• Chinese president meets Chinese, Nigerian businessmen

investors and dent its share price. ("=ASIAN STOCK FOCUS: Nippon Steel's Bitter Poison Pill," published at 0147 GMT))
=ASIA FUND VIEW: The deluge of capital into hedge funds worldwide has increased competition among managers for investment ideas and returns, causing some to turn part of their attention to private equity - once the preserve of long-term investors. ("=ASIA FUND VIEW: Hedge Funds Moving In Pvt Equity Arena," published at 0537 GMT)
TOKYO: Competition is heating up among investment bankers in Tokyo eager to grab lucrative and prestigious lead-manager roles in the Japanese government's planned sale of shares it holds in major banks. Monday is the deadline for bankers to submit proposals to the government. (Story to be published by 1000 GMT)
TOKYO: Mitsubishi Motors Corp. said Wednesday it will buy a 25% stake in South East Motor Co. for Y8.75 billion from China Motor Corp. ("Mitsubishi Motors: To Take 25% Stake In South East Motor," published at 0816 GMT)
SEOUL: South Korea's Woori Investment & Securities Co. said Wednesday its net profit for the 2005 fiscal year grew to KRW259.6 billion from KRW42.1 billion a year earlier as increased trading volume on local stock markets boosted its commission income. ("Korea Woori Sec FY05 Net KRW259.6B Vs KRW42.1B," published at 0807 GMT)
TAIPEI: Taiwan's Yageo Corp. said Wednesday it will acquire 69% of unlisted local rival Chipcera Technology Co. via a share swap. ("Taiwan Yageo To Acquire 69% Chipcera Stake Via Shr Swap," published at 0843 GMT)
MUMBAI: India's MphasiS BFL Ltd. expects its operating margin in the fiscal first quarter to dip by 300 basis points from the previous quarter due to higher wage costs, a senior executive said late Tuesday. ("=INTERVIEW:India MphasiS Op Margin To Dip By 300Bps In 1Q," published at 0328 GMT) [ 12-04-06 0905GMT ]
MUMBAI: India's Aztec Software & Technology Services Ltd. expects a 100 basis point fall in fiscal first quarter operating margins from the previous quarter due to a planned increase in salaries during the period, said its chief financial officer Wednesday. ("=INTERVIEW: India Aztec Sees 100 Bps Fall In 1Q Op Margin," published at 0522 GMT)
SEOUL: Kookmin Bank, the preferred negotiator to buy a majority stake in Korea Exchange Bank may ask KEB's current main shareholder Lone Star Funds for more time to conduct due diligence, said Kookmin Vice President Kim Ki Hong on Wednesday. ("Kookmin Bk Exec: May Need More Time For KEB Due Diligence," published at 0715 GMT)
TOKYO: Kirin Brewery Co. racked up on-year gains in beer shipments in the January-March period, giving it the top position in the domestic beer market for the first time since the first half of 2001, beer statistics data showed Wednesday. ("=UPDATE: Kirin Regains Top Beer Market Spot In Jan-Mar," published at 0430 GMT)
SINGAPORE: Singapore Press Holdings to release second-quarter results. (Story expected after 0900 GMT)
WELLINGTON: National carrier Air New Zealand Ltd. Thursday said it has signed a code sharing agreement with Australia's Qantas Airways to cooperate on the Tasman route. ("Air NZ, Qantas Sign Code Share Deal On Tasman Routes," published at 0432 GMT)
MELBOURNE: Australia's CHAMP Private Equity said Wednesday it was on the hunt for more food businesses after buying into the country's largest specialty foods supplier. ("=INTERVIEW: Australia's CHAMP Pvt Equity Seeks Food Grps," published at 0558 GMT)
HONG KONG: Beijing Airport to release full-year results. (Story expected after 0900 GMT)
SYDNEY: Australian property and construction company Multiplex Group said Wednesday it obtained waivers from its lenders over the breach of financial covenants that the losses from its Wembley stadium redevelopment had generated. ("Australia's Multiplex Obtains Debt Waivers," published at 0057 GMT)
TOKYO: Inpex Holdings Inc. said Wednesday it cut its net profit forecast for the January-March period due partly to a delayed agreement on acquiring business rights in Ecuador. ("Inpex Hldgs Cuts Jan-Mar Group Net Profit View To Y5.5B," published at 0629 GMT)
HONG KONG: Chinese steel producer Maanshan Iron & Steel Co. , which posted a 19% drop in 2005 net profit, said Wednesday it expects its profitability to be substantially enhanced by the end of next year as it boosts capacity. (UPDATE including comments from Angang New Steel to be published after 1000 GMT)
WELLINGTON: New Zealand's biggest fixed line phone company Telecom Corp. Wednesday said it will split its local operations into tightly focussed consumer and business divisions, and announced changes in executive functions. ("NZ Telecom Announces Changes To Exec Functions, Ops," published at 2055 GMT)
MELBOURNE: The managing director of Australian discount retailer The Reject Shop Ltd. says its store rollout is on track. ("=INTERVIEW: Australia's Reject Shop Rollout On Track," published at 0312 GMT)
ENERGY/COMMODITIES
SINGAPORE: Official data showing China's crude oil imports rising 25.3% in the first quarter coincided with the latest projection from the International Energy Agency for a rebound in the country's oil demand. (UPDATE to be published after 0900 GMT)
BEIJING: China's imports of steel products from January to March fell 22.7% on year to 4.61 million tons, the General Administration of Customs said on its Web site Wednesday. ("China Jan-Mar Steel Pdts Imports 4.61M MT; -22.7% On Yr," published at 0457 GMT)
=CHINA ENERGY WATCH: despite higher jet fuel prices, demand for the fuel in China won't fall, given growth in airline activity. (Story to be published after 0900 GMT)
BEIJING: Nigeria and China have agreed in principle to build power plants in Nigeria, with Nigeria providing most of the financing, a Nigerian government official said late Tuesday during his visit to Beijing. ("Chinese Cos To Build Power Plants In Nigeria," published at 0112 GMT)
HONG KONG: State-owned Sinochem Corp., China's fourth-largest integrated oil firm by capacity, says it plans to build a refinery in the eastern province of Zhejiang to meet the country's robust demand for petrochemical products. ("=INTERVIEW:China Sinochem Plans New Refinery,Reserve Hike," published at 0341 GMT)
HANOI: Vietnam, an emerging producer of natural rubber in Asia, is benefiting from rising prices and increased export opportunities, an industry official said Wednesday. ("=INTERVIEW:Vietnam Natural Rubber Output, Exports To Rise," published at 0359 GMT)
JAKARTA: Indonesia must tighten bio-security measures for the country's millions of backyard farmers to contain an outbreak of H5N1 avian influenza in domestic poultry stocks, the United Nation's H5N1 avian influenza preparedness chief has said. ("=INTERVIEW:Biosecurity Key To Indonesia Bird Flu Fight:UN," published at 0506 GMT)
MELBOURNE: Papua New Guinea miner Highlands Pacific Ltd. said Wednesday it has suspended mining at its Kainantu gold mine because of a security threat from groups claiming land ownership of the area. ("Highlands Pacific Suspends Mining At PNG Kainantu Mine," published at 0518 GMT) [ 12-04-06 0905GMT ]
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Document DJI0000020060412e24c000ez

