Golden Drum Entry Deadline Extended Until August 15

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Golden Drum Entry Deadline Extended Until August 15

Golden Drum Festival announces more time for entry submissions into competition!

Advertisers, agencies, and other marketing communications professionals, have 10 additional days and can take part in the Golden Drum 2022 competition until August 15. 

The Young Drummers Competition will be open for 18 additional days, that is until August 22.

Golden Drum day, full of interesting speakers, award show and party to celebrate this year’s advertising harvest, will be live on September 23 in Rovinj, Croatia.

Enclosed you can find the latest press release and visual materials you can use sharing the news, where the Golden Drum logo, images and more materials are gathered on the Festival’s website here.

Latest US Dollar To Naira Black Market Rates Today, August 5, 2022

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Latest US Dollar To Naira Black Market Rates Today, August 5, 2022

Checkout US Dollar to Naira Black Market Selling and Buying Exchange Rates For Today Friday, 5 August 2022 On Brand Spur Nigeria.

First of, the parallel market which is popular known as black market exchange rate has been experiencing price fluctuation.

According to some reports and dealers, the fluctuation in the dollar to naira exchange rate in the parallel market is primarily dependent how much or less customers patronizes the dollar dealers.

Some dealers at the early hours of today which is 5th August 2022 reported a bit fluctuation in the market as the price per dollar to naira keeps going up and down.

How Much is Dollar to Naira and the official Exchange Rate today, 5th August 2022?

Please keep in mind that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and has recommended individuals interested in Forex contact their respective banks before proceeding.

The parallel exchange rate (black market rate) is always different from the CBN rate. The exchange rate between the US dollar and the Nigerian Naira significantly impacts the Nigerian economy.

As the Naira falls in value, inflation takes over the economy, which usually impacts the inhabitants. The Central Bank has stated that the Nigerian economy needs a significant turnaround and has asked Nigerians to work toward this goal, such as increasing exports.

The black market rate for dollars is frequently higher than the Central Bank of Nigeria (CBN). The CBN Exchange rate is the rate at which you can purchase or sell dollars for Naira on the CBN dollar-to-naira website, cbn.gov.ng.

The dollar to naira bank rate is the rate you use when you buy something from a foreign website with your Naira MasterCard or Debit card from a Nigerian bank. These rates are almost always cheaper than those available on the black/parallel market.

Dollar to Naira Black Market Rate Today, 5th August 2022

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate 635
Buying Rate 630

Factors Influencing Foreign Exchange Rates

Here are some of the causes of the dwindling dollar to naira exchange rate.

Inflation Rates: It is well known that inflation directly impacts black market exchange rates. If the Nigerian economy can be stabilized and inflation is brought under control, the naira will benefit; however, if the naira continues to fall, it may indicate that food and other necessities are becoming more expensive daily.

Interest Rates: Another tool to keep an eye on is interest rates. If the interest rate at which banks lend money rises, it would harm the economy, causing it to contract and, as a result, the value of the naira to fall.

Government Debt: National debt can impact investor confidence and, as a result, the influx of funds into the economy. If inflows are high, the naira exchange rate will rise in favour of the naira.

Speculators: Speculators frequently impact the naira-to-dollar exchange rate. They stockpile money in anticipation of a gain, causing the naira to plummet even lower.

Conditions of Trade: Favorable trade terms will increase the value of the naira to the dollar, although Nigeria is currently experiencing a trade deficit. Everything comes from China, India, and the majority of Asian countries.

Amazon Prime Video Adapts ‘LOL’ Format In Nigeria, Orders ‘Gangs Of Lagos’ And Opens Local Currency Services

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Amazon Prime Video Adapts ‘LOL’ Format In Nigeria, Orders ‘Gangs Of Lagos’ And Opens Local Currency Services

Amazon Prime Video has ordered the Nigerian originals “Gangs of Lagos” and “LOL: Last One Laughing Naija,” and opened up local currency services for the platform in the country.

The pair of productions mark the first originals for Prime Video in Nigeria, which is a key, established entertainment market for the streamers in Africa.

