Author: The Nation

  • Bayern sign England captain Kane from Tottenham

    Bayern sign England captain Kane from Tottenham

    England captain Harry Kane has joined German champions Bayern Munich on a four-year deal, ending his record-breaking career at Tottenham.

    The striker signs for an initial 100m euros (£86.4m) plus add-ons and could make his debut in Saturday’s German Super Cup game against RB Leipzig.

    Read Also: Confusion as Spurs accept Bayern offer for Kane

    Kane, 30, leaves Premier League Spurs as their all-time top scorer with 280 goals in 435 appearances.

    In a social media post he said he “felt this was the time to leave” Spurs.

  • Australia beat France on penalties to reach last four

    Australia beat France on penalties to reach last four

    Co-hosts Australia reached the Women’s World Cup semi-finals for the first time as they beat France in an incredible penalty shoot-out at Brisbane Stadium.

    Following a goalless 120 minutes, the Matildas triumphed 7-6 in a shoot-out which defied belief with its dramatic twists.

    Cortnee Vine scored the winning spot-kick for Australia, after Vicki Becho had struck the post for France.

    Australia keeper Mackenzie Arnold made a total of four saves in the shoot-out – including twice from Kenza Dali, having moved off the line for the first stop, leading to a retake.

    Read Also: France end Morocco dream to cruise into quarters

    Arnold herself had the opportunity to score the winning penalty as the fifth taker for Australia, after saving from Eve Perisset, but struck the post as nearly 50,000 Australians inside the stadium went through every emotion imaginable.

    But it is the hosts who march on, reaching their first ever Women’s World Cup semi-final.

    Australia will play England or Colombia at Stadium Australia in Sydney on 16 August at 11.00 BST.

  • Pere vows to dismiss Venita’s role in movie project

    Pere vows to dismiss Venita’s role in movie project

     Brother Naija All Stars housemate and filmmaker Pere Egbi has vowed to dismiss actress Venita Akpofure’s role from a movie they shot before commencement of the reality show.

    The duo lashed out on Thursday leading to calling themselves offensive names.

    In a chat with Kiddwaya and Frodd during the pool party on Thursday night, Pere threatened to delete Venita from his movie despite paying her N1million to feature in the film.

    Kiddwaya asked: “What is going on with you and Venita? I need to understand the dynamics now because this one is not house beef anymore. This is like outside issues. What’s going on?”

    Frodd cut in: “Venita actually f*cking hates your guts. But is she not your star in your movie?”

    Pere responded: “I’m scrapping her part off. I mean, I will delete her name from the credit, I will delete her pictures.

    Read Also: BBNaija’s Adekunle, Pere fight over Venita

    “I don’t mean to reshoot the movie o. I will promote the film but I will use other actors in the movie except her. I gave her N1million to be on set for four days.”

    Frodd and Kiddwaya pleaded with Pere not to delete Venita’s part from the movie as it would be “petty” but he insisted he would scrap her off.

  • I was on BBNaija AllStars to promote my business, says Princess

    I was on BBNaija AllStars to promote my business, says Princess

    Evicted Big Brother Naija All Stars housemate, Princess Onyejekwe has revealed that she primarily went for the reality show to push her business to a larger audience.

    She said although she felt she had a shot at the N120 million grand prize, she was still aware that it would be tough.

    Princess, the first housemate evicted this season during the live show on Sunday, disclosed this in a recent chat with media personality, Hero Daniels.

    She said: “I know that Big Brother reality show does not define me. I knew that I went there to promote my businesses. I knew the money N120m grand prize would be tough. I probably felt I had a shot but it was a situation of if you get to break even.

    Read Also: BBNaija’s Princess urges fans to petition organisers

    “So, just like the first time Double Wahala season in 2018, I knew that if people just look deeper they would see. But No, they did get shallower just like with everything since the 2000s; it get worse and worse.

    “And it’s fine because there are few people that looked deeper. There are a few people that saw a quintessential being that is not even deserving of the show.”

