Qatar Airways now rehiring former cabin crew

By admin

 

Qatar Airways is advertising for cabin crew positions, with more staff likely to be needed ahead of hopefully busy rest of the year.

However, the roles are only open on a rehire basis to former cabin crew members that it had previously let go amid the coronavirus pandemic. At this time, it looks like the deadline for applications is July 24th.

As the airline industry looks to prepare for what it hopes will be a summer of recovery, Qatar Airways is making preparations of its own. The Qatari flag carrier and oneworld member now has a listing on its careers website titled ‘Rejoining Qatar Airways Cabin Crew | 2021.’ These positions have been set aside for employees that the airline previously had to let go.

Such cuts have been widespread since the onset of the ongoing coronavirus pandemic, which has decimated passenger demand and, subsequently, airline schedules. This, in turn, has forced carriers worldwide to make layoffs to save money in an unpredictable market.

However, Qatar Airways is now hopeful for a more stable future. Indeed, last month, it also began rehiring pilots ahead of planned schedule increases.

As it stands, Qatar Airways plans to allow applications to come in until July 24th. However, high-demand listings in the travel sector can sometimes close early if they prove particularly popular.

While it is impossible to know, this may prove to be the case here, with the airline’s former cabin crew surely desperately eager to return to the skies to do what they love.

In the listing for the Doha-based role, Qatar Airways takes time to acknowledge its achievements amid the health crisis and the commitment of its staff, calling itself “an airline that has never stopped flying and remained resilient throughout the pandemic.”

NDIC commences payment to depositors of 14 closed bank

By Favour Nnabugwu

 

 

The Nigeria Deposit Insurance Corporation (NDIC) will commence payment of liquidation dividends to uninsured depositors, creditors and shareholders of 14 closed banks.

The Director, Communication and Public Affairs Department, Bashir Nuhu, the NDIC stated that while stakeholders of eight closed banks are to receive their first round of liquidation dividend payments, those of the other six are to be paid additional sums due to them as part of their liquidation dividends.

The listed banks are: City Express Bank, All States Trust Bank, Allied Bank, Commerce Bank, North South Bank, Cooperative and Commerce Bank and Nigeria Merchant Bank.

Others are Hilltop MFB, Olomoyoyo MFB, Evo MFB, Ngwegwe MFB, Bekwarra MFB, Argungu MFB and Edet MFB
.
The corporation advised eligible stakeholders of the banks to visit the Corporation’s offices nationwide for the verification of their claims or do so on the Corporation’s website.

The NDIC has also commenced verification of depositors of 22 MFBs whose operating licences were recently revoked by the Central Bank of Nigeria (CBN).

The verification exercise is geared towards payment of insured sums to eligible depositors.

Depositors of the affected MFBs have been advised to visit the closed banks’ addresses where their claims would be verified by the NDIC’s officials.

 

AIB sets up accident investigation agency for Sierra Leone

By Favour Nnabugwu

 

 

The country’s Accident Investigation Bureau, AIB-N has technically rendered support for the setting up Sierra Leone’s Aircraft Accident Incident Investigation Bureau (SL-AAIIB).

General Manager, Public Affairs, AIB, Mr Tunji Oketunbi said the assistance is marked by the conclusion of a recent two-day fact-finding mission to the Sierra Leone Aircraft Accident Incident Investigation Bureau (SL-AAIIB) by the Accident Investigation Bureau, Nigeria (AIB-N).

This is the second time AIB-N will be assisting member countries in the sub region to establish their independent
investigation agencies. It offered similar support to Gambia in establishing its accident investigation agency.

” The agency, which is now rated as a regional leader in aircraft accident investigation has also assisted Sao Tome and Principe to conduct investigation into an aircraft crash”.

” The team led by Mr Adeniji Oni examined the Establishment of SL-AAIIB, Development of Legislation, Regulations, Manuals and Guidance Materials.

“The AIB-N team also reviewed the development of training policies and programmes for investigators (Initial, Simulators and Specialized); and how the SL-AAIIB should prepare for ICAO Audits and the implementation of Corrective Action Plan, following any gap identified”, Oketunbi said.

He also revealed that the initiative to assist the government of Sierra Leone in the set up and commencement of SL-AAIB was at the instance of the Commissioner of AIB-N, Engr Akin Olateru and the Honourable Minister of Aviation, Senator Hadi Sirika.

Speaking on behalf of the Sierra Leone Civil Aviation Authority (SLCAA) Director-General, the Director of Corporate Services, Alex Pratt, stated: “Let me, on behalf of the Director-General, thank you very much for the work done in this brief period. The SLCAA welcomes the recommendations made so far, and promise they would be carefully followed and implemented,” he said.