Crime thriller “Gangs of Lagos,” which will launch on the streaming service later this year, is a high-stakes action-crime thriller that follows a group of friends who each have to navigate their own destiny, growing up on the bustling streets and neighborhood of Isale Eko, Lagos.

The show stars Tobi Bakre, Adesua Etomi-Wellington and Chiké. “Gangs of Lagos” is directed and produced by Jade Osiberu, produced by Kemi Lala Akindoju and co-produced by Akin Omotoso.

Meanwhile, “LOL: Last One Laughing Naija” is a local adaptation of the wide-traveling Amazon original. The unscripted series finds a group of comedians competing to be the “last one laughing.” The show is hosted by the comedian and entertainer Basketmouth, who will pit 10 famous Nigerian comedians against one another to see who will ultimately win by keeping a straight face.

“LOL: Last One Laughing Naija” is filmed and produced in Nigeria by Livespot360. It follows the success of the format, which has already launched in Japan, Mexico, Brazil, Australia, India, Canada, Germany, France, Italy and Spain. The show will launch next year.

Both local productions build on recent film deals, including an exclusive commissioning slate deal with Nemsia Films for three feature films, beginning with “Breath of Life,” launching next year. Other exclusive licensing agreements include deals with Nigerian production studios Inkblot Studios and Anthill Studios, where Prime Video gets their movies after theatrical release. The deal includes such titles as box office hit “King of Thieves,” “Superstar,” “Progressive Tailors Club,” “Bad Comments” and “Badamasi.”

Elsewhere, customers in Nigeria can now sign up to Prime Video in the local currency, the Naira. A Prime Video membership will cost 2,300 NGN ($5.50) per month. Alongside the offering, and to help draw customers, the SVOD has also launched its first locally developed marketing campaign in Nigeria.

“We’re delighted to be increasing our investment in Prime Video for customers in Nigeria, making it a truly localized experience,” said Josh McIvor, director of international expansion at Prime Video. “From local payment and a full-scale local marketing campaign, to more local content specifically for Nigerian customers, our investment in Nigeria is a significant step towards our broader expansion plans in Africa and our ambition to be the most local of global streaming services.”

Wangi Mba-Uzoukwu, head of Nigerian originals at Prime Video, added: “We know our customers want to see locally relevant faces, places, and stories alongside our global content on Prime Video, so we’re excited to be bringing Nigerian customers these brand-new local Amazon originals, ‘Gangs of Lagos’ and ‘LOL: Last One Laughing Naija,’ which will complement our growing selection of Nollywood and African series and movies. The news signals our continued commitment to the Nigerian TV and film industry, bringing the very best of authentic, homegrown stories to not only our customers in Nigeria, but also Prime Video members around the world.”

 

Meta Sales Decline: Facebook Now An Old Cyclical Business

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Meta Sales Decline: Facebook Now An Old Cyclical Business

Facebook and its parent company Meta Platforms have not lost their mojo. They have simply grown to the point where the advertising cycle dominates company revenues.

That’s the cause of their recent revenue decline and the likely fate of other tech businesses. The companies that appeared brilliant when young and growing rapidly now look like old rust-belt companies moving up and down with the business cycle.

Advertising has always been a cyclical industry, at least as long as data has been collected. Looking as far back as 1919, total advertising adjusted for inflation grew 5.7% per year outside of recessions but fell 5.6% in recession years.

Although marketing people often say that it’s in recessions when a company should ramp up its advertising, the math just doesn’t work out that way. But the cold, hard facts of advertising show that actual dollars spent decline in economic downturns.

The larger a company’s market share grows, the more it will be influenced by overall industry trends and the less that the company’s own trajectory matters to sales. That seems to be the case with Amazon’s online store sales, which dropped in the second quarter of 2022. That will also be true of Tesla when (and if) it achieves the market share of General Motors or Toyota—they will ride the auto industry cycle rather than continue growing market share.

Think of a large and very cyclical industry, such as steel or automobiles or paper. Now imagine a small company with better management or technology. It begins with just a small fraction of one percent of total industry sales, but it grows by 50% a year. This company will appear to be non-cyclical. Its sales growth will reflect how well it deals with its own growing pains and how it makes breakthroughs to win more customers. At first, the industry cycle dictates where a particular year’s growth is 55% or just 45%. Even the smaller number is pretty amazing in a mature industry.

