The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has again reiterated the need for skilled manpower to spearhead the development of the Nigerian maritime industry. The DG said this when he led a delegation to a meeting with the United States Commercial Service, West Gulf Maritime Association and the Texas Southern University, Houston at the University’s campus recently. Dr. Peterside who highlighted the potentials of the Nigerian market including the vastness of its coastline and huge population called for greater collaboration with Nigeria’s international partners to grow skilled indigenous manpower for the development…
Author: Pride Team
Apple has lost control of the iPhone trademark in China, meaning that another company can continue selling products with the smartphone’s name on them. A Beijing court said Apple wasn’t able to prove that iPhone was a “famous brand” in China, before a local company applied for a trademark in 2007, the year the phone was released. That means that the ownership of the name is still with the local Xintong Tiandi Technology Company. The decision came in late April and means that the Chinese company can keep using the name on mobile phone cases, wallets, handbags and other leather…
A new currency printed by Zimbabwe’s central bank to ease a cash shortage has drawn scorn from critics attacking it as signalling a return to the hated local dollar, abandoned seven years ago as inflation spiralled to 500 billion percent. The central bank will distribute units with face values ranging from two to 20 dollars, pegged to the US currency, Governor John Mangudya said on Wednesday, describing them as “bond notes” that add to bond coins already in circulation. Banks have limited cash withdrawals and shut down some ATMs in Zimbabwe, where residents use a mix of currencies including the…
South Africa’s competition watchdog has granted an extra five days to study Anheuser-Busch InBev’s planned $106 billion takeover of SABMiller – a fifth extension that could delay the consumer industry’s biggest ever deal. “There are several outstanding issues that should be considered. The merging parties are aware of these issues, and hence they have consented to the extension,” Competition Commission spokesman Itumeleng Lesofe told Reuters. The Commission was due to finish its investigation on Thursday, after it was granted a 15-day extension. It has already extended the deadline four times. The new deadline expires on May 12. Drawn-out scrutiny by…
World stocks fell for the second straight day on Wednesday and metals prices declined, pressured by signs of a renewed and prolonged global growth downturn. A deluge of lacklustre manufacturing data from across the world set off this week’s selling spree, notably Chinese factory activity shrinking for the 14th straight month, British output at three-year lows, Tuesday’s surprise interest rate cut in Australia and the European Commission downgrading growth and inflation forecasts. Adding to this, corporate earnings have been consistently undershooting expectations – US S&P 500-listed companies’ first quarter earnings are down 5.4 percent versus year-ago levels and are set…
SABMiller and Coca-Cola had agreed to invest R800 million to support small South African businesses in a deal with the government to secure antitrust approval to create Africa’s biggest soft drink bottling operation. Jobs would be retained in South African plants three years post the approval of the merger and the shedding of senior management posts would be limited, SABMiller and Coca-Cola said. The deal between the two companies has been in the pipeline since November 2014, when SABMiller, which is on the verge of being taken over by Anheuser-Busch (AB) InBev, teamed up with Coke to create Coca-Cola Beverages…
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Economic growth in Nigeria and other countries in the sub-Saharan Africa will likely slow this year to its weakest in nearly two decades, hurt by a slump in commodity prices, the Ebola virus outbreak and drought. IMF says the region would likely grow 3 per cent this year – the lowest rate since 1999 – after expanding by 3.4 per cent in 2015. It said major oil exporters Nigeria and Angola were hardest hit by the slump in commodities prices, as were Ghana, South Africa and Zambia. In its African Economic Outlook, the Fund said the region would likely grow…
Lagos State Governor, Mr. Akinwunmi Ambode on Thursday expressed optimism that the newly amended laws on the Local Government system in the state would bring about a massive reform in the third tier of government, which would in turn translate into a renaissance to create prosperity and good governance for the people. Governor Ambode, who spoke at the Lagos House, Alausa during the signing ceremony of three amended laws, described the Local Government as unarguably the most critical level of governance in the State, a development which he said necessitated the need for the reforms. The newly signed amended laws…