Nigerian state signs cell phone plant deal with Chinese firm
JOA

239 words

10 April 2006

12:55 PM

Agence France Presse

AFPR

English

Copyright Agence France-Presse, 2006 All reproduction and presentation rights reserved.
UYO, Nigeria, April 10, 2006 (AFP) -
An oil-rich state in Nigeria has signed a deal with a Chinese firm and American investors to build a mobile phone plant, the first in this fast-growing country in the telecommunications area, its governor said Monday.
"The China Electronics Corporation (CEC) was brought by our American friends who are interested in developing our science park in the state capital, Uyo," Akwa Ibom State Governor Victor Attah told journalists.
"The Chinese have signed a Memorandum of Understanding (MOU) with us to first build a cell phone warehouse. They have come and done their market research and are convinced of the profitability of the venture," he said.
He said the company will go into the packaging of cell phone materials from China before going into manufacturing.
Under the deal, the government will contribute 33 percent equity, the CEC 33 percent and the American partners another 33 percent while the remaining one percent will be contributed by the Chinese company for community development.
"We have all agreed on the this year deadline for every party to contribute its share," Attah said.
Global System of Mobile (GSM) communication was introduced in Nigeria in 2001 and its four main operators have between them about 20 million subscribers.
Before GSM was introduced, the country had less than half a million functioning telephone lines.
joa/ade/jmy
Document AFPR000020060410e24a004bn

