Showing posts with label 2010. Show all posts
Showing posts with label 2010. Show all posts

Saturday, February 19, 2011

IMF Executive Board Concludes 2010 Article IV Consultation with Nigeria

18 Feb 2011 05:16 Africa/Lagos


IMF Executive Board Concludes 2010 Article IV Consultation with Nigeria

ABUJA, February 17, 2011/African Press Organization (APO)/ -- On February 11, 2011, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Nigeria.1

Background

Nigeria has weathered the global economic recession and its own domestic banking crisis reasonably well. Economic growth in the first half of 2010 remained above 7½ percent and is expected to reach about 8½ percent for the whole year on the back of a recovery in oil production and continued strong growth in other sectors. However, inflation has been stuck in the low double digits for the past two years and foreign reserves have been falling as the Central Bank of Nigeria has focused on maintaining exchange rate stability and low interest rates.

The fiscal stimulus intensified in 2010, notwithstanding the already solid growth performance and high inflation. After rising by 10 percent in 2009, consolidated public spending increased by 37 percent in 2010. The non-oil primary deficit has increased by 5 percentage points to 32 percent of non-oil GDP. Despite world oil prices well in excess of the budget benchmark price, the government spent all current oil revenues and drew on savings in the Excess Crude Account, at a time when stabilization called for a rebuilding of buffers. Despite high inflation, the CBN reduced the rate on its standing deposit facility. In response to pressure on the currency, the CBN sold reserves rather than raise interest rate or let the exchange rate depreciate. The CBN recently raised interest rates, but short-term real interest rates remain negative.

The economic outlook remains positive and risks are generally balanced. Nigeria's economy is projected to grow by 7 percent in 2011, moderating gradually in subsequent years. Inflation is projected to decline to 9 percent by the end of 2011. Near-term risks to growth mostly relate to domestic factors. On the upside, a shift in government spending towards capital formation and planned reforms in the power sector could boost growth, and passage of the Petroleum Industry Bill could unlock additional investments in the oil sector. On the downside, there is a greater risk of lower rather than higher oil production. The inflation risk hinges crucially on the 2011 budget. The National Assembly could pass a more expansionary budget for 2011 than was submitted, undermining the CBN's ability to deliver on inflation. Finally, speculation against the naira could become intense should reserves continue to fall.

Executive Board Assessment

Executive Directors noted that Nigeria's strong external position and low debt helped mitigate the impact of the global financial crisis. However, a pro-cyclical fiscal stance and an accommodative monetary policy have resulted in high inflation and a loss in international reserves.

Directors supported the authorities' planned fiscal consolidation to rebuild fiscal space and contain price pressures. They welcomed efforts underway to strengthen nonoil revenues, as well as the draft budget for 2011, which aims to reverse the expansion in real public spending in 2010. Directors also saw the need for a strong oil-revenue rule to prevent policy pro-cyclicality going forward. In this regard, they welcomed the authorities' intention to establish sovereign wealth funds under the Nigerian Sovereign Investment Authority (NSIA) to shield the budget from oil-revenue volatility and enhance the management of oil wealth. However, noting that one of the NSIA funds would finance infrastructure projects, they encouraged the authorities to channel such expenditures through the budget in order to safeguard the stabilization function of the NSIA and the quality of public investment.

Directors considered the central bank's recent increase in policy rates appropriate. Further monetary tightening may be needed should inflation pressures continue. Directors took note of the staff's assessment of an overvaluation of the naira, and stressed that greater exchange rate flexibility would prevent one-way bets in the foreign exchange market and cushion external shocks.

Directors expressed concerns about potentially conflicting objectives of monetary policy and advised that the policy framework should focus more clearly on price stability. They generally agreed that moving gradually toward an inflation-targeting regime, once the necessary institutional underpinnings are in place, would help anchor inflation expectations. Directors generally supported scaling back the central bank's development finance initiatives as soon as feasible while protecting the central bank's balance sheet and pursuing reforms to deepen capital markets.

Directors commended the authorities for their actions to stabilize the financial sector. They welcomed the establishment of an asset management corporation to clean up bank balance sheets and encouraged the authorities to maintain full transparency in bank resolution.


Source: International Monetary Fund (IMF)


Releases displayed in Africa/Lagos time
18 Feb 2011
18:19 Tunisia / Europe should do more for development, says Frattini
05:16 IMF Executive Board Concludes 2010 Article IV Consultation with Nigeria
17 Feb 2011
18:44 Le Nord-ouest du Tchad: la prochaine zone à haut risque?
18:41 Chad's North West / The Next High-Risk Area?
16:49 Rotary Clubs Light up the World to End Polio
16:00 UNAMID Joint Special Representative Ibrahim Gambari's statement to the press




Friday, January 14, 2011

Presidential Primary is the celebration of Jonathan and the humiliation of Atiku


A happy President Goodluck Jonathan

The presidential primary of the ruling People’s Democratic Party (PDP) was the celebration of the incumbent President Goodluck Jonathan and the humiliation of Alhaji Atiku Abubakar. Jonathan won the presidential primary on Thursday January 13, 2010, in the Federal Capital of Abuja by a landslide as he thoroughly defeated his two opponents Alhaji Atiku Abubakar, a former vice president of the most populous country in Africa and Mrs. Sarah Jibril. Mr. Jonathan had 2,736 votes compared to Abubakar's 805. Mrs. Jibril had only a single vote.


Alhaji Atiku Abubakar

Mr. Jonathan as the presidential candidate of the PDP will now confront more formidable opponents from the opposing parties in the April presidential elections.
"He has not prepared himself to govern. He found himself accidentally as a president, and power being what it is, insists on continuing to govern," Abubakar said last Wednesday, but the majority of the delegates seemed to have ignored his criticisms and overwhelmingly rejected him.



Thursday, December 30, 2010

Best & Worst of 2010: Facebook is Top Search Term in 2010



Social network site http://www.facebook.com/Facebook top-visited Website in 2010.


