Major International Business Headlines Brief::: 31 March 2025

[Bulls n Bears]

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Major International Business Headlines Brief:::  31 March 2025 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  Uganda: Kampala Floods - Road Construction Under Scrutiny

ü  Nigeria: Govt, EU Move to Strengthen 1.3bn Euro Trade Investments

ü  Nigeria: AfDB Unveils Country Strategy Paper for Nigeria's Agriculture,
Infrastructure Growth

ü  Nigeria: We'll Deliver Sustainable Clean-Up Project in Ogoni, Says HYPREP
Coordinator

ü  Nigeria: Govt Recovers $4.85bn From $8.26bn Tax Liability By Oil Firms -
NEITI

ü  Bitcoin Price Trends and the Future of Digital Transactions in Africa

ü  Nigerians to Pay More for Petrol Amid Domestic Dispute, Crude Price Hike

ü  Rwanda Expands Solar Power to Electrify Close to 1,000 Schools By 2025

ü  South Africa: Medium-Term Development Plan 2024-2029 Finalised

ü  AI was enemy No. 1 during Hollywood strikes. Now it's in Oscar-winning
films

ü  Starmer and Trump discuss 'productive negotiations' on economic deal

ü  Primark boss quits after complaint about behaviour

ü  Global shares slide as Trump tariffs loom

ü  Liberia: Power Outage Disrupts Operations At Roberts International
Airport

 

 


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Uganda: Kampala Floods - Road Construction Under Scrutiny

Heavy floods hit Kampala on Wednesday, leaving a trail of destruction and
disruption across the city.

 

While many residents attributed the flooding to the rains, experts suggest
that ongoing road construction could be a significant contributing factor.

 

Engineer Apollo Sserwanga, a water resources expert, noted that extensive
road construction has altered Kampala's natural drainage system.

 

"The roads are blocking the natural flow of water, causing it to accumulate
and overflow," he said.

 

"This is exacerbated by the fact that many of the city's drainage channels
are either blocked or inadequate."

 

 

The construction of new roads and the expansion of existing ones have
changed the city's landscape, disrupting water flow.

 

"The roads are acting as barriers, preventing water from flowing freely,"
Sserwanga explained. "This is causing water to accumulate in certain areas,
leading to flooding."

 

Dr. Sarah Nalule, an environmental scientist, echoed these concerns,
emphasizing the need for better urban planning.

 

"We need to reconsider our urban development strategies and account for the
environmental impact of infrastructure projects," she said. "We can't keep
building roads without thinking about the consequences."

 

As Kampala recovers from the floods, experts are calling for a more
sustainable approach to urban development.

 

"We need to find a balance between development and environmental
protection," Sserwanga urged. "Sacrificing our environment for the sake of
development will only lead to more problems in the future."

 

Read the original article on Nile Post.

 

 

 

 

Nigeria: Govt, EU Move to Strengthen 1.3bn Euro Trade Investments

The Federal Government and the European Union (EU) have commenced high-level
discussions on ways to strengthen EU-Nigeria economic cooperation.

 

A statement issued by the Finance Ministry on X noted that the Minister of
Finance and Coordinating Minister of the Economy, Wale Edun and the EU
Ambassador to Nigeria, Gautier Mignot, engaged in the discussion at a
meeting in Abuja, adding that Amb. Mignot underscored the EU's position as
Nigeria's largest trading partner and a major source of foreign direct
investment.

 

He proposed the creation of a formal trade and investment dialogue framework
to unlock further opportunities through enhanced collaboration, particularly
in infrastructure, green finance, and sustainable development.

 

The meeting spotlighted the EU's 1.3 billion euro investment portfolio in
Nigeria, recent engagement by the European Bank for Reconstruction and
Development (EBRD), and the Global Gateway Investment Strategy aimed at
deepening Africa- Europe economic ties.

 

The minister welcomed the initiative, reaffirming Nigeria's commitment to
macroeconomic stability, investor-friendly reforms, and digital
transformation.

 

He emphasised ongoing reforms to improve the ease of doing business,
projected a GDP growth of 4.6% by 2025, and rising trade surplus as key
indicators of Nigeria's economic progress.

 

The discussions also highlighted strategic projects such as the
Trans-Saharan Gas Pipeline and the National Single Window trade system,
further aligning with Nigeria's fiscal consolidation and infrastructure
modernisation agenda.

 

Read the original article on Vanguard.

 

 

 

 

 

Nigeria: AfDB Unveils Country Strategy Paper for Nigeria's Agriculture,
Infrastructure Growth

The African Development Bank Group (AfDB) has unveiled a new Country
Strategy Paper to boost agriculture and enhance economic growth in Nigeria.

 

A delegation led by the Director General of AfDB's Nigeria Country
Department, Dr. Abdul Kamara recently met with Finance Minister Wale Edun to
deepen collaboration in key sectors of the economy.

 

Kamara announced the launch of a new Country Strategy Paper, reaffirming
AfDB's commitment to transformative projects in Nigeria.

 

These include the second phase of the National Agricultural Growth Scheme
(NAGS), which focuses on food security and rural development. He also
highlighted infrastructure progress in the Special Agro-Industrial
Processing Zones (SAPZ), with advancements in Sokoto and planned expansions
in Cross River and Kaduna States.

 

Speaking during the Conference on Scaling Finance for Smallholder Farmers in
Nairobi, Dr. Adesina outlined the Bank's innovative approach, which includes
trade credit guarantees, blended finance mechanisms, and first-loss coverage
to close the financing gap for farmers.

 

These instruments aim to reduce the high transaction costs of supporting
enterprises, with the backing of technical assistance.

 

The conference, organised in partnership with the Pan African Farmers'
Organization (PAFO), addressed Africa's critical $75 billion annual
financing gap for farmers and agribusinesses.

 

Adesina, who recently received Kenya's highest national honor from President
William Ruto, called for global action to unlock Africa's agricultural
potential.

 

Read the original article on This Day.

 

 

 

 

Nigeria: We'll Deliver Sustainable Clean-Up Project in Ogoni, Says HYPREP
Coordinator

Port Harcourt — The project coordinator of Hydrocarbon Pollution Remediation
Project (HYPREP), Prof. Nenibarini Zabbey has assured that the federal
government agency will deliver a sustainable clean-up project in Ogoniland.

 

The HYPREP project coordinator made the assurance at the weekend, during a
courtesy visit of members of the 17th Governing Council of the University of
Port Harcourt, led by the Pro-Chancellor and Chairman, Governing Council,
Senator Mao Ohuabunwa, and the Vice Chancellor, Prof Owunari Georgewill, at
the agency headquarters in Port Harcourt.

