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DMW Rapper Dremo teams up with label mate multitalented act Mayorkun (of lay lay) The Mayor of Lagos to deliver this party jam titled “E Be Tins”. This new song is dance track produced by Fresh VDM, an heavy amapiano record with a blend of the Afrobeat sound.
Year: 2020
Song: E Be Tins
Artist: Dremo “DMW”
Album: N/A
Feat: Mayorkun “DMW”
Prod: Fresh VDM
“E Be Tins” is Dremo’s first single after the success of his Codename Album released earlier this year (in April).
His first outing this year 2020 was Chairman Remix featuring Zlatan. To wrap up the year and success achieved so far both with music and his engineering skills, Dremo decided to bless our playlist with ‘E Be Tins’ and leave us with a dance track for the season. Heavy on Amapiano from Producer Fresh VDM and Melody from Mayorkun this song will rock your playlist and burst speakers.
#NobleSong
As the global stigma of COVID-19 gradually reduces, NCDC alleges smooth and close recoveries to total infections in Nigeria.
Nigeria reports 246 cases of COVID-19 as total death toll hit 1,171.
The Nation have since April, 2020 suffered over 67,000 cases as total infections hit 67,220 and total recoveries and discharge stands at 62,686.
Lagos, FCT & Plateau reports highest cases of 81, 73 & 39 respectively as Ekiti, Taraba & Kano State reports lowest case(s) of 2 each.
Newest cases of 246 was reported from 10 states.
Stands•
246 new cases of #COVID19Nigeria;
Lagos-81
FCT-73
Plateau-39
Kaduna-25
Ogun-13
Bauchi-5
Rivers-4
Ekiti-2
Taraba-2
Kano-2
67,220 confirmed
62,686 discharged
1,171 deaths
#Newsworthy
Marlian Music releases a new banging titled “Kilofeshe” by one of the Marlian soldiers, ZINOLEESKY.
Year: 2020
Song: Kilofeshe
Artist: Zinoleesky “Marlian Music”
Album: N/A
Feat: N/A
Prod:
The fast rising singer, was discovered alongside Lil Frosh during the ‘Firi Yahoo’ Era. He pushed his craft gradually till he finally got a record deal with Naira Marley late last year (2019).
To set off as a Marlian soldier (Naira Marley’s Protege) he dropped the amazing record CARO his debut. The song “Caro” was produced by Rexxie, it’s about a lady that was in love with money, who wanted to play smart on her Black skin boyfriend….
#NobleSong
Some other residents complained of accessibility of roads on the GRA to commercial vehicles, which they claimed caused increased vehicular traffic and quick road degeneration.
Lagos State Government has raised alarm over continued theft of manhole covers on roads in the state, promising to continually pursue infrastructure delivery that would meet needs.
Mrs Aramide Adeyoye, Special Adviser to the state Governor on Works and Infrastructure, raised the alarm at a stakeholders’ meeting for the rehabilitation of Sobo Arobiodun Street in Ikeja GRA.
She was responding to concerns raised by some residents over missing manholes in some parts of the GRA, constituting danger.
Adeyoye said that she was saddened by continued `serial’ vandalism of manholes in the state.
“It grieves my heart that it is not because the state government has not provided the manholes.
“Eric Moore Road was constructed eight or 10 years back with every manhole on that alignment but if you go there now, 90 per cent of those manholes is gone.
“They are gone not because government has not provided them, but because of the serial vandalism that we have seen taking place.
“On most of our major roads, they are gone,’’ she said.
She said that influx of people had made scavengers to steal manhole covers for sale, adding that some other residents turned them to refuse cans.
She appealed to the residents to assist the government to take ownership of manhole covers and other road infrastructure to prevent their damage.
Adeyoye added that the state government would revisit its environmental laws to profile scavengers to ensure they would not sell stolen road infrastructure.
She said that the Sanwo-Olu administration was following a standard operating practice which must include stakeholders’ input so that people would understand projects and get involved.
She said the planned rehabilitation of Sobo Arobiodun Street in Ikeja GRA was in line with the Urban Regeneration Intervention Programme which recommended upgrading of road infrastructure within Ikeja Government Reservation Area (GRA).
