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ZIMBABWE, banking on mining to end two decades of economic stagnation, plans to list Kuvimba, the company in which it has placed state mining assets, to raise cash to meet government obligations. Late last year, the government created Kuvimba Mining House, in which the State pension fund and sovereign wealth fund hold 65% shareholding, to house its holdings in platinum, gold and nickel. “In the next two years, it will be a highly profitable group,” Finance minister Mthuli Ncube said in an interview. “When we eventually list, government will offload some of its shareholding.” The creation of Kuvimba is the latest attempt by the government to kickstart its mining industry. While companies were deterred by local ownership requirements and a frequently changing currency regime, investors from Russia, Cyprus and Nigeria are now exploring having platinum mines in Zimbabwe, which has the world’s third-biggest reserves of the metal. In addition to partnering Russian investors in a platinum venture, Kuvimba plans to rehabilitate aging mines and develop new ones. The company will likely be listed on the dollar-denominated stock exchange that was established in the resort town of Victoria Falls last year, Ncube said. The rest of the company is owned by a consortium headed by David Brown, the former chief executive officer of South Africa’s Impala Platinum Holdings, he said, without giving details about the arrangement. “We are looking for international skills, skills with a track record and he has a track record,” Ncube said. Money from Kuvimba will be used to back entrepreneurs, compensate people who lost the value of their bank deposits when the local currency crashed, bolster funding for veterans of the 1970s liberation war and provide seed capital for a new government workers’ pension fund, he said. It will also be used to compensate white former farmers. Zimbabwe’s initial refusal to compensate white farmers soured Zimbabwe’s relations with multilateral lenders and the West. Now the country plans to appoint advisers to help it raise the US$3,5 billion it has agreed to pay. “With Kuvimba, the government has put something on the table, it has skin in the game,” Ncube said. “Everything now hinges on concluding the appointment of the adviser and then the work of fund raising will begin in earnest.”— Bloomberg
South Africa is one of the hardest-hit countries in Africa with over 740,000 infections.
The country recorded 60 more virus-related deaths on Wednesday, bringing the death toll to 20,011.
The 'Empire' actress has revealed she considered taking her own life during the lockdown.
LeBron James is chiming in after yet another unarmed Black man was shot by police. Jacob Blake had just broken up a fight between two women and was walking back to his vehicle when Kenosha,WI officers shot him in the back 7 times, while his children watched in the car. Blake is currently in the […]
Malaysia Pargo's fans were left spellbound on Friday after the 'Basketball Wives' star uploaded a tantalizing video showcasing her newly installed curly locks. On the […]
Fifth District City Commissioner Regina Hill disclosed Monday that her brother, 52-year-old Edward Hill, died last week after contracting the coronavirus while incarcerated in the South Bay Correctional Facility. He was scheduled to be released in less than a year. At least three other inmates have also died in South Bay after testing positive for […]
The post Orlando Commissioner's Brother Dead from Coronavirus Contracted in Correctional Facility appeared first on The Orlando Advocate.
What You Need To Know: In another reversal, the Centers for Disease Control and Prevention has changed its guidance on who should be tested for the coronavirus, encouraging asymptomatic people who have come in contact with an infected person to get tested and self-quarantine for 14 days. Last month, guidance said those who did […]
For additional guidance and information, the Mayor’s Office of Economic Development presented the final recommendations of the Mayor’s Economic Recovery Advisory Committee to the Tulsa City Council.
The recommendations, which were formed in partnership with the Tulsa Regional Chamber, center on both short-term and long-term economic recovery efforts as they relate to COVID-19 impacts in Tulsa.
The Committee, which formed in April, has been working on a set of recommendations that leverage the experience and expertise of Tulsa’s largest employers, industry, and community leaders to guide these recommendations for economic recovery in Tulsa.
“As area companies recover from the impact of the coronavirus pandemic, these recommendations will help guide our efforts to support Tulsa’s business community and ensure northeast Oklahoma’s long-term economic competitiveness,” said Mike Neal, president and CEO of the Tulsa Regional Chamber.
The Committee utilized three subcommittees that have highlighted certain actions already underway, coupled with short-term and long-term priorities to drive economic growth in Tulsa.
The president has opposed giving the post office more money. Sarah Palin had some friendly, and pointed, advice for Kamala Harris.
Kenyan Premier League side Mathare United has faulted the Ministry of Sports' financial aid to sportsmen, whose source of livelihood has been hampered due to coronavirus.
Last week, 12 KPL clubs and some Women Premier League (WPL) were added to the fray with 25 players and five officials from the clubs receiving Sh10,000 each per month for the next three months.
With the stoppage of KPL matches in early March this year due to the Covid-19 pandemic, our team is unfortunately among that majority of KPL teams unable to pay full salaries tor March and subsequent two months,\" a letter addressed to Deputy Sports Commissioner Jaxon Indakwa and signed by Mathare United Chairperson Bob Munro and CEO Jecton Obure reads in part,
\"As explained is many previous communications between our club and the Ministry, the majority of KPL players and officials now owe rent arrears for at least 2-3 months.
