Buhari holds meeting with APC stakeholders
As a follow-up to his earlier meeting with the APC governors on Tuesday, May 31, President Muhammadu Buhari hosted the party’s stakeholders and the national caucus of the party to dinner for another round of the all-important meeting.
The objective this time is to arrive at a consensus candidate who will fly the flag of the party in the forthcoming presidential election.
With all the drama happening before the all-important election slated to be held today and tomorrow, the president, who is considered the father of the party, wants the party to present a formidable candidate who can challenge Atiku Abubakar of the PDP and Peter Obi of the Labour Party.
In attendance at the dinner were the national chairman of the APC, Senator Abdullahi Adamu; former national chairmen, Bisi Akande, and John Odigie-Oyegun, who now represents the party as the party’s Secretary, and some APC governors.
11 die in Kenya after overloaded minibus veers off road
Eleven people were killed and eight others injured when an overloaded minibus veered off a busy road and rolled several times in eastern Kenya on Saturday evening, an official confirmed on Sunday.
The accident occurred at around 11:00 p.m. in Kanyonyo, an area in Kitui county, when the 14-seater, known locally as matatu, veered off the Machakos-Kitui road while its driver tried to overtake another vehicle.
Rebecca Ndirangu, deputy county commissioner for Lower Yatta, said nine of those onboard the minibus died on the spot while two others succumbed to their injuries while undergoing treatment in hospital.
The matatu driver fled the scene after the “self-involved” accident, Ndirangu said over the phone.
An estimated 3,000 Kenyans die in road accidents annually, according to the National Transport Safety Authority.
Ivorian economist Jean-Claude Brou nominated as West Africa central bank governor
The race to appoint a successor from the Francophone-speaking part of West Africa to take over from Tiemoko Meyliet Kone has come to an end with the appointment of Ivorian economist Jean-Claude Brou.
The accomplished public servant with vast experience in public policy formulation and in-depth knowledge of regional economic and financial matters was yesterday nominated by the Ivorian President, Alassane Ouattara, to take over from Tiemoko Meyliet Kone, who many believe is being groomed to become the next president of the country.
Until this nomination was the president of the Economic Community of West African States (ECOWAS) commission since 2018.
According to some reliable sources, validation from other members of the board is expected in the coming days, Reuters reported.
The sub-regional bank represents French-speaking countries within the West African sub-region; countries whose currency is the CFA.
Crude oil prices shoot above $120 following Saudi Arabia stunt
According to tradingeconomics, the West Texas Intermediate (WTI) crude futures shot above the $120 price mark this morning after Saudi Arabia “sharply” raised prices for its crude sales in July.
This price is the highest it has reached in 10 years, providing an opportunity for OPEC+ countries to enjoy increased revenue during this period of uncertainty created by the Russia-Ukraine war.
Despite promises by the OPEC+ members to increase oil production to help address the price increases, Saudi Arabia raised the selling price for its Arab Light crude scheduled for dispatch to its Asian market and northwest Europe.
However, some oil market analysts who expressed concern over the ability of some OPEC+ members to meet promised production quotas expect the gains due to the Saudi double standard to continue.
With job numbers in the United States gradually returning to pre-pandemic levels and China relaxing its COVID-19 restrictions, the market expects OPEC+ to meet its August pledge of 648,000 barrels per day, or 50% more production quota.
Stocks displays mixed reaction amid global rate pressures
Major stock markets reacted differently amid rate pressures from monetary policy authorities in the major economic capitals of the world. This morning, stocks in Asia edged lower after better than expected job numbers from the non-farm payroll of the US government boosted the Federal Reserve to maintain its rate stance against inflation.
The Asian stock market was also reacting positively to news of the eurozone preparing to withdraw the COVID-19 stimulus, which would automatically open the door to increased trade activity between both continents without unfair trade advantage.
However, equities slipped in Japan and Australia. Bloomberg reported that “US contracts fluctuated after the SP 500 retreated for an eighth week in a row.”
Shares traded on the Shanghai stock exchange and Hong Kong stock exchange (HKEX) returned to the green zone after Beijing eased off some of the COVID-19 restrictions.
Chidinma Raphael 1 y
Cool article