" truck," he said, adding he
could buy gasoline pickup trucks such as Ford Motor's (F.N) F-150 at much
lower prices.

 

He told Reuters his R1T price has gone up by $15,000, including options.

 

Tesla Inc (TSLA.O) and legacy car makers have also raised U.S. vehicle
prices to offset high costs related to logistics and supply chain
disruption, and dealers often mark-up prices because of vehicle shortages.

 

“Like most manufacturers, Rivian is being confronted with inflationary
pressure, increasing component costs, and unprecedented supply chain
shortages and delays for parts (including semiconductor chips)," Jiten Behl,
Rivian's chief growth officer, said in a statement.

 

The California-based startup fell short of its production target last year
due to supply-chain constraints.

 

Rivian said the cost of certain options including paint and wheels and
upgrades like reinforced underbody shield have also increased.

 

The base price of the Rivian R1T is rising to approximately $79,500 from
$67,500, while the R1S is starting at $84,500, up from $70,000.

 

AFFORDABILITY

 

Rivian said it will introduce an R1T model with a lower-range battery pack
and dual motors in 2024, pricing it at the original $67,500.

 

Rivian's former head of sales and marketing, Laura Schwab, said in a lawsuit
against the company in November over alleged "gender discrimination and
retaliation" that Rivian has acknowledged a need to raise the vehicle prices
"after the IPO".

 

"The vehicles were underpriced, and each sale would result in a loss for the
company," she said in the lawsuit. Rivian, which went public in November,
declined to comment on the lawsuit.

 

Musk, who tweeted his comments late on Tuesday in response to a story on
Rivian's price increase, was asked about the pricing of Tesla's upcoming
electric pickup truck, the Cybertruck.

 

"Our primary challenge is affordability. Creating an expensive truck is
relatively easy. If it is extremely hard to do so for Tesla, despite our
much greater economies of scale & better technology, then it is damn near
impossible for others," he said.

 

Musk said in January that Tesla is delaying the launch of the Cybertruck to
next year, prioritizing production of its existing models due to parts
constraints.

 

The Thomson Reuters Trust Principles.

 

 

 

China buys more Iranian oil now than it did before sanctions, data shows

(Reuters) - China's purchases of Iranian oil have risen to record levels in
recent months, exceeding a 2017 peak when the trade was not subject to U.S.
sanctions, tanker tracking data showed.

 

The ramping up of the purchases by the world's top oil importer comes amid
talks between Tehran and world powers to revive a 2015 nuclear deal that
will lift U.S. sanctions on Iranian oil exports. The talks have intensified
in recent weeks.

 

A return of Iranian oil will ease tight global supplies and cool crude
prices that have touched $100 a barrel following Russia's invasion of
Ukraine.

 

Chinese imports exceeded 700,000 barrels per day (bpd) for January,
according to estimates of three tanker trackers, surpassing the 623,000 bpd
peak recorded by Chinese customs in 2017 before former U.S. President Donald
Trump reimposed sanctions in 2018 on Iranian oil exports.

 

One tracker estimated imports amounted to 780,000 bpd in November-December
on average.

 

U.S. President Joe Biden's administration has so far chosen not to enforce
the sanctions against Chinese individuals and companies amid the
negotiations on reviving the 2015 deal.

 

Record Chinese purchases of Iranian oil would mean less supply will be
available to Tehran's previous buyers like Indian and European refiners
should the sanctions be removed and the Islamic republic be allowed to
resume oil exports, traders said.

 

It would also mean that cheaper Iranian oil will continue to crowd out rival
supplies from Brazil and West Africa, they said.

 

When asked for a comment by Reuters, China's foreign ministry declined to go
into details but reiterated that Beijing opposes Washington's long-arm
jurisdiction and urges Washington to remove unilateral sanctions.

 

Iran's oil ministry did not respond to a request for comment.

 

A U.S. State Department spokesperson said Washington is aware of China's
Iranian oil purchases and has broached the subject with Beijing.

 

“China is an important trading partner for Iran, so, of course, our
discussions with China on how best to get a mutual return to compliance with
the JCPOA include discussions of sanctions enforcement," said the
spokesperson, referring to the 2015 nuclear deal formally known as the Joint
Comprehensive Plan of Action.

 

DEMAND FROM TEAPOTS

 

At the forefront of China's buying are its independent refiners, or
"teapots", who, traders said, are being enticed by the discounted prices,
especially as their domestic refining margins got pinched under tight
regulatory scrutiny.

 

"We're seeing more plants taking Iranian oil, because they are cheaper," a
China-based executive involved in the business told Reuters, referring to
the independent refiners.

 

Traders said January Iranian cargoes were transacted $5 a barrel below
benchmark Brent . Those prices were steady versus late 2021 but more
attractive against competing supply from Brazil that was priced at $7
premium over Brent, they said.

 

Consulting firm Petro-Logistics, which tracks oil flows, said Iran's crude
exports surged in December to over 1 million bpd, the highest level in
almost three years.

 

"Iran's oil exports are mostly going to China, often through convoluted
routes and transshipments, with small volumes going to Syria each month,"
said CEO Daniel Gerber.

 

Petro-Logistics sees total Iranian oil exports at close to 800,000 bpd in
January and 700,000 bpd in February. But OilX, another data analytics firm,
pegged Iranian exports at more than 1 million bpd for both January and
February.

 

Chinese customs, which reported its first official import of Iranian oil in
December, is due to release January and February data in March.

 

If the 2015 nuclear deal is revived, Iran is expected to divert sales away
from the Chinese independent refiners but the Islamic republic is unlikely
to turn off the tap to these customers, source of more than $20 billion in
revenue over the past two years.

 

"Iran may not have the full confidence how long the new deal could last.
Chinese teapots have proven an essential outlet during the worst times and
Iran would want to keep that channel open," said the China-based oil sector
executive.

 

The Thomson Reuters Trust Principles.

 

 

 

Stocks slip, oil blasts past $110 as Russia sanctions bite

(Reuters) - Asian stocks came under renewed pressure on Wednesday and the
price of oil surged past $110 per barrel as investors worried about the
impact of aggressive sanctions against Russia for invading Ukraine.

