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Stanbic IBTC partners with FMDQ OTC PLC in renewal of its NGN100 billion Multicurrency Commercial Paper Programme
Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC and a member of the Standard Bank Group, has received approval from the FMDQ OTC PLC for the renewal of its shelf registration of N100 Billion Multicurrency Commercial Paper (CP) Programme.

The renewal of the Programme, initially established in 2012 in compliance with the Central Bank of Nigeria (CBN) guidelines for CP issuance, clearly demonstrates Stanbic IBTC Bank’s commitment to actively contributing towards development of the financial and capital markets in Nigeria.

Only recently, Stanbic IBTC Holdings obtained approval from the FMDQ to register its debut N20 billion CP Programme. Consequently, Stanbic IBTC Holdings has the distinct advantage of accessing the CP market for bespoke funding needs in a timely fashion, as and when favourable market conditions arise.

Chief Executive, Stanbic IBTC Bank PLC, Dr Demola Sogunle, said that the renewal of the N100 Billion Multicurrency Commercial paper is in line with the bank’s strategic drive to promote alternative capital sources including debt financing.

Pursuant to these approvals, both Programmes shall be included on the Quotations List of the FMDQ, and all relevant information on the CP Programme uploaded to the FMDQ website. Stanbic IBTC Bank intends to resume regular issuance under its CP Programme imminently, as part of the bank’s overall assets and liabilities management strategy.

Notes issued under the Programme shall also be updated to the Quotations page of the FMDQ website after which they will be admitted to, and eligible for trading on, the platform. In contrast, Stanbic IBTC Holdings is not immediately contemplating a transaction.

Stanbic IBTC Bank and other members of the Stanbic IBTC Holdings PLC group of companies have had a longstanding history of partnership and promotion of capital markets development with the FMDQ.

Stanbic IBTC Bank is one of the 24 Commercial and Merchant Banks who are part owners and stakeholders of the FMDQ.

The Bank joined the platform in 2011 and has been an active partner since. Stanbic IBTC Bank was the first issuer to register a CP Programme and quote CP notes on the FMDQ platform in 2014. The Stanbic IBTC Bank CP Programme is also notable for being the first and only CP Programme to have been renewed on the FMDQ platform.

As a leading, and credible self-regulatory organization and securities exchange in Nigeria, FMDQ is recognised for its role in promoting development of the Nigerian capital markets, and deepening secondary market liquidity, thus bringing Nigeria closer in alignment with international best practice. FMDQ is also well known for upholding the highest standards of integrity in the markets under its purview.

Stanbic IBTC Bank PLC, is a subsidiary of Stanbic IBTC Holdings PLC, a full service financial services group with a clear focus on three main business pillars – Corporate and Investment Banking, Personal and Business Banking and Wealth Management.

Standard Bank Group, to which Stanbic IBTC Holdings belongs, is rooted in Africa with strategic representation in 20 key sub-Saharan countries and other emerging markets. Standard Bank has been in operation for over 154 years and is focused on building first-class on-the-ground financial institutions in chosen countries in Africa, and connecting selected emerging markets to Africa by applying sector expertise, particularly in natural resources, power and infrastructure.

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Donald Trump Agrees to meet Kim Jong Un

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Donald Trump Agrees to meet Kim Jong Un

Donald Trump Agrees to meet Kim Jong Un

The United States President Donald Trump has agreed to meet with North Korean leader Kim Jong Un, the White House announced, setting the scene for a historic, unprecedented encounter.

The meeting, which would be the first between a sitting US president and a North Korean leader, will happen by May, according to South Korea’s national security adviser, Chung Eui-yong, who delivered the invitation to Trump after a visit by his delegation to Pyongyang earlier this week.
The stunning announcement is the culmination of a diplomatic whirlwind that began with the invitation of a North Korean delegation to the Winter Olympics in Pyeongchang. Trump’s decision to meet Kim, after a year in which the two have repeatedly traded insults, is a remarkable breakthrough — albeit one with uncertain consequences.

The South Korean delegation, which landed in Washington, D.C. for a debriefing Thursday on the North-South talks, was careful to praise Trump’s influence over the developments. Chung said the US President’s “leadership” and his administration’s pressure on the North Korean regime had “brought us to this juncture.”

White House press secretary Sarah Sanders said in a statement that Trump “greatly appreciates the nice words” of the delegation and South Korean President Moon Jae-in.
“He will accept the invitation to meet with Kim Jong Un at a place and time to be determined. We look forward to the denuclearization of North Korea. In the meantime, all sanctions and maximum pressure must remain.”

There are many details to be ironed out before the meeting could take place, including the location. The Panmunjom truce village in the Korean Demilitarized Zone (DMZ), one possible venue, hosted meetings between North and South Korea in the run-up to the Winter Olympics.

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Nokia 7 Plus Sold Out In 5 Minutes In China

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Nokia 7 Plus Sold Out In 5 Minutes In China

Nokia 7 Plus Sold Out In 5 Minutes In China

The first batch of Nokia 7 Plus  releases in China has reportedly sold out in 5 minutes. Can I imagine ?

As soon as the virtual shop doors opened at 10:07am, it took only 5 minutes for all available units of the new Nokia phone to be sold out.

The phone sold for CNY 2,300 for the 4GB/64GB version and CNY 2,500 for the 6GB/64GB version (that’s €239 and €318 respectively).

There will be another batch available in about a week – on March 15 at 10:07am. Chances are that the new batch will be gone just as quickly. Of course, neither HMD nor the stores will say how many phones are in a batch.

As for people not in China, we’ll have to wait until April. The Nokia 7 plus is set to cost €400 in Europe (and it doesn’t look like the Old Continent will get the 6GB RAM version).

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King Mohammed VI of Morocco undergoes Successful Heart Surgery in France

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 King Mohammed VI of Morocco undergoes Successful Heart Surgery in France

King Mohammed VI of Morocco undergoes Successful Heart Surgery in France

King Mohammed VI of Morocco yesterday underwent a successful heart surgery in France, state news agency MAP reports.

The 54-year old monarch was treated at a Ambroise Paré Clinic in Paris after he had been diagnosed with an “atrial flutter”. The surgery normalised the heart rhythm, and the king would be able to resume his duties without any restrictions.

The photo of King Mohammed VI on the hospital bed, surrounded by relations has since leaked on the internet. A full statement from MAP read:

“HM the king had on Saturday 20th January 2018 a heart rhythm disorder. The doctors of HM the King said that medical examinations carried out for this purpose revealed an atrial flutter. The ablation by radio frequency of this arrhythmia, performed today at the Ambroise Paré clinic in Paris, allowed the normalization of the heart rhythm. At the end of a rest period as prescribed by his treating physicians, HM the King will resume his normal activities without any restriction.”

King Mohammed VI of Morocco undergoes Successful Heart Surgery in France

Statement by the medical team composed of: Dr Abdelaziz Maouni, Dr Olivier Thomas, Dr Sébastien Bloc, Dr Olivier Dubourg, Dr Ali Chaib, Dr Lahcen Belyamani. The king, who heads the Muslim world’s longest-serving dynasty, took office in 1999 after his father, Hassan II, died of a heart attack.

The political and social stability of Morocco is closely watched by Western governments as it is the only country in North Africa where jihadist groups have failed to gain a foothold, and is an important partner against Islamist militancy in terms of intelligence-sharing.

The kingdom has escaped mass uprisings such as in Egypt, Libya or other Arab countries, but protests have erupted since 2016 in some rural areas against poverty and unemployment. Morocco has averted previous protests with a combination of limited constitutional reforms, heavy policing and hefty public spending.

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