Major International Business Headlines Brief::: 30 January 2024

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Major International Business Headlines Brief:::  30 January 2024 

 


 

 




 


 

 


 

ü  Tanzania: Traders Warned Against Illegal Hikes in Sugar Prices

ü  Tanzania: Relief As First Batch of Sugar Consignment Arrives

ü  Tanzania: RAS Tasks TMDA to Control Substandard Medical Devices

ü  Namibia: Rental Market Exhibits Resilience in the Face of Economic
Challenges

ü  Namibia: Satellite Technology to Enhance Communication Services Under
Spotlight

ü  Nigeria: Govt Inaugurates Minimum Wage Committee Tomorrow

ü  Liberia: Government Tight-Lipped on Annual Message Budget

ü  Nigeria: Dangote Refinery to Import U.S. Crude

ü  Tanzania: Dar, Delhi Bilateral Trade Heads to Exponential Growth

ü  Angola: Diamond Panning Attracts Illegal DRC Migrants to Angola

ü  Liberia: 'Data Key to Fisheries Management'

ü  Elon Musk announces first Neuralink wireless brain chip implant

ü  Toyota recalls 50,000 US vehicles over airbag 'injury or death' fears

ü  US weapons sales abroad hit record high in 2023, boosted by Ukraine war

ü  Amazon-iRobot deal scrapped after EU challenge

ü  Britishvolt buyer David Collard charged with assault in New York

 


 

 


 <https://www.cloverleaf.co.zw/> Tanzania: Traders Warned Against Illegal
Hikes in Sugar Prices

KATAVI: KATAVI Regional Commissioner Ms Mwamvua Mrindoko has warned traders
in the region against price hikes of sugar on the pretext of shortage of the
commodity in the markets

 

The RC said she will never hesitate to take legal measures against a few
traders hiking sugar prices arbitrarily on the pretext of a shortage of the
commodity in the market because it hurts the citizens.

 

She issued the warning in Mpanda Municipality yesterday emphasizing that the
days of the defiant traders were numbered.

 

"There are some unscrupulous businesspeople in Katavi who want to make big
profits by raising sugar prices. There is no justification for hiking sugar
prices because there is a shortage in the market," the RC stressed.

 

 

The RC said she was prompted to issue the warning following a report that
sugar prices in most retail shops in Katavi region have currently surged
above the indicative prices, fluctuating between 4,000/- and 5,000/- per
kilo.

 

According to her, as per the Tanzania Sugar Board (TSB), the indicative
sugar prices for wholesale in Katavi remain between 2,600/- to 2,800/- while
the retail price is 3,200.

 

"I urge traders in the region the retail price of sugar must not exceed
3,200/- per kilogramme short of that the defiant traders will face the full
force of the law," she warned.

 

The TSB indicative sugar prices remain between 2,800/- to 3,200/- per
kilogramme depending on the geographical location in Rukwa, Kigoma and
Katavi Region wholesale price is between 2,600 and 2,800/- while the retail
price is 3,200/-

 

"The indicative prices is the same for Katavi Rukwa and Kigoma so there is
no justification for price hike, either based on production fall or
increased transport costs" she explained.

 

-Daily News.

 

 

 

Tanzania: Relief As First Batch of Sugar Consignment Arrives

DAR ES SALAAM: THE first batch of sugar consignment entered into the country
yesterday, to cushion the demand and lower the prices of the commodity that
is hitting the ceil.

 

The batch being offloaded at the Dar es Salaam Port on board mega JPO
Aquarius ship, is part of the 100,000 tonnes that the government approved to
sugar producers, to import following acute shortage of the commodity due to
what has been described as heavy rains in November and December last year
that curtailed local production.

 

Speaking to journalists while unloading the cargo at the port, the Sugar
Board of Tanzania (SBT) Planning, Monitoring and Evaluation Manager, Mr
George Gowele said the imported sugar will start flooding the market today
after completing all port procedures.

 

 

"We are grateful to the TPA (Tanzania Ports Authority) for giving us
priority and fast-tracking offloading of the cargo. The containers arrived
today (yesterday) and we have finished unloading now, another procedures
will follow at the relevant authorities including Tanzania Bureau of
Standard (TBS) and Tanzania Revenue Authority (TRA), so that sugar can be
distributed tomorrow (today)," said Mr Gowele.

 

However, he refused to reveal the number of tonnes that arrived in the first
batch when 'Daily News' sought to know the exact amount and whether it was
suffice to quench the current demand.

 

He said that it is a continuous exercise, insisting that tomorrow or the
following day another consignment will arrive, where by early March, the
last batch will be brought to complete the 100,000 tonnes that were approved
by the government.

 

 

Last week, Minister for Agriculture, Mr Hussein Bashe assured Tanzanians
that mid-February this year, the challenge of accessing sugar in the country
will decrease, while stressing that the indicative price of sugar should be
observed. He warned traders who increase the price, saying already some of
them have been arrested.

 

According to him, the indicative sugar prices remain between 2,800/- to
3,500/- depending on the geographical location.

 

However, the sugar prices in most retail shops have recently surged above
the indicative prices fluctuating between 3,800/- and 4,300/- per kilo.

 

Last week, the SBT Director of Regulatory Services, Mr Lusomyo Buzingo said
that the production of sugar was interrupted by heavy rains the country
experienced last November but the manufacturers have since resumed
production.

 

The producers halted production after failing to access their shambas for
sugarcane following the torrential rains that damaged infrastructures.

 

All sugar factories stopped production due to heavy rains, though Kilombero
and Kagera continued with production, since they were partially affected.

