Featured
China opposes U.S. politicizing trade issues after NYSE delists Chinese telcos
The U.S. should stop abusing national security and state power to suppress Chinese companies, Chinese Foreign Ministry spokesperson Hua Chunying said at a press briefing on Monday, blasting the U.S.’s delisting of three Chinese telcos as politicizing trade issues.
The remark came after the New York Stock Exchange (NYSE) announced last Thursday that it would begin delisting China Telecom Corp. Limited, China Mobile Limited, and China Unicom Hong Kong Limited, abiding by an executive order from U.S. President Donald Trump that imposes restrictions on companies identified as “affiliated with the Chinese military.”
“China hopes that the U.S. will respect the market, the rule of law, and do more things that are conducive to the stable development of the global economy,” Hua said, adding that China will take necessary measures to protect the interests of Chinese enterprises.
Over the weekend, China’s Ministry of Commerce (MOFCOM) and the China Securities Regulatory Commission (CSRC) have respectively voiced strong opposition to the move, vowing to firmly support China’s three big telcos to protect their rights and interests.
According to the three companies’ statements, none of them have received notification from the NYSE on its decision to delist their American Depositary Shares (ADSs).
Business
FG To Seize Mortgaged Property of Defualting Retiring Public Servants
Joel Ajayi
Federal Government Staff Housing Loans Board will henceforth seize mortgaged properties of retiring federal public servants who failed to fully repay the housing loans advanced to them by the board.
In a statement issued by the Staff Housing Loans Board Head, Information & PRU Obiechina Ngozi on Wednesday in Abuja reveals that this is in accordance with the Public Service Rules 021002 (p) as issued by the Office of the Head of the Civil Service of the Federation.
The OHCSF sent out the memo as a reminder for the federal public servants who are about to retire to adhere strictly to the provisions of the Public Service Rules.
The memo reads; “I am directed to bring to your attention the provision of Public Service Rule (PSR) 021002 (p), which mandates all public servants to obtain a Certificate of Non-indebtedness to the Federal Government Staff Housing Loans Board (FGSHLB) and any MDA Staff Multipurpose Cooperative Society, as issued by the OHCSF, as a prerequisite for retirement.”
“Further to the above, it should be noted that in the event of exiting the service prior to full repayment of the housing loan advanced by the FGSHLB, the Board shall exercise its legal right to seize the mortgaged property.”
Speaking on the above, Salamatu Ladi Ahmed, Executive Secretary, FGSHLB, reiterated that the warning is also for retired officers who defaulted.
She stated that the management of the Board, on its part, is compiling the list of all retired federal public servants who are still owing the housing loans they obtained while in service, to be sent to relevant regulatory agencies to recover the debts from them.
FGSHLB is committed to ensuring that all public servants comply with this rule and obtain the necessary Certificate of Non-indebtedness before retirement, and urge all those affected to take immediate action and settle any outstanding debts or liabilities with the Board.
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