“Sobo Arobiodun is a major arterial which connects directly, Bank Anthony Road to Oba Akinjobi Street and interconnects eight roads to form a network.
“The road is for you, and we need to have your buy in so that there will be less friction during the course of the project,’’ she said.
She said that the road was located in a high-end residential area with commercial businesses, adding that its construction would improve socio-economic activities due to its interconnectivity with other roads in Ikeja.
She said that the construction which included provision of a functional drainage system would eliminate gridlock and reduce travel time.
Adeyoye also said that the government would address other issues raised at the meeting including security challenges and inadequate laybys.
A town planner from the state Ministry of Physical Planning and Urban Development, Mr Akeem Animasaun, said the Right of Way (RoW) recovery would follow due process.
He said that staff of the ministry would be visiting the site in collaboration with some other ministries to mark affected buildings in line with dimensions given to the ministry.
The General Manager, Lagos State Parks and Gardens, Mrs Ibilola Popoola, said that an assessment of the green areas had been done and 75 trees on the RoW would be given the right treatment.
She said that those constituting nuisance due to old age would be removed and viable ones transplanted.
She said that on completion of the road, the remaining portions would be landscaped and trees replanted.
“We have estimated that we should be able to plant about 200 to 300 trees depending on what is on ground including grass,’’ she said.
Dr Muize Banire, a three-term Lagos State Commissioner, thanked the government for the project but noted that heavy trucks were going through the GRA.
He promised cooperation of residents and urged that a maintenance package should go with the contract for the contractor to maintain the road for some time.
Banire who is the Ikeja Residents Association Chairman called for measures on Adekunle Fajuyi Road – a major road linking a rail line and has a lot of pot holes.
He called for increased budgetary allocation to tackle flooding on the Remi FaniKayode Road.
He also called for fixing of emerging potholes on Isaac John Street while urging improved street lighting facilities in the area.
A representative of the contractor, Mrs Grace Okoya, while giving a brief of the project, said that the contractor had the capacity to handle the project and assured commitment to deliver high quality work.
She said that the delivery period would be 12 months but cooperation of stakeholders could reduce the completion period.
#Newsworthy
Similarly order was issued to Cool FM radio station in Kano to suspend airing of commercial jingles on ‘Black Friday’ in the state.
The Kano State Hisbah Board has directed immediate suspension of the yearly ‘Black Friday’ promo by popular shopping mall, ShopRite, in the state.
Amotekun, IPOB are illegal, Hisbah, Ok – FFK reacts
In a release signed by its Principal Executive Officer II, Abubakar Mohammad Ali, the Board yesterday threatened to sanction any of entity that failed to comply with the directive.
According to the statement, which was addressed to the manager of Cool FM and ShopRite Kano office, the use of ‘Black Friday’ to depict sale promo in a Muslim-dominated state, like Kano, was insensitive.
Just in: First Kano female hisbah commander dies at 55. [Nigeria]
Hisbah said it took the decision following a complain from a concern resident, adding: “We expressed concern about the commercial tagged of Friday as ‘Black Friday’ and further inform you that the majority of inhabitants of Kano State are Muslims that considered Friday as holy day.
“In view of the foregoing, you are requested to stop the commercial with immediate effect. Hisbah corps would be around to ensure surveillance to maintain peace and harmony in the state.”
Efforts to speak to management of ShopRite and Cool FM in Kano were not successful, but The Guardian’s check indicated that the promo had already been suspended.
#Newsworthy
Local authorities had confirmed Fakhrizadeh’s death several hours earlier and also said that several attackers were killed.
Iran’s Foreign Ministry on Friday confirmed that a high-ranking Iranian nuclear physicist, Mohsen Fakhrizadeh, had been assassinated.
Fakhrizadeh was shot and injured “by terrorists” in his vehicle in Ab-Sard, a suburb in eastern Tehran, and later succumbed to his injuries in what amounted to a “martyr’s death,” the ministry said.
Fakhrizade, 63, had been a member of Iran’s Revolutionary Guard and was an expert in missile production.
NoRM‘s known Media agency alleged that this was why Israeli secret services had long sought to eliminate him for many years.
Earlier, Iranian Atomic Energy Organisation (AEOI) Spokesman, Behrus Kamalwandi, caused confusion by denying reports of the death, saying, “our nuclear scientists are all well.”
