Transcorp Hotels Posts Frail HY’19 Results as PAT Falls by 60%

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 On October 24, 2023, stakeholders in the tourism industry will gather at the Victoria Yards in Johannesburg, South Africa for the Airbnb Africa Travel Summit to discuss the role of technology in inclusive and sustainable tourism in Africa. A statement from the organisers disclosed that over 200 policymakers, tourism experts, innovators and changemakers are expected at the event, which will have the Minister of Tourism, Ms Patricia de Lille, opening the conference, with Afua Osei, co-founder of She Leads Africa, moderating, and actress and activist, Zozibini Tunzi, presenting the final keynote. Also, the founder of Tech Cabal,

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 Adedapo Adesanya The visa ban placed on Nigerian travellers by the United Arab Emirates (UAE) has been lifted after President Bola Tinubu held talks with the leader of the United Arab Emirates (UAE), Mr Mohamed bin Zayed Al Nahyan, on Monday in Abu Dhabi. According to Mr Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, both countries finalised a historic agreement, which has resulted in the immediate cessation of the visa ban placed on Nigeria. “Furthermore, by this historic agreement, both Etihad Airlines and Emirates Airlines are to immediately resume flight schedules into and out

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange ended the last trading session of the week in green, with a 0.03 per cent rise on Friday, January 27. The improvement was spurred by the 7 Kobo increase in the share price of Geo-Fluids Plc, which closed at 98 Kobo per unit compared with the previous day’s 91 Kobo per unit. As a result, the market capitalisation of the alternative stock exchange moved up by N300 million to settle at N924.06 billion, in contrast to Thursday’s value of N923.76 billion. Equally, the NASD Unlisted Securities Index (NSI) rose by 0.32

By Kester Kenn Klomegah With the never-ending Russia-Ukraine crisis, Europe now turns to Africa for its energy needs. Notwithstanding the distance, European Union members have set their eyes on African oil and gas producing countries that could be potential alternative suppliers. In the latest research developments, Italy becomes one more EU member closely coordinating with Algeria, Angola, Equatorial Guinea, Egypt, Nigeria and Mozambique. During the first Russia-Africa summit, a number of African countries were soliciting Russia’s assistance in exploring their oil and gas reserves in Africa. Some agreements were signed with Russian companies such as Bashneft, Gazprom Neft, Lukoil, Rosneft

By Dipo Olowookere Following the announcement of a proposed merger between Diamond Bank and Access Bank, renowned rating agency, Fitch Ratings, has placed both Nigerian lenders on its rating watch. In a statement issued by Fitch, it said Diamond Bank’s Long-Term Issuer Default Rating (IDR) has now been downgraded to ‘CC’ from ‘CCC’ and Viability Rating (VR) to ‘cc’ from ‘ccc’ and placed its IDRs and VR on Rating Watch Evolving (RWE). The agency also simultaneously placed Access Bank Plc on Rating Watch Negative (RWN). It explained that the downgrade of Diamond Bank’s ratings reflects the deterioration in the bank’s

By Quantitative Financial Analytics The Securities and Exchange Commission (SEC) just released its latest compilation of mutual funds NAV. As projected by analysts at Quantitative Financial Analytics, the combined net asset value of Nigerian mutual funds has crossed the N400 billion mark. How the NAV got so big is a discuss of another article, however, fund type analysis of the mutual funds’ assets points to one troubling indication. That analysis, which was based on the NAV Summary report as at November 24th, 2017, indicates that slightly over 67 percent of mutual fund assets is invested in money market funds, 11.33

By Dipo Olowookere Federal Government has inaugurated health coordination units across the federation with 34 states already having Logistics, Management Coordination Units (LMCU) in their local government areas. This is mainly to take quality healthcare service closer to Nigerians. The inauguration was done by the Nigeria Supply Chain Integration Project (NSCIP) of the National Products Supply Chain Management Programme in the Federal Ministry of Health. It is believed that the local government level remains very critical in providing staff who help make health commodities available according to the needs of facilities and also they provide direct leadership to facility staff

By Adedapo Adesanya The Lagos State Government has lauded Ecobank Nigeria for its active role to uplift the artisanal fisheries value chain in the state. This was made known by Ms Abisola Olusanya, the Commissioner for Agriculture in her remark at the presentation of 34 fibreglass boats with outboard engines and other ancillary fishing equipment to cooperative societies of 680 youth fishermen. She said the partnership with Ecobank has been phenomenal in helping to develop business models suitable for the fishermen, stating that the ministry was partnering with Ecobank and Old Mutual Assurance to provide banking services, track cash flow

By Dipo Olowookere Shareholders of Jaiz Bank Plc will receive dividend for the financial year ended December 31, 2019, the Islamic banking firm has confirmed. The decision to finally reward shareholders of the company after a long wait was reached at the meeting of the board of directors of Jaiz Bank held on Monday, March 16, 2020. Announcing outcome of the meeting, the non-interest financial institution said the actual amount to be paid would be disclosed when its audited accounts are released to the Nigerian Stock Exchange (NSE). But the lender emphasised in a notice to the NSE and signed

By Hyther Nizam With digital transformation picking up faster than ever before in the business landscape, most organisations today employ a mix of business tools to run their operations across sales, marketing, finance, HR, etc. More often than not, all of these tools include a reporting module that displays department-specific data records and statements. However, stand-alone data like sales figures, lead numbers, email open rates, and the like, can only tell you so much about customer behaviour. As businesses continue to go digital and become increasingly data-driven, it’s imperative for them to include a holistic business intelligence (BI) programme in