 

The government gave the sugar import approval to Mtibwa Sugar, Kilombero
Sugar/Illovo, Bagamoyo Sugar, TPC Limited and Kagera Sugar.

 

-Daily News.

 

 

 

 

Tanzania: RAS Tasks TMDA to Control Substandard Medical Devices

Bukoba — KAGERA: KAGERA Regional Administrative Secretary (RAS), Dr Toba
Nguvila has appealed to the Tanzania Medical and Drugs Authority (TMDA) to
control the importation of substandard medical devices to save the lives of
most Tanzanians.

 

He asked TMDA, the Ministry of Health (MoH), pharmacists and suppliers to
ensure that expired drugs, medical devices and reagents are not sold to the
people.

 

"You should leave your offices and make regular visits to entry points to
control the importation of substandard medical devices in efforts to save
the lives of most Tanzanians, "he said.

 

 

He made the remarks recently on behalf of the Kagera Regional Commissioner
(RC), Ms Fatma Mwassa while opening a one-day workshop which was attended by
officials under TMDA, the Ministry of Health, Ministry of Livestock
Development and pharmacists from the eight councils-Muleba, Bukoba DC,
Biharamulo, Ngara, Karagwe, Kyerwa, Missenyi and Bukoba MC.

 

"The effects of using reagents that have expired may lead to getting wrong
results, especially for disease testing reagents or kits. The government
will take stern measures on officials and suppliers, who defy the
directives," he said.

 

Dr Nguvila commended the government under President Dr Samia Suluhu Hassan
for the efforts in improving people's lives through the construction of
modern hospitals, health centres and dispensaries and equip them with decent
reagents...." These efforts should be supported," he said.

 

 

Adding...." By ensuring that health facilities are equipped to deliver
comprehensive emergency obstetric and newborn care services, we can
effectively address the fatal complications of childbirth, including severe
bleeding, infection, prolonged or obstructed labor, eclampsia and asphyxia
in the newborn," he said.

 

On his side, TMDA Zonal Manager, Dr Edgar Mahundi said that the aim of
convening the workshop was to share experience and set strategies on how to
identify substandard drugs, medical devices and reagents, before using them.

 

He urged the community to create a culture of checking information on the
drugs, medical devices and reagents, before using them and when they find
out that they have been changed or tampered with, then they should inform
the authority.

 

He explained that changing labels on medicines, medical devices and reagents
makes people use expired products that are hazardous to their health.

 

"It is a serious offense to change the information on the medical product
that has reached the market because only the manufacturer has the right to
change the information of the product," he emphasized.

 

Acting Kagera Regional Medical Officer (RMO), Dr Hassan Kawia noted that the
ongoing education provided by TMDA will help healthcare workers to provide
the right services using the right medical equipment.

 

-Daily News.

 

 

 

 

Namibia: Rental Market Exhibits Resilience in the Face of Economic
Challenges

The FNB Rent Price Index has demonstrated remarkable resilience, remaining
positive for two consecutive quarters after emerging from contractionary
territory in March 2023, according to an FNB statement released last week.

 

According to the statement, the 12-month average for Q3-2023 reached 4.7%, a
slight decline from 5.8% in Q2-2023 and a substantial improvement from 0.1%
in Q3-2022, with the average rent price standing at N$7 177.

 

Breaking down the data by bedroom size, the three-bedroom and more than
three-bedroom segments experienced growth rates of 4.0% and 9.2%,
respectively. In contrast, the one and two-bedroom segments saw contractions
of 4.6% and 9.0% during Q3-2023. Average rent prices for the one, two,
three, and more than three-bedroom segments are N$3 483, N$5 443, N$9 907,
and N$22 703, respectively.

 

 

Despite a challenging economic backdrop, the average deposit charged also
exhibited resilience, standing at 14.8% in Q3-2023, slightly down from 15.1%
in Q2-2023 but significantly higher than the 3.6% recorded in Q3-2022.

 

This surprising resilience in the rental market comes against the backdrop
of a high-price and elevated interest rate environment. During the review
period, interest rates increased by a cumulative 400 basis points, with a
12-month inflation rate of 6.2%. Ordinarily, such a macroeconomic
environment would limit price growth as landlords grapple with passing on
rental increases amid deteriorating affordability.

 

A potential explanation for this anomaly is a trend among individuals to
delay property purchases, opting to rent for longer due to affordability
constraints and the prevailing elevated interest rates. The evident decline
in house price transaction volumes by 27.7% in Q3-2023 supports this
perspective. The resilience is particularly notable in the three-bedroom and
more than three-bedroom segments, suggesting a nuanced response to economic
challenges.

 

 

Looking ahead, expectations are for the rental market to maintain stability
as inflation moderates and the repo rate holds steady at its peak of 7.75%,
with a shallow cutting cycle anticipated through 2026. Additionally, changes
in loan-to-value ratios effective from October 31, 2023, may incentivize
investments in residential property, potentially increasing the supply of
rental properties.

 

In conclusion, the rental market has defied expectations in the face of a
weakened consumer environment, showcasing resilience throughout the first
three quarters of 2023. As inflation is projected to ease over the next two
years and interest rates are expected to have peaked in 2023, the rental
market is anticipated to remain stable. The decision by individuals to defer
property purchases in favor of longer-term rentals is likely to be a
continuing factor supporting the rental market.

 

-Namibia Economist.

 

 

 

Namibia: Satellite Technology to Enhance Communication Services Under
Spotlight

In a significant development towards improving communication services, the
country is actively exploring the implementation of satellite technology.
The Minister of Information and Communication Technology (MICT), Dr Peya
Mushelenga, announced on Friday.

