Major International Business Headlines Brief::: 23 January 2024

Tue Jan 23 11:39:27 CAT 2024

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Major International Business Headlines Brief:::  23 January 2024 

ü  Africa: Meta - Protect LGBT People From Digital Targeting

ü  South Africa: Have Your Say On National Budget

ü  Seychelles: Esaamlg Holds Training in Seychelles for Anti-Money Laundering Assessors

ü  Nigeria: Lekki Deep Seaport Berths Another Large Container Vessel

ü  South Africa: 70 Petrol Stations Busted Selling Dodgy Diesel - South African News Briefs 

ü  Rwanda: Going Paperless - How Much Could Rwanda Save?

ü  Kenya: 7 in 10 Kenyans Struggling to Survive, Infotrak

ü  Rwanda: How Green Building Is Cost-Effective, Guarantees Long-Term Savings

ü  Ghana Wants to Make Importing Food Like Rice and Tomatoes More Costly - Expert Explains Why It's a Bad Idea

ü  Rwanda: Why Animals Should Not Be Stressed Before Slaughter

ü  United Airlines to lose money over Boeing groundings

ü  Tencent's Riot Games cuts 11% of global workforce

ü  Sony calls off merger with India media giant Zee

ü  MrBeast reveals he made $250,000 from X video

ü  Cryptocurrency firm Terraform Labs files for bankruptcy in US

 <https://www.cloverleaf.co.zw/> Africa: Meta - Protect LGBT People From Digital Targeting

Beirut — New #SecureOurSocials Campaign Urges Transparency from Facebook, Instagram

Meta should do more to protect the safety of lesbian, gay, bisexual, and transgender (LGBT) people and all its users, in particular on Facebook and Instagram, Human Rights Watch, Social Media Exchange (SMEX), INSM Foundation for Digital Rights, Helem, and Damj Association said in the #SecureOurSocials campaign opened today.

The campaign, building on the work of various human rights organizations, is based on a February 2023 Human Rights Watch report, "'All This Terror Because of a Photo': Digital Targeting and Its Offline Consequences for LGBT People in the Middle East and North Africa." Human Rights Watch examined the use of digital targeting by security forces and its far-reaching offline consequences--including arbitrary detention and torture--in five countries: Egypt, Iraq, Jordan, Lebanon, and Tunisia. The findings showed that security forces use social media platforms, including Facebook and Instagram, to entrap and harass LGBT people, as well as to gather and create evidence to prosecute them.

"As the largest social media company in the world, Meta should be a global leader in making social media safe for everyone," said Rasha Younes, acting LGBT rights deputy director at Human Rights Watch. "When LGBT people, who already face insecurity offline, use Facebook and Instagram for connection and organizing, they deserve certainty that Meta is doing everything in its power to ensure their security."

Based on Human Rights Watch research and civil society recommendations, the #SecureOurSocials campaign aims to engage Facebook and Instagram to be more transparent and accountable by publishing meaningful data on investment in user safety, including regarding content moderation in the MENA region and around the world.

LGBT people Human Rights Watch interviewed reported losing their jobs; being subjected to family violence, including conversion practices; having to change their place of residence and even flee their country; and experiencing severe mental health consequences as a result of being targeted online, including on Facebook and Instagram.

Human Rights Watch interviewed dozens of LGBT people who indicated that they had reported being harassed, doxxed, outed, and abused on Facebook and Instagram, but in all these cases, Meta either did not respond to their complaints or found that the content they reported did not violate its policies, and the content remained online.

To help spread awareness on the topic, Human Rights Watch partnered with Lebanese drag pioneer Anya Kneez to create an explainer video and developed an awareness guide sharing tips on how LGBT people can stay safe online when using social media applications like Facebook and Instagram.

While Meta's policies and standards prohibit many forms of online abuse, the company frequently falls short in consistently applying these rules on its platforms, Human Rights Watch said. As a result, content targeting LGBT people sometimes remains on Facebook and Instagram even when it violates Meta's policies, while the platform removes other content, including documentation of human rights abuses.

In a December 2023 report, Human Rights Watch documented various forms of censorship on Instagram and Facebook affecting posts and accounts documenting and condemning human rights abuses and raising awareness in support of Palestine and Palestinian human rights.

#SecureOurSocials provides a variety of solutions for Meta to keep LGBT people safe on its platform and asks Meta to disclose its annual investment in user safety and security, including reasoned justifications explaining how trust and safety investments are proportionate to the risk of harm, for each region, language, and dialect in the Middle East and North Africa. Human Rights Watch also published a question and answer document that details the campaign's objectives, its recommendations to the company, and explains its focus on Meta.

Human Rights Watch has been in discussions with Meta staff about its concerns for months. In addition, Human Rights Watch sent a letter on February 2, 2023, to Meta's human rights department, which posed specific questions that had stemmed from the research and listed the report's findings before publishing its digital targeting report. Meta declined to provide a written response, though it continued to engage with Human Rights Watch on these issues.

On January 8, 2024, Human Rights Watch sent another letter to Meta to inform the company of the campaign and solicit its perspective.

