Thursday, February 25African Business News
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Tag: Earnings

Computer Village market operators claim N20b loss as lockdown order takes effect

Computer Village market operators claim N20b loss as lockdown order takes effect

Business
Though operators of the Computer Village market, Ikeja, Lagos may have complied with the state’s directive, which ordered the closure of some markets, they put the loss suffered by the market within the last three months at about N20 billion. Checks by The Guardian yesterday, showed full compliance, as all the entrance gates to the market were under lock and key. Some of the operators that spoke with The Guardian said their health remains a priority, “so we support the shut down of the market until things normalise. However, since the discovery of this pandemic and spread, almost three months now, we have lost billions of Naira.” Specifically, the Public Relations Officer, Computer and Allied Products Dealers Association of Nigeria (CAPDAN) Olaifa Ademola, told The Guardian that ...
Maersk Warns of Lower Earnings From Coronavirus Impact

Maersk Warns of Lower Earnings From Coronavirus Impact

Logistics
The world’s biggest container ship operator says efforts to hold back the spread of the virus are weighing on both China’s exports and imports. A.P. Moeller-Maersk A/S is facing a weak year as the coronavirus outbreak takes a toll on shipping volumes and freight rates after broader market conditions sent the Danish shipping giant to an unexpected fourth-quarter loss. The world’s biggest container ship operator said Thursday it has canceled dozens of sailings out of China since late January as factories there were closed for an extra week after the Lunar New Year and struggled to resume production. Maersk Chief Executive Soren Skou said in an interview that quarantines and travel restrictions aimed at containing the spread of the virus have had “a huge impact” on China’s export vol...