 

Addressing the annual staff meeting at the ministry, Mushelenga emphasized
the country's commitment to achieving a digital future, recognizing the
pivotal role of information and communication technology in national
development. He highlighted the government's dedication to ensuring a
digital future for its citizens.

 

"Information and communications technology represent an enormous opportunity
to introduce significant and lasting positive change across the developing
world. The rapid penetration of mobile access, in particular, has resulted
in considerable improvements in the lives of the poor in both rural and
urban contexts," explained Mushelenga.

 

 

The minister further outlined Namibia's efforts to foster a competitive and
fair Information Communication Technology (ICT) sector. He discussed
initiatives aimed at stimulating innovation and protecting consumer
interests, including proactive steps to address the cost of data.

 

"We are taking proactive steps in this direction through our rural ICT
centers by employing internal mechanisms to transform the 26 rural ICT
centers nationwide. Therefore, citizens should anticipate experiencing the
results of these changes in this year of expectations," he assured.

 

Mushelenga highlighted the success of Namibia's commitment to digital
inclusion, citing improvements in nationwide internet access, especially in
underserved rural areas. These enhancements were achieved by expanding the
national fiber-optic backbone, contributing to faster and more reliable
internet connectivity while addressing the digital divide.

 

Looking ahead to 2024, Mushelenga revealed that the country is finalizing
the National Digital Strategy and planning to present the Access to
Information regulations and the Data Protection Bill in parliament.
Additionally, consultations on the Cybercrime Bill are set to conclude, and
the consolidated National ICT Policy will be finalized. The minister
expressed optimism that these measures would further strengthen Namibia's
position in the digital landscape, bringing about positive changes for its
citizens.

 

-Namibia Economist.

 

 

 

 

Nigeria: Govt Inaugurates Minimum Wage Committee Tomorrow

The Federal Government will tomorrow inaugurate a tripartite committee to
negotiate a new minimum wage for workers nationwide.

 

The N30,000 subsisting minimum wage expires in April 2024 as its five years
life span will end on April 18, 2024. Recall that former President Muhammad
Buhari signed the N30,000 Minimum Wage Act into law on April 18, 2019.

 

The tripartite committee, comprising representatives of organised private
sector, OPS, organised labour and government for a national minimum wage
negotiation, is in accordance with the International Labour Organisation,
ILO, Convention 131.

 

 

The committee will be inaugurated at the Council Chamber, Presidential
Villa, Abuja at noon.

 

They are to negotiate and agree on a new minimum wage which the federal
government will, through an executive bill, forward to the National Assembly
for legislation.

 

In a letter inviting some of the representatives to the inauguration by the
Secretary to the Government of the Federation, SGF, Senator George Akume,
titled "Inauguration of the tripartite committee on national minimum wage",
the SGF said: "I write to inform you that Mr. President has approved the
inauguration of the Tripartite Committee on National Minimum Wage.

 

The inauguration will take place on Tuesday, 30th January 2024 at the
Council Chamber, Presidential Villa, State House, and Abuja at 12.00noon
prompt.

 

Members are to be seated by 11.30am. A shuttle bus will be available at the
pilot gate to convey members to the venue from 10.00 am."

 

 

The letter added that representatives could contact the Secretariat of the
Committee in the National Salaries, Incomes and Wages Commission for any
enquiries/ Director, Compensation for further information.

 

Recall that ahead of the new minimum wage negotiations, Organised Labour
plans to demand a wage based on the cost of living and other socioeconomic
indices across the country.

 

Vanguard gathered that Labour has been working round the clock to ensure
that its wage demand can hardly be faulted by both government and private
sector employers.

 

According sources, Organised Labour demand would be determined by the cost
of living and other parameters across the country.

 

To ensure that Labour's demand is data based instead of sentiments, Nigeria
Labour Congress, NLC, had directed its state councils nationwide to collate
the cost of living data in towns and local government areas in the states.

 

 

In a circular dated January 17, 2024, to the state councils titled "National
minimum wage negotiation- Data collection: Urgent action required", NLC's
General Secretary, Emmanuel Ugboaja, among others, wrote "As we gear up for
the forthcoming negotiations on a new national minimum wage, it is crucial
that we gather accurate and comprehensive data on the average cost of living
across our nation. State Councils of the NLC have been identified as key
players in this essential task.

 

"The success of our efforts in negotiating a fair and equitable national
minimum wage depends significantly on the thoroughness and accuracy of the
data we collect. Therefore, I am writing to urge your immediate attention
and action in conducting the necessary research and collating vital
information.

 

"To facilitate this process, please find attached two forms. The first form
is designed for distribution around the towns and Local Government Areas,
LGAs, in your state. It is imperative that these forms are disseminated
widely to ensure a representative and inclusive data collection process.

 

"The second form is to be used for summarizing the analysis of the collated
data. This summarized information will be sent to the national headquarters,
where it will greatly assist the Congress' National Minimum Wage Negotiating
Council in its deliberations.

 

"In line with the urgency of this matter, we encourage you to leverage
online platforms for efficient and streamlined data collection. This
approach will not only expedite the process but also ensure the accuracy of
the information gathered.

 

"We kindly request that your State Council commence this crucial task
promptly and submit your findings to the national headquarters before the
last day of this month, January 2024.

 

"Your dedication to this undertaking is invaluable, and we are confident
that with your collaboration, we will contribute significantly to the
success of the upcoming negotiations."

 

-Vanguard.

 

 

 

 

Liberia: Government Tight-Lipped on Annual Message Budget

The Government of Liberia is tightlipped on budget allocated for President
Joseph Nyumah Boakai's first Annual Message to the 55th Legislature,
scheduled for today, January 29, 2024.