 

European bourses were set for a weak open after Tuesday's drubbing, with
Euro Stoxx 50 futures down 0.13% and German DAX futures 0.17% lower in early
deals. FTSE futures rose 0.34%.

 

In the latest tightening of restrictions on Moscow, the United States banned
Russian flights using American airspace, following similar moves by the
European Union and Canada.

 

U.S. President Joe Biden announced the ban during his State of the Union
speech on Tuesday, in which he also said Russian President Vladimir Putin
would "pay a continuing high price" for the invasion of Ukraine. read more

 

MSCI's broadest index of Asia-Pacific shares outside Japan
(.MIAPJ0000PUS)fell 0.56% with China's blue-chip CSI300 (.CSI300) index
1.12% lower.

 

Japan's Nikkei (.N225) fell 1.68%.

 

In Australia, the benchmark ASX 200 (.AXJO) index gained 0.28% despite the
risk-off mood elsewhere as rising commodity prices lifted miners' shares.

 

"The Russia-Ukraine conflict will probably continue to dominate markets for
the foreseeable future. The announcement yesterday that Russia will not pay
coupons to foreign holders on its government debt should push investors
further into safe-havens," ING analysts said in a note.

 

"Support for starting the EU membership process for Ukraine shows the unity
of support for Ukraine from Western Europe but is unlikely to help calm
tensions."

 

On Tuesday, the S&P 500 (.SPX) and Nasdaq Composite (.IXIC) indexes closed
about 1.6% lower, while the Dow Jones Industrial Average (.DJI) dropped
nearly 1.8%.

 

Global sanctions against Russia have prompted a string of major companies to
announce suspensions to or exits from their businesses in the country.

 

Exxon Mobil (XOM.N) said on Tuesday that it will exit Russia operations,
including oil production fields, following similar decisions by British oil
giants BP PLC and Shell , and Norway's Equinor ASA. (EQNR.OL) read more

 

Exxon's announcement comes as the price of oil continues to climb. On
Wednesday, global benchmark Brent crude blew past $110 per barrel, rising
more than 5.8% to $111.09, its highest since early July 2014.

 

U.S. West Texas Intermediate crude jumped nearly 6% to $109.30, its highest
since September 2013.

 

The rise came despite a global agreement to release 60 million barrels of
crude reserves to try to rein in price increases and mounting inflationary
pressures.

 

"We think that there is some room still for oil prices to continue to
climb," said Carlos Casanova, senior Asia economist at UBP in Hong Kong. "So
much of it depends upon political factors and making sure that some of the
supply coming out of Russia is offset with (not just) more oil from U.S.
shale, but also Iran."

 

In the currency market, the dollar rose 1.88% against the rouble to 107.01,
after touching a record high of 117 a day earlier.

 

The dollar was also stronger against the yen, up 0.12% at 115.03 , while the
euro slipped to $1.1112. Against a basket of currencies of other major
trading partners , the dollar firmed 0.15% to 97.464.

 

The greenback's rise came as U.S. Treasury yield rebounded after dropping to
eight-week lows on Tuesday. A shifting global growth outlook has seen
investors trim bets that the Federal Reserve will aggressively hike interest
rates in coming months.

 

The benchmark U.S. 10-year yield rose to 1.7309% from 1.711% late on Tuesday
and the policy-sensitive 2-year yield climbed to 1.3205% from 1.305%.

 

Fed funds futures markets now price only a 5% chance of a 50 basis point
hike at the Fed's March meeting, though a smaller 25 basis point hike is
seen as a virtual certainty. FEDWATCH

 

In his speech on Tuesday, Biden called for companies to make more cars and
semiconductors in the United States so Americans would be less reliant on
imports, as a way to battle inflation.

 

Gold, which touched an 18-month high last week and had surged nearly 2% on
Tuesday over the worsening Ukraine crisis, gave back 0.57% to $1,932.11 per
ounce as the dollar firmed.

 

Bitcoin , which had soared nearly 15.5% Tuesday on strengthening conflict
currency credentials read more , was 0.23% lower at $44,341.68.

 

The Thomson Reuters Trust Principles.

 

 

 

Oil prices surge over 7% as global crude reserve release disappoints

(Reuters) - Oil prices surged over 7% on Tuesday to their highest since
2014, as a global agreement to release crude reserves failed to calm fears
about supply disruptions from Russia's invasion of Ukraine.

 

Members of the International Energy Agency (IEA), which includes the United
States and Japan, agreed to release 60 million barrels of crude from their
reserves to try to quell the sharp increase in prices that pushed major
benchmarks past $100 a barrel. read more

 

However, news of that release - equivalent to less than one day of worldwide
oil consumption - only magnified the market's fear that supply will be
inadequate to cover growing disruptions.

 

Brent futures rose $7.00, or 7.1%, to settle at $104.97 a barrel, their
highest close since August 2014.

 

U.S. West Texas Intermediate (WTI) crude rose $7.69, or 8.0%, to settle at
$103.41. That was its highest close since July 2014 and its biggest daily
percentage gain since November 2020.

 

Markets rallied further in thin post-close trading, with Brent surpassing
$107 and U.S. crude above $106 per barrel after the American Petroleum
Institute, an industry group, said U.S. crude stocks fell by more than 6
million barrels in the most recent week.

 

In intraday trade, Brent hit its highest since July 2014 and WTI its highest
since June 2014. In addition to crude, U.S. heating oil and gasoline futures
also hit their highest since 2014.

 

U.S.-led sanctions on Russia exempted the energy sector, but traders are
shying away from trading Russian barrels, leading to big discounts on that
oil and tightening supply for other kinds of crude. Across various markets,
different grades of oil in the Middle East and elsewhere surged. read more

 

Russia's military move on Kyiv, Ukraine's capital, has stalled as its forces
struggle with food and fuel shortages, with some units apparently gripped by
low morale, a senior U.S. defense official said on Tuesday. read more

 

"Oil's climbing the Ukraine war wall of worry," said John Kilduff, partner
at Again Capital in New York. He said traders were disappointed in the size
of the release of strategic reserves.

