<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:m="http://schemas.microsoft.com/office/2004/12/omml" xmlns="http://www.w3.org/TR/REC-html40"><head><meta http-equiv=Content-Type content="text/html; charset=iso-8859-1"><meta name=Generator content="Microsoft Word 15 (filtered medium)"><!--[if !mso]><style>v\:* {behavior:url(#default#VML);}
o\:* {behavior:url(#default#VML);}
w\:* {behavior:url(#default#VML);}
.shape {behavior:url(#default#VML);}
</style><![endif]--><style><!--
/* Font Definitions */
@font-face
{font-family:Wingdings;
panose-1:5 0 0 0 0 0 0 0 0 0;}
@font-face
{font-family:"Cambria Math";
panose-1:2 4 5 3 5 4 6 3 2 4;}
@font-face
{font-family:Calibri;
panose-1:2 15 5 2 2 2 4 3 2 4;}
@font-face
{font-family:Verdana;
panose-1:2 11 6 4 3 5 4 4 2 4;}
@font-face
{font-family:"Trebuchet MS";
panose-1:2 11 6 3 2 2 2 2 2 4;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin:0cm;
margin-bottom:.0001pt;
font-size:11.0pt;
font-family:"Calibri",sans-serif;
mso-fareast-language:EN-US;}
p.MsoBodyText, li.MsoBodyText, div.MsoBodyText
{mso-style-priority:99;
mso-style-link:"Body Text Char";
mso-margin-top-alt:auto;
margin-right:0cm;
mso-margin-bottom-alt:auto;
margin-left:0cm;
font-size:12.0pt;
font-family:"Times New Roman",serif;
mso-fareast-language:EN-US;}
p.MsoSubtitle, li.MsoSubtitle, div.MsoSubtitle
{mso-style-priority:11;
mso-style-link:"Subtitle Char";
margin-top:0cm;
margin-right:0cm;
margin-bottom:8.0pt;
margin-left:0cm;
font-size:11.0pt;
font-family:"Calibri",sans-serif;
color:#5A5A5A;
letter-spacing:.75pt;
mso-fareast-language:EN-US;}
a:link, span.MsoHyperlink
{mso-style-priority:99;
color:#0563C1;
text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
{mso-style-priority:99;
color:#954F72;
text-decoration:underline;}
p.MsoListParagraph, li.MsoListParagraph, div.MsoListParagraph
{mso-style-priority:34;
margin-top:0cm;
margin-right:0cm;
margin-bottom:8.0pt;
margin-left:36.0pt;
mso-add-space:auto;
line-height:105%;
font-size:11.0pt;
font-family:"Calibri",sans-serif;
mso-fareast-language:EN-US;}
p.MsoListParagraphCxSpFirst, li.MsoListParagraphCxSpFirst, div.MsoListParagraphCxSpFirst
{mso-style-priority:34;
mso-style-type:export-only;
margin-top:0cm;
margin-right:0cm;
margin-bottom:0cm;
margin-left:36.0pt;
margin-bottom:.0001pt;
mso-add-space:auto;
line-height:105%;
font-size:11.0pt;
font-family:"Calibri",sans-serif;
mso-fareast-language:EN-US;}
p.MsoListParagraphCxSpMiddle, li.MsoListParagraphCxSpMiddle, div.MsoListParagraphCxSpMiddle
{mso-style-priority:34;
mso-style-type:export-only;
margin-top:0cm;
margin-right:0cm;
margin-bottom:0cm;
margin-left:36.0pt;
margin-bottom:.0001pt;
mso-add-space:auto;
line-height:105%;
font-size:11.0pt;
font-family:"Calibri",sans-serif;
mso-fareast-language:EN-US;}
p.MsoListParagraphCxSpLast, li.MsoListParagraphCxSpLast, div.MsoListParagraphCxSpLast
{mso-style-priority:34;
mso-style-type:export-only;
margin-top:0cm;
margin-right:0cm;
margin-bottom:8.0pt;
margin-left:36.0pt;
mso-add-space:auto;
line-height:105%;
font-size:11.0pt;
font-family:"Calibri",sans-serif;
mso-fareast-language:EN-US;}
span.EmailStyle17
{mso-style-type:personal-compose;
font-family:"Calibri",sans-serif;
color:windowtext;}
span.BodyTextChar
{mso-style-name:"Body Text Char";
mso-style-priority:99;
mso-style-link:"Body Text";
font-family:"Times New Roman",serif;}
span.SubtitleChar
{mso-style-name:"Subtitle Char";
mso-style-priority:11;
mso-style-link:Subtitle;
font-family:"Calibri",sans-serif;
color:#5A5A5A;
letter-spacing:.75pt;}
span.style30
{mso-style-name:style30;}
.MsoChpDefault
{mso-style-type:export-only;
font-family:"Calibri",sans-serif;
mso-fareast-language:EN-US;}
@page WordSection1
{size:612.0pt 792.0pt;
margin:72.0pt 72.0pt 72.0pt 72.0pt;}
div.WordSection1
{page:WordSection1;}
/* List Definitions */
@list l0
{mso-list-id:578756740;
mso-list-type:hybrid;
mso-list-template-ids:965541148 805896193 805896205 805896197 805896193 805896195 805896197 805896193 805896195 805896197;}
@list l0:level1
{mso-level-number-format:bullet;
mso-level-text:\F0B7;
mso-level-tab-stop:none;
mso-level-number-position:left;
text-indent:-18.0pt;
font-family:Symbol;}
@list l0:level2
{mso-level-number-format:bullet;
mso-level-text:\F0FC;
mso-level-tab-stop:none;
mso-level-number-position:left;
text-indent:-18.0pt;
font-family:Wingdings;}
@list l0:level3
{mso-level-number-format:bullet;
mso-level-text:\F0A7;
mso-level-tab-stop:none;
mso-level-number-position:left;
text-indent:-18.0pt;
font-family:Wingdings;}
@list l0:level4
{mso-level-number-format:bullet;
mso-level-text:\F0B7;
mso-level-tab-stop:none;
mso-level-number-position:left;
text-indent:-18.0pt;
font-family:Symbol;}
@list l0:level5
{mso-level-number-format:bullet;
mso-level-text:o;
mso-level-tab-stop:none;
mso-level-number-position:left;
text-indent:-18.0pt;
font-family:"Courier New";}
@list l0:level6
{mso-level-number-format:bullet;
mso-level-text:\F0A7;
mso-level-tab-stop:none;
mso-level-number-position:left;
text-indent:-18.0pt;
font-family:Wingdings;}
@list l0:level7
{mso-level-number-format:bullet;
mso-level-text:\F0B7;
mso-level-tab-stop:none;
mso-level-number-position:left;
text-indent:-18.0pt;
font-family:Symbol;}
@list l0:level8
{mso-level-number-format:bullet;
mso-level-text:o;
mso-level-tab-stop:none;
mso-level-number-position:left;
text-indent:-18.0pt;
font-family:"Courier New";}
@list l0:level9
{mso-level-number-format:bullet;
mso-level-text:\F0A7;
mso-level-tab-stop:none;
mso-level-number-position:left;
text-indent:-18.0pt;
font-family:Wingdings;}
ol
{margin-bottom:0cm;}
ul
{margin-bottom:0cm;}
--></style><!--[if gte mso 9]><xml>
<o:shapedefaults v:ext="edit" spidmax="1027" />
</xml><![endif]--><!--[if gte mso 9]><xml>
<o:shapelayout v:ext="edit">
<o:idmap v:ext="edit" data="1" />
</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_3" src="cid:image001.png@01DA58BD.534B2DB0"></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:bulls@bullszimbabwe.com?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::: 06 February 2024 </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'></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;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:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 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'>Senegal: Internet Mobile Data Temporarily Suspended, Says Minister<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 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'>Sudan Communications Blackout Widens Amid Accusations<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 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: CBN Uncovers $2.4 Billion False Forex Claim Pressuring Naira - Cardoso<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 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 Fails to Meet Oil Production Targets in 10yrs<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 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'>Tanzania: Dar Port - No Sugar Stranded<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 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: Protest in Minna Over High Cost of Living<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 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'>South Africa: Work Seekers Warned Not to Fall for Jobs Scam<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 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'>Namibia: Drought Relief Assistance in Full Swing<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 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'>Snap to lay off 'approximately' 10% of its staff<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 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'>McDonald's sales dented by Israel-Gaza boycotts<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 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'>Arrival: Electric van maker's UK arm enters administration<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 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'>Boeing in ‘last chance saloon’, warns Emirates boss<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 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'>China can now monitor government-funded projects 24/7<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpLast style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 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'>One million electric cars sold in the UK since 2002<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;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 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=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><!--[if gte vml 1]><v:shapetype id="_x0000_t75" coordsize="21600,21600" o:spt="75" o:preferrelative="t" path="m@4@5l@4@11@9@11@9@5xe" filled="f" stroked="f">
<v:stroke joinstyle="miter" />
<v:formulas>
<v:f eqn="if lineDrawn pixelLineWidth 0" />
<v:f eqn="sum @0 1 0" />
<v:f eqn="sum 0 0 @1" />
<v:f eqn="prod @2 1 2" />
<v:f eqn="prod @3 21600 pixelWidth" />
<v:f eqn="prod @3 21600 pixelHeight" />
<v:f eqn="sum @0 0 1" />
<v:f eqn="prod @6 1 2" />
<v:f eqn="prod @7 21600 pixelWidth" />
<v:f eqn="sum @8 21600 0" />
<v:f eqn="prod @7 21600 pixelHeight" />
<v:f eqn="sum @10 21600 0" />
</v:formulas>
<v:path o:extrusionok="f" gradientshapeok="t" o:connecttype="rect" />
<o:lock v:ext="edit" aspectratio="t" />
</v:shapetype><v:shape id="Picture_x0020_4" o:spid="_x0000_s1026" type="#_x0000_t75" href="https://www.cloverleaf.co.zw/" style='position:absolute;left:0;text-align:left;margin-left:40.45pt;margin-top:8.55pt;width:367.5pt;height:281.8pt;z-index:251658240;visibility:visible;mso-wrap-style:square;mso-width-percent:0;mso-height-percent:0;mso-wrap-distance-left:9pt;mso-wrap-distance-top:0;mso-wrap-distance-right:9pt;mso-wrap-distance-bottom:0;mso-position-horizontal:absolute;mso-position-horizontal-relative:text;mso-position-vertical:absolute;mso-position-vertical-relative:text;mso-width-percent:0;mso-height-percent:0;mso-width-relative:margin;mso-height-relative:margin' o:button="t">
