Month: December 2017

Netanyahu: More European countries will follow US on Jerusalem

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Fending off widespread international criticism, Prime Minister Benjamin Netanyahu said Monday that recognizing Jerusalem as his country’s capital made peace possible, rather than distancing the prospect of an agreement with the Palestinians. Netanyahu, as he arrived for talks with EU foreign ministers here, said the move last week by US President Donald Trump “doesn’t obviate peace; it makes peace possible, because recognizing reality is the substance of peace, it’s the foundation of peace.” Standing next to EU foreign policy Chief Federica Mogherini at the headquarters of the European Union, he…

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Oil prices jump above $65

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Brent crude oil prices jumped above $65 per barrel after the shutdown of the Forties North Sea pipeline knocked out significant supplies from a market that was already tightening due to OPEC-led production cuts. Brent crude futures on Tuesday, the international benchmark for prices of crude, were at $ 65.07 dollars a barrel at 0211 GMT. U.S. West Texas Intermediate (WTI) crude futures were at 58.21 dollars a barrel. Britain’s Forties oil pipeline, the country’s largest at a capacity of 450,000 barrels per day (bpd), shut down on Monday after…

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Hackers steal $10m from U.S., Russian banks

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Previously undetected group of Russian-language hackers silently stole nearly 10 million dollars from at least 18 mostly United States and Russian banks in recent years by targeting interbank transfer systems, a Moscow-based security firm said. Group-IB warned that the attacks, which began 18 months ago and allowed money to be stolen from banks’ Automated Teller Machines (ATMs), appeared to be ongoing and that banks in Latin America could be targeted next. The first attack occurred in the spring of 2016 against banks in First Data’s (FDC.N) “STAR” network, the largest…

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UN urges member states to safeguard children from online abuse

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The UN has called on member states to keep children safe online by safeguarding their privacy and protecting them from abuse and exposure to unsuitable materials. UNICEF in a report released on Monday, specifically called for children to be put at the centre of digital policy, to expand young people’s access to the internet. According to UNICEF, young people aged 15 to 24 are the most connected age group globally, with 71 per cent online compared to 48 per cent of the total population. “The internet was designed for adults,…

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Tanzanian President John Magufuli pardons child rapists

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Children’s rights activists have condemned the pardon of two child rapists by the Tanzanian president. Kate McAlpine, director of the Arusha-based Community for Children Rights, told the BBC she was “horrified but unsurprised”. John Magufuli made the pardon in his independence day speech on Saturday. Singer Nguza Viking, known as Babu Seya, and his son Johnson Nguza, known as Papii Kocha, were pardoned for raping 10 primary schoolgirls. Mr Magufuli did not explain why he pardoned the pair. Ms McAlpine said the pardon illustrated Mr Magufuli showed a “lack of…

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Bitcoin tops $18,000 in debut on major bourse

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Bitcoin surged past $18,000 after making its debut on a major global exchange but was trading lower on Monday, highlighting the volatility of the controversial digital currency that has some investors excited but others nervous. Trading on a futures contract began at 6:00 pm (2300 GMT) on the Chicago board options exchange (Cboe) at a price of $15,000. Heavy traffic made the Cboe website inaccessible in the first 20 minutes, but it said that “trading runs on very separate systems and was totally unaffected by the website issues.” Around 1000…

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Boko Haram kills six soldiers in Borno

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At least six soldiers died in two separate Boko Haram ambushes in Borno State, military and civilian militia sources said on Monday. Four troops were killed and 12 injured on Sunday when their convoy was attacked near Damboa, 90 kilometres (56 miles) from Maiduguri, the capital of Borno state. Two soldiers were killed in the same area on Saturday, the sources told AFP, speaking on condition of anonymity as they were not allowed to talk to the media. A military officer in Maiduguri said Sunday’s ambush happened when troops were…

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Nigeria targets record 8,129MW in 2018, says Fashola

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The Nigerian Government on Monday said it is expecting additional 1,119 Mega Watts from generating plants that will go on stream next year. At the moment the country generates about 7,000 Megawatts.. The Minster of Power, Works and Housing, Mr Babatunde Fashola, said this at the 22nd monthly meeting of stakeholders in the power sector at Geregu, Kogi. Fashola said “the Azura power plant will give us another 450MW; I know that we will also get 10MW of wind power from Katsina State. I know that we will get 115MW…

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China-Nigeria bilateral trade hit $2.7b – envoy

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The Consul General of the Peoples’ Republic of China to Nigeria, Mr. Chao Xiaoliang has disclosed that China-Nigeria bilateral trade cooperation has hit $2.7 billion dollars and in line with the fundamental and long-term interests of both countries According to him, “China-Nigeria bilateral trade volume reached 10 billion USD from January to August 2017, and investment from China reached $2.7 billion dollars.” Mr. Xiaoliang made the statement while giving an update on the Belt and Road Initiative, saying the cooperation has tremendously helped in promoting peace, stability and development of…

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PDP: Dokpesi makes a U-turn

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Hours after spitting fire over flawed elective national convention, Chief Raymond Dokpesi, founder of Daar Communication, who contested the PDP National Chairmanship position and lost, has congratulated the winner, Prince Uche Secondus. Dokpesi, who had earlier faulted the process of the party’s National Convention held in Abuja on Saturday, declared that “the delegates have spoken”. “Ì appreciate the delegates for voting at the convention and congratulate the newly elected National Working Committee of the PDP led by Secondus. “You will recall that I said that the PDP must be the…

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