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</o:shapelayout></xml><![endif]--></head><body lang=EN-ZW link="#0563C1" vlink="#954F72"><div class=WordSection1><div align=center><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=916 style='width:687.2pt;border-collapse:collapse'><tr><td width=910 colspan=4 valign=top style='width:682.8pt;padding:0cm 5.4pt 0cm 5.4pt'></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:solid #D9D9D9 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='text-indent:33.35pt;line-height:106%'><span lang=EN-US><a href="https://bullszimbabwe.com/"><span lang=EN-ZW style='font-family:"Verdana",sans-serif;color:windowtext;mso-fareast-language:EN-ZW;text-decoration:none'><img border=0 width=246 height=120 id="Picture_x0020_5" src="cid:image001.png@01D8563D.811A06F0"></span></a></span><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p></o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='margin-left:32.1pt;text-indent:7.5pt;line-height:105%'><b><span lang=EN-US style='font-family:"Verdana",sans-serif;color:#002060'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-left:32.1pt;text-indent:7.5pt;line-height:105%'><span lang=EN-US><a href="http://www.bullszimbabwe.com"><b><span style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0;text-decoration:none'>Bullszimbabwe.com </span></b></a></span><b><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0'> </span></b><span lang=EN-US><a href="mailto:info@bulls.co.zw?subject=View%20and%20Comments"><b><span style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0;text-decoration:none'>Views & Comments</span></b></a></span><span class=MsoHyperlink><b><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0;text-decoration:none'> </span></b></span><span lang=EN-US><a href="https://bullszimbabwe.com/category/blogs/bullish-thoughts/"><b><span style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0;text-decoration:none'>Bullish Thoughts</span></b></a></span><span class=MsoHyperlink><b><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0;text-decoration:none'> </span></b></span><span lang=EN-US><a href="http://www.twitter.com/BullsBears2010"><b><span style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0;text-decoration:none'>Twitter</span></b></a></span><span class=MsoHyperlink><b><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0;text-decoration:none'> </span></b></span><span lang=EN-US><a href="https://www.facebook.com/BullsBearsZimbabwe"><b><span style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0;text-decoration:none'>Facebook</span></b></a></span><span class=MsoHyperlink><b><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0;text-decoration:none'> </span></b></span><span lang=EN-US><a href="http://www.linkedin.com/pub/bulls-n-bears-zimbabwe/57/577/72"><b><span style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0;text-decoration:none'>LinkedIn</span></b></a></span><span class=MsoHyperlink><b><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0;text-decoration:none'> </span></b></span><span lang=EN-US><a href="https://chat.whatsapp.com/CF6wllAfScU9Wr6dXxoQnO"><b><span style='color:#70AD47;mso-fareast-language:EN-ZW;text-decoration:none'>WhatsApp</span></b></a></span><span class=MsoHyperlink><b><span lang=EN-US style='color:#70AD47;mso-fareast-language:EN-ZW;text-decoration:none'> </span></b></span><span lang=EN-US><a href="mailto:info@bulls.co.zw?subject=Unsubscribe"><b><span style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0;text-decoration:none'>Unsubscribe</span></b></a></span><span class=style30><span lang=EN-US style='font-size:8.0pt;line-height:105%;color:#00B050'><o:p></o:p></span></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> </span><span lang=EN-US><o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoSubtitle style='margin-left:32.1pt;text-indent:7.5pt;line-height:105%'><span class=style30><b><span lang=EN-US style='color:black'><o:p> </o:p></span></b></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> </span><span lang=EN-US><o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='margin-left:32.1pt;text-indent:7.5pt;line-height:105%'><span class=style30><b><span lang=EN-US style='font-family:"Verdana",sans-serif;color:#1F497D'>Major International Business Headlines Brief::: 22 April 2022 </span></b></span><b><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p></o:p></span></b></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='line-height:105%'><span class=style30><b><span lang=EN-US><o:p> </o:p></span></b></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> </span><span lang=EN-US><o:p></o:p></span></p></td></tr><tr style='height:3.0pt'><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;padding:0cm 5.4pt 0cm 5.4pt;height:3.0pt'><p class=MsoNormal style='text-indent:33.35pt;line-height:105%'><span lang=EN-US><a href="https://www.nedbank.co.zw/"><span lang=EN-ZW style='font-family:"Verdana",sans-serif;color:windowtext;mso-fareast-language:EN-ZW;text-decoration:none'><img border=0 width=808 height=269 id="Picture_x0020_4" src="cid:image002.png@01D8563D.811A06F0"></span></a><span class=style30><b><o:p></o:p></b></span></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.0pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> </span><span lang=EN-US><o:p></o:p></span></p></td></tr><tr style='height:10.05pt'><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:10.05pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:10.05pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr style='height:10.05pt'><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;padding:0cm 5.4pt 0cm 5.4pt;height:10.05pt'><p class=MsoListParagraphCxSpFirst style='mso-margin-top-alt:auto;margin-left:54.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level1 lfo1;background:white'><![if !supportLists]><span style='font-family:Wingdings;color:#222222;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Country needs $7bn a month in aid, Zelensky says<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:54.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level1 lfo1;background:white'><![if !supportLists]><span style='font-family:Wingdings;color:#222222;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Whisky and visas could be part of a UK-India trade deal<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:54.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level1 lfo1;background:white'><![if !supportLists]><span style='font-family:Wingdings;color:#222222;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Have we reached peak Netflix?<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:54.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level1 lfo1;background:white'><![if !supportLists]><span style='font-family:Wingdings;color:#222222;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>CNN streaming service to shut a month after launch<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:54.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level1 lfo1;background:white'><![if !supportLists]><span style='font-family:Wingdings;color:#222222;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Florida lawmakers have stripped Disney of special tax status<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:54.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level1 lfo1;background:white'><![if !supportLists]><span style='font-family:Wingdings;color:#222222;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Work from home to beat Putin, says EU<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:54.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level1 lfo1;background:white'><![if !supportLists]><span style='font-family:Wingdings;color:#222222;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>KitKat maker Nestle warns of further price rises<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:54.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level1 lfo1;background:white'><![if !supportLists]><span style='font-family:Wingdings;color:#222222;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>$50bn wiped off Netflix’s value as subscribers quit<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:54.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level1 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style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Namibia: FAO Is Boosting Namibia's Locust Surveillance and Monitoring to Avert a Possible Disaster<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:54.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level1 lfo1;background:white'><![if !supportLists]><span style='font-family:Wingdings;color:#222222;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Nigeria: Why Nigeria's Not Deploying Adequate Technology to Tackle Insecurity - NSA<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:54.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level1 lfo1;background:white'><![if 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class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:54.0pt;mso-add-space:auto;line-height:115%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:54.0pt;mso-add-space:auto;line-height:115%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpLast style='mso-margin-top-alt:auto;margin-left:54.0pt;mso-add-space:auto;line-height:115%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:auto;margin-left:36.0pt;line-height:115%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpFirst style='mso-margin-top-alt:auto;margin-left:54.0pt;mso-add-space:auto;line-height:115%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:54.0pt;mso-add-space:auto;line-height:115%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:54.0pt;mso-add-space:auto;line-height:115%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:54.0pt;mso-add-space:auto;line-height:115%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:54.0pt;mso-add-space:auto;line-height:115%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:54.0pt;mso-add-space:auto;line-height:115%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpLast style='mso-margin-top-alt:auto;margin-left:54.0pt;mso-add-space:auto;line-height:115%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:auto;line-height:115%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:10.05pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:10.05pt'><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;padding:0cm 5.4pt 0cm 5.4pt;height:10.05pt'><p class=MsoNormal style='mso-margin-top-alt:auto;margin-left:36.0pt;line-height:115%;background:white'><span lang=EN-US><a href="mailto:info@bulls.co.zw"><span lang=EN-ZW style='color:windowtext;mso-fareast-language:EN-ZW;text-decoration:none'><img border=0 width=804 height=268 id="Picture_x0020_3" src="cid:image003.jpg@01D8563D.811A06F0"></span></a></span><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p></o:p></span></b></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:10.05pt'><p class=MsoNormal align=center style='text-align:center;line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:10.05pt'><td width=910 colspan=4 rowspan=3 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;padding:0cm 5.4pt 0cm 5.4pt;height:10.05pt'><p class=MsoListParagraphCxSpFirst style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Country needs $7bn a month in aid, Zelensky says<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Ukraine's president has told the world's finance ministers his country needs $7bn (£5.4bn) every month until the summer to keep functioning.