Eventually the law of diminishing returns will set in, and growth will drop from 50% a year to 30% or 20%. But that early growth has made it a large part of the total industry. Now the industry cycle may peg growth at 25% in good years or 15% in poor years. It’s still not very cyclical, at least compared to the legacy companies. As market share growth inevitably declines, though, industry cycles come to dominate changes in company sales. And that’s where Meta finds itself.

Being cyclical is not awful, though in downturns it’s certainly less fun than being stable. And having grown rapidly is good, assuming profits came along with the sales growth. The challenge for business leadership is understanding the new problems to be dealt with.

In the early days of the tech company, achieving growth is the key. Whether the economy grows by two percent or three percent is irrelevant, because a great new product can achieve more sales regardless of the economy.

In the cyclical stage, though, company leadership must think through what business cycles mean. By how much will revenues drop in a recession? Will spending have to be cut? Probably yes. And how should it be cut? Staff layoffs, less marketing, slow down capital spending or eliminate goat yoga classes for employees?

Cycles don’t only go down, they also go up, and often unexpectedly. Business leaders must consider—when conditions are their worst—how tthey will meet increased demand when it comes. That could require adding employees, equipment, locations and financing all of this expansion before invoices are paid.

Growing is good, and growing to the point that the business becomes cyclical is what happens when growth continues long enough. New skills are needed. That’s true of Meta and all the other great companies with great ideas.

3 Best Small SUVs For The Money In 2022

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3 Best Small SUVs For The Money In 2022

The small SUV vehicle segment is one of the most competitive vehicle segments in America, alongside the full-size pickup truck vehicle segment.

Fierce competition has forced automakers to produce some of the best vehicles on the market for the small SUV segment. Automakers like Toyota, Honda, Mazda, and Hyundai all aim to produce the most popular small SUV. Which small SUVs provide the most value for the money in 2022?

The 2022 Hyundai Tucson brings the value in a major way

The 2022 Hyundai Tucson is having an incredible year. The Tucson has been redesigned for the 2022 model year. It offers more cabin and cargo space than the previous model year. The 2022 Tucson also features a futuristic new exterior design with bold character lines. YouTubers from the TheStraightPipes YouTube channel claim that the Tucson has the best daytime running lights and headlights on the market.

The base model 2022 Hyundai Tucson uses a 2.5-literfour-cylinder engine to make 187 horsepower. It achieves 26 miles per gallon in the city and 33 miles per gallon on the highway. The Tucson is practical and offers engaging driving dynamics. It is easily one of the best small SUVs for the money in 2022.

The Honda CR-V is a small SUV staple

While many nameplates are disrupting small SUV rankings, some models have remained consistent over the years. The Honda CR-V and Toyota RAV4 have been in best small SUV conversations for decades. They’re part of the old guard, and newcomers rarely get between these Japanese small SUVs and the top of rankings.

The 2022 Honda CR-V starts at $26,800. It uses a 1.5-liter four-cylinder engine to make 190 horsepower. The CR-V achieves 28 miles per gallon in the city and 24 miles per gallon on the highway. The 2022 Honda CR-V is one of the best small SUVs for the money because of its roomy interior, superior fuel economy, and exciting powertrian options.

The 2022 Mazda CX-5 is value-oriented

A white Mazda CX-5 compact SUV is driving on the road.
The 2022 Mazda CX-5 | Mazda

The 2022 Mazda CX-5 definitely brings the value. The affordable small SUV model resembles a luxury compact SUV, especially at higher trim levels. The CX-5 Turbo Signature is practically a luxury SUV.

The Mazda CX-5 starts at $26,250. It uses a 2.5-liter four-cylinder engine to make 187 horsepower. The small SUV achieves 24 miles per gallon in the city and 30 miles per gallon on the highway. Car and Driver gave the 2022 CX-5 an Editor’s Choice award.

