LAGOS Nike Air Force 1 Special Force High Boots Blanche Pas Cher , Dec. 18 (Xinhua) -- Chinese automaker Guangzhou Automobile Company (GAC) has opened a showroom in Lagos, Nigeria's business hub in a bid to explore the market in Africa's most populous nation.
The showroom was officially opened on Wednesday by Aminu Jala, the Director General of National Automotive Council (NAC) and Li Yong, Deputy Consul General of Chinese Consulate General in Lagos.
At the opening ceremony, Jala said the auto industry in Nigeria desperately needed an overhaul after years of neglect. He told Xinhua that Nigeria had to embrace manufacturing as a means of restoring and strengthening the middle class.
He said a strong middle class is critical to Nigeria's growth and stability.
He urged manufacturers to produce cheaper cars that would enable more Nigerians to afford new vehicles.
The NAC boss disclosed that in order to improve the quality of cars Nike Air Force 1 Low Flax Clair Marron Pas Cher , all vehicles imported into the country must have road worthiness certificate from their countries of origin.
Li Yong said at the opening ceremony that China was exploring other areas of cooperation with Nigeria. According to him, GAC's entry into the auto sector is a sign of the growing China-Nigeria relations.
Earlier, GAC'S chairperson in Nigeria, Diana Chen, said the launch of showroom in Lagos will help cement the existing strong ties between the two nations.
The new automotive policy which came into effect in 2013 seeks to encourage interested foreign car makers to set up assembly plants in Nigeria.
ADDIS ABABA Femme Nike Air Force 1 Low GS Hyper Rose Pas Cher , July 4 (Xinhua) -- Outgoing Liberian President Ellen Johnson Sirleaf on Tuesday called for the African Union (AU) to be restructured to promote effective continental cooperation and integration.
Speaking at the conclusion of the 29th AU summit held from June 27 to July 4 in the Ethiopian Capital Addis Ababa, Sirleaf called for restructuring of the continental organization to be an effective and efficient strategist for the implementation of Agenda 2063.
Agenda 2063 is a strategic framework adopted in May 2013 that called for socio-economic transformation of Africa in 50 years, accelerating past and existing initiatives for growth and development.
The Liberian president praised the AU for its strategic vision to accelerate continental development.
She in particular referred to the 2014 Ebola crisis when the AU dispatched 835 health volunteers to deal with the outbreak that affected Liberia along with neighboring Guinea and Sierra Leone.
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NEW YORK, Dec. 15 (Xinhua) -- Oil prices dropped to a five-year low under fresh selling pressure on Monday as the United Arab Emirates said the Organization of Petroleum Exporting Countries ( OPEC) will not reduce production in response to the slump.
Light Homme Nike Air Force 1 High Jaune Pas Cher , sweet crude for January delivery moved down 1.9 U.S. dollars to settle at 55.91 dollars a barrel on the New York Mercantile Exchange,while Brent crude for January delivery lost 79 cents to close at 61.06 dollars a barrel.
Concerns over a global glut of oil continued to weigh on the market. The crude price has fallen more than 45 percent since June as producers from the United States have ramped up output amid lukewarm energy demand.
U.S. crude production reached 9.12 million barrels per day (bd) for the week ended Dec. 5, according to the Energy Information Administration (EIA). The figure is just 1 million bd short of Saudi Arabia's output.
Meanwhile, Suhail Al-Mazrouei,the energy minister of United Arab Emirates Nike Air Force 1 Low Homme Noir Pas Cher , restated on Sunday that OPEC will refrain from cutting output even if prices fall as low as 40 dollars.
OPEC, which pumps a third of the world's crude, maintained its collective production ceiling of 30 million barrels a day on a meeting in Vienna on Nov. 27. Analysts regarded the decision very bearish to crude prices. As the organization keeps production steady, crude prices could fall further.
Meanwhile, a stronger U.S. dollar and uncertainties about global economic growth have also contributed to the oil prices slump.
The EIA cut its crude price forecasts by 15 dollars last week in response to the OPEC decision and rising U.S. output Homme Nike Air Force 1 Deconstruct PRM Medium Grise Pas Cher , and predicated that U.S and Brent crude will average 62.75 dollars and 68.08 dollars respectively in 2015.
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NEW YORK, Dec. 15 (Xinhua) -- U.S. stocks closed down Monday after a volatile trading session, with oil prices keeping to sink.
The Dow Jones Industrial Average shed 99.99 points, or 0.58 percent, to 17 Homme John Elliott x Nike Air Force 1 Low Blanche Pas Cher ,180.84. The S&P 500 lost 12.70 points, or 0.63 percent, to 1,989.63. The Nasdaq Composite Index fell 48.44 points, or 1.04 percent Homme Nike Air Force 1 Low Independence Day Rouge Pas Cher , to 4,605.16. Full story
Gold falls sharply on Fed rate outlook
CHICAGO, Dec. 15 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell sharply on Monday amid expectations that the U.S. Federal Reserve plans to move closer to raising interest rates.
The most active gold contract for February delivery lost 14.8 U. S. dollars, or 1.21 percent, to settle at 1 Homme Nike Air Force 1 Low CMFT BHM Equality Noir Pas Cher ,207.7 dollars per ounce.
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