 

Despite assuring the public of the President's good health to deliver the
Annual Message, the government has yet to disclose financial details behind
the event.

 

Speaking in special press briefing here on Sunday, January 27, at the
Ministry of Information, Cultural Affairs and Tourism in Monrovia,
Montserrado County District#7 Representative Emmanuel Dahn, who chairs the
House Committee on Executive, openly said he cannot disclose for now how
much money was expended in preparation for today's ceremony, indicating that
since there was no budget approved, they went out to vendors and contractors
from different places to pre-finance the program.

 

 

However, he promises that once a collaborative effort is made with both the
Senate and the House of Representatives, details of all expenditures made in
the preparation will be shared with the public.

 

"Since there is no finance minister currently, to sign the budget and nobody
to provide the money, the leadership of both houses decided to come together
to act, inviting Liberian contractors and venders to pre-finance the
process", Representative Dahn explains.

 

Article 58 of the Constitution of Liberia mandates: "The President shall, on
the fourth working Monday in January of each year, present the
administration's legislative program for the ensuing session, and shall once
a year report to the Legislature on the state of the Republic. In presenting
the economic condition of the Republic the report shall cover expenditure as
well as income."

 

 

It is this constitutional mandate that President Boakai is expected to
fulfill today, as he delivers his agenda for the first year to the Liberian
people with preparations reported to be almost 98% complete.

 

Rep. Dahn highlights the collaborative efforts with Speaker J. Fonati Kofa,
Deputy Speaker Thomas Fallah, and Senate President Pro-Tempore Nyonblee
Karnga-Lawrence to ensure the smooth execution of the President's address.
Originally planning for 350 tickets, he indicates a potential increase to
500 tickets due to undisclosed factors.

 

As part of security measures, Chief of Public Safety of the Liberia National
Police (LNP) John Saah announced a temporary halt to all traffic passing
through the Executive Mansion.

 

Inspector Saah says regular traffic will be permitted until 3:00 PM, after
which vehicles from ELWA Junction through Tubman Boulevard toward central
Monrovia will be redirected from Vamoma House Junction to Sinkor, while
those from central Monrovia to Sinkor will be directed to use the Jallah
Town route, instead.

 

He says regular traffic will resume immediately after the President's
official convoy leaves the premises of the Capitol.

 

Residents are asked to stay clear of the Capitol Building if they have
nothing to do with the President's Annual Message. Editing by Jonathan
Browne

 

-New Dawn.

 

 

 

Nigeria: Dangote Refinery to Import U.S. Crude

Dangote Petroleum Refinery had earlier in the month commenced production of
diesel and aviation fuel

 

The 650,000 barrels per day Dangote Refinery is set to import crude from the
United States (US) in the coming months, a report has said.

 

Trafigura Group sold 2 million barrels of WTI Midland to the Dangote
refinery for end-February delivery, Bloomberg reported Monday, quoting
traders with knowledge of the matter.

 

This is the first time that the giant refinery has purchased non-Nigerian
crude, traders said.

 

Dangote Petroleum Refinery had earlier in the month commenced production of
diesel and aviation fuel.

 

 

Announcing the commencement in a statement, the company said the refinery
has so far received six million barrels of crude oil at its two SPMs located
25 kilometres from the shore.

 

The first crude delivery was done on December 12, 2023, and the 6th cargo
was delivered on January 8.

 

The first cargo that arrived at the plant was from Agbami crude grade from
Shell International Trading and Shipping Company Limited (STASCO), one of
the largest trading companies in Nigeria and globally, trading over 8
million barrels of crude oil daily.

 

The company made a further move towards the commencement of the production
of refined petroleum products with the receipt of an additional one million
barrels of crude bonny light supplied by the Nigeria National Petroleum
Company (NNPC Ltd).

 

The fresh one million barrels of crude from the Shell terminal via the MT
Otis owned by Trafigural is the second consignment to be delivered to the
Dangote facility out of the six million barrels of crude being expected by
the world's largest single-train refinery.

 

The refinery can load 2,900 trucks a day at its truck-loading gantries. The
products from the Refinery will conform to Euro V specifications.

 

-Premium Times.

 

 

 

Tanzania: Dar, Delhi Bilateral Trade Heads to Exponential Growth

DAR ES SALAAM: THE bilateral trade between Tanzania and India is
experiencing exponential growth, positioning Tanzania as India's
third-largest trade partner in Africa by 2023/24.

 

The projected trade volume between these historically connected nations is
expected to reach 6.5 US billion dollars (around 15tri/-) in 2023/24, up
from 4.5 billion US dollars in 2022/2023.

 

The Indian High Commissioner to Tanzania, Mr Manoj Verma, emphasised this
development during the celebration of India's 75th anniversary of
independence in Dar es Salaam, where he led the Indian Diasporas.

 

He stated, "There have been significant achievements in the India-Tanzania
bilateral relationship. Our bilateral relations were upgraded to a strategic
partnership during President Dr Samia Suluhu Hassan's state visit to India
in October 2023."

 

 

Mr Verma further noted that in the near future, the trade relationship
between the two countries may even accelerate, potentially reaching the
second position.

 

He expressed commitment to boost economic relations, particularly as India
plans to establish an Industrial Park in Tanzania.

 

"As we enter 2024, we take immense pride in our achievements during 2023 and
the progress made in our bilateral relations. In the coming years, we are
committed to working together to further strengthen India-Tanzania
relations," he stated.

