Major International Business Headlines Brief ::: 14 November 2025

[Bulls n Bears]

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Major International Business Headlines Brief :::  14 November  2025 

 


 


 


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ü  South Africa: How South Africa's Job Market Has Changed

ü  South Africa: Mini Budget Postmortem - - Here's What Informed
Godongwana's Thought Process On Policy Positions

ü  Nigeria: Marketers Welcome Suspension of 15% Fuel Import Levy

ü  Kenya Courts U.S. Investment to Boost Growth As AGOA Expires

ü  Somalia: IATA, FlydDubai and Ethiopian Recognise Somaliland
Visa-On-Arrival As U.S. Confirms Somalia E-Visa Breach

ü  Uganda: Baryomunsi Urges Ugandan Universities to Harness Technology for
Innovation, Service Delivery

ü  Uganda: Museveni Urges Inclusive Transformation As He Rallies Voters in
Kibuku

ü  Nigeria: Mixed Reactions As Federal Govt Suspends 15% Fuel Import Tax

ü  Uganda: IMF Set to Review Uganda's Post-Financing Assessment in January
2026

ü  Trump to ease coffee and banana tariffs in Latin America trade deals

ü  Some TSA agents who worked through government shutdown to get $10K
bonuses

ü  Guests ejected mid-stay from bankrupt hotel chain Sonder

ü  Swiss hope to slash crippling Trump tariffs after golden charm offensive

ü  California revoking 17,000 commercial driver's licences given to
immigrants

 


 <mailto:info at bulls.co.zw> 

 


 

 

 

South Africa: How South Africa's Job Market Has Changed

There are 2.6-million more jobs than in 2008, but 10.4-million more people
who need them

 

248,000 new jobs were created in the third quarter (Q3) of the year,
according to the latest employment data released by StatsSA on Tuesday. Our
chart this week shows how employment has changed since 2008.

 

The official unemployment rate at the end of Q3 is 31.9%, down from 33.2% at
the end of the Q2. If people who have stopped looking for work are included
(the expanded definition of unemployment), the unemployment rate is 42.4%,
down from 43.0%.

 

But the increase in jobs is also linked to a new method StatsSA used to
estimate employment in the informal sector, so it should probably be treated
with caution. And taking the first two quarters of the year into account,
the economy has still lost about 24,000 jobs so far this year.

 

 

Sectors with the most growth

 

The construction industry saw the biggest growth in jobs in the third
quarter, with 131,000 new jobs. Total employment in the sector is
1.39-million. That's 31,000 more than at the end of 2024.

The community and social sector gained 116,000 new jobs in the third
quarter, reaching 3.98-million jobs in total and coming out with 29,000 more
jobs than at the end of 2024.

Jobs in the trade sector -- sales and related services -- increased by
109,000 in the third quarter, making up for losses earlier in the year.
There were 3.4-million people employed in the sector by the end of Q3. But
this is only about 3,000 more than at the end of 2024, after big losses
earlier in the year.

 

Long-term trends

 

StatsSA's quarterly labour force data goes back to 2008. At the start of
that year, South Africa had an unemployment rate of 23.2%, with 14.4-million
people employed. At the end of the third quarter of 2025, there were
17-million people with jobs in the country. But because of population
growth, the unemployment rate is still higher than in 2008, at 31.9%. The
working-age population was 31.5-million in 2008 and is now approximately
41.9-million.

 

The number of jobs in the manufacturing industry has decreased significantly
since 2008 - from 2.1-million to 1.6-million.

 

Private household jobs - like domestic workers, gardeners, and other paid
jobs that take place within households - are also down, from 1.2-million in
2008 to 1.1-million in Q3 of this year.

 

But steady increases in employment, above the rate of population growth,
have been seen in the finance, transport and community and social services
sectors. Collectively, these sectors have added 2.7-million jobs since 2008.

 

 

While the number of jobs in other sectors has increased, it has not been
enough to keep up with population growth (the labour force has grown by
about 33% since 2008):

 

Jobs in the trade sector - currently 3.4-million - have grown by only 3%
since 2008, recovering from a Covid-related low of 2.7-million in 2021.

Construction jobs have also largely recovered from a lull in the early 2010s
and a dramatic crash in the wake of the first Covid lockdown in 2020. The
sector currently employs 1.39-million people, compared to 1.18-million in
2008, an increase of 17.7%.

The number of agricultural jobs has stabilised after reaching a low of 626k
in 2011. There are now 920,000 people employed in this sector, only 9% more
than in 2008.

The mining sector currently employs 449,000 people - 96,000 more than in
2008. This means the sector has recovered from past slumps, like when the
number of jobs dropped to 302,000 in 2011 and 345,000 in 2021.

Chart produced by The Outlier in partnership with GroundUp

 

Read the original article on GroundUp.

 

 

 

South Africa: Mini Budget Postmortem - - Here's What Informed Godongwana's
Thought Process On Policy Positions

The Finance Minister who walked into the RMB Think Budget briefing on
Thursday, 13 November, bore a markedly different demeanour to the man who
was forced to take the Budget back to the drawing board twice in May before
it was accepted by the Government of National Unity.

 

The Finance Minister who walked into the RMB Think Budget briefing on
Thursday, 13 November, bore a markedly different demeanour to the man who
was forced to take the Budget back to the drawing board twice in May before
it was accepted by the Government of National Unity.

 

At the age of 68, donning his signature jaunty hat (always with a feather),
Finance Minister Enoch Godongwana carries a quiet strength that should not
be underestimated. Those at the RMB Think Budget breakfast had the
opportunity to hear his thoughts on the process leading up to the
Medium-Term Budget, what informed the measures adopted by National Treasury
and his candid opinion on several other matters.

 

In a loose adaptation of a Karl Marx quote, Godongwana started his address
by noting that "we are making changes, but we do so in circumstances not of
our choosing".

 

"Nobody predicted before the elections that we are likely to have a
coalition government," he said, noting that, as an example, the issues
around the Budget earlier this year "had nothing to do with the substance of
the Budget and everything to do with the disagreement of the parties on
certain policy positions."

 

This time around,...

 

Read the full story on Daily Maverick.

 

 

 

 

Nigeria: Marketers Welcome Suspension of 15% Fuel Import Levy

Marketers and some stakeholders in the downstream sector of the oil and gas
industry yesterday welcomed the suspension of the 15 per cent ad-valorem
import duty on imported Premium Motor Spirit (PMS) and Automotive Gas Oil
(AGO), also known as petrol and diesel.

 

They said the import levy is not feasible until Nigeria attains local
sufficiency in refining.

 

Daily Trust reports that the Nigerian Midstream and Downstream Petroleum
Regulatory Authority (NMDPRA) has announced the suspension of the levy.

 

This was contained in a statement signed by George Ene-Ita, Director of the
Public Affairs Department on Thursday.

 

 

Daily Trust reports that the introduction of the 15% import duty had
generated mixed reactions in the downstream industry.

