Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/291124219?client_source=feed&format=rss
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Interestingly, despite the recent global meltdown and turmoil in Dubai where property prices are coming down, discerning investors, with eyes on the future are building more portfolios in real estate.
And following the approval of a new National Housing Policy and a new Urban Development Policy by the Federal Executive Council last June, foreign capital has been flooding into the country for housing development under the Private-Public Partnership (PPP) through which the federal government intends to build one million housing units annually under the new housing policy.
The reason for the blossoming real estate sector in Nigeria, according to Seyi Oyetunde, Managing Director/Chief Executive Officer, Continental Estates, is because ?real estate cannot crash, it stabilizes. Demand is higher than supply in real estate. I tell you there is nowhere else like real estate. The richest men in the world, if you look at their wealth, the bulk of it comes from real estate. I can?t remember exactly now but I know about 90 per cent of the world?s richest men thrive in real estate. Even when they do other things, it is based on their stock of real estate. They own corner shops everywhere, corner shops that enjoy appreciation. Because they own their own shops, they don?t rent and if at all they?ve got to rent, maybe it?s out of compulsion. But 90% or 95% of their locations are out rightly owned. People whose wealth is phenomenal and will last about four generations without effort are in real estate. I tell you it is exodus syndrome that happens in Nigeria. With the direct foreign investment into the Nigerian market too, many shops are opened, so many people globally are beginning to realize that the local market in Nigeria is attractive for their various businesses. One of the first things they will need is commercial real estate and then maybe back it up with one serious luxury apartment for the CEO and then the other managers can be given housing allowances and the rest of them.?
Source: http://peoplesdailyng.com/foreign-investors-swoop-on-real-estate-opportunities-in-nigeria/
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Rep. Paul Ray, R-Clearfield, gives an interview in the background while a candy jar filled with cigarettes and candy sit on a podium following a news conference Wednesday, Rep. March 6, 20013, at the Utah State Capitol, in Salt Lake City. Ray wants to make electronic cigarettes and dissolvable tobacco products taxable. The alternative cigarettes are battery-powered devices that heat a liquid nicotine solution and create vapor that users inhale. Currently, anyone can buy them because they're not classified as tobacco products. Ray sponsored the bill, which would also bar anyone under the age of 19 from entering a smoke shop. (AP Photo/Michelle Price)
Rep. Paul Ray, R-Clearfield, gives an interview in the background while a candy jar filled with cigarettes and candy sit on a podium following a news conference Wednesday, Rep. March 6, 20013, at the Utah State Capitol, in Salt Lake City. Ray wants to make electronic cigarettes and dissolvable tobacco products taxable. The alternative cigarettes are battery-powered devices that heat a liquid nicotine solution and create vapor that users inhale. Currently, anyone can buy them because they're not classified as tobacco products. Ray sponsored the bill, which would also bar anyone under the age of 19 from entering a smoke shop. (AP Photo/Michelle Price)
Rep. Paul Ray, R-Clearfield, makes remarks during a news conference Wednesday, Rep. March 6, 20013, at the Utah State Capitol, in Salt Lake City. Ray wants to make electronic cigarettes and dissolvable tobacco products taxable. The alternative cigarettes are battery-powered devices that heat a liquid nicotine solution and create vapor that users inhale. Currently, anyone can buy them because they're not classified as tobacco products. Ray sponsored the bill, which would also bar anyone under the age of 19 from entering a smoke shop. (AP Photo/Michelle Price)
SALT LAKE CITY (AP) ? A proposal in the Utah Legislature that would tax electronic cigarettes at the same rate as regular cigarettes has put the state at the forefront of a national movement to regulate the increasingly popular devices.
More than 35 proposals calling for some type of regulation of electronic cigarettes have been introduced this year in legislatures across the country, but Utah seems to be the only state currently proposing that they be taxed like regular tobacco, said Karmen Hanson, a tobacco policy analyst with the National Conference of State Legislatures. Hanson is unaware of any state with a law like this on the books.
