Travel/Tourism
Free Float: Transcorp Hotels Gets 3-Year Grace to Comply

By Dipo Olowookere
The National Council of the Nigerian Stock Exchange (NSE) has given Transcorp Hotels Plc till October 2023 to comply with the 20 per cent free float.
The three-year extension is to avert the possible banning of the shares of the company on the exchange’s trading platform because of the violation of one of the listing rules.
Business Post reports that companies trading their stocks on the NSE are required to allow 20 per cent of their shares to be with the investing public.
According to the rules, failure to adhere to this can force the exchange to suspend trading in the equities of the violating company, though this action is usually taken if the said organisation has not shown a commitment on ways to address the issue.
On Thursday, the board of Transcorp Hotels notified the market that it has obtained the favour of the council of the NSE to have till October 2023 to comply with the free float requirements.
“The National Council of the Nigerian Stock Exchange approved the company’s free float compliance extension request of three years (ending October 3, 2023).
“This is to enable the company to comply with the exchange’s free float requirements of 20 per cent issued and fully paid share capital or N20 billion free-float market capitalisation for companies listed on its main board,” the hospitality firm said in the notice.
In the disclosure, Transcorp Hotels said it “remains strong and committed to good corporate governance and to delivering value to all its stakeholders.”
It further expressed confidence to “achieve and meet the free float requirements of the Nigerian Stock Exchange within the three years’ timeframe, ending October 3, 2023.”
Travel/Tourism
Emirates, Air Peace Seal Interline Deal for Frictionless Single-Ticket Travel

By Aduragbemi Omiyale
Two major airlines operating in the Nigerian airspace, Emirates and Air Peace, have signed an interline agreement to allow passengers enjoy frictionless single-ticket travel and simplified baggage throughput.
This deal will enable passengers flying from the United Arab Emirates (UAE) to Nigeria enjoy onward connections to Asaba, Akure, Benin City, Calabar, Enugu, Ilorin, Kaduna and Owerri, Abuja, Kano, Uyo, Port Harcourt and Warri.
Emirates operates the Dubai-Lagos route with a Boeing 777-300ER and some of its passengers continue their journeys to the above cities through other airlines, but with this interline agreement, when they land in Lagos, Air Peace will move them to the other cities with ease,
“Emirates is a steadfast partner of Nigeria’s tourism, trade and aviation sectors. This partnership with Air Peace is the next step on this journey, bolstering our connectivity and introducing more travel options for corporate leisure, and travellers visiting friends and family to and from Nigeria.
“We look forward to deepening our strategic partnership with Air Peace in the future to enhance the benefits for our mutual customers,” the Deputy President and Chief Commercial Officer for Emirates, Adnan Kazim, said.
Also commenting, the Chief Operating Officer of Air Peace, Ms Oluwatoyin Olajide, said, “We are excited about this strategic interline partnership between Air Peace and Emirates, which is a significant step towards enhancing global connectivity for Nigerian travellers.
“It aligns with our mission to provide seamless, world-class travel experiences while expanding our route network and international reach.
“This collaboration not only expands Air Peace’s international reach but also offers Nigerians arriving from Dubai seamless access to key domestic destinations, including Asaba, Akure, Benin City, Calabar, Enugu, Ilorin, Kaduna, and Owerri.
“By improving ease of travel, we are boosting business, tourism, and trade opportunities, further strengthening economic ties between Nigeria and the UAE.
“This partnership also reinforces Nigeria’s aviation sector by enhancing connectivity, efficiency and positioning our country as a critical hub for regional and global travel. At Air Peace, we remain committed to providing greater connectivity, convenience, and world-class service for our passengers.”
Travel/Tourism
Spanish Withdrawal to Fuel Demand for Greek Golden Visas

The latest forecast from Astons, suggests that the number of applicants looking to secure a Greek Golden Visa in 2024 is set to increase for the fourth consecutive year.
Astons has analysed data around the number of Greek Golden Visa applications submitted on an annual basis between 2019 and November 2024, before forecasting what 2024’s annual application total is set to be once December’s numbers are accounted for.
The analysis reveals that 2024 finished on a high when it comes to demand for Greek Golden Visas.
By November, the estimated total number of applications stood at 8,059, with Aston’s analysis revealing that 995 were submitted in October alone, 914 submitted in November, and a forecasted total of 778 submitted in December.
2024’s enormous demand for Greek Golden Visas was driven by investors looking to get in ahead of significant changes implemented to the scheme which increased the minimum investment threshold to €800,000 across the entire Athenian Riviera, Thessaloniki, and all major islands.
This isn’t the first time that changes to the Greek Golden Visa programme have resulted in surging levels of demand.
In 2023, Greece raised the threshold for real estate investment from €250,000 to €500,000 in the most attractive and developed regions of the country, including all of central Athens. However, in the Athenian Riviera, certain areas retained a threshold of €250,000, such as the Piraeus region.
As a result of this change, 2022 saw an annual increase of 118.5% in the number of Golden Visa applications, followed by a further +94.8% increase in 2023.
Who is driving demand for Greek Golden Visas?
The high demand for Greek Golden Visas over the past two years in particular is being driven by wealthy US citizens looking to spread their risks and opportunities beyond the borders of North America, with demand being particularly influenced by the increased investment thresholds implemented in 2024.
Astons estimates that Greece is the focus of at least 50% of all Golden Visa applications by US citizens, with investors drawn to the country by the lifestyle offering, not to mention the attractive minimum investment contribution – for which investors get five years of residency for the whole family with a right to renew at the end of that term.
Furthermore, Greece currently has one of Europe’s most lucrative property markets and best performing economies.
Citizenship, residence permit, and real estate investment expert for Astons, Alena Lesina, commented:
“Looking ahead to 2025, we believe that demand for Greek golden visas will remain robust despite the recent changes made. This is because it is still possible to purchase real estate and obtain a residency permit for as little as €250,000, even in the very heart of Athens, provided that the property in question is converted from commercial use to residential. As such, we’re seeing a lot of developers now buying old hotels and office buildings and transforming them into modern residential complexes, complete with stunning swimming pools and terraces.
Another reason to expect further growth in demand for Greek visas in 2025 is the fact that Spain is about to close its own Golden Visa programme which was itself hugely popular. With Spain no longer available to expats, it’s reasonable to expect that Greece, with its similar lifestyle offering and even more affordable accessibility, will become the focus of their attention.”
Travel/Tourism
Emirates Fetes Customers With Luxury Champagne, Menu

