Monday, May 27, 2019

Huawei Devices Will No Longer Use SD Card Slots As U.S. Sanction Continues - Phones - Nairaland

Huawei has been hit with plenty of blows that doesn’t look good at all, One Of the Blow include the loss of chip designer ARM from the UK

Chip designer ARM has sent a memo to employees telling them to cease “all active contracts, support entitlements, and any pending engagements” with Huawei because of “US origin technology” in ARM’s designs. ARM’s technology is the foundation for most mobile chipsets and without it Huawei wouldn’t be able to develop its own chips.ARM has officially stated only that it is “complying with all of the latest regulations set forth by the US government”. Huawei has also responded by stating that, “We value our close relationships with our partners, but recognise the pressure some of them are under, as a result of politically motivated decisions.”

Huawei has been de-listed from the SD Association and no longer appears on its list of members. That means that Huawei can no longer officially use microSD cards or microSD slot in its devices. The ban doesn’t impact the smartphones Huawei already has on the market, but it will impact upcoming devices. Androd devices commonly have microSD card slots, and that is seen by many as one of the big benefits of Android devices over iPhonesThe SD Association is the non-profit that controls the standards for SD products. It controls all formats from full-size SD to the microSD cards used in smartphones. Companies who aren’t a member can’t officially produce smartphones, tablets, or other devices using the standards or media. It’s also worth noting that Huawei had previously been moving away from microSD cards and slots to something it developed in-house called NanoMemory. It’s unclear if that NanoMemory tech uses any patents that might be restricted.

FG assured to create 20 milliion jobs in 4 years

The Federal Government on Monday unveiled fresh plans to create about 20 million new jobs in four different sectors of the economy.

The strategy was disclosed in Abuja by the Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah, at a stakeholders’ meeting on job creation.

The minister said that with the huge level of unemployment in the country, it had become imperative to come up with a pragmatic approach to creating jobs for the people.4'

BUSINESS & ECONOMY
We’ll create 20 million new jobs in next four years –FG
Published

 May 28, 2019
Ifeanyi Onuba, Abuja

The Federal Government on Monday unveiled fresh plans to create about 20 million new jobs in four different sectors of the economy.

The strategy was disclosed in Abuja by the Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah, at a stakeholders’ meeting on job creation.

The minister said that with the huge level of unemployment in the country, it had become imperative to come up with a pragmatic approach to creating jobs for the people.


He said the ministry had directed the Industrial Training Fund to come up with innovative solutions to create 20 million jobs in four sectors of the economy in the next four years.

The sectors, according to the minister, are agriculture, transportation, services and construction.

Enelamah, who was represented at the event by the Permanent Secretary in the ministry, Mr Sunday Akpan, said the need to focus on the sectors was borne out of the conviction that they held the key to the diversification efforts of the Federal Government.4'

BUSINESS & ECONOMY
We’ll create 20 million new jobs in next four years –FG
Published

 May 28, 2019
Ifeanyi Onuba, Abuja

The Federal Government on Monday unveiled fresh plans to create about 20 million new jobs in four different sectors of the economy.

The strategy was disclosed in Abuja by the Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah, at a stakeholders’ meeting on job creation.

The minister said that with the huge level of unemployment in the country, it had become imperative to come up with a pragmatic approach to creating jobs for the people.


He said the ministry had directed the Industrial Training Fund to come up with innovative solutions to create 20 million jobs in four sectors of the economy in the next four years.

The sectors, according to the minister, are agriculture, transportation, services and construction.

Enelamah, who was represented at the event by the Permanent Secretary in the ministry, Mr Sunday Akpan, said the need to focus on the sectors was borne out of the conviction that they held the key to the diversification efforts of the Federal Government.


The minister said with the huge contributions of the sectors to the Gross Domestic Product of the Nigerian economy, it had become imperative to explore their job creation potential to reduce the level of unemployment in the country.

He said, “In order to sustain and build on the successes recorded in this regard in the first tenure of Mr President, we are articulating

Saturday, May 25, 2019

Why most people won't like to buy electric cars

Only one in four people would consider buying a fully electric car in the next five years.