Dow Jones Asia-Pacific Top Stories Sked For April 10
2,667 words

10 April 2006

05:04 AM

Dow Jones International News

DJI

English

(c) 2006 Dow Jones & Company, Inc.
Following are the top Asia-Pacific stories featured on Dow Jones Newswires as of 0900 GMT, along with items expected later in the day. Please direct any questions or comments to [e-mail] or by phone on 65-6415-4020.
MACRO/FOREX/FIXED INCOME
SINGAPORE: Singapore's economy grew at its fastest pace in two years, helped by global demand for electronics and drugs, signaling export-driven Asian economies are on track for strong growth in 2006. ("=UPDATE: Singapore 1Q GDP Sends Strong Signal For Asia," published at 0535 GMT)
TOKYO: Japanese core machinery orders resumed their expansionary trend in February, suggesting corporate spending will continue to give strength to the Japanese economy in the months ahead, government data released Monday showed. ("=DATA VIEW: Japan Feb Machine Orders Back On Growth Track," published at 0857 GMT)
BANGKOK: The Bank of Thailand raised its benchmark 14-day repurchase target rate by 25 basis points to 4.75% Monday in a bid to control inflationary pressure and to bring real interest rates back to positive levels - above the rate of inflation. (UPDATE to be published by around 1045 GMT)
=FX ASIA: The U.S.'s huge trade deficit is expected to weigh on the dollar against the yen and euro in coming weeks, and a U.S.-China summit next week is unlikely to offer any solution, further hurting the greenback. (Story to be published by around 0930 GMT)
SIEM REAP, Cambodia: As East Asia grapples with high oil prices and trade imbalances, the region's finance officials want better tools to provide early warnings of regional currency instability. ("Asean Wants Better Warning Tools To Detect FX Instability," published at 0300 GMT)
SIEM REAP, Cambodia: Devotion to national identity remains the biggest obstacle to the creation of a single market in Asia, according to a senior official of the region's elite economic grouping. ("=INTERVIEW: Fix On Natl Identity Slows Asean Integration," published at 0340 GMT)
WELLINGTON: New Zealand's house price inflation continued to ease in the 12 months to the end of March, official data released Sunday showed. ("NZ's Annual House Price Inflation Eases Again In Mar - QV," published at 1159 GMT)
WELLINGTON: The Reserve Bank of New Zealand Monday said it plans to implement new rules on capital requirements for banks to account for the amount of risks these banks are exposed to. ("RBNZ To Enforce Bank Capital Rules Based On Risk Exposure," published at 2352 GMT)
SYDNEY: Australian Prime Minister John Howard was drawn into an Iraq oil-for-food corruption inquiry Monday, when Deputy Prime Minister Mark Vaile gave evidence that he believed allegations against monopoly wheat exporter AWB Ltd. were a U.S. trade negotiating tactic. ("=UPDATE: Australian PM Drawn Into Iraq Corruption Inquiry," published at 0836 GMT)
SINGAPORE: A veteran opposition politician has urged Singaporeans to deny the ruling People's Action Party a clean sweep of Parliament, saying upcoming elections are a choice between democracy and dictatorship. ("Singapore Vote Choice Of Dictatorship,Democracy -Lawmaker," published at 0136 GMT)
TOKYO: Japan's Mizuho Corporate Bank, a unit of Mizuho Financial Group Inc., set its long-term prime lending rate for April at 2.45%, its highest rate since March 1999, as anticipation toward a possible rate hike by the Bank of Japan intensifies. ("Mizuho Corp Bk Ups April Long Prime To 2.45% Vs Mar 2.1%," published at 0344 GMT)
SINGAPORE: Hong Kong-listed property developer Shanghai Real Estates Ltd. is looking to sell its US$150 million seven-year bond at a yield of 8.625%-8.75%, a person familiar with the deal said Monday. ("Shanghai Real Estates Seeks 8.625%-8.75% Bond Yld -Source," published at 0728 GMT)
SINGAPORE: Kazakhstan's Alliance Bank is seeking to pay a yield of 9.375%-9.625% on its US$150 million perpetual bond now on offer alongside a senior five- to seven-year bond, a person familiar with the deal said Monday. ("Alliance Bank Tier 1 Bond Seeks 9.375%-9.625% Yld -Source," published at 0126 GMT)
EQUITIES
SHANGHAI: Shanghai Automotive Industry Corp., which makes cars in joint ventures with General Motors Corp. and Volkswagen AG, laid out ambitious plans to produce a broad range of vehicles under its own brand to sell at home and abroad, in a move that will put it in direct competition with its partners. (UPDATE to be published shortly)
HONG KONG: Samsung and Sony extend their joint venture in LCD panel production, agreeing to spend $2 billion on a new factory that will be optimized for TV screens 50 inches and larger. The screens from the venture's first factory helped Sony's TV business recover and lifted Samsung's as well. (UPDATE to be published after 0900 GMT)
HONG KONG: Hong Kong urban rail operator MTR Corp.'s shares surged to an all-time intraday high Monday after the company said it is at an "advanced stage" of merger talks with government-owned Kowloon-Canton Railway Corp. ("=UPDATE: HK MTRC Shrs Surge As KCRC Merger Talks Proceed," published at 0547 GMT)
MUMBAI: India's Aditya Birla Group said Monday that it will buy the entire 48.14% stake of the Tata Group in unlisted Idea Cellular Ltd. for about INR44.06 billion. ("India AV Birla To Buy Tata Group's 48.14% Stake In Idea," published at 0727 GMT; UPDATE to be published by around 1100 GMT)
