TheNewsGuru

Tag: United States

  • Oil Markets Rebound as Traders Seek Cover, but US Debt Concerns Limit Gains

    Oil Markets Rebound as Traders Seek Cover, but US Debt Concerns Limit Gains

    In early Asian trade on Friday, oil markets made a partial recovery as traders engaged in short-covering activities before the weekend.

    However, the gains were limited by uncertainties surrounding the U.S. debt ceiling and renewed fears of a regional banking crisis in the United States.

    Interestingly, the oil market largely disregarded the global oil demand forecast for 2023 issued by the Organization of the Petroleum Exporting Countries (OPEC).

    The forecast projected an increase in oil demand from China, the world’s largest oil importer.

    Despite this positive outlook, market participants seemed to focus more on the immediate uncertainties and potential risks, leading them to overlook the optimistic long-term projections.

    Brent crude futures experienced an increase of 36 cents, or 0.5 per cent, reaching $75.34 per barrel by 0051 GMT. Similarly, U.S. crude futures gained 41 cents, or 0.6 per cent, reaching $71.28 per barrel.

    These price movements indicate a rebound from the losses of approximately 3-4 per cent incurred over the past two trading sessions.

    Despite the recovery, both benchmarks were on track for minimal changes for the week, following three consecutive weeks of decline.

    The U.S. government has expressed its intention to purchase oil when prices consistently remain at or below the range of $67 to $72 per barrel. This statement adds another layer of uncertainty to the market, contributing to cautious investor sentiment.

    Investor caution persists due to uncertainties surrounding the U.S. debt ceiling and fears of a regional banking crisis. Additionally, concerns about weak demand in China contribute to the cautious sentiment.

    China’s April consumer price data shows slower growth than expected, and factory gate deflation worsens, indicating the need for additional stimulus to bolster the post-COVID-19 economic recovery, which remains uneven.

  • Sudanese bloodbath: Rivals agree to 72-hour ceasefire

    Sudanese bloodbath: Rivals agree to 72-hour ceasefire

    The United States Secretary of State Antony Blinken said that Sudan’s warring generals had agreed to a three-day ceasefire starting Tuesday (2200 GMT Monday), after previous bids to pause the conflict quickly disintegrated.

    “Following intense negotiation over the past 48 hours, the Sudanese Armed Forces (SAF) and the Rapid Support Forces (RSF) have agreed to implement a nationwide ceasefire starting at midnight on April 24, to last for 72 hours,” Blinken said in a statement two hours before the truce was to go into effect.

    “During this period, the United States urges the SAF and RSF to immediately and fully uphold the ceasefire,” Blinken said.

    Blinken said that the United States was also working with partners to set up a committee that would negotiate a permanent ceasefire in Sudan, where the conflict between rival generals descended into deadly violence 10 days ago

  • Alamieyeseigha’s $954,000 loot to be returned by US govt

    Alamieyeseigha’s $954,000 loot to be returned by US govt

    The United States and the Federal Government have signed an agreement to reinstate $954,000 allegedly stolen by a former governor of Bayelsa State, Diepreye Alamieyeseigha.

    The agreement was signed on Thursday in Abuja by the US Ambassador to Nigeria, Mary Leonard, and the Solicitor-General of the Federation and Permanent Secretary of the Ministry of Justice, Beatrice Jedy-Agba.

    Recall that one of the albatrosses of the Goodluck Jonathan administration was the granting of a state pardon to the convicted late governor of Bayelsa State (Alamieyeseigha).

    TheNewsGuru.com (TNG) reports that Jonathan was the deputy to Alamieyeseigha when he was governor of Bayelsa.

    Alamieyeseigha, who died in 2015, was convicted for money laundering related charges.

    Alamieyeseigha's $954,000 loot to be returned by US govt

    On March 12, 2013, Jonathan pardoned Alamieyeseigha. The state pardon elicited a barrage of criticism against him (Jonathan).

