Daily Post Nigeria CBN’s interest rate hike will worsen imbalances in real sectors — CPPE Home News Politics Metro Entertainment Sport Business CBN’s interest rate hike will worsen imbalances in real sectors — CPPE Published on November 26, 2024 By Ogaga Ariemu The Centre for the Promotion of Private Enterprise, CPPE, said the continued hawkish stance of the Central Bank of Nigeria, CBN, by further tightening the interest rate to 27.75 per cent will worsen imbalances in the country’s real sectors. The director of CPPE, Muda Yusuf, disclosed this in a statement on Tuesday. This comes as DAILY POST reports that the CBN Monetary Policy Committee raised interest by 25 basis points to 27.50 per cent. Reacting, CPPE stated that the CBN’s decision to further raise the interest rate is troubling amid the declining growth recorded in the country’s critical sectors of the economy. CPPE noted that Nigeria’s 3.46 per cent growth in domestic product in the third quarter of 2024 showed a clear disconnect between the financial services sector and the real economy. This comes as CPPE said that manufacturing, agriculture, real estate, air transport, and textile sectors need monetary and fiscal support, not interest rate hikes. “It is troubling that despite the declining growth performance of many critical sectors of the economy as evidenced in the third quarter GDP report, the MPC still continued its tightening stance. “The GDP sectoral performance report also revealed a glaring disconnect between the financial services sector and the real economy. “The financial services sector recorded a growth of 32 per cent, while agriculture and manufacturing grew by 1.14 per cent and 0.92 per cent. This hawkish disposition would deepen these distortions. “Meanwhile strategic economic sectors such as agriculture, manufacturing and real estate recorded declines in growth in the third quarter. Air transport and textile remained in recession. These sectors need monetary and fiscal support, not a further tightening of monetary conditions. “In the meantime, we urge the CBN to upscale its support for development finance institutions to make up for the financing challenges created by the sustained tight monetary policy regime,” he stated. Related Topics: CBN CPPE Don't Miss NFIU extends AML/FT to $200bn yearly illicit wildlife trade You may like CBN raises Nigeria’s interest rate Recapitalization: CBN approves deadline extension for BDCs – ABCON CBN holds MPC meeting to decide Nigeria’s interest rate NCC to resolve telecoms, banks’ USSD debt issue with CBN Nigeria’s AuGF uncovers N197.72bn contract fraud in CBN, REA, NBET, other MDAs Hardship: Hope not a strategy – Moghalu tells Tinubu’s govt Advertise About Us Contact Us Privacy-Policy Terms Copyright © Daily Post Media LtdChina to focus on stabilising housing market in 2025, housing regulator says
NoneClippers’ Kawhi Leonard practices for first time this season
NoneAs two-way superstar Shohei Ohtani works his way back from elbow surgery, the Dodgers are aware that he may not be 100% for the 2025 season. Instead, manager Dave Roberts said Monday, the team will be "nimble" with Ohtani's pitching workload. To that end, Roberts said it's "unlikely" that Ohtani will pitch during the Dodgers' opening series in Japan next year, to be held in Tokyo on March 18 and 19. That isn't too shocking. There's no reason to push him to start in a two-game series that doesn't line up with the rest of the season, especially since they'll want Ohtani-the-pitcher firing on all cylinders for the playoffs. That's much more important than the middle of March. Remember, not only did Ohtani have that elbow surgery in the fall of 2023, but he had to have surgery on his left (non-pitching) shoulder after injuring it during the World Series. Roberts did mention to reporters that the expectation was Ohtani will be ready from the get-go as a hitter. Ohtani, 30, won his third MVP in four seasons last season -- his first with the Dodgers after signing a $700 million deal last offseason. He hit .310/.390/.646 (190 OPS+) with 38 doubles, seven triples, 54 homers, 130 RBI, 134 runs, 59 stolen bases and 9.2 WAR. Obviously, his value on the offensive side is monstrous. He just became the first player ever to have a 50-50 season and win the MVP as a primary designated hitter. Just remember, the last time he pitched in a season was 2023 and he went 10-5 with a 3.14 ERA, 1.06 WHIP and 167 strikeouts in 132 innings. He finished fourth in AL Cy Young voting in 2022. The Dodgers will have an internal innings target in the regular season with Ohtani, perhaps somewhere in the 150 range. That's part of why there's no reason to put him on the mound in Tokyo, not to mention the fact that they also have Yoshinobu Yamamoto , Tyler Glasnow and Blake Snell alongside Ohtani in that rotation. Given the returns of Tony Gonsolin and Dustin May from major injury, the Dodgers will have at least six starting pitchers for the rotation and odds are they'll use at least eight at various points. The main goal will be as much health as possible for October. They won the World Series last year with only three starting pitchers, but they'd surely love to avoid using a bullpen game as a fourth starter if possible.None
