(NYT) I.M.F. Makes China’s Renminbi One of World’s Select Currencies

HONG KONG — The International Monetary Fund on Monday approved the Chinese renminbi as one of the world’s main central bank reserve currencies, a major acknowledgement of the country’s rising financial and economic heft.

The I.M.F. decision will help pave the way for broader use of the renminbi in trade and finance, securing China’s standing as a global economic power. But it also introduces new uncertainty into China’s economy and financial system, as the country was forced to relax many currency controls to meet the I.M.F. requirements.

Inclusion of the renminbi in the I.M.F.’s elite reserve currency group was so important to China’s leaders that they named it in October as one of their highest economic policy priorities in the coming years. Credit Agence France-Presse — Getty Images

The changes could inject volatility into the Chinese economy, since large flows of money surge into the country and recede based on its prospects. This could make it difficult for China to maintain its record of strong, steady growth, especially at at a time when it economy is already slowing.

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(BBC) ‘Li-fi 100 times faster than wi-fi’

A new method of delivering data, which uses the visible spectrum rather than radio waves, has been tested in a working office.

Li-fi can deliver internet access 100 times faster than traditional wi-fi, offering speeds of up to 1Gbps (gigabit per second).

Light bulbs could offer a new way of delivering data

It requires a light source, such as a standard LED bulb, an internet connection and a photo detector.

It was tested this week by Estonian start-up Velmenni, in Tallinn.

Velmenni used a li-fi-enabled light bulb to transmit data at speeds of 1Gbps. Laboratory tests have shown theoretical speeds of up to 224Gbps.

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(NYT) False Alarms About a National Crime Wave in the U.S.

The headlines are alarming: Murder is up around the country, caused by anything from more guns to a heroin epidemic to the so-called “Ferguson Effect” — the disputed idea that police officers have become less aggressive out of fear that their actions will be recorded by civilians and criticized after the fact.

Jake Bacon/Arizona Daily Sun, via Associated Press

As with so many debates about crime in America, it helps to examine the actual numbers.

It is true that in many cities, murders in 2015 are on pace to surpass 2014 totals. In a new analysis of murder and crime rates in the country’s 30 largest cities, the Brennan Center for Justice projected that the average murder rate will be 11 percent higher this year than last. New York City, which had 333 murders in 2014, is predicted to have 357 murders by the end of 2015.

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(NYT) Influx of West Africans in the Bronx Spurs Demand for Interpreters

Conversations were still bubbling when Afua Atta-Mensah took the microphone and welcomed everybody to the African Community Town Hall, held in the basement of the Bronx Museum of the Arts this month.

“Ete sen?” Ms. Atta-Mesah, the program moderator, shouted in one of Ghana’s primary language groups, Twi. The crowd of 300 cheered. She had simply asked, “What’s up?”

Listening to a French translation at the African Community Town Hall this month. Credit Karsten Moran for The New York Times

According to a new report released last month by the United States Census Bureau, more than 192 languages are spoken in the New York metropolitan area, making the city the most linguistically diverse in the country. The rise in African languages significantly contributes to this panoply, and nowhere is that more apparent than in the Bronx. According to the Census Bureau, more than 16 African languages are spoken in the Bronx, a number that is quite likely far lower than what is actually spoken in homes in the borough, linguists say. In West Africa alone there are more than 800 languages

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(NYT) A Panic Button for the Phone

Samantha Nelson was only 32 when she died after a heart attack in 2010. Ms. Nelson, who had been on the phone with her mother and sister just a couple of hours before she died, had pledged to call back after she took a bath, but had not been heard from. Then the call came. Ms. Nelson was frantic; she had just awaked in a tub filled with scalding water with little clue as to how she got there.

Christoph Hitz

Ms. Nelson’s mother and sister urged her to call 911, but she wanted to call her husband first. He headed straight home, but when he arrived, she was already dead. Her next-door neighbor, an emergency medical technician, was home at the time.


Ms. Nelson’s brother, Michael, a neuroscientist in Brooklyn, has taken it upon himself to make an app to ensure that what happened to his sister happens to fewer people. On a phone screen, his app, iUDAME, is little more than a large gray button. When the button is pressed, the app can alert 911 as well as family members to the distressed user’s location. (Ayúdame is Spanish for “help me.”)

Liberia: Exxon Mobil to drill offshore in 2017

Exxon Mobil Corp said it plans to start drilling in Liberia in 2017, in what President Ellen Johnson Sirleaf said was a sign of economic recovery after the Ebola epidemic.

By Alphonso Toweh

The West African country produces no oil but has awarded a number of exploration blocs offshore, following the examples of Gulf of Guinea neighbours Ghana and Nigeria. 

