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Monthly Archives: November 2016

Dubai unveils Autonomous Transportation Strategy to make 25% of trips driverless by 2030

  (TRADE NEWSWIRE): Dubai has launched Autonomous Transportation Strategy aimed at ensuring that 25 per cent of all trips are driverless by 2030, TRADE NEWSWIRE reports. The Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, posted the information on his Linkedin page to inform the public ...

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RBS fails Bank of England stress test, must bolster capital

LONDON: Royal Bank of Scotland (RBS) will cut costs and sell assets to boost capital levels, it said on Wednesday after failing this year’s Bank of England stress test, which warned of a “challenging” outlook for Britain’s financial system. State-backed RBS rushed out a statement after the result announcement to say it would take a range of actions to make ...

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Almost half HIV infections worldwide undetected: WHO

  GENEVA: The World Health Organisation warned on Tuesday that nearly half of all people with HIV around the globe do not know they are infected, and called for broader access to at-home testing kits. The UN health agency said that 40 per cent of people with the virus that causes AIDS, or more than 14 million people worldwide, are ...

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Philip Morris CEO looks towards phasing out cigarettes: BBC

LONDON: Philip Morris International , the world’s largest international tobacco company, could eventually stop selling cigarettes, its chief executive told the BBC on Wednesday, as it launched its alternative product IQOS in Britain. The company’s IQOS smokeless cigarette, which is already on sale in over a dozen markets including Japan, Switzerland and Italy, heats tobacco enough to produce a vapor ...

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New Ship Efficiency Portal Launched

  At the World Ocean Council’s Sustainable Ocean Summit on Wednesday, Carbon War Room, exactEarth, and University Maritime Advisory Service (UMAS) launched BetterFleet, a free-to-access ship operational efficiency portal on ShippingEfficiency.org.Based on similar data and methods used by the IMO to assess the world fleet, BetterFleet shows how efficiently an individual vessel has operated over the past year and compares ...

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Lufthansa cancels further 890 flights as strikes continue

  Lufthansa’s pilots walked out on another strike today, forcing the carrier to cancel a further 890 flights, said a report. The ongoing labour dispute, which has left thousand’s of passengers stranded, has cost the carrier millions of euros and it will continue to lose more if negotiations are not made, said a report in the Daily Express. Strikes by ...

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Allow women to drive in Saudi, urges Prince Alwaleed

  Women must now be allowed to drive in Saudi Arabia since such a ban is fundamentally an infringement on a woman’s rights, said Saudi billionnaire Prince Alwaleed bin Talal. “It is high time that Saudi women started driving their cars, and it is high time that we turn the page on this issue the way we did on tens ...

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Tribute to Chapecoense

  Wembley Stadium’s arch is illuminated in green, in London, Britain on November 29. The arch was lit in the traditional team colours of Brazilian football club Chapecoense after members of the team were killed in a plane crash in Medellin, Colombia on November 28.  EPA/Will Oliver

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Travel is ‘the secret to true happiness’

  Almost half (49 per cent) of people say a holiday brings them more happiness than their wedding day, while over half (51 per cent) prefer travelling over going on a date with their partner, according to a new study. Global research commissioned by Booking.com, a global leader in booking hotel and other accommodations online, has revealed that travel gives ...

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10 most important shifts in IT companies before 2020

  Global ICT research and consulting firm International Data Corporation (IDC) has laid out the ten most important shifts that will happen in IT organizations over the next 36 months and will guide senior IT executives in the formation of their three-year strategic IT plans. To help CIOs and IT executives successfully lead their organisations through the accelerating process of ...

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Global solar PV capacity to hit 295GW this year

  The global solar photovoltaic (PV) market is set to increase its installed capacity from around 225 Gigawatts (GW) in 2015 to 294.69 GW in 2016, and will see China remain the world’s largest market for annual solar PV installations, according to research and consulting firm GlobalData. The company’s latest report states that China installed 15.13 GW of new installed ...

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AFGRE to operate $1.78bn Doha Festival City

  Qatar-based Bawabat Al Shamal Real Estate Company (Basrec) has signed up Al Futtaim Group Real Estate as the manager and operator of its ambitious QR6.5 billion ($1.78 billion) Doha Festival City. Set to open its doors in February next year, Doha Festival City celebrates the best in leisure, retail and hospitality. With a gross building area the equivalent size ...

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Saudi king lays foundation for giant maritime complex

  Saudi Arabia’s King Salman bin Abdulaziz Al Saud yesterday (November 29) laid the cornerstone for a major commercial maritime project near Jubail that helps to meet the development, localization and diversification objectives outlined by Saudi Vision 2030. The development of the King Salman International Complex for Maritime Industries & Services will start with a maritime yard as an anchor ...

