IFC Invests $13m to Support Ecotourism, Conservation in Sub-Saharan Africa

Travelers, having experienced the high standards set by Dubai, are on the lookout for new Middle Eastern destinations that bring together both business and leisure. Ras Al Khaimah emerges as a rapidly growing Emirate, presenting itself as an attractive, cost-effective alternative to Dubai. Located just 45 minutes away from Dubai’s International Airport, Ras Al Khaimah boasts luxury shopping centers, breathtaking sceneries, and historical sites, catering to diverse traveler preferences. Let’s delve into the factors fueling Ras Al Khaimah’s metamorphosis and the rising prominence of its tourism. The Tourism Development Authority In 2011, the Ras Al Khaimah government founded the Ras

By Modupe Gbadeyanka The Nigeria Air project of the immediate past administration of President Muhammadu Buhari has been suspended by the current government of Mr Bola Tinubu. The suspension of the national carrier project was carried out by the Minister of Aviation and Aerospace Development, Mr Festus Keyamo, who served in the previous administration as the Minister of State for Labour and Productivity. Speaking during a tour of the Murtala Muhammed International Airport (MMIA) in Lagos, Mr Keyamo also announced the suspension of the concession of the airports. He said both the suspension of the Nigeria Air project and the

By Modupe Gbadeyanka All the employees of Azman Air except for a few senior executives have been sent on compulsory after the management suspended the company’s operations. The leave is without pay, according to a circular issued to members of staff, signed by the Human Resources Manager, Magaji Mohammed Misau. According to Leadership Newspaper, the airline operator took this step because its Boeing 737 aircraft taken abroad for C-check maintenance was yet to return. This has rendered the organisation’s commercial operations useless, especially after the conclusion of the Hajj operations last month. “As you are aware that our domestic operations

By Adedapo Adesanya  The Federal Ministry of Aviation says it will collaborate with the United States on direct flights to Texas in a bid to expand the horizon of the aviation industry and deepen the bilateral relations with the world’s largest economy. The Permanent Secretary, Mr Emmanuel Meribole, said this during a visit to the Ministry by a delegation from the United States led by the Mayor of Houston, Texas, Mr Sylvester Turner, on Tuesday in Abuja. The ministry promised the US delegation that the Federal Government of Nigeria would work on its requests for direct flights from Nigeria to

By Dipo Olowookere The sum of N6.4 billion is to be shared between the Kwara State government and the 16 local government areas of the state. This money was given to the state and local governments as part of their share from the federation account for May. A statement released on Wednesday by the Permanent Secretary in the Ministry of Finance in Kwara State, Mr Benjamin Fatigun, disclosed that while the state government is getting N3.7 billion from the amount, the 16 local governments will share N2.7 billion. Mr Fatigun disclosed further that the N3.7 billion received this month was

By Investors Hub Asian stocks turned in a mixed performance on Monday as oil resumed its ascent, Intel reported record quarterly revenue and the U.S. dollar steadied after recent weakness on concerns about trade. Chinese stocks fell the most in over two months as investors took profits after recent strong gains. The benchmark Shanghai Composite Index dropped 34.63 points or 1 percent to 3,523.50, while Hong Kong’s Hang Seng Index fell 187.23 points or 0.6 percent to 32,966.89. Wynn Macau shares were down almost 6 percent following a report detailing sexual misconduct from casino magnate Steve Wynn. Japanese shares ended

By Dipo Olowookere Chairman of Guaranty Trust Bank (GTBank) Plc, Mrs Osaretin Demuren, has assured shareholders that the lender will continue to deliver good returns to them. Mrs Demuren gave this assurance at the bank’s 28th Annual General Meeting (AGM) held this week in Lagos. She said given the gains recorded in 2017 and continuing improvements in key macro-economic indicators, it was expected that the monetary and fiscal authorities would consolidate on the 2017 gains in 2018. According to her, GTBank will continue to take advantage of huge openings in the market to come up with good yields like the

By Modupe Gbadeyanka President Muhammadu Buhari has revealed to Nigeria what he plans and dreams for the country despite what people think about him. Mr Buhari, speaking at the opening ceremony of the 22nd Nigerian Economic Summit (NES) in Abuja, said he was doing everything possible to make Nigeria work again. According to the President, Nigeria needs to diversify her economy and not rely on crude oil alone again. The President, while declaring the occasion open on Monday at the Transcorp Hilton Hotel, said he dreams of Nigeria with an export economy in goods and services. “We need to diversify

By Adedapo Adesanya Brent fell below $80 per barrel as economic indicators raised fears and concerns about higher interest rates amid Europe’s plans to continue restricting Russia. The international crude benchmark depreciated by $2.23 or 2.7 per cent to $79.94 a barrel, as the US West Texas Intermediate crude (WTI) pointed south by $2.49 or 3.3 per cent to trade at $73.39 per barrel. Prices fell to over three-week lows in a volatile session after strong US jobs data raised concerns about higher interest rates and as investors sought more clarity on the imminent EU embargo on Russian refined products.

By Modupe Gbadeyanka The Emirates Group this week announced its 30th consecutive year of profit and steady business expansion. In its 2017-18 Annual Report released on Wednesday, the Emirates Group posted a profit of AED 4.1 billion (US$ 1.1 billion) for the financial year ended 31 March 2018, up 67% from last year. The Group’s revenue reached AED 102.4 billion (US$ 27.9.billion), an increase of 8% over last year’s results, and the Group’s cash balance increased by 33% to AED 25.4 billion (US$ 6.9 billion) supported by the bond issued in March and strong sales due to the early Easter

By Modupe Gbadeyanka Lagos State government has restated its stance on clean and safe water provision to every resident of the state, assuring that it will not compromise its position or accept water production below acceptable standards from any water producing company. Executive Secretary of the Lagos State Water Regulatory Commission, Mr Kabiru Abdullahi, reiterated this while addressing the National and State executives of the Association of Table Water Producers in Nigeria when the association paid a courtesy visit to the commission in Alausa, Ikeja on Tuesday. He maintained that “quality water production is the standard set by this government

By Adedapo Adesanya  Brent went down by 1.2 per cent or $1.02 on Tuesday to $83.05 per barrel as concerns about global economic growth outweighed supply curbs and an expected bounce in the European economy. Also, the US West Texas Intermediate crude (WTI) depreciated by 0.2 per cent or 18 cents to settle at $76.16 per barrel. Earlier in the session, the market rallied, with Brent briefly turning positive after better-than-expected business activity surveys in Europe and Britain pointed to a less gloomy European economic outlook than previously feared. According to a survey on Tuesday, there was enough evidence to