Business

UN Unveils Fresh Initiative to Help Developing Countries Build Trade Resilience amid COVID-19 Crisis

The project which was launched in May will implement UN solutions, standards, guidelines, metrics, tools and methodologies.

Rystad Energy Projects Total Oil Demand in 2020 to Fall to 88.1 Million BPD as US Inventories Rise

Its estimates show that total oil demand in 2019 was approximately 99.5 million BPD, which is now projected to fall to 88.1 million BPD in 2020.

ILO: COVID-19 Pandemic Affects Youths Disproportionately

ILO says more than one in six young people have stopped working since the onset of the COVID-19 pandemic while those who remain employed have seen their working hours cut by 23 per cent.

COVID-19 Crisis: What We’ve Been Doing Backstage, By ILO’s Director

we have developed a number of tools for EBMOs to use with their members, ranging from ways of dealing with COVID-related workplace issues

COVID-19 Crisis Gives Fresh Impetus to Kiribati’s ICT, e-Commerce Efforts

Access to financing is also limited as the country’s small banking system is not well-positioned to fully cater to the needs of the private sector through business lending.

Latest UNCTAD Report Says Merciless COVID-19 Cuts Global Trade Values in 2020 Q1

UNCTAD will release a new monthly trade nowcast, which will provide quarterly nowcasts for merchandise trade.

Tourism Has Collapsed Globally, UNCTAD Experts Say, Offer Policy Options

For all tourism actors, training programmes should go beyond tourism to alleviate the dependence on tourism and spearhead economic diversification.

Construction Sector Holds the Key to Kick-starting COVID-19 Ravaged Economies, ILO’s Specialist Says

’In most other sectors of the economy, the government is reliant on the private sector is willing to hire extra workers and cover their share of the costs.

ILO Expert Faults Online Platforms, Tools

we need to think about the “new” skills required by industry and employers post-COVID-19 to get people back into employment quickly.

UNCTAD’s Scribe, Kituyi Outlines How to Rejuvenate Global Economy, Trade

we must be very cautious that the uneven access and opportunities afforded by digital technologies do not become a bigger problem as they grow in popularity.

UNCTAD’s Report on Blue Economy Says COVID-19 Crisis Favours Fishing Industries

measures to curb the spread of the pandemic have hit fishers real hard.

Angola Moves to Regain Lost Glory as Top Coffee Exporting Country

We shouldn’t produce more coffee just for the sake of it”, he said. “It’s important to have in mind how much value we could get.

COVID-19 Crisis Compelling Countries to Allow Critical Goods, Services, UNCTAD Says

... the country’s disease control agency has reported six new deaths from COVID-19, thus bringing the tally to 158 nationwide.

COVID-19 Pandemic: Countries are Initiating Investment Policies- UNCTAD

The Nigeria Centre for Disease Control (NCDC) reported 242 new confirmed cases of the virus and seven deaths as of Monday night.

COVID-19 Will Impair LDCs’ Ability to Rebuild their Societies, Says ILO’s Investment Expert

The economies of LDCs, vastly impoverished nations were at a low level even before the coronavirus struck.

Access Bank denies closing branches, sacking staff

These rumours have justifiably raised concerns among the Bank’s stakeholders including employees, customers, shareholders and the general public

Zenith Banks Support Mobile Banking Transactions by Introducing Short Code

licensed mobile money number is a prerequisite for prospective customers

BREAKING: CBN stops banks from retrenching workers

After an alleged video of a town hall meeting between bank managing director Herbert Wigwe and workers, Access Bank has been trending in the media.

ILO Recommends COVID-19 Risk Assessments to Employers as Pressure Mounts to Ease Lockdown

ILO also wants all employers to ensure that their workplaces meet strict occupational safety and health criteria.

UK Extends Support for UNCTAD’s Work on Trade Facilitation Till 2022

The UK has supported UNCTAD’s trade facilitation programme since 2015.