 

The world's biggest shipping firm, AP Moeller-Maersk A/S (MAERSKb.CO), was
halting container movement to and from Russia, while Britain has banned all
ships with any Russian connection from entering its ports. read more

 

Major oil and gas companies, including BP and Shell PLC , have announced
plans to exit Russian operations and joint ventures. TotalEnergies SA
(TTEF.PA) said it would not invest further capital in its Russian
operations. read more

 

The largest supplier of global oil, the Organization of the Petroleum
Exporting Countries (OPEC) and allies including Russia, known as OPEC+, have
not signaled a desire to boost production beyond their expected 400,000
barrels per day (bpd) increase in April, despite entreaties from the United
States and others. read more

 

The group is due to meet on Wednesday for a monthly meeting.

 

"The pledge from OPEC+ to increase supply is so far a paper promise," said
Louise Dickson, senior oil market analyst at Rystad Energy, noting that
participating OPEC+ deal members are producing about 800,000 bpd below
stated target levels, further squeezing global supplies.

 

Futures for Brent and WTI through October were in what Robert Yawger,
executive director of energy futures at Mizuho, has called
"super-backwardation" with each month trading at least $1 a barrel below the
prior month. read more

 

Backwardation, a market structure where prompt contracts are more expensive
than those for later dates, indicates fear of being able to find cargoes in
the near-term, as global oil demand has largely recovered from the worst of
the coronavirus pandemic while production has not kept pace. read more

 

Libya's parliament approved a new government on Tuesday, but the incumbent
administration rejected the vote and vowed not to cede power. read more

 

Libya, an OPEC member, produced about 1.2 million bpd of crude in 2021,
according to U.S. energy data.

 

The API figures showed an unexpected drop in U.S. stocks. Government figures
will be released Wednesday, when analysts expect the latest U.S. data will
show a 2.7 million-barrel increase in crude stocks. ENERGYUSAENERGYAPI

 

The Thomson Reuters Trust Principles.

 

 

 

China's factory growth picks up as demand improves, Ukraine crisis raises
risks

(Reuters) - China's factory activity expanded slightly in February as new
orders improved, pointing to some resilience in the world's second-largest
economy even as downward pressure builds and Russia's invasion of Ukraine
heightens global uncertainty.

 

The official manufacturing Purchasing Manager's Index (PMI) registered 50.2
in February, remaining above the 50-point mark, which separates growth from
contraction, and picking up a touch from 50.1 in January, data from the
National Bureau of Statistics (NBS) showed on Tuesday.

 

Analysts had expected the PMI to ease to 49.9.

 

China's economy rebounded strongly from a pandemic-induced slump in 2020,
though momentum started to flag in the summer of last year, as a debt crisis
in the property market and strict anti-virus measures hit consumer
confidence and spending.

 

Policymakers have vowed to stabilise growth this year and all eyes are on
the annual meeting of its top legislative body that begins on March 5 during
which the government will unveil economic targets for the year and likely
more stimulus measures.

 

Russia's invasion of Ukraine has raised fresh risks for the global economy,
adding to months-long strains for China's factories from worldwide supply
chain snags.

 

"In February, PMI stayed above 50, reinforcing expectations that the economy
is on track for a recovery, likely due to pro-growth policies rolled out by
the government," said Zhang Liqun, analyst at China Federation of Logistics
& Purchasing.

 

Zhang said that demand was still weak and inflationary pressures are
building. "China should continue to implement various policies to expand
domestic demand and boost government investment... and to ensure the supply
of raw materials and stabilise prices. "

 

New orders grew for the first time since August last year, as demand
improved following the Lunar New Year holidays. Sectors such as
pharmaceutical, special equipment and auto industries expanded quickly last
month.

 

However, the growth in production slowed, with a sub-index standing at 50.4,
compared with 50.9 in January.

 

"New orders returned to the expansionary territory, suggesting that
manufacturing market demand has been quickly released since the holiday,"
said Zhao Qinghe, senior statistician at the NBS, in a statement
accompanying the data release.

 

"After the Spring Festival, manufacturing activities have gradually returned
to normal."

 

INFLATION, SUPPLY CHAIN HEADWINDS

 

Inflationary pressures continued to build. A gauge for raw material prices
stood at the highest in four months.

 

A separate private PMI survey also showed China's factory activity returned
to growth last month, buoyed by expanding new orders.  

 

The property sector may provide some support this year.

 

A Reuters poll showed the property market will rebound later in the year as
authorities loosen some of the financing curbs on property developers and
some localities relax buying requirements, bolstering buyer sentiment.
China's new home prices rose for the first time in January since September  

 

Indeed, an index of construction activity stood at 57.6 in February, up from
55.4 the previous month.

 

Still, the overall momentum is hostage to persistent headwinds from various
sources, some analysts say.

 

"The latest surveys suggest that the pace of economic growth edged up
slightly in February," Julian Evans-Pritchard, senior China economist at
Capital Economics.

 

"But it remains weak amid continued supply shortages, higher imported
inflation and persistent disruption to services activity."

 

China is still battling sporadic COVID-19 outbreaks across the country,
while imported cases from Hong Kong surged. That had dented consumer
sentiment.

 

A survey on China's sprawling services sector on Tuesday showed growth
picking up slightly in February.

 

China's official composite PMI, which combined manufacturing and services,
stood at 51.2 in February compared with 50.1 in January.

 

The Thomson Reuters Trust Principles.

 

 

 

Tanzania: Tanesco-Masdar Strike Agreement to Boost Power Generation

THE Tanzania Electricity Supply Company Limited (TANESCO) has signed an
agreement with the global energy investment company -MASDAR Based in
Abudhabi, to support the development of various power generation projects in
the country.

 

The agreement, signed at the Business and Investment Forum held alongside
the Dubai Expo 2020, was witnessed by President Samia Suluhu Hassan over the
weekend.

 

Elaborating on the agreement, TANESCO Chief Executive Officer (CEO) Maharage
Chande said the agreement is aimed at enabling the company to increase the
capacity of the power generation by approximately 2000 megawatts through
various projects.