<v:fill o:detectmouseclick="t" />
<v:imagedata src="cid:image002.png@01DA58BD.534B2DB0" o:title="" />
<w:wrap type="square"/>
</v:shape><![endif]--><![if !vml]><a href="https://www.cloverleaf.co.zw/"><img border=0 width=490 height=376 src="cid:image003.jpg@01DA58BD.534B2DB0" align=left hspace=12 title="" v:shapes="Picture_x0020_4"></a><![endif]><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Senegal: Internet Mobile Data Temporarily Suspended, Says Minister</span></b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Senegalese authorities announce that they have “temporarily” suspended mobile data internet from Sunday February 4 at 10 p.m.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>“The Minister of Communication, Telecommunications, and Digital Affairs informs the public that due to the dissemination of several hateful and subversive messages relayed on social networks in a context of threats of disturbances to public order, the internet mobile data is temporarily suspended from Sunday February 4 at 10 p.m.,” reads a press release from the supervisory authority made public the same day.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>“Telephone operators are required to comply with notified requisitions.”<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;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:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Sudan Communications Blackout Widens Amid Accusations<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Port Sudan — The El Sudani and MTN telecommunication and Internet networks continued to be cut off across the country for the second day yesterday. Nearly two thirds of the country's population is currently unreachable. Zain network went out of service in Port Sudan, Red Sea state. Supporters of the warring Sudan Armed Forces (SAF) and the Rapid Support Forces (RSF) are exchanging accusations over who is behind the cuts.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The management of El Sudani telecom company (Sudatel) apologised for "the current network outage" on Saturday, and said its team is working hard to restore services as soon as possible.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The telecommunication and Internet blackout in Sudan has rendered about 65 per cent of the country's population unreachable. This morning, Radio Dabanga received WhatsApp messages via Zain from parts of White Nile State and from Omdurman, amid rumours about this provider also to be blocked soon. People in Port Sudan are still entirely unreachable.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Large parts of Darfur have been experiencing months-long blackouts, forcing citizens to use Starlink satellite communication network.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Sudanese Fikra for Studies and Development organisation confirmed "reports of complete mobile and internet blackout in multiple areas in Sudan" in a post on X (formerly Twitter) yesterday. "They're a lifeline for millions of Sudanese civilians both in and out of the country who depend on it for humanitarian relief and money transfers as a means of survival.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"We call on regional powers and stakeholders to demand and pressure both the SAF and RSF to reverse this decision and not inflict any further pain and terror on civilians. This war is between SAF and the RSF, civilians should not pay the price nor be the collateral for their warring actions."<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Sudanese American Physicians Association (SAPA) also pointed to the impact on humanitarian aid operations in a statement on X yesterday. "The situation has drastically worsened recently. This blackout directly impacts our humanitarian aid programs, limiting our reach and ability to assist those in need within the areas of our operations."<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Accused<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Sudanese are accusing members of the ousted Al Bashir regime, the army, or the RSF of being behind the blackout.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Journalist Mohamed Mustafa stated that the "Communication and internet access in the majority of Sudan's states were blocked by the Janjaweed (aka RSF). Sudanese rely on online banking applications to access their bank accounts after RSF soldiers robbed them of their money and valuables".<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Amjad Farid, director of Fikra organisation, fellow of the European Council on Foreign Relations, and former adviser to the Prime Minister's Office, accused the RSF of "directly assaulting the main hubs of telecoms companies in Khartoum and ordering engineers to shut off Internet access in various regions of the country at gunpoint.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"There is no justification for the militia's crimes, and anyone who tries to justify them should keep in mind, if that bothers them, that the communications network is linked to the online banking transfer services on which all Sudanese currently live and receive support from their families, not to mention checking on and communicating with them.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The fascist Rapid Support Forces militia seems to be perpetrating this crime as a prelude to larger crimes that it plans to commit and conceal behind the veil of a media blackout that uncovered the atrocities it committed in El Geneina and the rest of West and South Darfur."<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>According to well-known columnist El Nour Hamed, affiliates of the former Al Bashir regime are behind the blackout. "The communications war, now represented in an Internet blackout, serves criminal purposes". He stated on X that "we know the kezan* approach" since the blackout following the violent dispersal of the sit-in in front of the SAF General Command in central Khartoum on June 3, 2019.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The victims of this war are civilians. However, have the kezan, since 1989,cared about how their criminality and greed affect civilians?<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Pro-RSF accounts on X attributed the communications outages to the Sudanese Air Force's air strikes targeting the main telecommunications tower and server sites in Khartoum.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Radio Dabanga has not been able to obtain confirmed testimony about the accusations or access to representatives of the army or the RSF.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>* The word kezan, or kizan, is a pejorative nickname used by many Sudanese for Islamist loyalists to the regime of Omar Al Bashir (1989-2019) and who enjoyed far-fetching privileges during his rule. Kezan is the plural of koz which means 'wooden or iron mug'. The nickname is based on a description the Islamic Brotherhood called themselves when the founder of the group, the Egyptian Hasan El Banna, said: "Religion is a sea, and we are the mugs that draw from it".<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>-Dabanga.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;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:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;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:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Nigeria: CBN Uncovers $2.4 Billion False Forex Claim Pressuring Naira - Cardoso<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The CBN hired Deloitte to investigate the forex claims in order to get a true picture things, Cardoso said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Central Bank of Nigeria (CBN) uncovered invalid foreign overdue claims totalling $2.4 billion, which have pressured the naira for long and spooked the currency market, Central Bank Governor Olayemi Cardoso said on Monday.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Mr Cardoso said the discovery was made after an audit by the consultant that the Central Bank engaged brought several shady deals to light.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>After seven years of being concealed from public knowledge, the audited accounts of the CBN became public last year during which auditors revealed a $7 billion backlog of unmet dollar demand from investors and currency users.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>That has created an overhang in the market which, unless cleared, could keep the naira pressured, leaving the currency on a continued free fall against the dollar.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The CBN hired Deloitte to investigate the forex claims to get a true picture of things, Mr Cardoso said during an interview with local TV Arise, broadcast Monday morning.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Deloitte report found that as much as $2.4 billion of the said backlog are false claims, with claimers unable to present import documents in some instances, he said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"We had had reasons to believe we needed to take a harder look at these obligations. So we contracted Deloitte management consultants to do forensics of all these obligations and to actually tell us what was valid and what was not," Mr Cardoso said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The result that came out of this was startling in a great respect. It was startling. We discovered that of the roughly $7 billion, about $2.4 billion had issues, which we believe had no business being there and the infractions on that ranged from so many things, for example not having valid import documents and in some cases, entities that do not exist.