US President-elect Donald Trump's proposals to impose sweeping tariffs on imports could counter earlier efforts to cool inflation, Treasury Secretary Janet Yellen said Tuesday, warning that consumer prices could rise. Her comments at the Wall Street Journal's CEO Council Summit come as Trump has vowed broad tariffs of at least 10 percent on all imports, and higher rates on goods from China, Canada and Mexico. Imposing broad-based tariffs could "raise prices significantly for American consumers and create cost pressures on firms" which rely on imported goods, Yellen said when asked about Trump's plans. She cautioned that this could weigh on the competitiveness of certain sectors and increase costs to households. "This is a strategy I worry could derail the progress that we've made on inflation, and have adverse consequences on growth," she said. But she defended efforts by President Joe Biden's administration to impose targeted tariffs on Chinese goods to counter unfair trade practices by Beijing. She has previously raised concern over China's industrial overcapacity -- which risks a flood of underpriced goods into global markets and could undermine the development of key US industries. On Tuesday, Yellen also expressed regret that the United States has not made more progress on the country's deficit, saying she believes it "needs to be brought down, especially now that we're in an environment of higher interest rates." She stressed the importance of an independent Federal Reserve too, saying that countries perform better economically when central banks are allowed to exercise their best judgment without political influence. Trump has said that he would like "at least" a say over setting the Fed's interest rate. "I think it's a mistake to become involved in commenting on the Fed and certainly taking steps to compromise its independence," said Yellen. "I believe it tends to undermine the confidence of financial markets and, ultimately, of Americans in an important institution," she added. Yellen noted that she has spoken with Trump's Treasury chief nominee, billionaire hedge fund manager Scott Bessent, congratulating him on his nomination. bys/bjtStock market today: Wall Street slips to a rare back-to-back lossSeveral Wounded North Korean Soldiers Died After Being Captured By Ukraine: Zelensky
Online food delivery giant Zomato will become a part of the benchmark BSE Sensex, replacing JSW Steel from December 23. This is part of the latest reconstitution announced by Asia Index Private Ltd, a subsidiary of BSE. The changes will take effect on December 23, 2024, the Asia Index announced on Friday. Zomato's inclusion in the 30-stock index marks a significant milestone for the company, which has seen an impressive rally over the past year. Also, the reconstitution extends beyond the Sensex, impacting other indices such as the BSE 100, BSE Sensex 50, and BSE Sensex Next 50. As a part of the reshuffle in the BSE Sensex 50, key additions to the index include Zomato, Jio Financial Services and Hindustan Aeronautics Ltd. On the other hand, HDFC Life Insurance Company, Bharat Petroleum Corporation Ltd and LTI Mindtree are set to exit the index. (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.) Featured Video Of The Day Neha Sharma Celebrates Birthday With Paps zomato news Zomato BSE Zomato BSE Sensex Zomato Delists Suspicious "Single-Dish Restaurants" Which Could Be Selling Prohibited Items Zomato’s New Food Rescue Feature Lets Users Grab Cancelled Orders at a Discount Zomato CEO Responds To Discovery Of Food With "Future Date Of Packing" At Hyderabad Warehouse "Thousand Times Better...": Delhi Lt Governor's Surprise For AAP's Atishi "World War 3 Has Begun": Ukraine Ex-Military Commander Amid Russia Conflict Elon Musk Slams 'Ridiculously Slow And Difficult' US Immigration System Indian Army Celebrates 77th Anniversary Of Poonch's Historic Link-Up 2 Delhi Police Woman Constable Reunites 104 Missing Children With Families Putin Vows More Hypersonic Missile Tests As Ukraine Seeks Air Defence Track Latest News Live on NDTV.com and get news updates from India and around the world . MORE Trending News "Thousand Times Better...": Delhi Lt Governor's Surprise For AAP's Atishi "I Understand That Emotion": Abhishek Bachchan On Being