IT Education Program Achieves Milestone of Educating 7.8 Million Students in 180 Countries
Leading ICT and Networking solutions company, Cisco Systemsis celebrating 20 years of up-skillingmillions of young people throughits flagship CSR programme, the Cisco Networking Academy (NetAcad) in Nigeria.

Since its inception in 1997, the Cisco Networking Academy has reached 7.8 million students, 9,600 educational institutions including schools, colleges and universities in more than 180 countriesacross the world.

The NetAcad is the world’s largest technology classroom, partnering closely with 22,000 educators to deliver a curriculum that gives students digital, problem-solving and entrepreneurial skills needed to get a job, promotion or start entrepreneurial businesses.

Source: Techstyle - https://techstyleng.com/2017/11/02/cisco-net-academy-celebrates-20-years-nigeria/

Russia has signed agreements with Nigeria to build and operate a nuclear power plant in the oil-rich West African nation that has a deficit of reliable power.

Feasibility studies for the plant and a research center construction will include site screening, capacity, financing, and time frames of the projects, state-owned Russian nuclear company Rosatom said in an emailed statement, according to Bloomberg.

Representatives from the firm and the Nigeria Atomic Energy Commission signed the deal.

The nations in 2009 signed an intergovernmental agreement on cooperation in the field of the peaceful usage of nuclear technologies. Nigeria in 2015 was in talks with Rosatom to build as many as four nuclear power plants costing about $20 billion, the Nigeria Atomic Energy Commission said at the time.

Source: http://www.businessamlive.com/russia-signs-nuclear-power-plant-deal-nigeria/

As part of new security measures being put in place by the United States, airlines would soon start asking passengers security questions before boarding U.S-bound flights

A U.S. government spokeswoman says new security measures on incoming flights to America from abroad “may include” enhancing passenger screening, heightened screening of electronics and increasing security measures and that they “will impact all flights.”

Lisa Farbstein, a spokeswoman for the U.S. Transportation Security Administration, told The Associated Press on Wednesday that the new measures would affect the approximately 2,100 flights arriving daily to America.

She said both U.S. citizens and foreigners would face the same security.

The agency’s comments come as six global long-haul carriers said they will start asking passengers security questions before they board flights at the request of U.S. officials.

Jordan’s national carrier says it will implement new security procedures on U.S.-bound flights in mid-January, at the request of U.S. aviation authorities.

Basel Kilani, a spokesman for Royal Jordanian, said on Wednesday that the airline will submit questions to passengers before check-in.

Kilani says he doesn’t know what types of questions would be asked. He says that Royal Jordanian asked to delay the implementation of the measures until January and that the request was granted.

Royal Jordanian operates direct flights from Amman to New York, Chicago and Detroit.

Air France says it will begin new security interviews of passengers on U.S.-bound flights.

The airline says it will start the new procedures on Thursday at Paris Orly Airport and a week later, on Nov. 2, at Charles de Gaulle Airport.

Air France said on Wednesday that the extra screening will take the form of a questionnaire handed over to “100 percent” of passengers.

Egypt’s national airline says it is tightening security on its flights to New York following a request by U.S. security authorities.

In a Wednesday statement, EgyptAir says the new measures will begin Thursday and include more detailed searches of passengers and their luggage and include interviews. The strict procedures will extend to unauthorized agricultural or veterinary products.

The statement did not say if the change was linked to any new specific concerns or threats.

Earlier this year, Cairo was among a list of cities from which U.S. and British authorities banned electronic devices larger than smartphones in carry-on luggage before the ban was lifted.

Airline security in Egypt has been a concern internationally since a bomb killed all aboard a Russian airliner flying back from Sharm el-Sheikh in 2015.

source: BusinessAMLIVE http://www.businessamlive.com/airlines-start-asking-passengers-security-questions-boarding-u-s-bound-flights/

Nissan Motor Co. unveiled a concept electric car that’s more powerful than its iconic GT-R sportscar, aiming to put it into production after 2020 and share the platform with partners Mitsubishi Motors Corp. and Renault SA.

The IMx concept model is the most powerful in Nissan’s lineup with a torque of 700 Newton meters, compared with the GT-R’s 637 Nm, the automaker said while unveiling the car at the Tokyo Motor Show Wednesday.

Nissan is showcasing its latest vision in its push for electric cars, a month after unveiling a new version of its Leaf, the world’s best-selling EV to date, to fend off Tesla Inc.’s entry into the market. The biennial show comes at a time the Yokohama-based automaker is under a cloud for a lapse in vehicle inspections at its Japan plants. Struggling to contain the fallout of the scandal, the company suspended production of all cars for the local market last week to fix the issue.

As competition heats up in the industry for leadership in newer auto technologies, carmakers are working overtime to enhance the performance of their products. In the case of electric cars, they are investing time and money in battery packs that offer longer driving ranges to help consumers overcome their anxiety of running out of charge in the middle of nowhere.