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"There were account parties who had asked for foreign exchange and got more than they asked for. There were some who didn't even ask for any and got. So there were whole loads of infractions there," he added.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Free Fall<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Nigeria's naira has been on a much-prolonged retreat, dating back to the pandemic days, against the dollar as a heap of unmet obligations to investors and exporters continues to strain the currency, which has weakened to a dross.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Naira finished 2023 as the world's worst-performing currency, weighed down by illiquidity and commonplace speculative practices among market operators and street traders.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Currency users are having to throng the parallel market, where the exchange rate is higher but the dollar is in greater supply, to have their needs met.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>President Bola Tinubu set out shortly after his inauguration last year to liberalise the foreign exchange system, which has been bogged down by an unorthodox regime that pegged the exchange rate rather than allowing the naira to trade freely and find price discovery.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The CBN collapsed the multiple naira exchange rates, adopted under the immediate past CBN governor, Godwin Emefiele, into a single window as part of a slew of currency reforms that followed. It went further to initiate its first devaluation round under the current administration around mid-June.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Those market-friendly moves were aimed at courting international investors but they are hurting Nigerians at home, considering that they are adding fuel to an already elevated inflation by making imported goods and raw materials much more expensive.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In the week that just went by, naira's official rate dived by over 36 per cent, dropping to a lower level than the street rate, after the CBN overhauled its approach to setting the rate in the official market and came hard on traders involved in misguiding the public with distorted prices.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Between the point Mr Tinubu took office and now, the naira has depreciated by approximately 68 per cent, 50 per cent in 2023 alone.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But banks also have been fingered in the speculative activities that are pressuring the naira.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Mr Cardoso gave a tall order to banks at the end of January, ordering them to increase dollar supply to the market by ensuring their foreign exchange net open position does not exceed 20 per cent of shareholders' funds unimpeded by losses.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Put differently, the gross amount of loans lenders can grant in foreign currency must not exceed one-fifth of their shareholders' funds, which could force banks to make the remaining cash available to the market, a push that could boost liquidity in the system.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Light at the end of the tunnel<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Mr Cardoso said at the interview that those making invalid claims of $2.4 billion would not get anything.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"As they were identified, we wrote to the authorised dealers to come in and explain what the situation was. Sadly, quite frankly, much of those has not been disputed to our satisfaction."<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>So far, the apex bank has settled requests in the neighbourhood of $2.3 billion including those from airlines operating in the country, he went further to say. That leaves the balance of the genuine arrears of dollar demand at $2.2 billion.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Mr Cardoso assured that the remainder will be cleared very shortly.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"I think we are at the end of this, to put it that way," he said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Last month, Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, told Bloomberg the government had opened talks with the World Bank with a view to securing a lifeline of between $1 billion and $1.5 billion from the World Bank to rescue the naira.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>-Premium Times.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;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:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;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:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Nigeria Fails to Meet Oil Production Targets in 10yrs<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Despite having crude oil in abundance, Nigeria has consistently failed to meet oil production targets as stipulated in national budgets over the last 10 years, investigations by Daily Trust have shown.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The country has, over time, maintained a mono-economy with crude oil sales constituting about 90 per cent of its foreign exchange earnings.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>However, experts have projected that non-oil exports should be the nation's primary concern due to the volatility in the oil sector which Nigeria is susceptible to.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Ambitious projections<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Data obtained by this newspaper showed that the country consistently failed to meet its oil production targets by an average of 300,000 to 600,000 barrels per day (bpd) recorded shortfalls from 2013 to 2023.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>A breakdown of the data showed that in 2013, Nigeria produced between 2.1 million and 2.2 million barrels of crude oil.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The then Minister of Finance and Coordinating Minister for the Economy, Ngozi Okonjo-Iweala had said that Nigeria was losing $1 billion revenue monthly, following the drop in oil production and the falling prices of crude oil at the international market.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Total losses, which stemmed from shut-in due to force majeure declared by oil companies, oil theft and illegal bunkering, was put at 300,000 barrels per day. The current production ranged from 2.1 million bpd to 2.2 million barrels per day, less than an estimated 2.5 million barrels per day for the 2013 budget," she had said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In the 2014 budget, crude oil production was pegged at 2.3883 million barrels per day. However, the figures from the Nigerian National Petroleum Company Limited (NNPCL), then a public corporation, showed that 2.05 million barrels per day (mbpd) of crude were produced that year, a shortfall of at least 450,000 barrels.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In 2015, former President Goodluck Jonathan signed the budget with a projection of 2.27 million bpd, and a crude oil price of $65. However, Nigeria's oil production averaged 1.9 million bpd in 2015, representing a shortfall of over 300,000 bpd.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Subsequently, the 2016 budget was prepared as Nigeria was on the verge of exiting recession, and oil production was pegged at 2.2 million bpd.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>By May 2016, Nigeria's oil production had fallen drastically to 1.4 million bpd, nearly a 30-year low. After some government interventions, some of the disrupted productions were restored, and crude oil output averaged 1.6 million bpd in June, and continued in that trajectory until the end of the year.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Similarly, in the 2017 budget, oil production was pegged at 2.2 million bpd and the oil price was $42.5 bpb. However, crude oil production has been far below projections as the Medium-Term Expenditure Framework for 2018 showed that the 2.2 million bpd was not met as average oil production fell to 2.04 million bpd.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>A similar situation recurred in relation to the 2018 budget which had a proposal of 2.3 million bpd but actual production was pegged at 1.84 million bpd by the then NNPC.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Also, in 2019, oil production was projected at 2.3 million bpd with crude oil price pegged at $60 per barrel. However, crude oil production by Nigeria fell for the third month in a row in December 2019, to a new low of 1.5 million bpd as against a target production level of 2.18 million bpd at $57 per barrel.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In 2020, the assumption of oil production of 2.18 million bpd was presented by the federal government with an oil price benchmark of $57 per barrel.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>However, in the year under review, total crude oil production in Nigeria dropped to about 900,000 barrels per day as a result of the effects of COVID-19.