Often called "e-cigarettes," the battery-powered devices heat a liquid nicotine solution and create vapor that users inhale. Their popularity has spiked in recent years.
First marketed overseas in 2002, e-cigarettes first became widely available in U.S. in 2006. There are several million users worldwide today, up from a few thousand in 2006. Analysts estimate sales could double to $1 billion in 2013.
Some companies have even started running TV commercials, including an ad during this year's Super Bowl that showed a man using an electronic cigarette made by an Arizona-based company.
Many states have been waiting for the Food and Drug Administration to come out with regulation before passing their own laws, but states seem to be growing impatient, Hanson said.
"The more popular they become, a more prominent public policy issue they become," Hanson said. "Without federal regulation, it's left up to the states."
The Food and Drug Administration's current stance is that health impact of electronic cigarettes is unknown because it has not been properly studied. There is speculation that the agency will take over regulatory authority of the devices this year, dealing with them in a similar way as they do with regular cigarettes and other tobacco products.
The Utah measure's sponsor, Republican Rep. Paul Ray, says e-cigarettes should not be considered healthy.
"They're trying to sell them as nicotine replacement therapy. It is not," Ray said this week. "It is not an FDA-approved nicotine replacement therapy. There's medications, there's patches, there's things for that. This is not one of them."
Ray considers electronic cigarettes similar to other tobacco products and says they should be taxed as such. His measure extends to dissolvable tobacco, which is pressed into shapes like tablets that slowly melt in a user's mouth.
"This is terrible stuff. They're peddling stuff that they know absolutely will kill people," Ray said. "This is an industry who kills their clientele."
Utah law already prohibits anyone younger than 19 from possessing the products or anyone from selling the products to someone younger than 19, but because of a loophole, county and city agencies are not able to impose fines or penalties on those selling e-cigarettes or dissolvable tobacco products to anyone underage.
The electronic cigarettes would be taxed at 86 percent, Ray said. That's the same as Utah's rate on cigars, roll-your-own tobacco or pipe tobacco.
On cigarettes, the state tax is generally a flat $1.70 for a pack of 20 smokes.
It usually costs about $50 to buy the equipment to get started using electronic cigarettes, said Brandon Stauffer, who has used the devices to quit smoking. After that, the main cost is buying the "e-juice," which is a nicotine-laced liquid that becomes the vapor when heated. A 30-milliliter dose usually costs $15-$20 and lasts about two weeks, Stauffer said.
So, under Ray's proposal, a $20 batch of liquid nicotine would cost about $37.20. Currently, people only pay regular sales tax on electronic cigarette items.
A legislative analysis shows the state could see an additional $1.6 million a year if the e-cigarette tax becomes law.
It's unclear how far the measure will get in this year's legislative session, which comes to a close Thursday. An amended version of the bill passed through a House committee Wednesday afternoon. It is now awaiting debate by the full House. If approved, it moves to the Senate for consideration.
Electronic cigarettes are touted as a way to break an addiction to traditional cigarettes. Stauffer, 38, of West Point, Utah, is among the believers. He credits the devices with helping him quit smoking after 20 years. He had tried quitting a dozen different times using nicotine patches, gum and lozenges.
"Quitting smoking has never been easier. I quit almost overnight," said Stauffer. "Cigarettes taste horrible to me now. And, I'm doing much less harm to my body by doing this."
Since he started using electronic cigarettes in late 2011, Stauffer has gradually been cutting back on the amount of liquid nicotine in the devices. He's hoping to be able to stop using them all together within a year.
"Vilifying these products is the wrong approach," Stauffer said. "If the state and this country is serious about helping us make healthy choices then this is something that should be encouraged."
___
Follow Brady McCombs at https://twitter.com/BradyMcCombs . Associated Press writer Michelle L. Price contributed to this report.
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JOHANNESBURG (AP) ? South Africa's presidency says Nelson Mandela has spent a night in the hospital after he was admitted for tests.
Presidential spokesman Mac Maharaj said Sunday there were no updates on 94-year-old Mandela's condition since he went to a hospital in Pretoria on Saturday afternoon.
