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    SEC warns against investing with GVEST Global’s illegal schemes

    SEC warns against investing with GVEST Global’s illegal schemes

    Only 23% of Nigerians trust INEC- Report says

    APGA candidates win Anambra by-elections

    US deficit grows to US$291 billion in July – Reports

    US deficit grows to US$291 billion in July – Reports

    Onitsha River Port receives first container barge for 2025 season

    Onitsha River Port receives first container barge for 2025 season

    JAMB sets 150 as cut-off mark for 2025/2026 university admissions

    WAEC releases 2025 WASSCE results, how to check yours

    President Buhari commissions the new US$100m Ultra-modern MMIA Terminal

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    Conoil Plc reports 88.8% drop in profit to N900 million in H1 2025

    Brent crude oil price rise above $70 on OPEC projections

    OPEC+ agrees to increase oil production for September

    Nigeria to concession Enugu, Port Harcourt and three other airports

    Federal Government approves 30-year concession for Enugu Airport

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    CBN’s Monetary Policy Committee retains interest rate at 27.50%

    President Tinubu approves establishment of South-East Investment Company

    President Tinubu approves establishment of South-East Investment Company

    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

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    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

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    • Economic Data
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    • Agriculture
    • Companies
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    Resolutions passed at Jaiz Bank’s 13th Annual General Meeting

    Resolutions passed at Jaiz Bank’s 13th Annual General Meeting

    UPDC REIT declare N0.16 dividend for 2022 Financial Year

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    Industrial & Medical Gases Nigeria Plc to issue share bonus to shareholders

    Oando completes Tranche one of its Share Distribution Programme

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    Beta Glass Plc Shareholders to be presented with a N1.04 dividend for 2020

    STANBIC IBTC ETF 30 announces ₦3.144 interim Dividend

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    SIAML Pension ETF 40 announces ₦12.44 interim Dividend

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    The Nigerian Exchange records impressive performance in H1 2025

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    Cryptocurrency: XRP hits new All-Time High at US$3.65

    NGX suspends trading in the shares of four listed companies

    Banking stocks plunge after CBN suspends banks under regulatory forbearance from paying dividends

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

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    Trump wins a resounding victory in first Republican primary in Iowa

    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

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    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

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    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

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China locks down its financial hub & economic capital, Shanghai

Monday, 28 March 2022, 6:21 pm
in News, World
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China locks down its financial hub & economic capital, Shanghai
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On Monday, Shanghai, China’s financial hub and economic capital went into lock down in two stages over nine days while authorities carry out Covid-19 testing.

The lockdown will be conducted in two phases. First, Shanghai’s Pudong financial district and nearby areas will be quarantined from Monday to Friday. Second, Pudong will pass the baton to the vast downtown area west of the Huangpu River, which will start its own five-day lockdown on Friday.

To control the growing outbreak, the lockdown will be accompanied by a new round of mass nucleic acid testing across the city, China’s Xinhua reported, citing Shanghai officials. Beijing recorded 3,500 cases of the infection on Sunday.

Read also; Delisting of Access Bank Plc and listing of Access Holdings Plc

Public transport, including ride-hailing services, in these areas will be suspended when they are locked down, the city government said on its official WeChat account, adding that unapproved vehicles will not be allowed on the roads.

It also said that all companies and factories will suspend manufacturing or work remotely during the lockdown, apart from those involved in offering public services or supplying food. Groceries will be delivered and left at checkpoints.

The city government published the instructions on its WeChat account, asking the public “to support, understand and cooperate with the city’s epidemic prevention and control work”.

Shanghai has battled a new COVID-19 surge for nearly a month and on Saturday it reported its highest daily number of cases since the initial outbreak in China receded. The city recorded 2,631 new asymptomatic cases, which accounted for nearly 60 percent of China’s total new asymptomatic cases that day, plus 47 new cases with symptoms.

While the number of cases in Shanghai remains modest by global standards, the city of 26 million people has become a testing ground for China’s “zero-COVID” strategy.

 In line with the policy, China’s authorities are free to use public health measures such as mass testing, contact tracing, and lockdowns in order to stop community transmission of the virus as soon as it is detected.

The goal is to get the area of an outbreak back to zero new infections and resume normal economic and social activities as soon as possible. The policy has been criticized by many, however, who argue that it takes too much of an economic toll.

Shanghai authorities have previously resisted a broad lockdown of the city to avoid destabilizing its economy and opted for a more bespoke “slicing and gridding” approach, which involves screening neighbourhoods one by one.

Some Shanghai residents have complained about the seemingly endless cycles of testing, suggesting that the cost of zero-Covid had become too high.

China reported a total of 4,448 new asymptomatic infections on March 26, up from 4,430 a day earlier, including 1,007 new cases in the northeastern province of Jilin, currently under lockdown.

The country reported 1,254 new confirmed cases with symptoms, down from 1,335 a day earlier. Of the new cases, 1,217 were locally transmitted, versus 1,280 a day earlier.

There were no deaths reported on March 26, leaving the death toll at 4,638. As of March 26, mainland China had confirmed 143,240 cases of COVID-19.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

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