Social media companies have a responsibility to respect human rights, including the rights to nondiscrimination, privacy, and freedom of expression. They should avoid infringing on human rights. They should also identify and address human rights impacts arising from their services, including by providing meaningful access to remedies, and communicate the steps they take to address these impacts.

When moderating content on its platforms, Meta's responsibilities include taking steps to ensure its policies and practices are transparent, accountable, and applied in a consistent and nondiscriminatory manner. Meta is also responsible for mitigating human rights abuses perpetrated against LGBT people on its platforms while respecting the right to freedom of expression.

As powerful as social media companies are, governments are the primary duty bearers responsible for protecting human rights, Human Rights Watch said. Governments in the MENA region should respect and protect the rights of LGBT people instead of criminalizing their expression and targeting them online. They should introduce and enforce laws protecting people against discrimination on the grounds of sexual orientation and gender identity, including online.

"Meta has underinvested in user safety and underestimated the role its platforms play in facilitating abuses against LGBT people in the region," Younes said. "Meta should always be accountable for the security of users on its platforms, but especially when it can protect them from egregious harm."

- HRW.

South Africa: Have Your Say On National Budget

Minister of Finance Enoch Godongwana has called on South Africans to share their suggestions on the National Budget.

The Minister will deliver the National Budget Speech in February 2024.

People may submit their views on municipal finances, spending priorities of government, addressing a large budget deficit, stabilising state-owned entity finances, managing the energy crisis, tax revenues and debt sustainability.

The closing date for submissions is 11 February 2024.

"The budget allocation aims to strike a balance between growing the economy and supporting the vulnerable amid limited resources. It is in this context that Minister Godongwana invites South Africans to share their suggestions on the Budget. Minister Godongwana looks forward to your contributions," the Ministry of Finance said on Monday.

Contributions can be sent through via the National Treasury website here: https://bit.ly/3ruszsi.

Citizens are encouraged to keep contributions concise and to the point.

The Ministry of Finance has urged those on social media to tag them on its social media accounts using the hashtag #TipsForMinFin and #Budget2024:

X - Treasury_RSA

LinkedIn - National Treasury RSA

TikTok - @TreasuryRSA

facebook - National Treasury RSA

- SAnews.gov.za.

Seychelles: Esaamlg Holds Training in Seychelles for Anti-Money Laundering Assessors

The Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) has partnered with Seychelles to beef up the pool of in-country assessors who can ensure that progress is being made to prevent money laundering in the country.

The secretary of state for finance, Patrick Payet, who chairs the Anti-Money Laundering and Countering the Finance of Terrorism (AMLCFT) committee, said that out of the 40 recommendations Seychelles received from the Financial Action Task Force (FATF); the country is compliant with 34 and non-compliant to six.

This is an improvement following the result of Seychelles' report in 2018 where the island nation was non-compliant with 20 recommendations.

The FATFs' website states that these recommendations set out a comprehensive and consistent framework of measures that countries should implement to combat money laundering and terrorist financing, as well as the financing of the proliferation of weapons of mass destruction.

"We requested the ESAAMLG to provide training for a group of our Seychellois professionals. Normally they hold these trainings overseas and with several countries together. They don't often accept these requests; to provide in-country training, so it is a privilege to have them here with us," said Payet.

The week-long training will provide the 40 prospective assessors from different government organisations with the tools to help out during the next mutual evaluation assessment.

"They will be able to advise the heads of institutions on whether there are still any deficiencies regarding the FATF recommendations. This will help Seychelles be ready and able to defend its report in 2027 at the end of the assessment process. It is a cycle, every few years they analyse how institutions have evolved along with the recommendations," he added.

The secretary of state said that through this training, these prospective assessors can even do assessments in the region as well. "Oftentimes, the ESAAMLG or FATF will ask a country to send assessors to assess another country; so, we will now have a bigger pool of people to choose from that we can send. In turn, they gain more expertise," he explained.

He also emphasised the need for all relevant organisations to work together to implement AMLCFT in Seychelles.

"The report will not only look at the policy and laws in place, it will also look at the effectiveness of these laws. This is what we intend to work on this year, so that come 2027 we can show statistics that the work we've done has been effective and that we are serious about AMLCFT," said Payet.

The director of the Financial Intelligence Unit (FIU), Richard Rampal, said the recommendations set by the FATF are quite complex and that an assessor must be knowledgeable about the different laws and international standards that concern AMLCFT.

"I am also a trained assessor, I did it in 2011. It has helped me in my career, especially at the FIU, where I knew what requirements were necessary to ensure that the institution is effective. It is a value chain. It starts with preventive measures then it goes to the FIU where reports about money laundering are analysed, then it is escalated to investigators who look at the case more in-depth to bring it in front of the attorney general for prosecution," he said.

- Seychelles News Agency.

Nigeria: Lekki Deep Seaport Berths Another Large Container Vessel

The Lekki Deep Seaport has berthed the largest container carrier to sail on Nigerian territorial waters on Sunday 21st January, 2024.