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Volodymyr Zelensky also said "we will need hundreds of billions of dollars to rebuild all this later".<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He was addressing an International Monetary Fund (IMF) and World Bank conference via video link from Kyiv.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The World Bank has estimated that about $60bn of physical damage has so far been inflicted on Ukraine.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Mr Zelensky also said the global community needed to exclude Russia immediately from international financial institutions, including the World Bank, IMF and others.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>All countries "must immediately be prepared to break up all relations with Russia," he added.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Asked whether the IMF would be able to secure the immediate funding that Ukraine needs, the organisation's managing director Kristalina Georgieva told BBC economics editor Faisal Islam: "We found it for the first and second month.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"We believe that over time this amount is going to go down as the Ukrainian economy in the parts of the country that are not under occupation picks up, and as remittances from those who now work somewhere else start flowing."<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Meanwhile, US Treasury Secretary Janet Yellen said Russia should be made to pay some of the cost of rebuilding Ukraine after the war.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It came as some nations have called for seized Russian assets to be used to fund the country's reconstruction.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>However, Ms Yellen cautioned that using seized Russian central bank reserves in the US to rebuild Ukraine would be a "significant step" that would need discussions and agreement with international partners.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Ukrainian Prime Minister Denys Shmyhal, who attended the conference in person, said the country's economic output could decline by as much as 50%, with direct and indirect losses so far totalling $560bn.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>That figure is more than three times the size of Ukraine's gross domestic product (GDP), which stood at $155.5bn in 2020, according to the World Bank.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"If we do not stop this war together, the losses will increase dramatically," Mr Shmyhal said, adding that Ukraine would need a reconstruction programme similar to the post-World War Two Marshall Plan that helped to rebuild Europe.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>World Bank President David Malpass, meanwhile, said the damage to Ukraine's buildings and infrastructure from Russia's invasion had reached around $60bn and warned that the figure will rise further as the war continues.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Mr Malpass said the early estimate of "narrow" damage costs does not include the growing economic impact on Ukraine.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Also on Thursday, the US imposed further sanctions on Russian ships, while the UK targeted luxury goods including caviar, silver and diamonds with import bans and higher tariffs.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But the Biden administration backed Germany's caution on the European Union proceeding too fast with further sanctions on Russian energy, saying it could cost Europe more than Russia.-BBC<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Whisky and visas could be part of a UK-India trade deal<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Prime Minister Boris Johnson says he wants a free trade deal with India by the end of this year. But as he prepares to meet his Indian counterpart Narendra Modi, it's too soon to toast the prospects of a deal that may well prove hard to agree.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>No other nation drinks as much whisky as India - which should have Scotland's world-famous industry celebrating. But each bottle of Scotch sold in India comes with a hefty price tag attached, thanks to tariffs of 150% on imported liquor. So currently the majority of whisky drunk in India is made within its borders. Scotch whisky accounts for just 2% of the market.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Do away with those tariffs, the Scotch Whisky Association says, and exports could rise by £1bn over five years.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It's not just whisky: India typically applies very high trade barriers - be it tariffs, quotas or restrictions on investment - to attempts to access its markets. Foreign cars attract tariffs of up to 100% for example. As a result the UK currently sells less to India, with its vast population, than it does to Belgium.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But that could be about to change. At the start of this year, the UK and India began talks with the aim of securing a trade deal by the end of 2022. The third round (with many more likely to come) starts next week.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The UK Trade Secretary Anne-Marie Trevelyan says such a deal would be a "golden opportunity" perhaps more than doubling total trade between India and the UK by 2035, an increase of around £28bn.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Australia and the UAE have recently struck deals with India, so hopes are riding high.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>PM announces India deals as party debate continues<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>How India and US agreed to differ on Ukraine war<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Can India feed the world during Ukraine war?<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>When it comes to these discussions, though, both India and the UK have wishlists - and they could prove to be big hurdles to reaching the finish line.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Britain would like more access to India's manufacturing and services sector, areas in which India has traditionally resisted foreign involvement. But trade economists suggest India may be reluctant to do away with the protection that trade barriers have provided for domestic industries and workers. Mr Modi may think of the workers distilling whisky within India's own borders and hesitate to tear down those tariffs.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>If India does go ahead and lower those barriers, there'd have to be concessions in return. The UK might face pressure to allow Indian products, such as medicines into its market. And there may be calls to grant more visas to Indian workers.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Under the new post-Brexit points-based immigration regime, over 60,000 Indians received skilled-worker visas last year, around two-fifths of the total. Amitendu Palit from the National University of Singapore, who was previously at India's Ministry of Finance thinks the UK will need to go further, allowing more Indian professionals into the UK for longer periods of time.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Boris Johnson has himself been highlighting the role that issuing visas could play in filling UK skills shortages, suggesting he may be paving the way for expanding eligibility - but it is not clear how that will be received by voters. Immigration has proved a touchy issue, particularly since the 2016 Brexit referendum.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Is it worth the fuss? By the government's own calculations, a trade deal with India would add just 0.2% to the UK's income or GDP - and that's over the course of a decade, and only if there is a substantial reduction in trade barriers.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Given Prime Minister Modi's stance towards Putin's Russia in recent weeks - India has a stated policy of non-alignment over Ukraine - some are querying whether a trade deal is desirable at all.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But for the UK, the attraction is the future potential. By 2050 India may be the third largest global economy, with a booming middle class with vast disposable income to splash. Getting a larger slice of that could be a substantial post-Brexit win, particularly since a free trade deal with the US has remained elusive.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The first phase of trade talks are often the easy part. The trickiest stuff is left until the end. So it may be a while before the true scale of the challenge is clear.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Economists say an interim deal could be reached by the end of the year - if both sides are willing to make concessions. But a full deal by Christmas looks ambitious.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Perhaps in acknowledgement of the complexities, the Scotch Whisky Association has urged an "early harvest deal" calling for whisky tariffs to be dropped ahead of a full deal. It could be tempting to secure a few positive headlines and some good cheer, while negotiators continue to thrash out the fine print of trickier areas behind the scenes.-BBC<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Have we reached peak Netflix?<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Trying to watch some of Netflix's more recent series all the way through, says Paul Weiner, feels a bit like cramming frankfurters down your throat in a hotdog eating contest.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Readers outside the US may not share the American enthusiasm for competitive hotdog swallowing. But maybe they can relate to the feeling.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>We've all spent the last few years, the last two especially, binge-watching, indiscriminately, too mesmerised to click the off-button.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Are we maybe just a little bit sick of it?<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>That's the fear seizing executives in Netflix's boardroom right now. That Mr Weiner, a 28-year-old artist from Denver, Colorado, who loved the streaming service at first, especially for watching old favourites like Star Trek and The Office, typifies a new mood. That after years of skyrocketing subscriber growth, people will switch off, not just their television sets, but their direct debits too.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Mr Weiner is one of the hundreds of thousands who have already cancelled, prompting a moment of high drama for the company this week as its share price plummeted and confidence in its future wobbled.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>People have begun to ask whether Netflix's star, as the world's largest streaming service, is beginning to fade.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Netflix lost some of my favourite shows," says Mr Weiner. "And I never know which show will disappear next."<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He thinks there's more clickbait than there was - enticing teaser clips that don't live up to expectations - and some poor writing.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"There are better streaming deals than Netflix right now," he says.