Major International Business Headlines Brief::: 05 December 2023

[Bulls n Bears]

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Major International Business Headlines Brief:::  05 December 2023 

 


 

 




 


 

 


 

ü  Nigeria: COP28 - Nigeria's Gas Flare Monetisation Targets 50 Percent
Carbon Emission Reduction - NUPRC

ü  South Africa: Trains to Return to Stellenbosch By Year End, Says
Metrorail

ü  Nigeria Receives Largest Vessel With 2,000 Containers, 2,500 Vehicles

ü  Nigeria: COP28 - Several Nations Promise to Shut Coal Powered Plants

ü  South Africa: 'Air Conditioners to Blame for Stage 6' - Eskom

ü  Africa's Vaccine Production Push Reshapes Global Health Landscape

ü  South Africa: Govt's Failure to Prevent Energy Crisis is
Unconstitutional, Court Finds

ü  South Africa: Prasa's Long Distance Trains Resumes Service

ü  Rwanda: Mining - Officials Confident Sector Will Fetch U.S.$1 Billion By
End of Year

ü  Rwandan Firm Wins U.S.$1 Million Award for Solar Energy Solutions

ü  South Africa: Black November Sales Reveal Most Consumers Are Struggling

ü  Tanzania: World Bank Group President to Visit Tanzania

ü  Tesla whistleblower casts doubt on car safety

ü  Forest City: Inside Malaysia's Chinese-built 'ghost city'

ü  Gold price hits record high as bets on interest rates shift

ü  Booking.com users angry at firm's response to hacks

ü  Ryanair denies passengers must pay to download boarding pass

 


 

 


 <https://www.cloverleaf.co.zw/> 

 

Nigeria: COP28 - Nigeria's Gas Flare Monetisation Targets 50 Percent Carbon
Emission Reduction - NUPRC

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed
plans to reduce Nigeria's Carbon emission by as much as seven million tonnes
of CO2 emission per year with the implementation of the Nigeria Gas Flare
Commercialisation Programme (NGFCP).

 

The commission also unveiled the Regulatory Framework for Energy Transition,
Decarbonisation and Carbon Monetisation for Upstream Operations in Nigeria
at the ongoing United Nations Climate Change Conference 2023 (COP28) in
Dubai, United Arab Emirates.

 

The NUPRC commission chief executive (CCE), Gbenga Komolafe made this known
while delivering his keynote address at a roundtable discussion themed
"Driving Sustainable Upstream Operations to Achieve Just and Equitable
Energy Transition."

 

 

During the ensuing discussion, Claire Wang, Office of the U.S Special
Presidential Envoy on Climate Change, Martina Otto, Head of Climate & Clean
Air Coalition, United Nations Environment Programme, Jonathan Banks, Global
Director, Clean Air Task Force, and Funmi Ogbue, Managing Director, ZIGMA
Oil and Gas exchanged ideas on how Nigeria can attain climate neutrality
through energy transition and the implementation of decarbonisation
measures.

 

The NGFCP projects when fully executed will mop up 50 per cent of Nigeria's
flares accounting for an equivalent of six to seven million tonnes of CO2
emission per year.

 

Data from the Nigerian Gas Flare Tracker indicates that oil and gas
producers in the country emitted about 12 million tonnes of CO2 into the
atmosphere in 2022 though gas flaring, contributing to global warming

 

 

The data also showed that useful natural gas valued at $790 million was
burned by the Nigerian oil and gas industry, equivalent to fines at the
value of $450 million, many of which were not collected.

 

In addition, 22.5 Thousand GigaWatt hours of potential power generation went
to waste equivalent to the annual electricity use of 511 million Nigerian
citizens.

 

The CCE said the Commission is championing the decarbonisation of upstream
operations to sustain investments for energy security and economic
development for the benefit of Nigerians in line with national aspirations
and consistent with the UN SDGs.

 

Komolafe stated that the Framework was hinged on seven pillars which are;
Natural Gas Shift, zero routine gas flaring & methane abatement, carbon
market development, technology and innovation, upstream operations
efficiency, incentive mechanism, collaboration and risk management

 

"I call on all stakeholders, government agencies, operators, international
development partners and multilateral agencies to join us as we progress the
steady implementation of the Framework within the coming months, which will
be underpinned by applicable Directives, Guidelines, and Regulations",
declared the Upstream Regulator Chief.

 

"Interestingly, the implementation of the Regulatory Framework has already
commenced on the heels of the introduction of the Gas Flare, Venting &
Methane, Prevention of Waste and Pollution Regulations 2023 which provides
the renewed legislative basis to take firm actions on gas flaring, venting
and fugitive emissions".

 

Similarly, the implementation of the 2022 Guidelines for Management of
Fugitive Methane and Greenhouse Gases Emissions in the Upstream Oil and Gas
Operations in Nigeria, which was launched at COP27, is achieving commendable
outcomes.

 

Furthermore, Komolafe highlighted the success of the ongoing execution of
the Nigeria Gas Flare Commercialisation Programme (NGFCP) as a major climate
action initiative for Nigeria in the nation's energy transition pathway. The
NGFCP projects when fully executed will mop up 50 per cent of Nigeria's
flares accounting for an equivalent of six to seven million tonnes of CO2
emission per year, in addition to significant socio-economic impacts.

 

While acknowledging the considerable support of international development
partners on the NGFCP, the NUPRC Boss seized the opportunity to call for
enhanced assistance from climate action stakeholders in technical areas,
project financing/funding, carbon credit earning framework, and capacity
building.

 

- Leadership.

 

 

 

 

South Africa: Trains to Return to Stellenbosch By Year End, Says Metrorail

Work is currently underway to get the train stations operational again. It
includes repairs to the overhead traction equipment, rail tracks,
substations and station facilities.

Residents have welcomed the news, as many have been struggling to foot the
bill for alternative transport.

More than three years after its closure, train stations in Stellenbosch are
expected to reopen by the end of this year, welcoming back thousands of
commuters, says Metrorail Western Cape spokesperson Zinobulali Mihi.

 

 

The three main stations under the Stellenbosch Municipality - Du Toit,
Stellenbosch, and Koelenhof Stations - along with halts in Vlottenburg and
Lynedoch, have been closed since the beginning of the Covid lockdown in
March 2020.

 

Before the closure, these stations saw a combined average of more than
22,000 commuters monthly.

 

In July, Mihi told GroundUp that contracts for the Strand and Muldersvlei
(Stellenbosch) line had been awarded "to recover the electrification
network", and that work was underway to get those lines operational again.

 

"Efforts are being made through various projects to recover and refurbish
the lines," Mihi told GroundUp. However, there have been several delays to
reopening rail services in Stellenbosch due to "major vandalism" to the
tracks and infrastructure at the stations.

 

 

The vandalism was extensive and included damage to overhead traction
equipment, rail tracks, substations, and station facilities.

 

But long before the Covid lockdown, Metrorail's service was crumbling across
the country. GroundUp had been documenting the rail agency's steady demise
over the past decade.

 

Commuters pay the price

 

The absence of working trains in and out of Stellenbosch has meant the
thousands of people who relied on the service have had to find alternative
and more costly means of transport.