The vessel measuring 367M in length and christened 'Maersk Edirne' has a Breadth of 48.2 and carried a Gross Registered Tonnage (GRT) of 142,131metric tonnes and a Deadweight Tonnage (DWT) of 147,340 metric tonnes, constituting 3,376 total cargo onboard.

Before this time, the largest commercial vessels to sail on Nigerian waters were "MV Stadelhorn" and "MSC Maureen" at Onne Port and TinCan Island Port Complexes respectively.

The Managing Director / CEO Nigerian Ports Authority, Mr. Mohammed Bello Koko has said the Lekki Deep Seaport has by this feat in addition to its pioneering of full automation and facilitation of transhipment proven its readiness to exceed stakeholders' expectations.

- Daily Trust.

South Africa: 70 Petrol Stations Busted Selling Dodgy Diesel - South African News Briefs - January 22, 2023

A Department of Mineral Resource and Energy investigation has revealed that 70 petrol stations across South Africa are selling adulterated diesel, indicating a trend of profiteering by cutting corners as petroleum prices rise, reports News24. The compromised diesel is allegedly mixed with illuminated paraffin, posing tax evasion implications, according to the department. Mineral Resource and Energy Minister Gwede Mantashe had previously warned against the illegal practice, stating that service stations found with adulterated diesel would face closure and prosecution. Between April and December 2023, 70 petrol stations were identified as selling fake diesel, with failed samples showing contamination with illuminating paraffin. The department has issued non-compliance notices and reports offenders to the South African Revenue Service (SARS) for tax evasion. The affected petrol stations are distributed across various provinces, raising concerns about the potential impact on vehicles and emphasizing the dangers of mixing fuels.

Ramaphosa's 2019 Promise of Bullet Trains and Smart Cities Gains 'Practical Attention'

President Cyril Ramaphosa has reiterated his commitment to fulfilling his 2019 promise of implementing high-speed trains and smart cities in South Africa, reports News24. However, despite planning efforts, no concrete progress has been made, leaving the ambitious vision as just an idea on paper. Ramaphosa detailed the developments in response to a parliamentary question, stating that the Department of Transport had established a high-speed rail framework, prioritizing the Johannesburg-to-Durban corridor for a feasibility study. The Cabinet approved the framework on November 1, 2023, aiming to establish a high-speed rail project management office. Additionally, Ramaphosa highlighted the Lanseria Smart City project, intending to create a smart city for 350,000 to 500,000 people by 2030, with a focus on infrastructure development and land acquisition. Despite these announcements, skepticism persists as the country grapples with more immediate challenges.

Late Goalkeeper Senzo Meyiwa's Murder Trial Set to Resume

The Senzo Meyiwa murder trial is set to resume in the High Court in Pretoria after a two-month postponement due to the illness of one of the legal representatives, reports SABC News. Five men are facing trial for the murder of the former Bafana Bafana Captain. Police Investigating Officer Brigadier Bongani Gininda is expected to return to the stand. Last year, the trial faced a delay when Advocate Thulani Mngomezulu, representing two of the accused, fell ill, prompting a postponement. The proceedings were last focused on the warrant of arrest for accused 1, Muzi Sibiya, with Mngomezulu conducting the cross-examination of lead investigator Brigadier Bongani Gininda. The trial within a trial is addressing the admissibility of confession statements.

South Africa's Logistics Woes Push Exports to Rival Ports

South African exporters are increasingly diverting from the country's beleaguered rail and harbor logistics in favour of alternative routes to ensure timely and efficient product delivery to markets, according to experts, reports Moneyweb. The new Lobito Atlantic Railway corridor has facilitated the swift arrival of copper from the Kamoa-Kakula copper fields in the Democratic Republic of Congo to Angola's Lobito harbor, cutting transportation time significantly compared to the usual trucking to Durban. The Angolan and DRC governments expedited the railway project, possibly in response to South Africa's logistics challenges. The move reflects a broader trend of neighboring countries seeking alternatives to South African export routes due to inefficiencies, with the Lobito corridor serving as a notable example. Experts emphasize the need for South Africa to focus on reviving its rail system and improving logistics for key exports like coal, iron ore, and manganese.

More South African news

Rwanda: Going Paperless - How Much Could Rwanda Save?

Rwanda is expected to save billions of money as it pushes the implementation of a cashless economy and paperless policies.

One of the key sectors that were made paperless is the land registry whereby e-titles [electronic land titles] were introduced.

A new system to help landowners access land titles online was launched in 2023 to reduce cost and time.

More than 10 million land titles in paper were supported to be accessed in digital format.

Marie Grace Nishimwe, Director General of the National Land Authority (NLA), told The New Times that so far, "866,130 electronic land titles have been downloaded by land owners."

"This will save money annually that was being spent on printing. We have not done all the calculations, but printing templates was about Rwf11 million per year. Without costing other things that go with it," she said.

There are currently 11.5 land titles in the land registry system.

"All landowners could access the e-titles. Many of them do not need it currently because they are not transacting, or they still have their physical land titles," she noted.

Previously, the issuance of land titles was done on printed certificates, which came at a cost due to printing expenses, and paperwork. For each new title, someone had to pay Rwf5,000.

