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Chinas TikTok passes 1bn global downloads
Short video app is first Chinese social media phenomenon to go global
4 2019 | Viewed: 31 | News / Theme of day | Read full
Two Sessions highlight 'key year' to reaching centenary goal
Gao Aiping finally got his washing machine fully functioning as it was supposed to, as he and his family have moved into a new home with running water
4 2019 | Viewed: 26 | News / Review of Mass Media | Read full
China gains the upper hand over Germany
Berlin is paying for its political choices on public sector debt reduction
4 2019 | Viewed: 24 | News / Review of Mass Media | Read full
AT&T plans to revamp CNNs digital arm: WSJ
John Stankey, the AT&T executive at the helm of WarnerMedia, is planning to revamp cable news network CNNs digital operation, believing it isnt reaching its potential and requires more investment, the Wall Street Journal reported on Sunday
4 2019 | Viewed: 35 | Foreign experience | Read full
China bureaucrats tighten belts before annual Congress
Order to cut budgets by 5% and government restructuring fuel civil service angst
4 2019 | Viewed: 21 | Foreign experience | Read full
US economic growth loses steam in fourth quarter
Gross domestic product rises at annualised rate of 2.6% for final three months of 2018
1 2019 | Viewed: 28 | Analytics | Read full
Official: Financial risk control top priority
Maintaining financial stability has never left Chinese macroeconomic officials' agenda and "grey rhino" style financial risks are rising in some areas, including local government debt, bond markets and overpriced housing, a senior official warned on Thursday
1 2019 | Viewed: 21 | Foreign experience | Read full
Fed's Powell: 'Muted' inflation gives room for wages to rise
A rise in productivity last year gives more room for wages to grow without the risk of higher inflation, Federal Reserve Chairman Jerome Powell said on Thursday, offering another reason why the U.S. central bank can hold off on further rate increases
1 2019 | Viewed: 20 | Foreign experience | Read full
The EITI Board in Kyiv on 27-28 February determined the EITI status of Ethiopia, Ghana, Guinea, Malawi, Mauritania, Nigeria, Norway and Trinidad and Tobago.
EITI chair Fredrik Reinfeldt commented, "over half of all EITI countries have now undergone Validation against the EITI Standard, and the overall travel of direction is positive. Governments, companies and civil society across regions are demonstrating strong commitment to bringing transparency and accountability to the management of their natural resources and using EITI data to instigate reforms. Validation has shown that many EITI countries are going beyond the EITI Standard, with innovative disclosures related to extractives contracts, licensing and sales of the states share of oil, gas and minerals."

Ethiopia, Guinea, Malawi, Mauritania and Trinidad and Tobago achieved meaningful progress against the EITI Standard. Nigeria and Norway have achieved the highest level of transparency against the EITI Standard.


Ethiopia
The Board decided that Ethiopia has made meaningful progress in implementing the EITI Standard. The Board welcomed Ethiopias effort to report on issues of national importance such as artisanal and small-scale mining and socio-environmental issues. The Board commended ongoing reforms to shift the mandate of government agencies from control and monitoring to supporting and enabling civil society to contribute in public debate. Going forward, the EITI can play a key role in improving the relationship between companies and affected local communities.
 
Ghana
Ghana was found to have made meaningful progress and fully addressed six out of eight corrective actions. Ghanas implementation of EITI recommendations contributed to reforms that have increased the governments revenues from the sector, a priority for the government that wants to decrease its reliance on foreign aid. The country was lauded for publishing all of its mining, oil and gas contracts and making these accessible through online portals.
Guinea
Guinea, which has a rapidly developing bauxite sector and is rich in iron ore reserves, has achieved meaningful progress against the EITI Standard. The Board outlined eight corrective actions including disclosing more information on infrastructure agreements, direct subnational payments and quasi-fiscal expenditures.

Malawi
Malawi has achieved meaningful progress against the EITI Standard. The country has significant deposits of bauxite, coal, limestone, phosphate and uranium. The extractive sector is still in development, with few large-scale mining operations. To ensure terms of operations are accessible to the public, all contracts have been published. EITI implementation has provided citizens with the first comprehensive and public assessment of revenues and management of the oil, gas and mining sectors.  

Mauritania
Several large oil and gas projects are being developed in Mauritania, a leading producer of iron ore. The country has achieved meaningful progress against the EITI Standard, having made improvements in the oversight of EITI implementation by the government, industry and civil society. The Board recognised Mauritanias efforts in using EITI reporting as a diagnostic tool to drive reforms in the management of extractives licences and state participation in the mining sector.

Nigeria
Nigeria has used the EITI to reform its extractive industries and build accountability, achieving the highest level against the EITI Standard. Over 15 years of implementing the EITI, the Nigeria EITI (NEITI) has become an independent watchdog that holds stakeholders in the crucial hydrocarbons sector and more recently solid minerals sector to account. Since 2017, NEITI has disclosed key data on its allocation of licenses, on the administration of oil and gas subnational transfers and on crude sales and other processes within the Nigerian National Petroleum Corporation (NNPC).
The NEITI reports form the basis for reforms in the oil, gas and mining industry, as was laid out in President Muhammadu Buharis 2015 political campaign manifesto, said Zainab Shamsuna Ahmed, Nigeria federal minister of finance and an EITI Board member. Inspired by the EITI, the Nigerian government now conducts monthly routine reconciliations for all sectors, not just the extractives, which has increased government revenues.