 

"A lot of people I know who worked in places like Cape Town [city centre]
had to quit their jobs because they couldn't afford the travel cost," said
Peter Booysen, a resident of Cloetesville.

 

The closest operational train station from Stellenbosch is the Eerste River
station, which is almost a 30-minute drive or four-hour walk away. In
January this year, the line between Eerste River and Bellville resumed.

 

Many residents have had to use taxis since the trains stopped running, said
Behave Shoko, a self-employed contractor in Stellenbosch who often used to
use the train to get to work sites.

 

A taxi from Stellenbosch to Cape Town costs up to R35 for a one-way trip.
Before the train service shut down, it cost R26 for a return ticket to Cape
Town Station.

 

Shoko said he welcomed the news that the trains in Stellenbosch might be
operational by the end of this year, but he wants Metrorail to ensure the
service will be made safer. "Those trains were not safe, especially during
the weekends when it was quiet," he said.

 

The rise in public transport costs in Stellenbosch has meant the
municipality has had to increase its budget for road maintenance and for
minibus taxi facilities, said Stellenbosch Municipality communications
manager Stuart Grobbelaar.

 

"Unfortunately, over the last few years, PRASA and Transnet have left
thousands of commuters stranded and with no other option but to be on the
roads," said Grobbelaar.

 

Though PRASA is yet to commit to a completion date, the train stations in
Stellenbosch are expected to reopen with a cohort of security guards on
board the trains, as well as static security at the stations, said Mihi.

 

"Foot patrols will also be deployed to curb vandalism and theft on the
infrastructure in between the stations," he said.

 

- GroundUp.

 

 

 

 

 

Nigeria Receives Largest Vessel With 2,000 Containers, 2,500 Vehicles

One of the world's largest containers cum Roll-on-Roll-off (RoRo) vessels,
MV Great Lagos, arrived at the Tin-Can Island Port in Lagos on Monday
carrying about 2000 containers and 2500 vehicles.

 

The ship, which is named after the city of Lagos, is currently on its maiden
voyage to three West African countries with Nigeria as her first port of
call.

 

Built with about $100 million, MV Great Lagos, which was commissioned in
2023 is currently sailing under the flag of Italy. It is owned by the
Grimaldi Group.

 

On ground to receive the massive ship were Governor Babajide Sanwo-Olu of
Lagos State, represented by his deputy, Dr Obafemi Hamzat; the Minister of
Marine and Blue Economy, Mr Adegboyega Oyetola; Managing Director of
Nigerian Ports Authority (NPA), Mr Mohammed Bello Koko, and the Director
General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr
Bashir Jamoh, among others.

 

 

Speaking at a civil reception on-board the ship, Governor Sanwo-Olu said the
visit of the MV Great Lagos to Tin-Can Island Port is an expression of
confidence of the international community in Nigeria.

 

He also commended the Grimaldi Group for its investment in Lagos State.

 

Also speaking, the Minister for Marine and Blue Economy, Adegboyega Oyetola,
who was represented by the permanent secretary in the ministry, Dr Magdalene
Ajani, said the successful berthing of the vessel testifies to the
dedication of the Nigerian Ports Authority (NPA) and PTML to enhance
efficiency at the port.

 

 

The minister commended Grimaldi Group and PTML for deploying the vessel to
Nigeria and for adding value to the Nigerian economy.

 

Managing Director of the Port Terminal Multipurpose Limited (PTML), Mr
Ascanio Russo, said the new ultramodern megaship is a marvel of modern
engineering and environmental consciousness, stretching 290 metres in length
with a beam of 38 metres and deadweight of over 45,000 tonnes. The ship, he
said, has capacity to transport 4.7 kilometres of rolling freight, 2,500 Car
Equivalent Units (CEUs), and 2,000 Twenty-foot Equivalent Units (TEUs).

 

He said MV GREAT LAGOS is the second of the G5-class of ships recently
launched by the Grimaldi Group and named after Nigeria's commercial capital,
which it has served for many decades.

 

"The arrival of the Great Lagos is not just an addition to our fleet but a
reaffirmation of our devotion to the Nigerian economy and its vibrant
economic capital. The Great Lagos is among the largest ships ever built in
its class.

 

"This is not just an upgrade; it is a leap into the future of maritime
transport and we are proud that we are witnessing this in Nigeria.

 

"At PTML, the port terminal which is hosting us now, we have always prided
ourselves on being at the forefront of technological advancement and
operational efficiency. Our terminal, the largest multipurpose terminal in
Nigeria, stands as a clear demonstration of our ambitions. In the last one
year alone, we have invested over USD20 million to upgrade our facilities to
receive this beautiful ship."

 

- Daily Trust.

 

 

 

 

Nigeria: COP28 - Several Nations Promise to Shut Coal Powered Plants

Several nations vowed at COP28 in Dubai, to phase out coal plants which are
identified as contributing so much to global warming.

 

The United States also committed at the weekend to the idea of phasing out
coal power plants, joining 56 other nations in kicking the coal habit that's
a huge factor in global warming.

 

U.S. Special Envoy John Kerry announced that America was joining the
Powering Past Coal Alliance, which means the Biden Administration commits to
building no new coal plants and phasing out existing plants. No date was
given for when the existing plants would have to go, but other Biden
regulatory actions and international commitments already in the works had
meant no coal by 2035.

 

 

"We will be working to accelerate unabated coal phase-out across the world,
building stronger economies and more resilient communities," Kerry said in a
statement, adding that, 'The first step is to stop making the problem worse:
stop building new unabated coal power plants.'

 

Coal power plants have already been shutting down across the nation due to
economics, and no new coal facilities were in the works, so 'we were heading
to retiring coal by the end of the decade anyway,' said climate analyst
Alden Meyer of the European think-tank E3G. That's because natural gas and
renewable energy are cheaper, so it was market forces, he said.

 

As of October, just under 20 per cent of the U.S. electricity is powered by
coal, according to the U.S Department of Energy.

 

The amount of coal burned in the United States last year is less than half
what it was in 2008.

 

 

Coal produces about 211 pounds, (96 kilograms) of heat-trapping carbon
dioxide per million BTUs of energy produced, compared to natural gas which
produces about 117 pounds (53 kilograms) and gasoline which is about 156
pounds (71 kilograms), according to the U.S. Energy Information
Administration.

 

The U.S. had been pushing other nations, especially China and India which
are building new coal plants pell-mell, to get rid of the fuel, which causes
more heat-trapping carbon emissions than other power systems.

 

Saturday's action 'sends a pretty powerful international signal that the
U.S. is putting its money where its mouth is,' Meyer said.

 

The Powering Past Coal Alliance started six years ago and had 50 country
members until Saturday when the United States and six others joined, said
alliance spokeswoman Anna Drazkiewicz. Others joining Saturday include the
Czech Republic and the Dominican Republic.

 

"Energy transition is not an easy task and as such requires strong
cooperation and support," said Kosovo environment minister Artane
Rizvanolli. "Joining the Powering Past Coal Alliance reiterates Kosovo's
clear commitment and ongoing efforts towards a socially just and clean
energy sector."

 

- Leadership.

