As part of its deliberations on the report of the Committee on Science and Technology, delegates to the National Conference yesterday rejected a proposal urging government to understudy and further develop the technology being used by illegal crude refineries in the Niger Delta. In the same vein, delegates voted against another amendment brought before them by a delegate and proprietor of a private broadcasting outfit, Chief Raymond Dokpesi to drastically reduce public funding of the Nigerian Television Authority (NTA) and Federal Radio Corporation (FRCN) if they are to continue as a commercial entities.
Updated 5 Years ago

The Senate Committee on Aviation yesterday warned against attempts to misappropriate the $500 million loan obtained by the federal government for the completion of ongoing projects in the nation’s airports and vowed to resist any corrupt act and activities that could stall the ongoing revolution in the aviation sector. The warning came as the supervising Minister of Aviation, Mr. Samuel Ortom, pledged the federal government’s commitment to the completion of the Lagos, Abuja, Port Harcourt and Kano international airport terminals that are currently undergoing remodelling and are expected to be completed before the end of 2014.
Updated 5 Years ago

When business coaches list the traits of great leaders, vision, passion and team building usually rise to the top. Often overlooked is courage. Business leaders make tough choices and juggle competing priorities, which calls for courage just as much as it tests decision-making abilities.
Updated 5 Years ago

It’s been almost five years since the recession officially ended, and we’ve finally stopped seeing headlines warning about the possibility of a “double dip.” Does this mean we’re in the clear from here on out? I wish! But unfortunately, it’s only a matter of time before the economy throws us for a loop again. Economic cycles are just a painful fact of life, and you can bet the farm that there will be at least one more downturn in the next 20 years. Actually, since the Great Depression we’ve experienced 13 recessions in the U.S. – that’s roughly one every six years. Yikes!
Updated 5 Years ago

International energy developer, Joule Africa has signed an agreement with Cameroon to build 100MW of new solar photovoltaic (PV) facilities in up to five different sites close to large-scale solar farms in the country. The agreement, which was signed at the maiden UK-Cameroon Trade and Investment Forum in London, will see Joule Africa partner with local company Bethel Industrievertretung (BIIL) and the government of Cameroon to set up the facilities in strategic parts of the country, if possible the northern part where solar irradiance are higher.
Updated 5 Years ago

South Africa’s strike-hit platinum producers, Lonmin, Implats and Amplats, on Tuesday said they have lost total earnings worth R21.7 billion ($2.5bn) since the platinum wage strike started in late January this year. The firms also admitted that workers had lost R9.6 billion ($895.5 million) in wages during the period of the strike.
Updated 5 Years ago

In support of America’s $7 billion power initiative disclosed by President Obama last year, US-based Export-Import (Ex-Im) bank will be financing a $1 billion supply of energy and rail transport machinery worth $1 billion towards developing economic infrastructure in Angola . The deal will see General Electric provide Angola, Africa’s second largest oil producer, with energy equipment worth $650-million. The remaining cash will be used for locomotive supply, local newspaper Jornal de Angola newspaper reported.
Updated 5 Years ago

Iranian President Hassan Rouhani, seven cabinet ministers, and a 90-member trade delegation from the Iranian private sector arrived in the Turkish capital Ankara on Monday. The Iranian trade delegation will discuss ways to boost bilateral economic relations during their three-day visit.
Updated 5 Years ago

Hilton Worldwide has joined hands with Qatar investor Al-Rayyan Hospitality to develop the largest beach resort in the Middle East at Salwa Beach in Qatar. The 362-key property will be located 97 kilometers from Doha, and will feature a waterpark, luxury marina, yacht club, dive center, cinemas, 13 restaurants, bars and lounges, in addition to retail outlets.
Updated 5 Years ago

North Korea and Russia announced a set of measures to facilitate trade and cooperation following an intergovernmental commission held near Vladivostok on Thursday, according to Interfax News Agency. Russia’s Far East Development Minister Alexander Galushka said that the two countries had agreed to switch settlements in roubles and that Russian investors working on DPRK projects would benefit from exclusive terms.
Updated 5 Years ago