 

Addressing the visitors, Prof. Zabbey explained that HYPREP is a project
under the Ministry of Environment, charged with responsibility of
remediating oil impacted lands and wetlands in Ogoni land and also to
restore the livelihoods of the people.

 

He said so far, the agency has provided potable water to 30 communities,
assuring that at the end of this year it will provide clean water for
additional 60 communities. "We are also straightening the health care system
in Ogoni. We have straightened four hospitals; this year we will add four
hospitals".

 

Speaking further on their achievements, the project coordinator said "We are
building cottage hospital and Ogoni Specialists Hospital. It is important to
state that the specialist hospital will have an oncology unit, because the
key findings of UNEP is that the Ogoni population has been exposed to
casino-genic contaminants from carbon pollution over the years. So, there is
the need to monitor them and take them off cancer and cancer related
ailments.

 

"We are also carrying out our environmental remediation and restoration
which we divide into three components: shoreline clean-up, soil and ground
water remediation and mangrove restoration."

 

He said: "For the first time in this region, we are restoring different
species of mangroves. Before now, it was usually the red mangrove, but now
we are planting red, white and black mangroves. We have also provided
knowledge legacy in the Ogoni land and for the general public.

 

"We are constructing the Ogoni power project and we are constructing the
Centre of Excellence for environmental restoration. We have over 100
projects going on in Ogoni at the moment.

 

"Last year we provided an educational support grant to 250 Ogoni
undergraduate students. This year we issued 300 scholarships to 300 post
graduate students from Ogoni extraction, 100 are doing PhD, while 200 are
doing Masters."

 

Noting that the University of Port Harcourt is the technical backbone of the
Ogoni cleanup, Prof Zabbey said "We appreciate this visit because it is a
major encouragement for the entire team in implementing this project for me
and all my colleagues. We appreciate this visit and even the promise to
support the bill that will elevate the project to an agency".

 

Earlier in his remarks, Senator Mao Ohuabunwa, noted the agency's effort in
ensuring the remediation and restoration of the Ogoni land.

 

Senator Ohuabunwa who represented Abia North Senatorial District at the
National Assembly said: "This is a new agency, a child of necessity, but
within a short period what we are hearing shows that you are doing well. And
we are here to solidarise with you to assure you that as our own we will
continue to partner with you".

 

He said: "We need a permanent structure like this. When you talk about
remediation, it is not only in Rivers or Ogoniland, even in the north we
have issues of pollution that require immediate attention in areas of
remediation.

 

"So, if this institution by law is made a permanent agency under the federal
ministry of environment, it will be correct to do that. And I think as an
alumnus of the national assembly, I will propose that bill and support,
because the national assembly."

 

He added that the reason for their visit was to congratulate the project
coordinator on his appointment, collaborate with him and inform him of the
forthcoming 50th anniversary of the university.

 

In another development, the HYPREP has inducted 100 trainees of its
seafaring training at the Charkin Maritime & Offshore Safety Training Ltd,
Port Harcourt.

 

Prof. Zabbey, represented at the induction ceremony by Prof Damian-Paul
Aguiyi, said the selection process was transparent and the commencement of
the training attests to the Project's commitment to keeping to its promises.

 

Zabbey added that the choice of Charkin Maritime Academy for the training
further confirms HYPREP's commitment to giving Ogoni youths a better
leverage to benefiting from the enormous opportunities the maritime sector
offers, urging the trainee to make the most of the training and skills
acquired.

 

Read the original article on This Day.

 

 

 

 

Nigeria: Govt Recovers $4.85bn From $8.26bn Tax Liability By Oil Firms -
NEITI

The Nigeria Extractive Industries Transparency Initiative (NEITI) said the
federal government was able to recover over $4.85bn out of the $8.26bn oil
and gas companies were owing the country as contained in its 2021 report.

 

Speaking during a press briefing, the Executive Secretary of NEITI, Orji
Ogbonnaya Orji, said in the 2023 industry report released in September 2024,
NEITI had disclosed liabilities of $6.175 billion and N66.378 billion,
showing a significant decline from the liabilities of 2021 reports.

 

He said the liabilities were still worrisome because of the need for the
government to find resources to fund its 2025 budget.

 

He noted that analyses of how these liabilities were paid could support the
federal government's domestic revenue mobilisation revealed that the
liabilities, when converted at N1,500 to one dollar, would amount to N9.33
trillion. He said the sum was more than the federal government's total
budget for health, education, agriculture and food security which totalled
N8.73 trillion.

 

"Further analyses show that the sum is also more than the total budget for
national security at N6.11trillion, health at N2.48 trillion and social
welfare of N724 billion all put together.

 

"The liabilities can also knock off about 72 per cent of the federal
government's budget deficit of N13 trillion for 2025. NEITI is therefore
calling on relevant agencies responsible for collecting these revenues to do
the needful and support our governments at all levels to provide the
much-needed infrastructure for our citizens," he said.

 

Orji said the 2024 report would be released in October while the agency
would also focus on divestment by international oil companies.

 

He added that between 1999 and 2023, Nigeria has earned $831bn in the oil
and gas industry while for the solid mineral sector, the 17 years data has
shown Nigeria earned N1.55tr.

 

Read the original article on Daily Trust.

 

 

 

Bitcoin Price Trends and the Future of Digital Transactions in Africa

There’s an increasing acceptance of Bitcoin on the African continent. More
businesses, individuals and even financial organizations are using
cryptocurrency to transact as an alternative to traditional banking systems.
With the economies of the continent experiencing a lot of currency
instability, poor banking infrastructure and exorbitantly priced
remittances, Bitcoin is coming up as a viable solution financially.
Analyzing  Bitcoin price trends  is crucial for investors, traders and
businesses in Africa who want to implement digital assets in their
operations.

 

The Impact of Bitcoin on the African Economy

 

North American nations have been at the forefront of Bitcoin adoption;
however, Nigeria, Kenya and South Africa have recently emerged as leaders in
Africa. Peer-to-peer cryptocurrency trading across the continent reached
over $100 billion in 2023, making Africa one of the fastest-growing markets
for blockchain technology, according to a report by Chainalysis. Several
factors that fuel this growth include:

 

Less Dependable Fiat Currency - Zimbabwe and Nigeria have poor liquidity
currencies, which makes it prudent for citizens to invest in Bitcoin to
minimize losses due to devaluation over time.

Payments for Foreign Worker Remittances – Bitcoin is useful for relocating
payments since it eliminates the need for using bitcoin remittance centers
that charge ridiculous fees for payment processing.