As all our players and officials are now suffering and the Ministry has set lower limits on the number to be assisted, we would appreciate your advice on objective and fair criteria to be applied when deciding which full-time players and officials should be included or excluded,\" it adds.
\"Last week the Ministry announced Sh20 million had been allocated to help 420 KPL players and officials with a Sh10,000 monthly grant for the next 3 months.
The South African Council of Churches, along with other organisations, will mobilise a comprehensive societal response to corruption.
Secondary school principals say they want the Caribbean Examinations Council (CXC) to be clear about its weighting and marking procedures, as candidates and school administrators look towards the 2021 sitting of the Caribbean Secondary Education Certificate (CSEC) and Caribbean Advanced Proficiency Examination (CAPE) tests.
WASHINGTON (AP) — Nearly 1.9 million people applied for U.S. unemployment benefits last week, evidence that many employers are still cutting jobs even as the gradual reopening of businesses has slowed the pace of layoffs.
Still, the number of people who applied for benefits last week marked the ninth straight decline since applications spiked in mid-March.
Fewer people sought jobless aid last week in 47 states and in Washington, D.C., while the number rose in just California, Florida and Mississippi.
In addition to the laid-off employees who applied for benefits last week, 623,000 others sought jobless aid under a new program for self-employed and gig workers, who now qualify for unemployment benefits for the first time.
But some economists warn that applications for unemployment aid could rise in next week’s report, reflecting business closures amid the protests and scattered vandalism.
By STAN CHOE and ALEX VEIGA AP Business Writers Wall Street is rallying toward record highs again Thursday on expectations that the Democratic sweep of Washington means more stimulus is likely on the way for the economy. The S&P 500 was 1.5% higher in the first trading after Congress confirmed Joe Biden as the winner of the presidential election and Jon Ossoff was declared the winner of a Georgia runoff election, tipping control of the Senate to Democrats. The Dow Jones Industrial Average was up 240 points, or 0.8%, at 31,069, as of 2:57 p.m. Eastern time, and the Nasdaq […]
The post Wall Street keeps rising on Democratic wins, stimulus hopes appeared first on Black News Channel.
In short, there are real boundaries on Trump's power, and checks and balances to patrol those boundaries.
Trump did not like what he heard. The following day he flexed his Article II muscles and commuted the sentence of Roger Stone, his longtime ally who was investigated by special counsel Robert Mueller in connection with Russian interference in the 2016 US presidential election. Stone, convicted by a jury on seven felony counts including lying to Congress, obstruction of a congressional investigation, and witness tampering, was days away from reporting for a 40-month federal prison sentence.
The commutation ends his prison sentence before it starts and gives Stone the opportunity to continue his appeal as a free man. This appeal could potentially include whether the guilty verdict itself should be overturned because of alleged juror bias.
The commutation is an outrageous step -- but, astonishingly, outrage among senators was far from universal. We are a long way from the constitutional framers' sense of what presidential overreach looks like and how senators would respond.
Many of us who teach and write about the law were angered but not surprised by the commutation. Stone had just spoken to the media, telling news analyst Howard Fineman that he expected it to happen. \"[Trump] knows I was under enormous pressure to turn on him. It would have eased my situation considerably. But I didn't.\"
Fineman later summed it all up: \"And so, in the fullness of time -- which is to say, about an hour later -- the White House made official what Stone already knew: Trump was commuting Stone's felony convictions for lying to Congress and tampering with witnesses.\"
What Stone said was an admission of an implicit quid-pro-quo bribery: an agreement to provide or receive something of value in exchange for an official act -- here, Stone's silence in exchange for Trump's reprieve. It might not have been the traditional political bribe in the sense of money being offered to get a politician to do something, but in this case we can assume that Stone's silence had value for Trump.
Bribery is a federal criminal offense defined in statute 18 USC 201 to criminalize the act of both the person who offers or gives the thing of value and the federal official who solicits or receives the thing of value in exchange for an official act. Moreover, it is a specific ground for impeachment set out in the Constitution.
Why include it as a particular basis for impeachment? Current circumstances show the wisdom of doing so. Even if federal prosecutors were to investigate both Trump and Stone for bribery, we know, given the Justice Department's view that a sitting president can't be charged, that they would not prosecute Trump while in office. (And with Attorney General Bill Barr at the helm it seems all but inconceivable they'd even investigate Trump, who claimed Monday that he was getting \"rave reviews\" for commuting Stone's sentence.) That's why, if we had a Senate prepared to do its institutional duty
Springfield, MA — Roberta Hannah, an 18-year old senior at Springfield High School of Science and Technology in Massachusetts, has made history after being accepted into all of the 8 Ivy League schools.
But she worked hard and took honors and AP classes to be ready for it.
Hannah said she initially wanted to apply to just 3 schools, but her mother and sister encouraged her to apply to all of the 8 ivy league schools.
Hannah is grateful for her sister and mother who motivated her to achieve more.
Out of all the ivy league schools she could choose, Hannah plans to attend Columbia University and major in biochemistry and African-American studies.
