Category: INTERNATIONAL
-
Currency that never gains gets Ghana Central-Bank lifeline
Ghana’s cedi has weakened every year since at least 1994. Now the central bank appears to have drawn a line in the sand, ready to intervene should the currency slip out of the tight range it’s held since May. The Bank of Ghana has sold dollars in the spot and forward markets to stabilize the…
-
Unemployment: Planned redundancies twice the rate of last recession
Employers in Britain are planning more than twice as many redundancies than they did at the height of the last recession, new figures show. About 180,000 job cuts were planned from January to March 2009, while 380,000 were planned from May to July this year. Completed redundancies could reach 735,000 this autumn, researchers say. The…
-
COVID-19 vaccine: 8,000 jumbo jets needed to deliver doses globally – IATA
Shipping a coronavirus vaccine around the world will be the “largest transport challenge ever”, according to the airline industry. The equivalent of 8,000 Boeing 747s will be needed, the International Air Transport Association (IATA) has said. There is no COVID-19 vaccine yet, but IATA is already working with airlines, airports, global health bodies and drug…
-
British Airways owner IAG to cut more flights
British Airways owner, IAG, is cutting more flights over the next three months as it adjusts to the continuing collapse in demand for air travel. IAG, which also runs Aer Lingus and Iberia, said quarantine restrictions meant capacity this autumn would be 60% below 2019 levels. The group said it had seen a “delayed recovery”,…
-
Afrocacy elated over commissioning of AfCFTA Secretariat building
A Pan African social movement, Afrocacy, has lauded the “successful commissioning” of the Africa Continental Free Trade Area (AfCFTA) Secretariat building. The ceremony, which took place, Monday, August 17, is purposed to administer the free trade agreement for creating a single market across 55 countries with a combined population of 1.2 billion and a total…
-
AfCFTA Secretary-General pledges to empower women as part of vision
The Secretary-General of the Africa Continental Free Trade Area, Wamkele Mene, has said part of his vision for the implementation of the Africa trade agreement is the empowerment of women and other vulnerable groups in Africa. He says there must be a conducive atmosphere for women in trade, young Africans and Small and Medium Enterprises…
-
Akufo-Addo to hand over AfCFTA building to AU Commission today
President Nana Akufo-Addo will today, Monday, August 17, 2020, commission and hand over the African Continental Free Trade Area (AfCFTA) Secretariat Building to the African Union Commission (AUC) in Accra. The Secretariat will administer the free trade agreement for creating a single market across 55 countries with a combined population of 1.2 billion and a…
-
Zuckerberg now worth more than $100bn as Facebook stock rose due to release of TikTok rival, Instagram Reels
Facebook founder and CEO Mark Zuckerberg’s net worth surpassed $100 billion for the first time on Thursday after the company released its TikTok competitor, Reels. Optimism in Facebook Inc. hit record levels following the release of the new Instagram feature which comes as TikTok faces a possible ban in the U.S. as the Trump administration…
-
Reuters poll suggests cocoa prices may drop by 10% due to COVID-19
A Reuters poll of London cocoa futures forecast cocoa would cost 10% less at the end of the year, because of rising production and a hit to demand from the coronavirus crisis. But chocolate bars will not necessarily get cheaper partly because the price of cocoa is only one ingredient in the mix that makes…
-
IMF-induced policies will repress Nigeria’s currency – Organized Labour warns
Submitting to the International Monetary Fund, IMF-induced policies would further distort and repress Nigeria’s currency, organised labour has warned. They argued that embracing the policies would lead the nation to a situation where a U.S. Dollar would exchange for more than N600. Labour, under the Association of Senior Civil Servants of Nigeria (ASCSN), at its…