HONG KONG: China's Dalian Port Co., which launched its US$277 million Hong Kong initial public offering Monday, plans to sell shares to strategic investors including Hutchison Whampoa Ltd. , Singapore state-owned PSA International Pte Ltd., and China Shipping Co., a person familiar with the situation said. ("China Dalian Port IPO Draws Strategic Investors - Source," published at 0546 GMT)
HONG KONG: Sinochem Hong Kong Holdings Ltd., the listed unit of China's largest fertilizer company by revenue, said Monday its 2005 net profit rose 53% to HK$779.4 million. (UPDATE to be published after 0900 GMT)
HONG KONG: China Mengniu Dairy Co. said Monday its 2005 net profit rose 43% to CNY456.8 million. ("China Mengniu Dairy 2005 Net Pft Up 43% To CNY456.8 Mln," published at 0512 GMT; UPDATE to be published by around 1130 GMT)
NEW DELHI: India's state-run Bharat Sanchar Nigam Ltd. plans to spend between INR160 billion and INR170 billion in the current fiscal year that began April 1 to expand its telecommunications network in the country, the company's chairman, A.K. Sinha, said Monday. ("India BSNL This FY Capex Likely INR160 Bln-INR170 Bln," published at 0803 GMT)
TAIPEI: BenQ Corp. said Monday it will sell its optical storage operations to Lite-On IT Corp. for around NT$1.2 billion and a 13% stake in Lite-On IT, according to a joint statement. ("Taiwan's BenQ To Sell Optical Storage Ops To Lite-On IT," published at 0712 GMT)
BEIJING: Bank of China said Monday it had uncovered 52 cases of wrongdoing in a bank-wide inspection last year and would tighten internal controls as it prepares for a $6 billion overseas listing in the coming months. (Story to be published shortly)
SHANGHAI: China's securities regulator said Monday it is considering punishing Deloitte Touche Tohmatsu International for the audit work it carried out on Guangdong Kelon Electrical Holdings Ltd. ("China Regulator: May Punish Deloitte For Kelon Audit Work," published at 0816 GMT)
MELBOURNE: Australian car parts maker Pacifica Group Ltd. , which makes brakes for General Motors Corp. , Monday said it is holding confidential talks that could lead to a takeover offer. ("UPDATE: Australia's Pacifica Soars 21% On Bid Speculation," published at 0708 GMT)
SINGAPORE: Singapore Telecommunications Ltd. Monday confirmed layoffs at its Singapore operations, a move that comes just two weeks after 200 jobs were cut at its Australian unit Optus. ("=UPDATE: SingTel Confirms Layoffs At Singapore Operations," published at 0759 GMT)
BANGKOK: Telecommunications giant Shin Corp. PCL said Monday its vice chairman of the board Olarn Chaiprawat has resigned, effective April 4. ("Thai Shin Vice Chmn Olarn Resigns On Conflict Of Interest," published at 0337 GMT)
HONG KONG: Hutchison Whampoa Ltd. said Monday it plans to spin off its Chinese medicine unit for a separate listing on the Alternative Investment Market of the London Stock Exchange. ("HK Hutchison Whampoa To List Chinese Medicine Unit On AIM," published at 0253 GMT)
SEOUL: Korea Deposit Insurance Corp. is selling a 5.6% stake in Shinhan Financial to BNP Paribas. (Story to run shortly)
SEOUL: The Supreme Prosecutors' Office of South Korea Sunday asked for a court warrant to detain two officials involved in the sale of a majority stake in Korea Exchange Bank to U.S. private-equity fund Lone Star Funds in 2003, said a spokesman at the Prosecutors' Office on Monday, confirming local media reports. ("Korea Prosecutors: Seek To Detain 2 Involved In KEB Sale," published at 0315 GMT)
MUMBAI: Indian broadcast company Sun TV Ltd. priced its 6.9-million share initial public offering at INR875 a share, a merchant banker close to the issue said Monday. ("India Sun TV Prices 6.9 Mln IPO At INR875/Shr - Source," published at 0505 GMT)
HONG KONG: Six months after the deal was announced, it's still unclear when the Carlyle Group's US$375 million acquisition of an 85% stake in China's Xuzhou Construction Machinery Group Inc. will close, people familiar with the deal said. The transaction apparently has fallen victim to an increasingly protectionist environment in Beijing. ("Carlyle $375M China Xugong Buy Awaits Ministry OK-Sources," published at 0858 GMT)
HONG KONG: China toll-road operator Yue Da Holdings Ltd. said Monday it will acquire a 52% stake in three miners of zinc and lead ore in southwestern China for CNY300 million to create a new revenue stream. ("HK Yue Da To Acquire 3 Metal Ore Miners For CNY300 Mln," published at 0326 GMT) [ 10-04-06 0904GMT ]
HONG KONG: Chinese toll-road operator Jiangsu Expressway Co. said its 2005 net profit fell 32% because of lower traffic. ("HK Jiangsu Expressway 2005 Net Down 32%; Lower Traffic," published at 0821 GMT)
HONG KONG: Angang New Steel to release full-year results. (Story expected after 0900 GMT)
HONG KONG: China Eastern Airlines to release full-year results. (Story expected after 1000 GMT)
TAIPEI: EVA Airways Corp.'s 2005 net profit was NT$1.33 billion, down from NT$3.24 billion in 2004, the company said in statement Monday. ("Taiwan's EVA Air 2005 Net NT$1.33 Bln Vs NT$3.24 Bln," published at 0743 GMT)
SHANGHAI: Shanghai Pudong Development Bank Co.'s shareholders approved its share-reform plan, the bank said in a statement Monday. ("Shanghai Pudong Devt Bank Shareholders Approve Shr Reform," published at 0048 GMT)
