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Airbus scraps A380 superjumbo jet as sales slump

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European aircraft manufacturer Airbus has pulled the plug on its struggling A380 superjumbo, which entered service just 12 years ago. Airbus said last deliveries of the world’s largest passenger aircraft, which cost about $25bn to develop, would be made in 2021. The decision comes after Emirates, the largest A380 customer, cut its order. The A380 faced fierce competition from smaller, ...

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EU adds Saudi Arabia to dirty-money blacklist, upsets UK, U.S

EU

The European Commission added Saudi Arabia, Panama and four U.S. territories to a blacklist of nations it considers a threat because of lax controls on terrorism financing and money laundering, the EU executive said on Wednesday. The move is part of a crackdown on money laundering after several scandals at EU banks, but it has been criticised by several EU ...

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Brexit: US ambassador to UK Johnson warns on trade deal

trump

Donald Trump’s offer of a “quick, massive, bilateral trade deal” will not be possible if Theresa May’s EU withdrawal agreement is approved, the US ambassador to the UK has warned. President Trump had previously said her Brexit proposal sounded like a “great deal for the EU”. Woody Johnson told the BBC the UK was “in need of leadership” over Brexit. ...

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Nigeria’s first gold refinery to triple capacity in 5 years

File Photo

Nigeria’s first gold refinery is expected to more than triple its capacity within five years after operations begin next June, an executive at the company developing it said on Tuesday. Nere Teriba, vice chairman of local firm Kian Smith Trade & Co, said the refinery would initially be able to produce three tonnes per month of gold and one tonne ...

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Dubai launches first commercial 5G wireless network

5G

Dubai is set to lead the world’s path to the use of 5G network. This is in line with the country’s vision of becoming a global reference point for technology innovation. The new 5G technology will be rolled out by Etisalat. The system which was launched in May 2018, makes Etisalat the first telecom operator in the Middle East and ...

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World Bank announces $200 billion for Climate Action

World-Bank-news

The World Bank Group today announced a major new set of climate targets for 2021-2025, doubling its current 5-year investments to around $200 billion in support for countries to take ambitious climate action. The new plan significantly boosts support for adaptation and resilience, recognizing mounting climate change impacts on lives and livelihoods, especially in the world’s poorest countries. The plan ...

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ECOWAS to introduce new certification mark for export products

ecowas-logo

Traders seeking to export products from Ghana to other states within the ECOWAS region, will from March 2019 need a certification mark from ECOWAS for their products to be recognized as authentic and of good quality. The certification mark which is called the ECOMARK would be provided to all 15 ECOWAS countries for it to be issued to traders by ...

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Kweku Adoboli, ex-UBS trader deported to Ghana

Former-UBS trader Kweku Adoboli

Kweku Adoboli, the former UBS trader convicted of fraud, has been deported to Ghana, despite a long campaign to keep him in Britain. His lawyer confirmed he was flown out of Heathrow Airport in the evening of November 14th, 2018 after being detained in Scotland on Monday. Adoboli, aged 38 and who has lived in the UK for 26 years, ...

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UK economy grows at fastest rate since late 2016

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The UK economy grew by 0.6% in the three months to September, with warm weather boosting consumer spending, the Office for National Statistics said. The figure for the third quarter is in line with predictions from the Bank of England and other forecasters. However, buoyant growth in July was offset by a slowdown in August and September. It is the highest ...

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Nigeria’s central bank revokes license of Skye Bank

CBN-Central-Bank-Nigeria

The Central Bank of Nigeria (CBN) has revoked the licence of Skye Bank Nigeria Plc. CBN Governor and the Managing Director of the Nigeria Insurance Deposit Corporation (NDIC), Godwin Emefiele, disclosed this on Friday at a media briefing in Lagos. He also announced the change in the name of Skye Bank to Polaris Bank which takes over the bank. He ...

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