Nigeria, Mexico, Indonesia and Turkey billed the world’s next economic giants by Goldman Sachs Economist, Jim O’Neill

Jim O’Neill, the Goldman Sachs economist who coined the now famous acronym BRIC (Brazil, Russia, India & China) in his 2001 Goldman Sachs report “The World needs better Economic BRICs” has coined a new term to describe the world’s next economic giants – Mexico, Indonesia, Nigeria & Turkey (MINT). According to him, the MINT could become the new name on people’s lips, and further overturn the old world order.  O’Neill is particularly  bullish on Nigeria;  a nation of young, vibrant, natural entrepreneurs despite its history of corruption, crime, and mismanagement.

In a new column for Bloomberg View, O’Neill wrote on the MINT economies as a potential new investment destination for global investors:

I spent last week in Indonesia, working on a series for BBC Radio about four of the world’s most populous non-BRIC emerging economies. The BRIC countries — Brazil, Russia, India and China — are already closely watched. The group I’m studying for this project — let’s call them the MINT economies — deserve no less attention. Mexico, Indonesia, Nigeria and Turkey all have very favorable demographics for at least the next 20 years, and their economic prospects are interesting.

Health Benefits of Lime

The health benefits of lime include weight loss, skin care, good digestion, relief from constipation, eye care, and treatment of scurvy, piles, peptic ulcer, respiratory disorders, gout, gums, urinary disorders, etc.

The first fruit that comes to our minds when it comes to medicinal uses is perhaps the good old lime. This sour citrus fruit can do what many specialist medicines cannot. Lime, bearing the scientific name Citrus Aurantifolia, is being used for ages for treatment of various ailments.

Lime is consumed throughout the world in sorbets, beverages, refreshing drinks, pickles, jams, jellies, snacks, candies, sugar boiled confectionaries and culinary and the oil extracted from its peel or skin is extensively used in soft drink concentrates, body oils, cosmetics, hair oils, tooth pastes, toilet and beauty soaps, disinfectants, mouth washes, deodorants and innumerable other products. There are many varieties of lime found all over the world, particularly in the tropical and the Mediterranean climates.

Let us have a glance over the benefits and medicinal uses of lime.

Scurvy: Lime is so famous as a cure for scurvy, the disease which is caused due to deficiency of vitamin-C and characterized by frequent infections with cough and cold; cracked lips and lip corners; ulcers in tongue and mouth; spongy, swollen and bleeding gums etc. that now a days even a child can tell you that. Since its cause is deficiency of vitamin-C, its remedy is none other than vitamin-C, and lime is blessed with this vitamin. In olden days, soldiers and sailors were given lime to keep safe from scurvy, which was a dreaded disease then. Even now, it is distributed among the workers working in polluting environments like those working in furnaces, painting shops, heat treatments, cement factories, mines etc. to protect them from scurvy.

Skin Care: Lime juice and its oil are very beneficial for skin when consumed orally or applied externally. It rejuvenates the skin, keeps it shining, protects it from infections and reduces body odor due to presence of a large amount of vitamin-C and Flavonoids, both of which are class-1 anti oxidants, anti biotic and disinfectants. When applied externally on skin, its acids scrub out the dead cells, cures dandruff, rashes, bruises etc. and gives you a refreshing bath if its juice or oil is mixed into your bathing water.

Digestion: Lime has an irresistible scent which waters the mouth and thus aid primary digestion (the digestive saliva floods your mouth even before you taste it). Then the acids in it do the rest. While they break down of the macro molecules of the food, the Flavonoids, the compounds found in the fragrant oils extracted from lime, stimulate the digestive system and increase secretion of digestive juices, bile and acids and also stimulate the peristaltic motion. This is the reason behind having lemon pickle with lunch and dinner is an age old practice in India and some of its neighboring countries.

Constipation: Primarily, the ample of acids present in lime helps clear the excretory system by washing and cleaning off the tracts, just like some acids are used to clean floor and toilets. Then the roughage in it is also helpful in easing constipation. But it is mainly due to high acids. An overdose of lime juice with salt also acts as an excellent purgative without any side effects, thereby giving relief in constipation.

Peptic Ulcer: In addition to vitamin-C, lime contains special compounds called Flavonoids (Limonoids such as Limonin Glucoside) which have anti oxidant, anti carcinogenic, anti biotic and detoxifying properties which help healing of peptic and oral ulcers.

Respiratory Disorders: The oil, containing Flavonoids and certain oils, extracted from lime is extensively used in anti congestive medicines such as balms, vaporizers, inhalers etc. due to presence of Kaempferol. Just scratching the peel of a lime and inhaling it gives immediate relief in congestion and nausea.

Eye Care: Vitamin-C again! Its anti oxidant properties protect eyes from aging and macular degeneration. Flavonoids help protect them from infections.

Gout: There are two main causes of Gout. While the first reason is accumulation of free radicals in the body; the second is accumulation of toxins, primarily uric acid. Now, limes can help you with both of these. It is a reservoir of anti oxidants & detoxifiers (vitamin-C & Flavonoids) which free radicals as well as detoxify the body.