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In the same vein, the 2021 budget was based on an oil price benchmark of US$40 per barrel, and an oil production output of 1.86 million barrels per day, although Nigeria had to shed off about 313,000 bpd for the first half of 2021 in line with Organisation of Petroeleum Exporting Countries (OPEC)+ cut agreement to stabilise global oil prices. Nigeria produced an average of 1.4 million bpd of crude. At the end of the year, the country ended up producing a maximum of 1.5 mbpd.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In 2022, the projected crude oil production was 1.88 million bpd. However, reports from the NNPCL showed that Nigeria was barely able to produce 70 per cent of the total production forecast, losing roughly the rest to oil theft and sabotage, leading to incessant shut-in of planned output for the period. Nigeria's production hovered around 1 million to 1.5 million bpd in 2022.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In the 2023 budget, the crude oil price benchmark was $75 per barrel with crude oil production pegged at 1.69 million bpd.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>However, in the middle of that year, the country produced 998,602 bpd of crude oil, 66,317 bpd of blended condensates, and 180,110 bpd of unblended condensates.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>These figures made up 1.2 million bpd recorded, according to the NNPCL.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Consequently, with an average of N1 billion monthly loss, the country lost N12 billion annually due to its inability to meet crude oil production target, which translates to N120 billion in the last 10 years.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Crude theft, vandalism remain our nightmare<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Although crude oil theft and pipeline vandalism are not peculiar to Nigeria, the inability of the petrochemical refineries to become fully operational has compounded Nigeria's woes.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In a recent report posted on its X account formerly Twitter, the NNPCL said it recorded 127 crude oil theft incidents between December 2 and 8, 2023.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>During the period, the NNPCL and its security partners said they discovered several incidents, including 51 illegal refineries that were uncovered, 29 illegal connections were identified, vessels were found to have AIS (Automatic Identification System) infractions and six acts of pipeline vandalism were detected.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The report specified that crude oil theft incidents occurred across various locations in Bayelsa, Rivers, Delta, Abia and Imo states, though some arrests were said to have been made.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In a recent interview, the Group Managing Director of the NNPCL, Mele Kyari, said pipeline vandalism was being tackled, adding that when "The Dangote Refinery starts churning out products, they will be transported across the country using trucks."<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Deploy AI in pipeline surveillance to curb theft - Expert<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>A development expert, Joseph Momoh, said it was high time the federal government, through the NNPCL, commenced the deployment of Artificial Intelligence (AI) in pipeline surveillance.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"We cannot succeed in tackling pipeline vandalism with only human beings watching over it. We also require artificial intelligence to always alert those in charge of imminent danger," he said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Momoh further advised the NNPCL not to renege on its promise to resume full operations at the Port Harcourt, Warri and Kaduna refineries as Nigeria not only needed to meet the crude production target, but must also start refining the crude it produces.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>-Daily Trust.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;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:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Tanzania: Dar Port - No Sugar Stranded<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>DAR ES SALAAM: THE Dar es Salaam Port on Sunday came out strongly turning down reports that consignments of sugar were stranded at the port amid ongoing crisis.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The port management reacted to the media reports which have caused panic among the members of the public.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The reports caused public panic yesterday (Saturday) that sugar has been stranded in the port. This is not true, sugar can't be stranded in the port, anything that has public interest can't be stranded here," Mr Mrisho Mrisho, Port Director, affirmed while speaking at a press conference in Dar es Salaam.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Explaining, Mr Mrisho said last month they received a letter from the Sugar Board of Tanzania (SBT), asking the port to facilitate activities of their three vessels carrying sugar cargo.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The vessels are JPO AQUARIUS, MSC Alizee II ship and Okahama Star.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The SBT letter asked the port to give the ships a priority berthing as emergency case.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"We (port management) knowing this matter has public interest, we have facilitated access. The first vessel we served on January 29th and some journalists observed. The sugar containers were all offloaded in one day and the board thanked us," he explained.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The port then waited for the second ship (MSC Alizee II), which was expected to arrive on January 26th.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Since January 26th we kept the berth open waiting for it, but it arrived on February 2. When it arrived, we served it on the same day and journalists were also invited to witness offloading of the sugar consignmets," he said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The third vessel (Yokohama) also arrived on February 2, noting that these two vessels delayed, because they arrived first in neighbouring country's port where they were delayed.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Our work here is to load and offload and we ask other institutions also to play their part in ensuring that the cargo reaches the clients, so if the cargo delays to reach the client(s), we should then ask which institution has caused the delay," he added.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He further assured that the activities were ongoing without any obstacles at the port at all berths from berth number zero (Ro-Ro berth) up to number 11 as well as at the Kurasini Oil Jetty (KOJ).<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Vessels are continually being handled, as we talk in this month alone in four days, we have handled over 10 vessels. In January we have handled 86 ships, despite the rain challenges, we have managed to go at good speed. We expect that speed will further continue," he said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He explained that the port receives a vessel carrying over 50,000 tonnes of cargo, or three ships with over 3000 containers each that makes a total of about 9000 or 10,000 containers.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The question to ask here if you don't clear those containers, do you think there could be any space here at the port. In fact, there could be no space remaining," he argued.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Therefore, let me say that it is not true that the cargos are not released. The customers take their cargo and we receive other consignments, just go and observe the port's gate and you would see a queue of trucks leaving the port with cargos," he said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Meanwhile, SBT Director General, Prof Kenneth Bengesi, told the Daily News yesterday that MSC Alizee II and Yokohama vessels arrived on Friday with a total of 4000 tonnes of sugar, expressing hopes that when distributed to the market, the current shortage would have been lessened.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He added: "The port management has given priority to dock and offload immediately due to high demand from consumers."<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Elaborating, he noted that on January 29th, another ship docked at the port with consignment and completed offloading sugar according to the customs.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Likewise, he directed that the imported sugar must be sold at the price of 2,700/- to 3,200/- as expected by the government, saying: "Hence, business people who do not want to adhere to this order will risk facing legal measures."<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>-Daily News.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;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:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;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:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Nigeria: Protest in Minna Over High Cost of Living<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Minna — Scores of Women and youth on Monday protested the high cost of living in Nigeria.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>They also protested the epileptic power and water supply in Minna, the state capital.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The protest started at about 7am, resulting in the protesters blocking the ever busy Minna - Bida Road, thereby obstructing vehicular movements to and from the Niger state capital.