Connect with us

Foreign

Italian-American automaker FCA posts net losses of 1 bln euros in Q2

Published

on

Italian-American automaker FCA posts net losses of 1 bln euros in Q2

Italian-American automaker Fiat Chrysler Automobiles (FCA) posted net losses of 1 billion euros (1.18 billion United States dollars) in the second quarter (Q2) this year, the company said in its financial results Friday.


FCA said it shipped 424,000 vehicles worldwide in Q2, down by 63 percent compared to the same period last year, due to COVID-19 pandemic-related production stoppages and demand disruptions.

The automaker added it has secured a three-year, 6.3-billion-euro credit facility with Intesa Sanpaolo, one of Italy’s major banking groups.

“The proceeds of this facility will be dedicated exclusively to FCA’s activities in Italy and to support the more than 10,000 small and medium enterprises that make up the Italian automotive sector,” it said.

FCA CEO Mike Manley was optimistic about the company’s outlook. The company was able to “contain the impact of the COVID-19 crisis,” he said in a statement.

“Our plants are up and running, dealers are selling in showrooms and online, and we have the flexibility and financial strength to push ahead with our plans,” Manley said.

FCA designs, engineers, manufactures and sells vehicles in a portfolio of brands. It employs nearly 200,000 people around the world.

Earlier this year, the company announced that it is in joint venture talks with Hon Hai Precision Ind. Co., Ltd. (Foxconn) to develop and manufacture electric vehicles in China.

As well, FCA is in the process of completing a 50/50 merger with French automaker Peugeot S.A.

“The COVID-19 crisis has further underlined the compelling logic of… the merger,” FCA said in the statement, adding that “we expect to meet the objective of combining as a single company by the end of the first quarter of 2021.”

(XINHUA)

Nnn: :is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

Health

Ebonyi govt pledges to promote breastfeeding, provides crèches, jingles

Published

on


The Ebonyi Government has pledged to do everything possible to encourage breastfeeding among young mothers in the state to improve child and maternal survival.


The Commissioner for Health in Ebonyi, Dr Daniel Umezurike disclosed this on Tuesday during a press briefing to mark 2020 World Breastfeeding Week in Abakaliki.

Umezurike revealed that the state government considered the feeding critical by creating public awareness campaigns and jingles with support from partners to advocate breastfeeding in the state.

The commissioner also disclosed that civil servants who were nursing mothers in the state had been observing four months paid maternity leave to encourage breastfeeding.

He said that wife of the Governor, Mrs Rachael Umahi had established creches in the women development centre and strategic locations to enhance appropriate feeding.

“This is for mother to get close to their children, even at work so that they can breastfeed intermittently.

He added that they were also allowed after the leave resumption to close at mid-day to enable them return home to their babies to feed them appropriately.

“Breastfeeding is most important way of improving child and maternal survival. We take this very seriously.

“We do all these to encourage, protect and support breastfeeding in the state,” Umezurike said.

According to him, malnutrition is a challenge that reduces production of breast milk, when nursing mother are not properly fed.

Umezurike added that such families to include the downtrodden and widows were supported by Mrs Umahi to ensure family health were protected in the state.

He further stated that COVID-19 pandemic had affected activities, food production, consumption practices degrading land and ecosystems among others, thus every steps taken across life cycle to mitigate environmental degradation and climate crisis.

He stated that the pandemic had demonstrated that the global world interdepend and dependent on same planet, thus needs a healthy planet with support of breastfeeding.

Meanwhile, the Commissioner disclosed current situation report of COVID-19 in the state, saying that total confirmed cases is 871, deaths 25, discharged 804 and active cases is 36.

“We have three isolation centers and some on home isolation,” Umezurike said.

The Baby Friendly Initiative Coordinator in the ministry of Health, Mrs Beatrice Ojinkama described breastfeeding as foundation of live.

Ojinkama gave advantages of initiating breastfeeding to include serving as first immunization for a child to survive, help remove reserved placenta, help in family planning among others processes.

She called on the media to assist partners and the ministry in achieving the scheme.

UVU /

Edited By: Dorcas Jonah/Maureen Atuonwu (NAN)

Continue Reading

General news

FG to resume Digital Switch Over roll out – Lai Mohammed

Published

on


The Federal Government says it will “very soon’ resume the roll out of Digital Switch Over (DSO) – a transition from analogue to digital television broadcasting – across the country.


The Minister of Information and Culture, Alhaji Lai Mohammed stated this on Tuesday in Lagos at a ceremony to unveil the new amendment to the 6th Edition of the Broadcasting Code.

Fielding questions from stakeholders at the ceremony, the minister said the DSO suffered some set back which led to a hold after it was launched in six states.

He reiterated the commitment of the government to spread the massive benefits of digital television to the people, stressing that it was the fastest way to create jobs.