The IMx concept offers 600 kilometers (373 miles) on a single charge, 50 percent more than the new Leaf that was unveiled last month. Toyota Motor Corp. is set to unveil a concept fuel-cell car that is targeting a 1000-kilometer range.

Nissan shares declined 0.2 percent to 1,091 yen as of 11:30 a.m. in Tokyo, while the Topix index rose 0.1 percent. The stock has fallen 7.2 percent this year.
http://www.businessamlive.com/nissan-unveils-electric-car-powerful-gt-r/

Just a year ago there were hardly any dedicated cryptocurrency funds, now investment in the sector has mushroomed enough that the first funds-of-funds are emerging.

Rick Marini, Serial entrepreneur and venture capitalist, wants to raise $100 million to invest in 10 crypto-focused hedge funds. The fund, called Protocol Ventures, opened this month with $1 million of Marini’s own capital.


The fund’s creation is further sign of growing interest in the sector after 84 crypto hedge funds have opened this year, a jump from 11 last year, according to research by Autonomous Next. While institutional investors have mostly stayed on the sidelines, companies are launching everything from funds to regulated exchanges to crypto derivatives, trying to lure them in.

“The goal is to provide diversification for investors,” Marini said. “With this volatility you want to invest enough that the upside is meaningful, but not so much that it would hurt your portfolio in the case of a loss.”

Two of the funds Protocol Ventures has invested in are MetaStable Capital, one of the first and largest dedicated crypto funds, and smaller fund Neural Capital, whose bet on ethereum helped it gain 60 times in the past year, said Marini, who was head of digital innovation at Hearst Corp. and founded three technology startups.

Crytpocurrencies’ market cap has ballooned to over $170 billion from $13 billion at the start of the year, with bitcoin, the biggest digital asset, surging 500 percent in that time.

As found on http://www.businessamlive.com/theres-now-a-cryptocurrency-fund-of-funds/

Singapore, among the world’s most expensive places to own a vehicle, will stop increasing the total number of cars on its roads next year.
The government will cut the annual growth rate for cars and motorcycles to zero from 0.25 percent starting in February, the transport regulator said Monday.
“In view of land constraints and competing needs, there is limited scope for further expansion of the road network,” the Land Transport Authority said in a statement on its website. Roads already account for 12 percent of the city-state’s total land area, it said.
Smaller than New York City, land in Singapore is a precious commodity and officials want to ensure the most productive use of the remaining space. Its infrastructure is among the world’s most efficient and the government is investing S$28 billion ($21 billion) more on rail and bus transportation over the next five years, the regulator said.
Singapore requires car owners to buy permits — called Certificates of Entitlement — that allow holders to own their vehicles for 10 years. These permits are limited in supply and auctioned monthly by the government. At the most recent offering last week, the permit cost S$41,617 for the smallest vehicles. Source - http://www.businessamlive.com/singapore-stop-adding-cars-city-february-2018/

Ikeja Electric Monday signed a memorandum of understanding (MoU) with Mojec International Ltd, a local content provider for the supply of distribution transformer (DT) meters.

Anthony Youdeowei, chief executive officer of Ikeja Electric, said the partnership with Mojec became necessary because of the need ensure energy accountability in the power sector, where it has become a major headache over the years.

According to him, the fact that power is daily being consumed without a clear and scientific way of measuring how much is being used up, and by whom, has remained an issue of concern and front-burner topic of discussion everywhere, and it is, therefore, necessary Ikeja Electric continues to invest and commit resources to improve its capacity to meter correctly and fairly, the consumption patterns of as many customers as it could.

This is good news for those under the Ikeja Electricity Distribution network. Get the full gist of the story here --- http://www.businessamlive.com/ikeja-electric-signs-n570m-mou-with-mojec-international-for-supply-of-distribution-transformer-dt-meters/

Commodity Price Movement - Bag of rice ( 50kg N15,000) Garri ( 50kg N10,500) See more ===> http://www.businessamlive.com/commodities-update-october-13-2017/

Despite criticism of it not fulfilling some of the most important functions of currency, Bitcoin, the digital currency, has soared in recent months, spurred by greater acceptance of the blockchain technology that underpins exchange and optimism that faster transaction times will encourage broader use.

Prices have climbed more than four-fold this year to about $5240 from $926 at the beginning of the year, representing a whopping 750% rise.

The price of the digital currency has however had volatility, especially in September when it crashed to below $3000 because of the crackdown in China.

The Chinese regulatory authorities ordered cryptocurrency exchanges to stop trading and blocked new registrations because of the fears of the precipitation of a financial crisis if many Chinese had access to bitcoins.