Paper is also a significant source of greenhouse gas (GHG) emissions, which can be eliminated by going "paperless" to save the environment.

Savings from cashless economy

In 2017, the central bank embarked on a countrywide sensitisation campaign to raise awareness among the business community, professional groups, and the general public about the benefits of embracing electronic payment (e-payment) facilities.

The drive is part of efforts to deepen the use and access to e-payment systems like credit cards and e-wallets and hence fast-track the realisation of Rwanda's goal of being a cashless economy.

According to central bank estimates, the business community was losing up to 6 per cent in transactions done using hard cash as opposed to only 2 per cent loss incurred when transacted electronically.

The central bank spends $2.3 million annually on the printing cost of banknotes and coins for the country.

The bank also incurs around $17.5 million every year related to cash handling, counting, processing, and transporting.

- New Times.

Kenya: 7 in 10 Kenyans Struggling to Survive, Infotrak

Nairobi — Seven in 10 Kenyans are struggling to make ends meet, a new survey shows, highlighting the impact high inflation is having on the country.

Data from Infotrak shows that 73 percent of Kenyans are currently facing severe economic hardship.

While 55 percent of them are struggling to get by, 18 percent reported financial distress, with only five percent managing the situation.

78 percent of North Eastern residents are in financial distress, followed by the Coast (76 percent), Central (74 percent), and Rift Valley (73 percent).

Kenya's inflation dropped to 6.6 percent in December last year from 6.8 percent in November, according to the Kenya National Bureau of Statistics (KNBS) data.

To live by, they have been forced to take side hustles and cut their daily spending.

- Capital FM.

Rwanda: How Green Building Is Cost-Effective, Guarantees Long-Term Savings

There are quite many reasons as to why Rwanda chose to go green and they include the need to save the planet, and decrease building operation costs (energy and water), according to experts.

Green building, a resource-efficient method of construction that produces healthier buildings which have less impact on the environment and cost less to maintain, involves the application of processes that are environmentally responsible and resource-efficient throughout a building's life-cycle. By and large, green buildings are considered to be environmentally sustainable and economically profitable.

Sylvie Mubagekazi, the Chief Executive of the Clean Production and Climate Innovation Center (CPCIC), explained that in the global supply chain, the costs of solar and wind power, in particular, have been declining steadily over the years, making these sources more competitive as compared to traditional fossil fuels.

Established under the Nation Industrial Research and Development Agency (NIRDA), the CPCIC works to ensure that all technology, processes, and services by the private and the public sector embrace the best practices in terms of climate change resilience and cleaner or efficient production.

Mubagekazi noted that the initial investment cost for incorporating cleaner production technologies in green buildings can be relatively high. However, it's important to view these investments as long-term strategies that offer various benefits overtime. While the initial costs may be higher, many cleaner production technologies offer long-term savings through reduced energy consumption, lower operational costs, and potentially increased property value, she explained.

She said: "Beyond financial considerations, investing in cleaner production technologies contributes to environmental sustainability. Many organizations and individuals are increasingly prioritisng sustainability, and green buildings aligned with these values."

She explained that as technology advances, the costs of cleaner production technologies tend to decrease. Continuous innovation and improvements in manufacturing processes can result in more affordable options for implementing sustainable solutions.

As noted, savings from implementing cleaner production technologies in buildings vary depending on factors like size of building, adopted technologies, efficiency of the technologies.

For example, an increase in room temperature of 10°C can increase the heating fuel consumption by 6 to 10 per cent.

"Installing automatic lighting controls (timers, daylight or occupancy sensors) saves 10 to 25 per cent of energy. Switching off one tonne window air conditioner for one hour daily during lunch hour avoids consumption of 445 kkilowatt-hours."

According to Yves Sangwa, the Chief Executive of Rwanda Green Building Organization, an NGO that aims to develop the local green building industry, green building costs mostly depend on the type of green building certification the client decides to use.

However, he noted that by experience, a building can achieve certification in the same budget as a non-green building, if the sustainability experts are involved at the early stages of the project. In some cases, incremental cost can be 10 to 12 per cent, which is recovered in a short time due to decreased building operations cost energy and water bills.

Sangwa noted that green construction materials can't all be local because "we can't find finishing materials factories like glass factories, and tires as most clients prefer to purchase them in China, Turkey or Dubai which is relatively cheaper compared to the locally manufactured tires, water fittings and electrical [equipment], among others."

He noted that bricks, cement, paints, and roofing are readily available, locally.

Mubagekazi explained that the durability of cleaner production technologies and construction materials can vary based on factors such as the specific technology or material, its quality, maintenance practices, and the conditions in which it is used.

However, a green building can last even more than 20 years depending on the maintenance and use of building.

By and large, it is noted that by reducing energy and water consumption, green buildings save money on utility bills, and also require less maintenance which reduces operational costs.

Incentives

She noted that there is awareness and technical training services as CPCIC offers in-house assessment, audit and trainings on resource efficiency, cleaner production and climate technologies to improve industrial production processes and promote climate-friendly technologies to private operators in industrial building.