The News Agency of Nigeria recalls the roll out of DSO commenced in Jos, Plateau in April 2016 and moved to Abuja, Ilorin, Kaduna, Enugu and lastly in Oshogbo in February, 2018.

The minister assured the stakeholders that they would hear from the government on the resumption of the DSO roll out in the coming weeks.

Mohammed also told the stakeholders that government had been implementing policies and programmes to reposition the creative industry.

He said one of the major recommendations of the Post COVID-19 Initiative Committee on the Creative Industry chaired by ace comedian, Ali Baba was a restructure of the industry.

The minister reassured that the government would soon set up a committee on the implementation of the recommendations to move the industry forward.

The Minister also reiterated government’s commitment to assist the Newspaper Proprietors Association of Nigeria in securing the N10 billion Nigeria Media Intervention Fund from the Central Bank of Nigeria.

Edited By: Ismail Abdulaziz (NAN)

Continue Reading

Defence/Security

Digital economy: Nigeria must shift focus from certificate to skills – Pantami

Published

on


The Minister of Communication and Digital Economy, Dr Isa Pantami, has advocated for shifting of focus from certificate to skills education for the actualisation of Nigeria’s digital economic drive.


Pantami made the call at the Graduation Lecture of the National Defence Collage Course 28, titled; “Digital Economy and National Development in Nigeria”, on Tuesday in Abuja.

He said that digital literacy and skills was one of the pillars outlined for the development of the digital economy of Nigeria in line with the National Digital Economy Policy and Strategy (NDEPS).

The minister added that emphasis on certificate must be reduced in engaging labour force, urging that focus should be shifted to skills if the nation must catch up with development.

He said that many developed and developing countries such as China, United States and Morocco had shifted attention to skills rather than certificate, adding that many of them had established skills centres.

According to him, certificate is important but secondary to skill and that is why we must pay attention to skills in our journey to digital economy.

“The digital literacy and skills pillar recognises the fact that citizens are the greatest assets in any economy, including the digital economy. It will support the development of a large pool of digitally literate and digitally skilled citizens.

“We recently provided a platform, the DigitalNigeria.gov.ng platform, to enable Nigerians receive training in diverse digital skills. Over 36,000 Nigerians have enrolled on the platform since the 2nd of April, 2020.

“We are championing a paradigm change that lays emphasis on skills, in preference to merely having degrees without skills.

“The National Defence College is an institution that supports the development of skills and there are many digital techniques that can support the great work that you are doing here,’’ he said.

Pantami stated that the digital economy was a prime catalyst for development, adding that in less than one year, government’s modest efforts had already yielded remarkable results.

According to him, the recent first quarter Gross Domestic Product (GDP) Report released by the National Bureau of Statistics (NBS) showed that ICT contributed an unprecedented 14.07 per cent to Nigeria’s total real GDP.

The minister further disclosed that the national security architecture must key into the digital revolution in tackling the prevailing security challenge using digital technology.

He explained that emerging technologies came with different solutions to security challenges of every nation such as data analytics, artificial intelligence, robotic technology, drone and many more.

“These are some of the emerging technologies that will go a long way in promoting security of nations. The security officials are in better position to look into and see how to customize them and make use of them.”

Also, the Minister of Defence, Maj.-Gen. Bashir Magashi, said the Federal Government had taken steps to adopt, adapt and internalise the digital economy in a functional manner.

Magashi, who was represented by the Permanent Secretary, Alhaji Sabiu Zakari, said it was important that security and defence establishments show more than a cursory interest in the digital economy.

He added that the adaptation of digital economy could result in increased cybercrimes thus undermining national security.

“I wish to commend the Commandant, staff and the entire College community for their collective efforts in pursuing the ideals of the College.

“In particular, I commend you for organising the graduation lecture, which was exciting, educative and would be helpful to the economic and security needs of the Nigerian nation,’’ he said.

Earlier, the Commandant of the collage, Rear Adm. Markson Kadiri, said the lecture had become a key component of the training programme of the College and a major highlight of its annual graduation ceremonies.

Kadiri said that a total of 107 participants had successfully completed the course comprising 67 officers of the Armed Forces of Nigeria, seven Senior Police Officers and 15 participants from key Ministries, Departments and Agencies (MDAs).

Others according to him, include 18 senior military officers from the Armed Forces of friendly nations.

“A large part of the Course was conducted online, after the general lockdown associated with the COVID-19 pandemic.

“The Course was conducted under the theme “Economic Diversification and National Development in Nigeria”. Economic diversification is a broad based strategy designed to cause positive and multi-sectoral economic growth and development,’’ he said.