"The objective is to enable sustainable economic development and make
Tanzania the first country in the East Africa region partnering with this
company," Mr Chande said.

 

The implementation of the agreement will also make TANESCO the only power
utility in the country to make significant strides in achieving its goal of
using various sources of electricity that will increase electricity
generation on the national grid to meet the high demand for energy without
causing greenhouse gas emissions which are harmful to humans.

 

MASDAR is a large company engaged in investment activities in the energy
sector that uses advanced technology to increase the production of various
energy sources to stimulate development and create a friendly environment
for the use of technology in power generation without affecting climate
change.

 

Projects that will benefit from the implementation of the agreement include
those that will come from solar, wind, geothermal and hydropower sources.

 

Dubai - the World Expo Dubai 2020 has dedicated February 27th 2022 as the
day for Tanzania to promote its products and opportunities, whereby
President Samia Suluhu Hassan graced the occasion.-Daily News.

 

 

 

Equatorial Guinea: Nigeria, Equatorial Guinea Sign Deal On Development of
Stranded Gas

Nigeria and Equatorial Guinea yesterday signed a Memorandum of Understanding
(MoU) to supply gas from Nigeria's offshore fields to the neighbouring
country's gas processing facility in Punta Europa.

 

A statement by the Senior Special Adviser, Media, to the Minister of
Petroleum Resources, Mr. Horatius Egua, stressed that the MoU kicked off a
strategic economic collaboration across the Gulf of Guinea where Nigeria's
abundant natural gas reserves compliment the country's gas liquefaction
infrastructure.

 

The Nigerian government stated that the recent passage of the Petroleum
Industry Act (PIA) coupled with, "Nigeria's Decade of Gas" initiative was
creating an enabling environment which triggered the conception of the
project.

According to the government, this has facilitated major investment inflow
from Equatorial Guinea into Nigeria even as the project signals the joint
effort of the two countries in working towards a greener energy environment.

 

"The execution of this MoU meets one of the imperatives of the decade of gas
in Nigeria. Whilst we are focused on the domestic gas agenda, we are keeping
an eye on the global gas market as well.

 

"Nigeria has huge gas resources, a significant amount of which is offshore
and will require unprecedented investment in infrastructure to bring them to
market.

 

"This collaboration allows much of that stranded gas to access the global
gas market within 18 to 24 months in what will be the fastest timeline to
market for a Nigerian offshore gas asset.

 

"This is possible because Equatorial Guinea brings to the table a major
portfolio of world class gas processing and liquefaction infrastructure
already in place in Punta Europa, coupled with investment funds for
development," Sylva said.

 

Additionally, the government noted that the project which envisions an
offshore gas pipeline development would create huge in-country local content
opportunities for pipeline and other infrastructure service providers.

 

This, it stated was in addition to accelerated royalty revenues that come
from producing many gas fields that would have otherwise remained stranded.

 

Minister of Mines and Hydrocarbons, Equatorial Guinea, Gabriel Nguema Obiang
Lima, in his remarks, stated that the execution of this MoU was a great
example of the South-south cooperation between neighbouring Nigeria and
Equatorial Guinea.

 

"As the global geopolitics of natural gas evolves and within the context of
the world transitioning to a lower carbon footprint, it is imperative that
we think differently on how to remain an important player in energy markets.

 

"New, fast, and competitive sources will be a major determinant of success.
This strategic collaboration breaks down geographical boundaries and allows
delivery of gas from Nigeria to Equatorial Guinea's Punta Europa facilities,
extending their life and providing access to the regional and global energy
markets.

 

"The NNPC and its JV partners get a unique opportunity to monetise gas that
would have otherwise been stranded offshore due to absence of
infrastructure," he stated.

 

According to the statement, as the world energy dynamics change, Nigeria
aims to adapt rapidly to ensure that it remains at the forefront of world
gas exporters.-This Day.

 

 

 

Nigeria: Oil Will Continue to Be Relevant Despite Conversations Around
Energy Transition - Govt

The federal government yesterday stated that despite global push for the
stoppage of the exploration of fossil fuels, crude oil would continue to be
relevant in the coming years.

 

Speaking on the third day of the Nigeria International Energy Summit (NIES)
tagged: "Revitalising the Industry: Future Fuels and Energy Transition," the
Minister of State, Petroleum said industry stakeholders must begin to drive
a new narrative, using gas as a transition fuel.

 

Stating that the oil and gas industry would face more scrutiny in their
operations and business models in the coming days, Sylva noted that
operators would have to explain more often the impact of their activities on
the environment.

In addition, he stated that their contributions to reducing greenhouse gas
emissions and their efforts towards achieving net-zero carbon emissions,
would be questioned more often.

 

"While we pursue the country's energy transition agenda, let us also
recognise that fossil fuels will continue to play a critical role in our
energy and economic systems.

 

"While the role may appear to be in contradiction with the energy transition
agenda, fossil fuels will still remain important and will remain integral
part of the vision in our energy transition journey," he explained.

 

Sylva stated that the federal ministry of petroleum resources, in discharge
of its mandate, would continue to be an enabler to make a seamless energy
transition in Nigeria happen.

 

He added that the federal government would continue to provide an enabling
environment to improve the oil and gas value chain, driven by modern
technology, industry, best practices, stakeholders' engagement and
innovations in alternative energy.

 

He urged stakeholders to come up with an accelerated energy transition
strategy for the country, look at the critical factors that could make them
happen and whether the factors relate to the government, society, policy
makers, technology, investors or the industry itself.

 

Quoting Dr. Fatih Birol, who is the Executive Director of International
Energy Agency, (IEA) Sylva noted that, "No energy company will be unaffected
by this energy transition," adding that "Every part of the industry needs to
consider how to respond since doing nothing is simply not an option."

 

The Group Managing Director, Nigerian National Petroleum Company (NNPC)
Limited, Mallam Mele Kyari, while speaking, stated that Nigeria must take
advantage of today's resources and then work towards the energy transition
target of 2060.

