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Lufthansa Group records 60 million passengers in 2017 first half

LUFTHANSA Group in the first half of the year 2017, airlifted around 60 million passengers 17.2% more than in the first half of 2016. The Group in its financial report stated that it has carried more passengers than ever before in the first half of 2017. The seat load factor …

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Delta Air Lines reports $172m increase on June Quarter profit

DELTA Air Lines has announced financial results for the June quarter 2017. The airline reported that its adjusted pre-tax income for the June 2017 quarter was $1.85 billion, an increase of $172 million from the same income in the June 2016 quarter, primarily driven by higher revenue. Delta recorded a …

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Digital Banking holds key to financial inclusion in Nigeria —Segun Agbaje

NIGERIA’S economy may be in a difficult period, but with digitalization at the core of the national banking strategy, financial inclusion has been given room to grow. “There are so many people in Africa that are outside the banking system”, said Segun Agbaje, Managing Director and CEO of Guaranty Trust …

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Global investors oversubscribe UBA’s $500m Eurobond by 240%

UNITED Bank for Africa Plc (UBA) successfully raised USD500 million, through a debut Eurobond, which was over-subscribed at 240%. The significant investor demand reflects the strong global investor appetite for UBA’s credit and support for the Group’s Pan-African financial services strategy. The Global Offering is a five-year senior unsecured benchmark …

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Standard and Poor allots UBA Plc ‘B/B’ ratings, stable outlook

STANDARD and Poor’s (S&P) an international rating agency, has assigned its ‘B’ long term and ‘B’ short term global scale counterpart credit ratings to the United Bank for Africa Plc (UBA). The rating agency noted that UBA’s market position “is supported by its good franchise in the corporate and retail …

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Medview Airline PLC pays dividends to shareholders at first AGM

BASED on the dividends approved by shareholders, Medview Airlines PLC will pay 3kobo per every 50 kobo ordinary share to its shareholders from May 19, 2017 with plans to improve on the figure at the next financial year. The airline on January 31, 2017 enlisted in the Nigeria Stock Exchange …

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Emirates Group total revenue hits $25.8billion despite poor aviation, travel returns

EMIRATES Group turnover hits $25.8 billion with a huge workforce of 105,000 for its 29th consecutive year of profit and steady business expansion, despite a turbulent year for aviation and travel. Released today in its 2016-17 Annual Report, the Emirates Group posted an AED 2.5 billion (US$ 670 million) profit …

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AfBAA builds training momentum signs MOUs with JAA TO, AATO

AFRICAN Business Aviation Association (AfBAA), has strengthened its commitment to educating the African business aviation sector by signing two significant Memos of Understanding (MoU), with leading international aviation training organizations. Vice-Chair of AfBAA’s Safety and Training Committee Nick Fadugba signed the first with Mrs. Margareth Josephath Kyarwenda, Secretary General, Association …

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UBA modernizes mobile payments with *919# magic banking

LEADING African financial institution,United Bank for Africa (UBA) Group,  in a bid to dominate Africa’s mobile banking space with the introduction of cutting edge technology-driven products and services, has introduced a full-fledged banking platform, tagged UBA Magic Banking and enabled by dialling *919# within Nigeria. The USSD code *919# enables …

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Ecobank plans optimization of branches, to invest in technology

IMMINENT job losses is brewing in Pan-African Ecobank as the bank plans to close branches as well as cut jobs ascribing it to massive investment in digital technology according to the bank Chief Executive Officer, Ade Adeyemi. Adeyemi who was discussing on the sidelines of the World Economic Forum for …

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