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Trump, Brexit causing economic uncertainty: ECB chief

BRUSSELS: Geopolitical events including the election of Donald Trump and Britain’s Brexit vote are the main reasons for the current economic uncertainty, European Central Bank chief Mario Draghi told EU parliamentarians on Monday (Nov 28). “Looking at the recent events, it is quite clear that geopolitical uncertainty has become the major source of uncertainty for the months to come,” Draghi ...

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Chinese firms hit by huge increase in cyber attacks – survey

HONG KONG: Cyber attacks on Chinese companies have soared in the past two years, according to a survey, with new technologies that connect household items to the internet and allow them to receive and send data seen as particularly vulnerable. The average number of cyber attacks detected by companies in mainland China and Hong Kong grew 969 percent between 2014 ...

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Drones are mapping Indian cities – where they’re allowed

  MUMBAI (Thomson Reuters Foundation) – Officials in one of India’s fastest growing cities are using unmanned aerial vehicles (UAVs) to update land records in a pilot project that could be rolled out across the country if rules governing the use of drones were simpler, authorities said. Haryana state’s Project Udaan, or flight, is mapping the technology hub of Gurgaon, ...

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Singapore states intent to recover army vehicles held in Hong Kong

The city-state’s defence and foreign ministers also confirmed Singapore’s continued support for the One China policy. SINGAPORE: Singapore on Tuesday (Nov 29) stated its intention to recover military equipment stuck in Hong Kong, as the city-state’s defence and foreign ministers made their first public comments on the nine Terrex Infantry Carrier Vehicles (ICVs) that were detained last Wednesday. The vehicles ...

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South Korea’s embattled president offers to relinquish power

SEOUL: South Korean President Park Geun-hye on Tuesday (Nov 29) asked parliament to find a way for her to give up power and decide when she should step down amid an influence-peddling scandal, but the opposition said she was just trying to avoid impeachment. Park, 64, had apologized twice previously but until now resisted mounting public calls to quit, even ...

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New Opportunities in Indonesia’s Upstream Oil and Gas offshore

Wood Mackenzie has valued Indonesia’s expiring oil and gas production licenses or production sharing contracts at close to $10 billion, highlighting opportunities for a range of operators. Some 35 licenses account for over one million boe/d of production in 2016 and will face expiration in the next decade. The lack of clarity on license extensions, and the scale of production ...

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Maersk May Be Interested in Buying Hamburg Süd

Maersk Line may be looking to buy Hamburg Süd, the German-owned line focused on South American routes. It would be Maersk’s first acquisition of an entire shipping company in more than a decade. Last week the Wall Street Journal reported that the Oetker family, which has owned Hamburg Süd since 1955, were thinking of selling. On Monday the Journal identified ...

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Asian VLCC Rates May Top Multi-Month Highs

Freight rates for very large crude carriers (VLCCs), which rose to multi-month highs last week, could climb further if there is a flurry of pre-Christmas chartering activity, ship brokers said on Monday. VLCC rates were also buoyed by a drop in the number of new vessels being delivered as owners deferred delivery from late 2016 to early 2017, brokers said. ...

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Asia Could Lose Interest in OPEC Oil

For the first time since 2008, OPEC is set to strike a deal to cut oil output that may boost prices. It may also give itself a bloody nose in Asia, where big buyers are ramping up supplies from elsewhere and say they don’t want to pay more for fuel. The Organization of Petroleum Exporting Countries (OPEC) meets on Wednesday ...

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Ship Sales Climb to Seven-Year High

  Sales of second-hand ships used to haul commodities such as iron ore, coal, grain and fertilizer have hit a seven-year high in 2016 as the industry creeps out of an eight-year downturn that has sunk several fleets of shippers. Seaborne transport, which accounts for 85 percent of global trade, has seen a tentative recovery in the rates shippers charge ...

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Qatar Airways to launch 15 new destinations in 2017-18

Qatar Airways has announced eight more destinations for 2017-18, in addition to seven previously announced new cities for a total of 15 new gateways. Joining the Qatar Airways’ route network, which spans more than 150 destinations on six continents around the world, are: Canberra, the airline’s fifth destination in Australia; Dublin, Ireland; Las Vegas, the airline’s 11th destination in the ...

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WTTC, UNWTO urge UK govt to lift air ban to Sharm el Sheikh

  The World Travel & Tourism Council (WTTC) and the World Tourism Organization (UNWTO) have called on the UK government to lift the current ban on UK-based airlines flying to Sharm el Sheikh in Egypt. In a letter to Prime Minister Theresa May, David Scowsill, president and CEO, WTTC, and Taleb Rifai, secretary-general, UNWTO, stressed the importance of resuming operations ...

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Saudi PIF to take 50pc stake in Adeptio

Saudi Arabia’s Public Investment Fund, the kingdom’s sovereign wealth fund, will take a 50 percent stake in Dubai-based businessman Mohamed Alabbar’s Adeptio investment vehicle, according to a Bloomberg report. The acquisition is part of PIF’s strategy to boost non-oil investments, a statement was quoted as saying. Adeptio is working on a takeover of Kuwait Food Company (Americana), and is set ...

