Business

Obama Backs Google In Dispute With China

Published

16 years ago

January 15, 2010

The Obama administration has leapt to the defence of Google after the internet search giant threatened to pull the plug on its Chinese operations.

Google has threatened threat to quit China

Hillary Clinton, the US Secretary of State, demanded “an explanation” for Beijing of Google’s allegation that its Gmail email system was infiltrated. “The ability to operate with confidence in cyberspace is critical in a modern society and economy,” she said.

Robert Gibbs, Mr Obama’s press secretary, emphasised that the President backed internet freedom and said that Google had co-ordinated with the Obama administration before it had acted.

The alleged cyber attacks have further strained Sino-US relations that are already fraying over issues of trade, currency, climate change and arms sales to Taiwan.

“We have been briefed by Google on these allegations, which raise very serious concerns and questions,” Mrs Clinton said.

Mrs Clinton had also met executives from Google and Microsoft, as well as with Cisco Systems, which provides much of China’s internet infrastructure, to discuss how to stop countries from “stifling” access to information, the state department added.

Next week the US is to launch a new technology policy to help citizens in other countries to gain access to an uncensored internet.

The Chinese authorities said they were seeking clarification over Google’s demand it be allowed to operate its Google.cn search engine free from the increasingly draconian censorship of the Great Firewall of China.

China has spent millions trying to project it’s ‘soft power’, however analysts said its rulers now faced a choice between protecting its power at home and suffering the embarrassment of being rejected by one of the free world’s biggest brands with negative consequences for the investment climate.

“It is setting us up for a clash, and it’s interesting to see who backs down. It’s the US versus China, but the companies will be lobbying,” said Chris McNally, a China analyst at the East-West Centre in Hawaii.

A spokesman for Google said the company was ‘in talks’ with the authorities, while outside Google’s offices in Beijing a handful of citizens braved the cold to lay flowers ‘in mourning’ at the prospect of Google’s departure from China.

Despite hopes that China would start to relax freedom of speech restrictions after the 2008 Olympics, China has in fact tightened of internet controls, blocking popular as social networkings sites such as Twitter, Facebook and YouTube.

The issue of censorship was raised by the US President Barack Obama on his maiden visit to China last November when he told an online town hall that he was “a big supporter of non-censorship.”

“I can tell you that in the United States, the fact that we have free internet – or unrestricted internet access – is a source of strength, and I think should be encouraged,” he said, to the evident irritation of his hosts.

The decision by Google to break ranks from other big corporations doing business in China and openly criticise the country’s autocratic leadership comes after four rocky years during which Google was forced to compromise its core belief in the free-flow of information.

Announcing its sudden change of heart on the company’s blogsite, David Drummond, Google’s chief legal officer, said: “These attacks and the surveillance they have uncovered – combined with the attempts over the past year to further limit free speech on the Web – have led us to conclude that we should review the feasibility of our business operations in China.

“We are no longer willing to continue censoring our results on Google.cn, and so over the next few weeks we will be discussing with the Chinese government the basis on which we could operate an unfiltered search engine within the law, if at all,” he said.

Human rights groups, which have criticised Google’s decision to submit Chinese censorship after setting up in China in 2006, applauded the company’s stand. The New York-based Human Rights Watch described it as “an important step” to protect human rights online.

“Through international pressure, finally a big business in the West has come to realise its own conscience,” said the prominent Chinese dissident Wei Jingsheng who lives in exile in the United States after 18 years in prison in China.

“Some Western businesses thought that by making compromises with the Chinese communists’ regime, they could do business as they wished.

However, this is impossible because the Chinese government would not be satisfied.”

Business

Insecurity, Poor Power Supply Hamper Business Activities – Survey

Published

5 days ago

November 18, 2025

The Tide

Business in Nigeria remain under pressure as a result of insecurity and erratic power supply which continue to stifle productivity in the country.
This is even as new data from the Central Bank of Nigeria (CBN) indicate sustained improvements in economic activity.
This was the response of businesses in the CBN’s October 2025 Business Expectations Survey (BES) and the Purchasing Managers’ Index (PMI) report.
While the PMI showed that economic activity expanded for the 11th consecutive month, the BES revealed that businesses are still grappling with crippling operational constraints that threaten to reverse recent macroeconomic gains.
According to the BES conducted between October 6 and 10, firms identified insecurity (71.8 points) as the most critical challenge affecting operations nationwide. This was closely followed by insufficient power supply (70.9 points), multiple taxation (70.2 points), high interest rates (68.4 points) and financial constraints (65.6 points). Analysts say these constraints underscore the depth of structural weaknesses confronting Nigeria’s private sector.
Despite these challenges, the survey reported a rise in business optimism. The Business Confidence Index increased to 38.5 points in October from 31.5 in September. Firms also projected confidence levels to reach 45.6 points in November, with expectations of further improvement over the next three to six months.
However, sector analysts warn that the optimism remains fragile due to the lack of significant improvements in the operating environment.
The BES further showed a modest rise in capacity utilisation from 60.4% in September to 62.0% in October, suggesting that businesses have yet to deploy their productive capacity amid ongoing disruptions fully.
In contrast to the structural constraints highlighted in the BES, the PMI report indicated strengthening economic momentum. The composite PMI rose to 55.4 points, reflecting expansion across major components such as output, new orders, employment, inventories, and supplier delivery times.
A sectoral breakdown showed that the agriculture sector recorded the most substantial improvement, with its PMI climbing to 57.5 points, marking 15 consecutive months of expansion. The services sector also expanded for the ninth straight month to 55.6 points, while the industry sector rose to 54.2 points, the highest in more than a year.
The CBN attributed the positive trends to improvements in the broader macroeconomic landscape, including declining inflation, which eased from 24.5% in January to 18.0% in September, and the year-to-date appreciation of the naira across both official and parallel markets.
The BES showed that the North-East posted the highest business confidence at 56.1 points, while the South-South recorded the lowest at 23.3 points, a trend linked to declining activity in oil-producing communities.