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The protesters carried placards, some of which had captions like 'No Food,' 'We are Dieing of Hunger,' 'Save Our families' etc<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Several travelers and staff of the National Examination Council NECO and the Federal University of Technology Minna, whose headquarters are located outside the city centre, could not access their places of work, with majority of them returning home.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It could not be confirmed under which platform the protest took place, however some of the protesters who carried fresh leaves said the high cost of living was making things difficult for their families.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The police tried to disperse the protesters but were chased away by the protesters.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>-This Day.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;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:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;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:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>South Africa: Work Seekers Warned Not to Fall for Jobs Scam<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Department of Employment and Labour has warned work seekers not to pay for employment opportunities.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The department has noted with concern a number of scams that keep popping up periodically, where unemployed people are promised jobs at a fee.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The latest scam is one that uses the department's name for promises of so-called admin worker jobs, where scammers request unsuspecting members of the public to pay a refundable fee of R250 at PEP stores for background checks.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Work seekers are advised not to deposit any fees and share their contact and personal information, thus compromising their security.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"No person may charge a fee to any work seeker for providing employment services to that work seeker. This is according to the Employment Services (ES) Act.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The Employment Services Act further states that a private employment agency must not deduct any amount from the remuneration of an employee or require or permit an employee to pay any amount in respect of placing that employee with an employer," the department said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The department further highlighted that an unemployment rate of 31.9% has presented a fertile ground for scammers to dupe the public with promises of job offers in return for a fee.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Department of Employment and Labour, through the Public Employment Services (PES) branch, as a custodian of Employment Services Act, must provide the following public employment services free of charge to members of the public in a manner that is open and accessible:<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>· matching work seekers with available work opportunities;<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>· registering work seekers;<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>· registering job vacancies and other work opportunities;<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>· facilitating the placing of work seekers with employers or in other work opportunities;<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>· advising work seekers on access to education and training;<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>· advising workers on access to social security benefits;<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>· providing specialised services to assist vulnerable work seekers;<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>· facilitating the exchange of information among labour market participants, including employers, workers and work seekers, private employment agencies, Sector Education and Training Authorities and training providers;<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>· facilitating the employment of foreign nationals in a manner that is consistent with the object of this Act and the Immigration Act; and<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>· generally, performing any other function in terms of employment law or prescribed in terms of this Act.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"As soon as you're asked to pay anything towards recruitment and related employment services know that this is likely to be a scam. If someone or an organisation requests you to pay fees, report them at Department of Employment and Labour," the department said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;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:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Namibia: Drought Relief Assistance in Full Swing<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Namibian government has embarked upon a comprehensive nationwide relief food assistance programme in all the 14 regions from 1 October 2023 to 30 June 2024.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>This is according to the recent Agricultural Inputs and Household Food Security situation report released by the Ministry of Agriculture, Water and Land Reform on drought humanitarian relief assistance.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The programme comprises foodrelief distribution, water provision and livestock support, and is targetting at least 579 000 Namibians (22% of the population) in both rural and urban areas, whose livelihoods have been affected by the drought and who do not have enough food or money to buy food, thereby faced with high levels of acute food insecurity.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The assessment report shows that most of the households' last harvest was being supplemented with the market purchases depleted between September and November 2023.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The said report further projects that a total of 695 000 people (26% of the population) will experience high levels of acute food insecurity between October 2023 and March 2024. The most affected regions are Kavango West, Kavango East, Omaheke, Ohangwena, //Kharas, Zambezi, Otjozondjupa, Khomas, Oshana, Omusati, Oshikoto and Kunene.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Furthermore, the grazing in these parts of the country is also reportedly depleted and inadequate to sustain people's livestock.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In addition to food assistance, the government has already started implementing the Livestock Support Programme in all the regions.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Most livestock conditions have been rated as poor in areas where prolonged dry spells were experienced in the previous season that affected grazing.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It was noted that at the time of the assessment, some livestock in the north-central and Zambezi areas were very weak and unable to stand, with mortalities reported because of hunger.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Meanwhile, regional councils have acknowledged receiving the drought relief food items, but complained that food allocated to the regions is limited, compared to the people in need of assistance.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Other issues hindering timely delivery and distribution of drought relief food to different constituencies includes issues related to transportation.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Meanwhile, the report has indicated that the level of<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>National Strategic Food Reserves (5NSFR) in various localities in the country are low, as the current stock is only 21% of the total holding capacity of 22 900 metric tonnes.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>-New Era.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;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:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Snap to lay off 'approximately' 10% of its staff<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Social media giant Snap, which operates Snapchat, has announced plans to cut "approximately" 10% of its staff.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The firm said in November 2023 it had 5,000 employees, suggesting around 500 people are facing redundancy.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It comes a day before Snap reports its fourth-quarter results - having reported a net loss of $368m (£294m) in the previous quarter in October 2023.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Snapchat said the move would "reduce hierarchy and promote in-person collaboration".<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"We are focused on supporting our departing team members and we are very grateful for their hard work and many contributions to Snap," a spokesperson told the BBC.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>According to its most recent annual report, more than 500 people work for the firm in the UK. It is unclear if any of the cuts will fall in the UK.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Jasmine Enberg, principle social media analyst at Insider Intelligence, told the BBC the layoffs "don't bode well for the state of Snap's business" ahead of its latest earnings announcement on Tuesday.