 

 

 

 

 

South Africa: 'Air Conditioners to Blame for Stage 6' - Eskom

Eskom has pointed the finger at air conditioners and fans as among the
reasons behind the recent stage 6 load shedding.

 

Karabo Rakgolela, the general manager of Lethabo Power Station, said the
recent heatwave in the Free State led to a significant increase in power
usage.

 

He said the temperature swings had caused problems, leading to the temporary
loss of power.

 

"In a heatwave such as we've had, you can see the usage go up as the entire
affluent South Africa switches on their air conditioning and fans and that
usage stays up as long as it stays warm," he stated.

 

High temperatures also caused issues at power stations, resulting in tube
leaks and unit tripping, MyBroadband reported.

 

Eskom ended up running on diesel late into the night during the recent
heatwave.

 

Eskom also admitted to overusing its emergency reserves, contributing to the
rise of power cuts during stage 6 load shedding.

 

The overuse of emergency reserves has raised concerns about grid stability
and energy supply in the country.

 

Independent energy analyst Pieter Jordaan highlighted that Eskom's usage of
open-cycle gas turbines (OCGT) had gone past the 6% limit set by the
National Energy Regulator of South Africa (Nersa).

 

The dependence on OCGT generators has also led to increased costs, adding a
33% premium to the cost of electricity.

 

- Scrolla.

 

 

 

 

Africa's Vaccine Production Push Reshapes Global Health Landscape

Lusaka, Zambia — The novel coronavirus pandemic laid bare the stark
disparities in global access to essential medicines. The world's most
vulnerable populations were often left behind in the scramble for
life-saving vaccines, diagnostics, and therapeutics. This underscored the
urgent need for a paradigm shift in global health security and local
production as a pivotal step towards bolstering healthcare resilience and
accessibility worldwide.

 

In February 2021, UN Secretary-General Antonio Guterres described vaccine
equity as the "biggest moral test before the global community."

 

Despite the challenges, Africa's vaccine manufacturing future is looking
more promising.

 

A new era of vaccine production is dawning

 

At the International Conference on Public Health in Africa (CPHIA) held in
Lusaka, Zambia, high-level delegates and experts assembled to explore the
pressing need for accelerated local vaccine manufacturing across the
continent, aiming to address vaccine shortages and promote self-reliance.

 

 

In Africa, less than 1% of vaccines used are locally produced, with the vast
majority being imported from private sector suppliers around the globe.
However, over the past two years, Africa has made significant strides in the
production of medical commodities, with a particular focus on vaccines. The
African Union, Africa CDC, and various international partners have been
involved in supporting infrastructure and capacity in vaccine delivery, as
well as in facilitating engagement with the private sector and international
organizations to expand vaccine manufacturing in Africa.

 

This continent-wide effort has the potential to reshape the relationship
between local communities in Africa and the global health sector.

 

More than 30 new vaccine manufacturing initiatives are currently underway in
Africa, signaling a significant expansion of the continent's vaccine
production capacity. This effort is aimed at safeguarding Africa against
future pandemics and disease outbreaks, as well as reducing the delays and
challenges faced in accessing vaccines, as experienced during the COVID-19
pandemic.

 

 

Africa CDC Director General Dr. Jean Kaseya pointed to the critical role of
local vaccine manufacturing in safeguarding the health and well-being of
Africa's citizens. He added that achieving self-sufficiency in vaccine
production is a cornerstone of the continent's journey towards comprehensive
healthcare security. The Partnerships for African Vaccine Manufacturing
(PAVM) is spearheading this ambitious endeavor, which recently received a
significant boost with the backing of the global vaccines platform, Gavi,"
said Kaseya.

 

Dr. Kaseya said that the African Union, along with its members and partners,
set an ambitious goal in 2021 to achieve at least 60% local production of
vaccines by 2040. This initiative, driven by the COVID-19 pandemic, has
underscored the urgent need to strengthen Africa's pharmaceutical
manufacturing capabilities.

 

 

He acknowledged that Africa has faced challenges in the past, particularly
in terms of infrastructure, logistics, and production capacity. However, he
expressed his determination to overcome these obstacles and create a robust
ecosystem for manufacturing vaccines and other medical products.

 

To address these challenges and advance the local manufacturing agenda, Dr.
Kaseya announced the establishment of a Platform for Harmonised Africa
Health Products Manufacturing (PHAHM).

 

"Therefore, I have decided to create a directorate that will lead this
agenda and in a few days, I hope most African people will have the
opportunity to send applications for all of the positions we are creating
starting with the position to lead the platform that we are talking about,"
he said.

 

He urged all African citizens to apply for positions within the newly
created directory that will oversee all aspects of local manufacturing.

 

Africa's pursuit of diagnostic and manufacturing self-reliance

 

Professor Abderrahmane Maaroufi, the Director of the Institut Pasteur Maroc
(National Public Health Institute) added that Africa is steadily progressing
towards self-sufficiency in diagnostics and manufacturing, with notable
advancements achieved in recent years. The African Union has spearheaded
several initiatives to foster local production of essential health products,
and there is a burgeoning commitment among African nations to invest in this
domain.

 

"Initiatives like the African Collaborative for Advanced Manufacturing of
Vaccines and the establishment of Centers of Excellence are commendable," he
said. "However, challenges persist, such as limited technology and
distribution barriers hindering local manufacturing's full potential."

 

Maaroufi said that the advantages of local manufacturing of diagnostics and
therapeutics are that it is both more cost-effective and efficient. He noted
that Africa currently manufactures less than 2% of its required diagnostics
and therapeutics, with a staggering 97% being imported from outside the
continent. This reliance on external sources can hinder Africa's ability to
effectively combat diseases.

 

Vaccine development and pandemic preparedness

 

Frederick Kristensen, the Deputy CEO of the Coalition for Epidemic
Preparedness Innovations (CEPI), said that as we grapple with the lingering
impacts of COVID-19 and confront other devastating outbreaks, the need for
robust health security has never been more evident.

 

"We've witnessed devastating outbreaks, emphasizing the urgency of investing
in health security. Climate change further complicates accessibility,
amplifying the need for rapid response," he added.

 

 

"We're at a historic juncture where science, technology, finance, and
political will converge, offering an unprecedented opportunity to enhance
pandemic preparedness. African countries, through initiatives like the
Africa CDC, are tackling these challenges collectively. Our contributions
include supporting vaccine manufacturing capacity in Senegal and South
Africa and aiding volunteers in developing an mRNA-based vaccine."

 

"The 100-Day Mission, endorsed by parties like the G7, aims to have vaccines
ready within a hundred days of identifying threats," he said. "This shift
from preparedness response necessitates global, locally-driven manufacturing
for swift, top-quality vaccine production. Focusing on crucial factors among
the myriad of infectious diseases could significantly expedite responses."

 

"Strengthening regulatory agencies and improving clinical trial protocols
are essential to safely and efficiently evaluate countermeasures. Achieving
this requires building capacity sustainably, leveraging existing research
infrastructure, and fostering local expertise," he said. "In a significant
step forward, we have partnered with the Medical Research Council of the
Gambia and the International Vaccine Initiative to enhance clinical research
capacity in West Africa. This initiative is already gaining momentum, and we
aim to expand it to other regions, such as East Africa."