 

It was seen in one breadth as a measure to protect local refineries while
those opposing it said it could trigger fuel price increase as Nigerians
would bear the burden of the expected increase.

 

However the Authority assured the public that there is adequate supply of
petroleum products across the country, maintaining volumes within the
acceptable national sufficiency threshold during this peak demand period.

 

"The Authority wishes to use this opportunity to advise against any
hoarding, panic buying or non-market reflective escalation of prices of
petroleum products.

 

"It should also be noted that the implementation of the 15% ad-valorem
import duty on imported Premium Motor Spirit and Diesel is no longer in
view," the statement said.

 

 

According to NMDPRA, there is robust domestic availability of petroleum
products--including PMS, AGO, and Liquefied Petroleum Gas (LPG)--sourced
from both local refineries and importation, ensuring timely replenishment of
stocks at depots and retail outlets nationwide.

 

"The Authority will continue to closely monitor the supply situation and
take appropriate regulatory measures to prevent disruption of supply and
distribution of petroleum products across the country, especially during
this peak demand period.

 

"While appreciating the continued efforts of all stakeholders in the
midstream and downstream value chain in ensuring a smooth and uninterrupted
supply and distribution, the public is hereby assured of NMDPRA's commitment
to guarantee energy security," the statement added.

 

'Why FG backtracked'

 

Daily Trust reports that the announcement of the import duty had generated
mixed reactions in the polity.

 

 

Major and independent marketers were divided over the desirability of the
levy. The Major Energies Marketers' Association of Nigeria (MEMAN)
specifically said the 15% import duty would trigger an upward rise in prices
of the products.

 

Executive Secretary of MEMAN, Mr. Clement Isong stated that the tariff would
have significant impact on pump prices of PMS as well as diesel prices which
may sell for about N1,100 and N1,200 per litre respectively while imposing
fresh hardship on Nigerians.

 

The duty was initially announced in a letter titled 'Re: introduction of a
market-responsive import tariff framework on Premium Motor Spirit (PMS) &
Diesel,' and signed by Damilotun Aderemi, the Private Secretary to the
President.

 

The president's approval followed a request by FIRS Chairman, Zacch Adedeji
for the government to apply the tariff to align import costs with domestic
realities.

 

Adedeji said the duty, applied to the Cost, Insurance, and Freight (CIF)
value, is expected to increase petrol prices by approximately N99.72 per
litre.

 

"The core objective of this initiative is to operationalise crude
transactions in local currency, strengthen local refining capacity, and
ensure a stable, affordable supply of petroleum products across Nigeria
aligning with Your Excellency's Renewed Hope Agenda for security and fiscal
sustainability," the FIRS said.

 

But MEMAN insisted that the 15 per cent tariff is way too high as it is
tantamount to placing a ban on fuel import which is not good for energy
security.

 

Isong confirmed that based on the current market trend and today's landed
costs, a 15 % tariff would add N122.46 to PMS (N827.24 to N949.70), pushing
pump prices to about N998/L in Lagos and N1,028/L in many upcountry markets;
diesel would rise to roughly N1,164-N1,194/L depending on margins.

 

But the marketers' comment negated that of the Dangote Refinery, the largest
single train refinery in Nigeria which has boasted of its ability to meet
the daily consumption by Nigerians.

 

The facility had said it now delivers 45m litres of premium motor spirit
(PMS) otherwise known as petroleum.

 

Similarly it said the facility also delivers 25 million litres of diesel on
a daily basis while reaffirming its commitment to ensuring a steady and
uninterrupted supply of the products nationwide.

 

However, despite assurances from Dangote which also welcomed the measure
aimed at discouraging importation and protecting local refineries, the
opposition to the import duty continued until yesterday when the proposal
was suspended.

 

A major marketer and CEO of 11PLC, Otunba Adetunji Oyebanji who spoke with
our correspondent said, "Personally I believe that there was a lot of push
back from a lot of quarters, just as there were many in support.

 

"As we heard from the international contributors at the recent MEMAN
webinar, while not unheard of, value added tax on fuel is usually about 2%.

 

"Government in originally proposing such a move must have been thinking
about the revenue potential. However, it came across as being a tool to
protect local refineries, and to some people, a particular refinery."

 

He stated that the U-turn must have been informed by the fact that there is
inadequate consultation within and outside government as well as the
political implications of likely higher pump prices.

 

He stated that the implication of this is that importation will continue
until enough product is available through the local refineries.

 

"This development will ensure supply is adequate and that prices are
moderated since no single entity will have monopoly of supply," he said.

 

Speaking with Daily Trust, a renowned professor of petroleum economics,
Prof. Wumi Iledare, said the reversal is typical Nigerian politics.

 

"Babangida did the same during the SAP (Structural Adjustment Programme) era
-- sidelining intellectual advice and elevating political expediency above
sound economic reasoning. The pattern continues today."

 

He stressed that politicians are often averse to intellectual input when it
challenges short-term political interests and unfortunately, politics
continues to trump economics, and the nation pays the long-term price.

 

"Economics and evidence must guide policy; politics should only enable
implementation. Until then, we will keep circling around the same structural
problems."

 

He added that the 15% import duty should have been viewed as a fiscal and
market-stabilising instrument, not a political gesture.

 

"The intent is clear -- to protect emerging local refineries, encourage
domestic value addition, and gradually align Nigeria's downstream market
with its growing industrial capacity. In economic terms, this policy aimed
to reduce import dependence, conserve foreign exchange, and support refinery
viability. Domestic producers like Dangote Refinery and the rehabilitated
NNPC plants need a short breathing space to stabilise operations and recover
heavy capital investments. Many countries have used such temporary tariffs
to nurture new industries."

 

He stated that if governance fails, the duty becomes a protection for
inefficiency; if it works, it becomes a bridge to competitiveness.

 

"The difference lies in transparency, sequencing, and accountability," he
added.

 

"Of course, prices may rise slightly in the short term -- but that's part of
the transition toward long-term efficiency where Nigeria meets its own fuel
needs competitively. Let's keep things in perspective: petrol here sells
around N890-N965 per litre, while in Benin N1,800-N1,875, Togo N1,835, Ghana
N1,550-N1,995, and Senegal N2,538. Nigeria still remains the lowest-priced
market in the sub-region. The task now is ensuring border vigilance and
market discipline to prevent arbitrage."

 

What suspension means - Paul Alaje

 

Foremost economist, Dr. Paul Alaje in a chat with our correspondent said it
was clear the government did not do its findings before imposing the tariff.

 

He stated that he welcomed the import duty initially on the ground that
Nigeria has local sufficiency in fuel production.

 

"But NNPCL has said that we don't have full sufficiency. So we need to
reconcile whether we have it or not. If we have it, and we are still
importing, I mean, we are introducing the ban, we are simply telling people,
buy local, we have sufficiency. But if we don't have it, that means we want
to put pressure on local consumption."