That is the finding of one of the most comprehensive studies into UK consumers and pure electric vehicles.

There has been a renewed focus on the climate and environment recently.

The reluctance of British drivers to embrace cleaner electric technology could be seen as a concern for those who want to move towards a low carbon future at a faster paceRange factor
As part of the research, British motorists were asked to drive three cars for four days apiece. They were:

An electric VW e-Golf hatchback
A plug-in hybrid VW Golf GTE hatchback
A standard internal combustion engine VW Golf hatchback GT Edition
It was all part of a study conducted by the Transport Research Laboratory, which is owned by a not-for-profit foundation overseen by firms in the transport industry.Dad of two Jon Cook recently bought a new petrol SUV. After researching the market, he didn't feel an electric car was right for long family trips to Cornwall and there were no local electric charging points.

"There is definitely an increased cost in buying electric," he said. "And also just where you go to charge the cars. We live on a street so it would be quite difficult to have a charger on our street."

Sales of pure electric cars rose to 1,517 in April 2019, an increase of 588 on the same month last year, according to the Society of Motor Manufacturers and Traders. They accounted for 0.9% of total sales for the month.Dr George Beard from the Transport Research Laboratory analysed the data.

"Key barriers to adoption of electric vehicles include the electric range," he said.

"The range needs to be long enough to give consumers confidence that the vehicle can meet their needs. The upfront purchase cost, and the availability of charging infrastructure so they can charge where and when they need, were also factors."

The government is legally bound to reduce CO2 emissions in 2050 by 80% compared with levels in 1990, and reducing vehicle emissions is seen as a critical part of this.

As part of its clean air strategy, the government has pledged to end the sale of all new conventional petrol and diesel cars and vans by 2040.More competition'
Last year, motoring groups condemned the government's decision to cut subsidies for buying greener cars, as grants for new plug-in hybrids were scrapped, and discounts on all-electric cars were cut from £4,500 to £3,500.

Cash incentives have been offered since 2011 to promote cleaner cars and meet emissions targets.

Last month,LG sales of plug-in hybrids in the UK fell by 1,000 on the same month last year, to just under 2,000 cars. The government denies that reducing its subsidy for electric cars last year has had a detrimental effect.

But the price of the car was considered "very important" or "extremely important" by more than 85% of participants, in relation to both fully electric and plug-in hybrid. Consistent with this, 73% of participants reported being "fairly likely" or "very likely" to have a plug-in hybrid in the household in the next five years if government grants were available to reduce purchase costs.

Tech firm opened in tech hub recently opened in Ajah

Software solutions provider, Vatebra Limited, recently debuts tech hub in Ajah. Sponsored by the Bank of Industry (BoI), the hub is aimed at pressing the country towards adoption of information technology.It is also to scale start-ups to scale to meet global standards. By this, the hub strives to build a network of tech entrepreneurs by positioning them for future technological advancements.
   
Strategically located in the heart of Ajah, a densely populated part of Lagos, the hub will drive inclusion for start-ups to contribute to the general tech ecosystem of Nigeria and Africa at large.The hub offers co-work spaces and private offices at affordable rates, trainings on software development, robotics and entrepreneurship. The hub plans to commence its incubator and accelerator programs to provide business mentorship and access to finance for start-ups and budding entrepreneurs with viable and scalable business ideas.
 
Managing Director, Bank of Industry (BoI), Olukayode Pitan said: “We believe that this hub will give start-ups a place to harness opportunities in the Nigerian and generate income from their skills rather than engage in fraudulent activities”.Pitan added that some entrepreneurs are looking for offices but cannot afford available ones. “The Bank of Industry is giving them a platform to set-up offices, grow their businesses and add to Nigerian GDP. This initiative is a Corporate Social Responsibility of the Bank of Industry,” he added.
 
Vatebra tech hub aims to contribute to the tech ecosystem in Nigeria by driving the adoption of digital technology through digital capacity development, entrepreneurship training and inclusive technology education in Nigeria.

