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Monthly Archives: November 2015

Strategic report: To security agencies on arrival of President Buhari from overseas and situation in Kano

  Security agencies should prior to and on arrival of President Buhari from overseas to Nigeria strengthen security to cover the journey (route) he will embark to his destination i.e firstly, at Nnamdi Azikiwe International Airport and from the airport to the villa, (IMPORTANT). Security should still be strengthened in Kano, as the state is still flashing RED. NIGERIA SHALL ...

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Nigeria: Proverbial response to ‘Pull Him Down Forces’ against President Buhari

  (TRADE NEWSWIRE): This is my proverbial response to the Pull Him Down forces, i.e ‘local and foreing’ forces who never saw anything good in his Excellency, President Muhammadu Buhari/ his government and mischief makers who pretends to be constructive critics but are not, TRADE NEWSWIRE reports However, constructive criticism is (HIGHLY) welcomed to aid the government in her actions ...

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Strategic report: To President Muhammadu Buhari on security in Nigerian waters

Your Excellency sir, (TRADE NEWSWIRE): I humbly write to inform you that in months to come the level of insecurity in the Nigerian waters may likely increase tremendously, TRADE NEWSWIRE reports. Due to this, The Nigerian Navy needed to be equipped to face the envisaged challenges as earlier proposed in a report published on April 28, 2015, which was addressed ...

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Photos: Nigerian President Muhammadu Buhari in Malta for CHOGM 2015

  Photos: Nigerian President Muhammadu Buhari in Malta for CHOGM 2015                  

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Strategic report: Security alert on Lagos

(TRADE NEWSWIRE): Security agencies in the state should please brace up to avert attack(s) through likely use of explosive-related device(s) in Lagos state any time soon, TRADE NEWSWIRE reports. Beef-up your security search light across the entire state but in particular step-up your efforts in and around (ALLEN AVENUE / OPEBI axis) among other strategic places in the state. NIGERIA ...

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Toyota leads global car sales in October, outsells VW for fourth

TOKYO: Toyota Motor Corp outsold Volkswagen AG for the fourth straight month in October to remain the world’s top-selling automaker so far this year, after sales at the German carmaker suffered following the diesel emissions scandal. Toyota said on Friday its group vehicle sales totaled 8.35 million in the January-October period, more than the 8.26 million vehicles delivered by Volkswagen ...

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HSBC says to shut down India private banking business

MUMBAI: HSBC Holdings Plc is shutting its private banking unit in India, marking the exit of another foreign bank from the cut-throat wealth management business in Asia’s third-largest economy. “After a strategic review of the global private banking operations in India, we have decided to close the business,” an India spokesman said on Friday. “This marks further progress in the ...

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IATA expects seven billion global air passengers by 2034

GENEVA: Air passenger numbers worldwide are likely to reach seven billion per year within the next two decades, twice what they are now, IATA said on Thursday (Nov 26). The International Air Transport Association said this was 400 million fewer than forecast previously because of a global economic slowdown, notably in China. IATA said it now expects air passenger numbers ...

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Diabetic vision loss medication may promote return to driving

  After a year of treatment with the drug ranibizumab (Lucentis), some people with vision loss due to diabetes regain their confidence to drive and have vision good enough to do so, according to a new study. Seeing well enough to drive confidently is an important measure of independence, the authors write. Up to 45 percent of people in the ...

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Men may eat more when women are watching

If women are prone to “eat like a bird” when men are watching, men may be similarly programmed to “eat like a horse” when women are around, suggests a small U.S. study by behavioral scientists. Researchers observed diners at an all-you-can-eat Italian buffet and found men who dined with at least one woman at the table ate 93 percent more ...

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Emirates’ ‘worst ever passenger’ gets jail sentence

An airline passenger who drunkenly abused cabin crew on board an Emirates flight from Dubai to Birmingham has been jailed for 11 months by a British court, said a report. Branded the ‘worst passenger ever’, 46-year-old Jasbir Singh Bharaj, was found guilty of criminal damage, racially aggravated words and behaviour and common assault, the Daily Mail UK reported. Birmingham Crown ...

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DP World showcases innovation in logistics sector

Dubai-based global marine terminal operator DP World showcased its innovative approach to the ports and logistics industry to visitors at the global operator’s exhibition stand, which was part of the UAE’s first Innovation Week. In celebrating innovation in the country, the exhibition at Dubai Mall from November 22 to December 4, is in line with the directive of HH Sheikh ...

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Asia shares retreat, euro subdued on ECB stimulus bets

Asian shares fell and the dollar held near an eight-1/2-month peak on Friday, while the euro hovered around seven-month lows on expectations of additional stimulus from the European Central Bank next week. The broadest index of Asia-Pacific shares outside of Japan slid 0.5 per cent, extending losses for the week to 0.7 per cent. Japan’s Nikkei reversed earlier gains to ...