 

Global health architecture and partnerships

 

Echoing the sentiments of her fellow delegates, Heidy Rombouts, the Belgian
Director General for Development Cooperation and Humanitarian Aid at the
Belgian Ministry of Foreign Affairs acknowledged the glaring deficiencies
exposed by the COVID-19 pandemic in global health systems, emphasizing the
urgent need for a comprehensive overhaul of the international health
landscape.

 

"The theme of 'Repositioning Africa in the Global Health Architecture' is
undeniably compelling," she asserted. "It should resonate far beyond the
continent, engaging the global community in a concerted effort. But what
does this repositioning entail for us, as partners engaging with Africa and
preparing for the next pandemic?"

 

Rombouts announced that Belgium would hold the EU presidency from January
1st for six months. "I have come to this conference with an open mind, eager
to listen and learn more about what 'repositioning' means for us - for
Europe, for the European Union, and our partnership with Africa," she
remarked.

 

To strengthen partnerships in the health sector, Rombouts advocated for
expanding collaboration to encompass a broader range of actors, including
regulatory bodies, primary healthcare providers, market analysts, and market
intelligence providers. She acknowledged that this may necessitate stepping
out of comfort zones, forging new networks, and cultivating collaborative
relationships with diverse communities. In addition, she emphasized the
importance of enhancing communication strategies to effectively demonstrate
how development finance institutions can support market initiatives and
leverage investments in primary healthcare.

 

"Partnerships must extend beyond a single level," Rombouts asserted, echoing
the adage "No one is safe until everyone is safe."

 

"We must engage at all levels, from local to regional, sub-regional,
continental, and global. Technology can play a pivotal role in consolidating
local information for faster decision-making at regional and sub-regional
levels," she explained.

 

"Partnerships will be multi-layered," Rombouts said, citing Belgium's
collaboration with Senegal and Rwanda to strengthen local health systems and
regulatory bodies within the Team Europe approach as an exemplary model.
This initiative aims to boost local manufacturing of vaccines, medicines,
and health technologies in Africa, with a focus on creating an enabling
environment for sustainable production and strengthening regulatory
structures."

 

"Engaging in a mutual learning process and facilitating two-way learning
through twinning arrangements are key aspects of this journey," she said.

 

 

 

 

South Africa: Govt's Failure to Prevent Energy Crisis is Unconstitutional,
Court Finds

The Pretoria High Court has ruled that numerous government failures caused
load shedding, infringing on South Africans’ basic rights in breach of the
Constitution, News24 reports.

 

The December 1 ruling, written by Judge Norman Davis on behalf of a full
bench of judges, ordered Electricity Minister Kgosientsho Ramokgopa to
ensure by the end of January 2024 that "there shall be sufficient supply or
generation of electricity to prevent any interruption of supply as a result
of load shedding" to all public health facilities, all public schools, and
the South African Police Service and police stations.

 

The ruling sets out several government failures which it found had resulted
in the country's energy crisis and rotational national power cuts.
Government failures include:

 

running power stations beyond their capabilities without maintaining them

not ensuring or approving enough revenue for services,

and failing to protect Eskom against criminal activity, corruption and state
capture.

The court found that these failures breached South Africans’ rights to human
dignity, to life, to freedom and security, to an environment that is not
harmful to health and well-being, of access to healthcare services, to
access of sufficient food and water, and to basic education.

 

Moneyweb reports that the ruling comes at a time when preparations for
national and provincial elections next year are gaining momentum.

 

 

 

 

South Africa: Prasa's Long Distance Trains Resumes Service

The Passenger Rail Agency of South Africa (PRASA) has announced that the
long- distance Mainline Passenger Services (MLPS) under its rail division
has resumed the Johannesburg to Durban and Cape Town services on the
Shosholoza Meyl.

 

"Resuming the long-distance passenger rail services is our commitment to
offering an alternative mode of transportation, connecting people with to
families and friends, and offering holiday-makers an affordable and
convenient means to reach their destinations," PRASA said.

 

The services, which were both suspended in 2021 due to operational and
network infrastructure challenges, are set to resume just in time for the
December holiday period.

 

"These services resume as cash-strapped consumers are battling with the
costs of long-distance travel. For just less than a R1 000 for a single
trip, PRASA is inviting passengers to a unique experience to their
destinations far from the hassles of traffic congestion and escalating
travelling costs.

 

 

"The trips are more than just reaching one's destination; it promises a
unique an unforgettable experience for families and friends alike," the
agency said.

 

PRASA announced that Shosholoza Meyl will be offering an affordable private
car transportation service at an additional cost for passengers travelling
to Durban.

 

This service is also open to the general public, providing a convenient
option for those who wish to transport their vehicles.

 

PRASA said it is making significant strides in rebuilding and recovering the
rail infrastructure, with 27 commuter rail lines restored to date.

 

"The business is also working on restoring long-distance passenger rail
services, with Shosholoza Meyl currently transporting people from
Johannesburg to Queenstown and Musina. The resumption of the Johannesburg to
Durban and Cape Town services mark another milestone in the revival of
long-distance passenger rail services."

 

Prasa reminded customers that limited seats and space are available and
recommended that passengers make a booking and finalise travel arrangements
well in advance by calling the call centre on 011 013 0231/2/3 alternatively
012 748 7362 or 015 299 606 or visiting the nearest Shosholoza Meyl Ticket
office.

 

- SAnews.gov.za.

 

 

 

 

Rwanda: Mining - Officials Confident Sector Will Fetch U.S.$1 Billion By End
of Year

Officials at the Rwanda Minerals, Petroleum and Gas Board (RMB) have
expressed optimism that this year will end with the mining sector
registering $1 billion (approx. Rwf 1.2 trillion).

 

According to data from RMB, in the first three quarters of the year, the
mining sector fetched $851.6 million, thanks to a remarkable increase in the
production of tin, tantalum, and tungsten (3Ts), gold, lithium, and
gemstones which generated a 45.6 per cent increase in mineral export
earnings compared to last year.

 

As the country waits for the results of the fourth quarter, RMB's CEO Yamina
Karitanyi, says the sector "is on track to achieve its $1 billion
projection."

 

 

This year's growth shows "that the mining sector is poised to continue its
upward trajectory, contributing significantly to the nation's economic
growth and prosperity," Karitanyi stated during the opening of the mining
week on Monday, December 4.

 

She said Rwanda has positioned itself as an ideal mining investment
destination, thanks to the investment-friendly ecosystem, competitive mining
legal and regulatory framework, transparent policies, and a steadfast
commitment to health, safety and environmental standards.

 

The National Strategy for Transformation (NST1) sets an ambitious target for
the mining sector to become a $1.5 billion industry by 2024.

 

Speaking at the mining week event, Prime Minister Edouard Ngirente said the
government recognises the potential of the industry as the country's
economic backbone, particularly in revenue generation and job creation.

 

 

"Achieving it (the 2024 target) requires concerted efforts to enhance
compliance with industry standards, invest in cutting-edge technologies, and
give priority to human capital development," he said.

