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Nigerian Stocks Leap Higher, Market Capitalisation Rises

Nigerian stocks heaped up further gain on Friday, swelling 0.21 per cent and deriving drive from investor exuberance for the shares of United Capital and those of energy and consumer goods firms notably Total, Oando, Ardova, Guinness, Unilever, Cadbury, Vitafoam and Dangote Sugar.

Also supporting gains was the sweeping effect of a string of positive earnings news of firms like Cutix, United Capital and Total.

Tier 1 lender, Zenith, announced an interim dividend plan Friday, the same day its board endorsed its half-year audited financial report, which is to be issued anytime from now once the central bank’s nod is in place. Zenith’s shares gained 0.81 per cent following the news.

Market breadth, a measure of investors’ sentiment in the market, was broadly positive, with 30 gainers emerging relative to 11 laggards.

The all-share index lifted 82.38 basis points to 38,667.90 points, while market capitalisation rose to N20.147 trillion.

Year to date, the index is down by 3.98 per cent.

TOP FIVE GAINERS

Universal Insurance led gainers, appreciating by 10 per cent to close at N0.22. Oando added 9.97 per cent to end trade at N3.97. Totalenergies advanced by 9.96 per cent to N203.20. Cutix rose to N4.81, notching up 9.82 per cent in the process. Guinness climbed up by 9.14 per cent to N31.65.

TOP FIVE LOSERS

UPL topped the losers’ chart, declining by 9.03 per cent to close at N1.41. Champion Breweries shed 8.89 per cent to end trade at N2.05.

Red Star Express fell to N3.20, losing 3.03 per cent. International Breweries slumped to N5.20, recording 2.80 per cent depreciation. NAHCO closed at N2.20, going down by 2.65 per cent.

Israeli Panel To Review Potential Misuse Of NSO Spyware Around World

Israel has established a committee to review allegations that NSO Group’s controversial Pegasus phone surveillance software was misused, the head of Knesset’s Foreign Affairs and Defense Committee said Thursday.

“The defense establishment appointed a review committee made up of a number of bodies,” lawmaker Ram Ben-Barak told Army Radio.

“When they finish their review, we’ll demand to see the results and assess whether we need to make corrections,” the former deputy head of Israel’s Mossad spy agency added.

Ben-Barak said Israel’s priority was “to review this whole matter of giving licenses.”

Pegasus had “exposed many terror cells,” he said, but “if it was misused or sold to irresponsible bodies, this is something we need to check.”

In a statement on Monday, the Defense Ministry said if it finds that the NSO Group violated the terms of its export licenses, it will “take appropriate action.”

The ministry said that Israel only permits companies to export cybersecurity products to “government figures only for legal purposes and to prevent and investigate crimes and to combat terrorism. And this is dependent upon commitments regarding the end use/user from the purchasing country, which must abide by these conditions.”

Pegasus has been implicated in possible mass surveillance of journalists, human rights defenders and 14 heads of state, whose phone numbers were among some 50,000 potential surveillance targets on a list leaked to rights group Amnesty International and Paris-based Forbidden Stories.

U.S Passes Bill Banning Products From Xingjian Region

The United States has passed a bill banning all the products manufactured from Xingjian region.

The latest efforts by the US are to punish China for the forced labour and genocide of Uyghurs and other minorities in the region.

Senator Marco Rubio from Florida introduced the legislation with Senator Jeff Merkley of Oregon.

They said in a statement after the passage of the bill that the message to Beijing “and any international company that profits from forced labour in Xinjiang is clear: no more.”

It added that the US would “not turn a blind eye” to the ruling Chinese Communist Party’s “crimes against humanity,” nor “allow corporations a free pass to profit from those horrific abuses.”

Merkley noted that Uyghurs and other ethnic minorities in Xinjiang “are being forced into labour, tortured, imprisoned, forcibly sterilised, and pressured to abandon their religious and cultural practices by the Chinese government.”

“No American corporation should profit from these abuses,” Merkley said. “No American consumers should be inadvertently purchasing products from slave labour”.

Xinjiang products are deeply integrated into lucrative global supply chains, and Nike and Coca-Cola were among the major companies to have lobbied against the Uyghur Forced Labor Prevention Act, reported Axios.

President Biden Authorizes $100 million in Emergency funds for Afghan Refugees

U.S. President Joe Biden on Friday authorized up to $100 million from an emergency fund to meet “unexpected urgent” refugee needs stemming from the situation in Afghanistan, including for Afghan special immigration visa applicants, The White House said.

Biden also authorized the release of $200 million in services and articles from the inventories of U.S. government agencies to meet the same needs.

