The IEA Oil Market Report for April raised its forecast of 2015 global oil demand by 90 000 bpd to 93.6 million bpd, a gain of 1.1 million bpd on the year. The notable acceleration from 2014’s 0.7 million bpd growth builds on cold first quarter temperatures and a steadily improving global
Business
Some capital market operators are advocating the ploughing back of the nation’s N50 billion unclaimed dividends in the Nigerian bourse. The operators are seeking the approval of Securities and Exchange Commission (SEC) for this to happen. According to them, investing a fraction of unclaimed dividend in the market would assist in boosting liquidity. […]
The International Organization for Migration (IOM) says it has received a distress call from a sinking boat with 300 migrants in the Mediterranean. Some 20 people are reported dead, according to a IOM spokesman said. The caller said about three boats needed help in international waters. EU ministers are due to meet in Luxembourg […]
The Board of the Niger Delta Holding Company (NDPHC) on Friday in Abuja issued a directive for the forensic audit of the company’s account documents. Gov. Ibrahim Dankwambo of Gombe State made this known when he addressed State House correspondents on the outcome of the last meeting of the board under the current administration chaired […]
In this interview with KAYODE ADELOWOKAN, the Managing Director of Mikano International Ltd., Christine Farine, discloses that his company has achieved 40 percent local content in its products, with a target of 55 percent in the next five years. He also speaks on the various diversification projects of the company and raises hopes that many […]
Med-View Airline has acquired a Boeing 737-400 Classic aircraft as part of expansion plans to boost its operations. With the additional aircraft, Med-View fleet now grows to five Boeing aircraft. The current aircraft is configured for 150 passengers; business and economy classes. The Managing Director of the airline, Alhaji Muneer Bankole told journalists at the […]
The National Association of Aircraft Pilots and Engineers NAAPE has decried the absence of commitment to implementing various aviation action plans, particularly, the Aviation Road Map. In a congratulatory letter to the President elect Muhammadu Buhari, the president of NAAPE Engineer Isaac Balami called for the bringing into fruition the plan to re-establish a national
The National President of Air Transport Services Senior Staff Association (ATSSSAN), Comrade Benjamin Okewu, said that the union is not comfortable with the rate at which domestic airlines in the country are dying few years after commencing operations and posited that the Nigerian Civil Aviation Authority (NCAA) can curtail the negative trend. The matter according […]
In order to efficiently deliver on its mandate through available service platforms, the Bank of Industry (BoI) has re-engineered its processes and upgraded the institution’s banking application architecture. Specifically, the bank’s core banking application (CBA) known as Equinox has been upgraded to Rubikon, a software believed to hold more benefits for the bank and its
Hundreds of New York-bound passengers on Arik Air flight at the weekend protested at the Murtala Muhammed Airport, Lagos, over the failure of the airline to airlift them for two days. The aggrieved passengers invaded the tarmac of the airport, stopped the early morning Lagos- Accra passengers from boarding and protested in the open. However, the […]
Comrade Razaq Saidu, a one-time Secretary General of National Union of Air Transport Employees(NUATE) and a former member of the Civil Society Representative(Aviation) in MTSS, believes that one major task awaiting the incoming Administration of Gen Muhammadu Buhari, will be to re-engineer the transport sector by removing identified clogs in the wheel of the sector’s […]
Qatar Airways has responded to the continuous rise in passenger demand with an increase in the frequency of weekly flights to 10 of its most popular destinations throughout the Middle East and Europe. The airline, which currently flies to 146 destinations around the globe, will implement the frequency increases over the next few months for a […]
African Development Bank President Donald Kaberuka announced $300 million to support the national Post-Ebola Recovery program of Ebola-affected countries during the World Bank-IMF Spring Meetings in Washington. AfDB’s funding will provide support to Governments of Ebola-affected countries by investing in health, education, water and sanitation, agriculture and
Standard Bank launched two incubators on the 16 April 2015 with the aim to educate, create, empower and develop entrepreneurs. According to the company the new incubators are Standard Bank-owned brick-and-mortar facilities where entrepreneurs can test, develop, and deploy their innovations with personal guidance from the bank’s innovation and enterprise development
Nigeria air traffic controllers have announced the suspension of the indefinite strike that had grounded all domestic flights on Thursday but warned that a more severe shutdown would be launched next week if their demands were not met. Announcing the suspension of the industrial action on Friday, Yakubu Dati of the Federal Airports Authority of […]
African women in the maritime profession have rose from a two-day conference in Luanda, Angola and resolved to establish a Continental Maritime Women Federation (CMWF). This was contained in a communique by Mrs Jean Chiazor- Anishere, President of Women’s International Shipping and Trading Association (WISTA) Nigeria. The communique noted that Africa lacked a continental
The world’s third largest container line, CMA CGM has finalized orders for the largest container ships. The order came after posting a 43.2per cent jump in net profit in 2014 to $584million. In continued proof that scale is beneficial in mainline container shipping profit growth of 43.2per cent, last year far outstripped volume growth of […]
Nigerian Licensed Customs Agents (ANLCA), has urged the incoming government to give the association five per cent of the total revenues generated through customs. Its President, Prince Olayiwola Shittu, who made the plea in Lagos, said that freight forwarders should be compensated for their contributions to revenue generation. He added that government should consider
In pursuit of a new frontier for courier operation in the West African sub region, the courier operators under the aegis of Association of Nigeria Courier Operators (ANCO)Â has despatched a five-man delegation to Ghana to scout for new market opportunities. The Nigerian team and their Ghanaian counterpart in the courier/postal sector are neck deep in […]
After months of speculations and lengthy discussions between Paris and Helsinki, culminating in the tentative offer of April 14, Nokia and Alcatel-Lucent Wednesday announced it has finally sealed the deal to combine to create an innovation leader in next generation technology and services for an IP connected world. The two companies have entered into a memorandum […]