TOKYO: NEC Corp. has boosted the capital of its Chinese mobile telephone marketing subsidiary by $225 million in a move to restructure its cell phone operations there, a company spokeswoman said Monday. ("NEC Injects More Capital In China Mobile Phone Sales Unit," published at 0347 GMT)
SEOUL: South Korea's LG Electronics Inc., the country's largest home appliance maker by revenue, will invest $30 million to build its ninth air conditioner production facility in Saudi Arabia by 2010 in a joint venture with a local partner. ("S Korea LG Elec To Set Up Air Conditioning JV In Saudi," published at 0050 GMT)
MELBOURNE: Tattersall's Ltd., Australia's largest lottery operator, said Monday it will sell its stake in its online lottery assets, EssNet Interactive AB, to Aristocrat Leisure Ltd. ("Australia Tattersall's Sells Stake In Unit To Aristocrat," published at 2255 GMT)
BANGKOK: State-owned oil & gas conglomerate PTT PCL said Monday it plans to spin off its gas pipeline business by the end of this year following accusations that that it hasn't fulfilled the promises it made at its initial public offering prospectus prior to its listing in 2001, the company's President Presert Bunsumpun said. ("Thai PTT To Spin Off Gas Pipeline Business By Yr-End," published at 0808 GMT)
TOKYO: Nippon Mining Holdings Inc. Monday forecast a profit decline this fiscal year as part of its three-year business plan due to an accounting change. ("Nippon Mining Expects This FY Group Net Profit Y75B," published at 0550 GMT)
WELLINGTON: Waste Management NZ Ltd., a New Zealand based garbage collector, Monday announced a joint-venture deal with Transpacific Industries Group to handle the Victorian waste businesses. ("NZ Waste Mgmt, Transpacific In JV On Victoria Waste Ops," published at 2250 GMT)
MUMBAI: Macmillan India Ltd., a publishing major, plans to acquire at least one local firm in the current fiscal year ending Dec. 31 to boost its regional language schoolbooks business, said a senior company official. ("=INTERVIEW: India Macmillan Plans To Buy Publishing Firm," published at 0515 GMT)
ENERGY/COMMODITIES
TOKYO: Inpex Holdings Inc. said Monday that it is planning to spend $5 billion-$6 billion in a natural gas project off the northwest coast of Australia. ("Japan's Inpex:To Invest $5B-$6B On Australia LNG Project," published at 0023 GMT)
SINGAPORE: A look at what's ahead as Nigerian Oil Minister Edmund Daukoru makes his first visit to China this week as OPEC president, two days before China's president visits Nigeria. (Story to be published by 1000 GMT)
SYDNEY: Silver and gold rallied to new multi-decade highs in Asian hours Monday as investors sought refuge from U.S. dollar weakness and Middle East tensions. ("=2nd UPDATE: Silver, Gold Hit Fresh Highs As USD Dips," published at 0828 GMT)
SINGAPORE: Copper futures on both the Shanghai Futures Exchange and London Metal Exchange touched new highs in Asia Monday. ("=UPDATE: LME, China Copper Hit Fresh Peaks," published at 0646 GMT)
BEIJING: Power company China Huadian Group will invest CNY15 billion to build wind power plants northwestern China, in what will be the largest wind power contract in the country, the official Xinhua News Agency reported. ("China Huadian Inks $1.88B Wind Power Contract - Xinhua," published at 0350 GMT)
BEIJING: A unit of China National Petroleum Corp. has set up a joint venture to build compressed natural gas filling stations in eastern China, to encourage the usage of the clean fuel, an official from the CNPC unit said Monday. ("China's CNPC Unit Sets Up JV To Build CNG Stations In E," published at 0539 GMT)
KUALA LUMPUR: Expectations in the palm oil industry for biodiesel sales to Europe may be premature, as trade barriers look likely to limit market access, a European biofuels industry official said. ("=INTERVIEW:Palm Oil Biodiesel May Face Barriers In Europe," published at 0621 GMT)
HANOI: State-owned PetroVietnam has started building the Mekong delta region's largest gas-fired power project valued at $864 million, a company official said Monday. ("PetroVietnam Builds Mekong Delta's Largest Pwr Proj;$864M," published at 0632 GMT)
BEIJING: Iron ore price negotiations between China's steel makers and western suppliers have nearly concluded with both sides agreeing to a 10% increase in prices this year, an official with Mysteel.com, a popular local information provider to China's steel industry, said Monday. ("China Iron Ore Talks End With Prices Up 10%-Mysteel Exec," published at 0640 GMT)
NEW DELHI: A senior official at India's state-run Oil & Natural Gas Corp. confirmed on Monday that ONGC may jointly bid with China National Petroleum Corp. for Omimex Resources' onshore exploration and production block in Colombia. ("ONGC Exec: May Jointly Bid For Omimex Blk With China CNPC," published at 0822 GMT)
MELBOURNE: Australian oil and gas production is returning to normal after yet another cyclone, Woodside Petroleum Ltd. and Santos Ltd. said Monday, leaving only BHP Billiton's Griffin oil rig not reconnected after a storm in the country's northwest. ("=UPDATE: Australian Oil Production Back On After Cyclone," published at 0641 GMT) [ 10-04-06 0904GMT ]
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Document DJI0000020060410e24a000rs
This Day (Nigeria) - AAGM: 50,000 Nigerian Engineers Unemployable - FG.
Onwuka Nzeshi