The United States is preparing to begin evacuating thousands of Afghan applicants for special immigration visas (SIVs) who risk retaliation from Taliban insurgents because they worked for the U.S. government.

The first batch of evacuees and their families is expected to be flown before the end of the month to Fort Lee, a U.S. military base in Virginia, where they will wait for the final processing of their visa applications.

About 2,500 Afghans could be brought to the facility, about 48 kilometers south of Richmond, the Pentagon said on Monday.

The Biden administration is reviewing other U.S. facilities in the United States and overseas where SIV applicants and their families could be accommodated.

SIVs are available to Afghans who worked as translators or in other jobs for the U.S. government after the 2001 U.S.-led invasion.

Israeli Prime Minister And UAE Crown Prince Discuss Bilateral Ties In First Call

Israeli Prime Minister Naftali Bennett spoke Friday with United Arab Emirates Crown Prince Mohammed bin Zayed al Nahyan, in his first call with the de facto ruler of the Gulf kingdom since becoming prime minister.

Bennett called bin Zayed to congratulate him on the Muslim holiday of Eid al-Adha and to discuss the burgeoning ties between the two countries, according to a statement from Bennett’s office.

“The prime minister thanked the crown prince for opening an embassy in Israel and for hosting the official visit of Foreign Minister Yair Lapid,” the statement said.

Bennett also noted the importance of the strategic relations between Israel and the UAE on a wide range of issues, saying that the attitude of the UAE toward Israel “was an important change and was an inspiration to other countries and leaders in the region.”

“The two agreed to be in contact and meet in the future,” the statement said.

The UAE confirmed the conversation and said that the two leaders “discussed cooperation relations between the two countries and ways to enhance them, in addition to a number of issues. Regional and international interests.”

“His Highness Sheikh Mohammed bin Zayed Al Nahyan also congratulated His Excellency on assuming the position of Prime Minister of Israel, expressing his aspiration to work together for peace, stability and development for the benefit of the region and all its peoples and the world at large,” the statement said.

Last month Lapid traveled to the UAE to open Israel’s embassy there, the first official visit by an Israeli minister to the Gulf state.

Jewish Artifacts Stolen during Holocaust now in US Custody

A trove of religious artifacts stolen from Jewish synagogues and homes in Europe during the Holocaust are now in the hands of US authorities who plan to return them to their communities of origin.

The authorities announced this week they had recovered 17 funeral scrolls, manuscripts and other historic records that were to go on auction in New York City. The items were traced to Jewish communities in Romania, Hungary, Ukraine and Slovakia that were ransacked during Nazi rule in World War II, federal prosecutors in Brooklyn said in a statement.

Acting US Attorney Jacquelin Kasulis said they “contain priceless historical information that belongs to the descendants of families that lived and flourished in Jewish communities before the Holocaust.”

The auction house, Kestenbaum & Company, said it had cooperated with authorities. The sale involved a private collector known for trying “to rescue and preserve Jewish historical documents that would otherwise have been lost,” it said in a statement provided Friday.

When provenance claims were raised, the World Jewish Restitution Organization was consulted, “after which we withdrew the property from the proposed auction,” the statement added.

The case has its origins from an era when members of the Jewish communities were banished to ghettos, robbed of their belongings and deported to Nazi death camps, court papers say. When survivors returned, they found their homes emptied of anything of value, including records dating from the mid-19th century.

California Launches First Statewide Free School Lunch Program In US

When classrooms in California reopen for the fall term, all 6.2 million public school students will have the option of free school meals, regardless of their family’s income.

The undertaking, made possible by an unexpected budget surplus, will be the largest free student lunch program in the country.

School officials, lawmakers, anti-hunger organizations and parents are applauding it as a pioneering way to prevent the stigma of accepting free lunches and to feed more hungry children.

Director of food services for the San Luis Coastal Unified School District on California’s central coast, Erin Primer, lauded the move adding that it was beyond life-changing.

Several U.S. cities including New York, Boston and Chicago, already offer free school meals for all but until recently, statewide universal meal programs were considered too costly and unrealistic.

California became the first state to adopt a universal program late last month, and Maine followed shortly with a similar plan.

Under federal rules, a family of four must make less than $34,000 a year to qualify for free meals and $48,000 to qualify for reduced-price meals.

The caps shift annually but are based on federal poverty measures that do not take into account the high cost of living and taxes in California.

About 60% of California students qualify, but experts say the number of children who need food assistance is much higher in a state with vast income inequality.

After schools shut in March 2020, many transformed their parking lots into pickup sites, and federal funding allowed schools to offer meals to anyone. There were no applications or qualifications, and no questions were asked.