 

With the suspension of the duty, he said, "My thoughts would be that maybe
the government has realized that we don't have sufficiency yet. Because if
they introduce it, it's more money in terms of revenue for the government,
however, if that burden will be transferred to a final consumer, then it
will be a lopsided policy.

 

"So the government should support local producers to get to sufficiency,
like we have sufficiency in cement. But to haste into introducing taxes when
we don't yet have sufficiency, then it's to take us back to Egypt.

 

"To that extent, what determines whether it's a good decision or bad
decision is our level of sufficiency in production. And we are not sure.
Dangote Refinery says they have reached sufficiency. NNPCL says we don't
have enough."

 

He stated that the government should always conduct evidence-based research
before introducing any policy.

 

"In the last 20 weeks, what is the average import per week? If we have
reached sufficiency, then where are those people selling their import? Where
are they selling their imports? So these are questions. So it goes beyond
just consulting. It has to do with objectivism in research. So if we have
research, if we have conducted thorough research, we would be able to tell
whether or not we have reached sufficiency or not."

 

Duty would have caused trade war - Expert

 

Economic expert, Samuel Caulcrick, stated that the import duty could have
triggered trade wars.

 

He warned that higher import tariffs could lead to increased consumer
prices, reduced innovation, limited product choices and the potential for
retaliatory trade measures from Nigeria's trading partners.

 

Citing a 2019 study on the United States (U.S.) tariffs, which showed that
American households paid an additional $3,300 annually due to tariff-induced
price increases, Caulcrick said Nigeria could face similar inflationary
pressures if it fails to balance protectionism with global competitiveness.

 

He further noted that protecting "infant industries" without a clear path
towards competitiveness could make them complacent and inefficient, trapping
the economy in a cycle of dependence on government protection.

 

He urged the Federal Government to draw lessons from China's industrial
growth model, which he said combined protectionist measures with foreign
investment incentives, export-oriented policies, and technological
development, not tariffs alone.

 

He added: "Tariffs are ultimately paid by domestic consumers and businesses.
They face higher prices for imported goods and even for locally produced
alternatives that no longer have to compete on price.

 

"China's economic rise was not built solely on import restrictions. It
actively attracted foreign direct investment, built strong supply chains,
and created an export-led manufacturing system that guaranteed global
competitiveness."

 

Read the original article on Daily Trust.

 

 

 

 

 

 

Kenya Courts U.S. Investment to Boost Growth As AGOA Expires

Nairobi — Kenya is moving to capitalize on new trade and industrial
opportunities following the expiry of AGOA, with government and business
leaders calling for bold, forward-looking strategies to strengthen the
country's economic position.

 

Speaking at the American Chamber of Commerce in Kenya (AMCHAM) State of
Trade in Kenya Forum, Cabinet Secretary for Investments, Trade and Industry,
Lee Kinyanjui, stressed that Kenya is optimistic of a positive announcement
from Washington before the end of the year but will in the meantime act
decisively to shape a modern trade future with long-term industrial and
regional impact.

 

 

"Kenya remains the gateway to East Africa and the rest of the continent," he
said.

 

"We must seize the opportunity to build smarter, more resilient frameworks.
This includes deepening Special Economic Zones, attracting investment in
sectors like electric vehicles and pharmaceuticals, and using lessons from
the pandemic to diversify supply chains."

 

Kinyanjui noted that lifting the moratorium on power purchase agreements
signals a policy shift that may end power outages and reduce energy costs, a
move set to benefit Kenya's manufacturing base.

 

Angela Ng'ang'a, AMCHAM Kenya Board President, described the current moment
not as a gap, but as an opening.

 

"Global trade is evolving, and so must we. Kenya and the U.S. now have a
chance to shape a reciprocal, investment-driven platform that reflects the
realities of a digital, diversified global economy," she said, urging
stronger U.S. investment in Kenyan textile and agricultural value chains
while reinforcing the private sector's commitment to policy dialogue and
regional trade development.

 

 

Gavin van der Burg, a U.S.-Africa trade deal expert, highlighted the
opportunity for co-creation beyond AGOA.

 

"AGOA was never meant to be permanent. Now is the time to build a model for
the future, one shaped in Nairobi by African talent and American
partnership," he said, pointing to the Kenya-U.S. cotton and apparel supply
chain as a model that could be expanded through contract farming,
yarn-to-fabric infrastructure, and logistics upgrades to boost
competitiveness and generate jobs.

 

Trade data shows strong commercial foundations: U.S. exports to Kenya
totalled Sh135.3 billion in 2024, a 60 percent increase from the previous
year, while Kenyan exports to the U.S. reached Sh129.3 billion, led by
apparel worth $470 million, alongside coffee and cut flowers.

 

The trade balance registered a $34 millionsurplus.

 

Read the original article on Capital FM.

 

 

 

Somalia: IATA, FlydDubai and Ethiopian Recognise Somaliland Visa-On-Arrival
As U.S. Confirms Somalia E-Visa Breach

Hargeisa: Three major aviation bodies and airlines including the
International Air Transport Association (IATA), FlyDubai and Ethiopian
Airlines have updated their travel guidance to confirm that passengers
flying to Somaliland can obtain visas on arrival at Hargeisa Egal
International Airport (HGA) and Berbera Airport (BBO). The moves came as the
United States issued an urgent security alert following a large-scale breach
of Somalia's e-Visa system.

 

IATA was the first to update its global travel information yesterday,
stating that visa-on-arrival is available at Somaliland airports,
distinguishing them from Somalia's illegal visa system. The notice
explicitly lists Hargeisa as a destination where passengers can receive
visas at the airport.

 

 

Shortly afterwards, FlyDubai revised its own travel advisory, confirming
that travellers headed to Somaliland may obtain visas upon arrival at both
Hargeisa and Berbera. The airline's guidance separates Somaliland's entry
procedures from Somalia's e-Visa process and directs passengers accordingly.

 

Later in the day, Ethiopian Airlines issued an updated bulletin, clarifying
that Somalia's e-Visa requirements "do not apply to passengers arriving at
Berbera (BBO) or Hargeisa Egal International (HGA)." The airline stated that
passengers to Somaliland may obtain visas on arrival, reinforcing the
Somaliland's independently administered immigration controls.

 

The wave of updates coincided with a security alert issued by the U.S.
Embassy in Somalia, which confirmed that hackers had penetrated the
Somalia's e-Visa platform. The Embassy said the breach may have exposed
personal information of at least 35,000 applicants, including thousands of
U.S. citizens. Leaked data includes names, passport photos, dates and places
of birth, marital status, email addresses, and home addresses.

 

 

The U.S. government urged American citizens who used Somalia's e-Visa system
to immediately contact their nearest embassy and monitor for suspicious
activity.

 

Analysis: Implications for Somaliland

 

The latest updates from IATA, FlyDubai and Ethiopian Airlines come at a
moment that clearly underlines a long-standing reality: Somaliland runs its
own borders, its own airports and its own visa system -- entirely separate
from Somalia.