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Wearable tech to decode sign language

The communication barrier between deaf people who use sign language and those that don’t understand it may be coming to an end thanks to a new wearable technology being developed at Texas A&M University. The device incorporates a system of sensors that records the motion of hand gestures, as well as the electromyography or EMG signals produced by muscles in ...

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Saudi riyal devaluation talk ‘far-fetched’

Saudi Arabia has the tools available to protect itself as low oil prices push the current account and budget balances of the world’s top crude exporter deep into deficit, senior bankers in Saudi Arabia and the Gulf said. In private conversations with Reuters this week, the bankers – many of whom are in contact with Saudi authorities – said Riyadh ...

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Aramco to invest more in Indonesia’s oil and gas sector

Saudi Aramco is looking for further investment opportunities in Indonesia’s downstream refining and petrochemicals industry, the company’s CEO said on Thursday, after initiating a $5.5 billion project to upgrade the country’s largest refinery. The Saudi Aramco CEO’s comments are positive for Indonesian President Joko Widodo’s efforts to attract investment after a clean-up of the country’s oil and gas sector that ...

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Mideast/Africa vulnerable to downgrades: Fitch

Emerging markets face another wave of ratings downgrades next year, with the Africa/Middle East region potentially given a ‘negative outlook’ and Brazil at risk of a cut to junk, Fitch Ratings’ top sovereign analyst said in an interview. Depressed commodity prices combined with mediocre global growth and the approach of the first US interest rate rise in almost a decade ...

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Sea Salt Contaminated with Microplastics

Tiny plastic bits, collectively known as called microplastics, are showing up in bodies of water around the world, and are accumulating in aquatic creatures, including fish and shellfish. Now scientists, after testing a sampling of commercial products in China, have reported for the first time that they could be contaminating sea salt. Microplastics are defined as plastic particles smaller than ...

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Catamaran Incident: Vessel Driven “Too Hard”

The New Zealand Transport Accident Investigation Commission has released its report on the hull damage and flooding suffered by a whale watching vessel saying the vessel was taken into sea conditions it was not capable of managing and citing poor housekeeping and a lack of crew training as contributing factors to the incident. At about 1000 on Sunday February 23, ...

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Exploring the Future of Sail Power

Prior to the development of maritime steam power during the 19th century, wind powered ships carried the world’s trade. New developments in wind propulsion include airborne kite sails from Germany and the U.S. that fly several hundred meters above ocean surface to access winds that blow at much higher velocity, but there is more potential yet to be explored. Some ...

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China Holds First Joint Anti-Piracy Drill with NATO

Chinese naval forces involved in anti-piracy patrols in the Gulf of Aden have held their first joint drill with NATO ships carrying out the same mission, China’s Defense Ministry said on Friday, as China seeks a greater global security role. The exercise happened on Wednesday, the ministry said in a statement, showing pictures of Chinese and NATO officers chatting on ...

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It’s Official: Kitack Lim Confirmed as Secretary-General

In a symbolic act of transition and succession, IMO Secretary-General Koji Sekimizu handed over a comprehensive briefing paper on IMO’s recent achievements and ongoing objectives to Kitack Lim on Thursday. The IMO Assembly has unanimously endorsed the appointment of Kitack Lim (Republic of Korea) as the Secretary-General of the International Maritime Organization (IMO), with effect from 1 January 2016, for ...

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‘NYSC banned only ‘full-blown hijab’ not all types of Islamic veils’

(TRADE NEWSWIRE): It is noteworthy for the public to be well informed that the National Youth Service Corps ONLY banned full-blown hijab and not all other types of hijabs for female Muslim corpers at its Orientation Camps pending the time the fight against Boko Haram by the government would be won, TRADE NEWSWIRE reports. I think the media has the ...

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Canada: Disabled Ro-Ro Restarts Engines

A disabled ship that was drifting off the west coast of Haida Gwaii, British Columbia, Canada, is now out of danger. A spokesperson from the U.S. Coast Guard has confirmed to local media that the 250m (820-foot) ro-ro North Star has managed to restart its engines after fixing an electrical issue. The vessel lost power yesterday and was drifting 50 ...

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Crane Collapses in Ho Chi Minh Port

  A dock worker has died after a gantry crane collapsed on to a container ship during unloading operations at Ta Thuan port in Ho Chi Minh, Vietnam.Others have been trapped in the accident, and rescue teams are working to free them. The number of fatalities and injuries has yet to be confirmed. The crane may have been overloaded, and ...

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New Zealand: Greenpeace Activists Arrested

  Three Greenpeace protesters have now been arrested after 10 hours of hanging on the New Zealand research ship Tangaroa in strong winds. Siana Fitzjohn, Kailas Wild and Adrian Sanders were cheered by fellow Greenpeace members on the dock whilst being arrested by local police. One of the protesters was hanging from the gantry structure, one from a mast and the ...