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Schlumberger inks oilfield study with Iran

Schlumberger, the world’s largest oil driller by market value, has signed a preliminary deal to study an Iranian oilfield with the National Iranian Oil Company, a report said. Schlumberger said the deal does not involve the execution of oilfield services operations and it intends to comply with the laws and regulations of the countries where it operates, according to Iran ...

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Big drop in turbines, generators market forecast

The global market for boilers, turbines, and generators (BTG) is set to decrease from a cumulative $318 billion during the period 2010-2015, to $241 billion during 2016-2020, according to research and consulting firm GlobalData. The BTG market will experience the drop as capacity installation from thermal fuels continues to decline due to an increased focus on renewable energy sources and ...

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Dubai Customs launches Smart Workplace

Dubai Customs has officially launched the Smart Workplace Platform that aims to turn traditional services into a unique user experience to reduce time and cost as well as boost custom transactions. Sultan Ahmed bin Sulayem, group chairman and chief executive officer of DP World explained that the new smart workplace will accelerate the process of finalizing customs declarations and reduce ...

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HondaJet to debut in the Middle East

Honda Aircraft Company announced today that it will showcase the HondaJet at next month’s Middle East Business Aviation Association (MEBAA) Conference in Dubai, the region’s premier business aviation event. Taking place from December 6-8, the appearance at the Dubai World Central – Al Maktoum International Airport will mark the first time a HondaJet will be on public display in the ...

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Plane carrying Brazilian soccer players crashes in Colombia

  A chartered aircraft with 81 people on board, including players from a Brazilian soccer team heading to Colombia for a regional tournament final, crashed on its way to Medellin’s international airport, said a report. Medellin’s Mayor Federico Gutierrez said Tuesday that it is possible some of the passengers on the ill-fated British Aerospace 146 short-haul plane, may have survived ...

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Red Arrows in Kuwait

  Members of the British Royal Air Force aerobatic display team, The Red Arrows, performing near Kuwait Towers, Kuwait on November 28. The British Ministry of Defence stated that The Red Arrows, are carrying out their biggest overseas tour in a decade. More than 20 displays and a series of flypasts will be performed across the Asia-Pacific and Middle East ...

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What are the 14 key cyber threats to watch in 2017?

Intel Security has identified 14 threat trends to watch in 2017, the most critical developments to watch for in cloud security and the Internet of Things (IoT) security, and the six most difficult-to-solve challenges facing the cybersecurity industry. The McAfee Labs 2017 Threats Predictions Report reflects the informed opinions of 31 Intel Security thought leaders. It examines current trends in ...

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Qatar-China JV wins 2022 World Cup stadium contract

Leading Qatari contractor HBK Contracting said its joint venture with China Railway Construction Corporation (CRCC) has won the main contract for 80,000-seater Lusail Stadium near Doha. The announcement from the Supreme Committee for Delivery & Legacy (SC) comes following the successful completion of the schematic design of the iconic stadium by British architectural firm Foster + Partners. Located in Lusail, ...

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UAE theme parks to welcome over 19m visitors by 2020

  The UAE’s existing and new generation theme parks will attract more than 19 million admissions a year by 2020 if current trends continue, according to data released by Colliers International ahead of Arabian Travel Market 2017. The prediction is made using existing admissions and arrivals data for Yas Island’s Ferrari World and Waterworld and Dubai’s Aquaventure and Wild Wadi ...

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‘Don’t see House of Reps’ oversight function on NIMASA as punitive but call for the best’

.Peterside pledges to make maritime sector Nigeria’s cash cow in recession .Reps tasks NIMASA on 90% budget implementation (TRADE NEWSWIRE): The House of Representatives Committee on Maritime Safety, Education and Administration, has said that the neck to neck oversight function on the Nigerian Maritime Administration and Safety Agency (NIMASA) should not be seen as a punitive measure against the agency ...

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Peterside congratulates Akeredolu Ondo Governor-elect

  (TRADE NEWSWIRE): The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside, has congratulated Chief Rotimi Akeredolu, SAN of the All Progressives Congress (APC) for winning the Ondo State governorship election, TRADE NEWSWIRE reports. Peterside who was the governorship candidate of the APC in Rivers State in the 2015 general elections noted that Chief Akeredolu ...

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Lufthansa pilots plan new strikes Tuesday and Wednesday

      BERLIN: Pilots at German flag carrier Lufthansa will resume their strike on Tuesday and Wednesday, their union said, as talks over a dispute concerning wages ended without a resolution. Pilots’ union Cockpit said it was calling on members flying short-haul flights to stay away from work on Tuesday, and those flying both short and long-haul destinations to ...

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BMW to offer new version of i3 electric car in 2017 – Welt am Sonntag

        FRANKFURT: German luxury carmaker BMW plans to launch a new version of its i3 electric car next year with a longer range and revamped design, German weekly Welt am Sonntag reported, citing company sources. BMW will rework the front and rear of the i3 and equip the car with a new battery to increase its range ...