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>She pointed to rival Meta's latest results - which showed quarterly profits tripling year-on-year, a surge in users, lower costs and higher ad sales - as "a tough act for Snap to follow".<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Snap is likely trying to garner some goodwill with investors, who rewarded its competitor for its cost-cutting measures and its continued 'do more with less' mantra going into 2024," Ms Enberg said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>She added that Snap's advertising revenues have been "slow to recover from the digital ad slowdown".<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It is the second wave of mass redundancies from the social media company, which laid off about 20% of its workers in August 2022.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Snap has attempted to expand into products beyond Snapchat, including experimenting with augmented reality (AR) glasses, dubbed Spectacles.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But the firm has been unable to find a mass market for its other products, and it subsequently closed a division that offered AR services to business customers in 2023.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The latest job cuts come as companies, including Meta and Google, have been grappling with how to balance cost-cutting measures with the need to remain competitive.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>According to layoffs.fyi, which tracks job losses in the tech sector, there were more than 232,000 job cuts in the industry in 2023.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Elsewhere, last week the firm's chief executive Evan Spiegel was grilled alongside the bosses of X (formerly Twitter), Meta, Discord and TikTok at a US Senate hearing about child safety online, where senators' attention mostly fell on Meta chief executive Mark Zuckerberg and TikTok boss Shou Zi Chew.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Mr Spiegel said in his opening testimony at the hearing that he and co-founder Bobby Murphy built Snapchat as an alternative to other social media platforms, where images shared were "permanent, public, and subject to popularity metrics".<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Supporting growth<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The redundancies were announced by the firm in a filing with the US Securities and Exchange Commission.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Snap said that the layoffs would affect staff globally, but did not specify who would be affected further.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"In order to best position our business to execute on our highest priorities, and to ensure we have the capacity to invest incrementally to support our growth over time, we have made the difficult decision to restructure our team," the firm said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In its filing, it said the cuts would be "subject to local law and consultation requirements" in each country, which could extend the process.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>And it estimated the move could cost it between $55m (£44m) and $75m (£60m) in severance payments "and other charges".-bbc<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;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:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>McDonald's sales dented by Israel-Gaza boycotts<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>McDonald's has missed a key sales target, partly due to customers boycotting the firm for its perceived support of Israel.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The fast food chain reported its first quarterly sales miss in nearly four years due to weak growth in its international business division.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Its boss previously acknowledged the impact of the conflict, blaming "misinformation".<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Shares in McDonald's fell about 4% after the announcement.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>McDonalds is one of several Western corporations including Starbucks and Coca Cola that have seen boycotts and protests against them by anti-Israeli campaigners.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The firm said that the Israel-Gaza conflict had "meaningfully impacted" performance in some overseas markets in the fourth quarter of 2023.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In the branch which includes sales in the Middle East, China and India, sales growth stood at 0.7% in the fourth quarter of 2023 - far below market expectations.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Its business in Malaysia, Indonesia and France have been affected, with the biggest impact felt in the Middle East, chief executive Chris Kempczinski said on Monday.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"So long as this war is going on... we're not expecting to see any significant improvement [in these markets]," the McDonald's boss added.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>McDonald's relies on a franchise system in which thousands of independent businesses own and operate most of its more than 40,000 stores around the world. About 5% of its outlets are located in the Middle East.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The fast food retailer drew criticism after its Israel-based franchise said it had given away thousands of free meals to members of the Israeli military, sparking calls to boycott the brand by those angered by Israel's military response in Gaza.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It prompted franchise owners in Muslim-majority countries such as Kuwait, Malaysia and Pakistan to put out statements distancing themselves from the firm.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Mr Kempczinski called the backlash "disheartening and ill-founded," and blamed it on "misinformation".<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>McDonald's hit by Israel-Gaza 'misinformation'<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Starbucks blames 'misrepresentation' after boycotts<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>McDonald's global sales grew by just under 4% in the fourth quarter, down from 8.8% in the previous quarter, and below its annual average.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The corporation benefitted from price inflation, recording its strongest sales growth in the United States, while also growing sales in the UK, Germany and Canada.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But its US business saw weaker sales growth than hoped, as customers on lower incomes ordered less food and opted for cheaper items on the menu.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Last week, Starbucks also cut its annual sales forecast, partly due to fewer customers visiting stores in the Middle East.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>McDonald's said on Monday that its thoughts were with the families and communities impacted by the conflict in the region.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It said it would "continue to stay focused on supporting our people and the local communities in which we operate".-bbc<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;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:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;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:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Arrival: Electric van maker's UK arm enters administration<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The UK-based operations of the electric van maker Arrival - a firm once championed by former Prime Minister Boris Johnson - have been placed in administration.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Arrival planned to build innovative electric vans for sale around the world.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Banbury-based business was worth £9bn just three years ago<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It had been described as the future of the UK automotive industry, but struggled to get its designs produced.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Between them, Arrival UK Ltd and Arrival Automotive employed 172 people. Nearly 40 have been made redundant, while others are being retained to assist with the sale of the business and assets.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Arrival was founded in the UK by the Russian billionaire and former government minister Denis Sverdlov in 2015.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It intended to use simple manufacturing processes to build electric vans, buses and taxes cheaply. It planned to produce them in so-called "micro-factories", which would be much smaller than traditional manufacturing plants and could be set up relatively easily.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It was launched on the Nasdaq stock market in the United States in 2021, and briefly had a valuation of $13bn (£9bn), making it the biggest ever initial stock market listing for a UK tech company at the time.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>However, despite already having received orders for 10,000 vehicles from the US distribution giant UPS, and having investment from both UPS and Hyundai, it struggled to get its designs into production.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Setbacks included a fire at its Banbury facility while one of its vans was being demonstrated in November 2022.