Major International Business Headlines Brief::: 04 January 2024

Thu Jan 4 11:14:15 CAT 2024

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Major International Business Headlines Brief:::  04 January 2024 

ü  Kenya: Nairobi County Goes Cashless in Revenue Collection

ü  Liberia: X-Raying Wolokollie's Achievements

ü  Ethiopia Launches Major Project to Combat Deforestation, Boost Coffee Production

ü  Kenya: KRA Announces Temporary Closure of Itax System for Maintenance

ü  Mozambique: Prime Rate Falls After Six Months of Stability

ü  Mozambique: Overloaded Truck Destroys Bridge in Nampula

ü  Angola Pledges to Pay Companies' Arrears

ü  Angola's First Gold Refinery to Be Completed This Year

ü  SpaceX accused of unlawfully firing staff critical of Elon Musk

ü  Next warns of supply delays due to Red Sea shipping attacks

ü  A restless Gen Z is reshaping the Chinese Dream

ü  Ryanair hits out at Booking.com over flight cuts

Kenya: Nairobi County Goes Cashless in Revenue Collection

Nairobi — Nairobi Governor Sakaja Johnson has taken a significant step in modernizing revenue collection by announcing a strict "No Cash" policy.

Addressing the public at City Hall Annex on Wednesday, where he recently inaugurated the Customer Service Center and has been actively involved in assisting both the Revenue Collection and Customer Care teams, Governor Sakaja emphasized the importance of transitioning to a cashless system.

"I want to inform all Nairobians that, from now on, we will not be accepting any cash payments. If any member of my revenue team requests payment in cash, please report them to 0738 041 292, and we will take immediate action. Legitimate County staff members will not ask for cash payments. Furthermore, enforcement activities will commence in February. No staff member is authorized to enforce any collections this month. We are using this month as a transition period to fully implement the Unified Business Permit (UBP) system," stated Governor Sakaja.

The cashless policy is also aimed at taming rampant corruption at the county government.

"The Nairobi City County Government has adopted a strict "No Cash" policy for revenue collection. We urge our customers to make payments through the Nairobi City County Government Revenue collection accounts upon receiving their invoices. Payments can be made through:

Cooperative Bank, account name: Nairobi City County Revenue Collection, account number: 01141709410000.

Equity Bank, account name: Nairobi City County Revenue Collection, account number: 1770279910476.

USSD Number: *647#.

Revenue payers are also encouraged to visit the NairobiPay e-service Portal (www.nairobiservices.go.ke), City Hall Annex Customer Service Centre offices, or any Sub-county Finance offices for further clarification."

This cashless policy marks a significant move towards modernizing revenue collection methods and ensuring transparency in the process.

    Capital FM.

Liberia: X-Raying Wolokollie's Achievements

Liberia Revenue Authority Commissioner General-designate, Attorney Dr. Samora P.Z. Wolokolie, is a man with impeccable academic achievements, leaving footprints in public service that have been well documented.

Despite the political outcry that greets his nomination here Tuesday, 2 January 2024 by President George Manneh Weah, Dr. Wolokolie, currently Deputy Minister for Fiscal Affairs at the Ministry of Finance and Development Planning, has been a great asset to the government's financial house since his ascendency there.

His education, qualification and professional experiences are public records that are by all accounts, undebatable and highly esteemed.

The NEW DAWN has been skimming the achievements of Atty. Wolokolie while serving as Deputy Minister for Fiscal Affairs at the Ministry of Finance and Development Planning since February 14, 2023.

Revenue and Tax Policy

He effectively presented and defended national budget revenue estimates before the 54th Liberian Legislature for five consecutive years, providing professional guidance on tax policy that increased revenue from 2018 to 2023.

Dr. Wolokolie led the transition of the fiscal year from September to June to align with the calendar year (January to December) and supervised transitional activities on Value Added Tax (VAT).

The incoming Commissioner General also managed amendments to the Liberia Revenue Code, focusing on streamlining tax expenditures in accordance with section 16 of the Liberia Revenue Code, while issuing administrative regulations to facilitate trade and enhance revenue generation.

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Expenditure Policy and Execution

In his professional journey at the Ministry of Finance and Development Planning, he established transparency in budget execution by weekly publication of fiscal reports on the Ministry's website, demonstrating a clear adherence to transparency and accountability of public funds.