    But in his new book, “My Transition Hours”, Jonathan explained that the decision to pardon Alamieyeseigha was reached by his predecessor, Umaru Yar’Adua, who could not announce it before he died.

    He explained that in pardoning Alamieyeseigha, he merely honoured an agreement reached by his late boss.

    “Let me say that after we came to office on May 29, 2007, two major issues that we had to grapple with were the peace process in the Niger Delta and growing menace of terrorism, driven largely by the radical Islamic terror group Jamā’at Ahl as-Sunnah lid-Da’wah wa’l-Jihād popularly known as Boko Haram.

    “First, our oil production figures were ebbing due to militant activities in the Niger Delta. The federation distributable accrual was dwindling drastically when we took over due to the crisis in the region and president Yar’Adua in seeking urgent solution to increase the revenues of the federation offered amnesty to the militant. One of their demands was that Alamieyeseigha be released from detention and pardoned by president Yar’Adua.

    “He accepted their term mandated me to ensure that my former boss accepted a plea bargain and call the militant to order. President Yar’Adua promised to grant Alamieyeseigha state pardon if all parties were brought on board to the negotiation table to restore peace in the region.

    Alamieyeseigha's $954,000 loot to be returned by US govt

    “I immediately carried out his instruction. Unfortunately, he passed on before completely fulfilling his promise. When I became president, I granted late Alamieyeseigha a state pardon, in fulfilment of late President Yar’Adua’s earlier commitment.

    “Unfortunately, this was frowned upon by some of my strongest critics and some went berserk and haul all manners of insults at me, including accusing me of being ‘clannish’ for granting state pardon to the former governor because he was from Bayelsa State.

    “Alamieyeseigha’s pardon like every other goodwill gesture I had made, soon become a tool to be used against me by the opposition,” Jonathan wrote.

  • 2023 Elections: US clears air on the candidate it’s supporting

    2023 Elections: US clears air on the candidate it’s supporting

    The United States Government has revealed that it has no plans to support any candidate or back any individual candidate or party in the forthcoming general elections in the country.

    The American government has revealed that it would stay neutral and watch proceedings from its base.

    Molly Phee, U.S. Assistant Secretary of States for African Affairs, made this known on Wednesday, in Abuja.

    “Here in Nigeria, it is my impression that the fundamentals here are very strong and President Buhari has made it very clear that he would not seek a third term and that he views an important legacy of his time and tenure as President to be a peaceful transition of power.

    “In December, when the United States hosted the African Leaders Summit, President Biden invited a select number of Heads of State to the White House including President Buhari to discuss upcoming elections in 2023.

    “In that meeting, they discussed the importance and challenges of how to arrange a free and fair election that will result in a credible outcome, and how to ensure that the process is peaceful.

    “Last year, your government enacted electoral reforms which are very positive and have contributed, I believe to a credible electoral process

    “As we have learnt in the United States, successful elections require everyone to contribute, that is why as I earlier said, it is important for all Nigerians to act responsibly, and vote their conscience.

    “It is my understanding that Nigerians have confidence in this electoral system and they should vote with confidence that their votes will count,” Phee said.

  • Grammy Award winning American singer, Pointer dies at 74

    Grammy Award winning American singer, Pointer dies at 74

    Grammy-winner Anita Pointer of The Pointer Sisters gave up the ghost after a long battle with cancer on Saturday in the United States.

    Pointer passed away at the age of 74 her publicist confirmed.

    The singer died on Saturday, New Year’s Eve, at her home in Los Angeles, United States, where she was surrounded by family.

    According to a statement on Instagram on Sunday, Pointer’s family announced her death, confirming that the Grammy Award winner died after a heroic battle with cancer.”

    “While we are deeply saddened by her death, we are comforted in knowing she is now with her sisters, June & Bonnie and her daughter, Jada. Heaven is a more beautiful , loving place with Anita there,” it added.

