Senate Rejects FG’s $30bn Borrowing Plan, Presidency, DMO Defend Loans

The Senate yesterday threw out President Muhammadu Buhari’s request to raise $29.9 billion in foreign loans over a three-year period.

The request was thrown out without being subjected to debate through a voice vote, after the motion for its consideration was moved by the Senate Leader, Senator Ali Ndume.

But the belief is that the Senate might have thrown out the request because the executive arm of government has refused to make any commitment on when funds will be disbursed for the constituency projects that are critical to all members of the National Assembly.

Hillary Clinton: Wall Street's favorite enemy

Reuters: November 2, 2016


Hillary Clinton began her presidential campaign by promising to do what it takes to rein in Wall Street.
Boosted by Wall Street's toughest critics, U.S. senators Bernie Sanders and Elizabeth Warren, the Democratic candidate has declared "the deck is still stacked in favor of those at the top" and said she would raise bank fees and tighten banking regulations. She has encouraged regulators to break up too-risky banks.
And yet, Wall Street appears unperturbed by the prospect of a Clinton presidency. In fact, the banking industry has supported Clinton with buckets of cash and stocks have sold off on days when the Clinton campaign stumbles. Privately, bankers say that they trust her to remain a pragmatist who will keep the current regulatory regime laid down by the Dodd-Frank Wall Street reform legislation passed in 2010.

South Africa's Jacob Zuma backs down on corruption report

Source: BBC Novermber 2, 2016

South Africa's President Jacob Zuma has dropped his court bid to block the release of a report into his allegedly improper relationship with businessmen.

Mr Zuma's lawyer informed the High Court in the capital, Pretoria, of the decision, but the reasons are unclear.
Opposition groups are rallying in South Africa's major cities to demand Mr Zuma's resignation.
He has been dogged by corruption allegations for more than a decade, but has repeatedly denied any wrongdoing.
The report by former anti-corruption chief Thuli Madonsela is believed to contain damning allegations against him, reports the BBC's Milton Nkosi from Pretoria.

Jailed Russian Dissident Pleads for His Life in Letter Home to Wife

Source: THE MOSCOW TIMES November 2, 2016

A harrowing account by a Russian political prisoner of mass beatings and torture at the hands of prison guards is sending shockwaves through the country's human rights community.
In a letter published on Tuesday reportedly written by Ildar Dadin to his wife, he described his incarceration at IK-7 prison in the northwestern town of Segyezha as “hell.”
In December 2015, Dadin became the first person to be convicted under a new Russian law criminalizing “repeated violations of protest laws." He was sentenced to 2.5 years in prison.