 

In alignment with the country's vision for mining, RMB has this year
embarked on a three-year mineral exploration campaign into previously
identified 52 Potential Targeted Areas (PTAs) to determine the mineral
inferred resources, further clarifying the quantity and quality of these
resources.

 

This is expected to guide the targeted promotion of the mineral value chain,
and significantly increase investments.

 

"To achieve this, we call on all our stakeholders, partners and mining
industry players to continue fostering more strategic partnerships in order
to contribute to our sector's growth. RMB needs a robust mining sector which
will play its rightful role in contributing to Rwanda's economic growth,"
Karitanyi said.

 

She noted that though the country is celebrating achievements, officials
acknowledge that there are challenges in regulation and compliance.

 

In the past five years, significantly due to illegal mining, at least 429
lives were lost and some 272 others injured.

 

Besides that, mining investors say they are facing challenges related to
finance since banks never give them any loans.

 

"They don't give us credit. You should ask them to start trusting us," Amiel
Mpendahende, an owner of three mining concessions in Ngororero and Rusizi,
told the Prime Minister.

 

- New Times.

 

 

 

 

Rwandan Firm Wins U.S.$1 Million Award for Solar Energy Solutions

Ignite Power, a renewable energy firm from Rwanda, won a $1 million (over
Rwf1.2 billion) award from the Zayed Sustainability Prize organised by the
United Arab Emirates (UAE), for its contribution to solar energy access
among Rwandans, including helping farmers withstand climate change shocks
through solar-powered irrigation, The New Times has learnt.

 

It is one of 11 winners in various categories who were honoured on December
2 by UAE President Sheikh Mohamed bin Zayed Al Nahyan.

 

The awarding ceremony was held as part of the UN Climate Change Conference
(COP28) hosted by the UAE at Expo City Dubai. COP28 runs from November 30
through December 12.

 

 

Ignite Power emerged winner in the Prize's Energy category. According to
organisers, the company was recognised for its significant efforts in
providing affordable electricity to remote communities in sub-Saharan
Africa, indicating that it has supplied solar power solutions to 2.5 million
people through a pay-as-you-go model, thereby avoiding 600,000 tonnes of
carbon dioxide emissions.

 

They added that it has also introduced innovative solar-powered irrigation
solutions, creating 3,500 job opportunities in local communities.

 

The award was presented to Ignite Power co-founder Angela Homsi by UAE
President Sheikh Mohamed bin Zayed Al Nahyan.

 

"Winning the prize and the $1m will allow us to scale our impact
exponentially. Let me give you an example of our impact; every $100 means a
family of five receives power. That's how far a dollar can go," Homsi said,
commenting on the award implication, according to a post put on X on
December 4, by Zayed Sustainability Prize.

 

 

"Winning the Prize and the US 1M will allow us to scale our impact
exponentially. Let me give you an example of our impact: every US $100 means
a family of 5 receives power. That's how far a dollar can go." Angela Homsi,
@Ignite_Solar-- Zayed Sustainability Prize (@ZSP_ORG) December 3, 2023

 

"Today, we're focusing on affordable and sustainable access to power, using
a range of power systems. This includes very basic home systems and extends
to larger setups designed for schools and other institutions," she said in
an earlier post (on December 3).

 

Before the awards ceremony, Homsi said Ignite was chosen as a finalist out
of 5,000 companies that applied for the prize this year.

 

Data from the company show that its first projects in Rwanda and Mozambique
are the largest single solar projects in SSA (Sub-Saharan Africa), at $38m
and $48m budgets.

 

 

 

 

South Africa: Black November Sales Reveal Most Consumers Are Struggling

Big-screen TVs and other luxuries seem to be a thing of the past for most
South Africans, who strategised their shopping and chose to spend their
hard-earned money on necessities instead.

 

One person dropped R3.3-million on a single transaction, but for most
ordinary consumers Black Friday was a less expensive affair, with purchase
values down on last year. There was also far less of an appetite for luxury
goods.

 

PayFlex said purchases on its payment platform averaged R1,364 (R300 less
than last year). Absa, through which most of South Africa's top-tier
retailers process payments, saw a decline in average purchase value from
R580 to R523. FNB said the number of transactions made on its cards remained
steady year on year, but transactions were 9.7% higher on the Saturday and
Sunday than last year. Standard Bank, however, saw volumes up by 8% and
values by 4%.

 

Tshipi Alexander, Absa's head of consumer cards, said the bank had noticed a
slight decrease in the average transaction value over the past two years.

 

"The consumer is certainly seeing some pressure. They are taking advantage
of the good deals that are out there. We saw a big rise in groceries and
clothing, which suggests customers are looking for value in basic goods, not
the large purchases of the past."

 

Absa had expected to see a drop in sales but that didn't happen: with payday
for...

 

-Daily Maverick.

 

 

 

 

Tanzania: World Bank Group President to Visit Tanzania

DAR ES SALAAM: THE President of the World Bank Group, Ajay Banga, will be
visiting Tanzania for a two-day trip starting today.

 

According to a statement from the World Bank office in Tanzania, Mr Banga
has scheduled high-level discussions with President Dr Samia Suluhu Hassan,
Zanzibar President Dr Hussein Mwinyi and various government ministers and
officials during his visit.

 

Tomorrow, President Samia, President Mwinyi and Mr Banga will jointly
preside over the opening ceremony of the International Development
Association (IDA) Midterm Review meeting in Zanzibar.

 

As part of his visit, the World Bank leader will also be visiting Muungoni
Village Seaweed Farms and Jang'ombe Hub Secondary School, both located in
Zanzibar.

 

 

The purpose of these visits is to meet with project beneficiaries and
witness firsthand the transformative impact of IDA support.

 

Muungoni Village received support from the South-West Indian Ocean Fisheries
Governance and Shared Growth Project (SWIOFish), which has benefited over
15,000 seaweed farmers in the country, with 74 per cent of them being women.

 

The project provided resources for seaweed farming, transportation, and
training, resulting in reduced costs, increased production, and improved
access to markets. This, in turn, has led to higher incomes and enhanced
community resilience against climate challenges.

 

Jang'ombe is one of 24 hub schools for enhanced Math, Science and English
learning (MSE) supported under the Zanzibar Improving Student Prospects
(ZISP) Project.

 

 

Through this project, the school, along with others, has been equipped with
modern learning facilities, including an ICT lab, an English/Language lab, a
library, a toilet block and a teacher preparation room.

 

Additionally, the school has received furniture and all the necessary
equipment, as well as training for teaching staff.

 

The overall results of the ZISP project include the construction of 206
additional classrooms and learning facilities, all equipped with up-to-date
teaching and learning materials.

 

As of November 2023, the IDA-financed portfolio in Tanzania amounts to 8.3
billion US dollars, consisting of 23 national projects totalling 7.26
billion US dollars in commitments and six regional projects totalling 1.05
billion US dollars in commitments.

 

Key sectors in the national portfolio include transport, education, water,
urban resilience, energy, and social protection.

 

Other projects cover governance, digital development, human development, and
poverty. Tanzania's regional projects focus on agriculture, energy,
education, and poverty and equity.