    Anita was one of the founding members of the R&B group The Pointer Sisters, who delighted fans all over the world with hits including I’m So Excited, Jump and Fire.’

    Along with sisters Ruth and June, the group from Oakland, California, released its first album in 1973 before winning three Grammy awards.

  • Seven key takeaways from Buhari’s visit to United States

    Seven key takeaways from Buhari’s visit to United States

    By Garba Shehu

    In the first in-person meeting with the American President Joe Biden, President Buhari established a personal equation with his US counterpart and got an important recognition for his democratic credentials and activism at home in particular, and Africa in general: “your legacy is a model,” says President Biden. There was a perfect meeting of minds.

    This, coming from the remaining superpower still standing and the guardian and promoter of the values of democracy all over the world,  is a  major milestone as the President braces up to give the country its most open, most free and most fair elections in February next year.

    Equally, it speaks to the fact the world is interested in what happens here and they are watching. Everyone is watching what happens in Nigeria and our politicians must watch their steps. President Buhari has cleared himself. He is doing all that is required of him to deliver free and fair elections, leading to the emergence of his successor in May next year.

    Beyond the symbolism of the one-on-one meeting and their sitting together to watch the Morocco-Argentina World Cup semi-final, an incident that grabbed the attention of the world soon as it took place, Biden’s recognition of President Buhari as continental champion of democracy will come with admirable dividends.

    One, the fact of the acceptance by the two leaders that we share with each other the values of democracy and human rights; that we are on the same page in regard to these values is indicative of deep ties between our two nations, working together to uphold free and fair elections, an important condition for democracy in Nigeria, West Africa and the rest of the continent.

    In this context, the Biden promise to work for a permanent “G20” seat for Africa may, if all continues to work well between our two nations, lead to Nigeria earning a place in the all-important intergovernmental forum comprising 19 countries and the European Union, and possibly thereafter, a “G7” place and-wait for it-a Permanent Seat on the United Nations Security Council!

    Nigeria’s strategic partnership with the US is important if a choice is to be made.

    Two. On the very important issue of peace and security of the continent, a key agenda item in the Biden-Africa summit, President Buhari was asked to lead. It is a recognition of Nigeria as the very important voice for Africa.

    After President Buhari finished with his speech on AU Agenda 2063, essentially speaking about the defined goals of peace and security on the continent, President Biden left the meeting.

    Three. President Buhari spoke at the US Peace Institute. It is interesting that the President spoke at the Institute in 2015 at the commencement of his first term and was coming to do so when the curtains are about being drawn on his second term tenure.

    Who invited him to speak at both points? It’s Ambassador Johnnie Carson, the diplomat and politician who was an Obama-era cabinet member and a friend of Nigeria who, not only extolled the virtues of President Buhari but played up the role of the administration in attaining a strategic partnership with the US.

    Amb. Carson has just been named by President Biden to coordinate the follow up of the decisions on the just-concluded Summit. In this regard, it is not out of place to expect Nigeria drawing substantially from the USD 55 billion the Biden administration has put in the basket for Africa to draw from.

    Four. President Buhari, who has been waging a global battle for the survival of gas, Nigeria’s abundant resource as a transition energy from fossil fuels that are being blacklisted for causing global climate degradation, found the right place to take his case to, and it is getting a traction. With the US supporting Nigeria, President Buhari is building a consensus for our well-articulated energy transition plan that has gas a transition energy.

    Five. Following the successful CEOs’ roundtable and interactions with businesses at US-Africa Civil and Commercial Space Forum and  Corporate Council on Africa-Nigeria Business and Investment Forum, US businesses reaffirmed their confidence and reinforced their commitment to deepening their business interests in Nigeria.

    Six. President Buhari presented a refocused roadmap clearly showing Nigeria’s commitment for a safer and healthier global climate, highlighting the country’s updated Nationally Determined Contribution (NDC).

