Category: INTERNATIONAL
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Berlin ground staff strike, hundreds of flights canceled
Ground staff at Berlin’s two airports have gone on strike for the second time in four days, forcing the cancellation of hundreds of flights. The ver.di union called on staff at the Tegel and Schoenefeld airports to walk out from 4 a.m. (0300 GMT) Monday until 5 a.m. (0400 GMT) Tuesday. The strike follows a…
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UK poised to trigger Brexit this week — Here’s what you need to know
Complex talks to prepare the U.K.’s departure from the European Union could begin this week with lawmakers expected to finish debating a bill that would give Prime Minister Theresa May permission to formally start the Brexit process. The government has previously stated that May would trigger Article 50 by the end of the month, but…
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Asian shares rise but mood cautious ahead of event-packed week
Asian shares rose on Monday, taking their cue from gains on Wall Street after strong U.S. job data, though the mood was cautious as oil prices plunged to 3 1/2-month lows on fresh worries of oversupply. A confluence of major events this week including an expected interest rate hike by the U.S. Federal Reserve, a…
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Asia:Toshiba Tec shares rise more than 6 percent on sale report
Shares in Toshiba Tec Corp (6588.T) rose more than 6 percent in early Monday trading after a report that Toshiba Corp (6502.T), the parent, is considering selling shares in the company. Toshiba Corp denied a Nikkei business daily report that it was looking to sell shares in Toshiba Tec, a maker of cash register systems,…
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Europe:Vodafone to add over 2,000 British jobs to improve services
Mobile operator Vodafone will create 2,100 new customer service jobs across Britain in the next two years as part of an investment drive to improve operations in its home market. The world’s second-biggest mobile operator, which competes with BT’s EE, Telefonica’s O2 and Hutchison’s Three in Britain, has been struggling in the market with a…
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U.S:Oil prices fall to three-month low as U.S. rig count climbs
Oil prices dropped to their lowest in three months on Monday despite OPEC efforts to curb crude output, dragged down as U.S. drillers kept adding rigs. Brent crude LCOc1 was down 11 cents, or 0.21 percent, at $51.26 per barrel by 0755 GMT, its lowest since Nov. 30. It closed the previous session down 1.6…
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Zimbabwe finmin revises 2017 economic growth forecast to 3.7 pct: state newspaper
Zimbabwe’s economy is now expected to grow 3.7 percent this year, from an initial projection of 1.7 percent, the finance minister was quoted as saying by the state-owned Herald newspaper on Friday. The southern African nation’s economy stagnated last year following a devastating drought while its budget deficit exploded as President Robert Mugabe’s administration struggled…
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Nigeria’s rice boom raises output but old problems persist
Nigerian Abdulhakim Mohammed has just graduated in architecture but, like many people ranging from unemployed locals to foreign investors and Africa’s richest man, he has decided the future lies in rice farming. The reason is that domestic rice prices have more than doubled in the last two years due to an import ban and a…
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Nairobi:City Hall hits traders with heavy licensing burden
Nairobi traders, already under pressure to secure trading permits by the March 31 deadline, have been hit by a sharp increase in annual licence fees, undermining efforts to improve ease of doing business in the city. The traders said the county government’s decision to bundle the licences has more than doubled the trading permit burden…
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Kenya:Bamburi Cement profit flat at Sh5.89bn on tight competition
Cement maker Bamburi Group has reported flat growth in its after-tax profit, citing falling demand in domestic and regional markets as well as rising competition. The Nairobi Securities Exchange-listed company recorded a profit after tax of Sh5.89 billion for the year ended December 2016, a 0.3 per cent rise over the profit recorded during a…