NNPC Calls for Passage of PIB

[Premium Times] The Nigerian National Petroleum Corporation, NNPC, has urged the National Assembly to pass the Petroleum Industry Bill (PIB) into law.

[Premium Times] The Nigerian National Petroleum Corporation, NNPC, has urged the National Assembly to pass the Petroleum Industry Bill (PIB) into law.

source: AllAfrica News: Nigeria

Envoy Upset As Mugabe Spokesperson Alleges EU Mischief

[New Zimbabwe] THE European Union (EU) head of delegation in Zimbabwe, Philippe Van Damme, said he was “upset” by how a recent injection of fresh funds into the NGO sector by Brussels was “interpreted”.

[New Zimbabwe] THE European Union (EU) head of delegation in Zimbabwe, Philippe Van Damme, said he was "upset" by how a recent injection of fresh funds into the NGO sector by Brussels was "interpreted".

source: AllAfrica News: Zimbabwe

Opposition Politician Mujuru Says Its ‘Now My Time’

[New Zimbabwe] FORMER Vice President Joice Mujuru says Zimbabweans “know exactly” how she “relates to issues that affect them” and can now “see” that it is her “time and chance” to lead.

[New Zimbabwe] FORMER Vice President Joice Mujuru says Zimbabweans "know exactly" how she "relates to issues that affect them" and can now "see" that it is her "time and chance" to lead.

source: AllAfrica News: Zimbabwe

Pres. Lungu Fetes Victorious Under-20

President Edgar Lungu will host a luncheon for the victorious U-20 football team on Wednesday. Zambia lifted the 2017 Total U-20 Africa Cup of Nations after beating Senegal 2-0 in the finals. The team will also be among four African … Continued

The post Pres. Lungu Fetes Victorious Under-20 appeared first on Zambia Reports.

President Edgar Lungu will host a luncheon for the victorious U-20 football team on Wednesday. Zambia lifted the 2017 Total U-20 Africa Cup of Nations after beating Senegal 2-0 in the finals. The team will also be among four African teams that will represent Africa at the FIFA World Cup in South Korea. Africa will be represented by Zambia, Guinea, Senegal and South Africa. STATE HOUSE OFFICIAL STATEMENT Lusaka, Monday, 13.03.17—In honour of the victorious Under-20 National Team, His Excellency Mr Edgar Chagwa Lungu, President of the Republic of Zambia will this Wednesday hold a State Luncheon for the team and the Football Association of Zambia. The lunch will take place at 13:30 pm at State House. Amos Chanda State House Spokesperson The post Pres. Lungu Fetes Victorious Under-20 appeared first on Zambia Reports.

source: Zambia Reports

Trauma Centre Owner Solanki in Storm Over Expat Doctors

[The Herald] A storm is brewing between Trauma Centre owner Dr Vivek Solanki and the Medicines and Dental Practitioners Council of Zimbabwe (MDPCZ) on the status of foreign doctors who were recently arrested at the private health institution for workin…

[The Herald] A storm is brewing between Trauma Centre owner Dr Vivek Solanki and the Medicines and Dental Practitioners Council of Zimbabwe (MDPCZ) on the status of foreign doctors who were recently arrested at the private health institution for working without licences.

source: AllAfrica News: Zimbabwe

Firm Rolls Out Fibre Optic Network Nationwide

[The Herald] LIQUID Telecom has started rolling out its fibre optic network in the southern and eastern parts of Zimbabwe to meet the growing demand for internet services, an official said.

[The Herald] LIQUID Telecom has started rolling out its fibre optic network in the southern and eastern parts of Zimbabwe to meet the growing demand for internet services, an official said.

source: AllAfrica News: Zimbabwe

‘Avoid Printing Higher Denomination Bond Notes’

[The Herald] The Bankers Association of Zimbabwe (BAZ) says Government should avoid printing higher denominations of bond notes in order to maintain value and confidence in the “surrogate” currency.

[The Herald] The Bankers Association of Zimbabwe (BAZ) says Government should avoid printing higher denominations of bond notes in order to maintain value and confidence in the "surrogate" currency.

source: AllAfrica News: Zimbabwe

Opinion: Are Plummeting Oil Prices A Blessing for Zambia?