 

The celebration also included the official inauguration of the
India-Tanzania Friendship Exhibition at the National Museum of Tanzania,
which was attended by the Minister for Tourism and Natural Resources, Ms
Angellah Kairuki.

 

 

Mr Verma expressed gratitude for the shared culture between Tanzanians of
Indian ethnicity and the local population, highlighting the government's
support and inclusion as symbols of equality and human dignity.

 

He stated, "The exhibition inaugurated today showcases a window into our
shared history that has shaped our friendship. The contributions of the
Indian Diaspora have not only shaped the past but will undoubtedly continue
to strengthen the bond of friendship in the coming years."

 

During her remarks at the exhibition, Minister Kairuki highlighted the
centuries-old historical relationship between Tanzania and India,
characterised by trade exchanges and the Indian contribution to Swahili
settlements along the East African coast.

 

She expressed satisfaction with the collaboration between the National
Museum of Tanzania and the High Commissioner of India, emphasising the
shared heritage and brotherhood between the two countries.

 

She added, "Today, with this joint exhibition, Tanzanians and Indians are
marking an important milestone in our long-standing relationship. It is our
hope that the exhibition will enhance people's awareness of our strong
relationship and further strengthen our friendship."

 

Furthermore, Minister Kairuki emphasised that Tanzania and India have
developed a solid post-independence relationship, fostering mutual economic
benefits and a well-established partnership focused on capacity building.

 

She highlighted Tanzania's significant gains from the relationship,
including access to training opportunities and markets for its cash crops.

 

-Daily News.

 

 

 

Angola: Diamond Panning Attracts Illegal DRC Migrants to Angola

Dundo — Diamond mining continues to attract illegal migrants from the
Democratic Republic of Congo (DRC) to Lunda-Norte province, which requires
defense and security bodies to trigger increased inspection actions.

 

According to the National Police spokesman at Lunda-Norte, Domingos
Muanafumo, which presented, on Monday, preliminary data from Operation
"Cleaning", many Citizens of the RDC try at all costs to violate the border
to illegally enter Angola and develop diamond mining, "sometimes with the
aid of Angolans."

 

He said that during the operation, 37 diamond stones, six vehicles, five
dredges, a mini washer, 39 electric bumps, 279 gravel washed, mopeds and 279
motorcycles were seized.

 

 

In addition to the means, he said, $2,600 US dollars were seized, 470,000
kwanzas, and 30,150 liters of fuel, which were in possession of the citizens
involved in the practice of illegal mining.

 

He also highlighted the arrest of 506 citizens of the Democratic Republic of
Congo (DRC), for alleged illegal mining, stressing that due to irregular
permanence in the national territory they were immediately repatriated to
the country of origin.

 

He added that the detained means were delivered to the General Tax
Administration (AGT) and the diamonds sent to the "Transparency Operation
'listing committee.

 

The 'Cleaning' operation takes place since the beginning of January, in
Cambulo, and aims at the dismantling of illegal activities in mining areas.

 

Lunda-North province shares a border of 770 kilometers with the DRC.
JVL/HD/DOJ

 

-ANGOP.

 

 

 

 

Liberia: 'Data Key to Fisheries Management'

The Director General of the National Fisheries and Aquaculture Authority
(NAFAA), Emma Metieh Glassco, has described the conduct of the ongoing
fisheries stock assessment initiative for Liberia as important to getting
quality data to make good decisions for the management of the fisheries
sector.

 

She said that data is a key to better fisheries management in Liberia and as
such, her institution has attached serious importance to the fisheries stock
assessment exercise for the country.

 

Glassco made the statement recently when she addressed some fisheries
ministers and technicians from Ivory Coast, Guinea, Morocco, and other parts
of Africa at a commissioning ceremony of the Moroccan Research Vessel aimed
to conduct scientific fish stock assessments in Liberian waters.

 

 

The occasion was attended by the speaker of the 55th Legislature, Fonati
Kofi, the Minister of Agriculture, Maritime Fisheries, Rural Development,
Water, and Forests of Morocco (AMFRDWFM), Mohammed SADIKI, and other
high-profile dignitaries from Ivory Coast, Guinea, and Morocco, and among
others.

 

Glassco highlighted the fact that without essential data on the fisheries
stock, it will become difficult to determine the best fisheries management
approach to apply.

 

"Data is a key tool for fisheries management," she said. It is significant
in determining the best fisheries management approach to apply.".

 

She said over the years, the government of Liberia, through NaFAA, had
applied the precautionary approach to managing the country's fish resources
to avoid overfishing.

 

 

According to her, the lack of scientific data has undermined the performance
of Liberia's fisheries sector over the years but said that the availability
of data is a critical factor in informing management decisions and
attracting potential investment, especially in the private sector.

 

She said that the conduct of the stock assessment initiative was timely as
Liberia seeks to industrialize its fishing sector to provide socio-economic
growth to its populations like other African countries.

 

Glassco added that the absence of basic scientific data has limited the
ability of Liberia as a country to engage in full industrial fishing.

 

"As we kick off this exercise today, I believe that we are a step away from
going into full-scale commercialization, depending on the reports from
research," she said.

 

 

The NaFAA boss said, 'It is an activity that seeks to collect information on
the abundance and distribution of various kinds of fish species within a
body of waters in terms of their commercial value and ecological
importance.'

 

"This fish stock assessment exercise is an activity that seeks to collect
information on the abundance and distribution of various kinds of fish
species within our waters in terms of their commercial value and ecological
importance," she added.

 

Meanwhile, Glassco said the commissioning and subsequent commencement of the
fish stock assessment is a major achievement and milestone as Liberia
endeavors to collect the requisite data on marine resources and ensure the
sustainable management of these valuable resources.