Tech firm opened in tech hub recently opened in Ajah

Software solutions provider, Vatebra Limited, recently debuts tech hub in Ajah. Sponsored by the Bank of Industry (BoI), the hub is aimed at pressing the country towards adoption of information technology.It is also to scale start-ups to scale to meet global standards. By this, the hub strives to build a network of tech entrepreneurs by positioning them for future technological advancements.
   
Strategically located in the heart of Ajah, a densely populated part of Lagos, the hub will drive inclusion for start-ups to contribute to the general tech ecosystem of Nigeria and Africa at large.The hub offers co-work spaces and private offices at affordable rates, trainings on software development, robotics and entrepreneurship. The hub plans to commence its incubator and accelerator programs to provide business mentorship and access to finance for start-ups and budding entrepreneurs with viable and scalable business ideas.
 
Managing Director, Bank of Industry (BoI), Olukayode Pitan said: “We believe that this hub will give start-ups a place to harness opportunities in the Nigerian and generate income from their skills rather than engage in fraudulent activities”.Pitan added that some entrepreneurs are looking for offices but cannot afford available ones. “The Bank of Industry is giving them a platform to set-up offices, grow their businesses and add to Nigerian GDP. This initiative is a Corporate Social Responsibility of the Bank of Industry,” he added.
 
Vatebra tech hub aims to contribute to the tech ecosystem in Nigeria by driving the adoption of digital technology through digital capacity development, entrepreneurship training and inclusive technology education in Nigeria.

Jews has been warned against wearing kippah in Germany

Germany’s government commissioner on anti-Semitism has warned Jews about the potential dangers of wearing the traditional kippah cap in the face of rising anti-Jewish attacks.

“I cannot advise Jews to wear the Kippah everywhere all the time in Germany,” Felix Klein said in an interview published Saturday by the Funke regional press group.In issuing the warning, he said he had “alas, changed my mind (on the subject) compared to previously.”

Klein, whose post was created last year, cited “the lifting of inhibitions and the uncouthness which is on the rise in society” as factors behind a rising incidence of anti-Semitism.
The internet and social media have largely contributed to this — but so have constant attacks against our culture of remembrance.”

And he suggested police, teachers and lawyers should be better trained to recognise what constitutes “clearly defined” unacceptable behaviour and “what is authorised and what is not”.

His comments came just weeks after Berlin’s top legal expert on anti-semitism said the issue remains entrenched in German society.
Anti-Semitism has always been here. But I think that recently, it has again become louder, more aggressive and flagrant,” Claudia Vanoni told AFP in an interview, adding the problem was “deeply rooted” in German society.

Anti-Semitic crimes rose 20 percent in Germany last year, according to interior ministry data which blamed nine out of ten cases on the extreme right.

Vanoni said the proliferation of online platforms that allow people to express extremist views without inhibition while hiding behind screens had fostered the rise in cases.
The arrival in parliament of the far-right AfD, whose leaders openly question Germany’s culture of atonement for World War II atrocities, has also contributed to the change in atmosphere, as has the arrival of more than a million asylum seekers, many from Muslim countries such as Syria, Afghanistan or Iraq.

Klein said that while the far-right was to blame for the vast majority of anti-Semitic crime, it was apparent that some Muslims were also influenced by watching certain television channels “which transmit a dreadful image of Israel and Jews”.

Spanish police has detained 23 before Cops Dey Rey final

Sports

Barcelona players attend a training session at the Joan Gamper Sports City in Sant Joan Despi near Barcelona on May 24, 2019 on the eve of the 2019 Copa del Rey (King’s Cup) final football match between Barcelona and Valencia. Josep LAGO / AFP

Spanish police have detained 23 people in “incidents” in the southern city of Sevilla ahead of the Copa del Rey final that pits Barcelona against Valencia, they said on Saturday.

“Last night in Sevilla, police detained 23 people (who now won’t be able to go to the Copa del Rey final) and seized blunt objects during incidents in the Nervion area,” police tweeted.