It’s Worth It To Bring Up Inflation At Work, Even If You Don’t Get A Raise Now

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It’s Worth It To Bring Up Inflation At Work, Even If You Don’t Get A Raise Now

Employers are bumping pay and adding perks to offset workers’ inflation concerns, but if you haven’t seen anything come out of your own workplace, it could be a good time to apply some pressure.

Nearly two-thirds of U.S. employers said they increased their compensation budgets this year due to inflation, according to a recent report from Gallagher that surveyed some 800 companies. Indeed, in the second quarter of 2022, job-switchers saw their pay grow by 9.5% year-over-year, while wages for job-holders went up by 7.2%, according to ADP data.

But with inflation hitting 9.1% in June, a lot of those wage gains aren’t enough to keep pace with rising living costs. If your recent raise didn’t match inflation, or you didn’t see a pay adjustment at all in the last year, it’s worth bringing your concerns and some solutions to the table, says Madelyn Machado, a reverse recruiter in Tampa, Florida.

One is to ask for a raise — focus on how you helped the company save or make money, she says, and tie in that inflation and a tight job market make this a good time to adjust your pay.

Even if you get a “no” at the moment, Machado says it’s still worth communicating that you’re worried about inflation. If you’re concerned about it, your coworkers probably are, too.

“When enough people have this conversation,” Machado says, “it’s data that managers are going to bring to their compensation and finance teams. They’ll be able to say, ‘we’re having a lot of conversations about inflation. What are we going to do about it?’”

These discussions could lead to real action across the board: Recently, simPRO, a business management software company, announced an inflationary pay increase of up to 10% for every employee that earns less than $80,000 per year “to combat the impacts of inflation on simPRO’s employees.”

Even if you don’t secure a permanent raise, another solution is to ask about other non-salary perks to offset inflation and return-to-office costs. So far this year, Gallagher reports that employers are supporting workers’ increased living costs by providing:

  • Flexible work schedules (61%)
  • Extended timelines for remote work (29%)
  • Free meals or snacks (19%)
  • Transportation reimbursement (11%)
  • Additional paid time off (10%)
  • Child-care assistance (4%)
  • Housing assistance (1%)

Machado wants people to remember that salary changes can take weeks to be approved and go into effect. Others, still, may not be able to make any changes for the foreseeable future.

“Even if you do all this, it doesn’t mean you’ll get the raise you’re looking for,” Machado says. “If that’s important to you, it’s time to get into the [job] market.”

 

IMF Reveals Why India Should Gradually Withdraw Fiscal, Monetary Stimulus

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IMF Reveals Why India Should Gradually Withdraw Fiscal, Monetary Stimulus

*To maintain external sector balance at a comfortable level over the medium term, the International Monetary Fund (IMF) has recommended that India should gradually withdraw its fiscal and monetary policy stimulus, develop export infrastructure, and negotiate free-trade agreements with key trading partners to provide a sustainable boost to exports.

In its latest External Sector Report released on Thursday, IMF said India should further liberslise its investment regime accompanying it with reduction in tariffs, especially on intermediate goods. “Structural reforms could deepen integration in global value chains and attract FDI, hence mitigating external vulnerabilities. Exchange rate flexibility should act as the main shock absorber, with intervention limited to addressing disorderly market conditions,” IMF said.

The IMF said India’s external position in FY22 was broadly in line with the level implied by medium-term fundamentals and desirable policies. “Running current account deficits is broadly consistent with India’s level of per capita income, favourable growth prospects, demographic trends, and development needs. External vulnerabilities stem from volatile global financial conditions and significant increases in commodity prices,” it said.

The multilateral lending agency projected India’s current account deficit (CAD) to widen to 3.1 per cent of GDP in FY23 from 1.2 per cent of GDP in FY22. “In part reflecting the impact of the war in Ukraine on oil prices, the CAD is projected to widen in fiscal year 2022-23 but then stabilise over the medium term. The authorities have made some progress in external trade promotion and the liberalization of FDI and portfolio flows, but the existing tariff structure remains broadly unchanged,” it said.