Financial Inclusion – A large portion of the African population does not use
banks. This makes bitcoin an ideal alternative, as it offers a decentralized
and unbanked-friendly option for conducting transactions.

How Bitcoin’s Price Trends Affect the African Market

 

Businesses and individuals’ activities with bitcoin are directly
proportional to its price trends and different nations have different ways
through which they analyze this. Take Nigeria, for instance, where the
e-commerce platform Patricia and several local sellers on Jumia have had to
change their prices multiple times a day to keep in line with the
fluctuating value of bitcoin. This has led to the platform’s volatility
driving the pricing strategy of freelancers and remote workers who are paid
in bitcoin and the currency has to be converted before being spent. As
investor sentiment increases, so too does Bitcoin’s value, reaching 71,333
dollars in April of 2024, according to estimates from CoinMarketCap. The
volatility, however, remains high and so there is a lot of uncertainty for
African investors and businesses hoping to capitalize on the price movement.

 

Amongst the factors that impact the price movement of bitcoin, these are the
most significant:

 

Global Adoption and Institutional Investments – An increase in spending by
corporations leads to a higher demand and price for bitcoin.

Regulatory Changes – The law about cryptocurrency in different African
countries is a vital influencer of regard and value for bitcoin.

Market Speculation and Trading Activity – The volatility of Bitcoin's price
remains dependent on investor sentiment, especially in the emerging markets.

African Governments and Cryptocurrency Regulation

 

The policies for regulating Bitcoin are different in various countries in
Africa. While countries like South Africa and Kenya are skeptical but
working towards adjusting their policies to incorporate cryptocurrency into
their economies, other nations remain hesitant. The following is a summary
of the most important changes:

 

South Africa - The Financial Sector Conduct Authority (FSCA) offered more
structured regulations by classifying crypto assets as financial products.
This is a notable development towards more stringent regulations.

Nigeria - The Central Bank of Nigeria has previously restricted banks from
supporting the facilitation of crypto transactions but is in the process of
allowing it due to newly offered licenses to cryptocurrency exchanges, which
under certain guidelines allow them to conduct regulated crypto activities.

Kenya - The Capital Markets Authority is seeking ways to regulate the
security features of Bitcoin to enable it to reduce fraud.

Bitcoin’s Impact on E-commerce and Small Businesses in Africa

 

With the rise of cryptocurrency acceptance, small-scale businesses and
e-commerce businesses  are increasing the option of paying for goods and
services in Bitcoin. Businesses can reduce costs by:

 

Decreased Transaction Fees - Payments made using Bitcoin are usually cheaper
than those made through credit cards. For example, some merchants in Ghana
are beginning to use Bitcoin to bypass high fee payment processing, increase
their profit margins and improve overall business profitability.

Reduced Transaction Delays – Banking transactions processed through the
blockchain do away with delays associated with traditional banking.

Access to Global Markets – Businesses in Africa have no issues engaging with
foreign clients because there is no currency conversion needed.

For instance, Yellow Card is a cryptocurrency exchange that operates in
several countries in Africa and allows the trading of Bitcoins. In 2024,
Yellow Card received more compliance approvals, which allowed the business
to serve more than 20 countries in Africa. It now stands as a central player
in the regional ecosystem of crypto. The platform allows businesses or
individuals to transact efficiently with Bitcoin.

 

Challenges and Risks of Bitcoin Adoption in Africa

 

Unlike the advantages, there are several challenges regarding the adoption
of Bitcoin in Africa:

 

Regulatory Uncertainty: The considerable flux of policies is difficult for
businesses and investors to navigate, although some countries are beginning
to put clearer policies into place, such as South Africa and Nigeria. As an
example, Nigeria has plans to regulate the exchange of digital assets and
put some control over it through the issuing of licenses for crypto
exchanges, which are expected to be released in 2024.

Price Volatility: Changes in the price of Bitcoin can affect savings and
transactions for businesses.

Limited Infrastructure: Internet and computer skills are primary
requirements for greater acceptance.

Conclusion

 

Bitcoin is increasingly becoming a key component of Africa’s financial
ecosystem by providing banking services or alternatives, facilitating
financial remittances and supporting inclusion. Experts expect that Africa
will increasingly adopt Bitcoin as a major tool of payment and remittance
service across borders and for digital financial transactions. This will be
the case if the regulations supporting its growth are put in place. While
price volatility and regulatory challenges persist, knowing how prices
behave and the developments within the Bitcoin ecosystem will help investors
and businesses understand the new economy Africa is adopting. Africa indeed
has the chance to use strategic adoption of technology to improve economic
development and innovation through Bitcoin if action is taken. 

 

 

 

Nigerians to Pay More for Petrol Amid Domestic Dispute, Crude Price Hike

The Federal Government's failure to renew the Crude for Naira agreement
between NNPC Limited and Dangote Refinery, along with rising global crude
oil prices, is set to push petrol pump prices higher across Nigeria in April
and beyond.

 

The six-month agreement, which expired in March, was initially brokered by
the government last year. It allowed the national oil company to supply
crude oil to the 650,000-barrel-per-day Dangote Refinery, with payments made
in Naira.

 

Despite initial challenges, the deal gradually reduced petrol prices from
over N1,000 per litre to around N820, depending on location. Following the
failure of the two companies to renew the agreement, Dangote Refinery had
two weeks ago announced that it was halting sale of petrol products to the
domestic market in Naira.

 

The decision has raised concerns that the price of petroleum products,
especially premium motor spirit also known as petrol will rise.

 

As an indication of what is coming, petrol has risen across the country,
with new pump prices reaching up to N960 per litre, according to the latest
price list, obtained from MRS Oil and Gas by Financial Vanguard.

 

This was even as private oil depots have increased the price of petrol to
N900 per litre from more than N890 per litre, weekend, due to rising prices
of crude oil and other factors in the global market.

 

The adjustments, which became effective from March 28, 2025, indicated
higher prices across major cities, with Lagos having the lowest rates and
northern states recording the highest.

 

In Lagos, petrol will sell for N930 per litre, while states in the South
West, including Ogun, Oyo, Osun, Ekiti, Kwara, and Ondo, will pay N940 per
litre.

 

Also, in the South South and South East regions, including Edo, Abia, Akwa
Ibom, Bayelsa, Rivers, Cross River, and Enugu, the product would be sold at
N960 per litre.

 

In Abuja, Kaduna, Benue, Kogi, Niger, Sokoto, Kebbi, and Nasarawa will pay
N950 per litre, while Zamfara, Kano, Jos, Bauchi, Taraba, Adamawa, Borno,
Katsina, Jigawa, Gombe, and Yobe will pay N960 per litre.