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Iran to Complete Five LNG Plants in Three Years

Iran says that it is preparing to bring five LNG plants online within the next three years, including one facility that is already more than halfway completed – but its Minister of Petroleum warns that by that point, it may not have the extra gas to liquefy. National Iranian Gas Company (NIGC) CEO Hamidreza Araqi announced today that Iran LNG, ...

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BIMCO Launches Anti-Corruption Clause

BIMCO has launched an anti-corruption clause for charter parties that gives owners and charterers a contractual platform for cooperative action to resist demands for illegal payments from port officials and others. The clause can be used in any jurisdiction because it applies the anti-corruption laws applicable to each of the parties and the local law of the place where the ...

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Egypt Sets Date to Complete Suez Side Channel

Egypt plans to complete a side channel in East Port Said, near the Suez Canal, that would speed up shipping and allow ships direct entry into the port by the end of June 2016, Mohab Memish, head of the Suez Canal Authority, said on Wednesday. The new channel dredging will cost $36 million, of which $7.5 million will be financed ...

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Greek Shipowners “Too Big to Tax”

  On the day he took office as Greece’s shipping minister in June 2012, Kostis Moussouroulis received a visit from a 90-year-old shipowner. He still remembers the older man’s words: “Don’t forget, the best minister of shipping and maritime affairs is the minister who is doing nothing for the shipping industry. He is the one who is leaving us alone.”That’s ...

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Sweden Considers Rigs and Cruise Ships for Refugees

The Swedish Migration Board is running out of refugee housing on land, and is considering seaborne sources of shelter: cruise ships and offshore facilities. The board’s accommodations manager, Willis Åberg, told Swedish media that he expects several thousand beds from the cruise ship plan, with vessels of 200 to 1500 passenger capacity moored in large Swedish cities. Harbors could include ...

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Buhari, Osinbajo, Tinubu, governors, ministers see off HID

Amid overwhelming glamour on the ground and a bright sky above, the matriarch of the Awolowo dynasty, Chief Hannah Idowu Dideolu(HID), yesterday made her glorious and final exit. The remains of the late Mrs. Awolowo, who passed on last September 19 at 99, were interred beside her husband Chief Jeremiah Obafemi Awolowo’s, inside the 28 years old Awo Mausoleum within ...

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China police cracks US$4.5 billion underground bank: Xinhua

BEIJING: Chinese police have busted an underground banking network that handled US$4.5 billion worth of illegal transactions at Agricultural Bank of China Ltd (AgBank) alone, the official Xinhua News Agency reported on Wednesday. Fourteen suspects in four gangs were arrested by police in the northeastern city of Dalian in Liaoning province, Xinhua said, the latest crackdown in the country’s fight ...

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Security fears high as Pope embarks on landmark Africa trip

  VATICAN CITY: Pope Francis flew out of Rome on Wednesday (Nov 25), bound for Kenya on the first leg of a landmark trip to Africa fraught with security concerns. The 78-year-old pontiff, the third pope to visit the continent, is also scheduled to visit Uganda and the troubled Central African Republic (CAR) on a six-day trip. The CAR leg ...

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Turkey seeks to ease tensions after downing of Russian warplane

ISTANBUL: President Recep Tayyip Erdogan sought to play down tensions with Russia Wednesday after Turkey’s downing of a Russian warplane on the Syria border sparked fears among NATO allies of a wider conflict. Moscow said Russian and Syrian special forces had rescued one of the pilots who ejected from the plane after being shot down early Tuesday but confirmed another ...

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US waging economic war on Islamic State

Since last month, US warplanes have struck Islamic State’s oil infrastructure in Syria in a stepped-up campaign of economic warfare that the United States estimates has cut the group’s black-market earnings from oil by about a third. In finding their targets, US military planners have relied in part on an unconventional source of intelligence: access to banking records that provide ...

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CB&I wins $2.8bn Oman chemical plant contract

Energy infrastructure group Chicago Bridge & Iron Company (CB&I) said its joint venture with Taiwanese group CTCI Corporation has won a $2.8 billion contract from Oman Oil Refineries and Petroleum Industries Company (Orpic) to provide engineering, procurement and construction (EPC) services for its plastics industrial complex project in the sultanate. With 125 years of experience and the expertise of 54,000 ...

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Opec to stay the course despite fears of $20 oil

Opec is determined to keep pumping oil vigorously despite the resulting financial strain even on the policy’s chief architect, Saudi Arabia, alarming weaker members who fear prices may slump further towards $20. Any policy U-turn would be possible only if large producers outside the exporters’ group, notably Russia, were to join coordinated output cuts. While Moscow may consult Opec oil ...