 

She further said that NAFAA's efforts are to guarantee that everything
counts, including the taxonomy of the fish stock, the breeding ground, the
biomass, habitat, and distribution of the stocks across Liberia's
coastline."

 

Also speaking on the occasion, the speaker of the 55th Legislature, Fonati
Kofa, said the Liberian fisheries sector is a continuing positive path of
the economy.

 

He said that the country transitioning from artisanal fishing to
industrialized and commercial fishing will economically benefit the
citizens.

 

Kofi also indicated that taking scientific stock of what is contained in
Liberia's territorial waters and producing data to ensure the management of
the resources is indeed a step forward for Liberia.

 

The speaker officially cut the ribbon on the state-of-the-art research
vessel owned by the government of the Kingdom of Morocco.

 

The vessel was officially commissioned to conduct a 14-day stock assessment
across the nine coastal counties, beginning with Grand Cape Mount on Friday,
January 26, 2024.

 

Mohammed SADIKI, Minister of Agriculture, Maritime Fisheries, Rural
Development, Water, and Forests of Morocco (AMFRDWFM), said in his remark
that the King of the Kingdom of Morocco has called for the development of an
integrated maritime economy and the extensive prospecting of off-shore
natural resources.

 

SADIKI said this integrated economy must be based on continual investment in
the maritime fishing sector, encouragement of the blue economy, and support
for renewables.

 

Meanwhile, on Saturday, January 27, 2024, NAFAA Director General also led
the Moroccan research vessel term and other African fisheries ministers on a
tour at Popo Beach in the Point Four Community and at the NAFAA technical
service center.

 

 

The tour was intended to show foreign delegates what the fishing activities
and NAFAA technical service center in Liberia look like.

 

At the same time, Glassco concluded the tour with a media engagement in
Monrovia.

 

Glassco told reporters that she was overwhelmed by the coming of the
research vessels.

 

She expressed heartfelt gratitude to the three cabinet ministers and
parliamentarians from the big economies in Africa--Morocco, Ivory Coast, and
Guinea--for coming to Liberia and for launching the Morocco Research Vessel
to conduct scientific fish stock assessments.

 

She informed the media that Liberia is very grateful and excited about the
progress thus far by the involvement of the foreign ministers.

 

"Although Liberia's fisheries sector still has a lot of work to be done, the
support of the foreign fisheries ministers is not taken for granted in any
way," she told reporters.

 

"But we still need infrastructure. You have the human resources but when
there is no infrastructure, the whole value chain is cut," she said.

 

"You will only have a lot of knowledge and experience, but it is not that
useful because it cannot trickle down to have the kind of socioeconomic
impact that is needed for the country," she added.

 

SADIKI extended his appreciation to NAFAA for the invitation and opportunity
to put into practice their corporation.

 

"And it has been a very nice place to discuss the challenges and also
potentials that we have together and to join forces and efforts in other
countries to exchange best practices and develop the sectors in all the
countries. This time it was focused on the Liberian fisheries sector, seeing
the opportunities and challenges and how the country adds value to fisheries
resources," he said.

 

-Observer.

 

 

 

 

Elon Musk announces first Neuralink wireless brain chip implant

Tech billionaire Elon Musk says his Neuralink company has successfully
implanted one of its wireless brain chips in a human for the first time.

 

Initial results detected promising neuron spikes or nerve impulses and the
patient is recovering well, he said.

 

The company's goal is to connect human brains to computers and it says it
wants to help tackle complex neurological conditions.

 

A number of rival companies have already implanted similar devices.

 

BBC News has approached both Neuralink and the US's medical regulator, the
Food and Drug Administration (FDA), for comment.

 

Mr Musk's company was given permission to test the chip on humans by the FDA
in May, a critical milestone after earlier struggles to gain approval.

 

This gave the green light for the start of the six-year study during which a
robot is being used to surgically place 64 flexible threads, thinner than a
human hair, on to a part of the brain that controls "movement intention",
according to Neuralink.

 

The company says that these threads allow its experimental implant - powered
by a battery that can be charged wirelessly - to record and transmit brain
signals wirelessly to an app that decodes how the person intends to move.

 

Posting on X, the social media platform he owns which was formerly known as
Twitter, Mr Musk said Neuralink's first product would be called Telepathy.

 

Telepathy, he said, would enable "control of your phone or computer, and
through them almost any device, just by thinking".

 

"Initial users will be those who have lost the use of their limbs," he
continued.

 

Referring to the late British scientist who had motor neurone disease, he
added: "Imagine if Stephen Hawking could communicate faster than a speed
typist or auctioneer. That is the goal."

 

While Mr Musk's involvement raises the profile of Neuralink, he faces
rivals, some of who have a track record dating back two decades. Utah-based
Blackrock Neurotech implanted its first of many brain-computer interfaces in
2004.

 

Precision Neuroscience, formed by a Neuralink co-founder, also aims to help
people with paralysis. And its implant resembles a very thin piece of tape
that sits on the surface of the brain and can be implanted via a "cranial
micro-slit", which it says is a much simpler procedure.

 

Existing devices have also generated results. In two separate recent US
scientific studies, implants were used to monitor brain activity when a
person tried to speak, which could then be decoded to help them
communicate.-bbc

 

 

 

Toyota recalls 50,000 US vehicles over airbag 'injury or death' fears

Toyota has urged owners of 50,000 older vehicles in the US to get immediate
repairs as airbag inflators made by Takata could explode and kill them.

 

The "Do Not Drive" advisory covers some of the world's biggest carmaker's
models from 2003 to 2005.