 

Free Carrier Agreement (FCA) price, which determines how much marketers pay
before selling fuel, also differs from one part of the nation to another.

 

While FCA price stood at N905 per litre, Borno, the FCA prices of Taraba,
Adamawa, and Yobe stood at N888 per litre.

 

Private depots raise prices to N900 per litre

 

Already, private oil depots have increased the price of petrol to N900 per
litre from more than N890 per litre, due to rising prices of crude oil and
other factors in the global market.

 

Checks by Financial Vanguard, weekend, showed that oil marketers with N900
per litre depot prices included Rainoil, Prudent, A.Y.M Shafa and Mainland.

 

The checks also indicated that the pump prices of petrol would likely be
adjusted upwards when the product gets to the filling stations.

 

The price of crude oil, a major feedstock involved in refining rose $75 per
barrel from $70 per barrel, thus causing refineries, including the $650,000
barrels per day Dangote refinery to incur additional costs.

 

Checks by Financial Vanguard indicated that in line with its pronouncement,
the $20 billion Dangote refinery did not load trucks based on the nation's
Naira for Crude programme, weekend.

 

The checks showed that lifting through ships that charged dollar rates were
ongoing to enable it cover costs, especially as a bulk of its crude oil was
still sourced in dollars from the international market.

 

Petrol price likely to increase further -- Marketers

 

Petroleum products marketers have cautioned that pump prices would likely
increase in the coming days unless the Federal Government resolves the
dispute between NNPC Limited and Dangote Refinery over the crude for Naira
deal.

 

Speaking to Vanguard on the impact of Dangote's decision, the Public
Relations Officer, Independent Petroleum Marketers Association of Nigeria,
IPMAN, Chinedu Ukadike said pump price would likely go up due to the cost of
sourcing foreign exchange to pay for the product.

 

He pointed out that marketers may also resort to selling their petroleum
products in dollars as the currency has now become the means of exchange in
Nigeria.

 

"The pressure on the dollar will increase because it has become the means of
exchange. Marketers will begin to sell petrol at filling stations in
dollars. And this will have a negative impact on the prices of petroleum
products across the country.

 

"We don't want to cause panic in the energy industry but what we are seeing
now is not encouraging. Any increase in cost will be passed on to consumers
eventually", he added.

 

He said the marketers were informed that the crude for Naira deal ended
March 1, 2025, contrary to claims made by government officials.

 

Price hike impacts operations -- Platform

 

Commenting on the development, petroleumpriceng.com stated: "The development
has impacted the operations of oil marketers, including MRS., Ardova. They
had to source their ship supply in dollars, that would culminate in
increasing the pump prices of petrol in Lagos and other parts of the nation.

 

"Already, private depots have raised their prices to 900/L, independent
retail outlets are selling between 930-950/L from below N900 per litre. The
inability of the federal government to resolve all issues that hinder the
execution of Naira-crude policy will keep the petrol price rising."

 

Landing cost hits N885 per litre -- MEMAN

 

Similarly, the Major Energies Association of Nigeria (MEMAN) said that the
landing cost of imported petrol has increased by N88 per litre in one week.

 

In its daily energy bulletin on Wednesday, March 26, 2025, MEMAN said the
increase was from N797 per litre last week to N885 per litre this week.

 

MEMAN, stated: "As the market stabilises, challenges will arise, and
resistance from those accustomed to price control is inevitable. But with
robust regulation, industry collaboration, and public transparency, Nigeria
can fully realise the benefits of this transformation."

 

It added that a well-functioning, deregulated market will attract more
investment, improve efficiency, and create a more competitive landscape that
benefits both businesses and consumers.

 

Expect rise in fares, goods, others --PETROAN

 

In a telephone interview with Financial Vanguard, weekend, the President of
Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN,
Billy Gillis-Harry, said the increase in petrol prices would culminate in
higher transport fares and rising prices of goods and services.

 

He said the plights of many marketers struggling to meet foreign exchange
rates and distribution expenses, affecting fuel availability in some areas,
would worsen.

 

Gillis-Harry said: "The market situation has started to affect operations in
the sector. Some have the resources to buy in dollars but others do not.
This means that it could affect the provision of adequate products to the
domestic market on a sustainable basis.

 

"There is no doubt that the upward adjustment of petrol prices would impact
on transport fares, food, clothing and other basic necessities. We need to
be careful because petrol is not like other commodities. It is an important
source of energy and relevant to all sectors of the economy.

 

"Ordinarily, petrol should be made available on a sustainable basis in all
parts of the nation. This means that refiners should refine adequate petrol.
Depot owners should have the capacity to keep huge stocks. Marketers should
have the retail outlets to distribute it and other products.

 

"PETROAN members have more than 7,000 retail outlets. We would like to have
a more stable environment. Pushing up prices is not the best at this time.
Some of our members have started buying products in dollars. Everyone does
not have dollars to buy.

 

"It is a work in progress that should be carefully watched and monitored.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority,
NMDPRA, should be up and doing as effective regulation is required. There
should be adequate stakeholders' engagements to ensure that no single party
dominates the space while others suffer.

 

"We are currently discussing with some foreign companies to bring in petrol
at a more favourable terms for our members without necessarily paying in
dollars. We can achieve a lot if we work together."

 

Instability to worsen inflation, welfare, poverty -- CPPE

 

Similarly, the Managing Director/CEO, Center for the Promotion of Private
Enterprise, CPPE, Dr. Muda Yusuf, said: "First, I believe that the new
pressure on global crude price is obviously a key factor in the price of
petrol and other petroleum products. There is a strong correlation between
crude oil and the prices of petroleum products. It is a major factor playing
out here.

 

"Second, the government's Naira for Crude arrangement which protected the
sector has not been sustainable. The arrangement, targeted at enhancing the
operations of domestic refineries, has not been working properly. We are
going back to benchmark domestic prices with global rates.

 

"Third, there is also the foreign exchange factor. The exchange rate has
been stable for about eight months. But there are concerns about speculated
pressure on our reserves.

 

"These are the critical factors influencing the current dynamics. They could
fuel inflation because of the important role of petrol and other petroleum
products. In fact, once energy prices start to go up, the costs of
production, distribution and others also rise.

 

"But our immediate concern is its impact on inflation. It has implications
for welfare, poverty and profitability of investments. It also has an impact
on investors' confidence in the nation, meaning that the macro-economic
stability is at risk.