The confusion arose because Fakhrizadeh had left the AEOI and had been working at the Foreign Ministry.
#Newsworthy
Jonathan lost to Buhari in the 2015 general elections, but he has since taken up several diplomatic assignments across the continent.
The All Progressive Congress (APC) on Friday said former President Goodluck Jonathan has supported the current administration despite being a card-carrying member of the Peoples Democratic Party.
APC Spokesman, Yekini Nabena, made the comment while appearing on Channels Television’s Politics Today.
Also appearing on the show was PDP spokesman, Mr Diran Odeyemi who said a number of APC governors are set to defect to the PDP.
“Goodluck Jonathan has been working for this government,” Mr Nabena said. “He has been going to all African countries. If he is not a progressive person, he won’t have been working for this government. So the PDP should also know that.”
Recently, the ex-President led talks that helped to de-escalate the crisis in Mali.
Mr Nabena, on Friday, argued that Jonathan’s work is evidence of the APC’s progressive streak.
However, Mr Odeyemi disagreed, reiterating that the APC is set to witness a couple of top defections to the PDP.
“Many APC Governors are talking to us,” Mr Odeyemi said. “Perhaps Nigerians have not seen the end of these activities. More Governors from APC are coming to join us. And I’m saying it with all emphasis.
“The question we have to ask ourselves is, what has been the achievements of APC now, that will now warrant people to join them, if not for selfish reasons? Nigeria knows which party to vote for in 2023 and that’s what we rely on.”
#Newsworthy
A woman allegedly killed her mother and chopped the body into pieces in Ikot Ekpene, Akwa Ibom. NoRM confirmed
According to an eyewitness, Emmanuel Umanah, who posted the photos from the crime scene, the shocking incident happened at Umoh Obot road off Nto Akpan Inyang Street in Ikot Ekpene.
NoRM saw graphics of the woman forced to hawk the body parts of her self-murdered mother in a steel bowl.
Some of the photos (intentionally hidden by NoRM but can be seen in other news platform) shows the suspect carrying the body pieces in a bowl before she was tied up and bundled into a police van.
#Newsworthy
The police spokesman said that they eventually succeeded in taking the baby to an unknown destination three days after delivery.
The Kaduna State Police Command says it has arrested three suspects for stealing a three-day-old child in Kaduna.
The command’s Public Relations Officer, ASP Mohammed Jalige, made the disclosure in a statement issued on Friday in Kaduna.
Jalige said that on Nov. 9, the command received a complaint of a missing three-day-old baby boy.
He explained that on receiving the complaint, the operatives of the command immediately swung into action, gathered sufficient intelligence and succeeded in arresting the suspects.
Jalige identify the three suspects, whose age ranged between 19 and 30, were all resident of Abuja Road, Rigasa area of Igabi Local Government Area of the state.
He said that the suspects started nurturing the evil plan during the early period of the child’s pregnancy by coming closer to the expectant mother under the guise of making friends with her.
He disclosed that the suspects were arrested by the command’s operatives on Nov. 26 at about 1 pm. from their hideout at Unguwan Baraya, Jos Road, Bauchi, while the baby was recovered safely and handed over to his parents.
“Upon investigation, the suspects confessed to the crime and they will be charge to court to face the consequences of their action,” he said.
Jalige quoted the Commissioner of Police in the state, Mr Umar Muri, as urging the people of the state to be wary of those they entrust their children and wards to, to avoid a repeat of such incident.
“Children are precious gifts from God and they should be guided with all levels of solemnity, ” he said.
He equally urged them to always report suspicious person(s) to the nearest police formation for immediate intervention.
#Newsworthy
The Federal High Court, Abuja, on Friday, released Sen. Ali Ndume on bail after spending five days in Kuje Correctional Centre.
Justice Okon Abang, who gave the ruling, said the court decided to exercise its discretionary powers based on Ndume’s good conduct in the course of the trial of Abdulrasheed Maina, former Chairman, defunct Pension Reformed Task Team (PRTT), for whom he stood surety.
NoRM reports that Ndume (APC-Borno South) was remanded in prison custody after Maina was said to have jumped bail.