Releases displayed in Africa/Lagos time
30 Dec 2010
18:06 American Lung Association Selects Eleven Biggest 'Clean Air' Events of 2010
19:00 Top 10 Automotive Stories of 2010: Toyota's Nightmare Year Selected As #1
29 Dec 2010
23:33 Facebook was the Top Search Term in 2010 for Second Straight Year
15:00 The Baby Names A-List: BabyCenter® Announces Favorite (And Least Favorite) Celebrity Baby Names of 2010
28 Dec 2010
17:01 Top Movies of 2010: Redbox Counts Down the Year's Top Rentals
21 Dec 2010
15:44 AARP The Magazine Announces the Top 10 Movies For Grownups® of 2010
20 Dec 2010
21:08 Crisis Expert and Author David Margulies Picks Best and Worst Crisis Management in 2010
15:04 The Ten Worst Media Disasters of 2010
13 Dec 2010
16:01 British Petroleum, Toyota and National Public Radio Top 2010 PR Blunders
15 Dec 2010
21:01 eBossWatch Publishes 2010 List of America's Worst Bosses
14 Dec 2010
14:00 Phil Lempert Names the Best and Worst Food Products of 2010
8 Dec 2010
06:01 Motor Press Guild Announces 2010 Dean Batchelor Award Winners
6 Dec 2010
17:00 McGraw-Hill Construction Announces 2010 Best of the Best Awards
15:00 Wine.com Releases Top 100 List; Reports Record Holiday Sales
16 Nov 2010
18:56 Hudson Booksellers Announces the Best Books of 2010





Photo Credits:

http://www.irishhealth.com/

http://www.mmorpg.com/newsroom.cfm/read/19116



Tuesday, September 28, 2010

John Dabiri named among 23 New MacArthur Fellows

John Dabiri

Prof. John O. Dabiri, 30, of Graduate Aeronautical Laboratories and the Option of Bioengineering at Caltech is among the 23 new MacArthur Fellows. His major focus is on Mechanics and dynamics of biological propulsion, fluid dynamic energy conversion.

MacArthur describes him as a "biophysicist investigating the hydrodynamics of jellyfish propulsion, which has profound implications for our understanding of evolutionary adaptation and such related issues in fluid dynamics as blood flow in the human heart."

Dabiri graduated from Princeton University with a B.S.E. degree summa cum laude in Mechanical and Aerospace Engineering in June 2001. In September 2001, he came to Caltech as a National Defense Science and Engineering Graduate Fellow, Betty and Gordon Moore Fellow, and Y.C. Fung Fellow in Bioengineering. Under the supervision of Professor Morteza Gharib, he earned an M.S. degree in Aeronautics in June 2003, followed by a Ph.D. in Bioengineering with a minor in Aeronautics in April 2005. He joined the Caltech faculty as an Assistant Professor in May 2005. In 2008, he was selected as an Office of Naval Research Young Investigator for research in bio-inspired propulsion, and Popular Science magazine named him one of its "Brilliant 10" scientists. He was selected for a Presidential Early Career Award for Scientists and Engineers (PECASE) and was promoted to Associate Professor with tenure in 2009.

The following is the news release on the 23 2010 MacArthur Fellows.


28 Sep 2010 05:01 Africa/Lagos

23 New MacArthur Fellows Announced

CHICAGO, Sept. 28

Out of the blue – $500,000 – No strings

CHICAGO, Sept. 28 /PRNewswire-USNewswire/ -- The John D. and Catherine T. MacArthur Foundation today named 23 new MacArthur Fellows for 2010. Working across a broad spectrum of endeavors, the Fellows include a stone carver, a quantum astrophysicist, a jazz pianist, a high school physics teacher, a marine biologist, a theater director, an American historian, a fiction writer, an economist, and a computer security scientist. All were selected for their creativity, originality, and potential to make important contributions in the future.

The recipients just learned, through a phone call out of the blue from the Foundation, that they will each receive $500,000 in "no strings attached" support over the next five years. MacArthur Fellowships come without stipulations and reporting requirements and offer Fellows unprecedented freedom and opportunity to reflect, create, and explore. The unusual level of independence afforded to Fellows underscores the spirit of freedom intrinsic to creative endeavors. The work of MacArthur Fellows knows neither boundaries nor the constraints of age, place, and endeavor.

"This group of Fellows, along with the more than 800 who have come before, reflects the tremendous breadth of creativity among us," said MacArthur President Robert Gallucci. "They are explorers and risk takers, contributing to their fields and to society in innovative, impactful ways. They provide us all with inspiration and hope for the future."

Among the recipients this year are –

a type designer crafting letterforms of unequaled elegance and precision that span the migration of text from the printed page to computer screens (Matthew Carter);
a biomedical animator illuminating cellular and molecular processes for a wide range of audiences through scientifically accurate and aesthetically rich animations (Drew Berry);
a sign language linguist focusing on the unique structure and evolution of sign languages and how they differ from spoken languages and each other (Carol Padden);
a population geneticist mining DNA sequence data for insights into key questions about the mechanisms of evolution, origins of genetic diversity, and patterns of population migration (Carlos D. Bustamante);
a sculptor transforming her signature medium of marble into intricate, seemingly weightless works of art (Elizabeth Turk);
a public high school physics teacher instilling passion for the physical sciences in young men and women through an innovative curriculum that integrates applied physics, engineering, and robotics (Amir Abo-Shaeer);
an American historian disentangling the interracial bloodlines of two distinct founding families to shed fresh light on our colonial past (Annette Gordon-Reed);
a fiction writer drawing readers, through spare and understated storytelling, into compelling explorations of her characters' struggles in both China and the United States (Yiyun Li);
a computer security scientist peeling back the deep interactions among software, hardware, and networks to decrease the vulnerability of computer systems and networks to remote attack (Dawn Song); and
an entomologist protecting one of the world's most important pollinators—honey bees—from decimation by disease (Marla Spivak).

Additional biographical information, video interviews, and downloadable photographs are available at www.macfound.org .

"There is something palpable about these new MacArthur Fellows, about their character as explorers and pioneers at the cutting edge. These are women and men improving, protecting, and making our world a better place for us all. This program was designed for such people—designed to provide an extra measure of freedom, visibility, and opportunity," said Daniel J. Socolow, Director of the MacArthur Fellows Program.

The inaugural class of MacArthur Fellows was named in 1981. Including this year's Fellows, 828 people, ranging in age from 18 to 82 at the time of their selection, have been named MacArthur Fellows since the inception of the program thirty years ago.

The selection process begins with formal nominations. Hundreds of anonymous nominators assist the Foundation in identifying people to be considered for a MacArthur Fellowship. Nominations are accepted only from invited nominators, a list that is constantly renewed throughout the year. They are chosen from many fields and challenged to identify people who demonstrate exceptional creativity and promise. A Selection Committee of roughly a dozen members, who also serve anonymously, meets regularly to review files, narrow the list, and make final recommendations to the Foundation's Board of Directors. The number of Fellows selected each year is not fixed; typically, it varies between 20 and 25.