 

Since 2009, more than 30 deaths have been linked to air bag inflators
produced by Takata.

 

Toyota says "if the airbag deploys, a part inside is more likely to explode
and shoot sharp metal fragments".

 

Those fragments "could cause serious injury or death to the driver or
passengers," it added.

 

The vehicles involved in the recall are the 2003-2004 model Corolla,
2003-2004 Corolla Matrix, and 2004-2005 RAV4.

 

Serious issues with Takata airbag inflators have resulted in the biggest
motor industry safety recall in history, involving more than 100 million
products and over 20 carmakers.

 

After more than a decade and a half of recalls, lawsuits and a criminal
investigation in the US, Takata filed for bankruptcy in 2017. Its assets
were sold to Chinese-owned Key Safety Systems, for about $1.6bn (£1.3bn).

 

This is not the only issue Toyota has been dealing with in recent months.

 

This week, the Japanese car giant suspended shipments of some vehicles
because of irregularities in certification tests for diesel engines, which
were developed by Toyota Industries.

 

An investigation found that Toyota Industries employees manipulated
horsepower output tests.

 

The affected engines are used in 10 models sold globally, including the
Hiace van and Land Cruiser sport utility vehicle, Toyota said.

 

Toyota is also seeking to resolve a case of misconduct at small car
specialist Daihatsu, after it admitted falsifying safety tests dating back
more than three decades.

 

Late last year, Daihatsu headquarters were raided by Japan's transport
ministry and global shipments of the vehicles were suspended. The government
has since revoked certification of three Daihatsu models.

 

When asked this week about the scandals at Toyota's subsidiaries, president
Koji Sato acknowledged that workers had felt pressure to cut corners in an
intensely competitive industry.

 

"We recognise that not only people at the testing site but also management
did not have proper understanding of certification," he said.

 

Separately on Tuesday, Toyota said it sold a record 11.2 million vehicles in
2023, cementing its position as the world's top selling carmaker for a
fourth year in a row.

 

Its nearest rival, Germany's Volkswagen, sold 9.2 million vehicles last
year.-bbc

 

 

 

US weapons sales abroad hit record high in 2023, boosted by Ukraine war

US weapons sales overseas rose sharply last year, reaching a record total of
$238bn (£187bn), as Russia's invasion of Ukraine stoked demand.

 

The US government directly negotiated $81bn in sales, a 56% increase from
2022, the state department reported.

 

The rest were direct sales by US defence companies to foreign nations.

 

Ukraine's neighbour Poland, currently on a drive to expand its military,
made some of the biggest purchases.

 

Poland bought Apache helicopters for $12bn, and also paid $10bn for High
Mobility Artillery Rocket Systems (Himars) and $3.75bn for M1A1 Abrams
tanks, the department said in a report for the US government's fiscal year
that ended in October.

 

It also spent $4bn on Integrated Air and Missile Defence Battle Command
Systems.

 

Prime Minister Donald Tusk has vowed to continue the previous conservative
government's military modernisation programme, which aimed to make Poland
"the most powerful land force in Europe".

 

Could Himars missiles help Ukraine defeat Russia?

Germany, meanwhile, spent $8.5bn spent on Chinook helicopters. Bulgaria paid
$1.5bn for Stryker armoured vehicles and Norway bought $1bn worth of
multi-mission helicopters.

 

The Czech Republic bought $5.6bn in F-35 jets and munitions.

 

"Arms transfers and defence trade are important US foreign policy tools with
potential long-term implications for regional and global security," the
state department said in its annual memo released on Monday.

 

Sales were also boosted by countries turning away from Russia, which has
been the second largest seller of weapons after the US for decades,
according to the head of the department's arms transfers office.

 

"The Russian defence industry is failing and continues to fail," said Mira
Resnick told Politico, adding that Russian weapons manufacturers are being
"denied the resources that come from exports", such as cash.

 

President Joe Biden's administration has argued that American support to
Ukraine boosts the domestic economy through arms sales. Still, US lawmakers
look increasingly willing to end direct support to Ukraine, with many
Republicans pushing for assistance to be tied to an overhaul of US
immigration policy.

 

One Wednesday, Nato Secretary General Jens Stoltenberg will visit a Lockheed
Martin missile facility in Alabama, hoping to underscore the importance of
the US defence industry to the alliance.

 

Outside of Europe, the weapons report showed that South Korea paid $5bn for
F-35 jets and Australia spent $6.3bn on C130J-30 Super Hercules planes.
Japan reached a $1bn deal for an E-2D Hawkeye surveillance plane.-bbc

 

 

 

 

Amazon-iRobot deal scrapped after EU challenge

Amazon is scrapping its planned takeover of vacuum maker iRobot following
opposition from EU competition authorities.

 

The companies said in a joint statement that they were "disappointed" but
there was no clear regulatory path for the purchase of the Roomba maker.

 

First announced in 2022, the deal would have been one of Amazon's largest
ever acquisitions.

 

The end of the deal is a major blow for iRobot, which has announced job
cuts.

 

The robot vacuum maker has seen sales decline and it said it would
immediately embark on a restructuring, which will see 350 jobs axed, or 31%
of its staff.

 

The company is also shrinking its office footprint and scaling back spending
on research. Its chief executive is also leaving.

 

In the announcement, the companies said the decision to scrap the deal was
mutual and Amazon would pay the previously agreed $94m break-up fee.

 

Amazon said the outcome was an indication that regulatory decisions to block
mergers in the name of increasing competition and protecting consumers from
monopolies were backfiring.