As of the end of 2021, IMF said India’s net international investment position (NIIP), which is the difference of the country’s external financial assets and liabilities, had improved to –11.1 per cent of GDP from –13.5 per cent of GDP at the end of 2020. “This reflected a relatively low CAD (amid the Covid-19 pandemic) and the accumulation of reserve assets. Gross foreign assets and liabilities were 30.5 per cent of GDP and 41.7 per cent of GDP, respectively. The bulk of assets were in the form of official reserves and (outward) FDI, whereas liabilities included mostly FDI and other investments,” it said.

India’s external debt liabilities are moderate compared with peers, and short-term rollover risks are limited, IMF said. “The moderate level of foreign liabilities reflects India’s incremental approach to capital account liberalization, which has focused primarily on attracting FDI. While FDI inflows covered the CAD in FY22, structural reforms and improvement of the investment regime to promote FDI are needed. Volatile portfolio investments are very sensitive to changes in global financial conditions and country risk premia. Expected inclusion of India in international bond indices should increase portfolio investment inflows for financing the CA deficit over the medium term,” it added.

The IMF said an unusual period of current account surpluses in 2020 and early 2021 allowed the Reserve Bank of India to replenish official forex reserves, which reached a record high of about $638.5 billion at the end of 2021. The reserves decreased in subsequent months but remained at a comfortable level of about eight months of import coverage.

“Various criteria confirm that official forex reserves are adequate for precautionary purposes. As of the end of 2021, they represented about 223 per cent of short-term debt (on residual maturity) and 195 per cent of the IMF’s composite metric. Consequently, accumulation of additional reserves is less warranted, and forex interventions should be limited to addressing disorderly market conditions,” it said.

StoreFriendly Foundation and Hong Kong Lions Club, Food for Good to Distribute Love Lunch Boxes; Help the disadvantaged

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HONG KONG SAR – Media OutReach – 5 August 2022 – StoreFriendly has been established for 20 years since its establishment. It is committed to fulfilling its corporate social responsibility and actively giving back to society in different ways. On July 29, the StoreFriendly Foundation, a subsidiary of the Self-Storage Group, together with the Hong Kong Lions Club and “Community Kitchen” Food For Good distributed love lunch boxes and sponsored 300 lunch boxes to the elderly and families in need to give back to the community.

“KeenAble Creation” Debut NFTs Launch Live Press Conference at a 2-Level Gallery in METAVERSE

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HONG KONG SAR – Media OutReach – 5 August 2022 – KeenAble Creation proudly presents their 1st NFT artworks in DECENTRALAND! As the charity partner of Affordable Art Fair 2022, KeenAble Creation which represents “special needs artists”, launched its first NFT collection of 35 pieces with internationally renowned artists Mr. Ko Nam, Ms. Liu Tung Mui, together with Creative Director Ms. Maxim Tang, guest tutor Ms. Esther Chow and 12 workshop artists.

Hashtag: #KeenAbleCreation #prnetworkhk #ArtNFT #charity

About KeenAble Creation

Founded in 2009, KeenAble Creation is a charitable organization which is committed to nurturing special needs artists and promoting their art. It provides training to budding special needs artists and empower them to be active creators. KeenAble Creation also provides a variety of services connecting its artists with the commercial sector and the general public.

Website:

Sponsors:

  • Belt and Road International Young Artist Design Centre
  • Hop Yuen Charitable Foundation
  • PR Network
  • BOAX
  • Artify
  • Easy Group
  • Tenet Limited
  • Six Degrees

Live Press Conference @Decentraland Technical Support:
Popsible Limited

NHG And Tanoto Foundation Combat Diabetes With Diabetes Reversal Programme

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SINGAPORE – Media OutReach – 5 August 2022 – In line with nationwide efforts to combat diabetes, the National Healthcare Group (NHG) and Tanoto Foundation are spearheading a Diabetes Reversal[1] Programme in Singapore. The Programme seeks to control blood sugar levels in diabetes patients through behavioural change without the need for medication or surgery. Co-funded by a S$2.6 million contribution from Tanoto Foundation and S$1 million from the NHG Fund, this initiative will boost diabetes research in primary care and the community.

