WFE: $25tri Wiped Off Global Stock Markets

WFE: $25tri Wiped Off Global Stock Markets

New data published by the World Federation of Exchanges (WFE), the global industry group for exchanges and central clearing counterparties, indicates that $25 trillion was wiped off global stock markets in 2022.City Business News reports that WFE’s Financial year 2022...
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Pfizer Stakes $43b On Seagen  

Pfizer Stakes $43b On Seagen  

Pfizer, the pharmaceutical giant, has entered a merger agreement with Seagan Inc., a global biotechnology company, for $43 billion or $229 per share. Seagan discovers, develops and commercialises cancer medicines. The companies expect to complete the merger in...
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<strong>Qatar Airways Cargo Celebrates International Women’s Day With All-Female Flight</strong>

Qatar Airways Cargo Celebrates International Women’s Day With All-Female Flight

Qatar Airways Cargo celebrated International Women’s Day with a scheduled Boeing 777 freighter from Doha to Shanghai operated entirely by crew  made up of women.  A statement explained that from the ground staff overseeing and handling the cargo, t...
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Brazil, Luxembourg Join International Chamber Of Shipping

Brazil, Luxembourg Join International Chamber Of Shipping

The International Chamber of Shipping (ICS), representing over 80% of the world’s merchant fleet, has announced FEDIL Shipping, Luxembourg and the Brazilian Association of Cabotage Owners as affiliate members of the associations.  FEDIL Shipping acts as...
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India Bans Oil Tankers Older Than 25 Years

India Bans Oil Tankers Older Than 25 Years

India is ramping up efforts aimed at modernizing its fleet and is reviewing the requirements of the registration and operation of ships to ensure the quality of the Indian flag. As a result, the country is withdrawing trading licenses to...
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US Nominates Banga To Lead World Bank 

US Nominates Banga To Lead World Bank 

United States  President, Joe Biden has named Indian-American businessman Ajay Banga as the US pick to lead the World Bank.  The move comes as the US increases pressure on the bank to put more emphasis on tackling climate change.  Mr Banga....
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U.S.-Africa Trade Council Holds Global Summit In October

U.S.-Africa Trade Council Holds Global Summit In October

The U.S.-Africa Trade Council (USAfriTC), along with partner organizations across Africa, United Kingdom and United States, is to hold the next edition of the U.S.-Africa Trade and Investment Global Summit (USATIGS) on October 18-21, 2023, in Atlanta, Geo...
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FG To Unveil Carbon Tax  

FG To Unveil Carbon Tax  

The federal government has concluded plans to unveil a carbon tax policy and budgetary system to enhance revenue generation in the country.  The Director-General of the National Council on Climate Change (NCCC), Salisu Dahiru, made this known on Monday wh...
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Maersk Explains $29.3b 2022 Profit, Assigns $11b For Integration, Decarbonization 

Maersk Explains $29.3b 2022 Profit, Assigns $11b For Integration, Decarbonization 

Foremost Container shipping heavyweight, A.P. Moller – Maersk has reported exceptional financial results for the year 2022.  Despite the abnormal market conditions caused by the COVID-19 pandemic, the company reported solid performance across all its bu...
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World’s Largest Containership Squeezes Through Suez Canal 

World’s Largest Containership Squeezes Through Suez Canal 

Evergreen’s giant 24,000 TEU containership, Ever Acme has transited the Suez Canal while on its maiden voyage from Malaysia to the Netherlands.  The ship is the newest addition to Evergreen’s A-type vessel series and can carry over 24,000 co...
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INEOS GRENADIER PARTNERS COSCHARIS MOTORS IN NIGERIA 

INEOS GRENADIER PARTNERS COSCHARIS MOTORS IN NIGERIA 

INEOS Automotive has named Coscharis Motors as its official retail partner in Nigeria.   A statement sent to City Business News explained that Nigeria  is now the sixth market in Sub-Sahara Africa to join the INEOS Automotive brand, followi...
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Bermuda Stock Exchange To Host WFE Annual Meeting In 2023  

Bermuda Stock Exchange To Host WFE Annual Meeting In 2023  

The World Federation of Exchanges (WFE) has announced Bermuda Stock Exchange (BSX) as host of the industry’s General Assembly & Annual Meeting in 2023.   A statement sent to City Business News explained that the meeting, now in its 62...
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CAN Mourns Pope Benedict XVI 

CAN Mourns Pope Benedict XVI 

Pope Benedict XVI positively influenced people across religious divides all over the world during his life time, the Christian Association of Nigeria (CAN) has declared.   The apex Christian body in Nigeria stated this in its condolence message over ...
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<strong>LNG Insurers Scramble To Retain War Cover  </strong>

LNG Insurers Scramble To Retain War Cover  

Japan, the world’s top importer of LNG, is working with marine insurers in the country to ensure LNG imports from Russia are not jeopardized in the wake of the latest sanctions against Moscow.  Already, three companies from Japan, Tokio Marine...
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