The International Air Transport Association (IATA) presented new analysis showing that the airline industry cannot slash costs sufficiently to neutralize severe cash burn to avoid bankruptcies and preserve jobs in 2021. IATA reiterated its call for government relief measures to sustain airlines financially and avoid massive employment terminations. IATA also called for pre-flight COVID-19 testing […]
Pressured by another quarterly loss, Boeing announced Wednesday additional job cuts as it adapts to a prolonged downturn in the aviation industry. The planemaker, which has been in belt-tightening mode throughout 2020, plans to eliminate about 7,000 more jobs through the end of 2021. The headcount at that time will be around 130,000, down from […]
Former managing director of the World Bank, Dr Ngozi Okonjo-Iweala, has emerged as the first female Director-General of the World Trade Organization (WTO). Okonjo-Iweala emerged as the first African and the first female to attain the position of DG of WTO by defeating South Korea’s current trade Minister, Yoo Myung-hee, in a fierce battle for […]
By Foster Obi SIFAX Group said on Monday that the federal government has promised to support its effort as regards the acquisition of new bonded terminal in Ijora area of Lagos. A statement by the company said the new terminal is designed to solve traffic gridlock experienced around the Lagos port, adding that the new […]
By Foster Obi Maritime Workers’ Union of Nigeria (MWUN) has condemned the level of damage carried out on the Nigerian Ports Authority (NPA) headquarters building by hoodlums following the #EndSARS protest, which turned sour in most parts of the country last week. A statement by the union said the arson on the Authority’s headquarters was […]
By Foster Obi The Nigerian Communications Commission (NCC) said it has granted approval for two mobile network operators (MNOs) to carry out trial on National Roaming Service for a period of three months, commencing from August 1, 2020 and to end by October 31, 2020. A statement signed by signed by Dr. Ikechukwu Adinde, Director, […]
Oil bears at the upper hand at last week trading session cumulatively. The bears took hold of prevailing macros that continually disrupt the fragile energy market negatively amid rising cases of COVID-19 infections and partial restrictions cited in certain emerged markets. The American traded oil contract WTI futures closed at $39.85 per barrel. On W/W, […]
The International Civil Aviation Oganization (ICAO) Secretary General Dr. Fang Liu has restated the UN agency’s call for national governments to assure the sustainable funding of their civil aviation authorities (CAAs). Her appeal was made during her opening remarks to the latest virtual coordination meeting of ICAO European and North Atlantic (EUR/NAT) Region Directors General […]
BY CHIEF MIKE OZEKHOME, SAN. I just had, most humbly, the misfortune , of reading the 27 paragraph national broadcast by president Muhammadu Buhari. I had guffawed when many Nigerians awaited the speech with great expectations and bated animation, believing erroneously, that, like I had humbly advised president Buhari, he would roll out drums […]
Shares of ExxonMobil (NYSE:XOM) rose 5.1% on Thursday after the energy giant reaffirmed its long-term commitment to fossil fuel production, albeit with a more streamlined cost structure. CEO Darren Woods told Exxon’s employees to expect layoffs, as low oil prices continue to plague the industry. “These are difficult times,” Woods said. “We are making tough […]