NEWS
China Upgrades Cooperation with Africa–Official
China says it has upgraded the China-Africa Economic and Trade Forum and China-Africa Cultural Cooperation and Exchange Month to the China-Africa Economic and Trade Forum in the framework of China-Africa Cooperation Forum.
Zhang Yangbin, Deputy Secretary-General, Chinese People’s Association for Friendship with Foreign Countries, said this during the opening ceremony of 2024 China-Africa Economic, Trade and Cultural Forum in Jinhua, Zhejiang Province.
The Forum with the theme: “Exchanges and Mutual Learning, People-to-People Bond and Win-Win Cooperation” attracted 400 guests from 40 countries and regions.
It aims to deepen China-Africa traditional friendship, expand China-Africa cooperation on the path to modernisation.
Zhang said that the Beijing Summit of the Forum on China-Africa Cooperation formed basis to draw the new blueprint for China-Africa cooperation.
“This year, the China-Africa Economic and Trade Forum and the China-Africa Cultural Cooperation and Exchange Month were upgraded to the China-Africa Economic and Trade Forum and included in the framework of the China-Africa Cooperation Forum.
“It is expected that the participants will further deepen friendship and seek opportunities on this platform, and make suggestions for China and Africa to jointly promote modernisation.
“The Chinese People’s Association for Friendship with Foreign Countries stands ready to work with friends from all over the world.
“This is to build more bridges and bonds to promote the hearts, emotions and strength of the Chinese and African peoples”, Zhang said,
In his keynote, Rahmantala Osman, Permanent Representative of African Union Delegation to China, said China’s investment in Africa played key role in promoting Africa’s modernisation process.
According to him, it is hoped that Africa and China will further strengthen cooperation in education, social security, infrastructure, energy, agriculture, industry, and digitalisation to lead the “global south” to prosperity.
In his remarks, Roger Emmanuel, Acting-Director, Embassy of Congo Brazzaville, said Africa to had the most developing countries.
Emmanuel, also the African co-Chair of the China-Africa Cooperation Forum, described China as the world’s largest developing country, saying the friendly relations between Africa and China are a model of win-win cooperation.
“It is hoped that the two sides will deepen mutual trust, share development opportunities and work together to build a better future for Africa and China,” Emmanuel said.
Godius Kahyarara, Permanent Secretary, Tanzanian Ministry of Transport, conveyed Tanzanian President Suluhu Hassan’s appreciation for Africa-China cooperation and congratulations on the success of the forum.
According to him, Tanzania and China have always been each other’s most reliable and trustworthy partners.
Kahyarara said: “This year marks the 60th anniversary of the establishment of diplomatic ties between Tanzania and China. We sincerely hope that the friendship between the two countries will last forever.”
South African Ambassador to China, Siyabonga Cwele, said that the bilateral relationship between South Africa and China has been growing due to deep political mutual trust.
“It is hoped both sides further strengthen economic cooperation, deepen people-to-people and cultural exchanges, pool powerful forces of the African and Chinese peoples to jointly move towards modernisation ”, Shengwen said.
The Forum was hosted by Zhejiang Provincial People’s Government and organised by Jinhua Municipal People’s Government and Zhejiang Normal University.
It featured display of achievements of the 2024 China-Africa Cultural Silk Road Exchange Month among others.
Highpoint of the event was inauguration of the China-Africa ‘Jinhua’ Agricultural Science and Technology Innovation Park.
There was also the signing of the first batch of enterprises settled in Yiwu China-Africa building and Zhejiang-African cooperation projects amounting to about 47.9 billion Yuan. (NAN)
“Do not threaten Israel with sanctions” as it will continue to build a “Jewish state” on the ground,” Israeli Defense Minister, Israel Katz, warned on Friday.He also rebuffed a call by French President Emmanuel Macron for establishing a Palestinian State.In open defiance of international law, Katz claimed that world powers may recognize a Palestinian state “on paper.
”Katz made the remarks during a visit to Sa-Nur, an illegal outpost in the northern West Bank that the Tel Aviv government recently decided to officially designate as a settlement for illegal Israeli settlers. In a direct message, Defense Minister Israel Katz targets French President Macron and European allies.He also dismissed the potential international consequences.He said: “They will recognise a Palestinian state on paper, while we will build the Jewish Israeli state on the ground.“Don’t threaten us with sanctions. You will not make us bow.“The State of Israel will not kneel before threats.”His comments came hours after President Macron stated that recognising the State of Palestine was a “moral duty”.Macron also reiterated that France may move toward official recognition during an upcoming international conference focused on the two-state solution.Earlier this week, Israeli newspaper Yedioth Ahronoth reported that the Israeli Security Cabinet had secretly approved the establishment of 22 new illegal settlements in the occupied West Bank.In response, the Israeli anti-settlement group Peace Now issued a statement Thursday, revealing that 12 of the newly approved settlements were previously unauthorised outposts and farming sites established in recent years.According to Peace Now, there are currently 156 illegal settlements and 224 outposts across the occupied West Bank, including East Jerusalem, with over 736,000 illegal Israeli settlers living on occupied Palestinian land.The international community, including the UN, considers the Israeli settlements illegal under international law.The UN has repeatedly warned that continued settlement expansion threatens the viability of a two-state solution, a framework seen as key to resolving the decades-long Palestinian-Israeli conflict.In July 2024, the International Court of Justice declared Israel’s decades-long occupation of Palestinian land illegal and demanded the evacuation of all existing settlements in the West Bank and East Jerusalem.(AA/NAN)
The stock market on Friday closed the week on a bearish note, as key performance indicators dipped by 0.07 per cent.Specifically, the market capitalisation declined by N48 billion, or 0.07 per cent, to N70.462 trillion from N70.510 trillion recorded on Thursday.The All-Share Index also dropped by 0.
