Monday 30 January 2017
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Chief Executive Officers (CEOs) worldwide are confident in their growth prospects and their outlook for the global economy to rise, despite their concern about new risks and economic uncertainty, a report by PriceWaterhouseCoopers (PwC), has said.
Findings of PwC’s 20th yearly survey of CEOs worldwide said 38 per cent (2016: 35 per cent) of CEOs are very confident about their company’s growth prospects in the next 12 months, while 29 per cent of them (2016:27 per cent) believe global economic growth will pick up this year.
The findings released at the just-concluded World Economic Forum in Davos, Switzerland showed that while business leaders are more positive in their outlook, their levels of concern about economic uncertainty is at 82 per cent.
The report of the survey, which was carried out between September and December last year, showed that while the CEOs’ concerns about over-regulation and lack of key skills are at record levels of 80 per cent and 77 per cent, worries about protectionism are growing, with 59 per cent of CEOs’ expressed concern about protectionism increasing to 64 per cent for in the United States and Mexico.
Although positive on the benefits of globalisation in building the free movement of capital, goods, and people, CEOs questioned what globalisation has done to close the gap between rich and poor or mitigated the issue of climate change. This is in contrast to the first PwC CEO survey in 1998 when CEOs were positive about the drivers of globalisation.
On the reports, its Global Chairman, Mr. Bob Moritz said: “Despite a tumultuous 2016, CEO confidence is moving back up –albeit slowly and still a long way from the levels we saw back in 2007.
“But there are signs of optimism right across the globe, including in the UK and US, where despite predictions of a Trump slump and a Brexit exit, CEOs confidence in their company’s growth are up from 2016. And that mood is reflected elsewhere, with more CEOs across the world targeting the US and UK for investment than a year ago.”
While noting that CEOs are more confident in the opportunity for growth, Moritz said “this year they told us these three concerns that were top of mind: a people and technology strategy that creates a workforce fit for the digital age; preserving trust in their businesses in a world of increasingly virtual interactions; and making globalisation work for everyone by engaging ever more with society and collaborating to find solutions.”
The report said in sharp contrast to last year, CEOs confidence in their own one year revenue growth is on the rise in nearly every major country across the world…with India (71per cent), Brazil, where confidence levels have more than doubled (57 per cent), Australia (43 per cent) and the UK (41per cent) topping the table.”
Confidence also rose by 11 points in China to 35 per cent, six points in the US to 39 per cent and three points in Germany to 31 per cent. In Switzerland confidence levels have more than doubled to 34 per cent. Bucking the confidence trend are Spain, Mexico and Japan where confidence levels have dropped, markedly so in Japan where confidence has plunged from 28b per cent in 2016 to 14 per cent today.
Posted by Editor. at 19:49
The Central Bank of Nigeria (CBN) has defended its foreign exchange policies, and faulted the continued and unwarranted attack on its policies by a group of Nigerians, whose real interests, it said were self-serving and unpatriotic.
In a statement, CBN spokesman, Isaac Okorafor, said: “While we respect the rights of every Nigerian or stakeholder to their respective views, we find it curious that certain interests have remained persistent in their move to misinform the larger public, with the intention of discrediting genuine efforts at managing the economy, thereby creating public distrust and panic within the financial system.”
Continuing, he said the self-centered individuals, who have failed to assail our patriotic position, have resorted to the sponsorship of serial propaganda to misinform and mislead the public on the objectives of our policies.
“Intelligence reports at the disposal of the bank reveal the involvement of some unpatriotic elements funding the push to have the CBN and the Federal Government reverse its forex policy, which is aimed at conserving foreign exchange, stimulating agriculture and manufacturing and also promoting exports.
“The present economic challenges that we face have been worsened by our past practice of frittering away huge earnings made from oil sales, over the years. As we have explained severally, our decisions on forex management are prompted by the challenge posed by the level of depletion of the country’s reserves, arising from issues such as a drastic reduction in oil earnings, speculative attacks and round tripping.
“It is pertinent to note that pressures on the country’s foreign reserves have persisted due to a huge fall in the monthly foreign earnings, which fell from over $3.2 billion sometime in 2013 to below $500 million per month sometime in 2016, when the demand for the US dollar, particularly by importers, continued to rise considerably. In spite of the challenges and the basic economic fact that countries earn dollars from international trade, we have ensured we meet the genuine demand of importers to pay for eligible imports and other transactions within available resources,” he said.
Okorafor said the CBN will continue to ensure monetary and price stability as well as maintain external reserves to safeguard the international value of the naira.
“While leaving our doors open for genuine partnership with all our stakeholders, we will only take economic decisions that will impact positively on the lives of all Nigerians. We therefore urge all concerned to be more patriotic and contribute to the soundness of the Nigerian economy; rather than engage in acts capable of undermining the efforts being made at moving the country out of the current economic situation,” he said.
Posted by Editor. at 19:39
Arsene Wenger believes Arsenal’s squad strength means he has no need to make any last-ditch signings in the January transfer window.
The Gunners, who thrashed top-flight rivals Southampton 5-0 in the fourth round of the FA Cup on Saturday, are second in the Premier League.
A sign of their strength in depth was that veteran French manager Wenger, in charge of Arsenal since September 1996, was able to make several changes to his starting line-up against the Saints.
Theo Walcott scored a hat-trick against his former club, with Danny Welbeck adding the Gunners’ other two goals as Wenger rested the likes of Petr Cech, Laurent Koscielny, Mesut Ozil and Alexis Sanchez.
