Pension stipends received by professors and permanent secretaries will be augmented by the Federal Government when the new Pension Reform Act is eventually passed into law, investigation has revealed. This development will enable them to continue to earn their full salaries in retirement even when they don’t have enough funds in their Retirement Savings Accounts, unlike other retirees under the Contributory Pension Scheme.
Updated 5 Years ago

Former President Olusegun Obasanjo, on Thursday warned the Nigerian military not to “play Public Relations propaganda” with the abduction of over 200 female pupils of the Government Secondary School, Chibok, Borno State. Obasanjo said this in a Channels Televisionnews monitored in Lagos on Thursday night. Asked to react to comments made by the Chief of Defence Staff, Air Marshal Alex Badeh, that the Nigerian military knew the whereabouts of the abducted girls, Obasanjo said, “This is not an issue that
Updated 5 Years ago

Malawian President Joyce Banda said on Thursday she is ready to step down if the High Court ratifies a disputed election last week and her opponent ends up as the winner, even though she still believes the vote was fraudulent. The High Court is due to decide on Friday whether the Malawi Electoral Commission (MEC) should announce the result of the May 20 vote, which Banda's opponent is likely to have won, or if it should recount ballots, a process that could take two months.
Updated 5 Years ago

In furtherance of its commitment to boosting gas processing in the country, Nigeria is set to construct the first and largest gas industrial park in Africa, Petroleum Resources Minister, Diezani Allison-Madueke Monday disclosed. According to the minister, the West African country plans to build the first and largest gas industrial park in Africa.
Updated 5 Years ago

The UAE's current account surplus fell 6.2 percent to AED237.6 billion ($64.7 billion) in 2013 because of outflows in the service sector and soaring remittances by foreign workers in the country, preliminary central bank data has showed. The surplus was equivalent to 16.9 percent of the UAE's 2012 gross domestic product, according to a Reuters calculation based on the latest official data. The UAE has yet to release its 2013 GDP data.
Updated 5 Years ago

Dubai International Real Estate (DIRE) has awarded a $395 million contract to the Habtoor Leighton Group (HLG) to build the next phase of its $816 million Jewel Of The Creek Development in Port Saeed in Dubai. The project,which measures 123,955 square metres, will include serviced apartment buildings, nine hotels and a marina.
Updated 5 Years ago

Tripartite discussions between the South Korea, Japan and the United States are to take place later this week, the Yonhap News Agency has reported, with a focus on increased cooperation in intelligence sharing. Long touted as a way for the two U.S. allies to form a united front against North Korea, cooperation between South Korea and Japan remains controversial due to Japan’s 1910-1945 colonization of the Korean Peninsula. A similar military intelligence-sharing agreement between the two collapsed two years ago due to domestic resistance in South Korea.
Updated 5 Years ago

Chinese consumers are accustomed to all types of government measures to restrain rising home prices. Now it's time for a probable turnaround. Hangzhou is the provincial capital and the first city in the country to set a "bottom line" for a new - home transaction price. But the city government later clarified that it was not setting a "bottom line" for home price drops; instead, it means to regulate the pricing behaviors of developers.Property deals in Hangzhou in East China's Zhejiang province are set to terminate if the actual transaction price is 15 percent lower than that developers recorded with the municipal government.
Updated 5 Years ago

China will launch a campaign to keep terrorism-related video and audio information off the Internet, on grounds that publicity encourages terrorists to commit more violent acts, the State Internet Information Office said. The office announced the move in a video conference attended by heads of provincial Internet information offices.
Updated 5 Years ago

Governor of the Buenos Aires Province Daniel Scioli has positively echoed the news about the Paris Club deal affirming the accord will help to bum up the already “growing interests of investors” in Argentina, a mainstay for productive and infrastructure development. In statements to media this morning, Scioli expressed his “public congratulations” to Economy Minister Axel Kicillof who managed to reach a “very beneficial agreement for the country,” following “instructions of President Cristina Fernández de Kirchner.”
Updated 5 Years ago