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Porsche targets 20,000 electric car sales a year – Automobilwoche

      FRANKFURT: Volkswagen’s Porsche division expects annual sales of about 20,000 for its first all-electric car, the Mission E, the luxury carmaker’s chief executive told a German magazine. Porsche, the second-largest contributor to VW’s group profit, plans to create at least 1,400 jobs to develop, build and sell its rival to Tesla’s Model S. The Porsche Mission E ...

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Samsung Electronics to consider split – Seoul Economic Daily

  SEOUL: South Korea’s Samsung Electronics Co Ltd will consider splitting itself into two as proposed by U.S. activist hedge fund Elliott Management, Seoul Economic Daily reported on Monday citing an unnamed source. A split would allow the heirs of the founding Lee family to strengthen their grip on the global smartphone leader, the crown jewel of the Samsung Group ...

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Uber drivers in US cities to join planned worker protests

      LOS ANGELES: Drivers for ride service company Uber will join planned nationwide protests on Tuesday, when activists and low-wage workers renew their call for better pay and the right to join a union in the wake of Donald Trump’s U.S. presidential election win, organizers said. Hundreds of Uber drivers in two dozen cities, including San Francisco, Miami ...

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China lodges protest with Singapore over troop carriers

      BEIJING: China’s Foreign Ministry said on Monday (Nov 28) that it had lodged a protest with Singapore after the city-state’s armoured troop carriers were seized by Hong Kong customs en route from Taiwan last Wednesday. Ministry spokesman Geng Shuang made the comment at a regular press briefing. The Chinese government had said on Friday that it “consistently ...

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Makkah to place Saudi Arabia as top regional Mice destination

Backed by a growing number of modern facilities and government support, Makkah is set to become a new destination for the Mice tourism industry in Saudi Arabia, according to industry experts. Traditionally seen as a site for religious travel, Makkah today is attracting a growing number of local companies and government authorities looking to combine their meeting and training requirements ...

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Saudi Arabia’s deficit ‘could hit $90bn in 2016’

Saudi Arabia’s austerity, privatization and taxation measures will not be sufficient to reduce the deficit to the desired extent, leading to the kingdom seeing a deficit of $80-$90 billion or 13 per cent of the GDP in 2016, a report said. Cost-cutting pressure and declining government investments in Saudi Arabia will also put pressure on medium-term growth, added the credit ...

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Spain, Qatar plans $1bn joint investment fund

Spain and Qatar plan to sign a an agreement to form a $1 billion joint investment fund that would help the Gulf state invest in Latin America, said a senior official in a report. Ignacio Escobar, Ambassador of Spain to Qatar, said that the negotiations on the agreement have been stalled for almost a year by political uncertainty in Spain, ...

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Cybercrime hits over 2.5m UAE consumers

  More than 2.53 million consumers in the UAE have been victims of online crime in the past year as hackers took advantage of consumer complacency, said a new report from Norton by Symantec, a global leader in cyber security. The annual Norton Cyber Security Insights Report shows that despite spending more than Dh5.2 billion ($1.4 billion) and an average ...

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Dubai launches new ‘open-air museum’ project

Dubai has launched a new ‘open-air museum’ project, a public art venture that will see international and local artists working together to create distinctive public artworks across the emirate to highlight Dubai’s unique identity. Vice President and Prime Minister of the UAE and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has approved  the ‘Dubai Street Museum’ project, a ...

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Saudi to start work on giant shipbuilding complex in 2018

Saudi Aramco is likely to start work on its giant ship repair and shipbuilding complex – to developed jointly by its partners National Shipping Company of Saudi Arabia (Bahri), Korea’s Hyundai Heavy Industries and UAE engineering firm Lamprell – in 2018, according to a report. The Saudi Aramco JV project, which will come up at Ras Al Khair on the ...

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Willemen to build Africa’s first automated container terminal

  Willemen Groep, a Belgian conglomerate said it has won a major contract to build the Africa region’s first automated container terminal over a 530,000-sq-m area at Tangier MedPort in Morocco. The Dutch company APM Terminals awarded the contract to the Willemen Groep comprising Aswebo, Aannemingen Van Wellen, Franki Construct and Cosimco. APM Terminals has been active in the port ...

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Good Governance, fight against corruption, others will rebirth Nigeria to greatness – Peterside

.’Greatest investment for a nation is human development’ .’Nigeria’s challenges historical’ .’Nigeria needs a new clear-cut, holistic vision’ .’President Muhammadu Buhari on track in anti-corruption fight, others’ (TRADE NEWSIRE): The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside, has identified quality of governance, fight against corruption, institutional integrity, education as well as sound economic policies ...

