Obasanjo’s farm to generate 30,000 jobs for Liberians

Liberia’s Minister of Agriculture, Florence Chenoweth, says Obasanjo Farms in Liberia would create about 30,000 job opportunities for the citizens.

Chenoweth made the observation during the dedication ceremony of Obasanjo Farms Liberia Incorporated at Gbah Foboi, Grand Cape Mount County, in Liberia.

She noted that the Liberian government had focused its attention on the agriculture sector in its efforts to create jobs for the people.

She, however, urged legislators, chiefs and superintendents from Cape Mount County to advise youths in the area to seize the opportunities presented by the new farm to become productive, while ensuring the area’s development.

Chenoweth stressed that the establishment of Obasanjo Farms would help in addressing one the salient aspects of the government’s efforts to ensure food security.

She noted that more than 40 per cent of Liberian children had stunted growth, stressing the need to solve the problem by fast-tracking the production of eggs and poultry in Liberia.

Scarcity of aviation fuel: FG urged to give license to more independent marketers

Federal Government of Nigeria has been urged to give more license to independent fuel marketers in the aviation industry to allow them import JET A1 otherwise known as aviation fuel as a fast remedy to  the problem of  scarcity of the products before it gets out of hand.

Out-going Secretary General of the Airline Operators of Nigeria AON, Mohammed Tukur made the call while speaking with newsmen at the Murtala Muhammed Airport, Lagos.

According to Tukur, the major reason for the scarcity of aviation fuel is that, it is only one fuel marketer that is supplying the product at the moment stressing that if the government should allow other independent marketers into the system, the scarcity of aviation fuel will become a thing of the past.

Banks’ loans to agric sector has risen by 3.7% – CBN

Central Bank of Nigeria, CBN, says Deposit Money Bank’s credit to the agricultural sector has risen to over 3.7 per cent.

A statement from the CBN reveal that the  figure, which is for 2012, indicates an increase of 85 per cent over the two per cent growth of the agricultural sector share of banks’ credit five years ago. 

Also, data obtained recently from the Bankers Committee show that between July and November last year, the country’s lenders issued over N6 billion in credit guarantees to farmers.

Strauss-Kahn to face pimping trial

Former IMF chief Dominique Strauss-Kahn is to face trial on pimping charges, French prosecutors say.

Investigating magistrates have decided he should be tried in connection with an alleged prostitution ring at a hotel in Lille.

The former presidential hopeful has admitted attending sex parties there, but says he did not know that some of the women were paid prostitutes.

The case is the last of the sex-related allegations faced by Strauss-Kahn.

A series of lurid claims have been made about the high profile French figure since he was arrested in New York in May 2011 after a hotel maid said he had tried to rape her.

Charges were eventually dropped, and Mr Strauss-Kahn subsequently reached a settlement with the maid, Nafissatou Diallo.

Two other cases against him have also been dismissed.

An allegation of sexual assault in Paris in 2003 was not pursued because it had taken place too long ago.

US economy improving slowly, IMF says

Underlying condition of the US economy is improving, according to the International Monetary Fund (IMF).

However, the IMF added that the recovery from recession has so far been "tepid".

In its regular assessment of the economy, the IMF said the US still faces "powerful headwinds".

But it noted gains on stock markets and in house prices, and predicted that economic growth should gradually accelerate over the next year.

The IMF said the expiration of the payroll tax cut earlier this year and the impact of government spending cuts (through the so-called sequester) were "weighing significantly on growth this year".

However, further ahead, the IMF sees a slightly brighter picture and expects "economic activity to accelerate to 2.7% next year as the fiscal drag subsides and the negative legacies of the financial crisis wane further".

On unemployment, the IMF predicted that the rate would remain broadly stable this year, "reflecting the pickup in the labour force participation as discouraged workers return to the labour force".

It also expects the rate of unemployment to gradually fall in 2014.

EU and China reach deal in solar panel dispute

European Commission says it has reached "an amicable solution" with Beijing in a row over imports of Chinese solar panels.

Both sides have agreed a minimum price for the panels, EU Trade Commissioner Karel De Gucht said.

The dispute erupted after the Commission - the EU's executive arm - imposed temporary anti-dumping levies on the imports.

It argued that Chinese firms were undercutting rivals.

China is the world's largest producer of solar panels. Its exports to Europe totalled 21bn euros ($27bn; £18bn) in 2011.

"After weeks of intensive talks, I can announce that I am satisfied with the offer of a price undertaking submitted by China's solar panel exporters," De Gucht said on Saturday.

He added that the agreement would "lead to new market equilibrium at sustainable prices".

The anti-dumping case was the biggest ever undertaken by the Commission.

In June, the EU accused China of "dumping" solar panels in Europe - selling them at below cost to steal market share - and then said it would impose import tariffs of up to 47.6% on them.

China said EU farm subsidies had resulted in European countries "dumping" wine on China, and warned it may respond in kind.