china
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Featured
Tinubu arrives China on state visit
President Bola Tinubu has arrived in Beijing, China, for a five-day official state visit. A statement by his spokesman, Ajuri Ngelale, said he arrived in China at about 9.00 a.m. local time on Sunday and was received by key officials of the Chinese government. Tinubu was also welcomed by governors Babajide Sanwoolu, Sani Uba of Lagos and Kaduna States respectively,…
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Featured
NNPC Ltd begins liquefied gas supply to Japan, China
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has begun shipment of Liquefied Natural Gas (LNG) cargoes to Japan and China on Delivered Ex-Ship (DES) basis. Mr Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd., quoted Mr Segun Dapo, the Executive President, Downstream, NNPC Ltd., as saying this in a statement in Abuja on Monday. Dapo was quoted as saying…
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foreign
China to strengthen capital market regulation, risk prevention
China’s State Council released a guideline on Friday on strengthening regulation, forestalling risks, and promoting the high-quality development of the country’s capital market. The council stated in the guidelines that the country should aim at building a secure, regulated, transparent, open, dynamic, and resilient capital market. It said that efforts should focus on strengthening regulation, preventing risks, and pushing…
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foreign
Chinese yuan strengthens to 7.0947 against dollar
The central parity rate of the Chinese currency, the renminbi or yuan, strengthened two pips to 7.0947 against the dollar on Monday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by two percent from the central parity rate each trading day. The central parity…
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foreign
China`s Central Bank adds liquidity via reverse repos
China’s Central Bank conducted two billion yuan (about 281.9 million dollars) of seven-day reverse repos at an interest rate of 1.8 percent on Monday. The move aims to keep liquidity in the banking system reasonable and ample, the People’s Bank of China said in a statement. A reverse repo is a process by which a central bank purchases…
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foreign
China-Vietnam border land port reports 520,000 passengers in Q1
The Youyiguan border gate along the China-Vietnam border recorded some 520,000 inbound and outbound passengers in the first quarter of 2024, up 189 per cent year on year, according to local authorities. In the first three months of this year, the land port cleared over 100,000 vehicles, a year-on-year increase of 22.75 per cent, according to the Youyiguan entry-exit…
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foreign
China condemns suspected Israeli attack on Iranian embassy grounds
China has issued a strong condemnation of a suspected Israeli air attack on the grounds of the Iranian embassy in Damascus that claimed the lives of two Iranian generals. “China condemns the attack on the Iranian embassy in Syria,” Foreign Ministry spokesman Wang Wenbin said in Beijing. The security of diplomatic institutions must not be violated, and the sovereignty and…
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foreign
Philippines marks Good Friday with crucifixions, flagellations
More than a dozen penitents were nailed to wooden crosses in the Philippines on Friday, while others whipped their backs bloody in gory re-enactments of Jesus Christ’s death. The Good Friday rituals, the highlight of Easter week celebrations in the predominantly Catholic country, were held in several villages amid intense summer heat and humidity that triggered rain showers in some…
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OIL&GAS
Big companies facing pressure over investment in oil and gas-Expert
An expert in geosciences, Dr. David Egya, says big companies are currently facing a lot of pressure when investing in oil and gas due to the global upsurge in the energy transition. Egya made this statement during his presentation at a session on `Opportunities and Challenges in the Renewable Energy Potential of Nigeria` at the 59th Annual International Conference and…
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Metro
How to build solid China-Nigeria community— Chinese Envoy
Yan Yuging, Consul General of China in Lagos, says to build a closer China-Nigeria community with a shared future, more think-tank scholars who understand China, Nigeria, Africa, and the world are needed. Yuging said this at the maiden edition of the Lagos Forum, organised by the Nigerian Institute of International Affairs (NIIA) in partnership with the Chinese Consulate, Africa-China Economy…
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General News
FG stresses ‘strategic commitment’ to complete value chain of vaccine production
Dr. Abdul Mukhtar, National Coordinator of the Presidential Unlocking Healthcare Value-Chain Initiative, has emphasised Nigeria’s strategic commitment to the complete value chain of vaccine production. He said such would position the nation to emerge as a key player in West Africa’s vaccine manufacturing sector. Mukhtar expressed this while speaking with the News Agency of Nigeria (NAN) in Kaduna State. It…
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foreign
Patent applications in Europe rise, but women still under-represented
The number of patent applications at the European Patent Office (EPO) rose by almost 3 percent last year to 199,275 new inventions. Digital communication, electrical machines, and energy technology were the growth areas, the EPO said in Munich on Tuesday. Significantly, more applications were received from South Korea and China in particular. However, the U.S. was in the lead with…
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foreign
Advanced productivity will strengthen China-Nigeria cooperation, says Chinese minister
Mr. Wang Yingqi, a top-ranking Chinese official, said on Monday that advanced productivity would enhance high-quality growth and strengthen bilateral relations between China and Nigeria. Wang, who is the Minister and Counselor for Economic and Commercial Affairs at the Chinese Embassy in Nigeria, said this at a seminar in Abuja with the theme, “Enhancing China-Africa Cooperation in New Quality Productive…
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General News
TikTok boss slams U.S. bill aimed at forcing change in ownership
The chief executive of Chinese social media platform TikTok, Shou Chew, has vowed to fight back against a U.S. law that aimed to force a change in ownership. The company will do everything possible and use legal means to defend the platform, Shou said in a video published on Thursday. The House of Representatives in Washington had earlier on Wednesday…
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foreign
China unveils equipment renewal plan, trading-in consumer goods
China has released an action plan to promote large-scale equipment renewal and the trading in of consumer goods. The action plan, issued by the State Council, the country’s cabinet, was aimed at bringing more durable, high-quality consumer goods into people’s lives. It was also aimed at smoothing the recycling chain of resources and significantly improving the quality and level of…
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foreign
Australian freshwater crayfish bring fresh vitality to rural Xinjiang
Wang Yunfeng was struck by the astonishment on the faces of local villagers upon seeing the Australian freshwater crayfish for the first time. Yunfeng is in charge of a farmers’ cooperative for aquaculture in Dongbag Township in Shache County, located in northwest China’s Xinjiang Uygur Autonomous Region. Living in southern Xinjiang with the expansive Gobi Desert for generations, the locals,…
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foreign
IEA calls for urgent action to reduce methane emissions from oil, gas sector
The International Energy Agency (IEA) has called for methane emissions in the oil and gas sector to be reduced more quickly in order to achieve climate protection targets. The IEA said on Wednesday in Paris that almost 120 million metric tons of methane were released in 2023 from the production of these two fossil fuels. It said that there was…
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