The service will be extended to materials used in construction to boost the supply of sustainable materials on the market - specifically in local value chains like stone, clays, sand, and natural soil material.

"We enable access to finance for climate technology developers, businesses and industries. This is done through expert advice, proof of concept grants or loans, prototype demonstration funding, connections to potential investors, and financial institutions providing green finance," she added.

In November 2023, Ireme Invest, a Rwandan private sector green financing facility, secured €20 million (about Rwf 26.3 billion), accompanied by a one-million-Euro grant in technical assistance from the Agence Française de Développement (AFD) to support projects aimed at sustainable development and climate resilience.

- New Times.

Ghana Wants to Make Importing Food Like Rice and Tomatoes More Costly - Expert Explains Why It's a Bad Idea

Ghana, like many other developing nations, relies heavily on imports of food and consumer goods to feed its population. For instance, Ghana imports 55% of the rice that is consumed locally. The country's import dependence is primarily a consequence of the production of low-value primary products without substantial value addition.

To forestall over-dependence on foreign goods, the government has proposed a trade restrictive policy via a legislative instrument on 22 major items. It has justified the policy on the grounds that it wants to reduce Ghana's dependence on foreign goods by making locally produced goods more attractive from a price perspective. In turn, the idea is that this will drive up domestic production.

The list of items includes essential food products such as rice, offal, poultry, cooking oil, fruit juices, noodles and pasta, fish, sugar and canned tomatoes. All are commonly consumed in most Ghanaian households.

But imposing constraints on these food items has the potential to escalate food prices, as set out in my recent paper, prompting concerns about potential threats to food security. Restricting imports without ensuring high-quality and competitive domestic products will not lead to consumer preference for locally made goods. What Ghana's industries need are fewer production constraints and more incentives to compete domestically.

Read more: Ghana wants to restrict imports on 22 products - an economist explains how, why and what else must be done

Opposition to the instrument

Opposition to the proposal emerged from various quarters, including civil society organisations, trade associations and the minority in parliament.

Opponents of the proposed policy contended that its restrictive nature would lead to severe economic and food security repercussions for Ghana. They argued that domestic producers might struggle to meet local demand for the specific items the government aims to restrict. For example, 90% of Ghana's total poultry consumption relies on imports.

The government consequently suspended the proposed mechanism in December 2023 for broader consultation.

The reasons

The ministry wanted the restriction for two main reasons.

First, to curb the depreciation of the Ghanaian cedi. A surge in imports of the products in question increased the demand for US dollars, putting pressure on the local currency. In 2022, Ghana imported food products and related goods worth an estimated US$2.6 billion.

Second, the aim was to foster industrialisation in Ghana. According to the ministry, import restriction was a strategy to reduce competition for local producers, fostering increased local production and making Ghana less reliant on foreign countries to meet domestic demand.

But there are a number of concerns about the potential impacts of the proposed restrictions. Among them are food security, government revenue, trade distortions, and the cost of doing business.

Read more: Ghana's return to the IMF within three years underscores its deeper economic problems

The likely impact

Food insecurity: Data from the Food and Agriculture Organization shows that there were 21 million severely food-insecure individuals in 2021. Constraints on imports of commonly consumed foods, leading to scarcity and thus an increase in food prices, would reduce food security further.

Producers might benefit from selling at higher prices but consumers would not.

Revenue loss: There is the potential for revenue loss, particularly from customs and import duties. Many developing countries, including Ghana, depend heavily on import duties for government revenue. Recent statistics from the World Bank's World Development Indicators for 2020 indicate that customs and import duties accounted for 12.4% of Ghana's tax revenue.

Trade rules: Ghana is a member of the World Trade Organization (WTO), which expects countries to align their trade policies with the relevant globally agreed provisions and rules.

The WTO allows a member country to set conditions for importing certain products. This is known as import licensing. But the WTO stipulates that import licensing should not distort and impede trade.

Ghana may face retaliation from other countries if the restrictions harm their interests.

Take import licensing. This is an administrative procedure requiring the submission of an application or other documentation (other than those required for customs purposes) to the relevant administrative body as a prior condition for importation of goods. This is permissible under WTO rules. But challenges arise in its implementation, particularly the allocation of quotas. Successful implementation requires thorough consultation with importers and importing countries.

The initial opposition within Ghana suggests a lack of serious consultation by the government.

Import licensing can introduce rent-seeking activities in a country like Ghana. Establishing a committee to grant licences to importers opens avenues for bribery and corruption. Transparency International and the World Bank rank Ghana higher in the corruption index than other developing countries.

For instance, the World Bank Enterprise Survey indicates a high percentage of firms in Ghana are expected to pay bribes to obtain licences, government contracts and business permits. When businesses resort to bribery, it leads to inefficiency and a higher cost of conducting business.

The answers

Restraining imports without alternative domestic production and supply mechanisms is economically unsound. Policies that drive industrialisation and position Ghana as a net exporter are needed.

That's not happening. The recently presented 2024 budget revealed a negative 2.2% growth rate for the industrial sector.

