Company news in brief

13 June 2018 | Economics

South African Airways plans deep cuts

Six months into the job of running loss-making South African Airways, Vuyani Jarana is mapping out a punishing austerity plan.

Jarana, who faces the daunting task of turning the flag carrier around, said layoffs and other cuts were unavoidable as he contends with a draining cost-to-income ratio of 108%.

“SAA cannot carry the same workforce, whether it is pilots, cabin crew or administration,” he told Reuters. “We have to make some tough decisions to save the airline. There cannot be sacred cows when it comes to SAA.”

-Nampa/Reuters

Airtel Kenya abandons plan to merge with Telkom

The Kenyan unit of Bharti Airtel has abandoned plans to merge with Telkom Kenya to take on the market leading operator Safaricom, industry and government sources said on Monday.

Sources said in April that Airtel and Telkom Kenya were planning to merge to create a stronger challenger to Safaricom, which has 72% of subscribers, or around 30 million subscriptions.

“Airtel developed cold feet,” said an industry source who declined to be named.

-Nampa/Reuters

Huawei patent case shows Chinese courts' rising clout

A smartphone patent fight between Huawei Technologies Co Ltd and Samsung Electronics Co could reach a global resolution through a ruling by a Chinese court, a development that reflects the growing attractiveness of China as a quick and effective forum for intellectual property disputes.

The size of the US market and the strength of the country’s independent judiciary have historically given its courts the final say in most big cross-border patent disputes. Legal experts say US courts’ pre-eminence in intellectual property matters has helped foster a culture of innovation that China wants to emulate.

-Nampa/Reuters

US reveals ZTE settlement details

ZTE Corp’s settlement with the US Commerce Department that would allow China’s No. 2 telecommunications equipment maker to resume business with US suppliers was made public on Monday, days after the company agreed to pay a US$1 billion fine, overhaul its leadership and meet other conditions.

But the ban on buying US parts, imposed by the department in April, will not be lifted until the company pays the fine and places US$400 million more in escrow in a US.-approved bank, the agency said.

ZTE did not immediately respond to requests for comment on Monday.

-Nampa/Reuters

Total signs deal to extend TFT gas field license in Algeria

French oil and gas major Total said on Monday that it had signed a new concession agreement with Algeria’s Sonatrach, Repsol and Alnaft for a 25-year extension of their Tin Fouyé Tabankort (TFT) gas and condensate field license.

It said the agreement would give Total a 26.4% stake in the project. Sonatrach will hold 51% and Repsol 22.6%.

The partners will carry out the drilling and development investments required to develop additional reserves estimated at more than 250 million barrels of oil equivalent, Total said in a statement.

-Nampa/Reuters

Similar News

 

Further US rate hikes 'most likely' needed

11 hours ago | Economics

Washington - US central bankers see no reason to pause their current course of gradual interest rate hikes amid the American economy's brisk expansion, according...

Africa in brief

1 day - 18 October 2018 | Economics

SA Treasury says recession, falling revenue hurt public financesFalling revenues and a recession mean South Africa will struggle to finance public services, the National Treasury...

US tops global competitiveness ­rating, despite 'worrying' trends

1 day - 18 October 2018 | Economics

Geneva - The United States has the world's most competitive and innovative economy, a World Economic Forum ranking showed yesterday, after a methodology shift helped...

MTC upgrades Gross Barmen network

1 day - 18 October 2018 | Economics

The ongoing plans by the Mobile Telecommunications Limited (MTC), the premier telecommunications solutions provider MTC to expand network services in both rural areas and urban...

Plundered into poverty

2 days ago - 17 October 2018 | Economics

The country's raw materials continue to benefit foreign multinationals and a handful of locally connected tenderpreneurs.Despite the government's undertaking to promote 'Growth at Home' to...

Buy-A-Brick initiative targets 1000 houses

2 days ago - 17 October 2018 | Economics

These houses are meant for Namibians in the low-­to-no income groups after ­co-partners in the private sector expressed interest in funding the ­programme. Standard Bank...

Namibian delegation to explore market potential in Ghana

3 days ago - 16 October 2018 | Economics

A 20-member Namibian delegation left for Accra, Ghana on Sunday to meet with various industries and missions to explore market potential between the two countries....

Africa briefs

3 days ago - 16 October 2018 | Economics

Sudanese pound strengthensThe Sudanese pound strengthened to 46.95 to the US dollar on Sunday, bankers said, in its first rise since the national currency was...

Women have special touch on grapes-Nuunyango

3 days ago - 16 October 2018 | Economics

Nuunyango in an interview with Nampa on Friday said the reason why more women are employed than men, is because grapes are soft fruits and...

Fears of economic depression

4 days ago - 15 October 2018 | Economics

The possibility that Namibia has moved from a recession into an economic depression was raised by Namib Mills' CEO on Friday during the announcement of...

Latest News

Nail errant nurses - Haufiku

11 hours ago | Health

Health ministry permanent secretary Ben Nangombe has issued a directive that no nurses may use their cellphones while on duty, and that no health facilities...

No peace for Cheryl's family

11 hours ago | Crime

The police are still working around the clock to catch the killer, or killers, of nine-year-old Cheryl Avihe Ujaha although there has been a lack...

Recruiting the best staff

11 hours ago | Supplements

Below are some tips for employers on how to go about this often arduous task.Improve your candidate poolCompanies that select new employees from the candidates...

Taking Namfisa to new and...

11 hours ago | Supplements

Octavia Tsibes As the deputy CEO of prudential supervision at the Namibia Financial Institutions Supervisory Authority (Namfisa), Erna Motinga is responsible for strengthening its supervisory...

Our dismal public healthcare

11 hours ago | Columns

There appears to be no end in sight to the many and deep-seated problems at the heart of Namibia's public healthcare sector. It goes without...

A vivacious young woman

11 hours ago | Supplements

Born and raised in a small village called Kayira-yira, situated eight kilometres west of Rundu, Zonia worked very hard throughout her school years and moved...

Improving sustainability through change

11 hours ago | Supplements

Justicia Shipena Her key role is to help Namport deliver sustainable performance improvement by utilising people. Futher focusing on how change can influence, which includes...

Airport downgrade a major threat

11 hours ago | Transport

Analysts believe that if Hosea Kutako International Airport (HKIA) is downgraded by the International Civil Aviation Organisation (ICAO), it would lead to massive job losses,...

'Arrogant' Utoni under fire

11 hours ago | Government

Land reform minister Utoni Nujoma has been described as crude, dismissive and arrogant when it comes to dealing with the media.These were the sentiments of...

Load More