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Jihadist violence and coups test West Africa ECOWAS bloc at 50

Jihadist violence and coups test West Africa ECOWAS bloc at 50

Yahoo4 days ago

LAGOS (Reuters) -The Economic Community of West African States (ECOWAS) faces growing threats of terrorism, climate change, military coups, and poverty, its most senior official said on Wednesday as leaders marked 50 years since the bloc's formation in Nigeria.
Jihadist violence has surged this year in Nigeria and the Sahel region, including Burkina Faso, Mali, and Niger - nations that have recently seceded from ECOWAS in protest over sanctions following military coups.
"We are confronting the greatest challenges we face today, terrorism, climate change and unconstitutional change of government, poverty and economic disparities," ECOWAS Commission President Omar Alieu Touray said, expressing confidence in overcoming the challenges.
Established on May 28, 1975, ECOWAS aimed to promote regional economic integration, security cooperation, human rights, and democratic governance.
However, five decades later, military juntas in founding member states Burkina Faso, Mali, and Niger have disassociated from the bloc, saying it no longer serves their interests.
The countries have formed their own Alliance of Sahel States and a confederation, cut military and diplomatic ties with Western powers and sought closer cooperation with Russia.
Touray said ECOWAS would continue trying to cooperate with the three countries.
Security and political analysts said curbing insecurity was crucial for ECOWAS to fulfill its promise of prosperity and lift millions from poverty.
Beverly Ochieng, senior analyst at Control Risk in Dakar, Senegal, said: "If you don't have security, then of course it means that you cannot guarantee a robust economy in the region."
Analysts also criticized ECOWAS for its silence when leaders controversially amend constitutions to extend their rule, leading to citizens applauding military coups.
They cited the recent example of Togo's leader Faure Gnassingbe, who was granted the influential new role of President of the Council of Ministers with no fixed term limit - a move opposition parties labelled a constitutional coup potentially extending his rule indefinitely.

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At least 7 killed, 30 injured after bridge collapse, train derailment in Russia near Ukraine
At least 7 killed, 30 injured after bridge collapse, train derailment in Russia near Ukraine

USA Today

time3 hours ago

  • USA Today

At least 7 killed, 30 injured after bridge collapse, train derailment in Russia near Ukraine

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At least 7 dead as bridges collapse in 2 Russian regions bordering Ukraine
At least 7 dead as bridges collapse in 2 Russian regions bordering Ukraine

New York Post

time5 hours ago

  • New York Post

At least 7 dead as bridges collapse in 2 Russian regions bordering Ukraine

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Is a long-term hedge fund strategy possible in this market?
Is a long-term hedge fund strategy possible in this market?

Business Journals

time7 hours ago

  • Business Journals

Is a long-term hedge fund strategy possible in this market?

There has never been so much brinkmanship from a U.S. administration in modern times. The first month of executive orders has produced a cyclone of speculation and a great deal of action and reaction. The U.S. recently enacted tariffs on Canada, Mexico, and China. Within one day, the first two were paused. Such moves have injected a great deal of volatility into markets. Conflicting business policies continue to add to the uncertainty and volatility. How can hedge fund managers hold to a medium- to long-term strategy in a world where so much is uncertain? In this article, we look at how fund managers have been preparing and will continue to respond by lowering their beta exposure. The current state of hedge fund activity Hedge funds began the year divesting from equities. This culminated in a selloff the Friday before the new tariffs where hedge funds 'sold nine of 11 sectors in the S&P,' reported Bloomberg. The most-sold groups included: Consumer discretionary Industrials Financials Energy Communication services Information technology Meanwhile, retail investors bet the opposite. As fund managers sold stocks, retail investors poured $2.1 billion into equities. The market dropped upon news of the tariffs, though less than expected. Futures fell — the Nasdaq composite, 2.35%, and the S&P, 1.7%. It is clear everyone is reading the room differently and holds a wide variety of views on the long-term health of the U.S. economy. On the one hand, JP Morgan Chase announced that it expected tariffs to lower U.S. growth by 0.5%-1% and raise inflation by that same amount. On the other, a Feb. 3 Gallup poll found consumers buoyant. Sixty-one percent expect stocks to rise in value, the most since Gallup began including that question in 2001. Yet, is it worth asking how useful projections, even when given sweeping tariffs, can be paused the next day? What is the long-term effect of those partnerships? 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Managers want less exposure to technology stocks Tariffs aside, stock market routs like the one that followed news of China's AI DeepSeek have managers on edge. As DeepSeek panic spread, the chipmaker Nvidia shed $600 billion in market cap. Since the industry has shifted to AI models, fortunes seem to rise and fall faster. Managers want less exposure to emerging markets The administration's protectionist policies seem certain to favor the dollar at the expense of our trading partners. They also favor reshoring operations. This makes it difficult to gauge the long-term value of foreign investments, even if they may be more attractive. Managers are bullish on alternative investments Fifty-six percent of hedge funds now have multiple managers and more capacity to shift into alternative investment strategies. For example, real estate and healthcare – from our conversations, hedge fund managers feel all the protectionist policies and declining trade make real estate and healthcare better investments. Consider the implications of new investment strategies As hedge funds shift their investing strategies, there may be a learning curve for firms entering new territory. Managers newly entering commercial real estate will find that the standard capital stack has changed over the past few years, and mezzanine debt is preferred over equity. There also may be new tax consequences to consider. For example, municipal bonds are taxed federally unless they are tax-free, in which case they are probably still subject to state and local taxation. Citrin Cooperman's hedge fund professionals are here to support you each step of the way. If you would like to discuss your allocation strategy and the accounting and tax implications of those holdings, please contact Alexander Reyes, partner and financial services industry practice leader, at areyes@ or James Catalano, partner, at jcatalano@ Citrin Cooperman is one of the nation's largest professional services firms. Since 1979, we've steadily built our business by helping middle market companies and high net worth individuals find practical, actionable solutions to help them meet their short-term needs and long-term objectives. Our clients span a diverse array of industry and business sectors and find sustainable growth through utilizing our menu of comprehensive personal and professional services. Citrin Cooperman & Company, LLP, a licensed independent CPA firm that provides attest services and Citrin Cooperman Advisors LLC, which provides business advisory and non-attest services, operate as an alternative practice structure in accordance with the AICPA's Code of Professional Conduct and applicable law, regulations, and professional standards. For more information, please visit "Citrin Cooperman" is the brand under which Citrin Cooperman & Company, LLP, a licensed independent CPA firm, and Citrin Cooperman Advisors LLC serve clients' business needs. The two firms operate as separate legal entities in an alternative practice structure. The entities of Citrin Cooperman & Company, LLP and Citrin Cooperman Advisors LLC are independent member firms of the Moore North America, Inc. (MNA) Association, which is itself a regional member of Moore Global Network Limited (MGNL). All the firms associated with MNA are independently owned and managed entities. Their membership in, or association with, MNA should not be construed as constituting or implying any partnership between them.

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