A "Girl Dad" "World War 3 Has Begun": Ukraine Ex-Military Commander Amid Russia Conflict India All-Rounder Reported For Suspected Action, Likely To Be Banned Votes In Maharashtra And Jharkhand To Be Counted Today: 10 Points Elon Musk Slams 'Ridiculously Slow And Difficult' US Immigration System Gavaskar Loses It On Air As Bumrah Snubs R Ashwin, Jadeja For Perth Test 2 Children Strangled To Death In Bengaluru, Parents Blame Each Other: Cops UK To Arrest Netanyahu If He Visits, "Will Comply" With World Court Order Watch: Kohli Asks Bumrah To Take DRS Despite Pant's Doubts. Result Is... "Violation Of Sovereignty, Abuse Of Power": Kanwal Sibal On US Report On Adani Group Was KL Rahul Out? Umpiring Great Simon Taufel Puts End To Controversy Behind Kohli's Perth Tactic, England Great's Justification: "Had To Do..." "When In Doubt...": Australian Cricket Greats' Blunt Take On KL Rahul DRS Row What Is Impoundment? Trumps New Plan To Control Spending In Second Term Satellite Imagery Exposes Russia Smuggling Illicit Oil To North Korea Indian Student In US Accidentally Shoots Himself Dead While Celebrating Birthday Influencer Sheds 11 Kg While Enjoying Desserts, Shares Weight Loss Secrets Video: Tempo Full Of Fish Hits Wall In UP, Villagers Get Looting Cloud Seeding Not Feasible: Pollution Control Board Amid Delhi's Smog CrisisBy LISA MASCARO and FARNOUSH AMIRI WASHINGTON (AP) — President-elect Donald Trump’s pick for intelligence chief Tulsi Gabbard faced fresh scrutiny Monday on Capitol Hill about her proximity to Russian-ally Syria amid the sudden collapse of that country’s hardline Assad rule. Gabbard ignored shouted questions about her 2017 visit to war-torn Syria as she ducked into one of several private meetings with senators who are being asked to confirm Trump’s unusual nominees . Related Articles National Politics | Trump promises to end birthright citizenship: What is it and could he do it? National Politics | Trump has flip-flopped on abortion policy. His appointees may offer clues to what happens next National Politics | In promising to shake up Washington, Trump is in a class of his own National Politics | Election Day has long passed. In some states, legislatures are working to undermine the results National Politics | Trump taps his attorney Alina Habba to serve as counselor to the president But the Democrat-turned-Republican Army National Reserve lieutenant colonel delivered a statement in which she reiterated her support for Trump’s America First approach to national security and a more limited U.S. military footprint overseas. “I want to address the issue that’s in the headlines right now: I stand in full support and wholeheartedly agree with the statements that President Trump has made over these last few days with regards to the developments in Syria,” Gabbard said exiting a Senate meeting. The incoming president’s Cabinet and top administrative choices are dividing his Republican allies and drawing concern , if not full opposition, from Democrats and others. Not just Gabbard, but other Trump nominees including Pentagon pick Pete Hegseth, were back at the Capitol ahead of what is expected to be volatile confirmation hearings next year. The incoming president is working to put his team in place for an ambitious agenda of mass immigrant deportations, firing federal workers and rollbacks of U.S. support for Ukraine and NATO allies. “We’re going to sit down and visit, that’s what this is all about,” said Sen. Mike Rounds, R-S.D., as he welcomed Gabbard into his office. Meanwhile, Defense Secretary pick Hegseth appeared to be picking up support from once-skeptical senators, the former Army National Guard major denying sexual misconduct allegations and pledging not to drink alcohol if he is confirmed. The president-elect’s choice to lead the FBI, Kash Patel , who has written extensively about locking up Trump’s foes and proposed dismantling the Federal Bureau of Investigation, launched his first visits with senators Monday. “I expect our Republican Senate is going to confirm all of President Trump’s nominees,” said Sen. Tom Cotton, R-Ark., on social media. Despite widespread concern about the nominees’ qualifications and demeanors for the jobs that are among the highest positions in the U.S. government, Trump’s team is portraying the criticism against them as nothing more than political smears and innuendo. Showing that concern, nearly 100 former senior U.S. diplomats and intelligence and national security officials have urged Senate leaders to schedule closed-door hearings to allow for a full review of the government’s files on Gabbard. Trump’s allies have described the criticisms of Hegseth in particular as similar to those lodged against Brett Kavanaugh, the former president’s Supreme