Exxon Mobil intends to start drilling late 2017, Steven Buck, its country manager for Liberia and Ivory Coast, said. The U.S. oil major signed for bloc 13 in 2003 but put the project on hold due to the Ebola epidemic.

The worst known outbreak of the haemorrhagic fever killed 4,800 people in the country and deterred investors. Liberia was declared Ebola-free in September but Johnson Sirleaf has said it will take two years to regain its economic footing.

“I am very excited to see Exxon Mobil here,” she said on Thursday after a meeting with Buck. “Their presence demonstrates to the world that Liberia is once more on the move.”

The United States has lifted economic sanctions on Liberia that it had put in place against former president Charles Taylor, who is serving a 50-year sentence for atrocities committed in Sierra Leone during its civil war.

Read the original article on Theafricareport.com 

Resources for Entrepreneurs – free training, Please register ASAP starts on 11/20/2015 at 1pm EST

Follow us on Twitter: @GoAfricaNetworkblack business faces

In honor of Global Entrepreneurship Week 2015, IdEA is hosting an online resource training to share with entrepreneurs the rich resources that are available to them. Join us on Friday, November 20 at 1pm EST to learn more! Martin Ezemma and Jean-Robert Baguidy will join us from the Minority Business Development Agency to share what resources they offer entrepreneurs, and in particular their African Diaspora and Minority Business Enterprise Engagement activities. You will also hear from IdEA about our online mentoring group, and about other resources IdEA members have shared for entrepreneurs. Register for this FREE Webinar here.


sponsored by the 2015 International Diaspora Engagement Alliance,

Submit A Nomination the 2016 National Small Business Awards

Follow us on Twitter: @GoAfricaNetwork

National Small Business Week has been recognizing the special impact made by outstanding entrepreneurs and small business owners since 1963. During this week, the U.S. Small Business Administration honors small business owners and entrepreneurs for their outstanding achievements through various awards

Small Business Week Awards

National Small Business Week has been recognizing the special impact made by outstanding entrepreneurs and small business owners since 1963. During this week, the U.S. Small Business Administration honors small business owners and entrepreneurs for their outstanding achievements through various awards.

SBA is currently seeking nominations from the public for exceptional entrepreneurs. You can use this online portal to submit your nomination for the following awards:

  • Small Business Person of the Year Awards
  • Small Business Exporter of the Year
  • Phoenix Award for Small Business Disaster Recovery
  • Phoenix Award for Outstanding Contributions to Disaster Recovery
  • Federal Procurement Award- Small Business Prime Contractor of the Year Award
  • Federal Procurement Award- Small Business Subcontractor of the Year Award
  • Federal Procurement Award- Dwight D. Eisenhower Award for Excellence
  • 8(a) Graduate of the Year Award
  • Small Business Development Center Excellence and Innovation Award
  • Veterans Business Outreach Center Excellence in Service Award
  • Women’s Business Center of Excellence Award

To use the Small Business Week Nomination Portal, you will need to register for an account. Registration is required to protect your information from unauthorized access. This site complies with the Federal Information Security Management Act. For more information, visit http://www.sba.gov/about-sba-info/privacy-policy.

Read More at SBA 

Special announcement: Mr. Carl E. Heastie, Speaker of the New York State Assembly lends his office’s support for the African Union Expo 2015 on 11/17/2015

Carl E. Heastie is the first African American to serve as Speaker of the New York State Assembly, elected by his Assembly colleagues on February 3, 2015. 

In his first budget as Speaker, he worked closely with members of the Assembly Majority to develop a financial plan that made an historic $1.8 billion investment in the education of our students, addressed the homelessness crisis facing our communities and gave working families the resources they need to achieve financial independence. Speaker Heastie is committed to fighting for the reforms and investments that will strengthen our families and uplift all New Yorkers.

Speaker Heastie represents the 83rd A.D. in the northeast Bronx and was first elected to the Assembly in 2000. As a member of the Assembly, he has been one of the leading advocates for the construction of new schools and his vigilance has led to the development of several new schools in his district. In addition, he has secured significant funding for housing, education, after school programming, health and human services, jobs readiness and computer training for constituents.

Amongst his many legislative achievements, Speaker Heastie was a principal negotiator in securing an increase in the minimum wage that took effect January 1, 2014. He was also successful in negotiating increases in unemployment insurance benefits, which had been stagnant since 1998. He was the prime sponsor of the Wage Theft Prevention Act which provided stiffer penalties for employers that steal wages from employees.

Speaker Heastie scored a victory for public health when he championed the passage of a law that prohibited the sale of water containing nicotine to children under 18 years old. He also authored a law to help victims of domestic violence by releasing them from lease obligations if it is found that remaining in the residence would keep the victim in a dangerous environment.

Prior to joining the Assembly, Speaker Heastie served as a budget analyst in the New York City