 

For years, Somaliland has maintained a reputation for being one of the more
stable and predictable territories in the Horn of Africa. Its immigration
procedures are straightforward, its airports are secure, and its entry visas
are issued directly at Hargeisa and Berbera without relying on Somalia's
systems. The travel guidance issued yesterday by three major aviation actors
openly reflects this arrangement.

 

The contrast with Somalia grew sharper after the United States confirmed a
serious breach in Mogadishu's e-Visa platform, exposing personal details of
tens of thousands of applicants. The incident has raised doubts about the
security of Somalia's digital systems, and it has pushed travellers and
airlines to pay closer attention to Somaliland's more controlled, on-arrival
visa process.

 

What is now happening across airline advisories and international travel
systems is simple: Somaliland is being treated as a separate, well-managed
and reliable destination. Airlines are directing passengers to follow
Somaliland's own rules, not Somalia's. Aviation databases are listing
Hargeisa and Berbera as independent entry points. And travellers are being
guided toward a visa system that is viewed as safer and more stable.

 

Somaliland's aviation and border systems operate on their own terms --
stable, orderly and entirely separate from Somalia. The latest updates from
IATA, FlyDubai and Ethiopian Airlines reflect this reality in full. In
practice, Somaliland is already recognised as an independent, reliable and
secure nation within international travel systems, and airlines are now
adjusting their guidance to match the facts on the ground.

 

2025 Horn Diplomat Media

 

Read the original article on Horn Diplomat.

 

 

 

 

 

Uganda: Baryomunsi Urges Ugandan Universities to Harness Technology for
Innovation, Service Delivery

The Minister for Information and Communications Technology (ICT) and
National Guidance, Dr. Chris Baryomunsi, has called on public and private
universities in Uganda to actively contribute to improving government
service delivery through innovation and technology.

 

Speaking at the 18th graduation ceremony of ISBAT University at Hotel
Africana Baryomunsi emphasized that while Uganda's 68 universities are
teaching computer science and installing computers in libraries, their
research and innovations must influence public policy and translate into
practical solutions that enhance societal well-being.

 

"You cannot say technology is for the Western world. It will find you where
you are even if you hide your head in the sand. I have been to countries
like South Korea where doctors use artificial intelligence to make quick,
accurate, and better diagnoses of ailments like cancer. How do we bring
these technologies into the health sector in Uganda for our health workers
to perform better?" Baryomunsi said.

 

 

The graduation, celebrated under the theme "Transforming Higher Education by
Integrating Emerging Technologies," saw 962 graduands awarded various
academic qualifications. Among them was the Indian High Commissioner to
Uganda, Shri Upender Singh Rawat, who earned a Master's degree in Public
Health. Ambassador Rawat said he intends to leverage his knowledge to
strengthen Uganda-India collaboration in healthcare.

 

Follow us on WhatsApp | LinkedIn for the latest headlines

 

In his keynote address, George William Nyombi Thembo, Executive Director of
the Uganda Communications Commission (UCC), stressed that emerging
technologies--such as artificial intelligence, data analytics, and virtual
reality--are reshaping industries from healthcare to finance, manufacturing,
and the creative arts. He urged universities to actively participate in this
transformation.

 

 

"Traditional lectures, fixed curricula, and standardized assessments no
longer align with the dynamic, personalized, and digital world students
inhabit. Education must evolve from simple knowledge transmission to
knowledge creation and application. Emerging technologies are catalysts for
this revolution," Nyombi said.

 

The Chairman of ISBAT University's Board of Directors, Varghese Mundamattam,
highlighted the importance of multi-sectoral partnerships. "Strong
collaborations with industry, government, and civil society give students
real problems to solve, internships to gain practical skills, and pathways
to research that translate into public benefit," he said.

 

Baryomunsi's call for innovation comes at a crucial time for Uganda's ICT
sector, which contributes approximately 9 percent of GDP, employs 1.3
million people, and grows at around 15 percent annually. However,
significant gaps remain between skills produced by traditional education
systems and the needs of the modern workforce.

 

According to the Uganda Bureau of Statistics, over 700,000 graduates enter
the job market annually, yet unemployment stands at 12.3 percent, with 42.6
percent of youth aged 15-24 unemployed or not in education or training.

 

Baryomunsi urged universities to leverage emerging technologies to enhance
government service delivery, promote digital literacy, and foster
innovation, entrepreneurship, and cybersecurity skills--ensuring Uganda
fully participates in the digital economy.

 

Read the original article on Nile Post.

 

 

 

 

 

 

Uganda: Museveni Urges Inclusive Transformation As He Rallies Voters in
Kibuku

President Museveni has urged Ugandans to consolidate the peace and stability
achieved under the National Resistance Movement (NRM) by embracing wealth
creation and supporting government programmes that promote inclusive
development.

 

Addressing a campaign rally at Kibuku Primary School in Kibuku Town Council,
Kibuku District, the President said Uganda's transformation relies on the
synergy between government-led infrastructure development and individual
efforts in wealth creation.

 

The NRM presidential candidate reminded the people of Kibuku that the
party's most significant achievement has been restoring and maintaining
peace--an essential foundation for all other progress.

 

 

"The first contribution is peace. We have been able to defeat cattle
rustling and other wars, and that's why there is peace in the whole of
Uganda," he said.

 

President Museveni noted that peace has enabled the government to invest
heavily in economic and social infrastructure, including roads, electricity,
schools, and hospitals, which have brought services closer to communities.

 

He explained that the government's plan is to ensure that every parish has a
primary school and every sub-county has a secondary school so that no child
is left behind. In the health sector, he said efforts are underway to ensure
that no sub-county remains without a government health facility.

 

"Here in Kibuku, our plan is to upgrade Nabiswa, Kituti, and Nakodo Health
Centres from HCII to HCIII," he said.

 

 

"We are also upgrading Dodoi, Kenkebu, Nandere, Kalampete, Nankodo, and Moru
health centres. The district already has one Health Centre IV with doctors,
and thirteen sub-counties have HCIIIs, but we must cover all of them."

 

He emphasized that these investments are intended to complement individual
household efforts, noting that while government can build schools and
hospitals, families must focus on creating their own wealth.

 

"Development is good, but wealth is important because it is individual. You
can have development and people still remain poor."

 

Museveni reiterated the four-acre model--one acre for coffee, one for
fruits, one for pasture, and one for food--as a proven pathway to wealth
creation. He encouraged families to add enterprises such as poultry,
piggery, and fish farming where possible.

 

He further called on Parish Development Model (PDM) leaders to ensure that
all households join the money economy, warning that poverty cannot be
eliminated through handouts but through production and enterprise.

 

"I want you to check how many people in your parish are still working for
the stomach only. I want everyone to join the money economy."

 

The President also highlighted that job creation is driven by wealth and
productivity across families, companies, and factories--not solely by
government employment.

 

"As I speak today, factories have employed 1.3 million people. NRM is
telling Ugandans to wake up--jobs come from wealth."

 

On education, President Museveni reminded the community that free education
in government schools has been in place since 1996, but some head teachers
continue to sabotage it through illegal charges. He said this practice has
hindered many children.