In the heart of Emirates’ busiest lounge in Dubai – the Concourse B Business Class Lounge in Terminal 3, Dubai International Airport, sits a one-of-kind experience – the Moët & Chandon Champagne Lounge.
Continuing Emirates and Moët Hennessy’s longstanding partnership of 32 years, the latest collaboration features a newly designed champagne and canapés pairing menu, curated over several months by Emirates master chefs and champagne experts from the house of Moët & Chandon.
Created and constructed exclusively for Emirates, the elegant Moët & Chandon Champagne Lounge features an eye-catching golden wave design adorned with 2,400 intricate gold leaves applied individually by hand.
Within the lounge, four of the finest Moët & Chandon champagnes are available, with latest collection launched last month featuring Moët & Chandon Impérial, Rosé Impérial, Nectar Impérial and Grand Vintage 2013.
Before boarding a flight, Emirates customers are invited to relax in the lounge, and transform their waiting time into a learning experience and exploration of the pairing of iconic champagne and meticulously crafted cuisine. Customers will be able to sample and explore the pairings, which were crafted based on three principles;
Minimalist ingredients with maximum impact – Emirates chefs prioritized using high-quality, seasonal ingredients to create a symphony of flavours without overwhelming the palate.
This approach allows the natural notes of the champagne to shine through and creates a more balanced dining experience, like the signature foie gras offering which features only three components: brioche, foie gras, and fig. This allows each ingredient to play its part, highlighting the richness of the foie gras with the sweetness of the fig and the buttery base of the brioche.
Flavour harmony – Emirates and Moët & Chandon have carefully considered the flavour profiles of both the champagne and the canapés, ensuring they complement each other seamlessly, like incorporating berries or citrus that echo the fruit notes in the champagne, or balancing creamy textures with a touch of acidity.
Visual appeal – The pairing experts from Emirates and Moët & Chandon believe food should be a feast for the eyes as well as the taste buds and took pride in crafting visually stunning canapés that are meticulously arranged and plated, adding to the immersive experience.
The first Champagne guests are invited to sample is Moët Impérial Brut. With a striking nose of green apple and citrus, followed by mineral freshness and white flowers – this champagne is cellared for 24 months. It offers the blonde nuances of brioche, grains and fresh nuts, and its fine bubbles and subtle palate lends itself perfectly to seafood and pronounced acidity tempered by fat.
Emirates has paired Moët Impérial Brut with four individual dishes, which are served throughout the month; Salmon tiradito on calamansi leche de tigre, Grilled Obsiblue shrimps, watermelon and feta salad, Tuna tartare with fresh orange segment, or Scallop tataki.
The second Champagne featured is Moët Rosé Impérial, cellared for 21 months and offering an intense bouquet of red fruits, rose petals and florals, underscored by a hint of pepper. This cuvée pairs perfectly with colourful summer vegetables and fresh green herbs.
Emirates recommends trying Moët Impérial Rosé with four paired dishes, served throughout the month; Beetroot moutabel with akawi cheese and pine seeds, Fennel infused spinach and asparagus dip with grilled asparagus and yuzu pearls, Beetroot tartare with sesame seeds and dill or Bocconcini cheese with basil infused green melon and pine seeds.
The third recommended Champagne is the memorable Moët Grand Vintage 2013. Grand Vintage 2013 is a unique cuvée, benefitting from 7 years in the cellar and presenting soft autumnal notes, followed by a palate of ripe pear, grapefruit and toasted nuts. To enhance the delicacy of the Champagne, Emirates master chefs have paired Moët Grand Vintage 2013 with four bespoke dishes, served throughout the month; Foie gras on toasted brioche with fresh fig and Maldon salt, Duck rillette with chive mayonnaise, Foie gras on toasted brioche with quince and Maldon salt and Foie gras on toasted brioche with passionfruit, mango and Maldon salt.
The final Champagne featured in the pairing menu is the unique Moët Nectar Impérial, cellared for 18 months and featuring flavours of pineapple, mango, plum and apricot with a dash of vanilla. Ideally served with a sweet and fruity dessert, Emirates is serving Nectar Impérial with four dessert canapés, served throughout the month; Tropical crème, Mango trifle, Lemon cream pannacotta, and Blueberry cheesecake.
Access to the Moët & Chandon Champagne Lounge and new pairing menu is complimentary for all guests of the Concourse B Business Class Lounge in Terminal 3, Dubai International Airport.
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