 

IDA is the global solidarity fund of the World Bank Group that supports
low-income countries. IDA works to create a world free of poverty on a
livable planet. Since 1960, IDA has provided 533 billion US dollars in
funding to 115 countries, transforming the lives of hundreds of millions of
people, including those in Tanzania.

 

The Midterm Review meeting will discuss the implementation and delivery of
the 20th IDA financing round (IDA20), which is the largest replenishment to
date, raising 93 billion US dollars to support poor countries. IDA20
concludes in 2025, and the Midterm Review will also set the stage for the
IDA21 replenishment.

 

- Daily News.

 

 

 

 

 

Tesla whistleblower casts doubt on car safety

A former Tesla employee has told the BBC he believes the technology powering
the firm's self-driving vehicles is not safe enough to be used on public
roads.

 

Lucasz Krupski leaked data, including customer complaints about Tesla's
braking and self-driving software, to German newspaper Handelsblatt in May.

 

He said attempts to highlight his concerns internally had been ignored.

 

Tesla did not respond to requests for comment.

 

Elon Musk, the chief executive of Tesla, has championed its self-driving
technology.

 

"Tesla has by far the best real-world AI," Mr Musk said in a post on X,
formerly Twitter, on Saturday.

 

But, in his first UK interview, Mr Krupski told the BBC's technology editor,
Zoe Kleinman, he was concerned about how AI was being used - to power
Tesla's autopilot service.

 

Its autopilot feature, for example, includes assisted steering and parking -
but, despite its name, it does still require someone in the driver's seat
with their hands on the wheel.

 

"I don't think the hardware is ready and the software is ready," he said.

 

"It affects all of us because we are essentially experiments in public
roads. So even if you don't have a Tesla, your children still walk in the
footpath."

 

Mr Krupski said he had found evidence in company data which suggested that
requirements relating to the safe operation of vehicles that had a certain
level of autonomous or assistive-driving technology had not been followed.

 

He added that even Tesla employees had spoken to him about vehicles randomly
braking in response to non-existent obstacles - known as "phantom braking".
This also came up in the data he obtained around customer complaints.

 

Mr Krupski said he had felt compelled to share what he had found with data
protection authorities.

 

The US Department of Justice have been investigating Tesla over its claims
relating to its assisted driving features since January.

 

Tesla has also faced similar probes and questions from agencies including
the National Highway Traffic Safety Administration about its autopilot
system.

 

German newspaper Handelsblatt published the "Tesla Files" after Mr Krupski
shared 100GB of internal data he discovered.

 

The data protection authority in the Netherlands, where Tesla's European
headquarters are based, confirmed to the BBC it had been notified of the
data breach and was looking into the claim.

 

Barely sleeping

Mr Krupski said the last six months and experience of being a whistleblower
had been "terrifying".

 

"I barely sleep at night sometimes," he told the BBC.

 

But his actions have been recognised by others - he has been awarded the
Blueprint for Free Speech Whistleblowing Prize.

 

 

Jack Stilgoe, an associate professor at University College London who
researches autonomous vehicles, said Mr Krupski's claims raised wider
concerns about the technology.

 

"This is a sort of test case of artificial intelligence in the wild, on the
open road, surrounded by all the rest of us," he said.

 

The UK Government announced plans for an Automated Vehicles Bill to outline
a legal framework for self-driving cars in the King's Speech in early
November.

 

"We'll have to see as the bill gets developed whether it grapples with all
of the novel things about the technology," Prof Stilgoe added.-bbc

 

 

 

 

 

Forest City: Inside Malaysia's Chinese-built 'ghost city'

"I managed to escape this place," Nazmi Hanafiah laughs, slightly nervously.

 

A year ago, the 30-year-old IT engineer moved to Forest City, a sprawling
Chinese-built housing complex in Johor, on the tip of southern Malaysia. He
rented a one-bedroom flat in a tower block overlooking the sea.

 

After six months, he'd had enough. He didn't want to continue living in what
he calls "a ghost town".

 

"I didn't care about my deposit, I didn't care about the money. I just had
to get out," he said. We had arranged to meet in the same tower block he
used to live in.

 

"I'm getting goosebumps just being back", he said. "It's lonely around here
- it's just you and your thoughts."

 

China's largest property developer Country Garden unveiled Forest City - a
$100bn (£78.9bn) mega-project under the Belt and Road Initiative - in 2016.

 

At the time, the Chinese property boom was in full flow. Developers were
borrowing colossal sums of money to build both home and abroad for
middle-class buyers.

 

In Malaysia, Country Garden's plan was to build an eco-friendly metropolis
featuring a golf course, waterpark, offices, bars and restaurants. The
company said Forest City would eventually be home to nearly one million
people.

 

Eight years on, it stands as a barren reminder that you do not need to be in
China to feel the effects of its property crisis. Currently, only 15% of the
entire project has been built and, according to recent estimates, just over
1% of the total development is occupied.

 

Despite facing debts of nearly $200bn, Country Garden told the BBC it is
"optimistic" the full plan will be completed.

 

'It's creepy here'

Forest City was billed as "a dream paradise for all mankind." But in
reality, it was aimed squarely at the domestic Chinese market, offering
aspirational people the chance to own a second home abroad. Its selling
prices were out of reach for most ordinary Malaysians.

 

For Chinese buyers, the property would be an investment that could be let
out to local Malaysians, such as Mr Nazmi, or used as a holiday home.

 

In reality, Forest City's isolated location - built on reclaimed islands far
from the nearest major city Johor Bahru - has put off potential tenants and
earned it its local nickname "Ghost City".

 

"To be honest, it's creepy," says Mr Nazmi. "I had high expectations for
this place, but it was such a bad experience. There is nothing to do here"

 

Forest City certainly gives off a strange atmosphere - it feels like an
abandoned holiday resort.

 

On the deserted beach, there's a shabby children's playground, a rusting
vintage car and, perhaps aptly, a white concrete "staircase to nowhere". By
the water there are signs warning against swimming because of crocodiles.

 

In the purpose-built shopping mall, many of the shops and restaurants are
closed - some units were just vacant construction sites. In a surreal touch,
there is an empty children's train doing endless laps around the mall while
playing "Heads, shoulders, knees and toes" on loop in Chinese.

 

Next door, in Country Garden's showroom, there is an enormous model city
showing what a completed Forest City would look like. Sitting at the sales
stall, are a couple of bored-looking employees - the sign above them said:
Forest City. Where Happiness Never Ends.

 

By far the biggest draw here is the area's duty-free status. On the beach
you'll find piles of discarded alcohol bottles and pockets of local
drinkers, who provide the bulk of human activity here.

 

When night falls, Forest City becomes pitch dark. The enormous apartment
blocks which loom over the complex each contain hundreds of apartments, but
no more than half a dozen have their lights on. It's hard to believe anyone
actually lives here.

 

"This place is eerie," says Joanne Kaur, one of the few residents I
encounter. "Even during the day, when you step out of your front door the
corridor is dark."

 

She and her husband live on the 28th storey of one of the tower blocks -
they're the only ones on the whole floor. Like Mr Nazmi, they are renters
and, also like Mr Nazmi, they plan to leave as soon as they can.