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TSA Recommends Container Rate Hike

Member shipping lines in the Transpacific Stabilization Agreement (TSA) have announced an increase in rate and fee guidelines for 2016-17 service contracts which are intended to ensure price and service stability, TSA says. TSA lines are recommending increases in minimum rates across the board, to $950 per 40 foot equivalent unit (FEU) to the U.S. West Coast and $1700 per ...

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Rotterdam Longshore Strike Planned for December

Container workers at the Port of Rotterdam have voted to hold a series of 24-hour strikes in December and January in protest at possible job cuts, threatening to freeze the movement of goods through Europe’s largest port. Niek Stam, leader of the FNV Havens union, said in a statement members of the union had voted in favour of the strikes ...

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Ballast Water Management Convention So Close…

Indonesia signed the IMO Ballast Water Management Convention on November 24, one day after Morocco also signed. Finland is expected to sign this week too, and it is unclear yet whether Finland’s ratification will be needed to meet the convention’s tonnage requirements or whether Indonesia’s is sufficient. The convention will come into force 12 months after the date on which ...

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Philippines Presents Maritime Claims at the Hague

In a tribunal at the Permanent Court of Arbitration in the Hague on Tuesday, a delegation of nearly 50 lawyers and representatives for the Philippines gathered to present their case for territorial claims and usage rights in the South China Sea. The Philippine claims contest China’s assertion that it has sovereignty over waters surrounding its island construction projects in the ...

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Drifting Cargo Vessel Now Under Tow

The Barbados registered cargo vessel Skog, which was drifting off Orkney in the U.K. due to engine problems, is now under towed. The vessel had suffered engine failure due to a cooling water problem and was taking on water in the engine room at a rate of 500 liters per hour. It had emergency power but no propulsion. After the ...

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Offshore Wind: New Installation Technique Tested

New methods of constructing wind farms at sea are playing a major role in reducing costs and shortening building times. One of the latest, a new vibratory technique, has been tested on land and shown to be up to 10 times faster and to generate lower peak noise emissions. RWE Innogy, Bilfinger Offshore, DONG Energy, EnBW, E.ON and Vattenfall joined ...

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Biodegradable Plastic Doesn’t Degrade in the Sea

Widespread adoption of products labelled “biodegradable” will not significantly decrease the volume of plastic entering the ocean or the physical and chemical risks that plastics pose to marine environment, concluded a U.N. report released this week. The report Biodegradable Plastics and Marine Litter. Misconceptions, Concerns and Impacts on Marine Environments finds that complete biodegradation of plastics occurs in conditions that ...

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Rolls-Royce Considers Sale of Marine Division

Last week, engine maker Rolls-Royce issued its fifth profit warning in two years and warned shareholders of a dividend cut. The string of losses ends a long, steady history of profitability, and the company has announced some 3,600 job cuts as part of a restructuring program, including significant cuts to its 2,000-member payroll of senior engineering managers. Shares in Rolls ...

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Big Lift for Aasta Hansteen Platform

  Construction of the platform for Statoil’s Aasta Hansteen field development is underway in South Korea, and on November 19 the first of four mega modules, weighing 2,200 tons and measuring 50x20x25 meters, was lifted into place at Hyundai Heavy Industries using the yard’s new crane barge with a capacity of 10,000 tons. The Aasta Hansteen field development includes a ...

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How Business Leaders Can Participate in COP21

Business has a critical role to play in shaping a low-carbon future. This role starts with the private sector mobilizing around the COP21 negotiations, committing to climate action, and, in return, asking for a pragmatic and ambitious Paris climate agreement. COP21 holds many opportunities for business to demonstrate that it can “meet its moment” and help implement the Paris agreement ...

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OEMs win consumer vote to develop self-driving cars

While nearly 60 per cent of consumers in cities around the world are open to self-driving vehicles (SDVs), a significant number want traditional OEMs, rather than technology companies, to lead their development, a report said. Respondents in France, Germany, and Japan reported the highest levels of trust in traditional OEMs in the new survey by global management consulting firm Boston ...

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EVA Airways and Boeing sign Taiwan’s biggest ever plane deal

TAIPEI: Taiwan’s EVA Airways signed a deal on Tuesday worth more than US$6 billion for 26 Boeing jetliners, making it the island’s biggest ever single commercial plane purchase. The Taiwanese carrier will buy 18 787-10 Dreamliners – Boeing’s most recent model in its family of long-haul jets – and two 777-300ER (extended-range) aircraft. ADVERTISING The agreement also gives EVA Airways ...