  • N120m BBNaija grand prize not enough for my upkeep – Kiddwaya

    N120m BBNaija grand prize not enough for my upkeep – Kiddwaya

    Big Brother Naija All Stars housemate Kiddwaya has bragged the N120 million grand prize of the reality show is not enough for his upkeep.

    Kiddwaya, born Terseer Waya, is the son to billionaire businessman and socialite, Terry Waya.

    The billionaire heir stated this in a chat with Cross on Friday morning.

    He explained that he is in the reality show for fame.

    Read Also: BBNaija’s Doyin reveals unusual attraction to Kiddwaya

    Kiddwaya said: “The money N120m grand prize is not even enough to keep me. I am here for the fame.”

    Cross inferred: “Omo, I’m here for the money. That’s why I’m here. I know what I need it for. I need it badly but if anybody wants to make me feel like a fool, I’ll make them feel like a fool too.”

  • BBNaija’s parrot exposes Doyin, calls Kiddwaya ‘fat idiot’

    BBNaija’s parrot exposes Doyin, calls Kiddwaya ‘fat idiot’

    Big Brother Naija All Stars parrot has again exposed Doyin’s low-key conversation about fellow housemate, Kiddwaya.

    The decorated Parrot in the BBNaija All Stars show has started its chat leaking task of exposing gossips from housemates.

    The Nation reported that Doyin during a conversation with her friend, Ilebaye referred to Kiddwaya as a ‘fat idiot’.

    Revealing the new information it had gathered on Thursday, the Parrot also exposed Seyi’s conversation where he referred to Doyin as a dirty and stinking girl.

    Read Also: BBNaija’s Doyin reveals unusual attraction to Kiddwaya

    The Parrot exposed the conversation between Doyin and Ilebaye on their boyfriends’ approval of a relationship in the house.

    However, after the Parrot exposure, Seyi apologised to Doyin while Doyin also confirmed that she made the statements and apologised to Kiddwaya.

    The parrot last Friday revealed Ike’s conversation about pimping fellow housemates, Venita to wealthy men.

  • BBNaija’s Frodd, wife welcome first child

    BBNaija’s Frodd, wife welcome first child

    Big Brother Naija All Stars housemate, Chukwuemeka Okoye aka Frodd has welcomed the first child with his wife, Chioma.

    The arrival of the baby girl caused a wide jubilation on social media from fans and well wishers on Friday night.

    Frodd is competing for the grand prize of N120m in the ongoing Big Brother Naija All-Stars reality show.

    He stated during his introduction that he was on the show for his wife.

    Read Also: Frodd under attack for erotic dance with Mercy Eke

    Frodd and his wife had announced that they were expecting a child shortly before he joined the reality show.

    Frodd and his wife, Pharmacist Chioma, got married in February this year.

  • Niger crisis: ECOWAS Heads say all options still on table, including force

    Niger crisis: ECOWAS Heads say all options still on table, including force

    The ECOWAS Heads of State and Government have agreed to continue the dialogue option while not dismantling the existing sanctions taken at the last summit.

    President of the ECOWAS Commission, Dr Omar Touray, disclosed this at the end of the second extraordinary summit on the political situation in the Niger Republic on Thursday in Abuja.

    He said that the military chiefs of the region have also been given further directive to activate the standby force to serve as a last option in restoring constitutional government of President Mohammed Bazoum.

    ‘’Direct the President of the Commission to monitor the implementation of the sanctions.

    ‘’Direct the Committee of the chief of defense staff to activate the ECOWAS standby force with all its elements immediately.

    ‘’Order the deployment of the ECOWAS standby force to restore constitutional order in the Republic of Niger.

    ‘’Underscore its continued commitment for the restoration of constitutional order through peaceful means,’’ he said.

    Read Also: UPDATED: ECOWAS will prioritise diplomatic negotiations over Niger crisis – Tinubu

    He said that the ECOWAS would need the support of partner countries and institutions including the United Nation on the restoration of peace and stability in the sub-region.

    Earlier in his opening speech, President Bola Tinubu, who is the Chair ECOWAS Heads of States and Government, said that the body was still optimistic of achieving a diplomatic solution to the crisis.

    He said that the ECOWAS Heads were desirous of reaching a consensus on the crisis as a way of setting exemplary precedence in the region against undemocratic change of government.