612 words

7 April 2006

This Day (Nigeria)

AIWTHD

English

The Financial Times Limited. Asia Africa Intelligence Wire. All material subject to copyright. This Day (Nigeria) (c) 2006 All rights reserved
The Federal Government, yesterday, in Abuja said no fewer that 50,000 of the nation's engineers were either unemployable or needed additional training to make themselves relevant in today's emerging technologies.
Speaking at the opening of the multi-million dollar Technical Assistance Centre (TAC) and the expanded training center of a local telecoms industry, Huawei Technologies Nigeria Limited, President Olusegun Obasanjo, blamed the situation on the collapse of the nation's tertiary institutions. Huawei Technologies Nigeria Limited is a foreign direct investment of the Chinese in Nigeria.
Represented by the Minister of Science and Technology, Professor Turner Isoun, said: "There were as many as 50,000 graduate engineers in the country today. But I regret to say that some of them, maybe most of them are unemployable and cannot be employed unless through re-training and transfer of technology."
He, therefore, renewed his appeal to the People's Republic of China to bridge the technological gap between both countries through the participation of more Chinese firms in the Nigerian economy and the training of Nigerian engineers on Chinese technologies in order to domesticate such technologies.
She identified information technology, telecommunication, space and satellite programmes as key areas where both countries needed to collaborate for mutual benefits.
The ceremony attracted dignitaries including the Chinese envoy in Nigeria, Ambassador Wang Yong Qiu; Minister of Communications, Chief Cornelius Adebayo; Huwawei's President for Sub-Saharan Africa, Mr. Tao Jingwen; Managing Director of Nigeria Telecommuni-cations Limited, Mr Albert Mashi; his counterpart in the M-Tel, Mr. Edwin Momife amongst others.
The president's representative, further underlined the essence of human capacity development in the quest for technology transfer, stressing that part of the reasons why Nigeria was yet to catch up with countries like China was the low quality of engineering graduates produced by Nigerian universities, a situation he linked with the use of outdated academic curricular following the collapse of the universities in the last fifteen years of military rule.
He urged foreign investors in Nigeria to emulate China and take a queue from what Huwawei had done in terms of investment and domestication of technologies, adding that the practice in the past where Nigeria hired expatriates to build its infrastructures and retained the services of foreign firms to maintain the facilities for years on end was not good enough.
"The reforms in the telecom sector are no doubt yielding results as typified by the GSM revolution. Clearly this has exposed the skill s shortage in the sector. It therefore gives me pleasure to be here today to witness the formal commissioning of Huwawei's Training Centre set up to address human capacity building in telecom. This feat of excellence that has generally become synonymous with Huwawei and Chinese community in Nigeria at large, presents new opportunities in the Nigerian communications market. Your investment expresses your confidence in the Federal Government reform agenda which encourages liberalisation, market driven economy and direct foreign investment," Obasanjo said.
The Training Centre, located in the highbrow Maitama District of the Federal Capital Territory is furnished with state of the art telecom equipment and products designed to support all types of computer-based training, operations and equipment maintenance. It offers human capacity building services on the most modern technologies relevant to the
growing telecommunications industry in Nigeria. While the TAC will be particularly useful to the numerous mobile network operators in the country, the expanded training centre will train 2000 telecom engineers per annum and would draw clientele from Nigeria and across other countries in West Africa.
Distributed by AllAfrica Global Media. (allafrica.com)
FTDL48230163
Document AIWTHD0020060408e24700007

Huawei Technologies Opens Technical Aid Centre in Abuja
355 words

7 April 2006

08:12 AM

All Africa

AFNWS

English

(c) 2006 AllAfrica, All Rights Reserved
Abuja, Apr 07, 2006 (Nigeria First/All Africa Global Media via COMTEX) --
President Olusegun Obasanjo on 6 April in Abuja, opened a N13 billion technical assistance and training centre which is expected to address the problem of human capacity building in the nation's telecom sector.
Represented by the Minister of Science and Technology, Prof. Turner Isoun, President Obasanjo felicitated with Huawei Technologies Nigeria Limited on their great achievement and commended them for their proactive strategy, expressing the desire that the company will continue to invest more technological, human and financial resources in Nigeria as part of their commitment to the sustainable development of the country.
He noted that more than 55 Nigerian engineers are currently in China training for Nigerian Communication Satellite and called for more of such investments in training more Nigerian engineers.
He praised the Huawei Technologies Nigeria Limited for responding to the Federal Government's call for foreign direct investment by setting up the centre and called on foreign investors to take a cue from this investment and embark on greater contribution to the socio-economic development of Nigeria.
The President noted that the centre was expanded to accommodate the training of over 2000 telecommunication engineers a year, in tandem with the company's efforts to continue to provide high quality, low cost equipment and services for Nigeria's rapidly growing telecom industry adding that the investment by the Chinese giant represented China's confidence in the Federal Government's reform agenda, "which encourages liberalisation, market-driven economy and direct foreign investment."
The President recalled that the Information Communication Technology sector received a boost with the approval by the Federal Executive Council (FEC) of the National Information Communication Technology Infrastructure Backbone (NICTIB).
The President of the Sub-Saharan region of Huawei Technologies Company Limited, Mr. Jao Jingwen, said that the company's main objective is to work in tandem with the government agencies, telecom operators, regulators and Nigeria as a whole to fashion out in concrete terms, the ways and means in which it can achieve relatively meaningful impact in the industry together.
Document AFNWS00020060407e247000p4