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Early last year, Arrival said it would cut its 800-strong workforce in half and switch production from the UK to North Carolina in the United States. It still employs some 400 people globally.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>However, the company continued to struggle to raise the money it needed.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>At the end of January, the company said its shares had been suspended from trading on the Nasdaq, and it had been told they would be removed from the index.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>According to the administrator of the UK side of the business, EY, "the group's liquidity position has been impacted by a challenging market and macroeconomic conditions resulting in delays getting the group's products to market.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"As such, the joint administrators are now exploring options for the sale of the business and assets of the companies".<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Those assets include Arrival's electric vehicle designs, which will now be put up for sale.-bbc<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;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:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Boeing in ‘last chance saloon’, warns Emirates boss<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The boss of Emirates airline has warned Boeing is in the "last chance saloon", saying he had seen a "progressive decline" in its performance.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Boeing has come under scrutiny after a panel on a 737 Max 9 passenger jet blew off mid-air last month.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Emirates president Sir Tim Clark is a leading industry figure and the airline is a major Boeing customer.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He also told the Financial Times that Emirates would send its engineers to monitor Boeing's production lines.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In response to Sir Tim's remarks, Boeing pointed to comments its chief executive, Dave Calhoun, made last week, when he said: "We understand why [customers] are angry and we will work to earn their confidence."<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Emirates told the BBC it had nothing to add to what Sir Tim said in the interview.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"They have got to instil this safety culture which is second to none. They've got to get their manufacturing processes under review so there are no corners cut etc," Sir Tim said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"I'm sure Dave Calhoun and [commercial head] Stan Deal are on that... this is the last chance saloon," he added.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Sir Tim was preparing to send Emirates engineers to monitor Boeing's production lines for the first time.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He said the engineers would observe the production process of the 777 at Boeing and its supplier Spirit AeroSystems.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Boeing chief admits 'serious challenge' ahead<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Boeing's mid-air blowout puts safety record in spotlight again<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Emirates is one of Boeing's biggest customers.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In November, it placed an order for 95 wide-body Boeing 777 and 787 jets, used for long-haul flights, valued at $52bn (£41.2bn) at list prices.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But Boeing hit the headlines in recent weeks despite the Mr Calhoun insisting the company had changed since he took over after former boss Dennis Muilenburg was fired.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>On 5 January a door plug on an Alaska Airlines 737 Max 9 blew off shortly after take-off, terrifying passengers, and forcing an emergency return to the Portland, Oregon airport.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Federal Aviation Administration (FAA) launched an investigation of Boeing's manufacturing process and barred the firm from expanding production of its popular 737 Max planes.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Some of the company's biggest airline customers have also expressed concerns, noting that the issues may delay approval of new versions of the 737 Max plane, the Max 7 and Max 10, that are in the works.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In 2018, a similar incident to what happened last month occurred to an older model of Boeing 737 being operated by Southwest Airlines. Debris from an engine failure broke one of the cabin windows while the plane was travelling at 32,000ft. It resulted in one passenger being partially sucked out of the window and she died from her injuries.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The company's safety record has also been tarnished due to two crashes in late 2018 off the coast of Indonesia and in early 2019 outside Ethiopia's capital Addis Ababa.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>A total of 346 people were killed in the crashes, which were caused by flawed flight control software.-bbc<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;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:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;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:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>China can now monitor government-funded projects 24/7<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Some Chinese developers must now install monitoring equipment at their projects, under official measures which took affect this month.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The rules apply to firms that have received at least 30 million yuan ($4.2m; £3.3m) of government funding.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It comes as authorities move to support China's crisis-hit property industry.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In January, the country's housing ministry said it would offer more bailout loans to developers struggling with debt and a slowdown in demand.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Announcing the new surveillance rules in January, the National Development and Reform Commission (NDRC) said in a statement that it was moving to "regulate the implementation of projects and the use of funding".<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"These measures are important to strengthen investment supervision... and improve the effectiveness of government investment," it added.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The rules are part of the Chinese government's efforts to ensure that "funds being used to prop up struggling property developers are being used for their intended purposes," Ben Harburg from investment firm MSA Capital told the BBC.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Chinese developers have breached the trust of the Chinese government in the past by taking funds earmarked for completion of a project to pay off a coupon or even for personal use," he said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Under the measures, security devices - including surveillance cameras, drones or even satellite equipment - must be used to monitor projects, if conditions allow.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The people of China are some of the most surveilled citizens in the world. It has been estimated that half of the world's surveillance cameras are in China, amounting to hundreds of millions of the devices.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>All this is part of China's aim to build what it calls "the world's biggest camera surveillance network".<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Many of the cameras use artificial intelligence, including facial recognition technology.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>However, David Goodman, a professor of Chinese politics at The University of Sydney, said that he does not see the new rules as "creepy, though there is an element of desperation," from the authorities to oversee state-sponsored projects.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"It is likely to have some results, and some of those may even be positive towards ensuring performance and social achievement," he added.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Mareike Ohlberg, a senior fellow at the think-tank German Marshall Fund of the United States, said she "does not expect a move which is - at least in theory - geared towards monitoring how public funds are spent to generate a lot of backlash" given "widespread surveillance across the country".<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Project developers should also use other technologies like big data to detect problems quickly, according to the NDRC.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The BBC contacted several major Chinese developers - including Evergrande, Country Garden, Sunac and Longfor - for comment. None have yet responded.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Couple's property ordeal captivates Chinese internet<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The severe problems engulfing China's property market were highlighted this week as a court in Hong Kong ordered the liquidation of debt-laden developer Evergrande.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Evergrande, like many of its rivals, borrowed billions of dollars as it expanded aggressively.