Lufthansa to File Bankruptcy Protection if Bailout Fails

BusinessTravelWorld NewsLufthansa to File Bankruptcy Protection if Bailout Fails

PilotnewsJune 17, 2020

German airline Lufthansa on Wednesday said it would have to apply for bankruptcy protection if the terms of a bailout deal with the German Government fail at an extraordinary general assembly, slated for June 25. According to the Frankfurt Headquarters of the company, Lufthansa will have to apply for bankruptcy protection proceedings shortly after the annual general meeting if a solution is not found immediately. The company was reacting to the statement by Heinz Hermann Thiele,...

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Ghana economy Grows 4.9% Year-On-Year in First Quarter, Says Stats Office

EconomyGhanaGhana economy Grows 4.9% Year-On-Year in First Quarter, Says Stats Office

PilotnewsJune 17, 2020

ACCRA (Reuters) – Ghana’s economy grew 4.9% year-on-year in the first quarter of 2020 compared with 6.7% in the same period last year, provisional data from the state statistics service showed on Wednesday. Ghana has had one of Sub-Saharan Africa’s fastest-growing economies in recent years, but the central bank last month downgraded its 2020 growth forecast to between 2% and 2.5% from an earlier expectation of 6.8% due to the impact of the coronavirus pandemic....

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Acknowledging ‘Racial Stereotype,’ PepsiCo to Drop Aunt Jemima Name, Brand

Arts & CultureBusinessAcknowledging ‘Racial Stereotype,’ PepsiCo to Drop Aunt Jemima Name, Brand

PilotnewsJune 17, 2020

PepsiCo Inc (PEP.O) will change the name and brand image of its Aunt Jemima pancake mix and syrup, it said on Wednesday, dropping a mascot criticized for a racist history. The logo of the more than 130-year-old brand features an African American woman named after a character from 19th century minstrel shows. The offensive caricature is rooted in a stereotype of a friendly black woman working as a servant or a nanny for a white...

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Fashola Describes Letter of the CEO of the Executive Jets as Ridiculous

BusinessNewsNigeriaTravelFashola Describes Letter of the CEO of the Executive Jets as Ridiculous

Bada Yusuf Amoo (Correspondent)June 17, 2020

The Minister of Works and Housing, Mr. Babatunde Fashola has reacted to the letter written by the Chairman and Chief Executive Officer of Executive Jets Services Limited, Sam Iwuakoju, on the circumstances around a Lagos-Abuja flight operated on Saturday. The Minister describes the letter as ridiculous as he claimed he has not travelled out of the Federal Capital Territory, Abuja, Since March 22. The West African Pilot News has earlier reported the apology tendered by...

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Congolese Fashion Designer Goes Virtual as Virus Hits Runway Shows

BusinessFashionCongolese Fashion Designer Goes Virtual as Virus Hits Runway Shows

PilotnewsJune 16, 2020

U.S.-based Congolese fashion designer Anifa Mvuemba was excited about debuting her fashion line, Hanifa, at this year’s New York Fashion Week. But when her show was cancelled due to the COVID-19 pandemic, Mvuemba got creative. The 29-year-old designer held a virtual show on May 22 for her latest collection called ‘Pink Label Congo’. The 3D animated event was watched by tens of thousands of people who streamed it on her Hanifa Instagram Live page. “We...

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Shares in Asia Pacific Tumble on Fears of Second Virus Wave

AsiaCoronavirusMarketsNewsShares in Asia Pacific Tumble on Fears of Second Virus Wave

PilotnewsJune 15, 2020

Stocks in the Asia Pacific region on Monday plummeted amid fears of a resurgence of COVID-19, as more countries gradually lifted restrictions. The Japanese yen rise also contributed to a 3.4 per cent plunge in the benchmark Nikkei 225 Stock Average. The Nikkei lost 774.53 points, or 3.47 per cent, to close at 21,530.95, ending below the 22,000 mark for the first time since late May. Earlier, Tokyo Ministry of Health announced 48 new cases...

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Egypt to Restart Tourist Flights in July to Boost Virus-Hit Economy

AfricaMarketsTravelEgypt to Restart Tourist Flights in July to Boost Virus-Hit Economy

PilotnewsJune 11, 2020

Egypt will allow foreign tourists and flights to return to some of its resorts beginning from July, as the country struggles to contain the economic fallout from an outbreak of the new coronavirus. The country’s vital tourism and aviation sectors have borne the economic impact of the virus. Tourist and air traffic will resume to the coastal cities “least affected by the virus, beginning July 1,” Information Minister Osama Heikal said on Thursday in televised...

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CBN Boosts 70,000 Maize Farmers Under Anchor Borrowers Programme

EconomyInvestingNigeriaCBN Boosts 70,000 Maize Farmers Under Anchor Borrowers Programme

PilotnewsJune 11, 2020

The Central Bank of Nigeria (CBN), said on Thursday that it would support 70,000 maize farmers under its Anchor Borrowers Programme, during the 2020 wet farming season. Mr Nuhu Muazu, Head Development Finance Office, CBN, disclosed this in Bwari, Abuja, at the launching of farm inputs distribution to maize farmers for the 2020 wet season. Muazu said that the programme was designed to boost food production and guarantee food security in the country. While urging...

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NASS Raises Revised 2020 Budget From N10.509trn to N10.810trn

EconomyPoliticsNASS Raises Revised 2020 Budget From N10.509trn to N10.810trn

PilotnewsJune 11, 2020

The two chambers of the National Assembly on Thursday, raised the N10.509 trillion budget proposed by the executive as revised budget for 2020 fiscal year by N301billion, passing N10.810 trillion as aggregate expenditure for the 2020 revised budget. The N301 billion added to the earlier proposal made by the executive arose from increases made on Capital expenditure proposal, which was raised from N2.230 trillion to N2.488 trillion, recurrent expenditure jerked up from the earlier proposed...

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Huawei: NATO Chief Says UK Review of 5G Security Important

BusinessTechnologyWorld NewsHuawei: NATO Chief Says UK Review of 5G Security Important

PilotnewsJune 10, 2020

The head of the NATO military alliance said that the West could not ignore the rise of China so it was important that Britain review the role of Huawei in its 5G network to ensure its security. NATO Secretary Genera, Jens Stoltenberg on Wednesday said China was coming closer to the West in various ways in the Arctic, in cyberspace and in critical infrastructure, including telecommunications. “I trust that the UK government will design their...

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