50,000 Nigerian Engineers Unemployable - FG
by Onwuka Nzeshi

613 words

7 April 2006

08:07 AM

All Africa

AFNWS

English

(c) 2006 AllAfrica, All Rights Reserved
Abuja, Apr 07, 2006 (This Day/All Africa Global Media via COMTEX) --
The Federal Government, yesterday, in Abuja said no fewer that 50,000 of the nation's engineers were either unemployable or needed additional training to make themselves relevant in today's emerging technologies.
Speaking at the opening of the multi-million dollar Technical Assistance Centre (TAC) and the expanded training center of a local telecoms industry, Huawei Technologies Nigeria Limited, President Olusegun Obasanjo, blamed the situation on the collapse of the nation's tertiary institutions. Huawei Technologies Nigeria Limited is a foreign direct investment of the Chinese in Nigeria.
Represented by the Minister of Science and Technology, Professor Turner Isoun, said: "There were as many as 50,000 graduate engineers in the country today. But I regret to say that some of them, maybe most of them are unemployable and cannot be employed unless through re-training and transfer of technology."
He, therefore, renewed his appeal to the People's Republic of China to bridge the technological gap between both countries through the participation of more Chinese firms in the Nigerian economy and the training of Nigerian engineers on Chinese technologies in order to domesticate such technologies.
She identified information technology, telecommunication, space and satellite programmes as key areas where both countries needed to collaborate for mutual benefits.
The ceremony attracted dignitaries including the Chinese envoy in Nigeria, Ambassador Wang Yong Qiu; Minister of Communications, Chief Cornelius Adebayo; Huwawei's President for Sub-Saharan Africa, Mr. Tao Jingwen; Managing Director of Nigeria Telecommuni-cations Limited, Mr Albert Mashi; his counterpart in the M-Tel, Mr. Edwin Momife amongst others.
The president's representative, further underlined the essence of human capacity development in the quest for technology transfer, stressing that part of the reasons why Nigeria was yet to catch up with countries like China was the low quality of engineering graduates produced by Nigerian universities, a situation he linked with the use of outdated academic curricular following the collapse of the universities in the last fifteen years of military rule.
He urged foreign investors in Nigeria to emulate China and take a queue from what Huwawei had done in terms of investment and domestication of technologies, adding that the practice in the past where Nigeria hired expatriates to build its infrastructures and retained the services of foreign firms to maintain the facilities for years on end was not good enough.
"The reforms in the telecom sector are no doubt yielding results as typified by the GSM revolution. Clearly this has exposed the skill s shortage in the sector. It therefore gives me pleasure to be here today to witness the formal commissioning of Huwawei's Training Centre set up to address human capacity building in telecom. This feat of excellence that has generally become synonymous with Huwawei and Chinese community in Nigeria at large, presents new opportunities in the Nigerian communications market. Your investment expresses your confidence in the Federal Government reform agenda which encourages liberalisation, market driven economy and direct foreign investment," Obasanjo said.
The Training Centre, located in the highbrow Maitama District of the Federal Capital Territory is furnished with state of the art telecom equipment and products designed to support all types of computer-based training, operations and equipment maintenance. It offers human capacity building services on the most modern technologies relevant to the
growing telecommunications industry in Nigeria. While the TAC will be particularly useful to the numerous mobile network operators in the country, the expanded training centre will train 2000 telecom engineers per annum and would draw clientele from Nigeria and across other countries in West Africa.
Document AFNWS00020060407e247000mg

