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Economy

Catalan crisis: EU leaders rule out involvement in crisis

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…Aim to let Theresa May down gently over trade talks***

European Council President Donald Tusk has explicitly ruled out any EU action over Catalonia, despite the “concerning” situation.

“There is no room, no space for any kind of mediation or international initiative or action,” he said.

He was speaking at a joint news conference with EU Commission President Jean-Claude Juncker.

Catalans voted to secede in a 1 October referendum, which was outlawed by Spain and has prompted mass demonstrations.

Mr Tusk’s remarks came hours after Spain said it was beginning the process of imposing direct rule on the autonomous region.

“I am of course for many reasons in permanent contact with (Spain’s) Prime Minister Mariano Rajoy,” Mr Tusk said.

“There is no hiding that the situation in Spain is concerning, but our position… is clear.”

He was speaking ahead of an EU Council summit, but said the issue of Catalonia was “not in our agenda”.

Other European leaders, including Germany’s Angela Merkel and France’s Emmanuel Macron, also threw their support behind Madrid.

Meanwhile, Russian President Vladimir Putin said the crisis exposed Western hypocrisy, which backs some separatist movements but not others.

He argued that Western nations had supported the independence of Kosovo from Serbia – a Russian ally – but not Catalonia or for Iraqi Kurdistan.

He also raised the opposition of many nations to Russia’s annexation of Crimea from Ukraine in 2014, which resulted in international sanctions against Russia.

In the meantime, European Union leaders at a crunch summit dinner are set to rebuff Theresa May’s appeal for trade talks while they seek to publicly talk up her efforts in the Brexit negotiations because they fear that the prime minister’s domestic weakness will leave her unable to make vital concessions on Britain’s divorce bill.

The German chancellor, Angela Merkel, will lead European leaders in Brussels on Thursday in seeking to put the best gloss on their refusal to widen the talks, according to diplomatic sources. “There are ways to say it kindly and encouragingly or less kindly and less encouraging,” said one senior EU diplomat.

 

The member states are acutely aware that the prime minister needs to come out of the summit with her dignity intact if she is to get her cabinet and party to accept concessions on the divorce bill, estimates of which vary from about €60bn to €100bn (£54bn to £90bn). One diplomat said they feared it was “50-50” whether there would be an agreement at the next key European council summit in December that sufficient progress had been made in the Brexit talks, amid some concern in Brussels about the stability of May’s premiership.

May has asked to take the floor at a dinner at the European council summit on Thursday evening where she will emphasise the concessions made in her Florence speech, including the €20bn pledge to ensure no member state loses out in the years immediately after the UK leaves the bloc. She will call for both negotiating teams to show greater ambition in the coming weeks. However, she is not likely to make any additional offer.

A Downing Street source said: “The PM will reiterate her commitment to a successful Europe with the UK as a strong and committed partner. She will urge fellow leaders to focus on the shared opportunities and challenges ahead and encourage them to move the conversation on to focus on the future partnership and implementation period so that they are ready to engage in that discussion as soon as possible.”

May’s address is unlikely to receive an immediate response from the leaders around the table, who are determined to maintain their position that the Brexit talks must go through the the EU’s chief negotiator, Michel Barnier. Draft conclusions insisting that there has been insufficient progress, in particular on the financial settlement, are also unlikely to be changed by the leaders.

However, the member states believe the instability of the British government makes it vital for them to soften the blow for the prime minister, who will need to take the political risk of further major concessions on the financial settlement in the weeks to come if she is to unlock what Barnier described as a deadlock in the talks.

It is believed the Dutch government, led by Mark Rutte, has particularly championed a warm welcome for May.

On Wednesday it emerged that Downing Street had once again been forced to delay bringing the EU withdrawal bill back to the House of Commons as it struggles to respond to hundreds of hostile amendments, which are said to have sufficient support among Tory MPs to potentially inflict a defeat on the government.

Aleš Chmelař, the Czech state secretary for European affairs, told the Guardian the EU needed a strong negotiating partner and that recent signs of economic instability in the UK, which could affect the political situation, were particularly concerning.

“We have been looking at the economic news, that looks quite worrying,” he said. “Economic growth is behind that of the eurozone. We want a strong partner in the talks. It is not in our interests for the political situation to get more difficult. We need stable leadership so we can have clear statements in the negotiations. And someone who can convince the political sphere as well as the public.”