The MacArthur Foundation supports creative people and effective institutions committed to building a more just, verdant, and peaceful world. In addition to selecting the MacArthur Fellows, the Foundation works to defend human rights, advance global conservation and security, make cities better places, and understand how technology is affecting children and society. More information is at www.macfound.org.

SOURCE MacArthur Foundation

CONTACT: Pete Boyle, pboyle@lipmanhearne.com, or Adam Shapiro, ashapiro@lipmanhearne.com, +1-202-457-8100, both for MacArthur Foundation; or Andy Solomon of MacArthur Foundation, +1-312-726-8000, asolomon@macfound.org


Web Site: http://www.macfound.org



Monday, September 6, 2010

Nengi Josef Ilagha Writes Queen Elizabeth II on Nigeria’s 50th Independence Anniversary

Majesty Nengi Josef Ilagha, Mingi XII, Amanyanabo of Nembe

News Flash

As Nigeria prepares to celebrate her Golden Jubilee anniversary on October 1, 2010, the London-based Nigerian poet, journalist and broadcaster, Nengi Josef Ilagha, forwards a Royal Mail to Queen Elizabeth II, the constitutional monarch of England who will be marking her Diamond Jubilee anniversary on the throne in 2012. In twelve gutsy, friendly, sober and soul-searching epistles, the author takes the Queen on a revealing ride into the corrupt character and unwholesome habits of a nation on the verge of rebirth, and invites her to push for the restoration of the values that make England a stable and prosperous model.

Told through the perceptive lenses of a poet with a knack for refreshing imagery, the book is an incisive and harrowing testament on the state of the most populous African country, fifty years into its life as a nation, laying bare its shameful inadequacies, and underscoring its hopeful impact on world affairs. Delivered in a lucid, winsome and personable style which dollies in from time to time to undertake a dramatic exposition of the British colonial mentor and life in London, Royal Mail is inspired by Her Majesty’s efficient postal delivery service.

The book promptly finds its place beside Chinua Achebe’s popular 1983 commentary, The Trouble With Nigeria, with the added advantage that it extends its critical antenna to England and finds the colonizer culpable of the political rot in present-day Nigeria, no thanks to the divide-and-rule ethic enthroned by the British under Lord Frederick Lugard’s pioneering tenure as Governor-General of the West African nation. The following is the opening epistle from Royal Mail, published by Treasure Books, Nigeria.


I

City Boy

The men who succeed are the efficient few
- Herbert N. Casson


YOUR ROYAL MAJESTY, I am glad to make your acquaintance. I am led by none other than the hand of God to address this humble epistle to you. I have no doubt that your efficient mail delivery service will bring these words before your eyes in the fullness of time. As you will soon come to understand, I have quite a lot to say to you, and I will say it as the pages flip by, so help me God.

Allow me to begin by congratulating you on your fifty-eighth anniversary in office. That is quite a long time to serve your land and people as Queen. You have been monarch of England for as long as Ron and Don, the world’s most famous conjoined twins have been together, bound by flesh from day to day, minute after minute. I happen to have seen them for the first time on BBC 4 television on the night of March 4, 2010, and it got me thinking. They were born one year after you ascended the throne at Sandringham.

By all accounts, you will be marking your Diamond Jubilee in 2012. I find myself suitably equipped and qualified, therefore, to address you in the twelve epistles that make up this small loaf of bread, even as you come to understand that two of my sons go by the names of Diamond and Jubilee. But let me not get ahead of my story. Let me take one letter at a time, one word at a time, one line at a time, one paragraph at a time, one page at a time, one chapter at a time.

You have been at the head of government for so long, witness to the policies and programmes of Prime Ministers as varied in temperament and carriage as Anthony Eden was from Gordon Brown. Not too long ago, I saw pictures of Winston Churchill, Eden’s predecessor, upon the satellite clouds, delivering excerpts of his famous speeches in the finest manner of a war-time hero. Quote. Let each man search his conscience and search his speeches. I frequently search mine. Unquote.

Your Majesty, do you mind taking a look at your speech to Nigeria on October 1, 1960? Remind yourself of the things you said to the new nation, the promises you failed to keep. I say this advisedly, because I have before me your speech to the Commonwealth delivered on May 8, 2010.

Today’s societies are constantly seeking ways to improve their quality of life, and science and technology play a vital part in that search…Experimentation, research and innovation, mean that more opportunities for improving people’s lives exist today than ever before. Take long distance communication, where the obstacles of time and geography have been dramatically reduced: people can now use mobile phones to be in instant contact virtually anywhere in the world, be it with a medical centre in the Himalayan mountains in Asia, a Pacific island school, a research facility at the South Pole, or even the international space station, beyond this planet altogether.

I share your sentiments, Your Majesty. I look forward to your next speech, the one you will address to the President and good people of Nigeria on their Golden Jubilee anniversary, the one that will pronounce restoration to a long-suffering nation. Suffice it to say, for now, that Nigeria is not some space station beyond this planet. It is a country you once ruled with pride and honour. By virtue of modern communication devices, we can still be reached by phone, in spite of frustrations with the network. But anyone you call up in our beleaguered country will assure you that conditions of living could have been better than they are today. Take it from me.

By and by, it should strike you as a sign that Sir Anthony Eden was the first Prime Minister under your watch. I shall have a lot to say about Eden, the parcel of land upon which the first man and woman were moulded from the mud of the earth. Of course, as a fervent Christian, I take my bearings from the Bible. Now we dwell in the present, listening to the rhetoric of David Cameron and Nick Clegg, to say nothing of the Miliband Brothers. I am a witness to history in the making. I abide with you. I can only say it is your portion to have been so blessed, so revered, so adored for over five decades of your life in prosperity and opulence.

I have no doubt that you have questions of your own bubbling within you right now, questions you wish to direct at me. Verily, verily, I will be only too glad to give ear and hearken, to say nothing of answering them as the days unfold, but I suppose you will let me exhaust myself on the subjects I have set out to address in this long epistle to Her Majesty, Queen Elizabeth II of England. Even so, I cannot proceed without running the full course of the pleasantries which I must not fail to offer, from my meek and gentle self to every member of the Royal Family, acting on behalf of the President and people of the Federal Republic of Nigeria.