GOV. RICHARDSON WELCOMES U.K. RENEWABLE ENERGY INDUSTRY LEADERS TO NEW MEXICO
1,153 words

6 April 2006

US Fed News

INDFED

English

© Copyright 2006. Hindustan Times. All rights reserved.
SANTA FE, N.M., April 6 -- Gov. Bill Richardson, D-N.M., issued the following remarks:
New Mexico Gov. Bill Richardson today welcomed the United Kingdom Renewable Energy Technologies Mission to New Mexico. This group is made up of British government officials and representatives from several leading British renewable energy companies. The Governor spoke to this group at the Albuquerque Convention Center. Gov. Richardson's remarks follow:
"Good morning and welcome to New Mexico. I am glad you have dropped in for a visit and I would like to convince you and your businesses to stick around. This is a business friendly state and we are not shy about encouraging good, clean businesses like yours from locating here.
I am proud to report that today, 50,000 more New Mexicans are working since I took office in 2003. New Mexico is surpassing the national average in job growth. Personal incomes have risen. Corporate revenue has risen. Small businesses are growing and we have balanced our budgets, creating a surplus with one of the largest cash reserves in the country.
Not bad - but that's not what we're here to talk about today. We are here to talk about the future of energy. A future that you are helping to create and a future that I am positioning New Mexico to capitalize on. A clean energy future.
We are in a crisis - the era of cheap oil is over. Light crude has been hovering just above $65 per barrel in the past couple of weeks. With growing demand in India and China, and supply disruptions from the Middle East to Nigeria, global markets are tight and getting tighter.
Gasoline and diesel are more expensive again - here in New Mexico, the average price for unleaded is around $2.63 a gallon. This is too expensive. Working people need to get to work. Truckers need to get products to market. And farmers and ranchers need to fuel up their equipment. Our economy needs stable energy prices.
And it's nonsense to think we can drill our way out of this situation. The U.S. controls 3% of the world's resources, but uses 25%. The Bush Administration and the oil companies want to drill everything everywhere, but having more never cured an addiction. What we really need is leadership: alternative energy development, efficiency, and a new clean energy industry in the United States.
Oil companies need to become energy companies. Just last week, the new chairman of ExxonMobil said it again: his company will produce and bring oil to the United States from around the world. He said ExxonMobil is not an energy company - it's an oil and gas company. Until these huge companies think about our national interest, the global atmosphere, and energy alternatives, our addiction will not be solved.
We spend about $250 billion a year for foreign oil. If we figured out how to spend even a fraction of that amount on domestic clean energy development, we would create competitive energy markets, reduce our addiction, and create as many as 3 million new jobs. And we would cut our ballooning trade deficit by about one-third.
The best way to do this is to establish tax credits for oil companies to invest in domestic clean energy development. These companies are making $30 or $40 billion a year; ExxonMobil had $36 billion in profits last year, the most by any U.S. company in history, and it just beat out Wal-Mart for the top spot on the 2006 Fortune 500 list. They can afford to help create the Nation's new energy future.
This new clean energy economy will mean jobs, stable prices and it will help address climate change. You and I know that climate change is happening, possibly faster than we thought. The White House is in denial, but the fact is that we need incentives and market-based control mechanisms, such as cap-and-trade, to reduce energy use and protect the global climate.
Here in New Mexico, we are doing our part. I call this the Clean Energy State, because I think we are leading the Nation on clean and renewable energy policy. No other state has done as many things to address our energy problems in the past three years. From solar tax credits to renewable portfolio standards, we have adopted about two dozen new policies to encourage clean energy generation and manufacturing.
We are building a sustainable community including solar cell manufacturers like Advent Solar at Mesa del Sol just south of the Albuquerque airport. Part of the solution is to offer people affordable alternatives. That's what we are doing.
We are encouraging green building and energy efficiency. The state has committed to set 50% higher energy efficiency standards for state buildings. And for the first time our utilities are allowed to use energy efficiency as a resource.
We have joined the Chicago Climate Exchange to show our commitment to reducing greenhouse gas emissions. In the UK, this may seem quaint. But we are an oil and gas state - second leading producer of onshore natural gas, and fourth in oil production. So the decision to stand up and become the first state to join the Chicago Climate Exchange was not lightly taken. Until the federal government addresses global warming, this is the kind of state-level action that can make a difference.
We are also leading the region. With Governor Arnold Schwarzenegger in California (Have you heard of him?), I am pushing the 18 states in the Western Governors' Association to adopt new clean energy policies.
And I am promoting huge clean energy developments in New Mexico - including wind, solar, and coal gasification with carbon capture and sequestration. We are an energy exporter to the fast growing states of California, Arizona and Nevada. There is huge opportunity in New Mexico for energy companies like yours that want to help create a clean energy future and reap the profits of the coming clean energy economy.
This is only the start. The global energy crunch is sure to grow. New Mexico, the West, and the United States are going to become real leaders in clean and renewable energy, energy efficiency, and new technologies.
While Washington is in denial, New Mexico is leading the way by creating a robust clean energy economy. For instance, the solar energy industry is poised for explosive growth. This is a $4 billion global industry currently, and estimates predict it will grow to $27 billion by 2010.
That is why I will continue urging Congress, the White House, and other state officials to commit to a program that will truly break our dangerous and debilitating "addiction to oil."
Thank you all for being here today in the Clean Energy State."
HTS kmpb 060407-390563 PBORA
Document INDFED0020060407e24600166

Giving Africa Infrastructure for Growth
5,089 words

5 April 2006

NPR: Talk of the Nation

TOTN

English

Copyright ©2004 National Public Radio®. All rights reserved. No quotes from the materials contained herein may be used in any media without attribution to National Public Radio. This transcript may not be reproduced in whole or in part without prior written permission. For further information, please contact NPR's Permissions Coordinator at [phone].
NEAL CONAN, host:
This is TALK OF THE NATION. I’m Neal Conan in Washington.
When we think about how to help Africa, the problems seem insurmountable. Malaria, AIDS, hunger, poverty, civil war, each issue seems intractable. One issue that underlies them all is often missed, infrastructure: water, power, roads, electricity, telecommunications, basic practical matters that are critical to economic development. In too much of Africa, infrastructure is either crumbling or nonexistent.
Today we’re gonna focus on two key areas: roads and telecommunications. Highways and passable roads are vital to trade, both to get goods to ports, to get them overseas, and within the continent itself. Bad roads contribute to a shocking incident of traffic deaths.