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Netflix was the first to introduce households to TV-on-tap in 2007, entering popular culture with its avalanche of output, and even spawning the phrase "Netflix and chill" as a euphemism for staying in to have sex. But since then many other streaming services have followed Netflix's lead, including HBO, Disney, Apple and Amazon, making it an increasingly crowded market.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"What made Netflix so popular initially was not necessarily its original programming, but the shows it licensed from other production companies, like Friends, giving viewers one convenient place to watch everything they love," says entertainment journalist Tufayel Ahmed.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"With companies now taking their shows off the service and putting them on their own streaming platforms, Netflix faces the problem of having to fill the gap."<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>They've done that, launching some hugely successful original output, from the lurid regency romp Bridgerton to the brutal Squid Game, high school comedy Sex Education to the touching drama Afterlife. Sixteen million people signed up in three months at the start of 2020 as coronavirus spread the world and discussing the dubious morality of Tiger King or the historical accuracy of The Crown was a way to switch off from the horror show of the news.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But with so many rivals, "all of which are pouring hundreds of millions of dollars into competing with Netflix", says Mr Ahmed, it was almost inevitable the company would eventually lose some ground.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Netflix subscribers<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Mark Mulligan, media analyst at MIDiA Research agrees, pointing to a trend for "savvy switchers" to skip between services.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Everyone had more time and cash during the pandemic which meant the market was artificially buoyant," he says.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But now he thinks: "The economy for people's attention has peaked and the amount of spare time people have has run out".<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>There is also a cost of living crisis to contend with, right around the world. And Netflix, rather than lowering prices has raised them, a move that should help shore up the balance sheet, but has proved unpopular with subscribers, who are themselves feeling the pinch, like 38-year-old Natalie Walters from Catford in South-East London.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>She hasn't cancelled, but she's switched from the premium service, which in the UK costs £15.99 a month, to the standard version at £10.99.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"It becomes about choosing what you keep and what you have to cut down or get rid of altogether," she says.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>And 55-year-old Peter Biggins, a coordinator from Norwich has done the same.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"I've been with them from the beginning. They have some good shows, but they're not the only player in the market now," he says.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>And he's not a fan of the other plan Netflix is reported to be contemplating: cracking down on customers who share passwords with other households.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"If Netflix is going to go after people who have a subscription, they're going to annoy them," Mr Biggins predicts. And it may not have the outcome they're hoping for.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Aram Asai Munoz, a law student in Santiago, Chile, has shared a Netflix account with his parents and sister, who live in separate households, for several years.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Since he first signed up - eager to tune in to crime drama Better Call Saul - the monthly cost of the service has roughly doubled, he says.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Many of his friends have already cancelled over the price hikes and quality of content and he says he might well do the same if the firm does clamp down on password sharing - after all Netflix is a "frivolity" compared to the other bills that need paying, he says.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Netflix somehow expects that by forbidding password sharing people will become direct new customers, but economic reality dictates the opposite: they will simply walk away from the service," he says.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>While unpopular with customers, the new strategy of raising prices and clamping down on password sharing could give the company some headroom, says Julian Aquilina, senior TV analyst at the media research firm Enders Analysis, alongside a plan to offer a cheaper service supported by advertising.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But the impact will be limited. A survey of US Netflix users found only 11% used a shared log in. Some 85% were paid subscribers and the rest were on free trials, Kagan Consumer Insights found.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>That doesn't mean Netflix is about to lose too much ground, though, Mr Aquilina says.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"It is not like it is going to fade away anytime soon. It is a great product, people like using it," he says.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The question is, how many more people it will reach in the future. Maybe it won't be as much as people expected - it seems those expectations are being reset."-BBC<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>CNN streaming service to shut a month after launch<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>CNN's new owner says it will close the US-based news channel's streaming service just a month after it launched.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Warner Bros Discovery (WBD) says it will issue refunds to subscribers after the service is shut down on 30 April.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The head of CNN+ has resigned and hundreds more workers could be at risk of losing their jobs.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>This week, $50bn (£38.4bn) was wiped off the stock market value of streaming giant Netflix after it revealed a sharp fall in subscribers.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>CNN+ was launched on 29 March in an attempt to bring in revenues from news streaming subscriptions.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The company spent as much as $300m on developing the service but it got off to a slow start, attracting just 10,000 viewers a day, according to reports.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Earlier this month, WBD became CNN's parent company with the completion of the merger of media company Discovery and telecom giant AT&T.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Chris Licht, incoming chief executive of CNN, said the business "will be strongest as part of WBD's streaming strategy which envisions news as an important part of a compelling broader offering along with sports, entertainment, and nonfiction content".<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"We have therefore made the decision to cease operations of CNN+," Mr Licht said in a statement.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Discovery's streaming boss JB Perrette said the firm was searching for a "more sustainable business model to drive our future investments in great journalism and storytelling".<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Have we seen peak Netflix?<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>CNN boss resigns over undisclosed relationship<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>As part of the shakeup, Andrew Morse, who helped to drive CNN's streaming strategy, will leave the company.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Hundreds of CNN+ employees have also been given 90 days to secure a job in other parts of the company, CNN reported.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Those who fail to do so will receive a severance package of at least six months pay, it said.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It comes after streaming giant Netflix reported a plunge in subscribers in the first three months of the year.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>On Tuesday, Netflix said the number of households using its streaming service fell by 200,000 as it faced stiff competition from rivals.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The platform also warned shareholders another two million subscribers were likely to leave in the three months to July.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>After the announcement, the company's New York-listed shares slumped by more than a third, wiping $50bn off its stock market valuation.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>-BBC<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Florida lawmakers have stripped Disney of special tax status<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Florida lawmakers have voted to strip Walt Disney of its special self-governing status amid a political clash between the company and the governor.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The status gave Disney powers to levy tax, build roads and control utilities on the lands of its theme park.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The entertainment conglomerate did not respond to a request for comment.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The move is widely seen as retribution for Disney's opposition to a bill that bars primary school classrooms from discussing sexual orientation.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>On Thursday, at the urging of Republican Governor Ron DeSantis, the state House passed a bill that would rid the company of its near-total power over the special district where its theme park is based. It had already passed the Senate.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Known as the Reedy Creek Improvement District, it was created in a 1967 deal between the state and the Walt Disney Company.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Governor DeSantis had previously made it clear he will sign the measure into law. Following the vote, Disney's special district will be dissolved on 1 June, 2023.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Its special status had effectively allowed the company to operate as its own municipal government, with its own board of supervisors and fire department, and meant Disney could even build its own airport, or nuclear power plant if desired.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It had given the entertainment giant freedom from almost all bureaucratic intervention for half a century and is thought to have saved it from tens of millions of dollars in taxes and fees.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>And it is part of why Disney chose to build its theme parks in Florida, where it has become the state's largest private employer, with some 80,000 jobs.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But Disney's special relationship with the state of Florida came under threat over its response to a gender and sexuality education bill signed by Mr DeSantis last month.