 

To address youth unemployment, he established Presidential Skilling Hubs to
equip young people with practical skills.

 

"School fees are killing the future of many children. One girl told me she
thought of killing herself, but when she joined the skilling hub, she got
hope. In six months, they are producing items we used to import."

 

He noted that the NRM will discuss strengthening free education after the
elections.

 

Read the original article on Nile Post.

 

 

 

 

Nigeria: Mixed Reactions As Federal Govt Suspends 15% Fuel Import Tax

The suspension of the planned implementation of a 15 per cent ad-valorem
import duty on petrol and diesel imports has generated mixed reactions
across the industry and economic stakeholders.

 

The 15 per cent import duty policy, scheduled to come into effect from
November 21, 2025, was initially approved by President Bola Tinubu in
October, aimed at promoting local refining and reducing fuel import
dependence.

 

The Nigerian Midstream and Downstream Petroleum Regulatory Authority
(NMDPRA) officially announced the halt on Thursday, citing a need to respond
to public concerns amid inflationary and currency pressures affecting
households and businesses.

 

 

Recall that the federal government had stated the import duty was designed
as an ad-valorem tariff aimed at protecting emerging local refineries, such
as the Dangote Refinery, which has a capacity of 650,000 barrels per day, as
well as smaller modular refineries. The goal was to encourage investment in
domestic refining capacity, create jobs, foster GDP growth, and strengthen
Nigeria's energy security by reducing imports.

 

In a post on its X handle on Thursday, the NMDPRA said, "It should also be
noted that the implementation of the 15 per cent ad-valorem import duty on
imported Premium Motor Spirit and Diesel is no longer in view."

 

Signed by its director, Public Affairs Department, NMDPRA, George Ene-Ita,
the NMDPRA also assured all that there is an adequate supply of petroleum
products in the country, within the acceptable national sufficiency
threshold, during this peak demand period.

 

 

"While appreciating the continued efforts of all stakeholders in the
midstream and downstream value chain in ensuring a smooth and uninterrupted
supply and distribution, the public is hereby assured of NMDPRA's commitment
to guarantee energy security," the agency stated.

 

Also shedding light on the policy suspension, the director of Legal Services
at NMDPRA, Dr Joseph Tolorunse, explained the government's rationale: "The
government intended to stimulate investment and shield local industries from
being undercut by cheaper imports. While prices may rise in the short term,
the long-term benefits would include job creation, GDP growth, and greater
self-sufficiency."

 

Tolorunse, who spoke during the maiden conference of the Energy
Correspondents Association of Nigeria (ECAN), in Abuja on Thursday, said.
"In the short run, prices may go up, but in the long run, the country would
have benefited through job creation, GDP growth, and greater
self-sufficiency."

 

 

Tolorunse added that while the administration remains committed to its
long-term industrial goals, "it is also sensitive to public outcry,"
prompting a temporary pause in the rollout of the policy.

 

However, the suspension has sparked divergent views among policymakers,
economists, petroleum industry stakeholders, and business groups.

 

Energy analysts and industry players have welcomed the rollback, describing
it as a necessary lifeline for households and businesses already stretched
by inflation and currency pressures. Yet, many warn that the relief could
delay critical structural reforms in Africa's largest oil producer.

 

"This is a very good move. High costs are already burdening Nigerians, so
cancelling it is something we should applaud," said Henry Adigun, an oil
policy expert. "In a country where you don't have local production
sufficiency, imposing a tariff on imports is counterproductive."

 

Adigun said the tariff was "flawed from the beginning," highlighting a
policy disconnect between the government's fiscal drive and the realities of
Nigeria's import-dependent energy market. "Once you get enough local
production, then you can put tariffs to discourage others. The logic was
premature," he added.

 

Also, petroleum marketers and their representative bodies expressed relief
at the suspension, highlighting concerns about competition and consumer
protection.

 

The Petroleum Products Retail Outlets Owners Association of Nigeria
(PETROAN) stated that the tariff threatened to encourage monopolistic
practices, potentially distorting the deregulated downstream market.

 

PETROAN's president, Dr Billy Gillis-Harry, remarked, "We are not against
tariffs per se, but the imposition of this tax would harm business and
investments in the sector. A fair, competitive market that allows
importation to supplement local production is essential."

 

He praised President Tinubu's responsiveness: "Stepping down the policy
shows he has a listening ear and understands economic realities."

 

Dr. Gillis-Harry further explained that Nigeria's downstream market, valued
at about N1.2 trillion (approximately $3 billion), is projected to grow
annually by five per cent between 2025 and 2030. "

 

The subsidy removal ushered in market liberalisation, allowing private
sector participation and ending decades of government price control. We have
consistently cautioned against monopolistic practices, especially with the
rise of mega-refineries and dominant importers," he added.

 

According to him, a diverse playing field with modular refineries, the
Nigerian National Petroleum Corporation (NNPC), Dangote Refinery, and
independent marketers operating freely is crucial for sector health.

 

On its part, the Petroleum Dealers Association of Nigeria (PEDAN), through
its National Secretary Ibrahim Shehu Yahaya, also opposed the imposition,
asserting that the 15 per cent tax contravened the Petroleum Industry Act
(PIA) provisions which promote fair competition and energy security. Yahaya
stressed the need for operational fairness to encourage private investment
in refining.

 

Conversely, the Ogun State Chamber of Commerce, Industry, Mines and
Agriculture (OGUNCCIMA) criticised the suspension sharply.

 

OGUNCCIMA President Lion Niyi Oshiyemi described the rollback as a "setback
to Nigeria's economic reform drive and a missed opportunity to shield our
local refineries."

 

He emphasised, "The decision to suspend the 15 per cent import tariff is
deeply disappointing. This policy was a step in the right direction to
foster local refining, reduce import dependency, conserve foreign exchange,
and ensure a level playing field for domestic producers."

 

Oshiyemi warned that the reversal "sends a wrong signal to investors,
undermining confidence in Nigeria's energy sector."

 

He highlighted the Dangote Refinery's capacity to meet domestic fuel needs
and export to other African countries.

 

"Supporting such investments with protective policies like the import duty
is not just economic prudence; it is a matter of national interest."
Oshiyemi urged the federal government to reconsider the suspension,
emphasising that "sustainable industrial growth requires consistent policy
direction. Frequent reversals deter private sector participation and impede
long-term development."

 

While acknowledging government concerns about short-term price impacts, he
insisted that "the long-term benefits--including job creation, foreign
exchange savings, and energy security--far outweigh temporary
inconveniences."

 

Economic analyst and policy advocate Dr Muda Yusuf of the Centre for the
Promotion of Private Enterprise (CPPE) also expressed disappointment over
the suspension. He maintained, "The 15 per cent import duty on refined
petroleum products was a positive, forward-looking policy step that could
catalyse industrial expansion, conserve forex reserves, create jobs, and
promote economic resilience if accompanied by broader industrial support
measures."