Stressing that the NNPC and partners were working to increase domestic crude
oil production, he added that in conjunction with the country's security
agencies, the unfavourable security situation was being sorted out.

 

He maintained that while energy transition remained real, the company was
looking at how it can increase the resources of today by getting more
investment and promote gas development.

 

Kyari maintained that the NNPC has a programme to take out the current flare
levels, noting that flaring of gas was going on in very many locations that
they shouldn't, "because we don't know what to do."

 

"Today, we are pulling resources together to take out these flares. At the
second level, any company which pegs flaring as part of its development
plan, will be disallowed. This is very practical," he noted.

 

According to the GMD, with the AKK project, the NNPC would deliver gas
throughout the nation of about eight to 10 billion scf, admitting however
that there were still pricing issues, which would be taken care by the
Petroleum Industry Act (PIA).

 

In his comments, a former Minister of Petroleum Resources and ExxonMobil
Executive, Dr. Ibe Kachikwu, stated that Nigeria must take full advantage of
its fossil fuel resources while they last.

 

While stating that the country does not have up to 30 to 40 years to do
that, he explained that Nigeria has a limited time to take advantage of its
resources.

 

He further said it was important to fast-track oil production and value
addition.

 

He pointed out that Nigeria needed to work very fast to rehabilitate the
refineries and then take the issue of gas production seriously, but
mentioned that the issues of funding, tax regime, among others, have to be
sorted out.

 

According to him, since developing gas has become more important than
developing crude, Nigeria needs to pay attention to the transition product,
gas, adding that in 10 to 15 years, the developed world will move away from
gas. According to him, while sale of assets is a fantastic opportunity,
Nigeria still needed the funding for major projects, adding however that the
country must not forget to celebrate the milestones it had made in the last
couple of years.

 

He noted that while opening up the oil sector was important, a situation
where one person has 10 to 15 blocks and refuse to develop them, while
holding just a certificate of occupancy, must be reviewed.

 

Managing Director of Chevron, Nigeria, Rick Kennedy, in his intervention,
stated that the country is endowed with everything to succeed in the energy
industry, including a young population of talented people.

 

Also, Managing Director, Nigeria NLNG, Philip Mshelbila, in his remarks,
explained that the company has reduced gas flaring from more than 65 per
cent to currently less than 20 per cent due to its de-carbonisation
programme.-This Day.

 

 

 

Uganda Reassures Unhappy Coffee Farmers After ICO Exit

Harare — Uganda has assured its coffee farmers and exporters that their
prized cash crop will still be in high demand in the international market
despite the country pulling out from an important coffee pact.

 

Coffee farmers in Uganda are protesting the decision by authorities not to
renew their membership to the International Coffee Organisation (ICO). They
fear that they could lose premium markets - especially in Europe - to which
the country exports about 80% of its total coffee produced, annually.

 

The government maintains it is negotiating better terms.

 

On February 17, 2022 the state-run Uganda Coffee Development Authority
(UCDA), a national regulator of the coffee industry, announced that it had
withdrawn from the International Coffee Agreement 2007, to protest what it
called an unfair trading system in the international coffee market.

 

The coffee regulator protested the agreement, saying it had become incapable
of addressing the challenges facing Uganda's coffee producers. Now it is
pushing for Uganda's unconditional market access for exporting not only
green beans but also processed coffee since selling value-added products can
increase farmers' incomes.

 

 

But some importing countries have imposed additional tariffs and
restrictions on the import of value-added coffee which has led to the
authority calling for the removal of these barriers in their withdrawal
statement.

 

"Uganda needs unconditional market access that allows for export of
value-added coffee, not only green coffee," the UCDA said in a statement.

 

This, authorities believe, will transfer more value to the farm gate through
promotion of value addition and domestic coffee consumption.

 

"The new coffee agreement should have increased focus on value addition with
protracted programmes that aim at transferring value to the farm gate," the
statement read.

 

 

In response to Uganda's withdrawal, the ICO says although there has been a
chance to update and reform the current agreement, Ugandan representatives
have not been actively participating in the process.

 

"In March 2019, the ICC, the highest decision-making body in the
organisation, established a Working Group on the Future of the International
Coffee Agreement (WGFA) to update and reform the current agreement.
Participation in the WGFA is open to all ICO Members. Nevertheless, Ugandan
representatives have not been actively participating in this process and
have never submitted any proposal for change based on their vision and
interest, nor on the issues raised in the UCDA statement of February 9,
2022," the ICO said in a statement.

 

The ICO is the main intergovernmental organisation for coffee, bringing
together exporting and importing governments to tackle the challenges facing
the world coffee sector through international cooperation. Its member
governments represent 98% of world coffee production and 67% of world
consumption.

 

Coffee output in Uganda has been rising in recent years on the back of
aggressive planting programmes that have expanded acreage covered by the
crop.

 

 

 

Rwanda: How Rwanda's Data Protection, Privacy Law Will Benefit Users

Last week, Rwanda joined seven other Digital Cooperation Organization (DCO)
member states to push for developed privacy and user terms that protect user
data and ensure that data use aligns with informed user consent.

 

The appeal to global technology companies and governments was described as
an 'urgent call' especially with numbers showing that almost half of global
data breaches involved personal user data.

 

Several privacy standards issues to be addressed, including ensuring that
data is used in line with the informed user consent, is not transferred to
third parties that breach member state privacy regulations, and enables
users to migrate or remove their data from platforms were identified.

The call came a few months after Rwanda enacted a data protection law that
stipulates that data processors, data controllers and all users of personal
data will be required to be fully equipped with all aspects of compliance
within 24 months, by October 2023.

 

Speaking to The New Times in an exclusive interview, Minister of ICT and
Innovation Paula Ingabire spoke out on some of the highlights that could
plug the gap in protecting users from the misuse of personal information.

 

Sanctions now applicable

 

According to Minister Ingabire the data protection and privacy law empowers
individuals with rights that are protected under the law, such as consent,
right to erasure, etc, a practice that she said, didn't exist before in
Rwanda's jurisdiction.