Also speaking at the occasion, The SL-AAIIB Commissioner, Mr Olubunmi
Wellington thanked the Nigeria delegation for the technical support rendered in the establishment of the SL-AAIIB. “We promise to make good use of this opportunity and we will call on you at any time to play the Big-Brother role you have already started”.

So far, the Agency has partnered with Republic of Benin, Sao Tome (who it has assisted in accident Investigation), Saudi Arabia, NTSB US, Bureau d’Enquêtes et d’Analyses pour la sécurité de l’aviation civile (BEA- France) France AIB, AAIB UK and an effective member of BAGAIA.

Businessman, philanthropist travel solo from India to Dubai

By sdmin

A businessman and a philanthropist S.P. Singh Oberoi had travelled to India on June 12 after the ban on India flight between India and Emitares.

A UAE-based Indian expatriate has become the latest passenger to fly solo from back home to Dubai.

Dr Surinder Pal Singh Oberoi, a businessman and a philanthropist, who holds a 10-year golden visa, flew from Amritsar in the north Indian state of Punjab to Dubai via Air India flight (AI929) on Wednesday (June 23).

However, despite the ban, the UAE made exceptions for Emiratis, Diplomats, and golden visa holders. It just so happened that the gentleman in question happened to hold the aforementioned golden visa.

Wednesday was when the flight operations, which have been suspended between India and the UAE for the public since April 24 due to a spike in Covid-19 cases in the second and a lethal wave of the contagion, were supposed to resume, but have not started, despite the Dubai authorities’ announcement last Saturday (June 19).

Singh had a gala time on the flight, as he paid only Dh740 to cherish a lifetime experience.

“I was measuring the length of the plane by my steps,” Singh quipped.
He told Khaleej Times that the pilot greeted him and gave him a royal treatment amid incessant clicking of his pictures on the empty flight.

Singh vividly recalled the moment he arrived at the Dubai International Airport (DXB).

“I underwent a PCR test at the airport. The airport staff asked me about my co-passengers, and they’re surprised to know that I was the only one on the flight,” he added.

Singh praised the immigration system that has been put in place for the golden visa holders.

“Earlier, I was told by my family members and friends and that I won’t be allowed to travel. But I ticked all the boxes and had all the valid documents to enter the UAE. Surely, there are many benefits of holding a golden visa,” he said.

Singh, 66, who is a prominent social worker and hails from Patiala, an erstwhile princely state in Punjab, had played an active role in repatriation of Indian labourers and other compatriots during the Covid-19-enforced lockdown restrictions last year.

Initially, he had come to Dubai to work as a mechanic. He worked for four years and returned to his native Punjab to start his own company that supplied construction and building materials.

Later, he returned to Dubai in 1993 and started his own General Trading Company and Dubai Grand Hotel in 1998. Singh also started Oberoi Properties & Investments LLC in 2004.

The UAE authorities are allowing diplomats, golden visa holders, and Emiratis to travel from India amid the travel ban since April 24.

A memorable journey

While thanking both the Indian government and the UAE for his memorable journey, the Indian businessman said the following on his Facebook page:

“Sometimes in vital situations, we get opportunities to cherish for life. Highly appreciate the Government of UAE and India for making it a memorable journey. Thank you, Air India, for your special services. You made it absolutely a wonderful journey.”

NIA Chairman, Ganiyu Musa reels out 9-Points agenda for insurance industry

By Favour Nnabugwu

 

 

The current Chairman of the Nigerian Insurers Association (NIA), Mr Ganiyu Musa  has revealed that he has 9-point agenda to work on during his tenure as the association leads on under his purview.

Musa hopes to get the support of people in government and other stakeholders in the country to take the industry where it deserves.

Musa made this known at his investiture as the 24th Chairman of the association in Lagos while stressing that the association would work closely with other stakeholders to maximize the benefits derivable from insurance.

The NIA Chairman used the occasion to unveil his 9-point agenda, which he hopes to leverage to take the insurance industry to lofty heights.

According to him, “His first agenda is to refocus the association to win support and respect from all stakeholders in Nigeria economy, particularly the executive and legislative arms of governments, followed by working with all stakeholders to ensure passage of the consolidated insurance bill and working with his predecessors in office to move the association to the next level.

He also seek to improve relationship between NIA and its regulatory agencies, including National Insurance Commission (NAICOM) Central Bank of Nigeria (CBN) Security and Exchange Commission (SEC) and National Pension Commission (PenCom).

He intends to collaborate with other bodies in the trade industry to deepen insurance penetration in Nigeria; promote ethical standards amongst NIA member companies and larger insurance industry to earn the respect the association deserves; work with all stakeholders to address all restrictive laws on insurance practice; work with its partners such as GIZ and the Financial Inclusion Secretariat to ensure greater insurance awareness and penetration and work with NAICOM to achieve seamless migration to IFRS 17.