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Japan rocket launches its first commercial satellite

TOKYO: A Japanese rocket lifted off on Tuesday (Nov 24) with the national space programme’s first commercial satellite as Tokyo tries to enter a business dominated by European and Russian companies. The Japan Aerospace Exploration Agency and Mitsubishi Heavy Industries oversaw the launch from Tanegashima Space Centre in southwest Japan. The launch of the H-IIA rocket was originally scheduled at ...

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Russian warplane shot down by Turkey

Turkish fighter jets shot down a Russian-made warplane near the Syrian border on Tuesday after repeatedly warning it over air space violations, Turkish officials said, but Moscow said it could prove the jet had not left Syrian air space. Turkish presidential sources said the warplane was a Russian-made SU-24. The Turkish military, which did not confirm the plane’s origin, said ...

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Somali Pirates Hijack Iranian Fishing Vessel

Somali pirates have hijacked an Iranian fishing vessel with 15 crew members, a Somali official and a maritime expert said on Monday amid warnings that piracy might be making a comeback in the Indian Ocean. Although there are still occasional cases of sea attacks, piracy near Somalia’s coast had largely subsided in the past three years, mainly due to shipping ...

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Charges Laid over 2012 Gulf of Mexico Explosion

Three companies and three individuals have been charged over the explosion on the West Delta 32 oil production platform in the Gulf of Mexico that occurred in 2012. Black Elk Energy Offshore Operations, Grand Isle Shipyards, Wood Group PSN, as well as Don Moss, 46, of Groves, Texas, Curtis Dantin, 50, of Cut-Off, Louisiana, and Christopher Srubar, 40, of Destrehan, ...

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Government Demands $161 Million from Sewol Operator

The South Korean government has filed a law suit against the operator of the ferry Sewol demanding it reimburse the government for the compensation given to the victims of the disaster. The 6,825 ton ferry sank off the South Korea’s southern coast in April 2014, killing 304 passengers, mostly school children on a field trip. Yonhap news service reports that ...

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Eastern Libya Bans Glencore Tankers

The eastern Libyan government’s half of state-owned oil company NOC may seek to physically prevent tankers of commodity company Glencore from loading oil purchased from the western half of the company. The proposed deal is said to allow Glencore to load the western NOC’s oil from the eastern port of Tobruk, which is under the control of the government in Benghazi. With ...

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MOL Adopts Thermal Imaging for Coal Safety

  Mitsui O.S.K. Lines has introduced a thermal imaging system commercialized by FLIR Systems Japan K.K. on MOL group-operated coal carriers. The system, which relies on infrared cameras, helps prevent spontaneous combustion of coal in the cargo hold. Coal can oxidize, generating heat during transport and cargo operations. This can result in fires in the cargo hold or at unloading ...

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New Safety Alert on Ultra Low Sulfur Fuel

  The U.S. Coast Guard has issued Marine Safety Alert 13-15 to update Marine Safety Alert 2-15 after receiving reports that main engines may not attain the expected speed when using ultra low sulfur fuel oil. The new safety alert adds two additional recommendations, highlighted below, regarding the use of ultra low sulfur fuel. The U.S. Coast Guard strongly recommends ...

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China Ratifies the Maritime Labor Convention

China has ratified the Maritime Labor Convention, becoming the 68th International Labor Organization member state to do so. As the fourth pillar of the international maritime legal regime, complementing the key conventions of the IMO, the Maritime Labor Convention (MLC) has placed decent working and living conditions of seafarers and fair competition for shipowners at the forefront of maritime affairs. ...

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Greenpeace Activists Board Oil Exploration Vessel

Greenpeace activists in New Zealand have boarded a government research ship after discovering it has been exploring for oil. The research boat Tangaroa has recently been refitted for oil and gas exploration and has been searching for deep sea oil reserves off the East Coast of the North Island on behalf of Statoil and Chevron, claims Greenpeace. Three Greenpeace activists ...

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Tanker Collision, Four Injured, Four Missing

  A product tanker has collided with a sand carrier of Zhoushan in China leaving four hospitalized and another four missing. The product tanker Zi Yun 1 was attempting to overtake the sand carrier Guoliang 399 when it collided with the vessel which subsequently sank. Strong currents in the area are thought to have contributed to the accident. Guoliang 399 ...

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Senate blocking FMT’s ‘submitted’ report on review of HRM activities in NIMASA from being implemented –investigation

  (TRADE NEWSWIRE): The Senate committee on Ethics, Privileges and Public Petitions has been fingered in blocking already submitted report of the committee set up by Federal Ministry of Transport (FMT) to review Human Resource Management (HRM) exercises with respect to appointments, placements and promotions carried out in the Nigerian Maritime Administration and Safety Agency (NIMASA) from 2008 to 2015, ...

