Inflation Hits Record 8.6% For 19 Countries Using The Euro

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July 2, 2022

Inflation in countries using the euro set another eye-watering record, pushed higher by a huge increase in energy costs fueled partly by Russia’s war in Ukraine.

Annual inflation in the eurozone’s 19 countries hit 8.6% in June, surging past the 8.1% recorded in May, according to the latest numbers published Friday by the European Union statistics agency, Eurostat. Inflation is at its highest level since recordkeeping for the euro began in 1997.

Energy prices rocketed 41.9%, and prices for food, alcohol and tobacco were up 8.9%, both faster than the increases recorded the previous month.

Demand for energy has risen as the global economy bounced back from the depths of the COVID-19 pandemic and Russia’s invasion of Ukraine made things worse.

European Union leaders agreed to ban most Russian oil imports by the year’s end, driving a price spike. The 27-nation bloc wants to punish Moscow and reduce its reliance on Russian energy, but it’s also adding to financial pain for people and businesses as utility bills and prices at the pump soar.

Russia also reduced deliveries of natural gas used to power industry and generate electricity last month to several EU countries like Germany, Italy and Austria, on top of cutting off gas to France, Poland, Bulgaria and others.

Rising consumer prices are a problem worldwide, with the U.S. and Britain seeing inflation hit 40-year highs of 8.6% and 9.1%, respectively. That has led the U.S. Federal Reserve, Bank of England and other central banks worldwide to approve a series of interest rate hikes to combat inflation.

But central banks run the risk of causing a recession as they make borrowing more expensive.

Death Toll From Northeast India Landslide Rises To 20

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Zoe Maven

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July 2, 2022

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In India, Army Officials say Rescuers in the country’s northeast have recovered 20 bodies from the site of a landslide that buried a railway construction camp, after a second day of search efforts.

An army statement said that 18 people had been safely recovered so far, while 15 reservists and 29 civilians were still missing and Aarmy spokesman Sumit Kumar Sharma said a rescue team was digging through mud and removing boulders in the search for more survivors.

Security forces and disaster relief teams are still racing to rescue dozens more feared trapped under debris at the site of the incident in Manipur state.

Most victims were reserve soldiers from the Territorial Army who had been working on the railway project.

India’s remote northeast has been pummelled by heavy rainfall in recent weeks, triggering landslides and floods.

Dozens were killed in the region after flooding last month, with relentless rains causing landslides and inundating homes.

Earlier this year, at least 10 people, including a four-year-old child, were killed in floods and landslides after unusually heavy rains hit several parts of India.

Experts say climate change is increasing the number of extreme weather events around the world, with damming, deforestation and development projects in India exacerbating the human toll.

Ukraine Asks Turkey To Detain Russian Cargo Ship

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Zoe Maven

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July 2, 2022

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Ukraine has called on Turkey to detain the Zhibek Zholy, a cargo ship that reportedly sailed from a Russian-occupied port in Ukraine to the Turkish port of Karasu.

Marine traffic websites showed the Zhibek Zholy anchored about a kilometre off Turkey’s Black Sea port of Karasu. They also showed the ship only switching on its transponders about 12 hours before approaching Turkey.

Kyiv’s ambassador to Ankara said the ship had set sail from Ukraine’s Kremlin-occupied port of Berdyansk.

The Marinetraffic.com website said the 140-metre general cargo vessel was sailing under the Russian flag.

Bodnar last month accused Turkey of purchasing grain seized by Russia from Ukraine during its invasion.

Turkey’s Foreign Minister Mevlut Cavusoglu said last week that Ankara was investigating reports of Russian-seized Ukrainian grain reaching its Black Sea shores.

But he added that Turkey had been unable to find any stolen Ukrainian grain shipments to date.

The head of the Russia-installed administration in the occupied region of southeastern Ukraine on Thursday announced the opening of a new route across the Black Sea from Berdyansk.

Evgeny Balitsky said on Telegram, “After numerous months of delay, the first merchant ship has left the Berdyansk commercial port, 7,000 tonnes of grain are heading toward friendly countries.”

Marinetraffic.com said the Zhibek Zholy was capable of carrying slightly more than 7,000 tonnes of cargo.

UN Urges World Action To Cut 1.3 Million Road Deaths In Half

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Zoe Maven

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July 2, 2022

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The UN General Assembly’s first high-level meeting on road safety has called for global action to cut the annual toll of nearly 1.3 million deaths and 50 million injuries in traffic crashes by at least half by decade’s end.

The political declaration adopted by consensus on the final day of the two-day session says traffic deaths and injuries not only cause widespread suffering for loved ones but cost countries an average of 3% to 5% of their annual gross domestic product.