Gums: The root causes of gum problems are deficiency of vitamin-C (Scurvy, which gives bleeding and spongy gums) and microbial growth. Sometimes, the ulcers and wounds from bones, hard objects etc. are also the causes. In all of these, limes can help you. Its vitamin-C cures scurvy, Flavonoids inhibit microbial growth and potassium and Flavonoids help heal ulcers and wounds.

Piles: Since lime helps heal up ulcers and wounds in the digestive system and excretory system and gives relief from constipation too, it eradicates all the root causes of piles.

Weight Loss: A glass of warm water with a full-lime juice in it is an excellent weight reducer as well as a brilliant refresher and anti oxidant drink. The citric acid present in lime is an excellent fat burner. Just have two glasses a day and see the remarkable result within a week.

Urinary Disorders: The high potassium content of limes is very effective in removal of the toxic substances and the precipitates deposited in kidneys, urinary bladder and its disinfectant properties help cure infections in the urinary system. It also stops prostrate growth (very common in males above 40) and clears blockage of urine due to deposition of calcium in the urinary tract.

Other Benefits: It is a good appetizer and digestive. It helps cure arthritis, rheumatism, prostrate and colon cancer, cholera, arteriosclerosis, diabetes, fatigue, heart diseases and even very high fever (in contrary to popular belief). The best part of it is that it has no side effects.

Oprah Winfrey awarded highest civilian honour by President Obama

President Obama yesterday Nov. 20th presented talk show legend and media mogul Oprah Winfrey and 15 others with the Presidential Medal of Freedom, which is America's highest civilian honor. The award is given to individuals who have made "meritorious contributions to the security or national interests of the US, to world peace, or to cultural or other significant public or private endeavors.”

President Obama called Oprah "the pinnacle of the entertainment universe," as he put the medal on her neck. Former President Bill Clinton, country star Loretta Lynn, women's rights activist Gloria Steinem, baseball legend Ernie Banks and astronaut Sally Ride also received the award yesterday. 

Actress Nadia Buhari In Tears By Her Boo Jim Iyke's

 Romantic Gesture For Her Birthday Trip Around The World [Photos]

Who knew that Nollywood actor Jim Iyke could be so romantic.They traveled round the world yesterday to mark the Ghanian actress – Nadia Buari’s birthday and they had so much fun.

They further had a private dinner and according to Jim Iyke, Nadia cried all through – tears of joy! According to the star's tweet, he organised a private dinner at an exclusive Spanish restaurant for his pretty girlfriend, Ghanaian actress Nadia Buhari. See his tweet and more pics below after the cut:

Nigerian businessman Tony Elumelu makes $123million in 3 weeks

According to Forbes Africa, former United Bank for Africa (UBA) Managing director, and chairman of Heirs Holdings, Tony Elumelu made $123million in just three weeks. Wow! Read below...

From Forbes

It’s just paper gains, but it counts. Nigerian banker Tony O. Elumelu has become at least $123 million richer between November 1 and November 21 as shares of Transcorp PLC, a Nigerian-Stock Exchange-listed conglomerate, surged 186% in that period.

Transnational Corporation Of Nigeria, usually referred to as Transcorp, is an emerging conglomerate holding investments in hotels, power and agriculture. On November 1, the company’s stock was trading at N1.87 ($0.01), and at the close of trading today (Thursday), the stock was trading at N5.35 ($5.35). According to an analyst who did not want to be quoted, there has been an unprecedented demand for Transcorp’s shares at the bourse on account of the company’s recent acquisition of the Ughelli Power plant, a strategic power generation company that the government recently sold in a privatization exercise.

Transcorp PLC, under Elumelu’s leadership, acquired the plant for $300 million. Transcorp officially took over the plant on November 1. Investors are scrambling for the stock in anticipation of the long-term impact the new acquisition will likely have on Transcorp’s financial results.

Elumelu began gobbling up shares in the company in April 2011 through his wholly-owned proprietary investment vehicle, Heirs Holdings. In September 2011, he was appointed chairman of the company, promising to diversify the company’s business interests and deliver value to shareholders – promises he seems to have delivered on. He currently owns over 5.7 billion shares of the company (5,745,890,693 to be exact, according to Transcorp’s latest corporate filings), held in his own name and via Heirs Holdings, equating to a 22.26% stake, making him the company’s largest individual shareholder. His shares in Transcorp alone are now valued at N30.7 billion or $188 million.  A representative for Elumelu could not be reached for comment at press time.

Elumelu made his fortune by acquiring a small, struggling Nigerian commercial bank and building it into the United Bank of Africa Group, a leading financial services institution with operations in several African countries as well as in New York and London. He stepped down as the bank’s CEO in 2010 to focus on investing in African businesses through his private investment vehicle, Heirs Holdings and to groom Africa’s next generation of business leaders through his Tony Elumelu Foundation.