It was hoped the Sunday appointment of Mali's new civilian prime minister, Moctar Ouane, could lift sanctions imposed by neighbouring countries.
ECOWAS imposed sanctions on Mali soon after the junta led August 18 coup and said they would be lifted after civilian leaders were appointed during the transition period.
But the bloc of West African leaders may take aim at junta leader Colonel Assimi Goita being appointed vice president.
He was one of the junta leaders who took power and toppled president Keita last month.
Former defence minister Bah Ndaw was sworn in as interim president on Friday and after announcing a new prime minister, he appearing to meet those conditions.
But Nigeria's President Muhammadu Buhari's office said regional leaders \"may confer again to discuss outstanding grey areas in the Mali political situation\" after he met ECOWAS envoy and Nigerian ex-president Goodluck Jonathan.
The statement said Buhari told the envoy to present a formal report to the ECOWAS chairman, Ghana's President Nana Akufo-Addo, \"who will then write us officially, and we then determine the next steps\".
\"According to the special envoy, the military leaders are yet to satisfy ECOWAS demand of a full civilian as vice president, and what his roles would be in government,\" the statement said.
By Everson Mushava A new international association has been formed to advocate for science-based ways of reducing the harm caused by tobacco smoking. The International Association on Smoking Control and Harm Reduction (SCOHRE), formed virtually last week at the end of the Third Scientific Summit on Tobacco Harm Reduction, will provide stakeholders with science-based information on the effects of nicotine, an addictive substance often blamed for smoking related mortality. A group of scientists, medical doctors, policy experts, behavioural experts, academics and other professionals from 21 countries across the globe attended the two day summit on September 24 and 25 that endorsed the new association. The summit noted the innovative approaches towards potentially safer alternatives to cigarettes for people resisting giving up smoking. This follows the launch of a new product, IQOS, by tobacco giant, Philip Morris International (PMI) that reduces risks of tobacco smoking and allows for smokeless consumption. PMI’s innovation has been described as a ray of light for African countries that rely on tobacco as the mainstay for their economies such as Zimbabwe and Malawi. The electronic IQOS device generates a nicotine-containing aerosol by heating tobacco-filled sticks wrapped in paper, specifically Marlboro Heatsticks, Marlboro Smooth Menthol Heatsticks and Marlboro Fresh Menthol Heatsticks, all brands owned by the American giant. The innovation was acknowledged by the US Food and Drug Administration (FDA) who in July gave PMI the greenlight to market its IQOS in America. While PMI cannot claim that this product is safe, according to the FDA approval, other countries and public health organisations have supported its research and innovation. According to the summit, information presented by members on the international health situation regarding cigarettes and high rates of tobacco related diseases, there is need for urgent action. “Despite knowing the harmful health effects of smoking for decades, still more than one billion people globally smoke and more than seven million die prematurely every year from smoking-related disease…,” part of the statement released by the summit after the formation of SCOHRE read. “We believe that smoking control strategies should be reshaped to include harm reduction through alternative potentially lower risk products use, besides the traditional smoking cessation and smoking prevention measures.” Despite the obvious advancements, the association said, tobacco harm reduction advocates were still facing a lot of resistance from key organisations, including policy and regulatory entities. “We need to find a way of establishing a constructive dialogue to discuss concerns and challenges,” the association added. SCOHRE will provide scientific evidence, including sharing and publicising the latest scientific data, identifying research gaps, independent verification of the industry data as well as focus on understanding the needs of smokers and those who want to quit smoking, as well as how to effe
Tens of millions of people in Africa could become destitute as a result of COVID-19 and its catastrophic impact on fragile economies and health systems across the continent, human rights chiefs from the United Nations and the African Commission warned on Wednesday.
As of 19 May 2020, COVID-19 had reached all 54 African States, infecting 88,172 people
UN High Commissioner for Human Rights Michelle Bachelet, and Chairperson of the African Commission on Human and Peoples’ Rights, Solomon Dersso, issued a joint call for urgent measures to mitigate the ripple effects of COVID-19 on the most vulnerable.
As of 19 May, COVID-19 had reached all 54 African States, infecting 88,172 people – 16,433 of them in South Africa, which recorded the highest number of cases.
Ms. Bachelet and Mr. Dersso called for equitable access to COVID-19 diagnostics, therapeutics and vaccines, urging creditors of African countries to freeze, restructure or relieve debt.
“It is a matter of human rights necessity that there must be international solidarity with the people of Africa and African Governments,” they said.
The US unemployment rate surprisingly fell to 13.3% in May, as the economy gained 2.5 million jobs.
The labor market rebounded from April’s drastic losses , when a revised 20.7 million jobs vanished.
The unemployment rate last month soared to 14.7% as businesses shut during the coronavirus lockdown.
Economists expected the unemployment rate to be even worse in May, rising to nearly 20%.
“These improvements in the labor market reflected a limited resumption of economic activity that had been curtailed in March and April due to the coronavirus pandemic and efforts to contain it,” said William W. Beach, commissioner of the Bureau of Labor Statistics, in a statement
Source: US unemployment rate unexpectedly falls to 13.3% as economy posts job gains