 

"We shall see how it goes. If Russia brings in products into the
international market with supplies, it can assist to bring down energy
prices. If there is a better understanding between the United States and
Iran and if there is a better understanding between Russia and Ukraine, then
things would be better. They had optimism towards the eventual end of the
Ukraine war. We are not seeing the end to the Russia - Ukraine conflict that
President Donald Trump promised, which should impact on global trade and
businesses with Nigeria and others."

 

He added: "Also, before now, many of us celebrated that things had started
to get better and prices were coming down. But we are seeing a reversal at
this time. We hope the government can adopt measures to achieve moderation."

 

FG should revive Naira for Crude programme -- IPMAN

 

On his part, the National Public Relations Officer of the Independent
Petroleum Marketers Association of Nigeria, IPMAN, Okanlawan Olanrewaju, in
another interview with Financial Vanguard, called for the strengthening and
repositioning of the Naira for Crude programme.

 

He said: "The Naira for Crude programme started well and was very useful in
stabilizing the sector because oil marketers were able to buy products
directly from the refineries.

 

"The programme should be revived. If the programme is not revived, the
current instability would encourage massive importation of petrol and other
petroleum products. The depot owners would start to play active roles as in
the past. Many middlemen should be expected while hoarding would likely be
experienced."

 

He called on operators, especially the International Oil Companies, IoCs, to
invest in domestic refineries, adding "We need more investors to invest in
refineries in order to increase our domestic capacity. If we refine more, it
would impact the sector and Nigeria's economy despite our challenges."

 

Consumers react

 

Speaking to Financial Vanguard, at an AYM Sharfa filling station in Karu, an
Abuja suburb, Marcus Ojie, who identified himself as a Bolt driver, said a
rise in pump would increase the fare paid by clients.

 

According to him, "We have seen gradual increase since last week but it is
still below N1,000 a litre. Last week it was N930, today it is N946 a litre
which is not good for both the drivers and the passengers. Any increase in
cost will be transferred to the passengers because that is the way it is.

 

"I want to appeal to the government to renew the agreement with Dangote
Refinery because it is good for the country. By now we were expecting the
price in Abuja to fall below N900 a litre in all the petrol stations, not
just at MRS or Adova stations", he added.

 

Also speaking at the retail outlet, John Yangabe, a civil servant, expressed
dissatisfaction over government failure to resolve the dispute, pointing out
that the operation of local refineries is a big boost for the Nigerian
economy.

 

"The coming of Dangote Refinery removed shame from the country because it is
disgraceful for an oil producing country like Nigeria, the giant of Africa,
to be importing petrol from countries which do not even have crude oil in
their ground.

 

"When deregulation started I stopped using car to go to work because of the
high cost of petrol. Now I drive only on weekends and I was hoping that the
price will go below N700 per litre so that I can start going to work in the
comfort of my car. The recent reversal that has seen price begining to go up
is not encouraging. The government must do something because price of petrol
affects the cost of transportation and prices of goods and services", he
stated.

 

Read the original article on Vanguard.

 

 

 

 

Rwanda Expands Solar Power to Electrify Close to 1,000 Schools By 2025

Schools in remote areas of Rwanda have welcomed the government's initiative
to deploy solar power, aiming to connect nearly 1,000 schools by the end of
2025. The effort is part of a new energy policy introduced in February.

 

Cyamburara Primary School, located in the remote Buhabwa Village, had
operated without electricity since its founding in 2003. The lack of power
hindered teaching and learning, forcing teachers to travel 35 kilometers to
print exam papers and essential documents. The cost of transportation, over
3,000 Rwandan francs per trip, further strained the school's limited
resources.

 

ALSO READ: Rwanda's new $300 million clean energy project unveiled

 

"Every week, students take tests, and we had to make these long trips for
printing," explained Ladislas Marora, the school headteacher.

 

The absence of electricity also delayed government initiatives such as the
"laptop-per-child" program and teacher laptop distribution. Before the solar
installation, students learned about computers only through textbook
illustrations.

 

"We don't know how to use computers, and we haven't seen any in our school.
We only know about them in theory," said Odile Abanabayo, a Primary five
pupil.

 

ALSO READ: Renewable energy's share in Rwanda reaches 52%

 

Impact beyond the classroom

 

The benefits of solar power extend beyond schools. Local residents, like
Claudette Nyirabaributsa from Kayonza District, highlighted the financial
relief of having access to electricity.

 

"Our family was spending 1,200 Rwandan francs weekly on phone charging in
distant urban centers. With solar power at the school, we're saving both
money and time," she said.

 

Other rural schools face similar challenges. Emmanuel Nzasingizuhoraho, a
teacher at GS Ruhanga in Gakenke District, noted that while his school
recently received solar panels, the lack of a computer lab and consistent
internet access continues to affect teaching quality and student retention.

 

ALSO READ: Women's week: Solar energy has the power to empower

 

"We can now download books, songs, and plays, enriching our teaching," he
said, emphasising the importance of expanding digital resources.

 

Community calls for expansion

 

Parents and students are advocating for solar power to be extended to homes,
enabling children to study at night and improve their academic performance.

 

"If we had electricity or solar power, our children could study at night,
improving their grades," said Felicien Nkundakozera, a resident of Muyira
Sector, Nyanza District.

 

According to the Rwanda Education Statistical Yearbook, approximately 20
percent of schools still lack electricity. This equates to nearly 1,000
schools struggling without power. The Ministry of Education has identified
551 schools without electricity and is exploring solar power solutions.

 

ALSO READ: Solar power is changing millions of lives; testimonials from the
most remote villages in Rwanda

 

Rwanda aims to achieve 95 percent electricity access in schools by 2029, up
from the current 80.7 percent. The government's education sector strategic
plan (2024-2029) emphasizes ICT integration, targeting an increase in
schools using digital learning from 41.1 percent to 65 percent.

 

Investing in renewable energy

 

A study published in Joule, a monthly journal that publishes research on
renewed energy highlighted that across Sub-Saharan Africa, 32 percent of
primary schools and nearly half of secondary schools lack electricity.
Experts argue that expanding solar power is critical to bridging this gap.

 

Octave Idrissa, Operations Director at Ignite Power Rwanda, stressed the
importance of integrating internet connectivity with solar installations.

 

ALSO READ: Off-grid energy sources key to Rwanda's push for universal power
access

 

"We are deploying solar systems and Starlink internet in government-aided
schools. The government should subsidize the cost for all schools that want
to purchase these systems," he said. So far, Ignite Power has electrified 30
schools, with a target of 241.

