TV screen shot Photo - Source: bbc.comIn a statement made available to Xinhua in Lagos, Minister of Budget and National Planning, Udoma Udo Udoma, said the government has also designed a fiscal stimulus strategy that will help the country to come out of its economic recession. Udoma said that the Economic Management Team had been working on a plan to generate an immediate large injection of funds into the economy. The minister said the funds would be generated through Asset Sales, Advance Payment for Licence renewals, infrastructure concessioning, use of recovered funds, among others, to bridge the funding gap. "To achieve this speedily, we will need to fast-track procedures through Presidential directives and legislation; a bill is almost ready for submission to National Assembly," he added. The minister emphasized the need for the country to spend its way out of recession through injection of large amount of money into the economy. According to him, the … [Read more...] about Nigeria to inject 15 bln USD in ailing economy
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General Assembly appoints Ban as UN chief for second term
The UN General Assembly on Tuesday appointed Ban Ki-moon as the UN secretary-general for a second five-year term starting Jan. 1, 2012. The 192-member General Assembly made the appointment after adopting a resolution by acclamation at a plenary session here on the basis of a decision of the UN Security Council to recommend Ban to the top UN post for a second term. The 15-nation Security Council made the recommendation on June 17. Under the UN Charter, the secretary-general is appointed by the General Assembly upon the recommendation of the Security Council. In introducing a draft resolution to the General Assembly, Noel Nelson Messone, Gabon's ambassador to the UN, whose country holds the council's rotating presidency for the month of June, spoke highly of Ban's role in promoting peace and development in Africa and other parts of the world. "Your re-appointment today is a sign of the esteem that all those States have for you and of their confidence in you," Joseph Deiss, the … [Read more...] about General Assembly appoints Ban as UN chief for second term
September 1-6: Activities at home and abroad organised to celebrate National Day
1. Massive parade marks 70th anniversary of National Day A massive military parade with the participation of around 30,000 people was held in Hanoi’s Ba Dinh Square on September 2 to celebrate the 70th anniversary of the August Revolution (August 19) and National Day (September 2). Following a flag-raising ceremony, a 21-gun salute was fired from the Thang Long Royal Citadel to celebrate the nation’s key anniversary. On behalf of the Party and State, President Truong Tan Sang delivered a speech to mark the 70th anniversary of the August Revolution and National Day. 2. Nation celebrates 70th National Day anniversary A series of activities took place across the country to celebrate the 70th anniversary of the August Revolution and National Day. On this occasion, many exhibitions, workshops and art performances were organised across the country. On September 2, fireworks displays began at 9pm in five locations across Hanoi, as well as at the Thu Thiem tunnel crossing … [Read more...] about September 1-6: Activities at home and abroad organised to celebrate National Day
Nigeria assumes UN Security Council presidency
(VOVworld) – Nigeria has assumed the one-month rotational Presidency of the UN Security Council. Nigeria’s Permanent Representative to the UN Joy Ogwu took over from Permanent Representative of New Zealand to the UN Gerard van Bohemen on Saturday who held the Presidency of the Council this July. Joy Ogwu plans to make a short press conference to announce the Council’s mission program at the UN’s headquarters. According to the UN Charter, the UN Security Council’s major task is to maintain world’s peace and security. The UN Security Council includes five permanent members – the US, the UK, France, Russia, and China – and 10 non-permanent members, elected by the UN General Assembly to serve two-year terms. The body’s presidency rotates monthly among its 15 members. This is considered an opportunity for each member to strengthen their priorities and national interest, as well as affirm their active contributions to the Council. … [Read more...] about Nigeria assumes UN Security Council presidency
Public holidays increase proposed
The National Assembly Standing Committee suggested an increase in the country's public holidays at a committee meeting held this morning to discuss the draft amended Labour Code. One more day should be added to the country's longest and most important holiday - Tet (Lunar New Year), which currently allowed workers to enjoy four days off, committee members said. "Reality has shown that the working day after every Tet holiday is by no means effective. Why shouldn't we make that day another holiday?," said NA Chairman Nguyen Sinh Hung. NA vice chairwoman Nguyen Thi Kim Ngan, who is former Minister of Labour, Invalids and Social Affairs, shared the opinion. "Viet Nam should have more public holidays," she said, explaining that Vietnamese workers had fewer public holidays than those in most other countries in the region and across the world. At this time Viet Nam has nine public holidays, including New Year's Day, Hung Kings' day (March 10 on the Lunar Calendar), April 30 … [Read more...] about Public holidays increase proposed