 

"I feel sorry for people who actually invested and bought a place here," she
says. "If you were to Google 'Forest City', it's not what you see here
today.

 

"It should be the project that was promised to the people, but that's not
what it is," she added.

 

A man sits in the hallway in front of empty Forest City Outlet Mall, a
development project launched under China's Belt and Road Initiative in
Gelang Patah in 

 

Speaking to people in China who bought units in Forest City is not easy. The
BBC did manage to reach a handful of owners indirectly, but they were
reluctant to comment, even anonymously.

 

However, social media offers some anecdotal evidence. Under a post praising
the development, one buyer from Liaoning province said: "This is very
misleading. The current Forest City is a ghost town. There are no people at
all. It is far from the city, has incomplete living facilities, and it is
difficult to move without a car".

 

Other comments asked how they could get a refund on their property, with one
saying: "The price of my unit has dropped so much, I'm speechless."

 

A tough sell

This kind of frustration is being felt across China, where the property
market is in disarray.

 

After years of rampant borrowing by developers, the government feared a
bubble was forming and imposed strict limits in 2021. "Houses are for living
in, not speculation" was the mantra of China's leader Xi Jinping.

 

As a consequence of these measures, major companies have run out of cash to
finish huge projects.

 

In October, Country Garden was forced to abandon two projects in Australia,
selling off an unfinished development in Melbourne and another in Sydney.

 

Local political factors have also contributed to the current situation at
Forest City. In 2018, Malaysia's then prime minister Mahathir Mohamad
restricted visas for Chinese buyers, citing his objection to a "city built
for foreigners".

 

Some analysts have also questioned the wisdom of building a mega-development
in a country whose political and economic environment is unstable. The
current Malaysian government is supportive of the Forest City project but,
to a prospective buyer, it is unclear how long that will last and to what
extent.

 

Other unexpected issues, such as Covid travel restrictions and controls on
how much money Chinese citizens could spend abroad, have especially hampered
overseas projects launched by giants such as Country Garden.

 

"I think they probably pushed it a bit too far, too fast," says Tan Wee Tiam
from KGV International Property Consultants. "Before launching a hugely
ambitious project like this, the critical lesson to learn is ensuring you
have sufficient cash flow."

 

This week the world's most indebted real estate company, Evergrande, faced a
liquidation hearing at a court in Hong Kong. In the end, the Chinese company
was given a six week reprieve to agree on a repayment plan with its
creditors as the judge adjourned the hearing for a seventh time.

 

An empty shop at Forest City

Image caption,

Country Garden insists that the project is 'safe and stable'

Country Garden insists the current situation in the Chinese property market
is just "noise" and its Malaysian operation "runs its business as usual".

 

It also said plans to include Forest City in a new special economic zone
between Malaysia and neighbouring Singapore showed the project was "safe and
stable".

 

But without access to cash, it is hard to see how projects such as Forest
City can be finished or how it will attract people to live there any time
soon. At the moment, Chinese-built property is a tough sell, to put it
mildly.

 

"It's a chicken and egg situation," says Eveline Danubrata, from REDD
Intelligence Asia. "A developer typically relies on pre-sales to help fund
construction."

 

"But buyers won't put their money in if they're not sure whether they'll get
their apartment keys in the end."

 

Ambition and reality

When it comes to China's property crisis, Forest City is a classic case of
ambition versus reality. Some local factors may have contributed to the
current situation, but it is proof that building tens of thousands of
apartments in the middle of nowhere is not enough to convince people to live
there.

 

Ultimately, the fate of Forest City - and hundreds of projects across China
- depends on the Chinese government. Last month, there were reports that
Country Garden had been placed on a preliminary list of developers that
would receive financial support from the Chinese government - though the
extent of that support still is not clear.

 

It's unlikely that people like Mr Nazmi will return though: "I will
definitely choose more carefully next time," he says. "But I'm happy I've
left this place - now I've got my life back."-bbc

 

 

 

Gold price hits record high as bets on interest rates shift

Gold prices have hit a new high, while the value of Bitcoin has also surged.

 

The gains come as traders switch investing strategies, after nearly two
years when rising interest rates helped fuel demand for US dollars and
certain kinds of debt.

 

Investors now see a rising chance of rate cuts, which has reignited interest
in other assets.

 

As Asian markets started trading on Monday, the price of gold jumped above
$2,000, up 3%, before retreating.

 

Demand for dollars ticked up again later in the trading session on Monday,
helping to push gold into retreat. Many investors holding gold were also
taking advantage of the recent highs to sell, analysts said.

 

The gains have followed a weeks-long climb for the metal, which is seen as a
"safe haven" and saw demand rise after the start of the Israel-Gaza war.

 

The latest rally was sparked by comments on Friday by the head of the US
central bank, Jerome Powell.

 

The Federal Reserve upended financial markets last year as concerns about
soaring inflation prompted it - and central banks around the world - to
abruptly push interest rates to the highest levels in more than two decades
to try to stabilise prices.

 

The moves forced many investors to re-think strategies, as investments
considered less risky started to pay more.

 

But in a speech on Friday, Mr Powell said the Federal Reserve's policy was
now "well into restrictive territory" - meaning that rates were now high
enough to cool the economy and stabilise prices, without any immediate need
for further hikes.

 

Indeed, traders increasingly expect the bank to actually cut rates starting
as soon as March 2024, though Mr Powell has sought to dampen those
expectations.

 

"If signs of low interest rates become more evident, gold should continue to
soar next year," Alexander Zumpfe, a precious metals trader at Heraeus, told
Reuters.

 

Financial markets in the US generally have rallied in recent months, as
analysts grow more optimistic that the bank will be able to tame inflation
without a significant hit to the American economy.

 

Why is Bitcoin rising again?

The price of Bitcoin also continues to recover after higher rates and a
series of scandals in 2022 helped spark a plunge.

 

The most well-known digital asset momentarily surged past $42,000 - its
highest level since April 2022. Its price has more than doubled since the
start of the year.

 

Bitcoin is also hoping investors will start to move on, after US regulators
have taken action against the heads of two of the biggest crypto trading
firms, FTX and Binance.

 

US regulators are expected to approve new kinds of trading products linked
to Bitcoin as early as next month.-bbc

 

 

 

 

Booking.com users angry at firm's response to hacks

Booking.com users have spoken of their anger at the company's failure to
stop them falling victim to cyber-criminals.

 

For at least a year, fraudsters have been able to infiltrate its app and
trick users out of hundreds of pounds.

 

Dozens of people have contacted the BBC to say they have lost money, with
one saying she had been "failed" by the travel firm.

 

Booking.com said it was implementing new safety features but there was "no
silver bullet".

 

The company, which is one of the biggest hotel and holiday websites in the
world, has not itself been hacked.

 

Instead, criminals have tricked their way into the administration portals of
individual hotels that use the service.

 

This enables them to send messages from the official app and fool customers
into paying them instead of the hotel.

 

This kind of fraud has been happening for more than a year, but recently
appears to have increased in intensity with hackers taking to the dark web
to seek more victims.