To drive industrialisation, the government should focus on reducing production constraints such as inadequate power supply, lack of capital, and high cost of farm inputs, and providing incentives that give Ghanaian producers a competitive advantage in the domestic market. Closing borders to international trade or restricting imports contradicts the objective of promoting industrialisation. It is not a sustainable approach.

Sylvanus Kwaku Afesorgbor, Associate Professor, Agri-Food Trade and Policy, University of Guelph

Rwanda: Why Animals Should Not Be Stressed Before Slaughter

Rwanda Inspectorate, Competition and Consumer Protection Authority (RICA) has warned of animal stress before being slaughtered which leads to low-quality meat.

According to Gaspard Simbarikure, Veterinary Hygiene and Quarantine Specialist at RICA, poor conditions before an animal goes into slaughter can affect the quality of meat.

Discussing the importance of safety and the need for animals to rest before slaughter in line with the ongoing "Safe and Quality Meat" campaign within the meat value chain, he emphasised that low-quality meat could lead to health problems.

"Stressed animals give low-quality meat due to chemical reactions happening in their bodies and this may lead to production of unwanted body secretions which reduces the quality of meat. Low-quality meat has low nutritive value and this may impact the well-being of the consumer," he said.

Animals still experience stress on their way to the slaughterhouses, and Alex Mvunabandi, a slaughterman in Gakenke District, often faces this challenge when animals are being transported because "some trucks do not follow regulations."

ALSO READ: Two ministers to appear in parliament over substandard abattoirs

It is recommended that large animals rest for at least 24 hours, while poultry should rest for at least two hours to reduce stress as it affects the quality of meat.

"When an animal destined for slaughter is stressed shortly and right before slaughter, glucose and especially glycogen stores are activated and metabolised to produce energy in the form of ATP through glycolysis, Krebs cycle, and electron transport system.

"This high metabolic rate continues until after the animal is stunned and bled out. Without the blood to transport the oxygen needed for the Krebs cycle and the electron transport system, glycogen metabolism becomes anaerobic, and lactic acid is produced and accumulated. The accumulation of lactic acid results in a pH decrease to as low as 5.3. Such a low meat pH results in pale, soft, and exudative (PSE) meat," Simbarikure said.

Despite the risks of health problems from consuming low-quality meat, consumers have the right to receive products that are equal in quality to the price, as Simbarikure stated.

If the animal for slaughter experiences prolonged stress before it is slaughtered, glucose and glycogen stores are activated and used to produce energy during that long stress.

After stunning and bleeding the animal, most of its glucose and glycogen stores will have been used up, and the resulting low accumulation of lactic acid leads to meat with a higher pH of up to 6.5.

Such a high meat pH results in dark, firm, and dry (DFD) meat. Good quality meat typically falls between pale, soft, and exudative (PSE) and DFD, with an ultimate pH of 5.6 to 5.8, Simbarikure noted.

"It may be contradictory to the right of consumers to access quality products and it violates the principle of equal pay, whereby the consumer shall have the product which is equal in terms of quantity and the price," he added.

- New Times.

United Airlines to lose money over Boeing groundings

A major US airline has said it expects to lose money in the three months between January and March due to the grounding of Boeing 737 Max 9 jets.

The US Federal Aviation Administration (FAA) grounded 171 of them after an unused door broke away mid-flight.

United Airlines has 79 of the aircraft in its fleet, more than any other carrier, followed by Alaska Airlines.

Both airlines have been forced to cancel hundreds of flights this month as inspections are carried out.

United has said it expects the planes to remain grounded until 26 January and its forecast assumes it won't be able to fly them at all this month.

The Alaska Airlines flight from Portland, Oregon to Ontario, California, had reached 16,000ft (4,876m) when it began its emergency descent, according to flight tracking data, after the unused emergency exit door blew out.

On Sunday, the FAA said another, older 737-900ER model should also be inspected as they use the same door design. United has 136 of these jets in its fleet.

In a statement on Sunday, the agency said: "The safety of the flying public, not speed, will determine the timeline for returning these aircraft to service."

The 737-900ER models have carried out 11 million hours of operations without similar incident to the newer 737 Max 9s.

The FAA did not order the older model to be grounded while the visual inspections are carried out by operators.

Boeing has said it will increase the quality of inspections in its manufacturing processes in wake of the incident.

On Tuesday, United reported flat pre-tax profits of $3.4bn (£2.67bn) for the whole of 2023.

United will discuss the results on a call with analysts and investors on Tuesday morning when the firm is expected to provide an update on the safety inspections of the grounded planes.

Both Alaska and Boeing are scheduled to report their results in the next two weeks.-bbc

Tencent's Riot Games cuts 11% of global workforce

Tencent Holdings' Riot Games has said it will cut 530 jobs which account for about 11% of its global workforce.

Chief executive Dylan Jadeja told staff "our costs have grown to the point where they're unsustainable".

Los Angeles-based Riot said teams outside of core development will see the largest impact from layoffs.

The online gaming company says it will focus on its portfolio of live games such as League of Legends, Valorant, Teamfight Tactics, and Wild Rift.

Riot Games is the latest to cut jobs in the gaming industry.

