Friday 20 November 2015

Top Tweets Today: 20/11/2015

Much debate has been set in motion after the tragic Paris attacks that happened a week ago with many policymakers calling for a clamp down on laws allowing the free movement between countries in the EU which some see as being the root cause of the problem to terrorists infiltrating Europe.

One of the trademark decisions when the EU was formed was the free movement of each nation's  capital and citizens within the trade zone which at the time seemed like the right thing to do because the less the restrictions on the movement the factors of production the more easier it was to allow economic activity to flow without hindrance contributing to significant economic opportunities.

But as European politicians began pushing socialist agendas the citizens of the EU were no longer interested finding work but more so sourcing income from a government program which is why the EU is in the mess it's in presently.

This left the door open for citizens in the Middle East who face economic disparities in their own nations to seek out employment in the EU who gladly accepted them as their own people were living on the promises of governments who guaranteed well being provided by the state till the end of their days.

Immigration will become the focal point in election campaigns for years to come in the EU and it's something government's have silently ignored as the problems have grown bigger only until a terrorist act like we saw last week jolts them to sit up and address the issue directly.      
In a promising story for China, the International Monetary Fund will include its currency the Yuan in its basket of currencies that can be use for special drawing rights. This the money that can be used to keep as reserves and paid out to taper the fluctuate nature of inflows and outflows happening in the trade account of nations.

The move signals a shift in the currency market that sees over $5 trillion worth of transactions turned over each day. China's ascension as a top player in the trade of goods and services with it's fellow peers around the world has help reach a position where it has overtaken other countries such as the US, Europe and Japan as the largest trading partners for a handful of countries.

Although there's speculation that the weighting that will be allocated to the Yuan may come in less than expected due to a technicality of placing more emphasis on financial flows rather than exports, the inclusion does set a trend which will definitely be in place for a few decades to come as China's economy continues to grow.
Things aren't going to well with Africa's largest mobile telecommunication giant MTN as a fine imposed on them from the NCC (Nigerian Communication Commission) looks more and more likely of going through with the latest sting in the tail coming from Nigeria's governor supporting the move. The company has asked for leniency which looks like it's pleas are falling on deaf ears.

Nigeria has for too long been known for it's corrupt and briberous nature when doing business so the move comes as a shock to many who hadn't expected it including MTN. However the company was signatory to legislation implemented last year that clearly laid out the guidelines to what telecoms companies could expect if found not abiding by the law.

The question now lies squarely with management with whom knew that 5 million unregistered subscribers continued to use their network which they failed to disconnect. If that figure were to be dropped by a fifth the fine still would look enormous but how could management have walked themselves into this mess?

The law is the law and one wouldn't think a global multinational company would want to find itself on the wrong side of it with the potential to ruin its reputation or did management feel the risk of leaving these subscribers connected equated to more profit in the long term than what a fine may potentially wipe out. Guess they called that one wrong.
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