COVID-19 Pandemic Taking Heavy Toll on Tourism Sector, UNCTAD Chief Says

The International Monetary Fund (IMF) created a $50 billion fund through its rapid-disbursing emergency financing facilities for low-income and emerging market countries.

COVID-19 Pandemic is Threatening Grocery Workers, Others’ Health, Livelihoods

The analysis also outlines the drastic measures taken by governments, employers and workers to contain the virus and limit the damage to enterprises, livelihoods and the wider economy.

COVID-19 Crisis ‘Sacks’ 1.6 Billion Informal Workers- ILO

As COVID-19 Pandemic Rages, Businesses in Senegal are Going Online

Other priority steps are establishing full interoperability of e-payment solutions and rolling out a massive sensitisation and a communication campaign on the benefits and risks associated with e-commerce.

Garment Industry Moves to Work with Governments to Tackle Effects of COVID-19

We cannot afford the human and economic devastation of the collapse of our global supply chains and millions more in developing economies thrown back into poverty

Like Oliver Twist, ILO Says G20’s Measures to Safeguard Jobs, Incomes Not Enough

Respecting workers’ fundamental rights and effective dialogue with workers’ and employers’ organisations is the only way to create a solid, equitable, global recovery, and ensure the public support needed to carry the measures through

COVID-19 Crisis: Fairtrade Outlines Why Chocolate Industry Must Support Cocoa Farmers

you will have your own ideas – let’s ensure farmers are part of the decision making.

UNCTAD’s eWeek Promises to Help the World Recover from COVID-19

UN Capital Development Fund will provide an update on its efforts to measure the inclusiveness of a digital economy

UNCTAD: Personal Services Sectors So Far Worse Hit By COVID-19 Pandemic

as developing countries continue to nurture exports of personal services as an important source of income, they need to fast-track and upgrade skills in knowledge-intensive ones such as those powered by ICT

ILO: National Statistical Offices Are Facing COVID-19 Challenges

Countries are also reviewing the content of their surveys to add questions that provide additional details on the ways in which people are impacted

Nigeria launches Cash and Crypto social payments software

Currently, only 1.4 million people out of 1.2 billion people in Africa use crypto

COVID-19 Is Forcing UNCTAD To Reassess Its Expectations

the international community needs to remain vigilant ...

With EU’s Support, UNCTAD Battling To Save Angolan Economy

UNCTAD is supporting, through a project funded by the European Union, the Angolan government’s efforts to diversify the economy.

Miners Sell BCH for BTC after Halving as Bitcoin Futures Open Interest Allows U-Turn

Bitcoin Cash had its halving case on April 8, cutting the reward of miners from 12.5 to 6.25 by 50 per cent.

CBN Demands N10,000 From Small Business Owners Applying For COVID-19 Intervention Fund

NISRAL insisted in an email to applicants that payment of the mandatory fee for a "business plan connection" was the only way it would review business applications in desperate need of help.

Nigeria, others to get AfDB loan of $10bn

The setting up of the facility required a collective effort and courage by all our staff, the board of directors and our shareholders

Zenith Bank of Nigeria launches automated voice banking services

The launch is in line with lockdown steps that many states have implemented to curb coronavirus spread (COVID-19).

CEOs of Jumia Slash Salaries, Support Workers

The CEOs, Jeremy Hodara and Sacha Poignonnec, pledged to cut their respective salaries by 25 per cent during the COVID-19 crisis to support the company.

Reps summon MTN, GLO, 9Mobile CEOs, others over alleged $30bn tax fraud

The current parliamentary discovery is a major revelation considering that the figure by far outstripped the conservative estimate given by the Federal Inland Revenue Service (FIRS) boss, Muhammad Nami, in early February when he noted that the country was losing N3.7 trillion every year to profit shifting.

UNCTAD Moves to Boost Sustainable Blue Economy, Names Special Adviser