Last year, Amazon and TikTok owner ByteDance both downsized their gaming divisions while Fortnite maker Epic Games, Assassin's Creed developer Ubisoft, and Pokemon Go creator Niantic all announced cuts.

The job losses in the sector are partly due to the mass hiring that happened at the start of the pandemic in 2020.

Riot Games acknowledged that it had "more than doubled in headcount" over the last several years.

When lockdowns ended across the world, sales started to slow. Customers are also holding off on buying expensive titles or stick to fewer games amid high inflation.

That is despite gamers having many highly rated titles to choose from including Baldur's Gate 3, Zelda: Tears of the Kingdom, and Spider-Man 2.

New entries in the Super Mario and Sonic the Hedgehog franchises have also drawn acclaim while there were surprise hits like Sea of Stars, Hi-Fi Rush and Dave the Diver.

But announcing the cut, Mr Jadeja says: "Today, we're a company without a sharp enough focus, and simply put, we have too many things underway".

Riot will stop new game development under Riot Forge and drop some features in Legends of Runeterra which it said has not performed as well as it hoped.

Tencent bought a majority stake in Riot Games in 2011 but it also holds a stake in Epic Games.-bbc

Sony calls off merger with India media giant Zee

Sony's Indian arm has scrapped a planned merger with Zee Entertainment which would have formed one of India's largest entertainment groups.

The $10bn merger, first announced two years ago, was set to combine more than 75 television channels, film assets and two streaming platforms.

Sony said merger conditions had not been met, but there have been reports of a disagreement over leadership.

In response, Zee said it could take legal action against Sony.

The closing date for the deal had been set as 20 January, but Sony said this was not met "as, among other things, the closing conditions to the merger were not satisfied by then".

When the deal was originally announced, Zee chief executive Punit Goenka was set to lead the newly-merged company.

However, Sony is reported to have been unhappy with this after India's market regulator launched a probe into Mr Goenka.

In a statement, Zee said that Sony was seeking a $90m (£70.8m) termination fee as result of alleged breaches of the terms of the merger, but said it "categorically denies" the allegations.

Zee added that "all efforts and steps were taken by ZEEL [Zee] in line with the Merger Cooperation Agreement, approved by its shareholders and all regulatory authorities".

The company said it was now "evaluating all the available options".

Zee added it would take "all the necessary steps to protect the long-term interests of all its stakeholders, including by taking appropriate legal action".

It also said that Mr Goenka has been "agreeable to step down in the interest of the merger and proposals in this regard were discussed".

When the deal was first announced, the newly-planned firm was set to become a major media player in the country, challenging rivals such as Walt Disney's Hotstar.

Both firms have operated in India for years and own streaming platforms ZEE5 and SonyLIV. They also have a vast TV following with popular channels such as Sony MAX and Zee TV.

The merger was also seen as key to providing a rival to the planned merger between Disney's Indian businesses and the media assets of Reliance Industries.

"A deal collapse will have a negative impact on both parties as they were looking at scaling up in the Indian market which is going through a digital disruption and a potential threat of increased competition intensity if the Reliance-Disney deal goes through," Karan Taurani, an analyst at Elara Capital, told Reuters.

India is becoming an increasingly lucrative market for streaming platforms that are targeting a young digital audience.

The past few years have seen a surge of competition from streaming platforms such as Netflix, Amazon and Hotstar.-bbc

MrBeast reveals he made $250,000 from X video

The world's most popular YouTuber, MrBeast, has revealed he made more than $250,000 (£197,000) from posting a video on X, formerly known as Twitter.

He had previously said it was not worth posting on the social media site as creators only got a small amount of advertising revenue.

However, after a U-turn last week, he posted an old video - which has generated more than 155 million views.

The stunt has been closely watched as X's business struggles.

Elon Musk, the owner of X, has tried various strategies to boost engagement on the platform since buying it in October 2022.

These include sharing advertising revenue with high profile creators, something that other sites, including YouTube, already do.

But the plans have faced doubts, as traffic to the site has declined.

X's advertising revenue has also plunged as Mr Musk's feud with advertisers over issues such as hate speech and misinformation rumbles on.

MrBeast: How the world's biggest YouTuber made his millions

Star YouTuber MrBeast backtracks on X video snub

MrBeast - real name Jimmy Donaldson - had previously said that even a "billion views" would not make it worth his while to post videos on X.

But he said he was "super curious" to see how much advertising revenue he could make from the video.

He said on Monday that the big sum seemed "a bit of a façade".

"Advertisers saw the attention it was getting and bought ads on my video (I think) and thus my revenue per view is [probably] higher than what you'd experience," he wrote in the post, adding that he planned to choose 10 "random people" to give the money he made.

Analysts said an equivalent haul would be hard to repeat without MrBeast's massive profile.

"He said he made $250,000, so not bad for one video," said Karsten Weide, principal at W Media Research. "It's good numbers but you have to have a massive amount of traffic."

The amount so-called influencers can make varies from person to person. The terms of individual deals are kept confidential, although it is thought the biggest names online may be able to negotiate special rates.

In November 2022, Forbes estimated that MrBeast made $54m in a year from his YouTube channel.