Norway
Norway has supported the EITI since its inception and is a widely lauded as a success story in the management of oil wealth. It was the first OECD country to implement the EITI, publishing eight EITI Reports from 2008 to 2015. In 2017, Norway was the first country to mainstream EITI implementation. Timely, comprehensive and reliable information is published through the governments Norwegian Petroleum website and in companies country-by-country reports.

Trinidad and Tobago
Trinidad and Tobago has achieved meaningful progress against the EITI Standard and was acknowledged for having built a dynamic platform to collect, publish, and debate information about how the countrys natural resources are managed. EITI Reports have identified gaps in revenue collection, production and cost monitoring and cadastre information.

28 2019 | Viewed: 616 | Press Releases | Read full
EITI Board approves Argentinas application to join the Extractive Industries Transparency Initiative
Government to use EITI to promote transparent and accountable management of natural resources

KYIV, 27 Feb., 2019 The EITI Board today approved Argentinas application to join the Extractive Industries Transparency Initiative (EITI) at its meeting in Kyiv, Ukraine. Argentina, the third-largest economy in Latin America, becomes the EITIs 52nd member country. The EITI is the global standard for the good governance of oil, gas and mineral resources.

I congratulate Argentina on becoming a member of the EITI family, said EITI Chair Fredrik Reinfeldt. The country has large shale gas reserves and the implementation of the EITI can help Argentina manage these resources to the highest standards. We look forward to working with stakeholders across the country to promote the sound governance of the extractives sector, as well as inform public debate and meaningful reforms.

By joining the EITI, Argentinas government commits itself to assuring full disclosure of information along its extractive industry value chain, from how extraction rights are awarded, to how revenues make their way through the government and how they benefit the public. The government also pledges to work together with industry and civil society to ensure an informed debate about how its natural resources are being managed. In accordance with the EITI Standard, Argentina is required to publish its first EITI Report within 18 months of becoming a candidate, i.e. by 27 August 2020.

Argentina has great potential both in oil and gas, and in mining, said Argentinas Secretary of Energy Gustavo Lopetegui. The acceptance of our country as a member of the EITI is an important milestone. It commits us all - companies, national government, provinces and civil society - to work together for a more transparent industry that can be accountable to all Argentines.
Argentina has the worlds second-largest shale gas reserves and the fourth-largest unconventional oil reserves, according to the US Energy Information Administration. The country also has significant mining activity and mineral reserves, including copper, silver, lithium and gold. The development of these reserves will require large and continued investments in the coming decades. Social and political conflict arising around large-scale mining and shale gas extraction sites represent a challenge that EITI implementation can help address through dialogue in the multi-stakeholder group.

The EITI is an opportunity and a challenge that will help strengthen the confidence and participation of companies and civil society, so that mining activity contributes to the balanced development of communities both in the present and in the future, said Secretary of Mining Carolina Sánchez.

Argentina applied for an adapted version of the EITI to take account of its federal structure. Each province owns and manages the natural resources in their territory. Argentina has therefore decided to implement the EITI in two phases. Phase one will involve the national government, the state-controlled oil and gas company, industry and civil society, while phase two is intended to include relevant provinces.

The five civil society organisations that are part of Argentinas multi-stakeholder group Fundación Directorio Legislativo, Fundación Cambio Democrático, Universidad Católica Argentina, Universidad Nacional de San Martín and CIPPEC jointly stated that there is a need for the collection and dissemination of reliable data regarding the revenues generated by extractive activities and how they are distributed, as well as information related to socio-environmental issues in the extractives.
For more information about the EITI process in Argentina, please visit Argentinas country page.
28 2019 | Viewed: 556 | Press Releases | Read full
Fed to unveil balance sheet rundown plan fairly soon
Chairman Jay Powell tees up announcement as soon as March meeting
28 2019 | Viewed: 23 | Foreign experience | Read full
Chinese consumers: your country needs you
Consumption now accounts for over half Chinas economy, but spending is decreasing
28 2019 | Viewed: 23 | Analytics | Read full
Peak Car Poses a Mortal Threat to Germanys Most Important Industry
The switch to ride-hailing and electric vehicles challenges national champions BMW, Daimler, and Volkswagen.
28 2019 | Viewed: 20 | Analytics | Read full
Why a global manufacturing slump is a recurring threat
Chinas on-and-off efforts to curb lending spill over to the rest of the world
28 2019 | Viewed: 21 | Analytics | Read full
Chinas Factory Activity at Lowest Level in Three Years
It is the latest among many signs of persisting weakness in a slowing economy
28 2019 | Viewed: 18 | Analytics | Read full
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Interview with Sholpan Kozhamkulova

Sholpan Kozhamkulova
Sholpan Kozhamkulova, Ph.D., Assistant Professor, Chair, Department of Journalism and Mass Communication, KIMEP, Almaty

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