    He has prepared a ready-to-go blueprint for whoever succeeds him; a plan that has earned the respect of the US government, paving the way for a partnership to address conservation, climate adaptation and a just energy transition based on shared objectives.

    Government plans to prepare well to draw substantially from the proposed US funding and from CocaCola Foundation which has indicated interest in their participation in our climate change and renewable energy plans.

    In line with the plan to address clean and reliable energy supply, creating jobs and ensuring knowledge and technology transfer, the government of Nigeria and a US company Sun Africa LLC, signed a major agreement, right there before the representatives of Mr. Biden for the “development, engineering, procurement and construction” of 5,000 MW of solar generation and 2,500 MWh of battery energy storage power plants for up $10 billion investment from the US government.

    The project portfolio location and size indicates the beneficiary states as including Yobe, Bauchi, Gombe,  Adamawa, Jigawa, Nassarawa, Benue, Kogi, Katsina, Kaduna, Kano, Kebbi, FCT, Kwara, Edo and Akwa Ibom. Megawatts of power availability ranges from 24, the lowest to 350, the highest.

    In addition, 360 rural communities across the 36 states are to benefit from solar mini grids electrification infrastructure and smart meters.

    Seven. While there are several crucial outcomes from the visit, I am excited to report that between President Biden and President Buhari, there is a perfect meeting of minds. While President Buhari was full of commendation for the leadership of Biden on global issues, it emerged clearly from these interactions that the two leaders share a common vision on democracy, human rights and the important role in Africa that Nigeria is playing. Nigeria is crucial to Biden and he seemed pleased that he found in President Buhari, an African role model. He held back nothing in showering encomiums upon him for especially sticking to two stipulated terms in office.

    With impressive accomplishments trailing the seven-day visit, President Buhari has wetted the ground for whoever will be the next President from May next year. It will be in the nation’s interest to build on where the current President stops.

     

    Garba Shehu is Senior Special Assistant to the President, Media and Publicity.

  • U.S. seeks to win over Africa as China records $254 billion trade in 2021

    U.S. seeks to win over Africa as China records $254 billion trade in 2021

    President Joe Biden will host the second United States-Africa Leaders Summit in Washington DC next week to reinforce the US-Africa commitment to democracy; mitigate the impact of Covid, respond to the climate crisis and amplify diaspora ties.

    Some 50 African leaders are expected to attend the two-day conference, which starts on December 13.

    Senior policymakers say talks will focus on economic engagement, human rights, food security and climate, with an emphasis on partnerships that demonstrate an intention to go beyond strategic geo-political interest.

    The White House will also seek to offer reassurance to African governments concerned by a perceived decline in relations with the US.

    A former under-secretary at the US Department of Commerce Gilbert Kaplan, said the key objective of this conference “should really be to enhance trust between African leaders and the United States”.

    “Africa is faced with some of the biggest governance challenges on the globe,” President of the Cameroon People’s Party and the first woman in the nation’s history to run as a presidential candidate in 2011 Kah Walla said.

    “We need government that is functional, competent and innovative, and what we are getting instead is the US and a global international system that is supporting autocratic and dysfunctional governments. We can’t continue in this way,” she added.

    Africa’s 54 nation states span six time zones and the continent’s population of 1.4 billion is on course to make up a quarter of the global population by 2050.

    It boasts the youngest demographic in the world, a potentially huge labour resource for private sector investors seeking to expand in manufacturing and processing

    But despite the continent’s tremendous economic potential, the US has lost substantial ground to traditional and emerging partners, especially China which surpassed the US as Africa’s largest trade partner in 2009, with total bilateral trade reaching more than $254 billion in 2021, a 35 per cent rise on 2020.

    A member of the World Economic Forum’s Regional Action Group for Africa Landry Signé, told a Senate subcommittee on Africa last year that while recent trends indicate that the US engagement with the region has cooled down, “it has not and should not cede its relationship with the region to other powers”.

