Wednesday, January 27African Business News
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Intra-African trade could help mitigate impact of Covid-19 on Nigeria, others

Intra-African trade could help mitigate impact of Covid-19 on Nigeria, others

Business, Travel
With Africa’s major trading partners suffering from the unfolding coronavirus crisis, the United Nation Economic Commission for Africa (ECA), has stated that the situation presents an opportunity for African countries to deepen continental trade as the continent’s trade partners struggle to contain effect on their economies. The UNECA warned the unfolding coronavirus crisis could seriously dent Africa’s already stagnant growth with oil exporting nations losing up to $65 billion in revenues as crude oil prices continue to tumble. ECA Executive Secretary, Vera Songwe, said having already strongly hit Africa’s major trading partner, China, COVID-19 was inevitably impacting Africa’s trade. She said although a few COVID-19 cases have been reported in some 15 countries far, the cris...
Air ticket sales to worsen with global pandemic as 2019 records 31% slump

Air ticket sales to worsen with global pandemic as 2019 records 31% slump

Travel
Ticket sales for international travellers in Nigeria recorded about 31.4 per cent slump in 2019, compared to 2018 estimates. Travel agencies yesterday, released the N360 billion total sales figure for 2019 – a N165 billion difference when compared to N525 billion ($1.5 billion) recorded in previous year. The 2019 figure is at variance with about 10 per cent projected rise in passenger traffic, increased capacity and new routes that opened during the year under review. President of the National Association of Nigeria Travel Agencies (NANTA), Bernard Bankole, who disclosed the figure, said the “sharp drop” was on account of xenophobic attacks and visa restrictions by the United States’ government. Indeed, expectation was erstwhile high on an upsurge in actual passenger traffi...
Airlines risk collapse, seek bail-out funds over covid-19 losses

Airlines risk collapse, seek bail-out funds over covid-19 losses

Business, Travel
Major carriers are now at risk of collapse over disruption in-flight services and regional restrictions on account of the coronavirus disease or covid-19 spread. The impact was felt harder by the airlines as the United States’ (U.S.) 30 days ban on all European carriers takes effect. The Founder of Virgin Group, Richard Branson, at the weekend turned to the British Government to seek £7.5 billion in credit facilities for the airline industry. This is to shore-up its and other companies finances, as the fall-out from covid-19 starts to bite. Air France-KLM airlines also took more strategic measures, drawing a revolving credit facility for a total amount of €1.1 billion and €665 million. India’s aviation and tourism industries are seeking help from the government to mitigate the fi...
Tough times ahead as covid-19 slows air cargo movement

Tough times ahead as covid-19 slows air cargo movement

Travel
The International Air Transport Association (IATA) yesterday said tough times await global economy as coronavirus disease spread and attendant flight disruptions restrict cargo movement. IATA said though the February estimates would show the real picture, global freight movement in January already recorded 3.3 per cent dip. Amid worldwide decline, African carriers posted the fastest growth of any region for the 11th consecutive month in January 2020, with an increase in demand of 6.8 per cent compared to the same period a year earlier. Growth on the smaller Africa-Asia trade lanes, up 12.4 per cent in 2019, contributed to the positive performance. Capacity grew 5.9 per cent year-on-year. Global air cargo decreased for the tenth consecutive month in January, ...
The traditions of primitive cultures in black & white

The traditions of primitive cultures in black & white

Politics, Travel, Uncategorized, What's Hot
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Haruki Murakami thrills us again with his latest novel

Haruki Murakami thrills us again with his latest novel

LifeStyle, Travel, Uncategorized, What's Hot
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Unreal moments of the familiar cities

Unreal moments of the familiar cities

Entertainment, LifeStyle, Travel, Uncategorized, What's Hot
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Discover Little Known Secrets For Successful Living

Discover Little Known Secrets For Successful Living

Travel, Uncategorized, What's Hot
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Artificial intelligence really close to replacing artists?

Artificial intelligence really close to replacing artists?

Breaking News, Politics, Travel, Uncategorized, What's Hot
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Trisha suffer accidental in cross country skiing

Trisha suffer accidental in cross country skiing

Entertainment, Sports, Travel, Uncategorized
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