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Formally called the Parental Rights in Education Law, it has been dubbed the "Don't Say Gay" law by critics. It prohibits any instruction about sexual orientation or gender identity between kindergarten and third grade - when students are roughly between five and nine years old.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It also calls on school districts to avoid LGBT topics "when not age-appropriate or developmentally appropriate for students". The legislation also extends to student support services, including counselling, and grants parents the power to sue schools directly if they believe an educator has broken the law.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Opponents say the law will isolate and stigmatise LGBT youth, while supporters say it protects children from age-inappropriate content.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Disney initially stayed tight-lipped on the bill, but reversed course amid pressure from employees to oppose the policy.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>After it became law, Disney promised to push for its repeal and fight similar bills across the US.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In response, Mr DeSantis said the company, which has made Florida its home, had "crossed the line".<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Earlier this month, Republican lawmakers in the US Congress said they would oppose renewing the company's copyright on Mickey Mouse in 2024 because of Disney's "political and sexual agenda".<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Presentational grey line<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Why Florida's governor is after the Magic Kingdom (and so much more)<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Analysis By Mat Morrison<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The political skies are cloudy in the Sunshine State, and it could be the smoke from the culture wars below.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Governor Ron DeSantis is leading a charge, with a general's eagerness for combat and a politician's eye for opportunity.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Florida-based Disney is only the latest target in his crosshairs, and the so-called "Don't Say Gay" bill just one of a string of conservative laws with Tallahassee origins grabbing national headlines.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>There's also been the banning of maths textbooks that the state deemed inappropriate for the classroom. That came after a bill - supported by Mr DeSantis - that makes it easier for parents to challenge books and instructional materials they disapprove of. Supporters say it gives parents a great say in their children's education. Opponents say it's simply censorship.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The governor has also weighed in on the battle over Twitter, vowing to take on the company's board of directors over their tussle with Elon Musk. According to Bloomberg, Florida's state pension fund holds roughly a million shares, which may help explain Mr DeSantis's interest.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>And to top it off, he recently signed into law a ban on abortions after 15 weeks of pregnancy, with no exemptions for rape or incest.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The flurry of bills aimed at exciting conservative voters boils down to one important date: 5 November, 2024 - the next US presidential election day.-BBC<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Work from home to beat Putin, says EU<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The EU is asking its citizens to drive less, turn down air conditioning and work from home three days a week, to reduce reliance on Russian energy.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The measures, drawn up with the International Energy Agency, would save a typical household €450 (£375) a year.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Buying energy from Russia helps to support its economy and finance the war in Ukraine.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But Europe has said it cannot find alternative supplies, so it is asking citizens to adjust their lifestyles.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The nine-point plan, entitled “Playing My Part”, urges citizens to drive less, by using public transport, or working from home three days a week.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It also calls on citizens to:<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Heat their homes less in winter, and turn the air conditioning down in summer.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Drive more slowly on highways, with the car air conditioning turned down, which uses less fuel<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Use the train instead of flying<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Travel by public transport, walk, or cycle<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It also calls on cities to promote car-free Sundays, as some already do.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>“Faced with the horrendous scenes of human suffering that we’ve seen following Russia’s invasion of Ukraine, people in Europe want to take action,” said Fatih Birol, executive director of the IEA.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>“This guide has easy-to-follow steps that with little or no discomfort on our part can reduce the flow of money to Russia’s military and help put us on a path to a cleaner and more sustainable planet.”<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The IEA calculates that if every citizen followed its recommendations, it could save 220 million barrels of oil every year, enough to fill 120 supertankers. It would also save 17bn cubic metres of gas, enough to heat nearly 20 million homes.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In March, the EU announced a plan to make the bloc independent of Russian energy imports by 2030.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But the German energy minister Christian Lindner told the BBC on Wednesday it would be impossible to stop oil imports immediately.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The report also recommends that citizens consider investing in home insulation, smart digital thermostats, and digital cars, which can all help to reduce fossil fuel use.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"All these measures, they can be voluntary contributions," said Leonore Gewessler, Austria's environment minister. "But they need political action to underpin them."<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Austria has cut all fares on public transport to three euros per day, she said, and is introducing a programme to help low-income households replace old, inefficient appliances.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Eamon Ryan, Ireland's environment minister said by acting at a European level, it was easier to get the political messaging right.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"It is very difficult not to come across as someone who is telling the citizen what to do, or is being seen as a mean, Scrooge-like character," he said.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Separately, the UK announced it was tightening sanctions on non-energy goods exported from Russia, including a ban on caviar, silver and wood products.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Department for International Trade said it was also ramping up taxes on some other exports from Russia and Belarus, covering goods worth a total of £130m.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The products facing higher import duties include diamonds, rubber, pharmaceuticals, meat, coffee, tobacco and other products.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>International Trade Secretary, Anne-Marie Trevelyan, said the UK was taking every opportunity to "ratchet the pressure to isolate the Russian economy".<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"These further measures will tighten the screws, shutting down lucrative avenues of funding for Putin's war machine," she said.-BBC<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>KitKat maker Nestle warns of further price rises<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Swiss food giant Nestle has warned that it will continue to raise the prices of its products because of the rising costs of food.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The maker of KitKats and Nesquik cereal increased prices by more than 5% in the first three months of the year.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The price rise helped Nestle to report sales growth of 7.6% in the period.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>As costs rise, Nestle boss Mark Schneider said "further pricing and mitigating actions over the course of the year" will be required.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"We stepped up pricing in a responsible manner and saw sustained consumer demand," Mr Schneider added.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Food prices worldwide are at their highest since records began 60 years ago, according to the UN Food price index.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In the UK, the cost of living is rising at its fastest pace for 30 years as energy, fuel and food prices continue to soar and increase the squeeze on household budgets.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Analysts said Nestle's price rise of 5.2% helped its sales to increase by more than expected.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Hiking prices to keep things moving in the right direction in the wake of input cost inflation certainly won't be a course of action management want to have to take," said Matt Britzman, an analyst at Hargreaves Lansdown.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"But nonetheless, it's the position Nestle finds itself in and doesn't look likely to go away anytime soon," he added.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Last month, Nestle said it would only sell essentials such as baby formula and medical nutrition products in Russia. It suspended sales of brands such as KitKat and Nesquik and stopped investment in the country as a growing number of Western brands halted operations in Russia in protest at the war.-BBC<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>$50bn wiped off Netflix’s value as subscribers quit<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Shares in Netflix have slumped by 35% after it revealed a sharp drop in subscribers and warned millions more are set to quit the streaming service.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It wiped more than $50bn off the firm's market value as experts warned it faced a struggle to get back on track.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Netflix faces intense competition from streaming rivals, but was also hit after it raised prices and left Russia.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Yet some cast doubt on its plans to boost growth, which include bringing in a free ad-supported service.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It also plans to crack down on password sharing, estimating that more than 100 million non-paying households watch the service this way.