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UK govt to sell land along Nassim Road, in deals worth at least S$72m

SINGAPORE: The United Kingdom government has put up for sale land around the official residence of the British High Commissioner along Nassim Road, deals that could be worth more than S$72 million. Announcing this in a statement on Monday (Nov 23), sole marketing agent CBRE said the two freehold sites are zoned for Good Class Bungalows (GCBs) – bungalow developments ...

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Death: The best but distasteful friend of all

  (TRADE NEWSWIRE): The late Fuji maestro, Are Dr. Sikiru Ayinde Barrister in one of his song on inevitability of death sang, TRADE NEWSWIRE reports. Iku ti o p’olowo ni y’o pa talaka, iku ti o p’a eni t’on sun lagbala o,ni y’o pa asiwere oju titi, iku ti o pa eni t’on sun laafin, ni y’o pa eni t’on ...

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Smokeless tobacco users exposed to more nicotine, cancer-causing chemical

  Compared to cigarette smokers, users of smokeless tobacco are exposed to equal or higher levels of nicotine and NNK, a cancer-causing chemical in tobacco products, according to a study from the U.S. government. More research is needed on the toxic components of smokeless tobacco products and the health of people who use them, write the researchers from the Food ...

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Global health experts accuse WHO of ‘egregious failure’ on Ebola

LONDON,: The World Health Organization’s failure to sound the alarm until months into West Africa’s Ebola outbreak was an “egregious failure” which added to the enormous suffering and death toll, global health experts said on Monday. A specialist panel convened by Harvard’s Global Health Institute (HGHI) and the London School of Hygiene & Tropical Medicine (LSHTM) said while the epidemic ...

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Liberia monitors over 150 Ebola contacts as virus re-emerges

MONROVIA: Liberia has placed 153 people under surveillance as it seeks to control a new Ebola outbreak in the capital more than two months after the country was declared free of the virus, health officials said. Three Ebola cases emerged in Liberia on Friday. The first of the new patients was a 15-year-old boy called Nathan Gbotoe from Paynesville, a ...

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Siemens chief warns on investment after Paris attacks

PARIS: Companies may put investment plans on hold in the wake of Paris attacks which have sapped investor confidence, the head of industrial giant Siemens said in remarks published Monday. “The biggest economic damage from these attacks is on confidence, and confidence is a crucial element in this phase,” Siemens chief executive Joe Kaeser told the Financial Times. “My biggest ...

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Inadequate dirty money regulation ‘leaves UK open to terror funds’: report

LONDON: Britain’s “woefully inadequate” anti-money laundering system has left the country wide open to corrupt money and terrorism funds and needs radical overhaul, a leading anti-corruption group said on Monday. Each year billions of pounds of dirty money flow through Britain, but the system for identifying it is too fragmented and unaccountable to be effective, according to a report by ...

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Pfizer set to buy Botox maker Allergan for $150bn

Pfizer was due to secure formal board approval on Sunday for its acquisition of Botox maker Allergan for more than $150 billion, making it the healthcare sector’s largest deal ever, according to people familiar with the matter. The agreement is set to draw political ire in a US presidential election year for Pfizer’s decision to use the transaction to redomicile ...

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Brussels still in lockdown; 16 held in police raids

Belgian police arrested 16 more people in late-night raids searching for those behind the deadly November 13 attacks in Paris, but failed to find a prime suspect as the government locked down the capital for a third day on Monday. Brussels will again see its metro and many shops closed, as well as schools, while offices in a city that ...

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Dubai property tax, costs lowest globally, says report

Foreign investors buying property in Dubai, UAE, have to pay one of the lowest levels of taxes and transaction costs globally, even cheaper than London, Mumbai, Paris and Hong Kong, according to a new report by property expert Knight Frank and top professional services firm EY. The Global Tax Report 2015, analyses the buying, holding and selling costs for foreign ...

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Life and times of Prince Audu Abubakar

  (TRADE NEWSWIRE): Prince Abubakar Audu (1947-2015) was twice the Governor of Nigeria’s Kogi state. His first tenure was from January 1992 until November 1993 and the second from 29 May 1999 to 29 May 2003. He reportedly died due to an heart attack shortly after the announcement of the election results on the 22nd November, 2015, while seeking re-election ...

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Congratulations to Ooni of Ife Oba Adeyeye Enitan Ogunwusi

(TRADE NEWSWIRE): I congratulate Oba Adeyeye Enitan Ogunwusi, as he was crowned in a secret traditional ceremony as the Ooni of Ife today, TRADE NEWSWIRE reports. May you reign on the thrown of your forefathers in peace and prosperity for the betterment of the society. Ade a pe l’ori, bata a pe l’ese, irukere a di okinni, esin oba a ...

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Study: Dispersants Hinder Natural Degradation of Oil

The use of chemical dispersants meant to stimulate microbial crude oil degradation can in some cases inhibit the microorganisms that naturally degrade hydrocarbons, according to a new study led by University of Georgia (UGA) marine scientists. Their findings are based on laboratory-simulated conditions that mimic Gulf of Mexico deep waters immediately following the Deepwater Horizon oil spill. The team found ...