#Newsworthy
It was unclear Friday whether the attack on Mekele had begun, or how close federal forces were to the city
Ethiopian Prime Minister Abiy Ahmed on Friday met with African Union envoys to discuss the conflict in Tigray, where the army is poised for what he has called the final offensive against regional forces.
Abiy, the winner of last year’s Nobel Peace Prize, on Thursday announced a “third and final phase” in his campaign against the Tigray People’s Liberation Front (TPLF), whose forces have been battling federal troops in the defiant northern region for three weeks.
The violence has killed many hundreds and displaced tens of thousands more, but there are grave fears for half a million civilians in Mekele, the regional capital, which the army says it has encircled ahead of a threatened attack.
The international community has warned such a strike could violate rules of war and has called for urgent mediation.
Addis Ababa has refused to negotiate with the TPLF and Abiy has rebuffed calls for dialogue as “interference” in Ethiopia’s internal affairs.
But the prime minister received at his office in Addis Ababa on Friday three African ex-leaders — Joaquim Chissano of Mozambique, Ellen Johnson Sirleaf of Liberia and Kgalema Motlanthe of South Africa — dispatched this week by the AU as mediators.
In a statement issued after their meeting, Abiy said he appreciated “this gesture and… the steadfast commitment this demonstrates to the principle of African solutions to African problems.”
Even so, the government has a “constitutionally mandated responsibility to enforce rule of law in the region and across the country,” he said.
Many attempts, he added, had been made to negotiate with the TPLF before military action was ordered on November 4.
The conflict has erupted in a year when the 55-member AU — which is headquartered in Addis Ababa — resolved to play a more prominent role in resolving conflicts across the continent under the slogan “Silencing the Guns”.
The AU called for an immediate halt to hostilities on November 10 but the conflict only spiralled further, with warplanes bombing the mountainous region and both sides claiming the upper hand.
Humanitarian crisis
Tigray has been under a communications blackout since fighting began, making it difficult to weigh competing claims about casualties, and who holds what territory.
The state-affiliated Ethiopian Broadcasting Corporation said late Thursday the army — which in recent days said it was advancing on Mekele with tanks — had identified key TPLF hideouts across the city, including an auditorium and a museum.
Abiy, who ordered the strike on TPLF forces in Mekele after the lapsing of a deadline for their surrender, said “great care” would be taken to protect innocents and spare the city from severe damage.
The prospect of a full-scale attack accelerated diplomatic efforts this week to resolve the conflict, with the UN Security Council holding its first meeting on Tigray and US and European officials urging restraint.
French Foreign Minister Jean-Yves Le Drian, who met his Ethiopian counterpart Demeke Mekonnen in Paris on Thursday, called for urgent measures to protect civilians as the humanitarian fallout from the crisis worsens across the region.
The UNHCR said Friday that nearly 100,000 Eritrean refugees in Tigray could run out of food as early as Monday if supplies cannot reach them.
In eastern Sudan, meanwhile, where more than 40,000 refugees have escaped the fighting in Tigray, local authorities are struggling to meet the sudden surge in demand for food, shelter and other life-saving essentials.
The UNHCR said Friday that a plane carrying 32 tonnes of emergency aid had arrived in Sudan, and another airlift with 100 tonnes was expected Monday.
Refugees crossing the border said those still trying to reach Sudan were cutting across fields to avoid detection by Ethiopian troops, who they said were blocking the main exit route from Tigray.
Abiy ordered the military into Tigray after alleged attacks by TPLF forces on federal army camps in the region.
The TPLF dominated Ethiopian politics and controlled its security for the better part of three decades until Abiy rose to power in 2018, beginning a power struggle between the former rulers and the new leader.
#Newsworthy
The provost further said that the college had an International Computer Driver’s License (ICDL).
The Kwara State College of Education, Ilorin wants the state government to upgrade the school to University of Education to further produce qualified manpower for the nation.
Provost of the institution, Dr AbdulRaheem Yusuf, disclosed this in an interview with NoRM‘s known Media in his office in Ilorin on Friday.
Yusuf said that since the establishment of the institution in 1974, the school had produced good ambassadors representing the country in different areas of development.