The massive turnout showed how much families rely on the meals.

Schools rarely turn hungry kids away but for children who did not qualify and needed lunch, their parents were billed and many racked up huge debts.

Student Debt: South Carolina State University Erases $9.8 Million In Balances

A university in South Carolina announced that it would erase $9.8 million in student debts, clearing account balances for more than 2,500 students. 

South Carolina State University, a historically Black university in Orangeburg, said in a news release last week that the move will provide relief for students “who were previously unable to return to college due to financial hardship caused primarily by the COVID-19 fiasco.”

SC State University Acting President Alexander Conyers said in the release that the school is “committed to providing these students with a clear path forward so they can continue their college education and graduate without the burden of financial debt caused by circumstances beyond their control.” 

SC State University students lauded the move as a “big blessing,” according to Kevyn Rice, a junior at the school from Spartanburg, South Carolina.

The decision to erase the student debts will be funded by nearly $10 million the school received in federal aid. 

SC State University is utilizing approximately $4 million in funds from the Coronavirus Aid, Relief and Economic Security Act and $5.8 million from the American Rescue Plan Act.

Both pieces of legislation provided economic relief to Americans, businesses and other organizations. 

The South Carolina school is not the first to cancel debts from students in recent months. Wilberforce University announced last month it would clear more than $375,000 in debt, including fines, fees and other balances paid directly to the school. 

This month, the Department of Education canceled $55.6 million in student loan debt for 1,800 students who were victims of for-profit college fraud. 

President Kagame Of Rwanda Advocates For Girl Child Education

President Paul Kagame has called on global educationists to advocate and act to ensure girls have access to the digital resources and the skills they need.

Kagame was speaking during the ‘Building the Bandwith’ a virtual conference hosted by the Varkey Foundation, UNESCO, and CJ Cultural Foundation.

The meeting brought together education leaders to among others discuss ways to address the issue of women being left behind as technology advances.

In his remarks, the head of state shared Rwanda’s experience, saying that the current Covid-19 debacle significantly affected all aspects of national life, adding that education has not been spared.

However President Kagame hinted at the opportunity to re-engage in the cause of girl’s education so that they are not left behind.

He highlighted Rwanda’s efforts in making significant investments in digital infrastructure and training for the young people.

He revealed that the Rwanda Coding Academy admits 50 percent women and aims to resolve the shortage in engineers through a focused engineering program at high school level.

Similarly, Centres of Excellence in ICT, including Carnergie Mellon University-Africa, the University of Rwanda, and the AIMS, have dedicated scholarships for female candidates.

Narrowing this gap, he asserted, requires that governments sustain efforts for inclusive economic growth, guarantee security and community safety and continue to promote gender equality more generally.

Kagame reiterated the government’s commitment, as a key partner to UNESCO, regional and global initiatives to leverage technologies for girl’s education.

Education stakeholders say that over the last year, there has been a sudden and profound shift in the role of digital technology in education systems around the world.

Like Rwanda, many countries have turned to online learning platforms after temporarily closing their schools and other learning spaces due to lockdown measures imposed by the government.

However there are growing concerns that the global move toward online learning and other forms of educational technology could be leaving girls and young women behind which will consequently throw up another safety concern; girls’ safety online.

Educationists say, parents and caregivers can limit girls’ time online because of the heightened risk of sexual exploitation, cyberbullying and exposure to harmful content.

Mozambique Begins Investigation Into Illegal Employment of 88 Teachers

The Mozambican Education Ministry is working with the Attorney-General’s Office (PGR) to investigate how 88 teachers were hired illegally in Mecanhelas district in the northern province of Niassa.

All 88 were expelled from the Mecanhelas schools last week with no explanation as to how such a large number of people, who allegedly did not meet the requirements for teaching, were allowed to work in the first place.

Speaking to reporters in Maputo, Education Minister Carmelita Namashalua said the authorities “are following the matter closely, because this is a crime”.

She added that verification was under way in all the country’s districts to check that there are no other teachers working illegally.

She pointed out that all individuals who apply for jobs in the State must pass through a public tender, “and there are rules that must be strictly observed”.

In Mecanhelas, she continued, the next step would be to reorganize the working hours of the teachers, “because this is a district where teachers are not working full time. This is theft from the State. So we are organising so that every teacher has a complete timetable”.

She explained that the hiring of new teachers in 2019 and 2020 was illegal, because in those years the recruitment process was suspended.

Initially, 95 Mecanhelas teachers were regarded as illegal, but seven were allowed to continue teaching after their situation was regularised.