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World Bank Doing Business Report: PMB and Nigerians React

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World Bank on Nigria

Nigeria has a higher ranking in the recent World Bank’s Doing Business this year.

The nation moved up 24 places from 171st last year to 145th this year.

This was made known on Tuesday by the report released by the World Bank.

Rankings or ratings are very common in society, as they help people make choices on places to visit or even eat in.

Parents often choose schools for their children based on rankings and reviews.

By this report, the World Bank is telling the world, “Come do business in Nigeria”.

Mr. Laolu Akande, who is the spokesman for Vice President Osibanjo quoted the VP as saying Nigeria had broken the bad luck of regularly declining rankings in recent years.

“I welcome Nigeria’s improved performance. We are one of the top ten reforming economies in the world in 2017.

After a decade-long decline in Nigeria’s rankings, last year the government recorded a modest increase.

“This year, Mr. President set us an ambitious target of moving up twenty places in the rankings – I am delighted that we have exceeded his goal”, Osibanjo said.

President Muhammadu Buhari received the report positively and commended the Vice President for his efforts in bringing about the improved ratings.

The World Bank highlight five reform areas were Nigeria improved on during the year.

They include; starting a business, dealing with construction permits, registering property, getting credit, and paying taxes.

While the ratings seem good going by the numbers, some individuals, however, do not feel the impact these reforms have made and expressed themselves on popular social network, Twitter.

Some Nigerians were however glad about the report and commended the Presidency.

What do you feel about this recent report from the World Bank, and what’s the way forward for our dear country Nigeria?

 

Business

Microsoft Co-founder Paul Allen Dies At 65

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Paul Allen

Co-founder of Microsoft and owner of Vulcan Inc., Paul Allen passes away.

Paul Allen is said to have died as a result of non-Hodgkin’s lymphoma on Monday in Seattle. The 65-year-old businessman and philanthropist helped Microsoft usher in the personal computing revolution and then channeled his enormous fortune into transforming Seattle into a cultural destination.

Paul took to Twitter sharing the details of the return of the disease, which he had previously battled in 2009.

“Some personal news: Recently, I learned the non-Hodgkin’s lymphoma I battled in 2009 has returned. I’ve begun treatment & my doctors are optimistic that I will see a good result. Appreciate the support I’ve received & count on it as I fight this challenge.”

However, Paul has lost the battle over the disease, his Jody Allen releases a statement as she announces his passing on. She writes:

“My brother was a remarkable individual on every level. While most knew Paul Allen as a technologist and philanthropist, for us he was a much-loved brother and uncle, and an exceptional friend.

“Paul’s family and friends were blessed to experience his wit, warmth, his generosity, and deep concern. For all the demands on his schedule, there was always time for family and friends. At this time of loss and grief for us – and so many others – we are profoundly grateful for the care and concern he demonstrated every day.”

The Vulcan Inc., also announces the passing on of the boss in a statement on Monday

“It is with deep sadness that we announce the death of our founder Paul G. Allen, co-founder of Microsoft and noted technologist, philanthropist, community builder, conservationist, musician and supporter of the arts. Mr. Allen died on Monday afternoon, October 15, 2018, from complications of non-Hodgkin’s lymphoma in Seattle. Mr. Allen was 65 years old.”

Microsoft also takes to Twitter as the CEO Satya Nadella releases a statement on his Paul’s passing.

“Paul Allen’s contributions to our company, our industry, and our community are indispensable. As co-founder of Microsoft, in his own quiet and persistent way, he created magical products, experiences and institutions, and in doing so, he changed the world.

“I have learned so much from him – his inquisitiveness, curiosity, and push for high standards is something that will continue to inspire me and all of us at Microsoft. Our hearts are with Paul’s family and loved ones. Rest in Peace.
-Microsoft CEO Satya Nadella”

Paul Allen also possess ownership of the Seattle Seahawks, Stratolaunch Systems, and Portland Trailblazers, and is the founder of the Allen Institute and the Allen Institute for Artificial Intelligence. Paul co-founded Microsoft with Bill Gates at age 22.

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Donatella Versace Says “Versace Will Remain ITALIAN”

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Donatella Versace

The creative director for the fashion company Versace; Donatella Versace says the company will most definitely remain Italian.

Donatella Versace takes to her Instagram page to address haters as well as assure lovers of the brand that though Michael Kors is the new owner, the brand will remain Italian. She promises to keep the glamour associated with the fashion brand.

She writes:

“Ciao a tutti! You all know how I love the interaction that I have with all of you here. First of all, I wanted to let you know that I am NOT going anywhere, so for those who wanted to get rid of me, well…it ain’t happening!

“I also wanted to reassure you that Versace will remain ITALIAN, Made in Italy and that it will keep its GLAMOUR, DARING and INCLUSIVE attitude that have made you all love it. This is just the beginning of an exciting, new adventure that I hope you will live together with me!
xoxo Donatella”

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Michael Kors Buys Luxury Brand, Versace

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Michael Kors and Versace

Michael Kors extends its fashion company by buying the very luxury brand, Versace.

The news made rounds earlier this week, about a purposed-selloff of Versace but was left unconfirmed. However, according to a report by AFP, the fashion brand largely known for its collections of bags, wristwatches, and perfumes; Michael Kors puts its money into buying Versace.

In a statement released on Tuesday by Michael Kors’ CEO John D. Idol, he confirms the purchase at the cost of 1.83 billion euros ($2.1 billion). He says:

“We are excited to have Versace as part of our family of luxury brands, and we are committed to investing in its growth. With the full resources of our group, we believe that Versace will grow to over $2.0 billion in revenues.

“We believe that the strength of the Michael Kors and Jimmy Choo brands, and the acquisition of Versace, position us to deliver multiple years of revenue and earnings growth.”

Donatella Versace – the artistic director and vice-president of Versace says the takeover is “essential to Versace’s long-term success.

“We are all very excited to join a group led by John Idol, whom I have always admired as a visionary as well as a strong and passionate leader.”

You will recall that Michael Kors bought the luxury shoemaking brand ‘Jimmy Choo’ in 2017 for $1.2 billion.

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