How are you today? How is the Queen Mother? How is Prince Phillip? How is Prince Charles? How is Prince William? And how is Prince Harry? O, how is Princess Anne, the one you sent to represent you at Tafawa Balewa Square in Lagos on October 1, 1960? How did you find Nigeria on your maiden visit in the first week of December, 2003? What gift do you have in mind for the country you once colonized, as it marks its Golden Jubilee? These questions popped up in my mind in that particular order on February 6, 2010, when I read in the internet rather belatedly that you were marking your anniversary in Sandrigham. It was remiss of me not to have put my thoughts on paper at the time and date in question, on account of the poor weather. As the saying goes, however, better late than never. I have never been at home with the cold, and I will tell you why. I am a child of the sun, that’s why. At any rate, I have no doubt that your family is in good health and excellent spirits.

Your Majesty, I will do well not to hold back what I have to say to you. If I have rambled round and about the subject up to this point, put it down to a royal habit I acquired since I became king. That last bit of information, indeed, should give you a fair idea as to how I summoned the audacity to extend a few words of hope in conversation with Your Imperial Majesty, as Nigeria marks her Golden Jubilee. Do allow me to whisper this detail in your ear, if you don’t mind coming a little closer. I am His Royal Majesty Nengi Josef Ilagha, Mingi XII, Amanyanabo of Nembe Kingdom. I am also the author of twelve books spanning the full calendar, from January through December, as you may have noticed from the Pope Pen Library that prefaces this book. Glad to meet you.

Time does fly, Your Majesty. Don’t you find it amazing that you have ruled Britain for all of fifty-eight years, that in a couple of years you will be marking your Diamond Jubilee? Isn’t God wonderful to have kept you through the storm of eleven Prime Ministers? Before David Cameron showed up, I was wondering who would be your Twelfth Prime Minister. Now we know that you are overseeing the first coalition government since 1945. May God give you the fortitude and grace to undertake the assignment to the glory of his name.

Lest I forget, let me promptly invite you to my coronation ceremony in the selfsame critical year of transition which marks your Diamond Jubilee. I shall be formally ascending the throne in that capital year, 2012, as King of Eden, better known as Nembe in modern geography. I have no doubt that your entire entourage will be on hand to demonstrate to our land and people what the imperial ceremonies are like, and should be, even in a former colony such as Nigeria. Do bring along your beefeaters, your buffeters, your bagpipes, your puppeteers, your horses, your Metropolitan police and your Imperial Guard of Honour.

Come and stage a carnival as colourful, as grand, as magnificent, as brilliant, as vintage as the one I just witnessed at Nothinghill. Come with your trumpets, come with your bugles. Come and stage a lavish party in Nigeria, beginning from Bayelsa. Come to the Glory Of All Lands. You must come and set a new standard, or at least, revive the memory of our people as to what it means to be part of the British Commonwealth. What is more, I believe you will do well to send word to your worthy counterparts in Spain, Denmark, Jordan and such other countries where the monarchy is still respected as a timeless institution, to grace the coronation ceremony of Pope Pen The First.

There we are! The proverbial cat is out of the bag, out of the proverbial bin, in spite of all the efforts of the Mary Bales of this wicked world. My friends call me Mingi Nengi XII, the Lion King of Nembe. So now you know why I am so conscious of the year 2012. What are your earnest plans for your Diamond Jubilee celebration in 2012? I want to be a part of it all. Well, now we have our bearings right, let us get down to brass tacks, so to speak. But let it not be that I am being presumptuous. It is possible that you cannot quite place Nembe on the map of British history, so I will go so far as to help you.

Fifty-eight years is a long time indeed, Your Majesty. So much has happened. So much more is happening, even as we speak. You may have forgotten certain matters that called for your urgent attention in times past. You may at present be preoccupied with A Journey, the memoirs of Tony Blair. I have my copy in hand as well. I will read it on the Tube, from Golders Green to Finchley, from Finchley to Baker Street, from Baker Street right through to Aldgate. Up and down the Jubilee Line, I will read from Stanmore to Stratford and back, my all-day travel card in my pocket, like a typical City Boy. But let me not digress.

As I was saying, Your Majesty, certain incidents may have become mere figments from the past, as if they never happened. Certain faces may have become blurred in memory. Certain names and dates may escape you from time to time in the course of conversation. I don’t blame you. After all, none of my royal predecessors kept you in remembrance of our abiding relationship as colonizer and colonized, certainly not the last Mingi of Nembe. I do hope that the language you left behind in my country will avail me with the right and proper words to express myself to the fullest, and to extend the great expectations that my subjects back home want you to consider, without let, without hindrance.

From time to time, I shall consult Daniel Ogiriki Ockiya, the reverend gentleman who extensively documented the historic Nembe-British War of 1895 in The History of Nembe, and E.J. Alagoa, Emeritus Professor of History, University of Port Harcourt, author of The Small Brave City-State. The credentials of these noble sons of the soil lie in the fact that they had the presence of mind to record the events of the day as faithfully as they could manage. They deserve trophies from Her Majesty The Queen, as much as many gallant Nigerians who have contributed to the grandeur of England in no small way.

As Nigeria turns fifty, Your Majesty, it is tempting to undertake a comparison of the country you once colonized and check it for critical differences with yours, from the time Britain annexed our parcel of land after the partitioning of Africa in 1884, right up to 1960 when we returned the Union Jack to you through Princess Anne of Kent, right up to the present -- and to see just how far we have come as a nation. I shall promptly fall for this temptation. The internet is my witness. I shall consult it for facts. I shall also do well to conduct a cursory parade of your queenly parks, your royal gardens, your busy highways, your underground network of rails and its workaday population, in order to put in fair perspective the disparities between Lagos and London, between Brass and Brighton, between Nembe and Nottingham.

I want to hail Nigeria, Your Majesty. But I find it hard to do so. I want to hail the profound ideals expressed in the inaugural national anthem composed by Flora Shaw, Lord Lugard’s companion, who first gave us the name Nigeria in an article published in The Times of London on January 8, 1897. Nigeria is not quite the same country you granted political independence in 1960. Take it from me. In the words of one of your famous political theorists, Thomas Hobbes, life in present-day Nigeria is “short, nasty and brutish.” I will tell you why. I am obliged, indeed, to bring you abreast with developments in my beloved country, with particular emphasis on the state of my domain. But if the matters I bring before you in the intervening pages sound confusing, if this epistolary journey upon which we have embarked, qualifies as a mosaic of sentiments trussed up together, without form or order, don’t blame me too much. Put it down to the chaotic temper of my country, the haphazard scheme of existence under which we have laboured, these past fifty years.