 

Colleen Marples, 44, from the Derbyshire Dales, lost £147 when booking a
holiday in Egypt for her husband's 50th birthday in March.

 

After exchanging messages with what she thought was the hotel in Cairo via
the Booking.com app, she was sent a payment request. It had in fact come
from scammers.

 

"I clicked on it not suspecting it was a scam, given it was in the same
ongoing chat in the app," she told the BBC.

 

She has not been able to recover the money from the website or her bank.

 

"It's not a high amount of money for Booking.com but it's a significant
amount of money in everyday life.

 

"Booking.com have a duty to their clients and they've failed in this case. I
am still battling to get my money."

 

Another British customer, who wished to remain anonymous, told the BBC he
lost £1,200 after being tricked through the app.

 

He is also fighting to get a refund and said he felt "extremely let down".

 

"I believe, as a customer that chooses to use the official platform set up
by the company, you can expect a level of security and trust from within
that system."

 

Meanwhile, Ian Robinson, 64, from Cumbria, described how hackers attempted
to scam him twice for £122 and then £283 at two unrelated hotels in separate
towns, as he booked a road trip in the UK.

 

"Luckily, I phoned the hotels directly and so avoided getting caught, but
when I reported it to Booking.com, they weren't interested," he said.

 

A spokesman for Booking.com said that there was no "silver bullet to
eradicate all fraud on the internet" but that the company's security team
were always monitoring and stopping new threats.

 

"We are implementing new measures to assure the account security of both our
customers and partners, including new security features to lock or block
inactive partner admin accounts, which is where we have seen fraudulent
activity take place once scammers get unauthorised access to the hotel's
Booking account."

 

The company said it was also monitoring for suspicious activity on its app
and disabling links being shared if the chats appear illegitimate.-bbc

 

 

 

 

Ryanair denies passengers must pay to download boarding pass

Ryanair has said reports of a change to its charging policy are false and
that passengers have never been asked to pay to download boarding passes.

 

Over the past few days travellers have complained on social media that they
have had to pay a "scandalous" new fee to access their boarding passes
online.

 

They were only able to download the electronic pass if they paid up to £21
for a seat first, they said.

 

The alternative was to queue for a paper boarding pass at the airport.

 

"All Ryanair passengers can pay for a reserved seat if they so wish or if
passengers wish to avoid this seat fee, they can select a randomly allocated
seat entirely free of charge," a Ryanair spokesperson said.

 

However, several passengers have complained on social media that if they
chose the option of a randomly allocated seat they were told they would have
to pick up a paper boarding pass at the airport, a problem first reported in
the Mail on Sunday two days ago.

 

A series of indignant posts on X, formerly Twitter, have addressed Ryanair
directly.

 

"When and why did you start this carry on? I now have to QUEUE to collect my
boarding pass at the airport?" said one passenger travelling from London to
Belfast early on Monday morning.

 

Another passenger said: "I just can't believe your new policy of not
allowing passengers to create a boarding pass (mobile or print-out) unless
they buy a seat, forcing them to join a check-in queue (30m or longer) to do
so for no other reason for you to make a few quid. Scandalous."

 

How a budget airline took off on TikTok

Have airlines gone too far with their extra fees?

Couple 'horrified' at £110 Ryanair check-in fee

"This definitely happened to me," said Neil Buckley, who flew to Riga with
Ryanair at the weekend and said he felt forced to pay £15.50 for reserved
seats - the equivalent of 10% of the ticket price.

 

"The app said if I opted for a free random seat I'd have to go to check-in
to get a paper boarding pass, which I've never seen before.

 

"If you wanted a digital boarding pass, it said you had to pay for a
reserved seat. I was really annoyed that I had to pay to avoid the
inconvenience of queueing at check-in," he said.

 

Another traveller said that staff at the airport check-in desk told them the
new policy was only for the last 20 passengers checking in for the flight,
and the charge had been introduced in the past few days.

 

Most airlines require passengers to check in online, confirming their
intention to travel. Usually you can download an electronic copy of your
boarding pass at the same time as doing this. Some passengers choose to pick
up a printed boarding pass at the airport instead. None of those choices
usually incur a charge.

 

However, these Ryanair passengers say they found they had to book a seat,
which typically cost between £7 and £21, before they were allowed to
download their boarding pass. The only alternative, if they chose not to pay
to book a seat, was to queue for a boarding pass at the airport, they said.

 

Low-price airlines such as Ryanair have gained a reputation for adding on
charges, such as for putting luggage in the hold, booking a seat and asking
for a seat with extra legroom.

 

Budget carriers argue that is how they keep basic fares low compared to
traditional carriers who usually provide meals, baggage and other add-ons
within the overall price.

 

Adding extra optional fees is known as "drip pricing" and can add
significantly to the total price.

 

Recent government research into the issue found these hidden fees were
common not only among airlines, but also at other travel firms, gyms,
restaurants, cinemas and theatres. More than half of firms in the
entertainment and hospitality industries operate some kind of drip pricing,
the research found.

 

The government recently held a public consultation into drip pricing and
whether there should be clearer information for consumers.

 

The consultation closed in October, but the government has not indicated
when it will respond.

 

Ryanair's pricing strategy has already been in the news in recent months,
after it charged an elderly couple £110 to print their tickets at the
airport. They had mistakenly downloaded their return tickets instead of
their outgoing ones.

 

In a second case that hit the headlines, Ryanair charged a family £165 to
check in at the airport after it said they had "unchecked themselves" even
though they turned up at the airport with their printed boarding passes.

 

Consumer rights expert Martyn James said the latest reports could indicate
an error with Ryanair's computer or booking systems.

 

"If this new charge is true, then it's something of a false economy for
Ryanair, as they'll need an awful lot more staff on the check-in desks to
print off all of those boarding passes," he said.

 

"However, this latest news story highlights a glaringly unfair scenario
that's been allowed to continue for far too long. Passengers should not have
to pay for reserving a 'standard' seat at all. Speedy boarding, more
legroom, premium - fine. But you should not have to pay to sit next to a
loved one."-bbc

 

 

 

 

 

 

 


 


 


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Bulls n Bears 

 

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Skype:         Bulls.Bears 



 

 

 


 

INVESTORS DIARY 2023

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy or
subscribe for any securities. The information contained in this report has
been compiled from s believed to be reliable, but no representation or
warranty is made or guarantee given as to its accuracy or completeness. All
opinions expressed and recommendations made are subject to change without
notice. Securities or financial instruments mentioned herein may not be
suitable for all investors. Securities of emerging and mid-size growth
companies typically involve a higher degree of risk and more volatility than
the securities of more established companies. Neither Faith Capital nor any
other member of Bulls ‘n Bears nor any other person, accepts any liability
whatsoever for any loss howsoever arising from any use of this report or its
contents or otherwise arising in connection therewith. Recipients of this
report shall be solely responsible for making their own independent
investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and d from third parties.

 


 

 


(c) 2023 Web: <http://www.bullszimbabwe.com>  www.bullszimbabwe.com Email:
<mailto:info at bulls.co.zw> bulls at bullszimbabwe.com Tel: +263 4 2927658 Cell:
+263 77 344 1674

 


 

 

 

 

 

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