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Musings From Abroad

Will Smith slaps Chris Rock on Oscars stage after ‘dirty’ joke on wife Jada Pinkett

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The Oscars which held on Sunday, produced one the biggest surprises of the night which saw veteran actor Will Smith, storming on to the stage and smacking the presenter, Chris Rock, in the face after the comedian had made a ‘dirty’ joke at the expense of Jada Pinkett, the actor’s wife.

Smith went on to win his first ever Academy Award for his role in King Richard.

For those who missed the drama, the ‘Oscar Slap’ began when Chris joked about Jada’s buzzcut by quipping: “Jada, can’t wait for GI Jane 2.”

The joke was clearly a reference to the 1997 movie G.I Jane which starred Demi Moore sporting a buzzcut similar to the haircut Jada is currently carrying.

However, Jada had previously spoken out about her decision to shave her head due to a medical condition known as alopecia.

“Mama’s gonna have to take it down to the scalp so nobody thinks she got brain surgery or something.

“Me and this alopecia are going to be friends … period!”Jada had written on Instagram in 2021.

Jada Pinkett

Jada Pinkett sporting a buzzcut due to medical condition

Obviously angered by the joke, Will walked up to the stage and slapped the presenter, before returning to his seat and yelling: “Keep my wife’s name out of your f****** mouth.”

Chris has previously joked about Jada in the past when hosting the Oscars in 2016, by saying:

“Jada Pinkett Smith boycotting the Oscars is like me boycotting Rihanna’s panties—I wasn’t invited!

“It’s not fair that Will was this good and didn’t get nominated. It’s also not fair that Will was paid $20 million for Wild Wild West!”

Musings From Abroad

UAE’s IRH to consider stake in Zambia’s Lubambe copper mine

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A division of the International Holding Company of Abu Dhabi, International Resources Holding (IRH), has announced that it plans to submit a proposal for a share in Zambia’s Lubambe Copper Mine.

 

The deal has opened up more potential to profit from Africa’s second-largest copper producer, according to IRH, which just acquired a 51% stake in Mopani Copper Mines in Zambia.

 

 

Even after Chinese firm JCHX Mining agreed to buy the stake, it was reported on March 22 quoting sources, indicating that IRH, a division of the most valuable company in Abu Dhabi, is interested in purchasing an 80% stake in Lubambe held by EMR Capital.

 

 

“IRH’s commitment (at Mopani), has opened doors for additional investment opportunities in Zambia, including an intention to bid for a stake in the Lubambe Copper Mine,” the company said.

 

Due to the company’s interest in Lubambe, which may be among Zambia’s biggest copper mines, a bidding battle between Shanghai-listed JCHX, a mine maintenance and contracting company, and itself may result.

 

Wealthy oil companies from Saudi Arabia and the United Arab Emirates have recently begun to follow China’s lead and engage in African businesses to acquire resources to diversify their economies and capitalize on the move to electric vehicles (EVs). In addition to making bids for mining projects, IRH stated that it was actively investigating a range of investment prospects.

 

“In the forthcoming years, our goal is to seek diversification opportunities beyond copper… (with) targeted investments in other pivotal energy transition minerals, such as cobalt, nickel, rare earth elements, manganese, graphite, and the 3T minerals – tin, tungsten, and tantalum,” it said.

 

The Zambian government currently plans to increase copper production from approximately 850,000 metric tonnes to 3 million metric tonnes annually by 2032.

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Musings From Abroad

China, Zambia’s major creditor, cooperating on debt rework— Official

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A spokesperson of Zambia’s foreign ministry has stated that one of its major creditors, China, has remained supportive of Zambia’s debt restructuring.

The diplomat did not, however, disclose whether China approved of a planned agreement the country in southern Africa made with foreign bondholders.

On Monday, Zambia and the bondholder group announced that they had come to a fresh understanding to restructure $3 billion in foreign notes. The proposal was given the go-ahead by Zambia’s formal creditors, the largest of which is China.

On Monday, Zambia announced that it has reached a deal with a group of private creditors on the restructuring of $3 billion of its foreign notes, which is a noteworthy achievement that brings the country closer to ending its lengthy debt restructuring.

Being the first nation in Africa to miss payments on its foreign debt during the Covid-19 outbreak, they have expressed a strong desire for the debt to be restructured. Unfortunately, the protracted delays in the process have strained the local financial systems, impeded desperately needed investments, and delayed economic progress.

Zambia defaulted more than three years ago and its debt rework process has hit many obstacles, including in November when the official creditors rejected a previous bond deal because it did not offer comparable debt relief to theirs.

“China, as co-chair of the Zambian Debt Committee, has made concerted efforts with all parties concerned to promote significant progress in the disposal of Zambia’s debt,” Lin Jian, a spokesperson for China’s Ministry of Foreign Affairs, said in a regular press conference.

“China will also continue to coordinate and cooperate with all parties concerned to steadily advance the work related to Zambia’s debt disposal,” he said when asked for China’s response to the latest bondholder deal.

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