In unusually candid remarks on British political uncertainty, a Finnish state secretary, Samuli Virtanen, admitted this week that May’s position was “one of the things that makes this [Brexit] process more difficult because it seems at the moment the EU27 is more unanimous than UK one”.

A London-based EU diplomat said: “It is Germany not France that is taking the toughest line. It is partly they have a more legalistic approach, but they also think British politics is so unstable, concessions at this stage are premature. They think Theresa May’s position is not very strong.”

The sources confirmed they feared the dynamic of any Conservative leadership battle would lead to a push for a harder line on Brexit, and a new Tory prime minister would pocket any concessions and then demand more.

Phil Hogan, the Irish commissioner for agriculture at the EU, warned on Wednesday of the malign influence of the Brexiters within the Conservative party.

“What becomes more obvious day-by-day is that the Brexiteers are hooked on brinkmanship – and have been since the beginning. Unfortunately, their only approach is the tough-guy approach. The hardliners cannot get out of their head the idea that if they bully their way towards the wire, the ‘Union’s nerve will crack’,” he said.

“I fear that in the UK debate, common sense left the building a long time ago. Unfortunately, facts and details are derided by the Brexiteers.”

Analysis Brexit deadlock means time is running out fast for businesses

In the absence of progress business leaders will be soon be forced to make irreversible decisions on future investment and employment

The comments came as four Tory former cabinet ministers – Lord Lawson, Owen Paterson, John Redwood and Peter Lilley – called on May to walk away from the talks with no deal if the EU continues to refuse to discuss trade.

In a letter organised by the Leave Means Leave campaign, they said the UK should “concentrate our resources on resolving administrative issues” before leaving with no deal in March 2019.

Officials in Berlin and PaOn Wednesday, officials in Berlin and Paris were already seeking to talk up May’s efforts to break the impasse in the negotiations.

A German government source said: “We believe that a whole lot has already happened and, regarding an issue which is of particular importance to us, that of the rights of citizens, we’ve advanced considerably.

“I believe that the big questions about the future relationship between Britain and the European Union are of far more importance than the current dispute about finances.”

A French source said of Emmanuel Macron’s attitude: “We must not give in to a confrontational mindset. We are not in a mood for punishment or presents. Our goal is that the requirements are met before moving to phase two. Keep calm and maintain the mandate. It is in the interest of the British and the 27. We will be a demanding partner, transparent and predictable.”

A summit on 14 December is now the deadline when EU leaders will judge whether the UK has made sufficient progress on the divorce issues that will allow talks to progress to trade.

Between this week’s European council summit and then, the EU member states are set to prepare their vision for a transition period and a mandate for Barnier to talk trade with the UK should sufficient progress on citizens’ rights, the Irish border and the financial settlement be made.

EU’s collective hope and expectation is for a deal in December, but diplomats insisted this need not be the end of the road. “If not, no one will be ready to throw in the towel, but we will be ready to think of another milestone, another threshold of time to move on.”

BBC with additional report from Guardian

Economy

NRC Flags-off 2024 Annual Capital Procurement Process, With 524 Bidders

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NRC Flags-off 2024 Annual Capital Procurement Process, With 524 Bidders

The Nigerian Railway Corporation (NRC) flagged off Thursday, its annual Capital procurement process for 2024 at the National Headquarters in Ebute Metta, Lagos.

The Maritime First learnt that the significance of this exercise was to ensure transparency in the selections of the most competent bidders among the 524 documents that bidder.

The Managing Director/ Chief Executive Officer, Engr. Fidet Okhitia was represented, by Dr. Monsurat Omotayo flagged off the exercise. 

In her remarks, she promised it would be a transparent exercise, even as she identified some of the challenges before they arrived at the present state of the exercise.

She however noted that placing two Adverts, on the nation’s national daily was not planned for initially.

According to the Director of Procurement, NRC, 524 companies bid across the three categories, as published in the National newspapers.

The Categories were: 

*Works, comprising renovations, growth, and repairs of locomotives, coaches and rolling storks.

*Services, covering business concerns bordering on insurance, and alternative revenue generation.

Goods, which touches on supplies of lubricants, diesel (AGO), spare parts, and track materials.

Amongst the audience were professional evaluators, and representatives of the Federal Ministry of Transport, Chartered Institute of Purchasing and Management Supplies. 