Court nominee who denied a sexual assault allegation and went on to be confirmed during Trump’s first term in office. Said Sen. Lindsey Graham, R-S.C., about Hegseth: “Anonymous accusations are trying to destroy reputations again. We saw this with Kavanaugh. I won’t stand for it.” One widely watched Republican, Sen. Joni Ernst of Iowa, herself a former Army National Guard lieutenant colonel and sexual assault survivor who had been criticized by Trump allies for her cool reception to Hegseth, appeared more open to him after their follow-up meeting Monday. “I appreciate Pete Hegseth’s responsiveness and respect for the process,” Ernst said in a statement. Ernst said that following “encouraging conversations,” he had committed to selecting a senior official who will “prioritize and strengthen my work to prevent sexual assault within the ranks. As I support Pete through this process, I look forward to a fair hearing based on truth, not anonymous sources.” Ernst also had praise for Patel — “He shares my passion for shaking up federal agencies” — and for Gabbard. Once a rising Democratic star, Gabbard, who represented Hawaii in Congress, arrived a decade ago in Washington, her surfboard in tow, a new generation of potential leaders. She ran unsuccessfully for president in 2020. But Gabbard abruptly left the party and briefly became an independent before joining with Trump’s 2024 campaign as one of his enthusiasts, in large part over his disdain for U.S. involvement overseas and opposition to helping Ukraine battle Russia. Her visit to Syria to meet with then-President Bashar Assad around the time of Trump’s first inauguration during the country’s bloody civil war stunned her former colleagues and the Washington national security establishment. The U.S. had severed diplomatic relations with Syria. Her visit was seen by some as legitimizing a brutal leader who was accused of war crimes. Gabbard has defended the trip, saying it’s important to open dialogue, but critics hear in her commentary echoes of Russia-fueled talking points. Assad fled to Moscow over the weekend after Islamist rebels overtook Syria in a surprise attack, ending his family’s five decades of rule. She said her own views have been shaped by “my multiple deployments and seeing firsthand the cost of war and the threat of Islamist terrorism.” Gabbard said, “It’s one of the many reasons why I appreciate President Trump’s leadership and his election, where he is fully committed, as he has said over and over, to bring about an end to wars.” Last week, the nearly 100 former officials, who served in both Democratic and Republican administrations, said in the letter to Senate leaders they were “alarmed” by the choice of Gabbard to oversee all 18 U.S. intelligence agencies. They said her past actions “call into question her ability to deliver unbiased intelligence briefings to the President, Congress, and to the entire national security apparatus.” The Office of the Director of National Intelligence was created after the Sept. 11, 2001, attacks to coordinate the nation’s intelligence agencies and act as the president’s main intelligence adviser. Associated Press writer Stephen Groves contributed to this report.
None'PPP CEC to meet after February 5'
New York City got a rare whale sighting on Monday. A whale was spotted in the East River near the Brooklyn and Manhattan bridges. People on the Brooklyn shore got a glimpse of the whale flashing its tail out of the water, according to the U.S. Coast Guard, which received multiple reports from spectators. The sighting caused a frenzy on social media, with people speculating it was a humpback whale, but Coast Guard spokesperson Logan Kaczmarek said the agency wasn’t sure whether it was a humpback or a North Atlantic right whale, one of the world’s most endangered whale species, Gothamist reported. Outrage as hunter captures wolf, tapes its mouth and parades it through bar before killing it Security guard in agonising death after being bitten in horrifying 12-hour 'suicide by snake' But regardless the whale sighting in the East River is special because the usual boat traffic makes it hard to spot aquatic wildlife. “We do get a lot of marine mammals in the New York Harbor,” Kaczmarek said. “It’s not rare by any means, but the sightings are less frequent.” As the reports from community members came on Monday, the Coast Guard put out a marine information broadcast to warn boaters to be cautious, so they would not collide with the whale, according to Kaczmarek. iNaturalist user yuunikorn shared a photo to that platform confirming a Humpback in the East River on Monday. DAILY NEWSLETTER: Sign up here to get the latest news and updates from the Mirror US straight to your inbox with our FREE newsletter.