The Latest Billionaire In Town! Abdusalam Rabiu Joins The Billionaires Club

Forbes Africa has named 53-year old Abdulsamad Rabiu of the BUA Group as the latest African billionaire in its November 2013 issue.

Here’s an excerpt from the feature:

    “An investigation by FORBES AFRICA turned up a string of assets. The BUA Group has interests in key sectors similar to those of countryman, Aliko Dangote, Africa’s richest man. They include cement, sugar and flour. Through the group’s subsidiaries it does business in real estate, steel, port concessions, manufacturing, oil, gas and shipping.

    “The group also owns the ship BUA Cement 1, a 200-meter long vessel designed for heavy loads. It is Nigeria’s first floating terminal.

    “In addition to his assets in the BUA Group, Rabiu owns property in Britain, worth $62 million, and in South Africa, worth $19 million.

    “Among his properties is a house in Gloucester Square in London worth nearly $16 million and a penthouse at The One & Only Hotel, in Cape Town, worth $12.6 million.

    “Rabiu’s taste for good living is plain to see; he has bought homes from Eaton Square to Avenue Road, also known as Millionaires’ Row.

    “Rabiu jets around the world on an eight-seatre Gulfstream G550 worth $44.9 million, powered by a Rolls-Royce BR710 turbofan engine, as well as an $18-million Legacy 600 aircraft.

    “Abdulsamad was born in Kano to the family of renown business man, Ishyaku Rabiu. His father had made his fortune from trading in the years after Nigeria’s independence.

    “By the mid 70s, Abdulsamad’s father had become quite influential and he was a point man in the political scene. By 1983, the military coup which led to the arrest of President Shehu Shagari found Ishayku in incarceration as well.

    “During this period, Abdulsamad was away in the US getting his bachelor’s degree. He returned home at 24 to find his father’s business in dire straits. With little or no business experience, Abdulsamad had to take over the reins to restore his father’s now failing business empire.”

As he said to Forbes Africa

    “It was very difficult. When we started, our dad was not there. There was this huge vacuum, because of his personality. He grew the business, he did everything, everybody reported to him, and then he wasn’t there anymore.

    “So at a very tender age, I was saddled with so many things; I had to make a lot of important decisions, and don’t forget that this happened suddenly, at the time, there were three ships being discharged, rice and sugar ships. The government agencies tried to seize the goods; so we were discharging, they were taking, we were taking back. It was a big, big issue. Those kinds of things were really challenging.”

The story of this man is very interesting. He worked his way to transforming his millions into billions. It was a series of radical decision after radical decision that has given rise to the empire that Abdulsamad has built today.

According to him

    “The biggest challenge was that there were restrictions on confirming letters of credit because of the coup. Then there was the issue of the planes; there were two private jets and we didn’t know what to do with them. We couldn’t fly them. They actually grounded the jets. We were able to get the big one out and we decided we didn’t need it. I just got rid of it. [My father] was in detention, so who was going to be flying a private jet at that time with the major-general Muhammadu Buhari around. They grounded the small plane for two years but it was released after [my father] was released from detention.” 

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I am a Lawyer, so don't threaten me

Apple Buys Chinedu Echeruo’sHopStop.com For A $1 Billion

Apple has acquired Chinedu Echeruo’s HopStop.com, The Wall Street Journal’s publication, AllThingsDigital reports. Founded in 2005, HopStop.com makes mobile applications for both iOS and Android that covers over 300 cities and that helps people get directions or find nearby subway stations and bus stops. Terms of the deal have not been disclosed as at the time of this publication.

HopStop has oft been compared to Israel’s Waze which was recently acquired by Google for $1 billion. The move is seen as Apple’s plan to bolster its map offering especially given Google’s recent acquisition of Waze.

A serial entrepreneur, Chinedu Echeruo grew up in Eastern Nigeria and attended Kings College, Lagos. He attended Syracuse University and the Harvard Business School in the United States and founded HopStop.com after working for several years in the Mergers & Acquisitions and Leveraged Finance groups of J.P Morgan Chase where he was involved in a broad range of M&A, Financing and Private Equity transactions. He also worked at AM Investment Partners, a $500 million volatility-driven convertible bond arbitrage hedge fund.

He founded and raised nearly $8 million for his two U.S based internet companies; Hopstop.com andTripology.com. Tripology.com was acquired in 2010 by American travel and navigation information company, Rand McNally. He was named Black Enterprise Magazine’s Small Business Innovator of the year and listed in the magazine’s Top 40 under 40 and is currently a partner and head of the Principal Investing group at Constant Capital, a West Africa based investment bank.

True to form, Echeruo is working on yet another venture but this time, focused on small businesses in Africa. Check out a video of Chinedu Echeruo below at last year’s TedxIkoyi where he talks about his latest project for small businesses in Africa; “crowd sourced business in a box.”

According to him:

“There is no reason why every entrepreneur should have to reinvent the wheel every single time in all the countries in Africa. My idea is to essentially to have one place where a budding entrepreneur can access a template for starting a business, and then customize it to suit their own situation. Essentially a business-in-a-box.”

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