“If we can upgrade the College into University of Education, the issue of subvention can be a secondary thing, as more students will enroll into the institution in order to obtain their degree certificate,” he said.
The provost said the school management had made a proposal to the government on the upgrading and strongly believed that it would be approved.
“We are moving forward in terms of development of our staff and that of the students.
“All our staff now are computer proficient and have undergone series of training, because there is need for upgrade,” the provost explained.
Yusuf said that the college had entered partnership with different organisations in terms of entrepreneurship, and the Entrepreneurship Grooming Institute (EGI) is establishing its centre in the institution.
“The establishment of the centre means that the students will be taking more than a certificate, as they will take the NCE certificate and the entrepreneurship certificate
“We are much aware that the future may not depend only on the academic certificate, so we want to build students that will be job creators and not job seekers,” he said.
“Before anybody can be issued the license, that person must undergo training and pass the exam, and all our staff that participated in ICDL training passed
“An ICDL centre will soon be established in the institution, so that the college will be a centre for training,” he said.
Yusuf added that all the college students were made to undergo Google Ambassador Training and the agent of Google recently visited the school to lecture them.
“We believe that with the ICDL and Google Ambassador certificate, the students will graduate as empowered citizens, with which they will not only be teachers, but a better person in the society,” he said.
#Newsworthy
Fresh clashes over Karabakh erupted in late September and ended after Azerbaijani forces had reclaimed large areas from Armenian control.
Dressed in impeccable camouflage fatigues with Kalashnikovs slung over their shoulders, Russian peacekeepers stand guard along the last road linking Armenia with the restive region of Nagorno-Karabakh.
After meticulously writing down a car’s registration number in a large notebook, a soldier stands aside to let the driver pass and wishes him a good journey.
“When the peacekeepers arrived, the situation became calmer than during the war. It’s reassuring,” says Erik Tovmasyan, who is driving from Karabakh’s main city Stepanakert to the Armenian capital Yerevan for eye surgery.
For Armenians still reeling from defeat in recent fighting with Azerbaijan, the peacekeepers who deployed under a Moscow-brokered peace deal are a welcome presence.
But with the region surrounding the road set to be handed back to Azerbaijan next week, many here are facing an uncertain future.
Russia has sent 2,000 peacekeepers to the region under the deal that ended six weeks of heavy fighting over Nagorno-Karabakh, an ethnic Armenian enclave that broke away from Azerbaijan’s control in a war in the 1990s.
The peacekeepers have deployed between the two sides including along a 60-kilometre (35-mile) stretch connecting Stepanakert with the Armenian border in the south.
Strategic road
The strategic road runs through the Lachin district, the third and last territory near Nagorno-Karabakh that Armenia will cede to Azerbaijan on December 1 under the peace deal.
Two other districts — neighbouring Kalbajar and Aghdam to the northeast — were returned to Azerbaijan earlier this month.
In its northern part, the Lachin corridor diverges towards Shusha, a strategic and historic town overlooking Stepanakert that was captured by Azerbaijan in a pivotal moment of the war.
The small road leading to Shusha is blocked by soldiers from Baku, who are positioned close to the Russians.
AFP journalists passing nearby could hear Azerbaijani songs and music broadcast over loudspeakers from their position.
“They do it from time to time,” says one of Moscow’s soldiers.
At another checkpoint on a road leading into the town, an Azerbaijani special forces captain tells AFP that the situation inside is calm.
“There are only soldiers in Shusha,” says the officer, who will not give his name. “Civilians (Azerbaijanis) come from time to time only to repair infrastructure” damaged in the fighting.
When Armenian separatists gained control of these districts three decades ago, local Azerbaijanis fled the territories and Armenians moved in.
Now, it is the Armenians who are deciding whether to abandon their homes, fearing what will happen when Azerbaijanis return.
‘Nowhere to go’
In the town of Lachin, at the heart of the five-kilometre-wide (three-mile-wide) corridor, the manager of a grocery store is wondering what to do.
“We have no information about whether we should leave,” says the man who does not wish to give his name, adding that he hopes to keep his store.
In front of his shop, 81-year-old Margarita Khanagyan leans on her cane as she stands next to an armoured vehicle belonging to the Russian peacekeepers.
“I left during the war, then we were told to come back and I came back. Now we have to leave again, but to where?”