Even so, I assure you that our nation is on the verge of rebirth. Good luck has come to Nigeria. There is an inevitable tectonic shift in the political order. I invite you to push for the restoration of the values that make England such a prosperous and stable example, that we might take our cues afresh. I have no doubt that you will give me your fullest attention. I will do well not to bore you, but if I do so at all, put it down to my second-hand acquaintance with the Queen’s English.
I will do well to be reasonable. I will do well to uphold the truth, the whole truth and nothing but the truth, so help me God. I pledge not to insult your royal intelligence. I promise to remain faithful to the picture I have studied of my country since I was born into it on December 18, 1963. I am, Your Majesty, a full-grown child of the Federal Republic of Nigeria in the best sense of the expression. I will do well to grip my country, literally by the scruff of the neck, and yank it for faith.

Verily, verily, I say unto you, no one can take that divine right away from me.


By His Majesty Nengi Josef Ilagha
Mingi XII, Amanyanabo of Nembe
Bayelsa State, Nigeria

More from the same author.
A Memorial Tribute to a Fisherman, Melford Obiene Okilo
A Perspective on Goodluck Jonathan’s Attitude to Governance While He Was Governor of BayelsaState
King Ilegha Writes to Vice President Goodluck Jonathan On the Trashing of the Nigerian Constitution By Those Who Want to Prevent Him from Attaining the Presidency
A Profile of Goodluck Jonathan, Vice President of Nigeria
"Tattoes Are Forever": A Discussion of Nigeria's Social Ills
Epistle to Maduabebe:A Fictional Portrayal of Corruption in Nigeria



Thursday, July 15, 2010

Haiti: 6 months after the Earthquake


A status update six months after the 2010 Haitian Earthquake

The U.S. Department of State invites you to participate in a conference call discussing reconstruction and recovery efforts six months after the earthquake.


Speakers:
• Patrick Gaspard, Director, White House Office of Political Affairs
• Julissa Reynoso, Deputy Assistant Secretary for Caribbean and Central American Affairs, Bureau of Western Hemisphere Affairs, U.S. Department of State
• Jerome Oetgen, Public Affairs Counselor, Embassy Port-au-Prince, Haiti


We will stream the discussion live via Blog Talk Radio . Tune in today, July 15th at 1:00pm ET to listen to the discussion.

Note: We will not accept questions from callers on blog talk radio for this conversation on Haiti. However, we hope to host future episodes on Foreign Policy topics that interest you and hope to allow questions via Blog Talk Radio then.



Tuesday, July 6, 2010

Inaugural Eko International Film Festival Opens Wednesday July 7 in Lagos

A scene from Glamrock City, the Opening Film of EKOIFF

Inaugural Eko International Film Festival Opens Wednesday July 7 in Lagos

The inaugural Eko International Film Festival (EKOIF) opens Wednesday July 7 at the prestigious Genesis Deluxe Cinemas at The Palms in Lekki, Lagos.

Award winning filmmakers from Germany, UK, Spain, France, Albania, Kenya and Nigeria are participating in the film fiesta with over 25 films including the thrilling Glamrock City and the King of Palma.

The thrilling tale of the femme fatale, "ART ET DECES aka Glamrock City," written and directed by Christophe Kourdouly and Stéphane Jauny, opens the film festival and to be followed by the screening of other films from Wednesday to the closing day at the weekend.


The following is the list of the selected films.


1. The Man in the Ground
Director:Jesus Risueno
Duration:19minutesSynopsis:winter,every nigh in the city streets, on unknown person is brutally murdered. There is no relation between the victims, no purpose no evidence.
Year:2010
Country: Spain

2. El Forjador De Historias(The Storymaker)
Director: Jose Gomez Gaugo
Duration:15 minutes
Synopsis: For better or worse, Nothing escapes my will.
Year 2009
Country: Spain

3. The Cortege(Elr Cortejo)
Director ;: Marina Sereseky
Duration: 14 minutes
Synopsis:
Cap is the oldest to grave digger in the cemetery. Used to working amidst the suffering of others and the jokes of his colleagues there is only one person capable of taking him out of his daily routine. Every month for the last couple of years he has waited for months to take flowers to the groove of her husband. She is his last hope.
Year:2009
Country :Spain

4.Thunderbolt And The Mermaid
Director: Diego Sanchidrian Rubio
DURATION:11minutes
Synopsis: It is said that dreams are unreachable for they are far away,hiding beyond the stars. But in order to make them come true you do not have to know where they hide, you just do not have to be bold enough to

5. Balcony Boy
Director: Pilar Palomero
Duration: 10 minutes
Synopsis: Balcony Boy, poor balcony boy. His fault?
Having big ears. His bad habit? Putting his head where he shouldn’t have.
Year: 2005
Country: Spain

6. Fearful John (Juan Con Miedo)
Director: Daniel Romero
Duration: 11 minutes
Synopsis: During the holidays at his grandparents village, John meets Mary, a mysterious girl who tells the terrifying legend surrounding the peasant’s old house. John, unlike the character in the tale is fearful, Mary is not.
Year: 2010
Country: Spain

7. Antena
Director: Geatian Rexhep Koci
Duration: 19 minutes
Year: 2010
Country: Albania

8. Jinx in a Jiffy
Director: Geatian Rexhep Koci
Duration: 18 minutes
Year: 2010
Country: Albania

9. Trope Zones
Director: David Macian And Eduardo Molinari
Duration: 6 minutes
Synopsis: He’s crazy about food; she’ll do anything to please him. A perfect romance as long as something is in the fridge.
Year : 2010
Country: Spain

10. La Union
Director: Carlos A. Sambricio
Duration: 18 minutes
Synopsis: Sara encounters her boyfriend Fran, who died in a car crash six months earlier. A mysterious and breathtaking develops as Fran employs a hypnotic seduction game in order to convince Sara that he is real and that they can be together again.
Year: 2008
Country: Spain

11. Out Of Here
Director: Chino Moya
Duration: 8 minutes
Synopsis: After a dispute, a young woman leaves her older boyfriend’s comfortable apartment.
She has nowhere to go, so she wanders the streets aimlessly, eventually ending up in a café where she has a random encounter.
Year: 2010
Country: Spain/UK

12. Weightless
Director: Oliver Krafcht
Duration: 10 minutes
Synopsis: 18th Century: Five children spend the day outside in a mysterious garden. When they try to fly a kite, they discover a tree full of red berries. The oldest girl Elsie warns that these fruits are poisonous, but the children don’t listen and try them. They are sweet, but soon the poison begins to work…
Year: 2010
Country: Germany


13. Dolls
Director: Rosa Marquez
Duration: 14 minutes
Synopsis: Ana wakes up in an old abandoned stable; next to her, there is a mysterious girl who seems to have been there for a long time, but the only thing she can find out about her is her name: Irina. Ana will try desperately to get Irina’s help to escape from their captor.
Year: 2009
Country: Spain