Nervion houses the Sevilla FC stadium.

They added five police officers were slightly hurt.A police spokesman could give no further details.

Local media, however, reported that those detained were members of the Boixos Nois, a group of ultra supporters of FC Barcelona.

Online sports site ElDesmarque reported they had been looking for a fight with ultra supporters of Sevilla

Osibanjo and Ambode discuss Telecom at Lagos

Vice President, Prof. Yemi Osinbajo; Governor of Lagos State, Akinwunmi Ambode, and the Minister of Communications, Chief Raheem Adebayo Shittu, are expected to grace the maiden edition of Nigerian Telecom Leadership Summit (NTLS 2019), which holds at the Grand Ball Room of Eko Hotel & Suites, Victoria Island, Lagos, tomorrow.The theme: “Repositioning the Nigerian Telecom Industry for future challenges and Prospects”, the summit according to the initiator, the Nigerian Communications Commission (NCC), is in line with the Commission’s commitment towards improving the investment climate of the Nigerian Telecom industry.Thereafter, eminent panelists who have been carefully selected for the Summit will discuss “The challenges facing the Nigerian telecoms industry, way forward and the role of the regulator”, and “Implications of multiple taxation on telecom investments in Nigeria”, after a presentation of the latter subject by Dr. Doyin Salami of the Lagos Business School.It is geared towards sustaining a robust collaborative regulatory environment where current and future challenges are addressed.As part of the programme of collaborative regulatory atmosphere, the summit presents a unique opportunity for NCC to interact with key stakeholders to discuss pertinent issues affecting the industry with a view to proffering solutions to address challenges. It is also designed to critically analyse the current state of the industry and make profound recommendations for sustaining a healthy Nigerian telecom industry

Nigeria looses over $1b to corrupt MSMEs development programmes

Business

Latest report by the Sustainable Entrepreneurship and Economic Development Initiative (SEEDi), has revealed that Nigeria has lost over $1 billion to corruption-related Medium Small and Medium Enterprises (MSMEs) programmes in four years.

The report said the amount exceeds Nigeria’s capital expenditure on health and education combined for the period covering 2014 to 2018.

Based on the Central Bank of Nigeria (CBN) official rate of N306/$1, the $1billionn translates into about N306 billion.
The report titled, ‘Stolen dreams: How corruption negates government assistance to Nigeria’s small businesses,” was produced and launched Wednesday in Abuja, by the Carnegie Endowment International Peace, in collaboration with the Open Society Initiative for West Africa (OSIWA).
“Exacerbated by mismanagement and broader policy failures, this form of corruption has disproportionately high multiplier effects. It inflicts lasting damage and opportunity costs on a sector that employs 84g per cent of Nigerian workers and contributes about 50 per cent to Nigeria’s Gross Domestic Product.

“Though difficult to calculate, MSME -related corruption has likely siphoned over $1bn from Nigerian state coffers between 2014 and 2018In her remarks, Secretary, Small Scale Women Farmers Organisation in Nigeria (SWOFON) FCT Chapter, Mercy Nnanna Chukwuma, said women contribute more than 60 per cent of the MSMEs population, which needs proper funding to grow the economy.

Trade tension between US —China is benefiting Nigeria

The rising trade tension between the United States and China, is benefitting Nigeria, as it is currently boosting the price of crude oil in the international market.

By the development, the country is not only increasing its stock of foreign exchange reserves, but also boosting the strength of the local currency, as confidence on the increasing buffers supports activities.

The President, Association of Bureaux De Change Operators of Nigeria (ABCON), Dr. Aminu Gwadabe, while speaking with finance journalists in Lagos, said since the beginning of April this year, oil prices have remained above $70 a barrel as the trade war rages.
According to him, the U.S. sanctions on Iran and Venezuela have also tightened the supply of crude oil at the international market and put upward pressure on oil prices.

Last week, U.S. had raised tariffs on $200 billion worth of Chinese imports to 25 per cent from previous rate of 10 per cent, pushing prices of affected consumer goods higher.

