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LAGOS, Dec. 6 (Xinhua) -- Nigerian President Muhammadu Buhari will on Dec. 14 address a Joint Session of the National Assembly on steps being taken to steer the nation out of recession, the country's Senate said Tuesday.


President of the Senate Bukola Saraki, who announced this at the floor of the upper chamber in Abuja, said the Nigerian leader will also present the 2017 budget proposal to the National Assembly.


Nigeria's economy officially entered recession in September. Figures recently released by the National Bureau of Statistics further showed a weak macroeconomic performance when the Gross Domestic Product (GDP) in real terms contracted by 2.24 percent year-on-year in Q3.


Recession, which is a major decline in sector-by-sector economic activities lasting more than a few months, is technically indicated by two consecutive quarters of negative economic growth as measured by the country's GDP.


The present recession has left Nigeria with a bevy of recalcitrant problems, which range from surging inflation to depleted foreign reserves and weaker Naira. The oil sector, which is Nigeria's mainstay, is dented by the vagaries of global oil price, the drop in local production of crude oil and the violent activities of militants in the southern region of the country.


YANGON Mens Nike Air Max Australia Online , Jan. 28 (Xinhua) -- Myanmar has conducted the first successful kidney transplant operation on a 10-year-old girl at Yangon's Children Hospital, the official Global New Light of Myanmar reported Sunday.


A substituted kidney for the child patient Ma Nan Yu Wei was donated by her 23-year-old brother Ko Aung Zaw Zaw for the operation.


The six-hour kidney transplant operation was jointly carried out by a team of surgeons from Myanmar and Singapore.


Such kidney transplant operations had been performed three times in Mandalay but was the first in Yangon, Dr. Su Su Dway Womens Nike Air Max Australia Online , Yangon Children Hospital Superintendent, was quoted as saying.






Banks in China expect to see their revenue from inclusive finance grow by US$63.4 billion in 2020 and this increase is set to be the highest globally, according to an EY report today.


Inclusive finance is the provision of affordable Cheap Nike Air Max Australia Online , accessible and relevant financial products to individuals and businesses which had previously not been able to access them.


The report states that banks could focus on three measures to boost their financial inclusiveness: to customize offerings and simplify financial solutions to meet the specific needs of customers at affordable cost, to innovate channels to reach more customers at lower cost and to creatively mitigate risk to address absence of credit histories.


To boost commercial banks’ lending to small and micro-sized enterprises, startups and agricultural enterprises Nike Air Max Australia Online Sale , the People's Bank of China announced last September a targeted reserve requirement ratio cut, which went into effect today.


EY identifies start-up community with access to diverse sources of capital as “an important enabler” to China’s inclusive finance sector.


The digital finance provided by China's leading Internet and mobile payment platforms have tremendously enhanced financial inclusion in emerging markets such as China, said Jack Chan Nike Air Max Shoes Australia Online , EY’s China financial services managing partner.


EY sees “massive potential” for banks to provide greater credit to the agriculture industry as loans to the sector account for just 1 percent of the commercial banking credit portfolio.


Farmers’ access to conventional bank loans has been limited by a lack of credit data and consequently, many are forced to secure credit from “shadow banking” firms, the report noted.


Chinese banks could help close a financing gap of as high as 3 trillion yuan (US$441 billion) to the agricultural sector by developing creative credit profiling techniques Nike Air Max Australia Online , according to a report by Chinese Academy of Social Sciences in 2016.

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