    ‘’As you may recall, we called on the junta to rescind its decision of toppling a legitimate government. We proceeded to impose sanctions with the hope that this resolute measure would serve as a catalyst for the restoration of the constitutional order in Niger.

    ‘’Regrettably, the seven-day ultimatum we issued during the first Summit has not yielded the desired outcome. Only through this comprehensive assessment can we collectively chart a sustainable path towards lasting peace, stability, and prosperity in Niger.

    ‘’More so, in reaffirming our relentless commitment to democracy, human rights, and the well-being of the people of Niger, it is crucial that we prioritize diplomatic negotiations and dialogue as the bedrock of our approach.

    ‘’We must engage all parties involved, including the coup leaders, in earnest discussions to convince them to relinquish power and reinstate President Bazoum.’’

    Tinubu further said that all hope was not lost in gaining peace in Niger, adding that it’s a duty to done by the regional bloc.

    “All is not lost yet. The outcome of this summit is a testament to the power of collaboration and unity. We have reaffirmed our commitment to the people of Niger and to the progress of entire ECOWAS community.

    Read Also: BREAKING: ECOWAS orders immediate standby force against Niger junta

    *We will continue with that. And you will see from the communique of this extraordinary summit that no option is taken off the table, including the use of force as a last resort.

    “If we don’t do it, no one else will do it for us. We remain steadfast in our commitment to supporting Niger in the journey towards peaceful democratic stability in the country,* he said.

    The News Agency of Nigeria reports that some of the resolutions at the last summit include the closure of all land and air borders between 15-member ECOWAS nations and Niger.

    The Niger military and anybody backing the coup will no longer enjoy any financial transaction within the region either as government or individuals, he said.

    Similarly, travel ban was placed on the junta, its officials and families until the restoration of democratic institutions.(NAN)

  • Why price of cooking gas may surge – NALPGAM

    Why price of cooking gas may surge – NALPGAM

    The hike in the foreign exchange rate and activities in the international market may result to increase in the price of cooking gas, says the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM).

    Mr Olatunbosun Oladapo, the President of the association, issued the warning on Thursday in Lagos during an interview with the News Agency of Nigeria (NAN).

    Oladapo noted that a gas terminal operator sent out an official notification of the changes in price, attributing the increase to a significant hike in forex rate and scarcity of same.

    He cited rising international prices, high tax rates, prices of vessels, forex scarcity, and naira devaluation as some of the reasons for the price review.

    “It is starting next week because international prices have gone up. The prices of vessels have gone up and taxes are high.

    Read Also: Cooking gas price falls by 6.07%

    “Consumers, middlemen, and retailers are feeling the impact because business is now on the low side,” he said.

    Olatunbosun, who described the imminent price increment as unfortunate, said: “The situation is very unfortunate because prices are going higher.

    “The government should come in and alleviate the suffering of the masses by providing palliatives, reducing taxes and levies.

    “You can imagine that for every 1kg of gas priced at N700, tax would take way N3.50. How much is left in such a business?”

    Olatunbosun urged the government to tax profit and not products because consumers were not buying gas anymore.

    He also argued that local taxes are worsening the situation, adding that marketers, who had the opportunity to buy products locally, to fix prices with “consumers’ sympathy” in mind.

    Read Also: NNPCL, UTMOL partner to push down cost of cooking gas

    NAN recalls that the National Bureau of Statistics on retail gas prices said the average retail price for refilling a 5kg cylinder of cooking gas decreased by 6.71 per cent month-on-month from N4,360.69 recorded in May to N4,068.26 in June.

    On a year-on-year basis, it decreased by 3.56 per cent from N4,218.38 in June 2022.

    On state profile analysis, Kwara recorded the highest average price for refilling a 5kg cylinder with N4,750.00, followed by Niger with N4,691.16, and Zamfara with N4,683.33.

    On the other hand, Ondo recorded the lowest price with N3,287.86, followed by Ekiti and Nasarawa with N3,288.46 and N3,364.62, respectively.