The delegates urged all countries to commit to scaling up efforts and setting national targets to reduce fatalities and serious injuries as called for in the Global Plan for the Decade of Action for Road Safety 2021-2030.

Addressing Thursday’s opening session, UN Secretary-General Antonio Guterres said that road accidents are the primary cause of death globally of young people ages 5 to 29, and that nine out of 10 victims are in low- and middle-income countries.

He said,” Road fatalities are closely linked to poor infrastructure, unplanned urbanization, lax social protection and health care systems, limited road safety literacy, and persistent inequalities both within and between countries.”

The UN chief called for “more ambitious and urgent action to reduce the biggest risks; such as speeding, driving under the influence of alcohol or any psychoactive substance or drug, failure to use seatbelts, helmets and child restraints, unsafe road infrastructure and unsafe vehicles, poor pedestrian safety, and inadequate enforcement of traffic laws.”

He urged increased spending on improving infrastructure and implementing “cleaner mobility and greener urban planning, especially in low- and middle-income countries.”

Niger State Govt. Renovates General Hospital

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Olasunbo Okoromi

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July 2, 2022

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In an effort to enhance health care facilities across some health care centres in Nigeria, the Niger state Government in North Central Nigeria has began to remodel its General Hospital to smooth their operation and create a conducive working environment for health care givers in the state.
In an interview with LN247, the Medical Director of the hospital Dr Adedokun Ademola commented on the remodelling project of the general hospital.

“So far so good, the Niger state government under Governor Abubakar Sani Bello has demonstrated a good leadership character because this is one of the thing he promised to do and the project has begun and within the pace of eight weeks now there has being a speedy move of the project in the hospital.”
While commenting on the quality of the project, Dr Ademola explains, “The quality and pace of work is very fine both the government and the contractors handling the project are doing marvellously well to ensure the speedy completion of the project at the stipulated period of six months.”

He also commented on the new equipment’s of the hospital, “The project is about remodelling and re-equip and by the time the project is completed, new equipments will be fixed in the General hospital”.

Dr Ademola pointed out that the state government is presently compiling list of various health specialists for employment after the completion of the remodelling exercise for the smooth operation of the Hospital.

He appreciated the support of some stakeholders in the health sector in the state and beyond for their various donations with medical facilities and drugs which will go a long way in the Hospital, which is known to be one of the best health care centre in Niger state.

ECOWAS Summit To Determine Sanctions For Mali & Others

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Zoe Maven

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July 2, 2022

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Leaders of the Economic Community of West African States, ECOWAS are meeting at a highly anticipated summit in Accra, Ghana, on Sunday to decide on sanctions against Mali, Guinea and Burkina Faso, three countries that have suffered coups.

The West African leaders, who seek to push for a swift return of civilians to power, will consider the tough trade and financial retaliation measures imposed on Mali since January, and the lesser ones on Burkina Faso and Guinea.

Mali bled dry by a conflict that has lasted for more than a decade and is facing an embargo on trade and financial transactions, except for basic necessities.

Burkina, another country caught up in the jihadist turmoil, and Guinea are for the time being only suspended from ECOWAS bodies. But the juntas in power intend to remain there for three years and expose their country to tougher sanctions.

Hostile negotiations have been underway for months between the military junta in Mali and ECOWAS, but so far they have not led to a compromise.

The last summit, on 4 June, gave birth to a mouse: no decision was taken on sanctions against the coup regimes, and ECOWAS gave itself another month to negotiate and agree on whether to lift or maintain sanctions.

In the meantime, the mediator Goodluck Jonathan, former president of Nigeria, came to Bamako on Friday to meet with the military authorities. Although nothing has officially emerged from the talks, a member of his entourage told Newsmen that Mali has made enormous progress.

Persistent Power Cuts Leave South Africans Struggling In Dark

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Zoe Maven

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July 2, 2022

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In South Africa, citizens have been struggling in the dark to cope with increased power cuts that have hit households and businesses across the country.

The rolling power cuts have been experienced for years, but this week the country’s state-owned power utility, Eskom, extended them so that some residents and businesses have gone without power for more than 9 hours a day.

A strike by Eskom workers added to the utility’s woes including breakdowns of its aging coal-fired power plants, insufficient generation capacity and corruption, according to experts.

The prolonged power cuts are hitting South Africans in the winter months of the Southern Hemisphere when many households rely on electricity for heat, light and cooking.

Small and large businesses have had to close down for prolonged periods or spend large amounts for diesel fuel to operate generators.

There has been widespread anger and frustration among business owners and customers at the power cuts, which Eskom calls load shedding

Meanwhile Experts are warning that the power blackouts are here to stay, adding it will take years to substantially increase South Africa’s capacity to generate power.