The chairman says the list of what he desire to achieve is not exhaustive, adding that his administration would look inwards to take advantage of the untapped potential demand for insurance in Nigeria, stressing that this would engender relevance of insurance business to the growth of the nation.

The Commissioner for Insurance, Mr. Sunday Thomas, at the investiture implored the NIA to work hard in ensuring its members live up to their claims responsibilities.

NEM Insurance gross premium hit N22bn in 2020

By Favour Nnabugwu

 

The NEM Insurance Plc has  recorded a good premium of N22billion  in the financial year 2020, representing 12 percent increase from the N19.8billion announced in 2019.

The company’s strength to take more risks showed in the 25 percent increase in earned premium moving up from N12.6billion to N15.8billionn.

Management of the NEM Insurance Plc has announced the performance for 2020 operations which soared above local and foreign challenges to earn.

The board chairman Dr. Fidelis Ayebae, in statement said the excellent results of gross premium of N22bn which shows an increase of 12 percent over 2019 N19.8bn and another 112 percent increase in profit after tax from previous N2.4bn to N5.08bn for the company is an affirmation action by the group that yielded 9kobo per share dividend.

The chairman further noted that the options for investing earned premium were constrained by the crash in the interest rate in commercial paper though, the “management was proactive enough to take the advantage of other investment opportunities to generate an income on investment of N1bn as against the previous income on investment in 2019 which was N878.2m. This resulted in increase of about 14.3 percent

The other indicators showed the gross claim obligation increased by 15 percent in the period under review registering N8.4bn compared to the former figure of N7.3bn. The net claims expenses of N6.05bn was incurred, 53 percent higher than that of the preceding period which recorded N3.9bn.

“The net claims ratio for 2020 was 27 percent as against 21 percent the previous year.”

Ayebae cited that the performance also recorded increases of N5.9bn, N5.5bn and N4.2bn in the group’s financial and total assets and also total equity respectively. The parent company had same figures save for total equity which recorded a slight increase of N4.3bn. The group’s earning per share was 96kobo, the previous mark was 45kobo.

While In his remark the group managing director/CEO, Mr. Tope Smart, said despite the local and global difficult terrain, NEM Insurance “showed resilience and we were able to post impressive results.”

He also noted that the National Insurance Commission showed concern with regard to the recapitalisation which had been flagged off before COVID-19 set in and rescheduled compliance dates having looked at the impact of COVID on the insurance companies and decided to break the exercise into two phases.

However, despite the cap on recapitalisation due to suspension by court injunction, Smart said the company has cleared the first compliance schedule bringing its paid capital to N5.01bn.

He also said the shareholders fund grew by 30 percent from N14bn in 2019 to N18.4bn in 2020. However, the tales of profit don’t match for the Nigeria parent company and the associate firm in Ghana. He comments: “Our profit during the period grew significantly from N2.4bn to N5.1bn, a growth of 112 percent We however recorded a loss from our associate in Ghana as profit declined from N21.4m to a loss of N22m

Rail transportation generates N5.79bn in 2020, Q1 2021

By Favour Nnabugwu

 

 

Rail transportation in Nigeria generated N5.79 billion between 2019 and Quarter One of 2021 (Q1, 2021), the National Bureau of Statistics (NBS) has said.

It said this in the “Rail Transportation Data for Q1 2019 – Q1 2021” obtained from its website on Thursday in Abuja, adding that the revenue was generated from passengers, goods/cargo and other incomes.

Giving a breakdown, it said N918.62 million was generated as revenue in the first quarter of 2021 (Q1, 2021) as against N481.57 million generated in Q4, 2020.

Also, revenue generated from passengers in Q1 2021 was put at N892.46, while N398.99 was generated from passengers in Q4 2020, the report said.

It added that revenue generated from goods/cargo in Q1 2021 was put at N26.19 as against N82.57 in Q4 2020.

In 2019, N2.412 billion was generated from passengers, while in 2020, N1.745 billion was generated and in Q1, 2021, N892.46 million was derived.

For goods/cargo, in 2019, N362.88 million was generated; in 2020, the sector derived N281.35 million and in Q1 2021, N26.19 million had been generated.

However, for other receipts, N64.57 million was derived in 2019, N5.18 million in 2020 and N8.062 million in Q1, 2021.

The bureau said that rail transportation data for Q1 2021 reflected that 424,460 passengers travelled via the rail system in Q1 2021 as against 647,055 passengers recorded in Q1 2020 and 134,817 in Q4 2020.

It said that this represented a -34.40 per cent decline year-on-year (YoY) and +214.84 per cent growth quarter-on quarter (QoQ) respectively.

