A key group of WTO ambassadors has proposed Ngozi Okonjo-Iweala to lead the World Trade Organization, trade sources told Reuters on Wednesday, clearing a path for her to become the first woman and African to head the global watchdog in its 25-year history. The proposal, which still needs full WTO approval, caps a more than […]
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 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 […]
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 […]
By Foster Obi National Action Committee on the African Continental Free Trade Area (AfCFTA) recently held a virtual workshop on Agriculture and Agribusiness. The workshop brought together notable professionals in the agricultural sector to discuss sustainable solutions to the challenges of food security and trade in Nigeria and Africa. AfCFTA was created to expand intra-African […]
By Foster Obi National Action Committee on the African Continental Free Trade Area (AfCFTA) recently held a virtual workshop on Agriculture and Agribusiness. The workshop brought together notable professionals in the agricultural sector to discuss sustainable solutions to the challenges of food security and trade in Nigeria and Africa. AfCFTA was created to expand intra-African […]
Sub-saharan Africa faces a huge challenge, made worse by the coronavirus pandemic, to find nearly $900 billion to repay massive debt and fund essential public spending, the International Monetary Fund (IMF) warned Thursday. In a special report, the IMF said the region would require some $890 billion in external financing — equal to 55 percent […]