 

Rwanda's energy policy aims to enhance solar energy use, with plans to
generate 30 megawatts of solar power by 2029-2030 and an additional 20
megawatts by 2034-35. Currently, Rwanda's total electricity generation
capacity stands at 556 MW, with hydropower (50%), methane gas (30%), peat
(14%), and solar energy (4%).

 

Innocent Hakizimana, an electrical engineer, emphasised the need for
long-storage solar systems in remote schools, particularly in the Western
and Northern regions.

 

As Rwanda advances its renewable energy strategy, expanding solar power in
schools is set to play a crucial role in bridging educational disparities
and fostering digital literacy across the country.

 

Read the original article on New Times

 

 

 

 

South Africa: Medium-Term Development Plan 2024-2029 Finalised

The Department of Planning, Monitoring and Evaluation has announced that the
Medium-Term Development Plan (MTDP) 2024-2029 has been finalised, providing
a strategic framework to guide South Africa's development priorities over
the next five years.

 

"Announced as the foundation of government's programme of action in the
recent State of the Nation Address, the MTDP 2024-2029 integrates the
Government of National Unity's (GNU) Statement of Intent with the National
Development Plan 2030 (NDP 2030) to drive inclusive growth, improved service
delivery, and better living conditions for all citizens," the department
said.

 

The MTDP 2024-2029 was developed through an extensive participatory process
involving government, experts, and stakeholders to ensure evidence-based
planning and effective implementation.

 

It follows a whole-of-government approach, ensuring that national,
provincial, and local government structures are aligned in their priorities,
budgets, and delivery mechanisms.

 

"The plan is now available for stakeholders and the public to engage with,
as government moves towards implementation and monitoring progress.
Collaboration from all sectors of society is encouraged to ensure the
successful execution of the plan's priorities and targets," the department
said.

 

For more information and to access the MTDP 2024-2029, visit www.dpme.gov.za
or scan the QR code below:

 

-SAnews.gov.za

 

Read the original article on SAnews.gov.za.

 

 

 

 

 

 

Liberia: Power Outage Disrupts Operations At Roberts International Airport

Monrovia — A temporary power outage has caused significant disruption to
operations at Roberts International Airport (RIA) on Sunday evening.

 

The Liberia Airport Authority (LAA) confirmed that the outage, which
occurred around 5:00 PM, was due to an electrical issue originating from the
Liberia Electricity Corporation (LEC) power grid.

 

The disruption led to operational challenges at the airport's terminal,
affecting both passengers and staff. LAA officials have apologized for the
inconvenience caused and assured the public that efforts to restore full
power are underway, with LAA working closely with LEC technicians to resolve
the issue.

 

"The Liberia Airport Authority deeply regrets any inconvenience caused by
this disruption and is fully committed to resolving the situation as swiftly
and safely as possible," the LAA said in a statement.

 

Despite the challenges, the LAA reassured passengers and visitors that all
necessary measures were being taken to restore normal operations quickly and
minimize delays.

 

Read the original article on FrontPageAfrica.

 

 

 

 

 

Global shares slide as Trump tariffs loom

Stock markets have fallen in Asia and Europe after President Donald Trump
suggested that new tariffs he is set to announce this week will hit all
countries, not just those that have the biggest trade imbalances with the
US.

 

Trump made the comments as he prepares to unveil a massive slate of import
taxes on Wednesday, in what he has called America's "Liberation Day".

 

The measures will come on top of tariffs already imposed by Washington on
aluminium, steel and vehicles, along with increased levies on all goods from
China.

 

"You'd start with all countries," Trump told reporters on Air Force One.
"Essentially all of the countries that we're talking about.

 

But he said his administration would be "far more generous" and "kinder"
than the countries had been to the US.

 

With 48 hours to go before the tariffs come into force, the UK is still
locked in talks with the US about an exemption.

 

On Sunday, Downing Street said that Prime Minister Sir Keir Starmer had had
"productive negotiations" with Trump in a phone call, adding that talks
would "continue at pace".

 

On Saturday, government sources had said that the UK would not hesitate to
impose its own tariffs on the US if needed.

 

Other jurisdictions, such as the European Union and Canada, have already
said that they are preparing a range of retaliatory trade measures.

 

Kevin Hassett, director of the National Economic Council, recently told the
Fox Business channel the tariffs would focus on 10 to 15 countries that have
the worst trade deficits with the US, but did not name them.

 

Trump sees trade taxes - which in this case would be paid by the US
companies importing goods - as a way of protecting the American economy from
unfair competition and as a bargaining chip for getting better trading
terms.

 

Concerns about a trade war are unsettling markets and creating fears of a
recession in the US.

 

What are tariffs and why is Trump using them?

Japan's Nikkei 225 benchmark share index closed more than 4% lower on
Monday, while the Kospi in South Korea ended down 3%.

 

In the UK, the FTSE 100 index was down about 0.8% in morning trade, while
Germany's Dax index and France's Cac 40 were both down 1%.

 

The price of gold rose to another record high, hitting $3,128.06 an ounce.
Gold is often seen as a safer investment when the economic backdrop is
unstable and share prices are falling.

 

Over the weekend Trump's advisers echoed his view that the planned tariffs
could raise trillions of dollars and help create jobs in the US.

 

His top trade adviser, Pete Navarro, pointed to huge revenues he said the
tariffs would raise.

 

The tax on all car imports could raise $100bn (£77.3bn) a year, Mr Navarro
said. All the planned tariffs could raise $600bn annually, about a fifth of
the value of total goods imports into the US, he added.

 

A White House fact sheet published last week suggested a 10% tariff on every
import could create nearly three million US jobs.

 

However, there are concerns that tariffs could fuel inflation - something
Trump pledged to reduce during his presidential campaign - if companies
choose to pass on the higher cost of importing goods to their customers.

 

If companies absorb the cost, if could hit profit which in turn could affect
investment.

 

'Counter-productive'

Will Butler-Adams, chief executive of Brompton Bicycle, which makes folding
bikes, said US tariffs were creating uncertainty.

 

While, at the moment, Brompton's products are not facing additional taxes,
he said the people interpreting the tariffs are trying to establish how much
steel in products might have come from outside the US, which might therefore
lead to tariffs.

 

"The reality is we don't [know] actually and the people who are on the
borders importing goods into the US don't actually entirely understand how
some of these tariffs might be put in," Mr Butler-Adams said.

 

Getty Images Will Butler-Adams, chief executive at Brompton Bicycle, in a
black polo shirt leaning on an orange bikeGetty Images

Brompton's Will Butler-Adams says tariffs might deter it from investing in
the US

About 10% of Brompton's sales come from the US, where it has grown from a
staff of four to 40 people and has shops in New York and Washington.