Business

FG Set To Launch Free National Financial Literacy Training For 100,000 Youths,

Published

5 days ago

November 18, 2025

The Tide

The Federal Government will on Tuesday, November 25, officially unveil a strategic programme for a free nationwide training of over 100,000 youth on financial literacy.
The Federal Ministry of Youth Development will launch the programme in collaboration with Investonaire Academy. Tagged, the “Financial Literacy, Investment, and Wealth Creation programme.”
The flagship initiative is designed to equip young Nigerians with essential financial skills, investment knowledge, and digital competencies for sustainable wealth creation.
A statement signed by the Director, Press and Public Relations, Federal Ministry of Youth Development, Omolara Esan, and made available to newsmen, confirmed that the launch of the programme, to be held in Abuja, would promote nationwide participation.
It added that the launch would bring together senior government officials, development partners, private sector leaders, and youth representatives to explore innovative approaches for improving financial capability and strengthening the economic prospects of young Nigerians.
Minister of Youth Development, Comrade Ayodele Olawande, would serve as the chief host, while the Minister of Women Affairs, Hajiya Imaan Sulaiman-Ibrahim, would grace the event as the Special Guest of Honour.
Also expected are representatives of key government institutions and private sector partners, including Dr Enefola Odiba, International Programme Director, Investonaire Academy, and Mr. Bashir Nurmohamed, Chief Executive Officer, Hantec Markets
The statement reads, “A major highlight of the event will be the unveiling of a free national financial literacy training programme targeting over 100,000 youths annually. The programme will be powered by a state-of-the-art Learning Management System (LMS) designed to enhance financial intelligence, investment capacity, and entrepreneurial readiness among Nigerian youth.

Lady Godknows Ogbulu

Business

‘Entrepreneurs, Not Foreign Aid Drive Nigeria’s Growth’

Published

5 days ago

November 18, 2025

The Tide

The chairman of the United Bank for Africa, Tony Elumelu, says Nigeria’s economic transformation will be driven by entrepreneurs, not government handouts or foreign assistance.
Elumelu, who spoke at the Grow Nigeria Conference 2.0 and themed ‘Empowering Nigeria’s Entrepreneurs: Building Institutions That Last’, in Lagos, Monday, said the nation’s future is already being shaped by business owners who refuse to settle for mediocrity.
Elumelu, who is also the founder of the Tony Elumelu Foundation, described Nigeria as an entrepreneurial nation but stressed the need to build institutions that can stand the test of time.
“Starting businesses is good. Sustaining them is critical, and that’s how we transform this economy,” he said.
He noted that many promising ideas fail because the systems and support structures necessary for growth are absent.
According to him, Nigeria’s renewal must come from the private sector, backed by strong governance frameworks and proper succession planning.
“Nigeria will not be built by government handouts or foreign aid. Government’s role is critical, but Nigeria will be built by entrepreneurs — by you, building businesses that create jobs, hope, and prosperity from the ground up,” he said.
Elumelu, however, emphasized that entrepreneurs cannot succeed in isolation.
“You need frameworks — clear governance, succession planning, and relentless focus on value. We need the right environment. We need a Nigeria where policies are predictable, infrastructure works, and financing is truly accessible,” he said.
He called for stronger alignment between public and private sector efforts, warning that progress would remain limited if institutions work independently rather than collaboratively.
Elumelu commended the Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Charles Odii, for ongoing reforms within the agency.
He further lauded President Bola Tinubu for appointing young Nigerians to lead key institutions and for prioritizing youth entrepreneurship.
“Let us cut the bureaucracy. Make finance and opportunity real, not theoretical. Let’s help Nigeria’s entrepreneurs move from surviving to winning.
“Every job we create fights insecurity. Every thriving business increases our tax base and accelerates prosperity for all,” Elumelu added.