By LISA MASCARO and FARNOUSH AMIRI WASHINGTON (AP) — President-elect Donald Trump’s pick for intelligence chief Tulsi Gabbard faced fresh scrutiny Monday on Capitol Hill about her proximity to Russian-ally Syria amid the sudden collapse of that country’s hardline Assad rule. Gabbard ignored shouted questions about her 2017 visit to war-torn Syria as she ducked into one of several private meetings with senators who are being asked to confirm Trump’s unusual nominees . Related Articles National Politics | Trump promises to end birthright citizenship: What is it and could he do it? National Politics | Trump has flip-flopped on abortion policy. His appointees may offer clues to what happens next National Politics | In promising to shake up Washington, Trump is in a class of his own National Politics | Election Day has long passed. In some states, legislatures are working to undermine the results National Politics | Trump taps his attorney Alina Habba to serve as counselor to the president But the Democrat-turned-Republican Army National Reserve lieutenant colonel delivered a statement in which she reiterated her support for Trump’s America First approach to national security and a more limited U.S. military footprint overseas. “I want to address the issue that’s in the headlines right now: I stand in full support and wholeheartedly agree with the statements that President Trump has made over these last few days with regards to the developments in Syria,” Gabbard said exiting a Senate meeting. The incoming president’s Cabinet and top administrative choices are dividing his Republican allies and drawing concern , if not full opposition, from Democrats and others. Not just Gabbard, but other Trump nominees including Pentagon pick Pete Hegseth, were back at the Capitol ahead of what is expected to be volatile confirmation hearings next year. The incoming president is working to put his team in place for an ambitious agenda of mass immigrant deportations, firing federal workers and rollbacks of U.S. support for Ukraine and NATO allies. “We’re going to sit down and visit, that’s what this is all about,” said Sen. Mike Rounds, R-S.D., as he welcomed Gabbard into his office. Meanwhile, Defense Secretary pick Hegseth appeared to be picking up support from once-skeptical senators, the former Army National Guard major denying sexual misconduct allegations and pledging not to drink alcohol if he is confirmed. The president-elect’s choice to lead the FBI, Kash Patel , who has written extensively about locking up Trump’s foes and proposed dismantling the Federal Bureau of Investigation, launched his first visits with senators Monday. “I expect our Republican Senate is going to confirm all of President Trump’s nominees,” said Sen. Tom Cotton, R-Ark., on social media. Despite widespread concern about the nominees’ qualifications and demeanors for the jobs that are among the highest positions in the U.S. government, Trump’s team is portraying the criticism against them as nothing more than political smears and innuendo. Showing that concern, nearly 100 former senior U.S. diplomats and intelligence and national security officials have urged Senate leaders to schedule closed-door hearings to allow for a full review of the government’s files on Gabbard. Trump’s allies have described the criticisms of Hegseth in particular as similar to those lodged against Brett Kavanaugh, the former president’s Supreme Court nominee who denied a sexual assault allegation and went on to be confirmed during Trump’s first term in office. Said Sen. Lindsey Graham, R-S.C., about Hegseth: “Anonymous accusations are trying to destroy reputations again. We saw this with Kavanaugh. I won’t stand for it.” One widely watched Republican, Sen. Joni Ernst of Iowa, herself a former Army National Guard lieutenant colonel and sexual assault survivor who had been criticized by Trump allies for her cool reception to Hegseth, appeared more open to him after their follow-up meeting Monday. “I appreciate Pete Hegseth’s responsiveness and respect for the process,” Ernst said in a statement. Ernst said that following “encouraging conversations,” he had committed to selecting a senior official who will “prioritize and strengthen my work to prevent sexual assault within the ranks. As I support Pete through this process, I look forward to a fair hearing based on truth, not anonymous sources.” Ernst also had praise for Patel — “He shares my passion for shaking up federal agencies” — and for Gabbard. Once a rising Democratic star, Gabbard, who represented Hawaii in Congress, arrived a decade ago in Washington, her surfboard in tow, a new generation of potential leaders. She ran unsuccessfully for president in 2020. But Gabbard abruptly left the party and briefly became an independent before joining with Trump’s 2024 campaign as one of his enthusiasts, in large part over his disdain for U.S. involvement overseas and opposition to helping Ukraine battle Russia. Her visit to Syria to meet with then-President Bashar Assad around the time of Trump’s first inauguration during the country’s bloody civil war stunned her former colleagues and the Washington national security establishment. The U.S. had severed diplomatic relations with Syria. Her visit was seen by some as legitimizing a brutal leader who was accused of war crimes. Gabbard has defended the trip, saying it’s important to open dialogue, but critics hear in her commentary echoes of Russia-fueled talking points. Assad fled to Moscow over the weekend after Islamist rebels overtook Syria in a surprise attack, ending his family’s five decades of rule. She said her own views have been shaped by “my multiple deployments and seeing firsthand the cost of war and the threat of Islamist terrorism.” Gabbard said, “It’s one of the many reasons why I appreciate President Trump’s leadership and his election, where he is fully committed, as he has said over and over, to bring about an end to wars.” Last week, the nearly 100 former officials, who served in both Democratic and Republican administrations, said in the letter to Senate leaders they were “alarmed” by the choice of Gabbard to oversee all 18 U.S. intelligence agencies. They said her past actions “call into question her ability to deliver unbiased intelligence briefings to the President, Congress, and to the entire national security apparatus.” The Office of the Director of National Intelligence was created after the Sept. 11, 2001, attacks to coordinate the nation’s intelligence agencies and act as the president’s main intelligence adviser. Associated Press writer Stephen Groves contributed to this report.