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Japan plans supercomputer to leap into technology future

      TOKYO: Japan plans to build the world’s fastest-known supercomputer in a bid to arm the country’s manufacturers with a platform for research that could help them develop and improve driverless cars, robotics and medical diagnostics. The Ministry of Economy, Trade and Industry will spend 19.5 billion yen (US$173 million) on the previously unreported project, a budget breakdown ...

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Kenyan ride-hailing app Little may expand into Nigeria or Uganda

  NAIROBI: Kenyan ride-hailing app Little, which is backed by telecoms operator Safaricom, is considering expansion into Nigeria or Uganda in the first quarter of 2017, the chief executive of its parent firm said. Little was launched by Safaricom and Nairobi software firm Craft Silicon in July to compete with Uber. “We plan to go by the first quarter of ...

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New Submarine for Russia’s Black Sea Fleet

The Russian Navy has taken delivery of the diesel-electric submarine Kolpino at a ceremony in Saint Petersburg.According to the Russian Navy Commander-in-Chief Admiral Vladimir Korolyov, the six Varshavyanka-class submarines of the 636.3 project will allow the Black Sea Fleet to accomplish tasks in its operational zone in cooperation with surface ships and naval aviation. “Quietness, reliability, perfect controllability and effectiveness ...

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HMM Preferred Bidder for Hanjin’s Spain Terminal

  South Korea’s Hyundai Merchant Marine (HMM) said on Friday it was chosen as preferred bidder to buy a port terminal in Algeciras, Spain, partly owned by Hanjin Shipping. HMM said in a statement it is expected to finalize its purchase of a 100 percent stake in Total Terminal International Algeciras in late December from the current owners, including IBK ...

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Two world-class schools to open in Dubai

Brighton College UK and Dwight School New York, the two schools new to Dubai, UAE with combined enrolment capacity of up to 4,000 students, are on schedule to open doors from the 2018/2019 academic year. The three primary components of this 89,000 sq m (super) campus include Brighton College Dubai, Dwight School Dubai, and the Centre of Excellence for Arabic ...

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Oil prices down on strong dollar

Oil prices fell on Friday, under pressure from a strong dollar, but activity was low after the US Thanksgiving holiday and with many traders reluctant to take big new positions ahead of a planned Opec-led crude output cut to be decided next week. International Brent crude oil futures were trading at $48.57 at 0435 GMT, down 43 cents, or 0.9 ...

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Amaechi Tasks NIMASA Board on the Agency’s mandate

    (TRADE NEWSWIRE): The Minister of Transportation, Rt. Hon. Rotimi Chibuike Amaechi, has urged the members of the Governing Board of the Nigerian Maritime Administration and Safety Agency (NIMASA) to assist the Management of the Agency discharge its mandate optimally, TRADE NEWSWIRE reports. Delivering a keynote address at the retreat for the Board members on the topic “Integrating the ...

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LNG share of global gas market set to rise: IEA

  The share of liquefied natural gas (LNG) in the global gas market is set to increase in the coming years, according to a new report from the International Energy Agency (IEA). In fact, LNG supplies have grown at a faster pace than total gas consumption, said the Global Gas Security Review, seeking to provide more transparency into the LNG ...

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Emirates builds life-size floral version of A380

  Emirates Airline has teamed up with Dubai Miracle Garden to construct the world’s largest floral installation through a life-size version of the Emirates A380, covered in more than 500,000 fresh flowers and living plants. When in full bloom, the aircraft structure will have an unprecedented total stem count of 5 million flowers and will weigh over 100 tonnes (take-off ...

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With US$3b port, Malacca eyes slice of shipping giant Singapore’s pie

KUALA LUMPUR: Once at the heart of the global spice trade, Malacca is pumping nearly US$3 billion into an ambitious plan to put itself in demand in a different hot commodity: Oil. The Malaysian state is reclaiming land along the Straits of Malacca to build a port that can handle the biggest tankers on the planet. The target: A slice ...

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Some 1,400 Migrants Rescued

    Some 1,400 boat migrants trying to cross the Mediterranean from North Africa to Europe were rescued on Tuesday, Italy’s coastguard said, after at least 11 overcrowded boats set out from Libya amid calm seas. Rescuers have also recovered eight dead bodies. The coast guard ship Diciotti took seven corpses from a rubber boat, while one body was recovered ...

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Hyundai Merchant Dropped from 2M Alliance Agreement

  Maersk Line has confirmed reports that Hyundai Merchant Marine (HMM) will not join the Maersk-MSC 2M Alliance. Instead, the 2M partners will look at alternative arrangements, like taking over some of HMM’s leased vessels or entering into a slot purchase agreement. The news contrasts with recent statements by 2M executives that HMM’s share of Asia-to-U.S. trade was too good ...

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8 big travel predictions for 2017

Inspired by a wealth of data, traveller endorsements, reviews, preferences and insights as well as industry leading understanding and innovation in e-commerce travel technology, the experts at Booking.com shed light on eight major travel predictions for 2017. 1. Instant Gratification 2.0   Technology is fuelling a more demanding and impatient traveller. 44% of travellers already expect to be able to ...