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In a sign of the unease, one of America's best known investors, William Ackman, ditched his $1.1bn investment in Netflix on Wednesday, taking a loss of more than $400m.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>His hedge fund Pershing Square Capital Management had bought the shares just three months ago.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In a brief statement, Mr Ackman said that while Netflix's plans to change its business model made sense, investing in the company felt too risky.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"While Netflix's business is fundamentally simple to understand, in light of recent events, we have lost confidence in our ability to predict the company's future prospects with a sufficient degree of certainty," he wrote.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In a trading update on Tuesday, Netflix said its total number of subscribers had fallen by 200,000 in the first three months of 2022, falling well short of its target.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>netflix share graph<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It also said some two million more were likely to quit the service in the three months to July.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Some analysts warned that, after period of turbo-charged expansion during the pandemic, the streaming giant has run out of easy ways to grow.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Squeezed consumers are cutting back on streaming services to save money, while some feel there is too much content to choose from amid an avalanche of competition from rivals such as Disney and Amazon.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Netflix's wider problem, along with the rest of the sector is that consumers don't have unlimited funds, and that one or two subscriptions is usually enough," said Michael Hewson, an analyst at CMC Markets.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Once you move above that something has to give in a cost-of-living crisis, and while Netflix is still the market leader, it doesn't have the deeper pockets of Apple, Amazon or Disney, which makes it much more vulnerable to a margin squeeze."<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But Julian Aquilina, senior TV analyst at the media research firm Enders Analysis, said it was wrong to write the firm off.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The streaming market is maturing and the high expectations people had about Netflix are being reset.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"But I think it will remain the market leader, it has such a commanding position. If people are going to ditch a subscription, Netflix won't be the first one they choose."<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He added that the firm had just put up its prices "which always leads to a drop in subscribers, but also means it's making more revenue per customer".<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Netflix remains the world's leading streaming service with more than 220 million subscribers. It is increasingly producing its own content and shows such as the Crown, Bridgerton and Squid Game have been global hits.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The firm had enjoyed uninterrupted quarterly growth in subscribers since October 2011 but on Tuesday it admitted it was losing customers to rivals, while struggling to expand due to password sharing.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It also said a decision to raise prices in key markets had cost it 600,000 subscribers in North America alone, while its exit from Russia over Ukraine lost it 700,000.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Despite the challenges, revenue grew by $7.8bn (£6bn) in the first three months of the year, up 9.8% compared with the same period last year.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>That marked a slowdown from earlier quarters, while profits fell more than 6% to roughly $1.6bn.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Netflix's shares plunged 35% on Wednesday, and fell a further 3.5% on Thursday.-BBC<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Retail sales fall as rising cost of living bites<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>UK retail sales dropped in March as the rising cost of living hit consumer spending, according to official data.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Online sales fell sharply as people cut down on non-essential spending, the Office for National Statistics said.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Fuel sales also dropped as people cut travel amid record petrol and diesel prices.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>However, overall retail sales were still above pre-Covid levels, the ONS said.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Retail sales fell by an unexpected 1.4% in the month, and February's sales figures were also revised down.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Darren Morgan, ONS director of economic statistics, said "Online sales were hit particularly hard due to lower levels of discretionary spending.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Fuel sales also fell substantially, with evidence suggesting some people reduced non-essential journeys, following record high petrol prices, while food sales continued to fall, dropping for the fifth consecutive month."<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The cost of living crisis is being driven by surges in fuel, energy and food prices, with inflation running at 7% - its highest rate for 30 years.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Energy and fuel prices had been rising even before Russia's invasion of Ukraine as economies started to recover from the coronavirus pandemic, and the conflict has pushed up prices further.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Bethany Beckett, UK economist for Capital Economics, said inflation was set to keep rising and "there's a real risk of an outright fall in consumer spending in the coming quarters".<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The biggest contribution to the March retail sales slide came from the drop in online sales, which have been falling from pandemic highs after coronavirus restrictions eased.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Ms Beckett said March was a "second month of huge falls" for online sales, while fuel sales dropped after the biggest monthly price rise on record.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The sharp decline in sales in March suggests that households are already paring back spending to cope with higher costs for food and fuel.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"That is only likely to worsen in the coming months as the cost of living crisis intensifies. After all, the March data predated April's huge 54% rise in utility bills which will have hit household budgets hard," she added.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Separately, a survey by GfK suggested that UK consumer confidence in April dropped to its second-lowest level in 50 years due to people's weakening confidence in the economy and in their personal finances.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Consumer confidence was at its lowest ebb since July 2008, which was during the severe worldwide economic crisis, the market research firm said.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The bigger-than-expected fall in retail sales last month was largely down to the current cost of living crisis - that's according to ONS officials.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Online sales of non-essential items fell again, and the data suggests that record high petrol prices are having a major impact with a cut in non-essential journeys.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>More significantly perhaps is the fact food sales have been falling since last November, which is a sign that consumers are paring back their spending to cope with higher costs.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Economists believe the situation will only become more acute as March's data came before April's 54% hike in gas and electricity bills.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>They also point to falling consumer confidence - the survey for this in April slumped to its lowest level in 14 years.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Bank of England has been raising interest rates in an attempt to tackle the acceleration in inflation, and its key rate currently stands at 0.75%.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Its governor Andrew Bailey said on Thursday that the Bank was walking a tight line between dealing with inflation and avoiding recession.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Bank of England monetary policymaker Catherine Mann said on Thursday that interest rates would probably have to go up "a little bit" further.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Asked about the risk of so-called "stagflation", which is a combination of slow growth and high inflation, Ms Mann said "in some senses, we could say we're already there" because of the jump in energy prices and slowing retail sales.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"But I think that, you know, it's premature to kind of hearken back to the 1980s or the 1970s, in the US context in particular, and use that vocabulary," she said.-BBC<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Appointment-only late afternoon banking at Santander<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Santander is cutting the opening hours of its branches and only allowing pre-booked face-to-face appointments in the late afternoon.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>From 18 July, branches will shut for general inquiries at 15:00 instead of the current closing time of 16:30. Hundreds will also only have half-day opening on a Saturday.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The bank said customers who "required support" could book an afternoon slot.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It said that the move was a response to fewer people using the branch network.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>New opening times<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>A host of High Street banks have closed branches in recent years, to cut costs as customers have moved on to mobile and online banking.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>More than 4,000 branches have closed since the start of 2015, and hundreds more are scheduled to close.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Bank closures graphic<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Santander said that its reduced opening hours would ensure that none of its 450 branches would close.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Apart from a handful of shopping centre-based branches, the new weekday opening hours across the network will be 09:30 to 15:00.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Staff will be in branches for pre-booked face-to-face appointments between 15:00 and 17:00 if customers need support that cannot be provided online, on the phone, or earlier in the day.