Russian President, Vladimir Putin had earlier in the month called for the regulation of bitcoins because according to him it could be used to aid money laundering, tax evasion and could provide ready funds for terrorism.

Despite the skepticism of bitcoins, it is gradually gaining acceptance as the Japanese government earlier in the month implemented rules that recognize it as a payment method. Celebrities like Paris Hilton, Floyd Mayweather have promoted it aggressively.

The banks are largely sidelined in bitcoins transactions when goods and services are exchanged and they have raised warnings about a price bubble
Get the complete gist here ====> http://www.businessamlive.com/bitcoin-surges-750-year-date-despite-criticism-main-bankers/

Being passed over for a promotion that you really wanted stings. Your first reaction may be to hit the job boards and start shooting your resume over to friends, hatching a plan to get out of there as soon as you can. But just because you suffered this (major) setback doesn’t mean you need to jump ship.

Nearly everyone has been overlooked for a job they deserved, and many have come back stronger and more successful. These four steps will help you get over the rejection you’re facing so you can continue kicking butt at your job:

1. Redirect Your Negative Emotions
If you don’t feel at least a bit emotional after losing out on a promotion, then you have better composure than most. But for many of us, that moment can be tough to swallow, and it’s perfectly normal to feel flustered.

Although you might be fuming, it’s important that you take a step back from the situation and give yourself the opportunity to cool off before doing anything else. You certainly wouldn’t want to lose control and torpedo the professional reputation you’ve strived so hard to build before you’ve had to the chance to gather all the facts.

A couple years ago, I was passed over for a promotion when—in my mind—I should have been a shoe-in. I was so infuriated that I just wanted to walk out and never come back, but after grabbing drinks with my friends and venting out that frustration, I realized that giving up and leaving the company wasn’t what I wanted. I came back into the office the next week with a renewed focus and intensity, eager to not let this setback distract or damage my performance.

2. Be Proactive and Seek Direct Feedback
After checking those feelings of anger and hurt at the door, it’s time to take control and transform a negative experience into a potentially positive learning opportunity. There’s no need to play detective by slyly dropping hints to co-workers to get the scoop on what happened; the professional move is to go straight to the source and ask your boss.

You’re likely to get some insight into the areas you can improve upon, as well as how leadership decisions are made at your company. Plus, you might gain some newfound respect from your manager for your professionalism and desire to grow your career with the company.

When I missed out on that promotion, I needed concrete feedback from my boss so I could stop running the scenario over-and-over again in my head—comparing myself to the other candidates without actually knowing what my company was looking for.

If you want to get the originally published post, you can find it here http://www.businessamlive.com/cope-passed-promotion/

The Organisation of Petroleum Exporting Countries (OPEC) Wednesday slightly raised its forecast for world oil consumption in 2017 and 2018 for a third-straight month, just as it said it pumped 32.75 million barrels of oil a day in the month of September, up about 88,500 barrels, according to independent sources cited in the group’s monthly report.

OPEC specifically forecasts the world’s appetite for oil will grow by 1.5 million bpd this year and 1.4 million bpd in 2018. The cartel raised both forecasts by 30,000 bpd. It cited higher-than-expected demand in China and developed nations this year and an improving economic outlook in 2018, particularly in Russia and China.

The improved demand outlook from both OPEC and the International Energy Agency last month underpinned the oil market rally in September.

Traders would be watching the monthly report from the International Energy Agency, due on Thursday, for confirmation of the demand trend.

Heading into the winter, OPEC sees strong demand for distillates — refined petroleum products like heating oil — due to forecasts for a colder winter compared with last year.

Stockpiles of distillates are below the five-year average, OPEC reports, and U.S. refinery disruptions caused by Hurricane Harvey only quickened the already-steady decline in inventories.

However, OPEC lowered its forecast for output growth from producers outside OPEC by 100,000 bpd in 2017 and 60,000 bpd in 2018.

Crude stockpiles in the OECD, a group of mostly developed nations, stood at just under 3 billion barrels in August, according to OPEC. That is about 171 million barrels above the five-year average, the level OPEC is trying to hit.

OPEC’s 14-member production levels for September is actually the second highest monthly level this year, returning to growth after the oil cartel’s output fell for the first time in five months in August.

OPEC is partnering with other major oil exporters, including Russia, to keep about 1.8 million barrels per day of supply off the market through March. The goal is to shrink global crude stockpiles and drain a glut that has weighed on prices for the last three years.

Nigeria and Libya, both exempt from the production cuts, led the gains with monthly increases of about 50,000 bpd each.

Nigeria’s production held above 1.8 million bpd for a second month. Africa’s biggest producer has said it will consider production limits once its output stabilizes above that level. OPEC gave Nigeria and Libya a waiver because internal conflicts caused big production declines in both countries last year.