Others were Non-governmental organizations like the Civil liberty, Professional bodies, Outside observers, and the members of the Fourth Estate.

Engr. Fidet Okhiria

Participants were made to register their details at the entry point. While, the Health Safety and Environment (HSE) was also on ground to ensure adequate care, and to nip in the bud, any health challenges.

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Economy

Naira Loses 6% Against Dollar At Official Market

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Naira Loses 6% Against Dollar At Official Market

The Naira on Monday slightly depreciated at the official market, trading at N1,234.49 to the dollar.

Data from the official trading platform of the FMDQ Exchange, which oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira lost N64.50.

This represents a 5.51 per cent loss when compared to the previous trading date on Friday, April 19, when it exchanged at N1,169.99 to a dollar.

However, the total daily turnover increased to 110.17 million dollars on Monday, up from 86.68 million dollars recorded on Friday.

Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,295.00 and N1,051.00 against the dollar.

CBN Governor, Yemi Cardoso, on Saturday, April 20, 2024, said the apex bank was doing everything possible to achieve a stable exchange rate.

He said the apex bank was also working to ensure that the exchange rate found its adequate price discovery level.

Cardoso said that CBN’s foreign exchange reforms were paying off and had made the naira the best-performing currency globally.

He spoke at a press conference during the annual meeting of the International Monetary Fund (IMF) and World Bank Group.

He predicted ups and downs but assured the global economic community that the Naira would steadily gain against foreign currencies.

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Economy

Unstable Economy: UK Firm Presents Solutions To Nigerian Business Leaders

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SOAN Inaugurates New Leadership, Boosting Hopes Of Crushable Inflation

Nigerian business leaders are to benefit from the programme of United Kingdom-based leadership development organisation TEXEM UK on how to win despite the exodus of staff, very high inflation and turbulent operating landscape.

TEXEM’s Director of Special Projects, Caroline Lucas, said on the organisation’s website, www.texem.co.uk, that the programme with the theme “Strategies for Sustainable Organisational Success” is slated for April 24 and April 25 in Lagos.

According to Lucas, in today’s volatile and disruptive business landscape, organisations face numerous strategic challenges.

“TEXEM’s programme, “Strategies for Sustainable Organisational Success,” offers tailored solutions to address these pressing issues.

“Senior leaders grappling with skyrocketing costs, high currency risks, and disruptive technologies require practical insights and tools to navigate uncertainty effectively.

“This programme provides actionable strategies for sustainable success amidst turbulent times,” she said.

Lucas asserts that exceptional crisis management skills are essential in the face of staff exodus and geopolitical disruptions.

“TEXEM equips participants with the necessary leadership capabilities to lead through crises, ensuring organisational excellence even amidst adversity.

“Innovation becomes imperative in turbulent waters.

“TEXEM’s programme fosters a culture of innovation and provides guidance on harnessing adversity as a catalyst for profitable growth,” she said.

According to her, participants will learn to turn challenges into opportunities, driving sustained profitability.

Lucas said resilience and effective risk management are crucial in today’s volatile landscape.

She said through interactive sessions and case studies, TEXEM helps senior leaders develop unshakable qualities, enabling them to navigate uncertainty and confidently mitigate risks.

“Optimizing resource utilisation is paramount amidst soaring costs.

“TEXEM offers insights on managing resources efficiently, ensuring optimal impact even amidst cost pressures. Decisive problem-solving is paramount.

“TEXEM enhances participants’ decision-making capabilities through peer learning and observation practice, empowering them to make better decisions that drive organisational success,” Lucas said.

She said that beyond the curriculum, networking opportunities with industry peers enrich the learning experience, abound.

“Professional exchange provides valuable insights into different approaches to overcoming challenges, enhancing overall learning and impact.

“TEXEM’s programme aims to develop leadership strategies for optimum performance in an era of uncertainty.

“By helping participants understand how to manage and deploy resources more efficiently, it equips them with the skills needed to thrive in turbulent times,” Lucas said.

Saying that adversity is the mother of innovation, she added that TEXEM empowers individuals and organisations to thrive in volatile times, fostering innovation and sustained profitability.

“At the end of the programme, participants can expect to develop leadership skills for better decision-making and possess survival skills to navigate crises effectively.

“Through its comprehensive approach and proven methodology, TEXEM ensures participants unlock their potential, foster innovation, and drive sustained profitability in today’s challenging environment,” Lucas said.

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