Uncertainty also looms over the village of Aghavno, the last residential area before the border with Armenia where several dozen houses were built 10 years ago, just below the road.
Men here are always carrying rifles, prepared to defend themselves at any moment.
“They can’t scare us,” says village head Andranik Chavushyan, 39. “We will still be living here.”
Standing next to him, Narine Rasoyan begins to cry.
Pregnant with her sixth child, Rasoyan lost her husband in the recent fighting.
“I have nowhere to go with my five children, where would I stay?” she says through her tears. “Let them give me a house and I will leave.”
#Newsworthy
France took the unusual step Thursday of allowing its winter sports resorts to stay open but ordering ski lifts to stay shut.
Germany, once a beacon of hope in Europe’s coronavirus nightmare, logged its one-millionth case on Friday, as Russia announced a partnership with India to mass-produce its controversial Sputnik vaccine.
Like much of Europe, Germany is battling a resurgence of a pandemic that is filling hospitals and forcing countries to shut down for business while they wait for help from a clutch of vaccines that could start rolling out for use next month.
Some of the excitement about the new jabs dampened when Britain’s pharmaceutical giant AstraZeneca admitted that further research was needed after a mixup in its third-stage trial.
But Russia unexpectedly stepped in with an announcement that an Indian generic drugmaker would start producing 100 million doses of its government-backed vaccine in early 2021.
Germany had largely contained the spread when the virus descended on Europe from China at the start of the year after first emerging in December in the Chinese city of Wuhan.
Yet its careful approach failed to avert a second wave, imperilling the health of Europe’s biggest economy and dampening the mood heading into the winter holidays.
Germany’s Robert Koch Institute recorded more than 22,000 new daily cases on Friday, pushing the country’s total beyond the one million mark.
More worryingly, number of Covid-19 patients in intensive care soared from around 360 in early October to more than 3,500 last week.
It has shuttered restaurants, bars, sporting facilities and cultural venues, though schools and shops remain open.
‘I won’t take it’
Globally, more than 1.4 million deaths and nearly 61 million infections have been recorded, according to a tally compiled by AFP from official sources.
Most countries hope to ease their virus rules for Christmas and New Year, allowing families a respite before bracing for what the world hopes is one last wave of restrictions until the new vaccines kick in.
Russia’s proposed solution for the global health crisis has been shrouded in mystery and speculation.
It became the first country to approve a coronavirus vaccine in August, long before the candidate had undergone large-scale clinical trials.
Russia said this week that interim results showed Sputnik V — named after the pioneering Soviet satellite — was 95 percent effective, although crucial phase three trials are still underway.
The importance of these large trials was underscored when AstraZeneca admitted that its candidate — developed jointly with the University of Oxford — proved to be most effective when younger people were given half a dose by mistake.
“We need to do an additional study,” AstraZeneca boss Pascal Soriot told Bloomberg.
One person not taking any of the vaccines approaching approval is Brazil’s populist President Jair Bolsonaro, who caught the virus after playing down its impact and refusing to wear a mask.
“I’m telling you, I won’t take it,” he said in a video posted to social media. “It is my right.”
Black Friday
In the meantime much of the world faces a gloomy winter dampened by lockdowns, economic anxiety and mental strain.
Bulgaria allowed its stores to enjoy one last spurt of business on Black Friday — usually, the day shops are packed with people looking for holiday deals — before closing almost everything for three weeks shortly before midnight.
“People have only just started returning in the past three days and now we’ll be shutting down for three weeks,” one Sofia restaurant owner lamented.
The mood was just as sour in the West Bank, where police in face masks set up roadblocks on the first day of new restrictions that included weekend curfews.
“I doubt the curfew will be fully respected,” said Amer Salamin, an accountant in Ramallah.
Lockdown fatigue is spreading even as governments unfurl new measures to save healthcare systems from collapse.
Restaurant owners in Istanbul organised a protest after Turkey — hitting one-day records of 174 deaths and more than 29,000 infections on Thursday — switched to takeout and delivery service nationally.
Ski break debate
Nations are now trying to gauge how people, exhausted by one of the most traumatic years in generations, can enjoy a small holiday break without spreading the disease.