 

But Mr Butler-Adams said tariffs might prove to be "counter-productive".

 

"Ironically, if he puts taxes on, it is going to make our product less
competitive," he said.

 

"We won't continue to invest in the same way that we are now. We may even
shrink, in the extreme we might pull out."

 

TikTok sale

Separately, Trump said a deal with TikTok's Chinese owner ByteDance to sell
the app would be agreed before a deadline on Saturday.

 

He set the 5 April deadline in January for the short video platform to find
a non-Chinese buyer or face a ban in the US on national security grounds.

 

It had been due to take effect that month to comply with a law passed under
the Biden administration.-BBC

 

 

 

 

Primark boss quits after complaint about behaviour

Primark boss Paul Marchant has resigned following an allegation by a woman
about "his behaviour towards her in a social environment".

 

Associated British Foods (ABF), which owns Primark, said following an
investigation by external lawyers, Mr Marchant "acknowledged his error of
judgement and accepts that his actions fell below the standards expected" by
the business.

 

Mr Marchant co-operated with the investigation and apologised to the
individual, said ABF.

 

George Weston, chief executive of ABF, said: "I am immensely disappointed.
Colleagues and others must be treated with respect and dignity. Our culture
has to be, and is, bigger than any one individual."

 

He added: "At ABF, we believe that high standards of integrity are
essential. Acting responsibly is the only way to build and manage a business
over the long term."

 

The company said it remains in contact with the individual "who rightly
raised her concerns and have offered her our support".

 

ABF's share price fell by nearly 4% to £18.64 each after the announcement.

 

Mr Marchant became chief executive of Primark in 2009, taking over from the
firm's founder Arthur Ryan. He previously worked at a number of retailers
including Debenhams, Topman, River Island and New Look.

 

Primark is known for its low-priced clothing and ubiquitous presence on the
High Street.

 

During Mr Marchant's time at the company, Primark has expanded
internationally into Europe and the US, where it plans to continue opening
stores.

 

Primark is a key part of the wider ABF business, contributing nearly half of
the group's overall sales of £20bn.

 

However, in its most recent trading update covering the Christmas period,
Primark reported a fall in sales for the UK and Ireland, which accounts for
45% of the retailer's revenues.

 

Susannah Streeter, head of money and markets at Hargreaves Lansdown, said Mr
Marchant's departure came at a trying time for Primark.

 

''The change at the top will be unsettling particularly given that Primark
delivered a very mixed bag of results at the last count," she said.

 

"This leadership upset comes amid weaker consumer sentiment which has meant
footfall at its stores has fallen - and the chain has been losing market
share in the UK.

 

She said that internationally the company has performed well, but added:
"There could be uncertainty ahead about the speed of expansion given the
change of boss."

 

Following Mr Marchant's "immediate" departure, ABF's finance director Eoin
Tonge will become Primark's interim chief executive.

 

The firm's financial controller, Joana Edwards, will step into Mr Tonge's
role. The company said: "Both executives have the experience to perform
these roles well."-BBC

 

 

 

Starmer and Trump discuss 'productive negotiations' on economic deal

Sir Keir Starmer and Donald Trump have agreed "productive negotiations"
about an economic deal between the UK and US will "continue at pace",
Downing Street has said, ahead of a looming deadline on US tariffs.

 

The Sunday night phone call between the pair comes after sources at No 10
said the government was prepared to retaliate against US trade taxes if
needed.

 

British negotiators are trying to win a last-minute exemption ahead of
Trump's 25% levy on car imports, which is expected to come in on Wednesday.

 

Trump has imposed a series of tariffs targeting goods from other countries
in the first few months of his second term in the White House, with threats
of wider taxes also being imposed.

 

The prime minister has previously said he does not want to jump into a trade
war with the US. But Sir Keir has also said the UK "reserves the right" to
introduce reciprocal tariffs on the US if a deal to exempt the UK cannot be
reached.

 

The government has argued the UK has a relatively equal trading relationship
with the US, compared to its other partners.

 

The independent Office for Budget Responsibility (OBR) has warned a
reciprocal trade war would wipe billions off economic growth and all but
eliminate the headroom Chancellor Rachel Reeves has to stay within her
self-imposed fiscal rules.

 

The OBR's latest economic forecast, published on Wednesday, said GDP would
be 0.6% lower than forecast this year and 1% lower next year in the most
"severe" scenario, in which the UK and other nations retaliated to Trump's
tariffs.

 

This scenario would "almost entirely eliminate" Reeves' £9.9 billion
headroom against her fiscal rules, which could lead her to implement tax
rises or further spending cuts if she wanted to stay within them.

 

In an alternative scenario where the UK does not retaliate, the OBR has
forecast a smaller reduction in growth, with GDP 0.4% lower than expected
this year and 0.6% lower next year.

 

It is unclear how the UK would retaliate if tariffs do come into effect.
There are a range of options available, from duties on sectors where British
products are particularly important to the US, to focusing on specific
products like Harley Davidson motorcycles.

 

UK car exports are worth about £7.6bn per year, and the US is the second
largest market for UK cars after the European Union, according to car
industry body the Society of Motor Manufacturers and Traders (SMMT).

 

Trump's plan is expected a to hit British luxury car makers such as
Rolls-Royce and Aston Martin.

 

The US president argues his measures will help American manufacturers and
protect jobs, despite warnings prices could go up for consumers.

 

Earlier on Sunday, Trump said that he "couldn't care less" if carmakers
raise prices as it meant "people are gonna buy American-made cars".

 

During a meeting between the prime minister and president at the White House
last month, Trump hinted at "a real trade deal", which could see the UK
avoid the kind of tariffs he has been threatening other countries with.

 

Also in their call on Sunday, the two leaders discussed continuing to
pressure Russia over the Ukraine war, Downing Street's spokesperson said.

 

"Discussing Ukraine, the prime minister updated the president on the
productive discussions at the meeting of the Coalition of Willing in Paris
this week," they said.

 

"The leaders agreed on the need to keep up the collective pressure on
Putin."

 

No 10 said Trump began the call by sending King Charles III his best wishes,
after the monarch experienced temporary side effects during cancer treatment
earlier in the week.

 

The two leaders agreed to stay in contact in the coming days, No 10
added.-BBC

 

 

 

 

AI was enemy No. 1 during Hollywood strikes. Now it's in Oscar-winning films

Inside a soundstage once used by silent film stars Charlie Chaplin and Mabel
Normand, Hollywood executives, actors and filmmakers sipped cocktails as
they marvelled at what some say is the biggest breakthrough since the
talkies: AI-generated video.

