Category: International

India Bans Oil Tankers Older Than 25 Years
March 1, 2023 No Responses

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 
February 24, 2023 No Responses

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
February 18, 2023 No Responses

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  
February 14, 2023 No Responses

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 
February 9, 2023 No Responses

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 
February 7, 2023 No Responses

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 
January 31, 2023 No Responses

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  
January 13, 2023 No Responses

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 
January 1, 2023 No Responses

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>
December 31, 2022 No Responses

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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Dozens Dead As Freeze Grips North America
December 26, 2022 No Responses

Dozens Dead As Freeze Grips North America

At least 38 deaths have now been linked to a severe Arctic freeze that continues to pummel the US and Canada.  Officials say 34 people died across the US, with the worst-hit area being the city of Buffalo, in New...
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Maersk Settles Sexual Assault Litigation 
November 25, 2022 No Responses

Maersk Settles Sexual Assault Litigation 

Maersk Line Limited (MLL), a wholly-owned subsidiary of A.P. Moller – Maersk, has settled litigation with Hope Hicks, a former midshipman on the Maersk Line’s ship Alliance Fairfax, filed against the company in New York Supreme Court in June for...
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IMO Scribe Harps On Nigeria’s Strategic Role In Global Economy  
November 21, 2022 No Responses

IMO Scribe Harps On Nigeria’s Strategic Role In Global Economy  

By Moses Ebosele, ebosele@hotmail.com   The Secretary General of the International Maritime Organization, Kitack Lim has described Nigeria as a very important country not only to Africa, but to the global economy.   City Business News reports ...
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Global Food Imports To Hit $2tri 
November 12, 2022 No Responses

Global Food Imports To Hit $2tri 

Food import costs globally are projected to reach nearly two trillion dollars this year, or higher than previously expected, the UN Food and Agriculture Organisation (FAO) has said.  FAO, in a report published on Friday, stated that the new forecast...
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