World

UK Economy Slips into ‘Technical’ Recession

Published

9 months ago

February 16, 2024

Eric

The United Kingdom slipped into a technical recession in the second half of last year after its economy registered two consecutive quarters of negative economic growth, official figures have shown.

The Office for National Statistics (ONS) announced through a statement on Thursday that Britain’s gross domestic product (GDP) shrank by 0.3 percent in the last three months of 2023, after contracting 0.1 percent in the third quarter.

It meant that the economy entered a technical recession, as defined by two or more quarters in a row of falling GDP.

It marked the first time the UK had entered recession since the first half of 2020 when the initial COVID-19 lockdown sent the country’s economy plunging into reverse.

The figures dealt a blow to Prime Minister Rishi Sunak, who had promised to grow the economy as one of his five priorities.

Chancellor Jeremy Hunt said inflation and high-interest rates were behind the output fall but insisted the economy was turning a corner.

He said: “While interest rates are high so the Bank of England can bring inflation down low growth is not a surprise.

“But there are signs the British economy is turning a corner; forecasters agree that growth will strengthen over the next few years.

“Wages are rising faster than prices; mortgage rates are down and unemployment remains low.

“Although times are still tough for many families, we must stick to the plan of cutting taxes on work and business to build a stronger economy.”

Shadow chancellor Rachel Reeves said the Prime Minister’s promise to grow the economy was in tatters.

“The Prime Minister can no longer claim credibly that his plan is working or that he has turned the corner on more than 14 years of economic decline under the Conservatives that has left Britain worse off.

“This is Rishi Sunak’s recession and the news will be deeply worrying for families and businesses across Britain,’’ he said.

World

Simon Ekpa Lands in Finnish Prison Over Terrorist Propaganda Charges

Published

3 days ago

November 21, 2024

Eric

Self acclaimed leader of the Indigenous People of Biafra (IPOB), Simon Ekpa, has been arrested by law enforcement in Finland.

The BBC reports that Ekpa was subsequently sent to prison by the district court of Päijät-Häme for “spreading terrorist propaganda on social media”.

Ekpa was said to have committed the crime in 2021 in Lahti municipality.

The Finnish National Bureau of Investigation (NBI) also arrested four other men over alleged terrorist offences.

A citizen of Finland and Nigeria, Ekpa has described himself as leader of the separatist IPOB group since Nnamdi Kanu’s incarceration.

Finnish police say Ekpa’s activities and social media rhetoric may have fanned the flames of violence in the south-east of Nigeria.

“He carries out these activities from his social media channels, for example,” said Otto Hiltunen, detective chief inspector of the NBI.

In February 2023, Ekpa was arrested by police at his residence in Lahti but was released after hours of questioning.

Using his social media channels, Ekpa had directed Igbos not to participate in Nigeria’s 2023 general election.

In September 2021, the Biafra agitator and secessionist denounced Nigeria and vowed to return the medal he won for the country at the 2003 African Junior Athletics Championships.

Africa

Balthasar Sex Scandal: Equatorial Guinea Govt Files Formal Charges

Published

2 weeks ago

November 13, 2024

Eric

The Government of Equatorial Guinea has filed a lawsuit against Baltasar Ebang Engonga, former Director General of the National Financial Investigation Agency (ANIF), over allegations of misconduct involving a sex scandal.

In an official statement, the government gave reasons why Engonga is being prosecuted, describing his actions as “violations of the ethical and moral values of noble Equatorial Guinean society.”

The lawsuit was announced by Jerónimo Osa Osa, Minister of Information, Press, and Culture, who confirmed that the Attorney General’s Office would conduct a comprehensive investigation into the allegations.

According to local news platform Ahora EG, “This decision comes after several videos went viral in which Ebang Engonga is seen having sexual relations with multiple women, some of whom are married.”

The leaked videos, which have sparked outrage, prompted the government to take a stand on what it deems a violation of public morality and family values.

During an address on Friday, the government, through the Public Prosecutor’s Office, tasked with overseeing the case, intends to pursue administrative, civil, and criminal charges against Engonga and any accomplices, reiterated its condemnation of Engonga’s conduct.

The government emphasised the far-reaching impact of the scandal on social and family cohesion, stating, “In light of these serious events, which severely undermine family and social cohesion, and considering the negative impact that this situation has on the good image of our country, tarnishing its reputation, the government, through the Public Prosecutor’s Office, has commenced a thorough investigation to establish responsibilities at the administrative, civil, and criminal levels, given the possibility of a public health impact.”

Meanwhile, the investigation aims to address multiple issues, including the line between personal and public conduct, potential privacy violations, and damages to individuals’ honor and reputation.

The government affirmed its commitment to safeguarding the rights of those affected by the scandal, including the State itself.

Baltasar Engonga has been facing severe backlash after investigators discovered over 400 explicit videos involving him and the wives of prominent national figures.

The scandal surfaced amid a fraud probe into Engonga’s stewardship, leading ANIF officials to search his home and office.

During this search, investigators reportedly uncovered CDs containing the explicit recordings, which have since leaked online, sparking a national outcry and widespread media coverage.