07 per cent or 76.07 points to close at 111,742. 01 down from 111,818.08 posted on Thursday. The decline was largely attributed to sell-offs in heavyweight stocks like Beta Glass, NCR Nigeria, Conoil, Legend Internet and 33 others.Also, the market breadth closed negative with 37 stocks declining against 28 gainers.On the flip side, Beta Glass declined by 10 per cent, closing at N232.65 while NCR Nigeria also lost by 10 per cent, finishing at N6.57 per share.Conoil dropped by 9.99 per cent, settling at N298.10 and Legend Internet fell by 9.94 per cent, closing at N6.16 per shareAlso, Industrial Medical Gases shed by 9.91 per cent, ending the session at N33.65 per share.On the gainers’ chart, Omatek grew by 9.86 per cent, settling at 78k while Red Star Express climbed by 9.62 per cent, closing at N8.32 per share.Deap Capital Management rose by 9.38 per cent, finishing at N1.05 and Sovereign Trust Insurance soared by 9.09 per cent, ending the session at N1.08 per share.May and Baker also increased by 8.26 per cent, closing at N11.80 per share.A total of 1.90 billion shares valued at N64.14 billion were traded across 18,653 transactions, in contrast to the 556.45 million shares worth N17.17 billion exchanged across 18,505 deals on Thursday.Transactions in the shares of United Bank for Africa topped the activity chart with 1.41 billion shares worth N49.02 billion.United Capital followed with 66.84 million shares valued at N1.32 billion while Access Corporation sold 53.97 million shares worth N1.19 billion.Fidelity Bank traded 31.38 million shares valued at N606.09 million and Zenith Bank transacted 29.93 million shares worth N1.46 billion. (NAN)
The Comptroller-General of the Nigeria Customs Service, Bashir Adeniyi, said Operation Whirlwind intercepted 39,425 litres of petrol worth ₦39.4 million within Lagos-Ogun axis. Mr Adeniyi disclosed this on Friday at a news conference in Lagos, organised following recent petroleum product seizures by Operation Whirlwind at the Federal Operations Unit, Ikeja.
Represented by the National Coordinator of Operation Whirlwind, Asst. Comptroller-General Hussein Ejibunu, Adeniyi said it marked another milestone by operatives in the Lagos-Ogun axis. He attributed the success to officers’ dedication, commitment and resilience over the past year within the zone. Adeniyi said the Office of the National Security Adviser, NMDPRA, and Attorney General’s office all commended Customs’ efforts in intercepting smuggled petroleum products. He said, “On May 23, we were in Yola for a similar exercise where over 46,000 litres of seized PMS were auctioned. “Today, we are conducting another auction following seizures made at Laro, Imeko, Badagry, Owode, Ajilete, and other flashpoints.” He added that investigations confirmed the petrol was intended for smuggling into Benin Republic. A total of 1,577 jerrycans of 25 litres each — amounting to 39,425 litres — were seized, along with eight vehicles used for transportation. Adeniyi stated that the seized petrol had a duty paid value of ₦39.4 million, and the vehicles were valued at ₦24 million, totalling ₦63.4 million. He reiterated that there was no safe haven for smugglers, and Customs would continue disrupting illegal activities to the barest minimum. The CGC directed that the seized petrol be auctioned immediately to Nigerians in 25-litre jerrycans at ₦10,000 each. He thanked strategic partners—ONSA, the Attorney General’s office and NMDPRA—for their unwavering support and cooperation. Adeniyi added that the success of Operation Whirlwind was due to strong collaboration with these agencies. “Since Operation Whirlwind began in 2025, Customs officers have not fired a single shot, and four suspects are currently facing trial,” he said. Comptroller Charles Orbih, Zonal Coordinator, Zone ‘A’ of NCS, reaffirmed the service’s commitment to protect Nigeria’s economy and ensure policy benefits reach all citizens. He noted that every litre smuggled across the borders causes revenue loss, scarcity, market instability and weakens energy security. “Operation Whirlwind, launched by the National Security Adviser’s office, proves Nigeria Customs is capable of defending and securing the nation’s borders,” Orbih stated. Comptroller Muhammed Shuaibu, FOU Zone ‘A’, commended Customs Management for the success achieved during Operation Whirlwind. He said the seizure was a joint effort by officers committed to combating smuggling and protecting the nation’s borders. He added that the seizure would help revive the economy, and Customs would maintain its focus on revenue generation and supporting legitimate trade. Mr Patrick Musa, of the NSA’s Lagos Zonal office (NMDPRA), said the operation proved Customs’ competence in border protection. He noted that NMDPRA, mandated with petroleum distribution, would continue collaborating with Customs and other agencies to stop petrol smuggling. Mrs Abidemi Aluko, representing the Attorney General’s office, appreciated the CGC, Customs officers and partner agencies for curbing petrol smuggling. “This is not business as usual. Suspects are currently under investigation for illegal petroleum dealings and will face trial,” she said. Quoting relevant laws, she stated the offence carries a sentence of life imprisonment or a fine, including forfeiture of transport means. “The Federal Government remains committed to prosecuting and bringing to justice those involved in petrol smuggling,” Aluko added. She called on sister agencies and stakeholders to strengthen collaboration to fight economic sabotage. In his closing remarks, ACG Kola Oladeji thanked the CGC for his leadership and enabling environment that contributed to the operation’s success. Oladeji urged officers to stay committed and intensify efforts to enhance national security. (NAN)
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