 

"On the other hand, it imposes requirements on those that process data, to
ensure it is done in a secure manner, and when it is not, sanctions can be
enforced, which wasn't the case before."

 

Ingabire maintained that the law fundamentally changes the way data is
protected- from collection, processing to destruction - throughout the
entire data life cycle.

 

"First, it legally mandates organizations to put in place technical and
organizational measures to ensure protection - technical measures here
include encryption, secure storage in-country, pseudo-anonymisation, while
organisational measures include internal protection and privacy policies,
trainings and other processing procedures."

 

Consequently, she pointed out, by conforming to the law there is a mandatory
legal requirement which enforces security behavior, for instance, mandatory
reporting of data breaches.

 

"Besides provisions that mandate protection, the law also offers benefits to
complying organizations - trust is established once data subjects understand
how they data is protected and used."

 

Major milestone

 

Rwanda's DPP law establishes a predictable, globally accepted benchmark of
protecting personal data- a vital ingredient in data enabled economy.

 

"DPP law is a major milestone in realizing a modern, data enabled economy,"
she added.

 

Meanwhile, Ingabire highlighted that data protection extends to enhance
cyber security, which is already a regulated requirement for risk management
by bodies such as the Central Bank, among others.

 

"Hence, financial institutions that comply with DPP law will find it easy to
meet other Cybersecurity regulatory requirements by sector specific
regulators."-New Times.

 

 

 

Apple to halt sales and limit services in Russia

Apple has become the latest major firm to halt all product sales in Russia,
in a widening corporate backlash to the country's invasion of Ukraine.

 

The iPhone giant said it was "deeply concerned" about the Russian invasion
and stands with those "suffering as a result of the violence".

 

Apple Pay and other services such as Apple Maps have also been limited.

 

Google has also removed Russian state-funded publishers such as RT from its
features.

 

Mobile banking apps in Russian, such as Russia's VTB Bank's app, may soon
not function fully on devices using Apple's iOS operating system, according
to news agency RIA.

 

What sanctions are being imposed on Russia?

What is Swift and why is banning Russia so significant?

Apple said in a statement that the firm had disabled both traffic and live
incidents in Apple Maps in Ukraine as a "safety and precautionary measure
for Ukrainian citizens".

 

 

Last week, Ukrainian Vice Prime Minister Mykhailo Fedorov published an open
letter to Apple on Twitter, in which he asked Apple to cut Russia off from
its products, services, and App Store.

 

 

Earlier, Google restricted news firms funded by the Russian government from
advertising tools and some features on YouTube.

 

"We are committed to complying with all sanctions requirements and we
continue to monitor the latest guidance," the company wrote in a blog post.

 

The company also told the BBC that Google Pay had been limited in the
country - for those using sanctioned banks. Google has not, however, blocked
Google Pay in Russia.

 

Google also said "most of our services (like Search, Maps and YouTube)
currently remain available in Russia, continuing to provide access to global
information and perspectives."

 

Apple is generally fairly good at keeping its head down when it comes to
global affairs.

 

For example, it has faced criticism for not standing up to China over its
treatment of Uyghurs.

 

This move then is significant, and unusual, by the iPhone maker.

 

One by one global brands have been moving to distance themselves from Russia
- making the country look more and more isolated.

 

But it was by no means certain that Apple would make this move. The company
had started to receive criticism for its relative silence on Ukraine.

 

The BBC had reached out to Apple for comment, but had not received a reply
until this announcement.

 

There are many phone companies in Russia, and plenty of alternatives to
Apple products.

 

People with iPhones will also still be able to use the App Store - the pause
in sales will not have a huge immediate impact.

 

But as brands desert Russia, its citizens will begin to notice that products
they used to buy, simply aren't available anymore.

 

Meanwhile, the Finnish network equipment maker Nokia said it would stop
deliveries to Russia to comply with sanctions imposed on the country
following the invasion of Ukraine.

 

On Monday, Netflix also said it had "no plans" to add state-run channels to
its Russian service. Russian regulations had required it to carry 20
free-to-air news, sports and entertainment channels in the country.

 

US sportswear giant Nike has also paused sales in Russia. An update to the
company's website showed that purchases online and on the app were
unavailable in Russia because the firm said it could not guarantee delivery
of goods to the country.

 

However, the website update directed customers to their nearest Nike stores.

 

The biggest shipping firms in the world, Danish Maersk and Geneva-based MSC,
also suspended container shipping to and from the country on Tuesday. The UK
has also banned ships from Russia in its updated sanctions.

 

Russia supplies a sixth of the world's commodities so will now be cut off
from a significant part of shipping trade.

 

Motorbike firm Harley-Davidson also suspended business and shipments of its
bikes to Russia.

 

And US plane manufacturer Boeing Co said on Tuesday it was suspending parts,
maintenance and technical support for Russian airlines - as well as major
operations in Moscow after Russia's invasion of Ukraine.-BBC

 

 

 

Ukraine conflict: ExxonMobil and Boeing take action over Russia ties

Energy giant ExxonMobil and aviation group Boeing have joined the growing
list of companies to take action over Russia's invasion of Ukraine.

 

ExxonMobil said it will exit a multi-billion dollar joint venture with
Russian state-owned company Rosneft.

 

It is the latest oil producer to cut business ties with the country, after
similar moves by BP, Shell and Equinor.

 

Meanwhile, the world's biggest plane maker Boeing said it is suspending
operations in Russia.

 

"We deplore Russia's military action that violates the territorial integrity
of Ukraine and endangers its people," Texas-based ExxonMobil said in a
statement.

 

"We are deeply saddened by the loss of innocent lives and support the strong
international response," it added.

 

ExxonMobil currently operates and holds a stake in the Sakhalin Island oil
and gas fields, alongside Rosneft and companies from Japan and India.

 

It said it would now exit its Russian oil and gas operations, which have
been valued at more than $4bn (£3bn), and halt new investments in the
country.

 

Last year, ExxonMobil employed more than 1,000 people across the country,
with offices in Moscow, St. Petersburg, Yekaterinburg and Yuzhno-Sakhalinst,
according to its website.