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Nearly half the world goes online in 2016

  Mobile-broadband networks covered 84 per cent of the world’s population in 2016, yet with 47.1 per cent Internet user penetration, the number of Internet users remains well below the number of people with network access, a United Nations agency report said. While infrastructure deployment is crucial, high prices and other barriers remain important challenges to getting more people to ...

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Top 10 investment ideas for 2017

Global growth is likely to accelerate moderately in 2017, with US growth improving and China continuing to slow, says UBS Wealth Management in a new report highlighting top 10 investment ideas for the coming year. Next year investors face a polarized political world, says UBS. Global gross domestic product (GDP) growth is likely to rise to 3.5 per cent from ...

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US approves Airbus sale of over 100 jets to Iran

The Obama administration has approved the export of more than Airbus 100 jetliners to Iran, despite a move by US lawmakers for a clamp on such transactions, a report said. The export license, granted by the US Office of Foreign Assets Control, and clears Airbus to deliver more than $20 billion in jets to Iran Air, the country’s flag carrier, ...

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Lufthansa cancels 900 flights as pilots go on two-day strike

Lufthansa’s pilots have launched a two-day strike following an ongoing wage dispute, forcing the carrier to cancel close to 900 flights on Wednesday alone, said a report. The pilot’s union had initially called for a 24-hour strike. Following failed attempts by Lufthansa to halt the walkout, the union extended the the strike by another 24 hour, said a report on ...

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FG reiterates commitment to patronage of Made in Nigeria Sports equipment

  (TRADE NEWSWIRE): The Permanent Secretary, Special Duties Office (SDO) of the Secretary to the Government of the Federation (SGF), Dr. Amina Shamaki, has restated the commitment of the Federal Government to the patronage of made in Nigeria sports equipment for the development of grassroots games in Nigeria, TRADE NEWSWIRE reports. According to a statement obtained by TRADE NEWSWIRE from ...

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Nakilat transitions LNG Umm Slal to in-house management

  (TRADE NEWSWIRE): Nakilat has assumed full ship management and operations of Q-Max LNG carrier Umm Slal from STASCo (Shell Trading and Shipping Company Ltd.) with effect from 23 November 2016, as part of the planned and phased transition announced on 19th October 2016. With a cargo carrying capacity of 265,978 cubic meters, Umm Slal is wholly-owned by Nakilat and ...

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Obong of Calabar Expresses Confidence in the Board of NIMASA

  (TRADE NEWSWIRE): The Obong of Calabar, His Royal Majesty, Edidem Ekpo Okon, commended the Federal Government for constituting the Board of the Nigerian Maritime Administration and Safety Agency (NIMASA) saying that the calibre of personalities in the Board gives a lot of confidence and hope that the Nigerian maritime industry is set to experience renewed development, TRADE NEWSWIRE reports. ...

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Management guru Dakuku Peterside to deliver 2016 UNN Distinguished Persons annual lecture

   (TRADE NEWSWIRE): The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Dakuku Peterside, is to deliver this year’s University of Nigeria Nsukka (UNN) Distinguished Persons Annual Lecture of the Faculty of Management, TRADE NEWSWIRE reports. A statement from the University, according to a World-renowned First-rate Public Relations Professional and Head, Corporate Communications, NIMASA, Hajia Lami Tumaka, notes ...

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Board, Management Synergy required in NIMASA for dev of maritime sector- Peterside

  (TRADE NEWSWIRE): The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has noted that to achieve the Agency’s vision of becoming the leading maritime administration in Africa advancing Nigeria’s global maritime goals, it is important that there is no disconnect between policy formulation and policy implementation, TRADE NEWSWIRE reports. In a statement obtained by ...

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Obama says world leaders want to move forward with TPP

      LIMA, Peru: US President Barack Obama on Sunday (Nov 20) said that leaders from across the Asia-Pacific have decided to move ahead with a trade deal opposed by his successor Donald Trump. “Our partners made clear they want to move forward with TPP,” Obama said at a press conference after meeting leaders in Peru. “They would like ...

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Tech worker visas face uncertain future under Trump, Sessions

  SAN FRANCISCO: The main U.S. visa program for technology workers could face renewed scrutiny under President-elect Donald Trump and his proposed Attorney General, Senator Jeff Sessions, a long-time critic of the skilled-worker program. H-1B visas admit 65,000 workers and another 20,000 graduate student workers each year. The tech industry, which has lobbied to expand the program, may now have ...

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More than 18 million on HIV treatment, a million more than 2015: UNAIDS

        LONDON, Nov 21 – More than 18 million people now have access to life-saving AIDS treatment, 1.2 million more than at the end of last year, the United Nations said on Monday. In a report on the AIDS pandemic, which has infected 78 million people and killed 35 million since it began in the 1980s, UNAIDS ...