 

But whether AI will be the future, or the end, of cinema is still up for
debate.

 

It was only two years ago that actors and writers shut down Hollywood with
strikes demanding protections from AI. Now the technology is controversially
creeping into TV, movies and video games. Two films honoured at the Oscars
even used the technology.

 

As a DJ played '90s hip hop, computer developers rubbed shoulders actors and
executives, in a sign of the changing power players in the industry.

 

AI in Hollywood is "inevitable", says Bryn Mooser, the party's host and the
co-founder of Moonvalley, which created the AI generator tool "Marey" by
paying for footage from filmmakers with their consent. Mr Mooser says that
while AI may still be a dirty word, their product is "clean" because it pays
for its content.

 

Courtesy of Joelle Grace Taylor for Asteria People crowd in a dimly lit room
with beer bottles with the name "Moonvalley" lit in neon on a sign hanging
in the background. Courtesy of Joelle Grace Taylor for Asteria

Filmmakers, executives and actors rubbed shoulders at the new AI production
company

AI may be a dirty word in Hollywood, but Mr Mooser says their version of the
technology is "clean."

 

"Artists should be at the table," he says, adding that it's better to build
the tool for filmmakers rather than get "rolled over by big tech companies".

 

Artificial Intelligence has long been depicted as a villain in Hollywood. In
"The Terminator," AI used by the US military decides it must destroy
everyone on Earth.

 

But it's AI's creators, and not the technology itself, that has received the
brunt of real-life criticism. Companies use publicly available data to build
their AI models - which includes copyrighted material shared online - and
creators say they're being ripped off.

 

OpenAI, Google and other tech companies are facing multiple lawsuits from
writers, actors and news organizations, alleging their work was stolen to
train AI without their consent. Studios like Paramount, Disney and Universal
who own the copyright on movies and TV shows have been urged by writers to
do the same, though none have taken legal action.

 

"We've all fought very hard for copyright laws, and nobody wants to see
their work stolen to have somebody else profit from it," Mr Mooser says.

 

Hollywood has begun toying with the new technology. The Oscar-nominated
films Emilia Perez and The Brutalist used AI to alter voices. Adrian Brody
won the Academy Award for best actor, even with the help of AI to fine tune
his accent when he spoke Hungarian in his starring role in The Brutalist. AI
has even been used to de-age actors like Tom Hanks and Harrison Ford.

 

Getty Images Adrien Brody, winner of the Best Actor award for “The
Brutalist”, poses with his gold award in front of a backdrop that includes
the Oscars logoGetty Images

Generative AI was used to fine tune Adrian Brody's accent when he spoke
Hungarian in The Brutalist.

The technology is seemingly everywhere. OpenAI hosted an AI film festival in
Los Angeles earlier this month. Marvel directors Joe and Anthony Russo told
the Wall Street Journal they plan to invest $400 million to craft AI tools
for filmmakers.

 

But the impacts on how it will alter the future of the entertainment
industry remain unclear. Generative AI, for instance, allows computers to
learn and solve problems in ways that can seem human – albeit much faster.
And many worry about the technology replacing their jobs as AI is used to
generate scripts, animation, locations, voices and human actors.

 

If you ask OpenAI's popular chatbot, ChatGPT, which Hollywood jobs are most
easily replaced by AI, background actors are top of the list as "most
vulnerable" with "A-List actors & directors" considered safest because "star
power and brand recognition keep top talent irreplaceable".

 

At the Moonvalley party, everyone was talking about new AI technology though
few wanted to speak with a reporter on record about it. But dozens of
powerful people made the trek east to the hip Silver Lake neighbourhood from
West Los Angeles even though it was raining. In LA, that's remarkable.

 

"We're here to learn," said one executive who spent an hour in traffic
getting to the party. "We're not signing anything or buying anything, but
we're interested."

 

Mooser and his co-founder Naeem Talukdar speak passionately about how AI
will transform Hollywood and allow filmmakers to create blockbuster style
epics on much lower budgets. It could lead to many bad films - but it could
also help discover the next Quentin Tarantino or Martin Scorsese, even if
they don't have the backing of a big studio.

 

"This technology is utterly meaningless without the artist at the centre of
it; the technology needs to ultimately be subservient to the artist," says
Mr Talukdar.

 

Getty Images A scene from the Terminator, where Arnold Schwarzenneger is
dressed in a beige trench coat and points a gunGetty Images

Arnold Schwarzenneger played a murderous AI in the Terminator

Hollywood's foray into using AI comes as the Trump administration prepares a
new AI plan for the United States.

 

Tech companies say they can't compete with China under existing US copyright
laws and that they need unfettered access to art - from Mickey Mouse to
Moana to The Matrix - to train their AI models as a matter of national
security.

 

Google and OpenAI want the US government to designate copyrighted art,
movies and TV shows as "fair use" for them to train AI, arguing that without
the exceptions, they will lose the race for dominance to China.

 

Hollywood filmmakers say tech companies are attempting to undermine the
entertainment industry, which they point out supports more than 2.3 million
US jobs.

 

"We firmly believe that America's global AI leadership must not come at the
expense of our essential creative industries," a group of more than 400
Hollywood A-listers - led by actress/writer Natasha Lyonne who helped
develop Moonvalley - wrote in an open letter to the Trump administration,
which has been soliciting public comment for its AI Action Plan.

 

The letter's signatories included A-List stars like Ben Stiller, Paul
McCartney, Cate Blanchett and Lilly Wachowski, who co-created "The Matrix,"
which depicts a dystopian simulated reality where humans are enslaved by
intelligent machines.

 

Many in Hollywood remain terrified of what AI means for their futures.

 

Outside a Disney Character Voices office earlier this month, dozens of
actors picketed against video game companies for refusing to come to an
agreement on using AI in video games.

 

"Using actual actors is the key to a lot of the drama and enjoyment that
people get from video games," actor DW McCann said. "People have lived
experiences that AI just can't understand."

 

The actors want a contract that guarantees their voices and likeness will
not be used without their consent to train AI models that replace them in
the future.

 

Mr Mooser says AI will allow filmmakers to create amazing art – if it's done
right. With humans calling the shots, he says, AI could help them create
sets and worlds they couldn't easily access or invent – and to do so much
faster than what they could traditionally do with computer graphics and
visual effects.

 

"We're trying to say look, technology is going to be in everything. Let's
make sure that we try to fight as hard as we can to make sure that it's done
in the right way, and that artists aren't run over by big companies."-BBC

 

 

 

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

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INVESTORS DIARY 2025

 


Company

Event

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Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


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