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Old Barge Finds New Cargo: Big Data

California company Nautilus Data Technologies is building the world’s first floating commercial data center at a naval shipyard near San Francisco, and expects to have it ready for use in early 2016. The prototype vessel was developed in cooperation with the U.S. Navy, and is intended to reduce the high energy costs associated with data center operations. Cooling the server ...

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CMA CGM Takes Hit but Sees 2016 Recovery

France’s CMA CGM, the world’s third-largest container shipping firm, said freight rates should recover next year after a market downturn led to a sharp fall in its third-quarter profits. The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, hit a new all-time low on Friday, pulled down by a vessel glut and slowing ...

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U.S. Loses Appeal in Mexican Tuna Dispute

The World Trade Organization’s Appellate Body ruled against the United States on Friday in a dispute with Mexico over tuna labelling, upholding an earlier ruling issued in April that found U.S. rules discriminated against Mexico. “The Appellate Body concludes that the United States has not brought its dolphin-safe labelling regime for tuna products into conformity with the recommendations and rulings ...

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IMO Recognizes Courageous Acts at Sea

    On Thursday, the IMO honored seafarers for their impressive and courageous acts in challenging conditions at sea.The main award (the Bravery Award) was presented to Aviation Survival Technician Christopher Leon (from the U.S.) for his professional and courageous acts in a demanding operation, saving four competition rowers in distress at sea with their boat in a hurricane. Three ...

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Strategic report: To Nigerian security agencies on insecurity in Lagos, Ogun

(TRADE NEWSWIRE): With respect to insecurity in Lagos and Ogun in the recent times, may I suggest the following strategies to our security agencies and the affected state governments for their consideration?TRADE NEWSWIRE reports. 1, Beam your security searchlight on (border towns) located around Lagos/ Benin Republic border and Ogun / Benin Republic border. 2, Collaborate with security agencies in ...

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New case of Ebola found in Liberia: UN official

ACCRA: A new case of Ebola has been found in Liberia, a country declared free of the disease on Sept. 3, a senior United Nations official said on Friday. The patient is a 10-year-old boy who lived in the Paynesville, a suburb east of the capital Monrovia, said the official, who declined to be named. The case represents a setback ...

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2016 Honda Pilot launched in Bahrain

The 2016 Honda Pilot was launched in Bahrain. The National Motor Company announced the launch at the Honda showroom in Sitra, with the car available across the GCC, Lebanon and Jordan, said a report in the Gulf Daily News (GDN), our sister publication.

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Airbus A380 upgrade may come earlier than 2022

Airbus believes introducing a sales-boosting upgrade to its A380 aircraft in 2022 may be too early, chief executive Fabrice Bregier said at an industry gathering in New York on Thursday. The planemaking unit of Airbus Group is looking at whether to upgrade the A380, the world’s largest passenger jet, as requested by its largest customer Emirates. While buy-in from Emirates ...

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Iraq aims to build world’s tallest tower

Mott McDonald, a leading global engineering and consultancy firm, has been signed up by the Iraqi government to develop the tallest tower in the world standing at 3500 ft high, said a report. Basrah provincial council, which is behind the project dubbed the “Bride tower,” said once completed, the structure will be taller than the Burj Khalifa, the world’s tallest ...

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Sport brings $1.08bn a year to Dubai economy

  Sport contributes $1.08 billion to Dubai’s economy per annum, a report by consultants Deloitte revealed on Thursday. Golf is the biggest contributor, providing $270 million — or 25 percent — of the emirate’s total sports revenue in the 12 months to September 1, 2015, Nick Tarratt, director of European Tour International – Dubai, told a news conference. These figures ...

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Half a Litre of Rum Consumed Before Lysblink Grounding

The Scottish Marine Accidents Investigation Branch has released its findings on the February 18 grounding of the cargo vessel Lysblink Seaways, and it alleges that the chief mate had consumed half a liter of rum before running the ship up on rocks at Kilchoan. The report found that “the OOW lost situational awareness while under the influence of alcohol.” Additional ...

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Brazil Mine Disaster Drives Bulker Rates Below Cost

Freight rates for capesize bulk carriers could drift lower next week as Brazil’s Samarco iron ore mine disaster and uncertain ore demand from China weigh on cargo volumes, brokers said. That comes as capesize charter rates from Brazil to China on Wednesday hit their lowest level since December 2008. “I’m afraid things could get even worse in the short term,” ...

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Greece Delays Piraeus Port Sale

Greece has pushed back the date for the submission of binding bids for the sale of its biggest port Piraeus (OLP) by two weeks to December 15, at the request of potential bidders, the head of its privatization agency said on Thursday. It is the second time in less than a month that the sale process has been delayed. Greece ...