Edited By: Ismail Abdulaziz (NAN)

Continue Reading

General news

Kwara Gov congratulates BUA boss at 60

Published

on

By


Gov. AbdulRahman AbdulRazaq of Kwara has congratulated the Chairman of BUA Group, Abdul Samad Rabiu, on his 60th birthday anniversary.


The News Agency of Nigeria reports that the congratulatory message was sent on behalf of the governor by his Chief Press Secretary (CPS), Rafiu Ajakaye, in Ilorin on Tuesday.

AbdulRazaq described the BUA boss as a distinguished Nigerian businessman with a track record of investments in human capital and community development. 

“On behalf of his family, the people and government of Kwara State, His Excellency, the Governor sends his warm greetings to the business leader and philanthropist Alhaji Abdul Samad Rabiu on the occasion of his birthday.

“While assuring him of conducive business environment, the governor commends Alhaji Rabiu for his huge investments in Kwara State,” Ajakaye said.

The CPS added that the governor also acknowledged the head of the BUA conglomerate as the highest singular donor to the state’s campaign against COVID-19 pandemic.

He said Rabiu donated N100 million and three ambulances to fight COVID-19 in the state.

“The governor prays the Almighty Allah to continue to bless Alhaji Rabiu and his family and all his business concerns.

“He prays Almighty God to grant him more fruitful years and good health,” Ajakaye added.

Edited By: Tajudeen Atitebi (NAN)

Continue Reading

Contact US: editor @nnn.com.ng, nnnnews247 @gmail.com

COVID-19 Update in Nigeria – NCDC Coronavirus Records VIDEO: Hydroxychloroquine is a CURE for COVID-19, Dr Stella Immanuel insists Police arrest 10 suspects, recover arms, ammunition in Enugu Ebonyi govt pledges to promote breastfeeding, provides crèches, jingles Gombe govt. moves to address dearth of agric extension workers Police nab 3 over alleged culpable homicide, 2 for kidnapping in Niger Sexual violence: Mrs Akeredolu pledges to partner stakeholders FG to resume Digital Switch Over roll out – Lai Mohammed Multiple taxes: Petroleum dealers in Anambra threaten shutdown, gives 21 day ultimatum Nasarawa lawmaker condemns killing of former ECDA Secretary 3 men in court over alleged stealing of phones worth N43,000 Edo pensioners happy, no longer wear black, says Shaibu Toddler, 2 others die in Ogun lone accident Schools resumption: We are ready for students — NAPPS 3rd Mainland Bridge closure: NIWA advises Lagos residents to patronise water transport Digital economy: Nigeria must shift focus from certificate to skills – Pantami Kwara Gov congratulates BUA boss at 60 137 Rangers worldwide die in 2020, says International Rangers’ President Edo 2020: APC youths vow to send Obaseki parking LCCI to engage VP Osinbajo in virtual presidential policy dialogue Breastfeeding Week: Lagos First Lady seeks exclusive breastfeeding for child’s growth NUC says 32 universities involved in research to tackle impacts of COVID-19 Oyo launches state-wide initiative against COVID-19 Gov. Ugwuanyi distributes CACOVID palliative in Enugu Gunmen kill journalist in Nasarawa 22 ships discharging petrol, other items at Lagos port — NPA China’s A-share market sees IPO boom in July Lagos COVID-19 recoveries exceed 13,000- NCDC Ford Motor’s CEO steps down amid waning investors’ confidence IOM opens legal facility in Edo for victims of trafficking KTSG to complete ongoing projects by 2022 – Gov Masari FG unveils amended Broadcasting Code says unperturbed by blackmail Sule charges Nasarawa youths to embrace govt. programmes FHC Chief Judge, family members test negative for COVOD-19 after 2 weeks Estate agent, 62, faces property conversion charge Benue Assembly confirms appointment of new Commissioner for Health Kwara deputy gov, wife test positive for COVID-19 Nasarawa NUJ condemns attack, killing of ex-treasurer Court dissolves 5-year-old marriage over battery, adulterous attitude Obaseki’s “MEGA” manifesto will address post-COVID-19 economic shocks in Edo – Aide Ikeja Lions Club donates to orphanage 774,000 Jobs: Committee dispatches 18,900 forms for distribution in Imo  Gombe State Govt. approves 230 hectares of land for Air Force operational base Alleged Money Laundering: EFCC rearraigns ex-AGF Adoke Buhari salutes Abdul-Samad Rabiu at 60 Resumption: Okota-Isolo maintain COVID-19 rules, as schools resume for SS3 students Man, 22, docked over alleged motorcycle theft Court remands 2 men for alleged unlawful possession of gun, threat to life Ogun schools comply with COVID-19 protocols as students resume Only teachers resume in public secondary schools in Nsukka Sales representative docked for alleged impersonation FIRS clarifies NIPOST’s stamp duty claims