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>However, rules were introduced in 2020 to control the amount large real estate firms could borrow. That helped trigger a crisis, which the industry is still struggling to overcome.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>This presents a major issue for the Chinese government as the property sector accounts for roughly a quarter of the world's second largest economy.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The property sector is the bellwether for the Chinese economy. Provincial governments depended on the sector to drive employment and meet growth targets. It is critical that the Chinese government shore up this sector to diffuse some global fears," Mr Harburg said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Earlier this year, China's housing ministry announced plans to offer more bailout loans to developers "in view of the current financing difficulties of some real estate projects".<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>At the same time local governments have been asked to provide a list of projects that need support, the official newspaper of China's housing ministry reported.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Chinese lawmakers have also urged banks, which provided nearly 10 trillion yuan in loans to the property sector last year, to continue lending to struggling developers.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In January, to help free up funds to support the economy, China's central bank made the largest cut to mandatory reserves for banks in more than two years.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>A day after the move, a senior official said the financial industry had an "unshirkable responsibility" to property developers.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"For projects that are in difficulty but whose funds can be balanced, we should not blindly withdraw loans, suppress loans, or cut off loans," Xiao Yuanqi from the National Financial Regulatory Administration told a news conference in Beijing.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"We should provide greater support through extending existing loans, adjusting repayment arrangements, and adding new loans."<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Troubles in the property sector have also prevented developers from completing projects, leaving millions of vacant units scattered across the country.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The crisis has already left many home buyers waiting for their new properties, in a country in which real estate accounts for around 70% of personal wealth.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"That could affect economic growth and potentially the stability of the financial system," said Ms Ohlberg.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Beijing has previously sought to temper public concerns as people have taken to Chinese social media sites such as Weibo to share their frustrations about developers.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Housing affects social stability. If a lot of people buy properties that aren't built, that's a lot of people who will be very upset," she added.-bbc<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;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:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>One million electric cars sold in the UK since 2002<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The UK registered its one millionth electric car last month, despite a big drop in sales, new figures suggest.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>New EV registrations by private buyers fell by a quarter in January, threatening to undermine the UK's net zero promises.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Overall new car sales to private customers fell by 16% in the same period, the Society of Motor Manufacturers and Traders (SMMT) said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The figures have sparked more calls for tax cuts to boost uptake among buyers.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>More than 20,000 battery electric cars (BEVs) were registered in January, up by a fifth year on year and helped by generous tax incentives for company car users. It means that since 2002, one million of these cars have reached the road.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Fleet buyers - companies purchasing more than 25 units in one go - have been entirely behind the increase, with demand for BEVs growing by more than 40%.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Electric cars accounted for 14.7% of all new vehicles sold in the UK in January. Although that was an increase over the same month the year before, it was still well below the market share of 16.5% achieved for the whole of 2023.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The lack of sales to private buyers has prompted calls from the SMMT for the government to halve VAT on electric vehicles, in order to boost demand.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"It's taken just over 20 years to reach our million EV milestone - but with the right policies, we can double down on that success in just another two," SMMT boss Mike Hawes said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Manufacturers have been asked to supply the vehicles, we now ask government to help consumers buy the vehicles on which net zero depends," he added.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Flat electric car sales lead to calls for tax cuts<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Electric car sales to private buyers fall sharply<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>EVs have lower running costs than petrol and diesel vehicles, but the upfront price is around 30-40% higher, according to the motoring organisation.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Currently those buying an EV in the UK through a business, a company car or salary sacrifice scheme can benefit from generous tax incentives. Grants for individuals were phased out by the government in 2022.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Last year, Prime Minister Rishi Sunak confirmed a ban on new petrol and diesel car sales was being pushed back five years from 2030 to 2035.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The announcement was met with a mixed response from carmakers, many of whom have begun investing heavily in electric vehicle production.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Despite the delay in the ban, firms will still be forced to meet strict quotas for selling electric cars from January, ensuring that more than one in five cars sold are zero emission models. If not, they will face heavy fines. The target will go up each year until 2030.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>According to the latest SMMT figures, the overall new car market grew in January, pushed by a large increase in fleet sales, which were up by a third.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>This was despite a fall in overall registrations of new private cars last month, which fell by 16%.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Fleet sales accounted for more than six in 10 new cars registered in the month, up from just over half last year.-bbc<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='line-height:106%;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'>bulls@bullszimbabwe.com</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=115 id="_x0000_i1026" src="cid:image004.png@01DA58BD.534B2DB0"><!--[if gte mso 9]><xml>
<o:OLEObject Type="Embed" ProgID="PBrush" ShapeID="_x0000_i1026" DrawAspect="Content" ObjectID="_1768702476">
</o:OLEObject>
</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 2024</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=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'>CBZH<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'>GetBucks<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'>EcoCash<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'>Padenga<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'>Econet<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'>RTG<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'>Fidelity<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'>TSL<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'>FMHL<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@01DA58BD.534B2DB0"></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 s believed to be reliable, but no representation or warranty is made or guarantee given as to its accuracy or completeness. All opinions expressed and recommendations made are subject to change without notice. Securities or financial instruments mentioned herein may not be suitable for all investors. Securities of emerging and mid-size growth companies typically involve a higher degree of risk and more volatility than the securities of more established companies. Neither Faith Capital nor any other member of Bulls ‘n Bears nor any other person, accepts any liability whatsoever for any loss howsoever arising from any use of this report or its contents or otherwise arising in connection therewith. Recipients of this report shall be solely responsible for making their own independent investigation into the business, financial condition and future prospects of any companies referred to in this report. Other Indices quoted herein are for guideline purposes only and d from third parties.</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) 2024 <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'>bulls@bullszimbabwe.com</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>