In a statement Saturday, Maharaj said the medical tests for the anti-apartheid leader and former president were scheduled and that doctors have indicated there is no cause for "alarm."
Mandela was hospitalized for nearly three weeks in December before going home on Dec. 26. At that time, he was treated for a lung infection and had a surgical procedure to remove gallstones.
Source: http://news.yahoo.com/south-africa-mandela-spends-night-hospital-082837127.html
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LOS ANGELES (AP) ? Dwight Howard scored 16 points and grabbed 21 rebounds, Kobe Bryant chipped in with 19 points, nine assists and seven rebounds, and the Los Angeles Lakers beat the Chicago Bulls 90-81 Sunday.
The Lakers improved to 33-31, the first time this season they have been two games over .500. They also moved one-half game of the Utah Jazz and into sole possession of the No. 8 and final playoff spot in the Western Conference.
The Lakers led almost throughout, only briefly falling behind by two points in the second quarter, and led by as many as 18 in the third period.
Steve Nash had 16 points for the Lakers.
Nate Robinson led the Bulls with 19 points, and Joakim Noah had 18 points and 17 rebounds.
Bryant was scoreless in the first quarter, but the Lakers maintained a lead behind Howard's play in the paint. He made 8 of 14 shots from the floor, but was 0 for 5 from the free throw line. His 21 rebounds marked the fourth time this season he's grabbed at least 20.
After a sluggish first half by both teams, the Lakers came out hot to start the third quarter. Led by 10 points from Nash, Los Angeles went on a 21-7 run to begin the quarter, capped by a 3-pointer by Jodie Meeks that gave the Lakers a 65-47 lead. But the Bulls responded with an 8-0 spurt to narrow their deficit to 65-55.
The Lakers finished the third quarter with a 73-61 lead when Earl Clark took a pass from Bryant and made a jumper at the buzzer.
Bryant took only three shots in the first quarter, going scoreless in the opening 12 minutes. Metta World Peace was cold as well, missing four open 3-pointers, but the Lakers held an early lead thanks to Howard's efforts down low. Though he missed all three free throws he took in the quarter, Howard was 3 of 3 from the field for six points and grabbed seven rebounds.
The Lakers never trailed in the opening period, leading by as many as six before the Bulls cut the margin to 20-16 heading into the second quarter.
Bryant finally got into the scoring column on a jumper in the lane with 7:15 left until halftime, then quickly hit another outside shot. But the Lakers couldn't shake the Bulls, who pulled within 34-32 on a layup by Robinson, Howard picking up his third foul on the play.
Howard remained in the game but the Bulls briefly pulled ahead, going up 36-34 on a basket by Carlos Boozer.
The Lakers regained the lead shortly thereafter on a 3-pointer by Meeks, and led 44-40 at the half, but not without a little drama. After World Peace was called for a foul on an illegal screen, denying Bryant a chance to take the final shot of the half, Bryant and World Peace barked at each other as they made their way upcourt. Nash got between the two to calm them down.
Howard led the Lakers with eight points and 11 rebounds, while Bryant finished the half with six points on 3 of 9 shooting. Robinson led the Bulls with 13 points.
NOTES: Lakers forward Pau Gasol (foot injury; torn plantar fascia) remains on track to return before the end of the regular season. "Gasol is coming on," Lakers coach Mike D'Antoni said. "It's five weeks on Tuesday, and they said six to eight weeks, so hopefully that's the case. If there are no setbacks, he should be back." ... Bulls guard Derrick Rose, recovering from surgery on his left knee last May, is close to returning. But coach Tom Thibodeau said he can't look ahead to how the team will adjust with Rose, the 2011 NBA MVP, back on the floor. "We'll cross that bridge when we get there," Thibodeau said. "For us right now, the guys that are playing, they have to concentrate on their improvement and our next opponent. Derrick has to concentrate on his rehab."
Source: http://news.yahoo.com/howard-leads-lakers-over-bulls-90-81-221931159--spt.html
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