The price of oil has continued to decline in recent months. The commodity has for the last three to four months successfully breached the $50 per barrel barrier. This has created a major blow to the oil exporting countries like … Continued

The post Opinion: Are Plummeting Oil Prices A Blessing for Zambia? appeared first on Zambia Reports.

The price of oil has continued to decline in recent months. The commodity has for the last three to four months successfully breached the $50 per barrel barrier. This has created a major blow to the oil exporting countries like Nigeria, Libya and Angola as well as the Middle East. Oil exporting countries have had to cut down on their production, thereby cutting down on employment. During this period of job cuts, inventories are also reduced. According to Bloomberg, the original cuts in November were meant to send the market into backwardation, placing a premium on short-term supply and increasing OPEC revenues. Analysts have suggested that cutting down production may support the price as it will reduce supply, thereby increasing demand, which ultimately raises the price of the product. In the same vein, cutting down production will result in revenue cuts for OPEC members, and bigger struggles to balance stretched budget deficits they are already faced with. For Zambia, a non-oil producing country, the low price on the international market could be a blessing for a stressed economy,whose citizens pay a high price accessing the commodity. The Energy Regulation Board (ERB) recently announced it will review pump pricing based on the performance of international crude prices, with the other factor being the Kwacha’s stable performance against the dollar the last six months. The presumption is that pump prices will reduce further next month when the next review is due. The stability of the Kwacha since its last huge drop can not be overemphasized, trading in the range of 9.55-9.85/USD. Crude oil prices have been consistently declining with the last review conducted by ERB pegging a barrel at $55. Today, international crude oil price regulators such as NYMEX and WTI are contracting trading prices between $48.08 and $51.03 per barrel. All things being constant, the oil price fall curse for exporters is expected to be a blessing for Zambia. A low oil price entails reduced production costs for fuel intensive industries and could ease transport costs too. These factors will ultimately ease the cost of essential goods and cushion inflationary pressures to keep interest rates in check in Zambia. As of last month, the overall inflation rate was at 6.8 percent, while the food inflation rate was at 7.8 percent per Central Statistics assessment. The Consumer Price Index (CPI) was at 193.11 points. Commodities such as mealie meal, bread and dairy products should have price cuts based on the activities in the oil industry. Currently, the average price for a loaf of bread is K9, while a 25kg bag of mealie meal is pegged at K95. Cooking oil is selling for K35 for a 2.5 litre container. A bag of Dangote cement is going for K53 while Lafarge is at K54. Commuters in the country will expect their fair share of the blessing. As of last month, the CPI for transportation was at 207.35. The bus fares for common routes were at K65 for Lusaka-Ndola, K85 for Lusaka- Kitwe, K120 for Lusaka-Livingstone and K150 for Lusaka-Solwezi. Within Lusaka – the capital – bus fares were at K6 from town centre to Chelston, K7 from town centre to Avondale, K5 from Mtendere to Kalingalinga and K7 from town centre to Chawama. In view of the competing factors, the benefits of low oil price should overrall benefit an ordinary citizen in an oil importing country like Zambia. There is no reason Zambians should continue paying the same, if not more, for essential commodities when oil prices have nosedived. It’s hoped the Zambian government will ensure the trickle down benefit of low oil prices reach its citizens in Shang’ombo, Ukwimi and Chavuma. The post Opinion: Are Plummeting Oil Prices A Blessing for Zambia? appeared first on Zambia Reports.

source: Zambia Reports

Opposition Politician Slates Govt’s ‘Baboon’ Stunts

[New Zimbabwe] PEOPLE’S Democratic Party (PDP) spokesperson Jacob Mafume says Zanu PF must spare the nation its “baboon” stunts which it has often visited upon locals through populist but disastrous pre-election decisions on local government affairs.

[New Zimbabwe] PEOPLE'S Democratic Party (PDP) spokesperson Jacob Mafume says Zanu PF must spare the nation its "baboon" stunts which it has often visited upon locals through populist but disastrous pre-election decisions on local government affairs.

source: AllAfrica News: Zimbabwe