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Ballast Water Treatment Issues Remain Unresolved

Last month’s IMO Marine Environmental Protection Committee (MEPC) adopted resolution MEPC.253(67) on the review of the guidelines for approval of ballast water management systems (G8) to facilitate entry into force of the Ballast Water Management Convention. The revised G8 is more prescriptive in some aspects and will require harmonization between administrations to ensure a level playing field for manufacturers and ...

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NIMASA’s Dikko Bala appointed IMSO Chairman

   (TRADE NEWSWIRE): Mr. Dikko Bala, Alternate Permanent Representative to the International Maritime Organisation (IMO) has been appointed the Chairman of the International Mobile Satellite Organisation (IMSO) for a period of two years, TRADE NEWSWIRE reports. The appointment was confirmed during the 24th session of IMSO in London recently. Mr. Bala, a Deputy Director with the Nigerian Maritime Administration and ...

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Maritime sector key to advancement of our global economic Interest – NIMASA DG

      (TRADE NEWSWIRE): The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has stated that if Nigeria must advance its global economic interest then the country must ensure that it gets the regulation of the maritime sector right, TRADE NEWSWIRE reports. According to a statement obtained by TRADE NEWSWIRE from a World-renowned First-rate ...

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NYK Ports Expands Global Terminal Operations

NYK Ports and Macquarie Infrastructure Partners III have invested in Maher Terminals, which operates a terminal in the U.S. port of New York and New Jersey.On November 16, 2016, NYK Ports acquired a 20 percent share of Maher, the latest move in its global expansion. The port of New York and New Jersey handles the most containers of any port ...

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Cebu Port Expansion Moves Ahead

The New Cebu International Container Port has won the approval of the Philippine government, and work on the $200 million container terminal is set to begin in the third quarter of 2017.The new 500,000 TEU port will be located at Tayud, Consolacion, about five miles away from the existing facility. Tayud has a harbor depth of 45 feet, much deeper than ...

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Brexit Could Facilitate Free Ports in UK

  Rishi Sunak, a member of the UK Parliament representing Yorkshire, has written a new policy paper in conjunction with the Centre for Policy Studies on the post-Brexit potential for customs-free ports. In a free port (better known as a free trade zone or a foreign-trade zone), shippers and manufacturers can do business without paying taxes – unless they ship ...

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Vietnam Expanding South China Sea Runway

Vietnam is extending a runway on an island it claims in the South China Sea in apparent response to China’s building of military facilities on artificial islands in the region, a U.S. think tank reported on Thursday.Satellite images taken this month showed Vietnam had lengthened its runway on Spratly Island from less than 2,500 feet (760 meters) to more than ...

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Volkswagen to cut 30,000 jobs at VW brand by 2020

    WOLFSBURG, Germany: Volkswagen and its powerful labor unions agreed to cut 30,000 jobs at the core VW brand in exchange for avoiding forced redundancies in Germany until 2025, a compromise which leaves the carmaker’s profitability still lagging rivals. The turnaround plan announced on Friday will lead to 3.7 billion euros (US$3.9 billion) in annual efficiency gains and lift ...

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Rolls-Royce Marine Faces Further Cuts

  Rolls-Royce CEO Warren East gave an investor presentation Wednesday on the firm’s outlook, and he suggested that its Marine division faces further cutbacks. The firm expects “transformation benefits” from a restructuring of Rolls-Royce Marine totaling $45 million this year and $50 million in 2017. It has already closed 12 of its 27 business locations. Michael Makinen, the president of ...

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Argentina Shifts Drug Offensive to Private Ports

    Argentina’s government has stepped up security at the ports in its main grain exporting hub of Rosario, counting on cooperation with private terminal operators to keep drug traffickers away from a key industry. Some 3,000 federal police, coast guard, gendarmerie and airport police have been deployed in Santa Fe province in recent weeks with about half of those ...

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Arctic Expedition Cruise Operators Support HFO Ban

  The Association of Arctic Expedition Cruise Operators (AECO) reconfirmed its support for an international ban on heavy fuel oil (HFO) for all ship traffic in the Arctic at its annual general meeting this week. Currently, HFO is only banned in the nature reserves and the large national parks in Svalbard. Such a ban would be beneficial to avoid the ...

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NIMASA Board approves development of new Offices in Warri, PH, Onne

    (TRADE NEWSWIRE): The Governing Board of the Nigeria Maritime Administration and Safety Agency (NIMASA) has approved the development of new zonal offices and a multi level car park at the Agency’s head office using a Design, Build and Finance (DBF) model under a Private Finance Initiative (PFI) in its 2017 budget year, TRADE NEWSWIRE reports. The approval which ...

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Maritime security: ECOWAS must eradicate piracy to grow economy – NIMASA DG

    (TRADE NEWSWIRE): The Director-General of the Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Dakuku Peterside, has charged member states of the Economic Community of West African States (ECOWAS) to eradicate the scourge of piracy in the sub region in order to grow the economy, TRADE NEWSWIRE reports. In a statement obtained by TRADE NEWSWIRE from a World-renowned ...