14. Ansiedad (Anxiety)
Director: Eduardo Casanova
Duration: 25 minutes
Synopsis: Violeta Largertija is a great prima donna with social phobia. Violeta can neither speak nor relate by anybody that knows her, with her lovesick character, she survives feeding on tranquillizers.
Bertlo is crazy in love with Violeta, but he knows her problem and has a plan to know her.
Anxiety is a story about tranquillizers, an eccentric story, egocentric, excessive, melodramatic, dark, but especially anxious.
Year:2009
Country: Spain

15. Pumzi – The Outside Dead
Director: Wanuri Katchiu
Duration: 20 minutes
Synopsis: Futuristic Africa, 35 years after World War 3, the water war…. Nature is extinct. The outside is dead. Asha lives and works as a museum curator in one of the indoor communities set up by the Maitu Council. When she receives a box in the mail containing soil, she plants an old seed in it and the seed starts to germinate instantly. Asha appeals to the Council to grant her permission to investigate the possibility of life on the outside but the Council denies her exit visa. Asha breaks out of the inside community to go into the dead and derelict outside to plant the growing seedling and possibly find life on the outside.
Year: 2009
Country: Kenya

16. Bonnie and Clyde
Director: Omoyemi Jolaoso
Synopsis:
Bonnie and Clyde is a short film about two young people looking for survival in a harsh terrain of Lagos city. They engage in stealing mobile phones, gadgets and electronics being the most popular survival tools in Lagos.
Year: 2010
Country: Nigeria

17. Made In Japan
Director: Ciro Altabás
Duration: 6 minutes
Synopsis: Pedro J. Marquez and I grabbed and went to Japan late last year to film a documentary about the culture video games.
Year: 2007
Country: Spain



Film Category : Feature Length :-

1. The King Of Palma
Director: Alix Francois Meier
Duration: 80 minutes
Synopsis: The king of Palma moves like Charlie Chaplin, looks like Mr. Bean and seems an aging film star when he walks his best friend Flocky, a little white dog, through the old part of town in a slightly bent position and with a cigarette in his mouth. When he's excited or happy, he rubs his hands together. His black hair is short and parted with great precision. When he talks to you, his kind blue eyes are both curious and penetrating at the same time.
“My name is Monsieur Bruno Regnault de Maulmin. I live in this street. And I am, maybe I am, how could I say, I might be the King of Palma. One could say: The King of Palma. I don't know if everybody knows. I think that I am the King of Palma, because I am sitting in the café and I go for a walk with my dog. But I am not like the King of Spain. I am the King of Palma, because I behave respectably."
Every day the Frenchman roams his kingdom in the heart of Palma de Mallorca. His quarter has the charm of a small Italian village: Sandstone-colored walls line the narrow, winding streets and alleys, sturdy houses with small doors stand next to venerable palaces and convents. This is his exterior world.
Bruno's inner world is the world of a twelve-year-old boy, one that he perceives in a very personal way. Bruno is a diagnosed schizophrenic. What matters to him are the little things in life, and his everyday encounters. What matters is when God talks to him, when he's helpless because his dog Flocky won’t accept his lead, when he's wondering why the police haven’t arrested him on his walk, when his 10-year old niece puts him into fancy dresses, or when a forgotten jar of mayonnaise runs out in his pocket.
Bruno lived in Paris by himself until 1991. He was all on his own, unable to cope with daily life. He would simply spend money until he had nothing left. In order to avoid sending him to a home for the mentally disabled, his French-Majorcan family decided to take him in. With much love and understanding, they help him to lead a relatively normal life. Bruno is very vital and optimistic. He often discovers new things in his life and is amazed at them. He hates maliciousness, violence, injustice and immoral behaviour.
He could be considered a perfect citizen, if it weren’t for his illness with his changing moods and the fact that even small things can completely disconcert him.
The film accompanies Bruno through his daily routine. The deeper we delve, the more we realize that Bruno’s life isn’t always as easy as it looks. And when his best friend Flocky disappears, his life goes completely out of control.
Year: 2010
Country: Germany

2. Glamrock City aka Art et Décès
Director: Christophe kay Kourdouly, Stephanie Jauny
Duration: 90 minutes
Synopsis: A thrilling tale of the femme fatale, "ART ET DECES aka Glamrock City," written and directed by Christophe Kourdouly and Stéphane Jauny, screened at the Marche on May 19th. Produced by Antetime Production, the film is of two girls who in search of inspiration kill men to capture their last breath of life and create Art from Death for their next painting exhibition. The film showed great emotion and an intriguing plot line that keeps your attention. In a twist, the directors listed above, including the third director, Luc Job, casted themselves into the final scene. An emotional and riveting tale, Glamrock City is a story of love taken to the extreme.
Year: 2010
Country: France/ UK


Documentary

1. Paisajes Interiores (Interior Landscapes)
Director: Gabriel Folgado
Duration: 80 minutes
Synopsis: Interior landscapes tells the story of mining industry in El Bierzo an area located in the Spanish province of León. Three generations of miners from the same family unfold the secrets of what it means to be a miner and live in a mining community. Through their memories, experiences and impressions we glimpse the reality of a group of people who share not only a job, but also a special way of life.
Year: 2008
Country: Spain

2. Hobby
Director: Ciro Altabás
Duration: 50 minutes
Synopsis: Hobby was conceived by director Ciro Altabas as a visual document to witness the release of the Nintendo Wii and the video-game culture in Japan. However, it slowly morphed into a showcase of some of the many ways in which the Japanese spend their leisure time. Watch this brilliant and very funny film over Christmas on RENDERYARD.
Year: 2008
Country: Spain


3. Dundun (Talking Drum)
Director: Kayode Ibisankale
Duration:
Synopsis: A documentary on the Yoruba Talking drum called Dundun.
Year: 2010
Country: Nigeria

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6 Jul 2010
13:00
QIAGEN Announces CE Marking of its careHPV Test for Developing Countries
5 Jul 2010
20:46
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The week ahead at the United Nations: the European perspective (26/10)3-9 July 2010 (and beyond)



Saturday, May 1, 2010

PricewaterhouseCoopers Says M&A Activity to Drive Fundamental Changes in Global Automotive Industry in 2010




30 Apr 2010 05:01 Africa/Lagos


PricewaterhouseCoopers Says M&A Activity to Drive Fundamental Changes in Global Automotive Industry in 2010

Deal value soars to $121.9 billion in 2009, brought on by government equity positions in sector

NEW YORK, April 30 /PRNewswire/ -- Automotive merger and acquisition (M&A) activity will continue to drive the fundamental changes necessary for the near-term restructuring and long-term sustainability of the industry, says PricewaterhouseCoopers LLP. According to the publication titled, Drive Value -- Automotive M&A Insights 2009, the deal market will play a critical role as market participants pursue transactions with a focus on synergies, including cost savings and adding revenue to their business.