 

Yusuf elaborated, "Nigeria's path to sustainable industrialisation must be
grounded in strategic, time-bound protectionism--not unrestrained
liberalisation. No country has industrialised by exposing its industries
indiscriminately to imports."

 

He described the continuous importation of petroleum products as imposing
"immense costs on the economy, such as pressures on forex reserves, fiscal
instability, and the collapse of domestic refining."

 

Yusuf argued, "A modest 15 per cent protection would provide the policy
support needed for domestic refineries, including Dangote, NNPCL, and
emerging modular plants, to thrive and reduce forex vulnerability."

 

He added, "Protectionism, when pragmatic and disciplined, empowers domestic
industries to compete globally. The goal is not to shut out the world but to
build Nigeria's strength to engage it confidently."

 

He questioned the government's decision, expressing concerns about how best
local refining companies would be shielded henceforth.Seeking comments, the
Crude Oil Refiners Association of Nigeria (CORAN) indicated ongoing
consultations and promised to issue a formal position on the tariff
suspension soon.

 

When contacted the secretariat of the Crude Oil Refiners Association of
Nigeria (CORAN) told our correspondent that the Association is making
consultations and would come up with a position on the announcement.

 

LEADERSHIP reports that in a statement posted on its X handle on Thursday,
the director, Public Affairs Department, NMDPRA, George Ene-Ita, said, "It
should also be noted that the implementation of the 15 per cent ad-valorem
import duty on imported Premium Motor Spirit and Diesel is no longer in
view."

 

Recall that President Bola Tinubu approved the introduction of a 15 per cent
ad-valorem import duty on petrol and diesel imports into Nigeria.

 

The NMDPRA also assured all that there is an adequate supply of petroleum
products in the country, within the acceptable national sufficiency
threshold, during this peak demand period.

 

"While appreciating the continued efforts of all stakeholders in the
midstream and downstream value chain in ensuring a smooth and uninterrupted
supply and distribution, the public is hereby assured of NMDPRA's commitment
to guarantee energy security," the statement read.

 

Read the original article on Leadership.

 

 

 

 

Uganda: IMF Set to Review Uganda's Post-Financing Assessment in January 2026

The International Monetary Fund (IMF) has announced that its Executive Board
is expected to consider Uganda's Post-Financing Assessment (PFA) in January
2026.

 

The assessment comes as the Ugandan government engages with the IMF for new
financial support following the expiration of its billion-dollar Extended
Credit Facility in June 2024.

 

A PFA is conducted for countries with outstanding IMF credit above certain
thresholds that do not currently have an IMF-supported or staff-monitored
program. It evaluates a country's policies, the consistency of its
macroeconomic framework with medium-term sustainability, and its capacity to
repay the Fund.

 

 

In a statement issued in Washington, D.C., the IMF said a staff team led by
Jesmin Rahman visited Kampala from November 3 to 7 to conduct Uganda's
assessment. "The staff team assessed Uganda's capacity to repay the IMF as
adequate under a combination of external and domestic shocks," the statement
read.

 

During the five-day mission, the IMF noted that Uganda's economic growth
remained broad-based, reaching 6.3 percent in fiscal year 2024/25. Inflation
remained stable and below the Bank of Uganda's medium-term target of 5
percent, while gross international reserves strengthened, supported by
higher exports, capital inflows, and increased foreign exchange purchases by
the central bank.

 

However, the Fund highlighted a significant deterioration in Uganda's fiscal
position in FY2024/25, driven by higher current spending, including one-off
items.

 

 

Looking ahead, the IMF projects favorable macroeconomic conditions in the
near term, with further improvement expected once oil production begins in
FY2026/27. The Fund cautioned, however, that the outlook remains exposed to
risks such as global trade and financial uncertainties, as well as potential
fiscal policy slippages.

 

If approved in January 2026, the PFA will pave the way for new IMF lines of
financial assistance, offering critical support for Uganda's development
programs and continued economic stability.

 

Read the original article on Nile Post.

 

 

 

 

 

 

Trump to ease coffee and banana tariffs in Latin America trade deals

A customer shops at a Costco store in Teterboro, New Jersey, US. The Trump
administration on Thursday announced frameworks for trade deals with four
Latin American countries, which senior officials said will include tariff
relief on coffee and bananas.

The Trump administration on Thursday said import taxes on coffee and bananas
will be lowered as part of trade deals with four Latin American countries.

 

The agreements with Argentina, Guatemala, El Salvador and Ecuador come as US
President Donald Trump faces scrutiny over his handling of the economy and
concerns about affordability.

 

As part of an initial framework, a reciprocal tariff of 10% will stay on
goods from Guatemala, Argentina and El Salvador, as will a 15% tax on
imports from Ecuador into the US. But the deals will exempt products that
cannot be produced in the US "in sufficient quantities," such as coffee.

 

The US-Argentina deal also addresses beef producers' access to foreign
markets.

 

 

Trump previously downplayed concerns about cost of living, insisting the
outlook had improved during his nine months in office. He said affordability
was a "new word", and a "con job" by Democrats.

 

But he has focused on the issue with some urgency since his Republican
Party's poor performance in last week's off-year elections across a handful
of states.

 

This week, Trump and Treasury Secretary Scott Bessent both vowed to lower
coffee prices, which have jumped about 20% in the US this year. Bessent also
signalled relief on tariffs on bananas and other fruits.

 

Senior administration officials on Thursday singled out coffee, cocoa and
bananas as examples of imports from the four Latin American countries that
are poised to escape tariffs.

 

Guatemala and Ecuador are the biggest exporters of bananas to the US.

 

While the US does import coffee from Central American countries including
Guatemala, Brazil is the top coffee exporter to the US, according to data
from the Agriculture Department, and is not covered by the deal.

 

Severe weather is also contributing to high prices for coffee and cacao,
senior administration officials said. But they added that prices will
hopefully fall to some extent when tariffs ease, if retailers and
wholesalers pass along savings to consumers.

 

Separately, in a joint statement announcing a framework deal with Argentina,
the White House focused on expanding access to beef markets overseas.

 

The two countries "have committed to improved, reciprocal, bilateral market
access conditions for trade in beef", according to the statement.

 

The soaring price of beef has become a political issue for Trump. Last week,
he asked the Justice Department to investigate meat-packing companies over
their possible role in driving up beef prices, after other recent proposals
to lower prices sparked backlash among ranchers.

 

The four agreements with Latin American trading partners are expected to be
signed within the next two weeks, senior administration officials said.

 

The deals stem from Trump's announcement in April of sweeping new tariffs on
dozens of countries. Most were put on hold amid the resulting global
financial panic.

 

Nations considered the "worst offenders" would face higher rates, as payback
for what the Trump administration has called unfair trade policies. New
tariff rates for dozens of countries were subsequently introduced in August,
after delays to allow for trade talks.