Those four players are all set to return for Tuesday’s league match against Watford, where Arsenal will look to close an eight-point gap to leaders Chelsea.
Wenger, who will be serving the second of a four-match touchline ban against the Hornets at the Emirates, told Arsenal fans not to expect any new arrivals between now and Tuesday’s 2300 GMT transfer deadline.
“It’s not only to buy players, you have to have a need in your squad first of all,” said Wenger. “I believe that number-wise and quality-wise, we have what is required to do well.
“Now it’s down to us to perform and to produce with the quality of our focus, the quality of our ambition and desire to produce the performance in every single game.”
The only player Arsenal have brought in during the transfer window is 20-year-old defender Cohen Bramall, who joined from non-league Hednesford Town for £40,000 (46,000 euros, $48,500).
And Wenger forecast there would be few moves elsewhere before the transfer window shut. “(It will be) very quiet. On our front, we have a big squad,” he said. “We are not in need of buying.
“On a general front it has been very quiet. That shows that there are not many players available who can strengthen English teams. “It also shows that all the teams in England, especially the big teams, have big squads.
That’s why not a lot happened.” Real Madrid forward Karim Benzema has been linked with a move to north London side Arsenal but only “because he is French,” said Wenger.
“And maybe there are some noises that he would leave Madrid, but as I just told you, there is no need for us to buy any strikers,” he added. “In the summer window? That’s not my worry at the moment. My worry is the next game against Watford.”
Chelsea manager Antonio Conte wants his Premier League leaders to inflict the “hard hit” of defeat upon Liverpool when the sides meet at Anfield on Tuesday.
Conte’s men are currently 10 points in front of Liverpool, who have won just once in eight games in all competitions this month.
While accepting that there will be 15 league games for both clubs after Tuesday’s match, Conte believes a Chelsea win would deal a huge blow to the title hopes of a Liverpool side who won 2-1 at Stamford Bridge in September — one of just the Blues’ three league defeats so far this term. “
It could be a hard hit mentally for them (if Liverpool lose to Chelsea),” said Conte on Monday.
“It’s important to win this type of game, increase your confidence, take three points from a rival,” added Conte, who took charge after coaching his native Italy at last year’s European Championship.
“I hope to change the result if you compare the first game and the first part of the season.”
Chelsea’s loss to Liverpool was compounded with a defeat by London rivals Arsenal — the Blues’ visitors at Stamford Bridge on Saturday.
Arsenal are currently Chelsea’s closest title challengers, with Arsene Wenger’s men presently eight points off top spot in second place.
“It’s a very important week, but also I know after two of these games we have 14 games to finish the championship,” said Conte. “
The results are important, but the championship doesn’t finish after these two games.” Having let Chelsea play with a back four at the start of his time with the west London club, defeat by Arsenal led Conte to revert to his favoured 3-4-3 formation.
Chelsea then embarked upon a 13-match winning streak in the Premier League which only ended at Tottenham Hotspur, another London side, on January 4. “
Honestly, I think we are a different team, not Liverpool. I think that we grew a lot,” Conte said. “After the game (against Liverpool) I said ‘today we faced a great team, a really great team, but today we are not a team. Only through work we can improve to become a team’.
I think it happened. “We grew a lot and for this reason now we are top of the table. “It’s incredible this, because it’s not easy to have two defeats against Liverpool and Arsenal and to find the strength to start and to arrive top of the table and to have 13 wins in a row.”
Abuja – Some Nigerian celebrities, say they will boycott the planned anti-government protest by award winning musician Tuface, also known as 2baba.
Tuface, the African Queen crooner recently took to his Instagram handle: @official2baba, calling on his fans and followers to join in the nationwide protest scheduled for February 5. He stated: “First Massive Nationwide Protests’’.
“A call for good governance. A call for urgent explanation into the reckless economic downturn nationwide….to come out and protest this obnoxious and baseless policies and excuses of the government of the day.”
Reacting, popular comedian, Bovi Ugboma said he would not join the protest. Bovi on his Instagram handle: @officialBovi stated, “Boycott” is too strong a word to describe my not attending. I won’t be there. Simple. It doesn’t define whether I support it or not. “I am not joining the protest, and stop saying ‘we’ and ‘us.’ You don’t belong…..my life is not governed by your opinions of me.
Tuface, real name Innocent Ujah Idibia, is also a producer, entrepreneur and one of the most decorated and successful Afro pop artists in Africa. Similarly, popular Yoruba actress, Funke Adesiyan who disagreed with 2face over the plan said that protest was not the only option.
The actress, who recently completed a course in film-making and directing at the New York Film Academy in the U.S, stressed the importance of youth participation in governance.
The Yoruba actress of Ibadan origin who contested and lost Oyo State House of assembly election under the umbrella of PDP in 2015, stated on her instagram handle @funkeadesiyan: “When people ask me why I joined politics, I tell them from the truest of my heart that it is because I got tired of how things were being done in my country. “It’s not enough for us to protest, it’s more important for us, youths of this beloved nation, to get involved in governance.
You could try many times before you achieve it,” Adesiyan stated. Tuface started his music career while studying at Institute of Management Technology (IMT) Enugu where he recorded several jingles for Enugu state radio broadcasting station. His professional career did not begin until he moved to Lagos where he met other members of the rested Plantashun Boyz group, comprising Black Face and Faze in 1996.
Idibia has received several awards including MTV Europe Music Award, world Music Award, Headies Awards (Hip-hop award), and Channel O Music Video Awards. Others are BET awards for his musical work, MTV Africa Music Awards, MOBO award, KORA award among others.
Posted by Editor. at 19:04
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