 

Russia is one of the world's biggest energy producers.

 

The announcement came as Brent crude - the international benchmark for oil
prices - hit $110 a barrel, marking the highest level seen in more than
seven years.

 

We issued the following statement regarding the situation in Ukraine today.
https://t.co/TVF1yL3Ga6 pic.twitter.com/d29DWVEzDz

 

On Monday, rival energy giant BP said it would offload its 19.75% stake in
Rosneft after Russia's "act of aggression in Ukraine".

 

On the same day, Shell announced that it would end all of its joint ventures
with the Russian energy company Gazprom. This includes quitting the flagship
Sakhalin II facility, which is partly owned and operated by Gazprom.

 

Norwegian oil producer Equinor also said it would start the process of
divesting from its joint ventures in Russia.

 

Also on Wednesday, aviation giant Boeing said it had suspended "major
operations" in Moscow and temporarily closed its office in Kyiv.

 

"We are also suspending parts, maintenance and technical support services
for Russian airlines," a Boeing spokesperson told the BBC.

 

Rival plane maker Airbus did not immediately respond to a BBC request for
comment.

 

The announcements comes as brands around the world distance themselves from
Russia as its invasion of Ukraine continues.

 

On Tuesday, Apple also joined the list of major firms to halt product sales
in Russia, in the widening corporate backlash over the conflict.

 

American Express also said on Wednesday that it had halted its relationships
with banks in Russia, in line with sanctions.

 

The payment card company described its business in Russia as "small", with
one partner that issues cards and a handful focused on recruiting merchants.

 

"We will continue to comply with all relevant laws as the situation
evolves," it said in a statement.-BBC

 

 

 

Russian oligarch Fridman warns sanctions will not stop war

One of Russia's richest men has said imposing sanctions on oligarchs would
have no impact on Moscow's decision to launch a war in Ukraine.

 

Billionaire banker Mikhail Fridman told a press conference in London the war
was a tragedy for both sides.

 

But he stopped short of direct criticism, saying personal remarks could be a
risk not just to himself but also staff and colleagues.

 

He joins another businessman, Oleg Deripaska, in calls for peace.

 

The two men are the most prominent oligarchs to speak out against Russia's
invasion, now in its sixth day.

 

The UK also sanctioned Belarusian military chiefs on Tuesday for their role
in "abetting" the Russian invasion of Ukraine.

 

The Foreign Office said the Belarusian military has "supported and enabled
the Russian invasion of Ukraine" and has also sanctioned some of its state
manufacturing firms.

 

The Belarus sanctions are on top of those already applied on Minsk by the UK
since 2020 when over 100 people and organisations were targeted in response
to the fraudulent elections in Belarus.

 

What sanctions are being imposed on Russia?

Born in Ukraine before the break-up of the Soviet Union, Mr Fridman was the
founder of Russia's biggest private bank, Alfa, and runs investment firm
LetterOne which has extensive interests in oil and retailing.

 

The billionaire said the sanctions, which freeze some assets and impose a
travel ban, were unjustified and he would fight them.

 

But he added the sanctions would, in any case, not have the desired effect
of helping to rein in the Kremlin.

 

He said: "My parents always told me: you know, because you are a Jew, you
could not be in this position or that position, in this university or this
job.

 

"Now, I'm facing the same situation here in the West, because you are
Russian."

 

'Sensitive issue'

On Monday, the European Union slapped sanctions on Mr Fridman, who lives in
London, and long-time partner Pyotr Aven.

 

The EU statement described Mr Fridman as "a top Russian financier and
enabler of Putin's inner circle".

 

Mr Fridman said the conflict in Ukraine should end as soon as possible, but
avoided questions about outright condemnation of President Vladimir Putin's
actions.

 

"Please, don't push me to comment," he said, adding it would be not just "my
personal risk, but also a risk for my colleagues and staff".

 

He said his companies had tens of thousands of staff in Russia, Ukraine and
the UK. "It's a very sensitive issue. We have a dozens of partners and I do
not have a right to put all of them at risk."

 

Mr Deripaska, who founded one of Russia's largest industrial groups, has
also pleaded for peace in a post on the messaging app Telegram.

 

Russian billionaire oligarchs do not give many press conferences.

 

In some Western circles, the mere sight of banker and industrialist Mikhail
Fridman defending himself after being sanctioned by the EU, shows the
strategy of squeezing Russia financially is having the desired impact.

 

Mr Fridman, who was born in Ukraine, said sanctions were having a drastic
impact on the Russian economy, and called for an end to the conflict - but
said he had no influence over the actions of President Putin.

 

The founder of Alfabank said when asked if there was a bank run in Russia,
that there was huge pressure on the Russian currency the rouble. He said
many Russians were going to banks to withdraw roubles to convert into
dollars because of dramatic moves in value, to keep hard currency "under the
mattress".

 

But he feels the EU is treating him unfairly and without due process, that
he should be sent back to Russia, for having been born in the former Soviet
Union. And tellingly, while wishing for the war to end, he said journalists
could not expect him to criticize President Putin, given the risk to his
staff in Russia and Ukraine.

 

-BBC

 

 

 

Ukraine conflict: Oil hits $110 a barrel despite emergency measures

Oil prices have surged despite new measures aimed at calming markets worried
by the invasion of Ukraine.

 

Brent crude - the international benchmark for oil prices - has hit $110 a
barrel, marking the highest level seen in more than seven years.

 

It rose even after the International Energy Agency's members agreed to
release 60 million barrels of oil from emergency stockpiles.

 

Russia is one of the biggest energy producers in the world.

 

As a result, concerns about Russia's invasion of Ukraine have sparked
concerns among investors that oil or gas supplies could be affected.

 

Meanwhile, the price of US oil - West Texas Intermediate crude - rose to
almost $109 a barrel.

 

The United States and 30 other member countries of the International Energy
Agency (IEA) agreed to release the oil in a bid to stabilize energy markets
worldwide.

 

"We are prepared to use every tool available to us to limit disruption to
global energy supply as a result of President Vladimir Putin's actions,"
White House spokeswoman Jen Psaki said on Tuesday.