“Similarly, a total of 10,511 tons of volume of goods/cargo travelled via the rail system in Q1 2021 as against 18,484 that used the system in Q1 2020 and 35,736 in Q4 2020 representing -43.13 per cent decline YoY and -70.59 per cent decline QoQ respectively.”

The report said that data for the summation was provided by the Nigerian Railway Corporation (NRC), verified and validated by the NBS.

Niger Insurance settles N1.15 bn claims between 2020/2021

By Favour Nnabugwu

 

Despite the recent situation of Niger Insurance, the company is coming out of the woods as it has paid N1.15billion claim between 2020 and now

Aside all hands on deck to revive Niger Insurance, the company is equally working on liquidating some of it’s real estate assets to further alleviate the plight of its policyholers.

The Managing Director of Niger Insurance Plc, Mr. Edwin Igbiti, promised that his firm will not relent in meeting customers’ expectations.

Igbiti is optimistic that the company will rise again while he put the claim paid to policyholders between 2020 and now to reach N1.15billion.

According to him, “in addition to meeting commitment to our policyholders, we have created customer engagement forum to address customers’ complaints, which has been very effective in addressing concerns and enquires, especially, in the present status of the company and management initiatives.

“Our traction and achieved milestones were also communicated at various conferences and media parley held by the company.”

Niger Insurance, he promised, remains responsible and committed corporate organisation, while assuring the insuring public and all stakeholders that it will ensure all obligations especially, in the area of claims payments are met to the extent of its established liabilities and provision of insurance practices.

R- The Commissioner for Insurance, Mr Sunday Olorundare Thomas at the 24th Nigerian Insurers Association investiture of the chairman, Mr. Ganiyu Musa in Lagos

Caption:

The 24th investiture of the Chairman of Nigerian Insurers Association, NIA, in Lagos.

1.   R – The Commissioner for Insurance, Mr Sunday Olorundare Thomas greeting an operator at the 24th NIA investiture in Lagos.

 

2.  R – Group Managing Director, Mr. Lawrence Nazare of Continental Reinsurance Plc; Regional Director, Anglophone West Africa, Mr. Ogadi Onwuaaduegbo; Chief Financial Officer, Mrs Jane Mberia at the investiture of the Nigerian Insurers Association, Mr Ganiyu Musa at the event.

Swiss Re cuts stake in Phoenix Group to 6.6%

By admin

 

Swiss Re acquired a stake in the company last year through the sale of its ReAssure Group plc subsidiary to Phoenix but has not cut stske to 6.percent

The sale was completed through an accelerated bookbuilding process and was done in the context of a regular review and rebalancing of Swiss Re’s investment portfolio and is consistent with the group’s overall investment strategy.

Swiss Re states that Phoenix agreed to Swiss Re completing this transaction prior to expiry on July 23rd 2021 of the lock-up arrangement agreed between the pair.

The sale of an approximately 6.6 percent holding by Swiss Re is expected to close on June 25th, 2021.

According to the reinsurer, this transaction will result in a low single-digit increase in the Group’s Swiss Solvency Test ratio, while the impact of the deal on Swiss Re’s US GAAP earnings is expected to be insignificant.

Once the deal closes, Swiss Re’s remaining stake in Phoenix will be roughly 6.6 percent of the firm’s total issued share capital. Regarding these shares, Swiss Re has agreed to a lock-up arrangement of 90 days following closing, subject to waiver, as is customary for such a trade.

Additionally, now that Swiss Re’s holding in Phoenix has dipped below 10 percent, the relationship agreement ceases to be effective and Swiss Re is no longer entitled to appoint a non-executive director to the Phoenix Board.

Consequently, Swiss Re has informed that its nominated representative, Christopher Minter, will step down from the Phoenix Board with effect from settlement of the shares sold by Swiss Re.

Nicholas Lyons, Phoenix Chairman, commented: “On behalf of the Board, I would like to thank both Christopher for the significant contribution he has made since joining the Board in July 2020 and Swiss Re for its support during its time as a significant strategic shareholder.”

As part of last year’s deal, Swiss Re transferred shares representing roughly 14.5 percent of the enlarged share capital of Phoenix to MS&AD Insurance Group Holdings, ReAssure’s minority shareholder.

Phoenix notes that MS&AD, whose lock-up period also expires in July 2021, continues to retain a 14.5 percent stake in Phoenix and is committed to its strategic relationship.

Commenting on the sale of some of Swiss Re’s stake in Phoenix, Moody’s Investors Service analyst, Dominic Simpson, said: “Swiss Re has halved its shareholding in Phoenix Group to 6.6 percent, equivalent to £437 million, which we view as credit positive in that it will reduce Swiss Re’s asset concentration and have a small positive impact on it solvency.”