Since then, he has gained millions of subscribers on his main channel, to make a total of 233 million.

The size of his audience has prompted courtship from companies looking to boost their platforms.

MrBeast, who has claimed his videos cost millions of dollars to make, is reportedly working on a deal for a show with a huge streaming platform.

He had previously posted the same video, where he tries out cars of differing valuations, on YouTube in September 2023.

It currently has over 215 million views on YouTube, where MrBeast makes most of his money.

A MrBeast video can earn more than $1m onYouTube over time, according to estimates from influencer analytics platform WeArism.

But on X, where new content dominates, a similar post may not have the same staying power, said Jenny Tsai, founder and chief executive of the firm.

"It would be interesting to see how the monetisation potential stacks up over time," she told the BBC.

In the screenshot shared by MrBeast, he reported $263,655 in revenue from nearly 156.7 million "impressions" or about $1.68 per 1,000 impressions.

Dave Wiskus, chief executive of Nebula, the largest independent premium streaming platform, said it was not clear what counted as an impression on X.

But he said the performance of the video suggested that creators might not want to simply write off X as a platform for sharing their work, noting that even for MrBeast, making more than $250,000 was "not nothing".

"If you're a creator who can pull in any kind of numbers and if you're already making the video and you can post it over there too, then sure, why not?" he said.

But he said he did not think less famous people would be able to bring in equivalent sums.

"This was a one-off from the biggest YouTuber on earth that got international media attention," Mr Wiskus added.

"I don't think another creator who pulls in 1% of those impressions is going to put in 1% of that money."

Analysis box by Zoe Kleinman, technology editor

MrBeast's experiment is fairly unique.

Most creators would not attract anywhere near those viewing numbers, or indeed the global media attention that went along with it. As he said himself, the final sum his video earned him is not reflective of the experience for most of X's users.

It will undoubtedly please X chief executive Linda Yaccarino, who joined the firm last year following a stellar career in advertising. She is said to have privately struggled with the reputation of X, so it will be encouraging for her to see that ads can still perform well on the platform.

The company's owner Elon Musk visited the site of the Auschwitz death camp on Monday, following intense scrutiny of the way in which the social network handles anti-Semitic content on its platform. This is one of the big issues which troubles many of X's users and potential advertisers. It is one which Mr Musk must continue to address both in terms of words and actions.

There are also rumours that MrBeast may be negotiating his own show with one of the large video streaming platforms. If this is indeed the case, his experiment on X is a loud signal as to just how much he is worth.-bbc

Cryptocurrency firm Terraform Labs files for bankruptcy in US

The cryptocurrency company behind the crashed TerraUSD and Luna tokens has filed for bankruptcy in the US.

Terraform Labs' tokens collapsed in May, losing $40bn of their value and contributing to the so-called "cryptocrash" of 2022.

Co-founder Do Kwon is currently in jail in Montenegro after having been found guilty of forging documents.

He has been charged with defrauding investors by US regulators and is awaiting extradition.

He also faces fraud charges in South Korea, his native country, so could be extradited there.

A third legal case is ongoing in Singapore, where the company is registered.

Cryptocrash

Terraform Labs' Luna token came to prominence in December 2021, when its value began to rise from $5 to a high of $116 in April 2022.

Fans of Luna became known as "Lunatics", with Mr Kwon referred to as their "king".

Then suddenly, on 9 May 2022, it collapsed, losing 99% of its value in just 48 hours.

It was algorithmically linked to its sister coin, TerraUSD, which was a stablecoin, meaning it was meant to stay at at a value of $1.

But the value of TerraUSD plummeted to about $0.02 - which then caused the Luna coin to nosedive.

The crash led to shockwaves around the crypto market, with investors pulling billions of dollars from other cryptocurrencies in fear of a similar crash.

It is estimated that about $400bn was wiped from the value of other cryptocurrencies such as Bitcoin.

Announcing the bankruptcy filing, Terraform Labs chief executive Chris Amani said: "This action is necessary to allow us to continue working toward our collective goals while resolving the legal challenges that remain outstanding."

Terraform "intends to meet all financial obligations to employees and vendors during the Chapter 11 case and does not require additional financing to do so," the company said in a statement.

A Chapter 11 bankruptcy means that Terraform Labs can continue to do business.

The firm offers blockchain and other Web3-related services.

The bankruptcy documents, filed in Baltimore, list Terraform as having between $100m and $500m in assets.

They also say Do Kwon owns 92% of the shares of the company, with his co-founder Daniel Hyunsung Shin owning the other 8%.

'I was arrested for trying to confront cryptocrash boss'

Mr Kwon was arrested in Montenegro in March 2023 as he tried to board a plane to Dubai.

Three months later, he was found guilty of forging documents - which he denied - and sentenced to jail.

The former finance officer of Terraform Labs, Han Chang-joon, was also sentenced to prison after being found guilty of the same charges.

According to Reuters, police had found doctored Costa Rican passports and a separate set of Belgian passports among their luggage.

In November 2023 a court in Montenegro approved his extradition, but was yet to decide whether it would be to South Korea or the US.-bbc

Invest Wisely!

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