Senior Minister of State for Health, Dr Janil Puthucheary visited Kallang Polyclinic today and graced the official launch of the Programme. During the event, Dr Janil observed how patients could be engaged, educated and empowered to prevent and delay the onset of diabetes, and the interventions that would be implemented during the key phases of the Programme.

Currently, obese individuals with early diabetes are prescribed glucose-lowering medications, or recommended to undergo bariatric surgery. While diabetes control can be achieved in this manner, achieving and maintaining weight loss for these individuals can be a window of opportunity for diabetes reversal.

The research team from NHG aims to study the barriers and facilitators which can help inculcate positive health behaviours. The team will also conduct a clinical trial for an intensive weight management regime in reversing early diabetes in obese patients. This involves close partnership between patients, doctors and dietitians to create special low-calorie meal plans for these patients, customised to the local palate.

Executive Advisor at Tanoto Foundation Mr Bey Soo Khiang, said, “As a philanthropic organisation, we add value by supporting ground-breaking research, which can be costly, and by contributing where it matters most. As some one million individuals in Singapore are projected to have Type 2 Diabetes by 2050, we hope our partnership with NHG can help bend the curve in the war against the disease. Most importantly, while research on diabetes reversal has been done in countries such as the United Kingdom, this collaborative Programme between NHG and Tanoto Foundation will be conducted in the local primary care setting, to better study and address how our diet, environment, and culture can affect health and disease patterns.”

Associate Professor Chong Phui-Nah, Chief Executive Officer of National Healthcare Group Polyclinics (NHGP) and Primary Care, said, “NHGP is committed to providing an effective multi-pronged approach to tackle diabetes. Apart from medical treatment, health education, patient engagement and empowerment of individuals are of paramount importance to help those at high-risk to modify their self-care behaviours and lifestyle, and to manage their diet and level of physical activity. Our aim is to better understand the challenges that patients face in their social environment and how we can better support them to take greater ownership of their health outcomes through research. The Diabetes Reversal Programme is one such study that proposes a new model of care to help patients reverse diabetes and manage their condition well.”

Professor Benjamin Seet, Deputy Group Chief Executive Officer (Education and Research) of NHG, said, “At NHG, we do things differently by putting the patient first, and focusing on real world research that directly leads to better health outcomes and quality of life. A good example would be the programme we are launching today – this partnership, where a philanthropic organisation like the Tanoto Foundation works closely with primary care doctors, dieticians and patients, right within the community, can only bring about impactful change.”

[1] Definition of Diabetes Reversal: Maintaining blood sugar levels below the diabetes range without medication.

Hashtag: #TanotoFoundation

The issuer is solely responsible for the content of this announcement.

About National Healthcare Group

The National Healthcare Group (NHG) is a leader in public healthcare in Singapore, recognised at home and abroad for the quality of its medical expertise and facilities. Care is provided through an integrated network of seven primary care polyclinics, acute care and tertiary hospitals, national specialty centres and business divisions. Together they bring a rich legacy of medical expertise to our philosophy of integrated patient-centred care.

NHG’s vision is “Adding Years of Healthy Life”. This vision goes beyond merely healing the sick to the more difficult and infinitely more rewarding task of preventing illness and preserving health and quality of life. With some 22,000 staff, NHG aims to provide care that is patient-centric, accessible, seamless, comprehensive, appropriate and cost-effective.

As the Regional Health System (RHS) for Central-North Singapore, it is vital for NHG to partner and collaborate with stakeholders, community advisors, and voluntary welfare organisations. Together with our patients, their families and caregivers, we aim to deliver integrated healthcare services and programmes that help in Adding Years of Healthy Life to all concerned.

More information is available at .

About The Tanoto Foundation

Tanoto Foundation is an independent philanthropic organisation founded by Sukanto Tanoto and Tinah Bingei Tanoto based on the belief that every person should have the opportunity to realise his or her full potential. Tanoto Foundation programmes stem from the belief that quality education accelerates equal opportunity. We harness the transformative strength of education to realise people’s full potential and improve lives. Tanoto Foundation focuses on making an impact in three main areas: improving learning environments, future leader’s development, as well as medical research and sciences.

More information is available at .

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