    The first United States-Africa Leaders Summit was held by President Barack Obama in 2014.

  • Nancy Pelosi’s husband attacked in San Francisco, United States

    Nancy Pelosi’s husband attacked in San Francisco, United States

    Mr. Pelosi husband of the United States  House of  Representatives Speaker  Nancy Pelosi was on Friday attacked after an intruder broke into their home in San Francisco her office said.

    Mr. Pelosi is presently receiving treatment in an undisclosed hospital.

    This was made known by the Democratic leader in the house on Friday.

    “Early this morning, an assailant broke into the Pelosi residence in San Francisco and violently assaulted Mr. Pelosi,” the Democratic leader’s spokesman Drew Hammill said in a statement.

    The statement reads “The assailant is in custody and the motivation for the attack is under investigation. Mr. Pelosi was taken to the hospital, where he is receiving excellent medical care and is expected to make a full recovery.”

    It was not immediately clear if the attack was politically motivated. The Speaker, who is second in line to the Presidency, was not in San Francisco at the time.

    The attack caps a tumultuous year for her 82-year-old venture capitalist husband, who was convicted of drunk driving after an accident in May and sentenced to five days in jail.

    “The speaker and her family are grateful to the first responders and medical professionals involved, and request privacy at this time,” Hammill said.

  • India 2022: Flamingos break Quarter-final jinx, beat United States

    India 2022: Flamingos break Quarter-final jinx, beat United States

    Nigeria’s Flamingos have finally broken the quarter-final jinx at the FIFA U-17 Female WorldCup after beating the United States 4-3 penalties in Mumbai.

    It was a very tough encounter for coach Bankole Olowookere and his wards, as the American girls gave the Flamingos a serious challenge in this match.

    Nigeria opened scoring in the first half of the encounter with Omamuzo Edafe, scoring from the penalty spot, the American teenagers equalized few minutes through Amalia Villarreal after to level things up at 1-1.

    Both sides failed to add to the tally as it ended 1-1 in full time.

    However there is no extra time at the U-17 level as the match went straight into penalty shoot-out.

    The Americans missed their first penalty but scored three more in the shoot out, the Nigerian ladies scored four in the shoot -out to edge out from the tournament.

    Nigeria await the winner of the encounter between Colombia and  Tanzania in the tournament.

     

     

  • Show promoter calls out Portable over his attitude at Embassy that ruined his travel to US

    Show promoter calls out Portable over his attitude at Embassy that ruined his travel to US

    Controversial music star, Habeeb Okikiola, aka Portable, has been denied an entry Visa into the United States for addressing consulate officials in Yoruba language, according to a show promoter who posted a rant video on her Instagram page.

    In the video, the female show promoter claimed she invested so much money to put the event together, only for Portable to ruin it with his display at the embassy, which made officials deny him Visa.

    According to the show promoter, she had invited the Zazoo crooner to the United States. Still, when he visited the embassy, he was only speaking Yoruba which made his visa application to be denied.

    She stated that she had spent a lot trying to bring the singer to the States and is now deep in debt over his inability to show up.

    The lady called on Portable to refund her money for tickets and console attendees who had been hoping to see the superstar.

    Show promoter calls out Portable over his attitude at Embassy that ruined his travel to US

    TheNewsGuru.com reports that during Portable’s early stage of fame, he was well known for calling out his business partners on social media, claiming they scammed him on business deals such as artist management.

    He became famous after contributing to the song “ZaZoo Zehh” featuring Olamide and Nigerian dancer Poco Lee.

    On 18 July 2022, Portable made a video on Instagram claiming to be the founder of the notorious cult group One Million Boys, which got Nigerians’ attention in order for an investigation by the Nigeria Police Force, which he later denied saying what he meant was one million followers.

    This led to his disqualification for The Headies 2022 which was announced by the organizers on 26 July 2022.