“The rising oil prices as a result of tension in the Persian Gulf and the increasing trade wars between two world economic giants – China and America, will help to take the naira to another level of stability.
I advise the Federal Government and the Central Bank of Nigeria (CBN), to take advantage of the two situations by introducing what will support growth and development opportunities,” he said.

Gwadabe said with the exchange rate stability being witnessed in the market, the next target of the apex bank should be to have a single digit interest rate that would stimulate economic activities and business growth.

He noted that Russia and the Asian countries are already utilising their Yuan Swap agreement with China to strengthen their local currency, a strategy Nigeria is also expected to pursue.

AXA' gross premium increase by 28% in 2019



AXA Mansard Insurance
AXA Mansard Insurance Plc has declared gross written premium of N33.9 billion in its 2018 financial year, up by 26 per cent from the N26.8 billion in 2017.

The company’s net premium income grew by 43 per cent to N19.7 billion from N13.8 billion in 2017, while profit before tax rose by five per cent to N3.4 billion in 2018, from N3.2 billion in 2017.

However, profit after tax was impacted by significant one-off tax provisions during the year, resulting in a seven per cent dip to N2.5 billion from N2.7 billion in 2017
The company put its total assets at N73.8 billion, representing 11 per cent growth from N66.5 billion recorded in 2017, while shareholders’ funds grew by three per cent to N20.9 billion from N20.3 billion in the same period under review, remaining well in excess of regulatory requirements.

The Chairman, Olusola Adeeyo, who made this known at the company’s 27th Yearly General Meeting in Lagos, said the growth witnessed in gross written premium was supported by continued growth in their health business, making the company the health insurance industry leader, while maintaining their position in other segments.On dividend, he explained that due to the guidelines on Tier-Based Minimum Solvency Capital (TBMSC) Policy, the company took strategic decisions to optimise their balance sheet to align with the guidelines in readiness for the implementation of the policy.

He stated that although, the policy was later withdrawn by the regulator, they had already taken the necessary actions on it, adding that while the step taken had a significant impact on their working capital, they are confident that the benefits in terms of readiness to secure future business opportunities and ensure the continued profitability of the company far outweighs any short term discomfort.
Our reinsurance cost ratio also increased marginally to 21 per cent from 20 per cent, as a result of changes made to treities and focus on the mid-size business segment which they expect will assist their quest to improve margins.

“Growth in total assets under management continued this year, with the business achieving growth of 40 per cent to N106.6 billion as at December 31, 2018, from N76.1 billion in the previous year”, he

Hallmark share holders endorse 165 m in 2019

Shareholders of Consolidated Hallmark Insurance Plc has approved a dividend of N162 million culminating to two kobo per share, due to every of its investor for the 2018 financial year.
Reviewing its performance at the 24th yearly general meeting held in Lagos, on Tuesday, Company Chairman, Obinna Ekezie, said amid harsh operating environment, the group recorded a gross premium written of N6.86billion, representing 20.85 per cent 2017 level, while basic earnings per share was N0.0579 compared to N0.0677 achieved a year earlier.
He said due to investments made in strategic market developments initiatives, and the high claims payout during the year, the operating expenses grew by 26.48 per cent to N1.77 billion despite the harsh environment.
“However, due to management’s disciplined approach to cost management, the group still recorded a profit after taxation growth from N406 million in 2017 to N407 million in 2018. Toward our commitment to evolving into a leading provider of insurance and other financial services in Nigeria, measures have been firmly put in place in this regard while the deployment of funds generated through capital raise will no doubt ensure further improvements in the company’s income.”
The Managing Director the company, Eddie Efekoha, said the firm’s total assets increased from N9.4 billion in 2017 to N10.8 billion in 2018 representing a growth of 14 per cent. He also said the company’s capacity to undertake larger and more technical transactions has been greatly enhanced with the recent injection of additional capital through funds generated from a combination of the rights issue and private placement, noting that the Nigerian Insurance industry has continued to experience numerous challenges in its operations.