 

"This outcome will deny consumers faster innovation and more competitive
prices, which we're confident would have made their lives easier and more
enjoyable," said David Zapolsky, Amazon senior vice president and general
counsel.

 

He said mergers are intended to help companies like iRobot compete with
rivals.

 

"Undue and disproportionate regulatory hurdles discourage entrepreneurs, who
should be able to see acquisition as one path to success, and that hurts
both consumers and competition - the very things that regulators say they're
trying to protect."

 

Shares in iRobot tumbled more than 15% on the news. They are down by more
than 50% so far this year.

 

Amazon takeover of iRobot to be blocked by EU

Amazon's pursuit of iRobot was intended to help it expand its range of
smart-home appliance offerings. It had originally proposed to pay $1.7bn
(£1.3bn), reducing that price last year amid delays.

 

In the UK, the Competition and Markets Authority (CMA) gave the deal the
all-clear last year, finding that Roomba's place in the UK market was
"modest" and that it already faced several significant rivals.

 

But European competition authorities were worried that iRobot's tie-up with
Amazon would make it difficult for other vacuum-makers to compete,
especially if Amazon were to give the Roomba benefits over rivals on its
e-commerce site.

 

The data collected by Roomba had also raised questions.

 

The European Commission opened a formal investigation last year and had a
deadline of 14 February to make its decision. It indicated earlier this
month it was prepared to block the deal.

 

The takeover also faced scrutiny in the US, where officials in the Biden
administration have been taking a harder line on mergers, challenging
high-profile deals in the airline industry, as well as pushing back against
the tech giants.

 

That strategy has been controversial and only sometimes successful.
Microsoft took US authorities to court after they tried to block its merger
with Activision Blizzard gaming. That deal has since gone through.-bbc

 

 

 

 

Britishvolt buyer David Collard charged with assault in New York

The man behind a buyout of the collapsed battery maker Britishvolt has been
charged with assault and harassment in New York.

 

The charges against David Collard followed an alleged altercation on Madison
Avenue in November.

 

The incident, first reported by Australian website Open Politics, has come
to light at a time when the future of the takeover remains uncertain.

 

Mr Collard insists he acted in self-defence.

 

The incident in New York took place on Wednesday, 15 November. According to
court documents, Mr Collard was accused of striking a man about the face
with a closed fist causing "a laceration to the right side of the face and
substantial pain".

 

In total he faces two charges of assault causing physical injury and one of
attempted assault, as well as further charges of harassment and aggravated
harassment. He has pleaded not guilty.

 

In a statement, provided to Open Politics, Mr Collard said he had intervened
to protect a female friend who had been experiencing harassment.

 

"Confronting the individual, an altercation ensued due to his aggressive
behaviour. In self-defence, I took appropriate measures," he said.

 

Britishvolt

Mr Collard is the founder of Scale Facilitation, an investment firm based in
his native Australia. Its subsidiary Recharge Industries agreed to take
control of Britishvolt after it went into administration in January.

 

The ambitious British start-up had planned to build a £4bn "gigafactory" to
manufacture battery packs for a new generation of electric cars. It was once
hailed by the former Prime Minister, Boris Johnson, as a part of his "green
industrial revolution".

 

It would have been built on the site of an old power station at Cambois,
near Blyth in Northumberland. But the venture ran out of money and collapsed
into administration in early 2023.

 

Mr Collard agreed to buy the company for £8.57m, saying he would use the
site to build batteries for the Australian military.

 

Just over £6m was paid immediately, followed later by a further £300,000.
But £2.2m remains outstanding, despite having become due last April. Earlier
this month, the administrator EY extended the administration period until
January 2025.

 

In order to secure the Cambois site, Recharge Industries would also need to
raise another £11m to pay property investor Katch, which has a financial
claim on it.

 

Current and former staff at Britishvolt have repeatedly complained that
money due to them, including several months of wages and pension
contributions, have been left unpaid.

 

One former senior executive was paid in full in December, but only after
issuing a statutory demand - the final step a creditor needs to take before
issuing a formal request to wind up a company.

 

The BBC understands at least seven further statutory demands have since been
issued, and Mr Collard has agreed payment plans with some of those involved.
But others say they have heard nothing.

 

For several months, Mr Collard has insisted that funding from a new investor
is imminent, and that this would allow the deal to go forward. However, it
has yet to materialise.

 

Sources within Recharge Industries have previously acknowledged that a tax
raid by Australian federal police on its parent company Scale Facilitation
in June last year made finding new funding more difficult.

 

At the time, sources close to Mr Collard said the raid was due to a
misunderstanding of the interaction between US and Australian tax filings,
and that all parties were co-operating.

 

Scale Facilitation denied any wrongdoing. However, the incident served to
fuel growing doubts about the Britishvolt project.

 

EY, which worked as an adviser to Britishvolt prior to its collapse before
taking on the role of administrator afterwards, has defended its decision to
sell the business to Recharge Industries.

 

It has pointed out that "£6.1m was received on initial completion of the
transaction. This payment, which has been received, was materially above the
next best alternative, deliverable offer received by the joint
administrators."

 

In a statement, EY said: "The administrators are considering all options
available to them to recover monies for the company's assets for the benefit
of creditors."

 

As of August last year, the administrators' fees had reached £3.8m, with
£1.9m having been paid.-bbc

 

 

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

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INVESTORS DIARY 2024

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


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

 


 

 


(c) 2024 Web: <http://www.bullszimbabwe.com>  www.bullszimbabwe.com Email:
<mailto:info at bulls.co.zw> bulls at bullszimbabwe.com Tel: +263 4 2927658 Cell:
+263 77 344 1674

 


 

 

 

 

 

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