Aviation: Tough times hits Etihad Airways as it confirms job cuts

Tough times hits Etihad Airways as it confirms job cuts Etihad Airways has confirmed plans to lay-off an unspecified number of employees as it grapples with what it termed, “an increasingly competitive landscape.” The Abu Dhabi-based carrier said in a statement this weekend that the layoffs will constitute “a measured reduction of headcount in some parts of the business.” According […]

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Africa: Ibru Family Dispute, Other Reasons Force Sun Int’l out of Nigeria

The dispute among members of the Ibru family over the ownership of Federal Palace Hotel in Victoria Island, Lagos, was one of the reasons cited by the South Africa’s hotel and gaming group, Sun International, for pulling out of Nigeria. Reuters reported monday that Sun International was the latest South African business to exit Nigeria because of weak economic growth […]

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Africa: How Saudi Arabia is destroying Nigerian economy through market subsidy

Last week, Saudi Aramco, the world’s largest oil exporter, lowered the pricing terms for its Arab Light sold to Asia. The development comes at a time refineries are dealing with falling margins and global oversupply of oil. Chineme Okafor in this report examines the impact of this development on Nigeria, a country already in serious economic downturn. Saudi Arabia’s state-owned […]

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Aviation: South African Airways Gets Another Bailout, SAA May Be Privatizing

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Cash-strapped South African Airways has been granted a $347 million bailout in addition to the $1.04 billion that taxpayers have already paid to keep the airline going, and it could be getting funding in the form of a strategic equity partner, Eyewitness News reported. The bailout comes with conditions that the airline cuts costs. SAA is expected to achieve financial […]

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Tourism: Iraq’s Biblical Garden of Eden named world Heritage site

A wetland in southeast Iraq, thought to be the biblical Garden of Eden and almost completely drained during Saddam Hussein’s rule, has become a UNESCO world heritage site, Iraqi authorities said on Sunday. Fed by the Tigris and Euphrates rivers, the marshlands of Mesopotamia are spawning grounds for Gulf fisheries and home to bird species such as the sacred ibis. […]

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Aviation: Ethiopian Airlines pondering on soon to come A350-1000 and Boeing 777X

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By Aaron Maasho, and Tim Hepher Ethiopian Airlines is weighing whether to expand its fleet with the 366-seat Airbus A350-1000 or the latest version of the 777 long-haul jet built by its traditional supplier Boeing, widely known as the 777X, its chief executive said. Tewolde GebreMariam was speaking to Reuters after taking delivery of the first of 14 A350-900 jets […]

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African News: Amnesty says Malawi albino killings reflect police failures

Amnesty International accused Malawian police on Tuesday of failing to protect people with albinism who are targeted for their body parts which are used in magical potions and other ritual practices. Police said they were doing all in their power to end the surge in the killing of albinos in the southern African country. Albinos have also been targeted in […]

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Kenya set to get $600 MLN from China to help fund 2015/16 deficit

Kenya will agree a $600 million loan from China to help fund a budget deficit in the fiscal year starting last July, a senior Treasury official said on Friday. East Africa’s top economy is targeting a budget deficit of 6.9 percent of GDP in the 2016/17 fiscal year (July-June), compared with a revised 8.1 percent this year, the ministry of […]

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U.S. Restricts Unofficial Military Travel To Ghana, 4 Other W. African Countries

By Dana Sanchez The Pentagon is stepping up vigilance in West Africa after 19 people died Sunday in an al Qaeda-claimed attack at Grand Bassam, an Ivory Coast beach resort. U.S. military personnel are restricted from traveling to five West African countries following recent militant attacks in the region, U.S. defense officials said Wednesday, according to a Reuters report. The […]

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S’African Retailer Exits Nigeria on Import Restrictions

South African retailer, Truworths has pulled out of its Nigerian business citing import restrictions, its chief executive said on Thursday. This, according to Reuters, could be a sign that President Muhammadu Buhari’s attempts to boost local industry are hurting foreign investment. As well as being unable to fill its shelves, the clothing retailer said it was struggling to pay its […]

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