Iraq, OPEC’s second-largest producer, posted the third-biggest increase. Its output grew by nearly 32,000 bpd to just under 4.5 million in September. Iraq has yet to drive down output to levels it agreed to last winter.

Saudi Arabia reported a slight supply increase, though independent figures showed a small decline and the Saudis were still pumping well below their quota. OPEC’s biggest producer has provided the lion’s share of cuts since the cartel implemented the caps in January.

This article was originally published by http://www.businessamlive.com

Oil producers are optimistic that their ongoing re-balancing efforts on the oversupplied market may be achieved, but they may need to take further steps to sustain the recovery into 2018, Mohammad Barkindo, Secretary-General Organisation of Petroleum Exporting Countries (OPEC) said.

Barkindo noted Sunday in New Delhi that Saudi Arabia and Russia are currently leading consultations between the OPEC and other major suppliers about the future of their agreement to cut oil output. The pact expires in March, and oil producers are debating whether to extend it later into the year.

“There is a growing consensus that, number one, the re-balancing process is underway,” he said after meeting with Dharmendra Pradhan, Indian oil ministe, adding, “Number two, to sustain this into next year, some extraordinary measures may have to be taken in order to restore this stability on a sustainable basis going forward.”

However, Barkindo didn’t elaborate on what those additional measures could be and if they would include the main proposal currently on the table – an extension of the existing cuts by up to nine months – or something else.

Venezuela has suggested making deeper cuts, but that’s considered unlikely given the political challenges of getting all members to agree unanimously.

original source - http://www.businessamlive.com

Though currency devaluations and a sharp downturn in oil-exporting economies have slowed spending growth in Africa, widespread technology adoption supported by a growing young population is expected to drive consumer spending to $2.1 trillion by year 2025, according to a McKinsey & Company published article entitled “Lions (still) on the move: Growth in Africa’s consumer sector”.

The article published October 2, 2017, indicates that Africa remains a high-potential region, but growth is concentrated in a few markets and income segments, and that for companies to win more consumers they need a tailored, data-driven approach.

It cited analysts at the McKinsey Global Institute who have identified four groups of consumers that will drive much of Africa’s consumption growth between now and 2025, including those earning more than $50,000 a year in North Africa and South Africa, Nigerian consumers, middle-income consumers in East Africa, and middle-income consumers in Central and West Africa.

Specifically, technology adoption in the form of mobile money and e-commerce, young and growing population and urbanization are identified as strong structural fundamentals to drive the consumer opportunity

“Technology is opening many new doors for consumers. Mobile money, for instance, is growing five times faster in Africa than in any other region. By 2020, half of Africans—up from 18 percent in 2015—are expected to own a smartphone, which they can use to buy and sell products and services, pay bills, and make remittances,” the article noted.

The authors particularly cited a study in Kenya, which found that families with M-Pesa mobile money were able to withstand financial shocks (such as illness) without reducing their consumption, because they could borrow money electronically from friends and family.

“The success of e-commerce company Jumia —colloquially referred to as “the African Amazon.com”—is partly due to the fact that it accepts mobile payments, allowing even Africans who don’t have bank accounts to make purchases.

“E-commerce and m-commerce offerings are partially leapfrogging formal retail, and McKinsey analysis suggests that e-commerce could account for 10 percent of retail sales in Africa’s largest economies by 2025.”

Aside technology adoption, a young and growing population is equally seen as fuelling consumer-spending growth in the next eight years.

“The continent’s population is projected to grow by 20 percent over the next eight years, with Africa’s youth making up 40 percent of the total. By 2025, almost one-fifth of the world’s people will be living in Africa,” the authors stressed, adding that population growth is accompanied by falling dependency ratios as well as an expanding workforce.

The size of Africa’s working-age population is expected to surpass both India’s and China’s by 2034.

Rapid urbanization is another push for consumer spending.

The article projected that by 2025, an additional 190 million people in Africa are expected to be living in urban areas, which means that about 45 percent of the population will be urbanized by then.

“City dwellers are voracious consumers: per capita consumption spending in large cities in Africa is on average 79 percent higher at the city level than at the national level. Cities in Kenya and Nigeria, for instance, have per capita consumption rates that are more than double the country rates. The top three cities in Ghana and Angola will account for more than 65 percent of national consumption spending in each of these countries,” the authors noted.

The article also see rising incomes as base assumptions for their projections, saying that since 2005, increases in spending per household have been responsible for about 40 percent of consumption growth in Africa.

“By 2025, 65 percent of African households will be in the “discretionary spending” income bracket (earning more than $5,000). Consequently, the profile of goods and services that Africans purchase will shift, from basic necessities toward more discretionary products,” it noted

The article noted that the growth factors identified bode well for the continued growth of Africa’s consumer sector, but warned that growth will be uneven across countries and income classes, and the geographic spread of consumption will change.

Check for more on www.businessamlive.com