 

She added that Washington would carry on looking at how to speed up moving
energy supplies away from Russia.

 

Another statement by the IEA noted that the invasion of Ukraine came against
a "backdrop of already tight global oil markets, heightened price
volatility, commercial inventories that are at their lowest level since
2014".

 

Petrol price movements in the UK are mainly determined by the price of crude
oil, which is the raw material for fuel, and the exchange rate between the
dollar and the pound, because oil is traded in dollars.

 

On Monday, the RAC said the average price of petrol had jumped to a record
high of £1.51 a litre on Sunday, while diesel increased to £1.55.

 

Jay Hatfield, chief investment officer at ICAP, said the "dramatic" price
increases seen globally were unlikely to persist though if the situation in
Ukraine becomes more stable.

 

Share prices across Europe and the US also fell further on Tuesday as
attacks on cities in Ukraine continued.

 

Markets in US, Europe and UK fell amid fears about the impact of the ongoing
conflict.

 

Having been up in early trading, the FTSE 100 turned negative amid the
warnings of the consequences of Western sanctions on Moscow and signs that
Russia was stepping up its invasion of Ukraine.

 

Western countries have imposed punishing sanctions against Moscow, with
another raft of companies winding down Russian operations and halting
investment, such as BP and Shell.

 

Italian energy giant Eni also said it planned to sell its stake in the Blue
Stream pipeline. Eni co-owns the pipeline, which carries Russian gas to
Turkey, with Russian energy firm Gazprom.

 

Meanwhile, French oil and gas group TotalEnergies said it would no longer
provide capital for new projects in Russia on Tuesday.

 

Frankfurt saw steeper losses, which analysts suggested could be linked to
Germany's reliance on Russian energy imports.

 

Russia's currency was stable, however, having collapsed 30% on Monday to
record lows against major currencies. One rouble was worth less than one US
cent in trading on Tuesday.

 

The rouble's fall cuts its buying power and hits savings of ordinary
Russians. The decline was only halted when Russia's central bank doubled
interest rates to make the currency more attractive to investors.

 

The sanctions' stranglehold on Moscow's finances has hit the central bank's
access to a lot of Russia's huge reserves of money held in the form of
foreign currencies.

 

Sophie Lund-Yates, equity analyst at Hargreaves Lansdown, said: "This is a
fast-moving situation and investors should be mindful of potential share
price volatility in the short to medium term."

 

Russia's invasion of Ukraine has investors on edge.

 

There is a huge amount of uncertainty about what is likely to happen next,
and you can see that in the volatility on markets.

 

Western sanctions on Russia have caused turmoil in the global banking
sector, with firms scrambling to ensure they're not doing business with any
sanctioned individual or company.

 

European and US asset managers who are keen to offload their Russian
investments may find it difficult to do so with the Moscow stock exchange
currently closed and talk that the Kremlin will prevent foreigners from
selling up.

 

That - together with the lack of revenue from Russian customers - could mean
lower profits for western companies, from energy giants to carmakers to
investment funds.

 

Sanctions can hurt both sides, not just the sanctioned.

 

But many company bosses are clear - decisions are being made, not simply
about money, but on moral grounds too.

 

Meanwhile, the war continues to unsettle the energy markets, with the price
of oil now well over $100 a barrel.

 

An announcement that large stockpiles of crude will be released would
ordinarily send prices lower.

 

Today's news, however, has done nothing to ease market concerns about the
potential for shortages of oil from Russia.-BBC

 

 

 

Ship carrying 4,000 luxury cars sinks off the Azores

A cargo ship that was carrying thousands of luxury cars has sunk off the
Portuguese Azores archipelago, nearly two weeks after it caught fire.

 

The ship, named Felicity Ace, was transporting around 4,000 cars such as
Porsches and Bentleys.

 

The vessel was on its way to Rhode Island in the United States from the
German port of Emden when the fire broke out.

 

All of its crew members were evacuated when the fire broke out on February
16.

 

Joao Mendes Cabecas, the captain of the nearest port on the island of Faial,
told Reuters that no oil leak had been reported so far but said there were
fears the fuel tanks could be damaged while the vessel lies at the bottom of
the Atlantic at a depth of around 3,500 metres (2.17 miles).

 

Toyota to close Japanese plants after cyber-attack

Portugal's navy said no one was hurt by the fire and that the 22 crew
members were taken to a hotel after the navy, four merchant ships sailing in
the area and the Portuguese Air Force completed the evacuation.

 

Volkswagen said the damage to the vehicles was covered by insurance which
could cost around $155m (£116m) according to Reuters.

 

Bentley confirmed that 189 of its cars were onboard the ship and Porsche
said it had about 1,100 of its models onboard.

 

One customer tweeted to say his Porsche was on board the abandoned ship.

 

Another tweeted that his had been reordered.-BBC

 

 

 

Ukraine conflict: Jaguar Land Rover pauses car sales to Russia

Jaguar Land Rover (JLR) says it has paused the delivery of its cars to
Russia due to "trading challenges".

 

The car maker, which has its headquarters in Coventry and plants in Castle
Bromwich and Solihull, sold 6,900 vehicles to Russia last year.

 

It is thought sanctions imposed by the UK, the EU and the US are making it
difficult for JLR to sell cars into the market.

 

The company did not give further details.

 

In recent days global corporations, including car makers and energy giants,
have cut business ties with Russia.

 

A JLR spokesperson said in a statement its priority was "the wellbeing of
our entire workforce and their families, as well as those within our
extended network".

 

"The current global context also presents us with trading challenges, so we
are pausing the delivery of vehicles into the Russian market and continually
monitoring the situation on behalf of our global customer base," it said.

 

Britain's biggest car manufacturer, owned by Indian company Tata Motors, has
a European manufacturing facility based in Slovakia.

 

Swedish-based Volvo also said it would stop delivering cars to Russia until
further notice.

 

JLR does not have any manufacturing sites in Russia nor Ukraine.-BBC

 

 

 

 

 

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

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INVESTORS DIARY 2022

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


ART

PPC

 

 


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
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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
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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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