    (NAN) 

  • Forex Trading Regulations in the Philippines

    Forex Trading Regulations in the Philippines

    The foreign exchange market, widely known as Forex, attracts investors and traders worldwide due to its high liquidity, 24/7 schedule, and easy accessibility. In the Philippines, however, participating in Forex trading involves navigating a unique regulatory landscape.

    This article aims to outline the vital regulations and guidelines Filipinos need to follow to engage in Forex trading legally and safely. It serves as a beginner’s guide, aiming to clarify the rules set by the relevant Filipino authorities, thereby assisting in responsible and informed participation in this global market.

    Philippines Forex Market in a Nutshell

    The Philippine foreign exchange market is largely regulated by the Bangko Sentral ng Pilipinas (BSP), which has been regulating and overseeing the overall stability of the nation’s financial system since 1993.

    In order to facilitate a healthy, transparent, and efficient Forex trading environment for Filipino investors and traders, BSP issues Memorandum Circulars that guide the operations of Forex enterprises.

    The BSP is also in charge of authorizing entities to carry out foreign exchange transactions within the country and supervising their compliance with the regulations in place. At present, only banks, quasi-banks, trust corporations, and other financial institutions authorized by the BSP are allowed to operate as “Forex Dealers” in the Philippines.

    Legal Requirements for Forex Trading in The Philippines

    The main regulatory document for Forex trading in the Philippines issued by BSP is Circular No. 905, which outlines the regulations and guidelines related to foreign exchange transactions. According to the circular, all entities authorized to engage in Foreign Exchange Transactions shall:

    • Ensure compliance with existing laws and regulations for all customer transactions;
    • Comply with Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) measures;
    • Submit timely reports to the BSP as required;
    • Conduct proper customer due diligence.

    Also, all entities authorized to engage in foreign exchange transactions are required to ensure that all customer accounts are segregated from the entities’ own funds and maintained in a separate bank account.

    Read Also: Team celebrates 17th anniversary in Philippines

    Implementation of adequate risk management techniques

    Moreover, they should also ensure the safety of their customers’ funds by implementing adequate risk management techniques such as monitoring customer positions, setting stop-loss orders, and effective margin calls. Finally, all entities authorized to engage in foreign exchange transactions must also keep detailed records of all customer transactions.

    The BSP has additionally issued several other circulars which provide further guidance to Forex Dealers, such as Circular No. 982 which outlines the guidelines on risk management for Foreign Exchange Transactions, and Circular No. 1043 which provides guidelines on anti-money laundering measures in foreign exchange transactions. By following these regulations, dealers can ensure that their customers are provided with a safe and secure trading environment.

    These guidelines also serve to protect the interests of the Philippine economy as a whole by safeguarding against currency speculation and manipulation. The BSP is committed to making sure that Forex traders in The Philippines have a safe and secure trading experience so they can make informed decisions about their investments.

    Finally, it is important to note that foreign exchange trading involves significant risks and should be approached with caution. Therefore, the BSP encourages all traders to take advantage of its free resources such as tutorials and seminars in order to understand the risks associated with Forex Trading and the best ways to mitigate these risks. Additionally, traders should also familiarize themselves with the rules and regulations set forth by the BSP in order to ensure a safe trading environment.

    Tips for getting started

    • Understand the basics of the currency market and foreign exchange trading
    • Evaluate your risk appetite
    • Research different brokers or trading platforms
    • Familiarize yourself with the rules and regulations set by the BSP
    • Understand any fees associated with Forex transactions
    • Explore tutorials, seminars, and other educational resources to help you learn about Forex Trading
    • Keep up to date with the latest news and developments in the Forex market
    • Use stop losses or other risk management techniques to protect your capital investments
    • Monitor your positions closely, especially during volatile market conditions.

    Conclusion

    The vibrant Philippines Forex market offers traders the chance to invest in global currencies and gain exposure to a diverse range of investment opportunities. However, these opportunities come with risk and it is important for every trader to conduct thorough research before entering the market.

    The Bangko Sentral ng Pilipinas (BSP) provides educational resources and regulates the industry to ensure that all traders benefit from fair and transparent market conditions. By following these tips, you can get started in Forex trading confidently and safely.