 

The Trump administration has in recent weeks reached trade agreements with
the European Union, South Korea, Japan, Cambodia, Thailand and Malaysia.-bbc

 

 

 

 

Some TSA agents who worked through government shutdown to get $10K bonuses

Some Transportation Security Administration (TSA) agents who worked through
the 43-day US government shutdown will get bonus cheques, Homeland Security
Secretary Kristi Noem has announced.

 

Noem said those who "served with exemplary service" would receive a $10,000
(£7,581) bonuses in addition to backpay to help them get back on their feet.
She made the announcement while handing out several of the bonus cheques at
a Houston, Texas, airport.

 

President Donald Trump suggested giving similar pay-outs to air traffic
controllers who didn't call out sick during the shutdown.

 

It is unclear how many agents will receive the bonus and what the exact
parameters will be for distribution.

 

Speaking at the George Bush Intercontinental Airport in Houston, Texas, Noem
was flanked by nearly two dozen agents to whom she handed envelopes and
thanked for their service.

 

Noem said that Transportation Security Officers, many of whom are TSA
agents, will receive bonus cheques for upholding the mission of the
Department of Homeland Security (DHS), as well as "stepping up, taking on
extra shifts" and "for showing up each and every day" to serve Americans as
they commute across the country.

 

The exact requirements for the bonus are unclear but Noem said that DHS
"will continue to evaluate every single employee that helped during the
shutdown" and "look at every individual that did exceptional service".

 

Tens of thousands of individuals, ranging from administrators to front-line
agents at security gates, took on extra shifts to fill in for those who
could not, she added.

 

DHS will pay for the bonuses using carryover funds from fiscal year 2025,
the department said in a statement. Noem also said that government savings
on contracts and other spending requirements helped provide the funds.

 

Air travel in the US faced nationwide disruptions during the shutdown, which
began on 1 October over a funding impasse in the US Congress. The shutdown
officially ended on Wednesday.

 

The Federal Aviation Administration last week limited flights due to
staffing shortages, particularly those involving air traffic controllers,
many of whom called in sick or had taken on other jobs to sustain
themselves.

 

Agents worked without pay and took on extra challenges and extra hours
during the shutdown. Noem said they were "examples to the rest of the
individuals who worked with them and endured those hardships".-bbc

 

 

 

Guests ejected mid-stay from bankrupt hotel chain Sonder

Guests across the world have been told to leave their accommodation
mid-holiday after property rentals firm Sonder suddenly went bankrupt.

 

The collapse came after hotel chain Marriott terminated its leasing
agreement with Sonder, a year after the partnership had been established. It
allowed Sonder rooms to be booked via Marriott's various booking platforms
and app.

 

But Marriott said "Sonder's default" had led it to break up with the
short-term rentals and serviced apartments firm.

 

One customer on Reddit said he couldn't get back in to his room where his
belongings were, while others shared pictures of themselves carting luggage
through the streets, seeking rooms elsewhere.

 

 

Sonder rooms can no longer be booked via the Marriott site and app. Marriott
said it was helping people who booked via its own platforms but was advising
those who booked via a third party to ask for a refund via their credit card
issuer.

 

"Sonder has faced severe financial constraints arising from, among other
things, prolonged challenges in the integration of the company's systems and
booking arrangements with Marriott International," Sonder said in a
statement on its website.

 

Seen as a rival to Airbnb, which offers alternatives to traditional hotels,
Sonder focussed on premium serviced apartments and lodgings.

 

Founded in Montreal, it operates thousands of rooms in over 40 cities, all
of which will now be closing as the firm seeks insolvency proceedings in all
territories it operates in.

 

"We are devastated to reach a point where a liquidation is the only viable
path forward," said Janice Sears, Sonder's interim chief executive.

 

She added its integration with Marriott was "substantially delayed due to
unexpected challenges in aligning our technology frameworks", which she said
resulted in significant costs.

 

She said there was a sharp decline in revenue "arising from Sonder's
participation in Marriott's Bonvoy reservation system".

 

Marriott Bonvoy is a booking and rewards system operated by Marriott.

 

One man said he had received no communication about his cancelled Sonder
reservation, that there was no way to contact the firm online, and said it
was "causing significant worry".

 

'It was a huge mess'

Rob Goodwin found himself abruptly out of work this week as a result of
Sonder's collapse.

 

Mr Goodwin, a front desk manager at the Sonder The Merchant hotel in New
York City's lower Manhattan area, was trying to help a guest extend her stay
on Sunday when he encountered an unexpected error in the booking system.

 

Extension dates were no longer available, even though the hotel was only 80%
full at the time.

 

Shortly after, another guest came downstairs to the front desk and showed
him an email from Marriott instructing the guest to vacate the property by
the following morning, Mr Goodwin said.

 

"Leadership ghosted us for quite a while," Mr Goodwin said. He said he and
his colleagues were in the dark about the situation for several hours.

 

Mr Goodwin spent 16 hours at the Sonder property on both Sunday and Monday,
to help guests figure out alternative lodging options. He said he was only
paid for half of that time.

 

"It was a mess. It was a huge mess," he said, adding that most guests at his
location expressed empathy for him and his colleagues.

 

Mr Goodwin is now unemployed. But he said he is optimistic that he will find
similar work though his relationships with building owners in New York City.

 

He has an 8-year-old daughter to support, and said "it's too expensive to be
dealing with this right now".

 

 

Sonder's properties often have no staff and rely on door codes for guest
entry. Some people have complained that their codes no longer worked and
owners were not immediately available to help them retrieve their
belongings.

 

Many users said the only reason they booked with Sonder was because it
seemed reliably "backed" by the well-known Marriott brand - but now felt
betrayed.

 

One user on X said "Marriott has been useless", and wanted to charge him
hundreds of dollars a night to rebook him at one of its Courtyard brand
hotels.

 

Marriott said on its website that it didn't charge customer cards itself for
Sonder bookings, but would facilitate refunds by coordinating "with the
appropriate parties".

 

Marriott said it has a portfolio of over 9,700 properties with 30 brands in
143 countries, and that its business model includes operating hotels as well
as franchising and licensing hotels, residential properties, timeshares and
lodging properties.

 

The BBC has asked for comment from Marriott International and Sonder
regarding customers' complaints.-bbc

 

 

 

 

Swiss hope to slash crippling Trump tariffs after golden charm offensive

Swiss ministers have had "very positive" talks in Washington, US officials
say, in a bid to cut US President Donald Trump's steep 39% tariffs on Swiss
exports to the US – the highest in Europe.

 

One senior US official said the Swiss were "very aware" of their trade
deficit and were prepared to address it - hopefully leading to a "meaningful
reduction" in tariffs.

 

Swiss economics minister Guy Parmelin, meanwhile, said the two sides had
"clarified almost everything" in the talks.

 

Switzerland been trying to bring down the tariff rate - which has hit the
country hard - for months.

 

 

Swiss industry chiefs came to the Oval Office on 4 November bearing gifts,
including a Rolex gold watch and a specially engraved gold bar from
Swiss-based gold refining company MKS.