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Australia’s Port Lease to China Sparks Tension

On Thursday, Australian Prime Minister Malcolm Turnbull defended the lease of a commercial and military port in northern Australia to a Chinese firm said to have close ties to the Chinese military. The Landbridge Group, owned by Chinese billionaire Ye Cheng, was announced in October as the winning bidder for a deal to operate Darwin’s port in a deal worth ...

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Tanker Rates at Record High

Record high freight rates are creating more headaches for traders looking to house millions of barrels of unsold crude oil and who already face potential losses due to record high stocks. They have to decide on whether to use tankers for longer term storage until they can sell their cargoes, or dump them at even more discounted prices in order ...

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Gunmen Take 170 Hostages at Radisson Blu Hotel in Mali

  Explosions and gunshots heard at hotel in capital, Bamako Two gunmen took 170 hostages during an attack at the Radisson Blu Hotel in the Malian capital, Bamako, its owner, Rezidor Hotel Group, said. Those held inside the hotel include 140 guests and 30 employees, Rezidor said in a statement on its website. United Nations forces and Malian government troops ...

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Fincantieri Launches Nuclear Waste Transport Vessel for Russia

On November 19, representatives from Rosatom, the Russian state-owned nuclear corporation, and RosRAO, the Russian agency for radioactive waste management, attended the launch of their new reactor transport platform Itarus at the Fincantieri Muggiano yard in Italy. The unit’s construction contract was signed by the Italian Ministry of Economic Development, RosRAO and Fincantieri in November 2013. It follows a 2003 ...

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BIMCO Awards Recognize Outstanding Migrant Rescues

Thursday night in Hamburg, BIMCO President Philippe Louis-Dreyfus chose to give public recognition to all seafarers who have been – and still are – involved in rescuing people in distress at sea. Louis-Dreyfus awarded the BIMCO President’s Award to Columbia Shipmanagement Hamburg, for their “outstanding” work in rescue operations involving migrant boats in the Mediterranean. The recognition came as part ...

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North Korea has “Excellent” Oil and Gas Potential

  An article from GeoExPro, a petroleum geoscience magazine, says that North Korea has “excellent” oil and gas exploration potential, both onshore and offshore. The assessment was made by Michael Rego, an exploration consultant with access to North Korean geophysical data that has so far received little international attention. The article outlines seven locations which could hold oil and gas ...

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Half of Cheniere’s LNG Will Go To Europe

Cheniere Marketing President Jean Abiteboul told attendees at the EAGC conference in Geneva that up to half of the company’s LNG product could go to Europe in the future. He cited the 30 percent underutilization of European regasification plants as an indicator that the continental market has room for Cheniere’s LNG. The company is already under long term contract to ...

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Gulf of Mexico Operator Pays for Oil Discharges

  ATP Oil & Gas has agreed to pay $41.85 million after actions brought against the company for the alleged discharge of oil, and attempts to hide it with dispersant, in the Gulf of Mexico.The settlement follows investigations by the U.S. Department of the Interior’s Bureau of Safety and Environmental Enforcement (BSEE) and the U.S. Environmental Protection Agency (EPA). The ...

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Panama Canal Expansion 95 Percent Complete

The Panama Canal Authority has released a video showing the canal expansion project is is now 95 percent complete and final electro-mechanical installations are underway. The expansion is on course to be operational by April, 2016. The largest infrastructure project since the waterway’s original construction, the expansion will create a new lane of traffic along the canal through the construction ...

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Transport Uses 25 Percent of World Energy

  The Energy Information Administration has released data showing that the transportation of people and goods accounts for about 25 percent of all energy consumption in the world and that passenger transportation, in particular light-duty vehicles, accounts for most transportation energy consumption. Light-duty vehicles alone consume more than all freight modes of transportation, such as heavy trucks, marine and rail. ...

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Strategic report: To Nigerian security agencies

  (TRADE NEWSWIRE): I urge security agencies to beef-up security at prisons accross the country to avoid jail brake any time soon, this is important, TRADE NEWSWIRE reports. Security should be steped-up at military formations, Nigeria police inclusive, in (Abuja) in particular to avoid attack (s). Abuja and its environs should be under close security watch, government security agencies should ...

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Madoff victims to recoup US$1.42b in two payouts

NEW YORK: Victims of Bernard Madoff’s Ponzi scheme can expect to soon receive about US$1.42 billion to help cover their losses, after two US judges on Wednesday (Nov 18) authorized the payouts. In the first payout, customers who invested directly with Madoff will receive about US$1.18 billion from Irving Picard, the trustee liquidating Bernard L. Madoff Investment Securities LLC. Separately, ...

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