“Four hundred people on a Paris metro won’t get infected but four people on a ski lift will,” Jean-Luc Boch, the head of France’s Alpine mayors’ association, fumed.
Playing it safe, German Chancellor Angela Merkel has called for all EU resorts to be closed until January 10, making Switzerland — which is outside the bloc and is staying open — the go-to destination for ski fans.
“I am very bitter because I’m convinced the ski stations could reopen safely,” said Giovanni Brasso, a ski lift operator in the Italian Olympic village of Sestriere.
#Newsworthy
Yet Albayrak still held on to his post as deputy head of the sovereign wealth fund, which was created in 2016 and now manages state assets officially valued at $22.6 billion.
President Recep Tayyip Erdogan’s son-in-law quit as the deputy head of Turkey’s huge sovereign wealth fund, completing a fall from grace that began with his surprise resignation as finance minister.
Berat Albayrak had been viewed as Turkey’s second most powerful figure until his chaotic departure from the government at the start of the month.
Married to the Turkish leader’s elder daughter, the 42-year-old quit as finance minister in a cryptic November 8 message on Instagram that cited health reasons.
His resignation from the helm of the Turkish economy was ignored by state media for more than 24 hours, until it was formally accepted by Erdogan the next night.
Albayrak’s two-year tenure as economy chief saw the lira lose 40 percent of its value against the dollar and the central bank burn though most of its reserves in trying to defend the currency.
His departure was linked to Erdogan’s appointment of a new market-friendly central banker whom Albayrak had strongly opposed.
Naci Agbal, the new central bank governor, sharply raised the main interest rate at his first policy meeting last week, helping the lira halt its slide.
Erdogan’s office said little about Albayrak’s departure, noting in a one-sentence statement that he “left the board of the sovereign wealth fund of Turkey after asking to take leave”.
He was appointed as its deputy head in 2018, the same year Erdogan became its official chief.
#Newsworthy
The shutdown in the vast country of 1.3 billion people left huge numbers of people jobless almost overnight, including tens of millions of migrant workers in the shadow economy.
India’s economy contracted 7.5 percent between July and September, performing the poorest among major advanced and emerging economies and entering a technical recession for the first time since independence, official data showed Friday.
Although the figures were an improvement on the record 23.9-percent contraction recorded last quarter, they indicate that Asia’s third-largest economy is in for a tough fight as it attempts to revive demand and create jobs even as coronavirus infections climb.
The two successive quarters of contraction mean that the country has now entered a “technical recession” for the first time since 1947.
After virus-led lockdowns ravaged the globe, the growth recorded by major economies including the United States, Japan and Germany during the quarter ending on September 30 raised expectations that India would also enjoy a revival.
But, while consumer businesses saw a boost due to increased spending in the run-up to the October-November festive season, hopes of a broader recovery were dashed, with the construction and hospitality sectors taking a hit.
Farming continued to be a relatively bright spot, while manufacturing activity also increased during the July-September period after plunging nearly 40 percent during the previous quarter due to the lockdown.
New Delhi has struggled to kick-start an economy that is expected to shrink 9.5 percent this year, according to estimates released by India’s central bank governor Shaktikanta Das last month.
The International Monetary Fund has meanwhile predicted that India’s economy would contract by 10.3 percent this year, the biggest slump for any major emerging economy and the worst since independence.
A report by Oxford Economics released earlier this month said that India would be the worst-affected economy even after the pandemic eases, stating that annual output would be 12 percent below pre-virus levels through 2025.
India’s economy had struggled to gain traction even before the pandemic, and the hit to global activity from the virus and one of the world’s strictest lockdowns combined to deal the country a severe blow.
The government has since been easing restrictions to revive activity, announcing two stimulus packages to offer farmers easier access to credit and dole out benefits to small-scale businesses.
The relaxation measures have been deployed even as the coronavirus continues to ravage the country, which has registered more than 9.3 million infections — second only to the United States — and over 135,000 deaths.
In a speech Thursday, central bank governor Das warned that the recent surge in virus cases and the imminent threat of new lockdowns posed further risks to the economy.
“We need to be watchful about the sustainability of demand after the festivals and a possible reassessment of market expectations surrounding the vaccine,” Das said.
#Newsworthy
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