 

Initial attempts by Swiss President Karin Keller Sutter to change Trump's
mind fell on deaf ears. However, a private business initiative last week may
have made all the difference. Trump's response to the Swiss president's bid
was that she "was a nice woman, but she did not want to listen".

 

But after last week's private business initiative Trump said a deal was
being worked on to bring the tariffs "a little bit lower
 I haven't set any
number".

 

For Swiss industry, that deal could not come soon enough. Tech exports to
the US are down 14.2% on the third quarter of last year, according to latest
statistics - a dramatic fall since the tariff hike was imposed in August.

 

Some figures in Swiss business, particularly those trading in luxury goods,
gold, or commodities, already had contacts in Trump's circle.

 

In September, Trump appeared at the US Open tennis final in the Rolex VIP
box hosted by the Swiss watch company's chief executive Jean Frédéric
Dufour.

 

MANDEL NGAN/AFP US President Donald Trump (L), alongside Rolex CEO
Jean-Frederic Dufour, waves as he arrives to attend the men's singles final
tennis match between Spain's Carlos Alcaraz and Italy's Jannik Sinner on the
last day of the US Open tennis tournamenMANDEL NGAN/AFP

Jean Frédéric Dufour and Trump stood together in the Rolex VIP box in New
York in September

The president, apparently guessing what was going on, even asked if Dufour
would have been there if Trump had not slapped such steep tariffs on
Switzerland.

 

Last week Dufour met Trump again, this time in the Oval Office, along with
fellow business leaders including Johann Rupert from luxury goods maker
Richemont and Marwan Shakarchi from MKS.

 

It is quite normal nowadays for any leader heading to the Oval Office to
come bearing a gift.

 

UK Prime Minister Sir Keir Starmer brought an invitation from King Charles
for a lavish state visit. German Chancellor Friedrich Merz offered a framed
copy of Trump's German grandfather's birth certificate.

 

Requests for confirmation of the gifts to the two Swiss companies involved
brought a "no comment" from Rolex and MKS.

 

But days after the meeting, Trump was pictured in the Oval Office with what
looked very much like a Rolex "Datejust" desk clock, produced by the company
as a collector's item, and worth tens of thousands of dollars.

 

BRENDAN SMIALOWSKI/AFP US President Donald Trump shakes hands with US
Senator James Risch, Republican from Idaho during a swearing-in ceremony
BRENDAN SMIALOWSKI/AFP

The Rolex desk clock was pictured on Trump's desk on Monday

A White House official confirmed the two items had been given to Trump.

 

The US president receives thousands of gifts every year and they then become
US property, deposited with the National Archives and filed annually by the
state department.

 

They are eventually transferred to a presidential library. Some gifts can be
kept but presidents have to pay federal taxes if they do not come from a
close relative.

 

In 1969, President Richard Nixon gently refused the gift of a Swiss Omega
watch to commemorate the Moon landings.

 

Whatever happens to the Swiss gifts, Trump's stance towards the Swiss
appears to be softening, telling reporters he is working on something "to
help Switzerland".

 

 

 

Swiss economy minister Guy Parmelin and chief trade negotiator Helene
Budliger Artieda, who travelled to Washington on Wednesday, are more hopeful
than they have been in months, amid suggestions that 39% tariff may be
reduced to 15% - the same as Switzerland's neighbours in the EU.

 

In return, promises from the Swiss pharmaceutical giants to build more
production plants in the US are already on the table. It is also reported
that Swiss International Airlines, whose fleet is primarily Airbus, may
pivot towards Boeing.

 

But will it be enough? Swiss industry is waiting with bated breath. A number
of Swiss companies have warned they will have to furlough staff if nothing
changes.

 

The Swiss do have one more highly influential figure they can call on.

 

Fifa president and Swiss citizen Gianni Infantino, long a friend of Trump's,
was reportedly urged by some Swiss parliamentarians to try to change the
president's mind.

 

As part of preparations for next year's World Cup in the US, Canada and
Mexico, Infantino visited the Oval Office in August bearing the trophy.

 

As the cameras rolled, he handed it to Trump saying he was "a winner". The
president responded asking "can I keep it? That's a beautiful piece of
gold".

 

Infantino has also announced a brand new Fifa world peace prize, to be
announced in Washington DC on 5 December.

 

All bets are off as to who that might be.-bbc

 

 

 

California revoking 17,000 commercial driver's licences given to immigrants

California is revoking 17,000 commercial driver's licences after an audit
found they were given to thousands of immigrants who are no longer legally
allowed in the US.

 

The Department of Transportation said California officials confirmed they
"illegally issued" those licences "to dangerous foreign drivers", and the
holders were notified their licences will expire in 60 days.

 

In August a truck driver who was not in the US legally killed three people
in Florida, spurring the Trump administration to increase its efforts to
keep undocumented immigrants out of commercial trucking and bus driving.

 

California Governor Gavin Newsom largely brushed off the administration's
announcement as political.

 

 

The administration has been critical of California and other states who have
given licences to people who are in the country illegally.

 

"This is just the tip of the iceberg," Transportation Secretary Sean Duffy
said. "My team will continue to force California to prove they have removed
every illegal immigrant from behind the wheel of semi-trucks and school
buses."

 

Newsom's office has said the drivers whose licences are being revoked had
valid work authorisations from the federal government.

 

The licences had incorrect expiration dates and violated a California law
that they must expire on or before a person's legal status in the US ends,
according to media reports.

 

"Once again, the Sean 'Road Rules' Duffy fails to share the truth —
spreading easily disproven falsehoods in a sad and desperate attempt to
please his dear leader," Newsom's spokesman Brandon Richards said, referring
to the secretary's time on the MTV reality show Road Rules.

 

In September, one month after the deadly Florida crash, Duffy announced new
rules to make getting commercial driver's licences difficult for immigrants.
They also require states to verify an applicant's immigration status in a
federal database and limit the licences to be valid for a maximum of one
year.

 

In its notice of the new rules, the transportation department estimated 97%
of current "non-domiciled" drivers - 194,000 people - will "exit the freight
market" in the next few years. But, noting that there are 3.8 million
commercial drivers in the country, it said it believed the rules will have a
limited economic impact.

 

A federal appeals court this week put the new rules on hold as a lawsuit
brought by a truck driver works its way through the courts.

 

Newsom's office has noted that the rules were not in effect at the time the
17,000 licences were issued.

 

California is the only state where an audit of commercial driver's licences
has been completed. Other state reviews are expected to be released soon,
though they have been delayed by the 43-day government shutdown that ended
on Wednesday.

 

According to logistics and transportation company Fremont Contract Carriers,
more than 130,000 truck drivers live in California, which is home to the two
biggest ports in the country and is also the top agriculture producer. Only
the state of Texas has a higher driver population.-bbc

 

 

 

 

 

 

 

 

 


 


 


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the securities of more established companies. Neither Faith Capital nor any
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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.

 


 

 


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<mailto:bulls at bullszimbabwe.com> bulls at bullszimbabwe.com Tel: +27 79 993
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