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Nearly 90% of branches would be open from 09:30 to 12:30 on a Saturday.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Branch staff would be trained to deal with customers on the phone alongside their face-to-face roles, the bank said.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Rival banks join forces to protect future of cash<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Richard Owen, head of branches at Santander, said: "These changes will enable us to maintain our existing branch network while providing significant additional capacity to help customers who want to talk to us by phone.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"We want to make sure we have the right mix of channels to help our customers however they choose to bank with us."<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He said the number of customers using its branches had fallen by 33% over the two years before the coronavirus pandemic, and a further 50% in 2020, and 12% in 2021.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Customers who visited branches regularly would be notified of the changes by post, the bank said.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Jenny Ross, money editor at the consumer association Which?, said: "Santander deserves credit for taking greater account of customer needs than some of its rivals that have slashed their branch networks without putting in place reasonable alternatives. But this continues a concerning overall trend of banks chipping away at face-to-face services and opening hours.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"While proposals from individual banks and the industry to protect cash are welcome, a piecemeal approach is unlikely to be enough to safeguard access to cash for the millions of people who rely on it."-BBC<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Malawi: Nacala Corridor to Spur Economic Growth<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>President Dr Chakwera says the signing of the Nacala Development Corridor Agreement, the Railway Agreement and the Road Transport Agreement between Mozambique and Malawi will boost economic operations in the two countries.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Dr Chakwera made the remarks in Nacala, Mozambique when he toured the port to appreciate the operations taking place there.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He said the port is helping to spur and foster economic development between the two countries.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"It is pleasing to note that since its completion, the developments made at the port are helping to increase capacity and efficiency in handling cargo and they are providing a cost-effective avenue for transporting people, goods and services," said Dr Chakwera.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Malawi leader added that these developments portray quality leadership and a good working relationship between the two countries hence the drive to modernise the port.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He, therefore, stressed the need for more collaboration and support in the operations of the port for the benefit of people in the two countries.-MBC.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Namibia: FAO Is Boosting Namibia's Locust Surveillance and Monitoring to Avert a Possible Disaster<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Brown Locust outbreaks in Southern Africa have not captured headlines in the same way as the desert locust in the Horn of Africa, and the Arabian peninsula has done.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>However, the pest remains a daunting challenge in regions in southern Namibia. The country is battling the fourth and worst wave of Brown Locusts outbreak.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Ministry of Agriculture, Water and Land Reform (MAWLR) in Namibia estimates that around 1.2 million hectares of cultivated fields have been infested by Brown Locusts in //Karas region alone, which has already spilled over into the neighbouring Hardap region to the north of //Karas. Both regions are just emerging from a six-year harsh drought period that ended recently in 2019, and the outbreak of the locust is heavily affecting livelihoods and agricultural production.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Worrying impact on the ground<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>//Karas and Hardap regions' main source of livelihoods is livestock farming, with about 70-80% of inhabitants raising small stock such as goats and sheep for own consumption and income.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Johannes Muhenje - a farmer from Aus - says he has never witnessed such large swarms of locusts in the 30 years that he has lived and reared animals in the //Karas region.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The locusts have started feasting on the grass and trees near our cattle outposts and very soon if they are not brought under control nothing will be left for our livestock," Johannes said expressing uncertainty about the future.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Eddy Kooper, a small-scale farmer in Constansia 2, a livestock outpost, expressed fear of what lies ahead if the locusts are not controlled.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'> <o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"It's a dire situation, we hope that the government can bring it under control and salvage the remaining grass so that our livestock do not starve during the winter period," he said.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Brown Locust masses on roads have also made roads in the region very slippery and dangerous. Locust related accidents have become frequent and several people have lost their lives in these accidents.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Scaling up monitoring and surveillance<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>To avert a crisis, Food and Agriculture Organization of the United Nations (FAO) has been at the forefront of supporting the Namibian Government through MAWLR in its monitoring and surveillance activities to boost the Ministry's locust control efforts on the ground. This current support builds on prior support targeting similar outbreaks of African Migratory Locust and Red Locust in the northern part of the country.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'> <o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>With funding from the USAID's Bureau for Humanitarian Assistance (BHA), FAO through the project "African Migratory Locust Response to Mitigate Impacts on Food Security and Livelihoods" is servicing 22 vehicles carrying out monitoring and control efforts. This support enables personnel on the ground to survey large tracts of land infested by locusts and to carry out locust control interventions.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Recently, FAO through partial funding from USAID-BHA donated 56 smartphones and 40 tablets to MAWLR to enable the Ministry to intensify surveillance, monitoring and the timely reporting and sharing of information on the locust outbreak.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>So far, the Ministry has managed to survey 2.119 million hectares across the country. Despite the challenges encountered in the field by monitoring and control personnel, including the rocky and<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>sometimes inaccessible terrain in certain areas, the monitoring and control teams remain resolute in their mission to safeguard livelihoods.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Surveillance and control can be a challenge in such a large region such as //Karas but we are trying our very best each day," said Llewellyn Muenjo, MAWLR's Chief Agricultural Technician in //Karas, who is leading a surveillance and control team on the ground. "We are hopeful that with strong stakeholder collaboration, such as that with FAO, we can overcome this threat and be able to avert a full-blown disaster," he added.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Additionally, FAO has facilitated training of 348 farmers and 158 technical staff on the eLocust3m mobile phone application for surveillance, monitoring and mapping across all 14 regions in Namibia.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"FAO remains committed to support Namibia's efforts to bring these menacing pests under control and encourages all stakeholders to join hands in combatting the outbreak," said Gift Kamupingene, FAO National Project Coordinator.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Locust outbreaks in Namibia<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>During February 2020 the first wave of the African Migratory Locust (AML) was reported in north-eastern in the Zambezi and Kavango East and West regions.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>This was followed by a second wave which was reported in August 2020, and covering the north-eastern as well as north-central regions of Kunene, Ohangwena, Oshana, Omusati and Oshikoto.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In March 2021, a third wave was reported and this comprised of AML and Red Locust - to a lesser extent - in the aforementioned areas, and Brown Locust in the southern parts.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>During that period, it was reported that over 2 000 hectares of cropland and more than 700,000 hectares of grazing fields were negatively impacted by the locusts.-Namibia Economist.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Nigeria: Why Nigeria's Not Deploying Adequate Technology to Tackle Insecurity - NSA<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>NSA Monguno added that one of the major causes of insecurity in Nigeria is the porosity of the country's borders.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Nigeria's security agencies are not deploying adequate technology to combat insecurity because of its difficult procurement process, the National Security Adviser (NSA), Babagana Monguno, has said.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The NSA stated this while briefing journalists at the State House in Abuja.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He also attributed the non-deployment of adequate technology to its expensive nature.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The comment by Mr Monguno, a retired major general, comes on the heels of heightened insecurity across the country.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'> <o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Challenges<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>While highlighting the challenges faced while procuring technological devices to fight insecurity, Mr Monguno said the government is trying its best to meet up with its responsibilities.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"So the first question has to do with why is it so difficult to deploy technology. One, technology is expensive. Technology takes time to acquire these things since inherently we do not produce these very, very delicate equipment.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"It's not as if the government is not making any effort to acquire but we need to know who to acquire this technology from, where, when and there are certain processes.