(Photo: http://www.newscom.com/cgi-bin/prnh/20100430/NY95853 )

"The current deal environment is showing positive signs and presents a number of opportunities for both strategic and financial buyers who have access to financing," said Paul Elie, U.S. automotive transaction services leader, PricewaterhouseCoopers LLP.

"Companies with stronger operating models and cash positions will likely leverage M&A to develop a competitive advantage through the consolidation of scale and expertise," emphasized Paul McCarthy, U.S. automotive strategy leader, PricewaterhouseCoopers LLP.

The publication highlights a variety of factors driving the deal market in 2009 and provides an outlook for 2010 and beyond:

Global automotive M&A activity

Automotive M&A deal value soared to $121.9 billion for 2009, up 286 percent from $31.6 billion in 2008. The increase in deal value was influenced heavily by the U.S. Treasury investment in the vehicle manufacturing sector, which occurred in response to a near collapse of the automotive industry. Players across the automotive value chain reacted as they sought capital infusions, shed noncore assets, renegotiated debt obligations and pursued mergers of necessity.

Despite the record high deal value in 2009, the total deal volume fell to 532 transactions, representing a three percent decline from an already weak 2008 level and its lowest point since 2004.

"As we look forward, companies are likely to increase their focus on growth and the traditional drivers of M&A -- driving economies of scale, acquiring technology and expanding their geographic and customer base," said Elie.

Automotive companies seeking long-term success will drive the deal market in 2010, by developing and executing strategies for sustainable growth and value creation.

For more information on PricewaterhouseCoopers automotive deal capabilities and to download PricewaterhouseCoopers' Drive Value -- Automotive M&A Insights 2009 publication, visit: www.pwc.com/auto.

About the Transaction Services Practice

The PricewaterhouseCoopers Transaction Services (TS) practice provides due diligence for M&A transactions, along with advice on M&A strategy and integration, divestitures and separation, valuations, accounting, financial reporting, and capital raising. With approximately 1,000 deal professionals in cities in the U.S., and a global network of over 6,000 deal professionals in 90 countries, experienced teams are deployed with deep industry and local market knowledge, and technical experience tailored to each client's situation. The Transaction Services team can be involved from strategy to integration and employ an integrated business approach to uncover the realities of a deal. The field-proven, globally consistent, controlled deal process helps clients minimize their risks, progress with the right deals, and capture value both at the deal table and after the deal closes. For more information, visit www.pwc.com/ustransactionservices.

About PricewaterhouseCoopers LLP

PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance, tax and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 163,000 people in 151 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice.

"PricewaterhouseCoopers" refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity.

© 2010 PricewaterhouseCoopers LLP. All rights reserved.
Photo: http://www.newscom.com/cgi-bin/prnh/20100430/NY95853
http://www.newscom.com/cgi-bin/prnh/20100430/NY95853
PRN Photo Desk, photodesk@prnewswire.com
PRN Photo Desk, photodesk@prnewswire.com

Source: PricewaterhouseCoopers

CONTACT: Kristin McCallum, U.S. Automotive Marketing Leader,
PricewaterhouseCoopers, +1-313-394-6349, kristin.l.mccallum@us.pwc.com, or
Laura Schooler, PricewaterhouseCoopers, +1-646-471-3229,
laura.schooler@us.pwc.com

Web Site: http://www.pwc.com/



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30 Apr 2010
13:36 Darfur / UNAMID Daily Media Brief
28 Apr 2010
14:16 Darfur / UNAMID Daily Media Brief
27 Apr 2010
20:35 Statement attributable to the Spokesperson for the Secretary-General On the release of four UN police in Darfur
12:29 UNAMID peacekeepers released
26 Apr 2010
23:25 The Sudanese Have Spoken
12:24 Darfur / UNAMID Daily Media Brief

Releases displayed in Africa/Lagos time
1 May 2010
05:01 Anthony Lake Begins Tenure as UNICEF's Executive Director

03:33 America's Sheriff, Joe Arpaio, Consumer Advocate, Bogey, Endorse Upstart Conservative Challenger Phil Liberatore; Challenger Promises Fight to the Finish to Defeat Incumbent Gary Miller
02:36 Noted Environmental Attorney Stuart H. Smith of Smith Stag Law Firm, New Orleans, Louisiana Is Concerned About a Catastrophic Failure of the BP Deepwater Horizon Wellhead and Fluid Control Systems.
02:01 Concrete, Immediate US Action Needed to Implement the Policy of Three US Presidents on the Western Sahara
01:55 La comunidad empresarial hispana responde a la divulgación de la propuesta de reforma migratoria presentada por el Senado
01:20 Class Action Lawsuit Filed Over Oil Leak from Gulf Rig Explosion
01:00 American Red Cross of Greater Los Angeles Working With Philips Lifeline Medical Alert Service to Help Seniors Stay Independent
00:24 MultiVu Digital Center Feed: U.S. Ambassador to the EU Says U.S. and EU are Aligned in Major Global Issues Such as Nuclear Non-Proliferation, Mid-East Stability and Climate Change; EU Shifts from Eurocentric to External Focus.
30 Apr 2010
23:58 Arizona American Water President Paul Townsley Celebrates Grand Opening of White Tanks Regional Water Treatment Facility With ADEQ Director
23:55 ADL Congratulates Associated Students of UC Berkeley (ASUC) Senators for Standing Firm Against Factious Anti-Israel Divestment Resolution
23:54 MultiVu Digital Center Feed: Secretary Clinton Confirms Alliance with Kuwait, Seeks Arab States Support for a Two-State Solution in the Middle East and Warns of Increased Sanctions Against Iran During a Joint Press Availability with Kuwaiti Foreign Minister Mohammad Sabah Al-Salem Al Sabah
23:23 Tennessee Man Convicted of Illegally Accessing Sarah Palin's E-Mail Account and Obstruction of Justice




Thursday, April 22, 2010

30 Web Trends to Watch in 2010

30 Web Trends to Watch in 2010

Blogging
Blogs get even more authoritative and accepted, becoming the “old media” of the Web
Quick and clean miniblogging (Tumblr, Posterous etc.) establish a lively sphere between Twitter-like microblogging and blogging. @richardbaxter of SEOGadget agrees about Posterous continuous growth
Video content finally gets the importance we expected for years now with growing band width etc.



