Category: INTERNATIONAL
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BP to cut 10,000 jobs as virus hits demand for oil
BP has announced plans to cut 10,000 jobs amid following a global slump in demand for oil because of the coronavirus crisis. This is according to the BBC. The oil giant had paused redundancies during the peak of the pandemic but told staff on Monday that around 15% will leave by the end of the…
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Amazon removes racist messages after they appear on some product listings
Amazon.com Inc (AMZN.O) said it was removing certain images after messages using extremely strong racist abuse appeared on some listings on its UK website when users searched for Apple’s (AAPL.O) AirPods and other similar products. This is according to Reuters. The message sparked outrage on Twitter, with the topic “AirPods” trending in the United Kingdom.…
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EU trade commissioner Hogan mulling candidacy for WTO chief
European trade commissioner Phil Hogan is considering putting his name forward as a candidate to be the next director-general of the World Trade Organization,WTO, his spokesman said on Sunday. This is according to Reuters. The WTO post will become vacant at the end of August after incumbent Roberto Azevedo said he would step down a…
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Argentina may spend over $880 million to prop up state airline
Argentina may have to dole out at least $880 million in subsidies this year to keep its state airline afloat, further weighing on government finances after the nation’s ninth sovereign default. Aerolineas Argentinas President Pablo Ceriani said the carrier’s budget shortfalls, up from about $680 million last year, will persist until demand rebounds, which isn’t…
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An African candidate could be the next WTO Director-General – Trade Analyst predicts
An African could emerge as the Director-General of the World Trade Organization (WTO) if the continent puts forward a competent name for the vacant position created by the resignation of Brazil’s Roberto Azevêdo. That’s the view of a Trade Analyst and Managing Partner at Konfidants, Michael Kottoh. Mr. Kottoh argues that geopolitical issues and trade…
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Airbus Bribery Scandal: Former boss of Indonesian Airline jailed 8 years
The Jakarta Corruption Court has sentenced Emirsyah Satar to eight years in prison after finding the former President Director of Garuda Indonesia guilty of accepting Rp 49.3 billion (US$3.4 million) in bribes and laundering Rp 87.5 billion related to aircraft procurement. This is according to the Jakarta Post. The court has also fined Emirsyah Rp…
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Ghanaian Human Rights lawyer appointed to Facebook, Instagram global content board
A Ghanaian human rights lawyer and Program Manager at the Open Society Initiative for West Africa, Afia Asantewaa Asare-Kyei, has been appointed as Board Member to the newly created New Global Independent ‘Oversight Board’ for Facebook and Instagram Content. The 20-member ‘Oversight Board’ will review certain content decisions by Facebook and Instagram and make binding…
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COVID-19: IMF approves $3.4 billion in emergency support for Nigeria
The International Monetary Fund (IMF), has approved a disbursement of US$3.4 billion to Nigeria to support the country’s efforts in addressing the severe economic impact of the COVID-19 shock and the sharp fall in oil prices. “The Executive Board of the International Monetary Fund (IMF) approved Nigeria’s request for emergency financial assistance of SDR 2,454.5…
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Exxon Equatorial Guinea offshore workers test positive for coronavirus
Thirty workers at an ExxonMobil-operated offshore oil platform in Equatorial Guinea have tested positive for the new coronavirus, two sources close to the Ministry told Reuters. The outbreak on the platform is one of the sector’s largest reported infection clusters and highlights the risk that the coronavirus poses to offshore oil installations, where people typically…
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COVID-19: South Africa’s wine export ban to cost producers over £43m
Wines of South Africa (WOSA) has predicted that the five-week lock-down ban on wine exports could cost the South African wine industry more than one billion Rand (£43 million), while the damage to reputation and consistent supply, as well as future market opportunities could be astronomical in the longer term. According to them, despite an…