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"For now, I know we have but the plight is that there are inadequate, so to the government, it's a continuous process. That's what I can say about the issue of deploying technolog," he said.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'> <o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He added that one of the major causes of insecurity in Nigeria is the porosity of the country's borders.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He said government is working with neighbouring countries to ensure that illegal entry into Nigeria is curtailed.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"On the question on border security, obviously, we have very extensive borders, and I'm not going to deceive anyone. All of us know that we have problems of infiltration by virtue of the fact that we have a very large economy.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"It attracts a lot of people from outside and they come in illegally, not just through the land borders, but also through the maritime waters.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Of course, in the case of the maritime borders, most of things have been done in the last one year to secure the maritime... .to domain up to the point that the International Maritime Bureau has acknowledged the fact that in 27 years, our maritime borders have not been as secure and peaceful as they were in the last one year.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"That is a fact, it is not a conjecture, I didn't cook up this thing. So we want to see how we can replicate that type of efforts put in the maritime domain on our land borders. That is something that council is looking into," he said.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Insecurity in Nigeria<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Insecurity in Nigeria has worsened under the Buhari administration as the country witnessed some of the bloodiest attacks in its history.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Almost every geo-political zone in the country suffers one form of attack or the other, notably from outfits such as Boko Haram/ISWAP, IPOB separatists and bandits.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The country also witnessed the highest number of school children abductions and hostage-taking since 2014 when the Chibok schoolgirls were abducted.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Besides, the country also witnessed the highest number of jailbreaks in a single year as no fewer than four prisons were affected last year.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Also, bandits overshadowed the Boko Haram/ISWAP terrorists as they made some states in the North-west and North-central the epicentres of killings in the country.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Although the President Muhammadu Buhari administration repeatedly claimed that Nigerians are more secure under it than under the previous administrations, this assertion has been disputed by facts on the ground.-Premium Times.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>ArelorMittal Liberia (AML) Concerned about Status of Third Amended MDA<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>ArcelorMittal Liberia (‘AML’ or ‘the Company’) has learned through unconfirmed media reports that the House of Representatives has made appointments to the conference committee and some other decisions over the past few days regarding the company’s Third Amendment to the Mineral Development Agreement (MDA), which is awaiting ratification by the Legislature.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Company believes that this Amendment to the MDA is in the best interest of Liberia and its people, as signed on September 10, 2021, after more than 12 months of negotiations with the Government of Liberia.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>AML remains committed to Liberia with its long-term investments that will deliver a project which will bring unrivalled and extensive economic and social benefits to the country for decades to come.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>For now, AML is awaiting all facts related to the actions by the Legislature before it will make any further statement on this matter.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Nigeria: Power Sector Key to Economic Development, Hampered By Infrastructural Gaps - Elumelu<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Chairman, Transnational Corporation Nigeria Plc, Mr. Tony Elumelu, yesterday said the Nigerian power sector was crucial for the country's economic transformation and remained a major catalyst for industrialisation.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But he said the sector is currently plagued by infrastructure challenges across the value chain including generation, transmission and distribution as well as metering and revenue collection.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Elumelu at the company's 16th Annual General Meeting (AGM) in Abuja, added that it was impossible for the country to make any significant progress without addressing challenges in the power sector.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'> <o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He, however, commended the federal government for the steps taken so far in response to the massive oil theft in the Niger Delta.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Elumelu said, "They've responded well so far," adding that "We hope the motion will lead hopefully to movement."<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He also lauded the government for paying part of its liabilities to the power sector and hoped this would be improved upon going forward.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He said appropriate measures must be taken to ensure that "what is generated can get to the last mile."<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>This came as shareholders at the meeting passed a resolution to change the name of the company from Transnational Corporation Nigeria Plc to Transnational Corporation Plc to adequately reflect its posture as an international company.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The investors also approved a two Kobo dividend for every ordinary share of 50 Kobo for the 2021 financial period.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Elumelu, nevertheless, said the corporation recorded "good performance" across all sectors of operations including power and hospitality.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'> <o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He said Transcorp Power Limited's revenue improved by 14 per cent from N65.1 billion to N74.3 billion or 70 per cent of total Group revenue.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Profit After Tax (PAT) also increased by 92 per cent from N12 billion to N23.1 billion.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"This excellent return again validated our investment and commitment to this critical sector," Elumelu said, adding that its investment in Trans Afam Power Limited was further consolidated in the Group financials in 2021, accounting for 15 per cent of revenue and 25 per cent of the Group's total assets as at December 2021.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He said the hospitality business returned to profitability which further enhanced both the Group and company's performance during the period under review.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He said for 2022, Transcorp Energy would accelerate minimum work programme activities to retain OPL 281 License in 2022 and achieve planned production in the fourth quarter of 2023.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'> <o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Among other things, he said, "We will focus on completing the Environmental Impact Assessment (EIA) and appraisal well drilling in 2022, thereby completing minimum work obligations. We will deploy a two-pronged strategy (explore while developing) to fast-track production on December 31, 2023."<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>On the Trans Afam Power, the chairman told shareholders that the management would "ramp up available capacity from an average of 116MW to 349MW through the recovery of GT 19 and 20 by Q2, 2022 and Afam Fast Three Power later in the year.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Also, utilisation rate is expected to improve from 62 per cent to 75 per cent through operational efficiency and process automation."<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Elumelu added that the 2021 financial performance represented a recovery from the COVID-19 pandemic compared to the previous year, especially in the power and hospitality segments.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>According to him, hotel occupancy in Transcorp surged by about 90 per cent after spending about $130 million to upgrade the facilities.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He assured shareholders that the group has a strategic investment plan with long-term orientation in the interest and benefit of investors and urged them to continue to investment in Transcorp shares as the future remained bright.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>On her part, President/Group Chief Executive, Transcorp, Owen Omogiafo, said 2021 was rewarding and revealed the strength and tenacity of the people.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>She said, "Achieving our successful performance despite the uncertainty during the year is a noteworthy achievement. It entails being innovative and resilient, particularly in the challenging times that businesses are facing.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"It is also a delight to know that the year ended 31st December 2021 was indeed a successful year, hence giving us a platform to go forth and do more in the years to come."<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>She added, "We look forward to an exciting 2022 as we work collectively towards consolidating, sustaining and surpassing our 2021 performance."<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Omogiafo added that the Transcorp is currently driving a strong integrated energy strategy as well as building for future generations.<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoListParagraphCxSpMiddle style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Shareholders also satisfaction over the Group's performance and urged them to do more in subsequent years.-This Day.<o:p></o:p></span></p><p class=MsoListParagraphCxSpLast style='background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:10.05pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:10.05pt'><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:10.05pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:10.05pt'><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:10.05pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:10.05pt'><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;padding:0cm 5.4pt 0cm 5.4pt;height:10.05pt'><p class=MsoNormal style='line-height:106%;background:white'><i><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Invest Wisely!