Monday, March 8, 2010

'Mummy and I'



'Mummy and I' is the second Single from Rodo's Debut Album, Dare to Differ.
Official Release date: 8th of March 2010. Available on itunes 8th of March 2010.
'Written for the best mum in the world'.
Produced by Calvin Gudu. 2010 Heartcut Records. All rights reserved.


Tuesday, February 2, 2010

Global Corporates Are Tiptoeing Cautiously Into 2010

2 Feb 2010 01:01 Africa/Lagos


Global Corporates Are Tiptoeing Cautiously Into 2010

But a significant minority planning for aggressive growth

LONDON, Feb. 1 /PRNewswire/ -- A comprehensive survey of senior executives at nearly 900 major companies worldwide by Ernst & Young reveals a very different business environment compared to twelve months ago but highlights a corporate world that for the most part is still nervous about recovery.


In January last year an Ernst & Young study, Opportunities in Adversity, asked companies about their key strategic priorities for 2009. Nearly three-quarters said they were focused on securing the survival of their present business and only 19% said they were looking to take advantage of the recession to pursue new market opportunities. As part of Ernst & Young's ongoing Lessons from change program, new research shows that by the beginning of December 2009, the percentage looking to pursue new opportunities this year has risen to 34%. Over half (53%) of companies, however, still agreed that surviving 2010 would still remain a challenge.


However, after the actions that many were forced to take earlier in the year it was not surprising companies were seeing progress with fewer still focused on improving the performance of their current assets, down from 39% to 27%, and the proportion still restructuring their business also declined from 37% to 27%.


John Murphy, Global Managing Partner - Markets, Ernst & Young said, "The spirit of optimism has increased, but it is essentially fragile in nature. A pick up in confidence is not surprising, given the massive global government stimulus working its way through the economy and the larger developing and emerging economies beginning to rebound. Companies may be less worried about survival over the next 12 months, but the return to a healthy operating environment is still some way off."


A significant minority are generating growth in EBITDA


Surprisingly, for a significant minority 2009 was a year when earnings improved. More than one third of companies surveyed reported that earnings before interest, depreciation and amortization (EBITDA) had grown by over 5% in the last 12 months. Remarkably in the context of a global recession, 7% of all businesses had seen a more than 20% increase in earnings.


Forty-five per cent of the companies based in Asia-Pacific and with a turnover of between US$100m and $500m reported in excess of 5% EBITDA growth. One-third of the very largest organizations surveyed (turnover exceeding US$10billion) also reported EBITDA growth exceeding 5%.


In Latin America (26%), Western Europe (28%) and Eastern Europe (29%) the proportion reporting 5% EBITDA growth or more was lower. By sector, more than 40% of pharmaceutical, aerospace and defense and banking companies exceeded the 5% growth threshold. Corporates in the oil and gas, manufacturing and automotive sectors were far more likely to report flat or declining earnings.


Murphy adds, "As we predicted last January, despite the turmoil and the challenges in 2009 there were some outright winners - companies that have found opportunity in the adversity. Judging by our research, a picture is emerging across countries and sectors of a group of companies that share a certain performance agenda, particularly around achieving speed-to-market. They are faster in making and executing decisions to take advantage of their changing markets."


But a way to go before earnings back at pre-recession levels


While they are out of crisis mode, corporates are now turning their attention to when there will be a full recovery in earnings. Approximately one-third saw revenue growth returning within six months, one-third said by the start of 2011 and the final third not for at least two years. Only 1% were pessimistic enough to say it would never return to pre-recession levels. Murphy adds: "Revenue growth - not just earnings growth - is now the burning platform for corporate, many of whom see recovery, certainly in the short to medium term, as sluggish."


And what will happen in 2010?


How were companies planning to improve their performance this year? Three-quarters of respondents said they believed that there were still major costs savings to be made in their organization through improved efficiency. A high proportion of companies (72%) felt they needed to increase the flexibility of their operations through reducing fixed costs, particularly among support functions and improving productivity.


The next most popular response was optimizing the markets they serve (64%) via new market entry, new products or new channels, and through revitalizing the business model (64%) with new thinking around organizational structure, core competencies and new business collaborations. Respondents also believed that accelerating their decision making processes and execution (63%) and strengthening their management talent (62%) would be critical to improve their chances of success.


80% look to growth despite problems with accessing capital


Exactly half of all businesses agreed that restricted access to capital will continue to constrain their growth prospects over the next year, yet a significant minority of respondents (30%) said they intended to take an aggressive growth-oriented stance as the demand outlook in their markets is improving. A further 49% of corporates said that they intended to pursue growth opportunistically, as the prospects for recovery in their markets remain unclear. The remaining fifth of companies said that their strategic focus will remain squarely on cost control until the market improves.


Murphy concludes, "It is clear that many companies are seeking to learn the lessons of the changed market. Although there is no silver bullet - no single action that will deliver success - our research has identified a number of action programs which sets high-performing companies apart. For instance, they have a deeper, broader understanding of their markets and the risks involved. Furthermore, they are more innovative in strategy and structure than their competitors and are more collaborative with partners. These successful companies are essentially equipping themselves for the new economy and navigating a new future for themselves."


Notes to Editor


As part of Ernst & Young's ongoing Lessons from Change program, the Economist Intelligence Unit carried out a study of 876 C-suite and board level executives in November and December 2009. Half of the companies surveyed had revenues of more than $1bn and 22% had annual turnover in excess of $10bn.


About Ernst & Young


Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 144,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential. For more information, please visit www.ey.com.


Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. The Ernst & Young organization is divided into five geographic areas and firms may be members of the following entities: Ernst & Young Americas LLC, Ernst & Young EMEIA Limited, Ernst & Young Far East Area Limited and Ernst & Young Oceania Limited. These entities do not provide services to clients.


This news release has been issued by EYGM Limited, a member of the global Ernst & Young organization that also does not provide any services to clients.


Source: Ernst & Young

CONTACT: Aurelie Leonard, Assistant Director of EMEIA and Global media
relations, +44-20-7980-0158, Aleonard1@uk.ey.com, or Tanya Valle, Assistant
Director, Americas Public Relations, +1-201-872-1688, Tanya.Valle@ey.com


Web Site: Ernst & Young


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