South Africa mines coal and relies heavily on coal-fired plants, which causes noticeable air pollution.The country is looking to increase power production from solar and other renewable sources.

Economists also say the power cuts are costing South Africa well over $40 million per day and deterring investment.

South Africa’s economy, Africa’s most developed, is already in recession and is suffering a 35% unemployment rate.

Protesters Set Parliament Building Alight In Libya’s Tobruk

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Zoe Maven

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July 2, 2022

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Protesters stormed Libya’s parliament building in the eastern city of Tobruk on Friday, demonstrating against deteriorating living conditions and political deadlock, Libyan media reported.

Several television channels said that protesters had managed to penetrate the building and committed acts of vandalism, while media outlets showed images of thick columns of black smoke coming from its perimeter as angry young protesters burned tyres.

Libya’s parliament, or House of Representatives, has been based in Tobruk, hundreds of kilometres east of the capital Tripoli, since an east-west schism in 2014 following the revolt that toppled dictator Muamer Kadhafi three years earlier.

A rival body, formally known as the High Council of State, is based in Tripoli.

Later protesters began to break through the building’s walls with construction equipment while other protesters, some brandishing the green flags of the Kadhafi regime, threw office documents into the air.

Libya has endured several days of power cuts, worsened by the blockade of several oil facilities against the backdrop of political rivalries.

Two governments have been vying for power for months: one based in Tripoli, led by interim Prime Minister Abdulhamid Dbeibah, and another headed by former interior minister Fathi Bashagha, appointed by the parliament and supported by eastern-based strongman Khalifa Haftar.

Recent weeks have seen repeated skirmishes between armed groups in Tripoli, prompting fears of a return to full-scale conflict.

Protests took place in other Libyan cities on Friday including Tripoli, where protesters held images of Dbeibah and Bashagha crossed out.

Ghana Back To IMF As Economic Conditions Worsen

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Zoe Maven

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July 2, 2022

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Ghana’s president, Nana Addo Dankwa Akufo-Addo, has authorized Finance Minister, Ken Ofori-Atta to begin formal engagements with the International Monetary Fund, IMF, to support the country’s economy.

The country’s information ministry in a statement said the order follows a telephone conversation between President Akufo-Addo and the IMF Managing Director, Kristalina Georgieva.

The statement said the engagement with the IMF will seek to provide a balance of payment support as part of a broader effort to quicken Ghana’s build back in the face of challenges induced by the Covid-19 pandemic and, recently, the Russia-Ukraine crises”.

Ghanaians in recent months have been feeling the pinch of record inflation and the impact of the Russia-Ukraine war amid cuts in government spending to avoid a full-blown debt crisis.

According to a report by Graphic.com, Ghana’s economy grew by 3.3% in the first quarter of 2022 compared to the same period in 2021 and inflation surged to a record of 27.6% in May.

Aside from this, the country is also grappling with high debt and a depreciating currency, the cedi. A controversial tax on Electronic transactions (E-Levy) which was aimed at relieving some burden off the government is yet to generate any significant revenue.

There was a two-day protest in Accra this week over fuel price hikes, inflation and an economic downturn.

The Arise Ghana group said it wanted the government to cancel the Electronic Transaction Levy (E-levy) immediately and also take steps to reduce inflation and arrest the depreciation of the cedi to help bring relief to the Ghanaian people.

Burundi Celebrates 60 Years Of Independence

By

Zoe Maven

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July 2, 2022

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Burundi has celebrated the 60th anniversary of its independence in Bujumbura with a military parade and guests of honor from around the world.

During the ceremony, Burundi’s President Evariste Ndayishimiye hailed the new Burundi after 6 years and further advocated for a better tomorrow for the central African country.

He said,” After 60 years, Burundi is no longer the same, it is a new Burundi, it is for this reason that we must cherish the chapter that we have started, we must not deviate from the good path that we have taken”.

President Ndayishimiye further reckoned the underdevelopment status of the country linking colonizations as the root of ethnical vices like wars.

This, according to Evariste Ndayishimiye, has relegated the country to the bottom of the economic ladder. Burundi is ranked as the poorest country in the world by the World Bank.

Ndayishimiye also warned individuals who propagate instability against doing so and further warned western countries against harboring such individuals.

He said as long as these people have countries in which they can settle down and live in peace, they will continue to disturb African countries.

Ndayishimiye was elected in May 2020, raising hopes that the iron-fisted and repressive state would open up, which have since been dashed.

He succeeded the late president Pierre Nkurunziza, whose insistence on a third term in office in 2015 plunged the country into a serious and prolonged political crisis marked by summary executions, disappearances, arbitrary arrests and torture of dissidents.