</span></i><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><b><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Bulls n Bears </span></b><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'> </span><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Cellphone: </span><span lang=EN-US><a href="tel:%2B263%2077%20344%201674" target="_blank"><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>+263 77 344 1674</span></a></span><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Alt. Email: </span><span lang=EN-US><a href="mailto:info@bulls.co.zw"><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>info@bulls.co.zw</span></a></span><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'> </span><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Website: </span><span lang=EN-US><a href="http://www.bullszimbabwe.com"><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>www.bullszimbabwe.com</span></a></span><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'> </span><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Blog: </span><span lang=EN-US><a href="https://bullszimbabwe.com/category/blogs/bullish-thoughts/" target="_blank"><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>www.bullszimbabwe.com/blog</span></a></span><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Twitter: @bullsbears2010</span><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>LinkedIn: Bulls n Bears Zimbabwe</span><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Facebook: </span><span lang=EN-US><a href="http://www.google.com/url?q=http%3A%2F%2Fwww.facebook.com%2FBullsBearsZimbabwe&sa=D&sntz=1&usg=AFQjCNGhb_A5rp4biV1dGHbgiAhUxQqBXA" target="_blank"><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>www.facebook.com/BullsBearsZimbabwe</span></a></span><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%'><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Skype: Bulls.Bears </span><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='text-indent:33.35pt;line-height:106%'><span lang=EN-US><img border=0 width=278 height=111 id="_x0000_i1028" src="cid:image004.png@01D8563D.811A06F0"><!--[if gte mso 9]><xml>
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</xml><![endif]--></span><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%'><span lang=EN-US><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;margin-left:36.0pt;line-height:115%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:10.05pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr><td width=910 colspan=4 style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal style='line-height:105%'><strong><span lang=EN-US style='font-family:"Verdana",sans-serif;color:#345883'>INVESTORS DIARY 2022</span></strong><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p></o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr style='height:3.25pt'><td width=175 style='width:131.3pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='text-indent:12.6pt;line-height:105%'><b><span lang=EN-US style='font-family:"Verdana",sans-serif'>Company</span></b><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p></o:p></span></p></td><td width=207 style='width:155.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><b><span lang=EN-US style='font-family:"Verdana",sans-serif'>Event</span></b><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p></o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><b><span lang=EN-US style='font-family:"Verdana",sans-serif'>Venue</span></b><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p></o:p></span></p></td><td width=175 valign=bottom style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><b><span lang=EN-US style='font-family:"Verdana",sans-serif'>Date & Time</span></b><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p></o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr style='height:3.25pt'><td width=175 valign=top style='width:131.3pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US><o:p> </o:p></span></p></td><td width=207 style='width:155.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif'><o:p> </o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US><o:p> </o:p></span></p></td><td width=175 valign=top style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='margin-left:72.0pt;text-indent:-72.0pt;line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=175 valign=top style='width:131.3pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US><o:p> </o:p></span></p></td><td width=207 style='width:155.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif'><o:p> </o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US><o:p> </o:p></span></p></td><td width=175 valign=top style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='margin-left:72.0pt;text-indent:-72.0pt;line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=175 valign=top style='width:131.3pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US><o:p> </o:p></span></p></td><td width=207 style='width:155.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif'><o:p> </o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US><o:p> </o:p></span></p></td><td width=175 valign=top style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='margin-left:72.0pt;text-indent:-72.0pt;line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=175 valign=top style='width:131.3pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US><o:p> </o:p></span></p></td><td width=207 style='width:155.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif'><o:p> </o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US><o:p> </o:p></span></p></td><td width=175 valign=top style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='margin-left:72.0pt;text-indent:-72.0pt;line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=175 valign=top style='width:131.3pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US><o:p> </o:p></span></p></td><td width=207 style='width:155.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif'><o:p> </o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US><o:p> </o:p></span></p></td><td width=175 valign=top style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='margin-left:72.0pt;text-indent:-72.0pt;line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=382 colspan=2 valign=top style='width:286.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#D9D9D9;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><b><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:black'>Companies under Cautionary<o:p></o:p></span></b></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#D9D9D9;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><b><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:black'><o:p> </o:p></span></b></p></td><td width=175 valign=bottom style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#D9D9D9;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><b><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:black'><o:p> </o:p></span></b></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=382 colspan=2 valign=top style='width:286.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=175 valign=bottom style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=382 colspan=2 valign=top style='width:286.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>ART<o:p></o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>PPC<o:p></o:p></span></p></td><td width=175 valign=bottom style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr style='height:3.25pt'><td width=382 colspan=2 valign=top style='width:286.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>Starafrica<o:p></o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>Fidelity<o:p></o:p></span></p></td><td width=175 valign=bottom style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>Turnall<o:p></o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=382 colspan=2 valign=top style='width:286.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>Medtech<o:p></o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>Zimre<o:p></o:p></span></p></td><td width=175 valign=bottom style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>Nampak Zimbabwe<o:p></o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=382 colspan=2 valign=top style='width:286.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=175 valign=bottom style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:99.35pt'><td width=910 colspan=4 style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;padding:0cm 5.4pt 0cm 5.4pt;height:99.35pt'><p class=MsoBodyText align=center style='margin:0cm;margin-bottom:.0001pt;text-align:center;line-height:105%'><span lang=EN-US><a href="mailto:info@bulls.co.zw"><span lang=EN-ZW style='color:windowtext;mso-fareast-language:EN-ZW;text-decoration:none'><img border=0 width=804 height=268 id="Picture_x0020_2" src="cid:image005.jpg@01D8563D.811A06F0"></span></a></span><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p></o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:99.35pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#1F497D;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='line-height:105%'><i><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></i></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#1F497D;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='line-height:105%'><i><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:white'>DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of Faith Capital (Pvt) Ltd for general information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any securities. The information contained in this report has been compiled from sources believed to be reliable, but no representation or warranty is made or guarantee given as to its accuracy or completeness. All opinions expressed and recommendations made are subject to change without notice. Securities or financial instruments mentioned herein may not be suitable for all investors. Securities of emerging and mid-size growth companies typically involve a higher degree of risk and more volatility than the securities of more established companies. Neither Faith Capital nor any other member of Bulls ‘n Bears nor any other person, accepts any liability whatsoever for any loss howsoever arising from any use of this report or its contents or otherwise arising in connection therewith. Recipients of this 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 sourced from third parties.</span></i><i><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p></o:p></span></i></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='line-height:105%'><i><span lang=EN-GB style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:white'><o:p> </o:p></span></i></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif'>(c) 2022 <b>Web</b>:</span><span lang=EN-US><a href="http://www.bullszimbabwe.com"><span style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:black'> www.bullszimbabwe.com </span></a></span><b><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif'>Email:</span></b><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif'> </span><span lang=EN-US><a href="mailto:info@bulls.co.zw"><span style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:black'>info@bulls.co.zw</span></a></span><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif'> <b>Tel:</b> +263 4 2927658 <b>Cell:</b> +263 77 344 1674<o:p></o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=bottom style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr></table></div><p class=MsoNormal><span lang=EN-US><o:p> </o:p></span></p><p class=MsoNormal><span lang=EN-US><o:p> </o:p></span></p><p class=MsoNormal><span lang=EN-US><o:p> </o:p></span></p></div></body></html>