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NIMASA’s Ibrahim Jibril elected CILT Nigeria President in a landslide victory

  (TRADE NEWSWIRE): Mr. Ibrahim Jibril, Director of Administration and Human Resources department in the Nigerian Maritime Administration and Safety Agency (NIMASA) has been elected the President of the Chartered Institute of Logistics and Transport (CILT) Nigeria, TRADE NEWSIRE reports. At the election which held in Abuja during the Institute’s Annual General Meeting, Mr. Jibril polled 272 votes to defeat ...

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NIMASA Director Akinyosoye receives MPA Academy Fellowship Award in Singapore

    (TRADE NESWIRE): The Head of Shipping Development Department in the Nigerian Maritime Administration and Safety Agency (NIMASA) Mr. Akin Akinyosoye, has been awarded the Maritime and Port Authority of Singapore (MPA) Academy Fellowship Award, TRADE NEWSWIRE reports. In a statement obtained by TRADE NEWSWIRE from a World-renowned First-rate Public Relations Professional and Head, Corporate Communications, NIMASA, Hajia Lami ...

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ADVERTORIAL: Re-‘Obla denies bribing Rita Ofili-Ajumogobia’, a case of What Goes Around, Comes Around.

  (TRADE NEWSWIRE): The attention of Maritime Advocacy Group, MAG, a coalition of Industry Journalists, Ship owners and Critical Stakeholders has been drawn to a Press Statement credited to Chief Godwin Obla, SAN, former Economic and Financial Crimes Commission, EFCC, Prosecutor in the media with various caption bordering on “OBLA DENIES BRIBING RITA OFILLI-AJUMOGOBIA”. MAG unequivocally and without diluting or ...

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Security alert: Strategic report to Nigerian security agencies

  (TRADE NEWSWIRE): 1, There might be attacks by Boko Haram in Kano, Kaduna and Adamawa states any time soon, TRADE NEWSWIRE reports.   2, Police station(s) in Kano and Adamawa states might be attacked any time soon, Nigeria Police Force should beef up security around their stations. It should be noted that on this number (2) those that might ...

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WhatsApp launches video calling globally

      SAN FRANCISCO: One of the world’s most popular means of communication, WhatsApp said on Monday (Nov 14) it will add fully encrypted video calling to its messaging app. WhatsApp, which boasts more than a billion users worldwide, said the new feature will be added in an app update for Android, iOS and Windows devices. Users can move ...

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Genting Kicks Off New Asian Luxury Cruise Brand

  Genting Hong Kong’s latest vessel, the Genting Dream, has arrived in Hong Kong, kicking off the operations of what Genting bills as the city’s first home-ported luxury cruise brand. That brand, Dream Cruises, will take advantage of the burgeoning demand for cruising in East Asia with runs between Hong Kong and Guangzhou, plus longer itineraries to Vietnamese ports. The ...

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This Year’s Top Five Biggest Dry Bulk Spenders

With dry bulk market values currently in the lowest 10 percent of all observed values since the start of 2007, these owners are turning the current state of the market into a financial opportunity. They have spent close to $1 billion over the last 12 months.VesselsValue’s (VV) Senior Analyst William Bennett looks at the top five dry bulk spenders: In ...

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Permanent Cruising: More Condos Aboard Cruise Ships

    200 high-net-worth individuals maintain residences on the exclusive cruise ship The World, which functions as an ultra-high-end seafaring condominium. The residents select their destinations in consultation with the captain and travel as much as 40,000 nm per year. But coming soon, the discerning permanent cruiser may have more options. Genting Hong Kong’s Crystal Cruises is building three new ...

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Singapore’s Swissco to File for Judicial Management

Singapore’s Swissco Holdings, a debt-burdened provider of rig and vessel chartering services, said it has decided to file for interim judicial management after reaching an impasse with major lenders.Many companies in the offshore oil and gas services sector – a key industry in Singapore – have been struggling to meet debt commitments after a rout in global oil prices until ...

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Europe Ships Oil as Far as Cuba and Australia

The Mediterranean is rapidly becoming the world’s most oversupplied oil market, as exports from OPEC heavyweights Iraq and Iran, rising star Kazakhstan and the return of Libyan crude force traders to get creative in marketing their barrels.Supply of virtually every key grade of crude in the region has increased in the last year, in spite of the benchmark oil price ...

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New Zealand Council Votes Against Offshore Drilling

    New Zealand capital Auckland has seen a move to stop offshore drilling in the area. Auckland Council’s governing body has voted to oppose the proposed offering of petroleum exploration permit applications in the Northland-Reinga and Taranaki Basins. In a lengthy debate on the economic merits and environmental effects of oil exploration, the Council voted in favour of an ...

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