He implemented a comprehensive data management system, encompassing processes and people, while strengthening and promoting a robust Cash Management System that propels preparation of cash plans guiding allotment processes based on available cash resources in the bank.

Dr. Wolokolie is a team player and was very instrumental in renewing and extending the International Monetary Fund (IMF) program for Liberia.

He also instituted fiscal measures leading to a significant decline in inflation from double digits to single digits and an increase in the economic growth rate that sustains the cash stricken Weah administration in the last fiscal period.

Politics aside, Wolokolie is no novice coming to the revenue house. But the question that lingers in the public is whether he will win the confidence of the incoming Boakai administration that has already run to court to challenge his nomination for obvious political reason. Story by Jonathan Browne

    New Dawn.

Ethiopia Launches Major Project to Combat Deforestation, Boost Coffee Production

Addis Ababa — The Ethiopian government, in partnership with the United Nations Development Programme (UNDP) and the Global Environment Facility (GEF), has officially launched a major project to tackle deforestation, promote forest restoration, and integrate sustainability into the country's coffee value chains and food systems.

The project will be implemented under the theme "Preventing Forest Loss, Promoting Restoration, and Integrating Sustainability into Ethiopia's Coffee Value Chains & Food Systems" (FOLUR).

Minister of Planning and Development Fitsum Assefa, inaugurated the project today at the first FOLUR Project Steering Committee Meeting held in Addis Ababa.

Speaking at the opening of the meeting the minister said "The Ethiopian government is determined to take large-scale tree planting through our Green Legacy and landscape management actions, while efforts are ongoing to develop the integrated land use policy and planning."

Recognizing Ethiopia's rich coffee heritage and diverse landscapes, Fitsum highlighted the challenges posed by deforestation and land degradation, further intensified by climate change and population pressures.

These issues strain the country's natural resources and livelihoods, particularly in coffee-producing areas, she added.

"The FOLUR project is a crucial step in addressing these complex challenges," the minister emphasized. "It will contribute to the development of the national land use policy, the national forest sector development program, and the comprehensive Ethiopian coffee strategy, while improving coffee livelihoods, supporting the Green Legacy initiative, and aligning with the Climate Resilient Green Economy (CRGE) strategy and the updated Nationally Determined Contribution (NDC)."

The FOLUR project is expected to have a significant impact, aiming to: Adopt the National Integrated Land Use Policy, avoid 7,288,195 tons of CO2 equivalent emissions, improve livelihoods for 440,000 households, restore 10,500 hectares of unproductive coffee gardens, Restore and manage 60,000 hectares of dry and moist Afromontane Forest and bring 2,031,502 hectares of land under improved land use practices.

"The successful implementation of the FOLUR project requires effective coordination and collaboration among all stakeholders," Fitsum emphasized. "Today's steering committee meeting marks a crucial step in that direction, bringing together key partners to discuss the project's next steps and ensure its successful implementation."

In her remarks, the UNDP Deputy Representative to Ethiopia, Charu echoed the project's alignment with Ethiopia's climate resilience efforts.

She further highlighted FOLUR's contribution to addressing global deforestation and improving livelihoods, underscoring its importance for a sustainable future.

FOLUR stands as a testament to Ethiopia's commitment to environmental sustainability and its vision of building a prosperous and resilient future for its citizens. By working together, the government, partners, and local communities can ensure the success of this initiative and contribute to a healthier planet and a thriving coffee sector in Ethiopia.

    ENA.

Kenya: KRA Announces Temporary Closure of Itax System for Maintenance

Nairobi — The Kenya Revenue Authority (KRA) has announced the temporary closure of the iTax portal for maintenance.

The taxman says that the suspension will start tonight at 8 p.m. and end at midnight.

Its closure is expected to affect registration of new pins, tax return filling, payment slip generation, and ledger account checking, among others.

"Kindly be advised of a scheduled iTax maintenance today from 8PM to Midnight," KRA posted on its X platform.

"We apologize for any inconvenience caused."

    Capital FM.

Mozambique: Prime Rate Falls After Six Months of Stability

Maputo — The prime rate, which is responsible for loans and other credit operations in the financial system, has fallen from 24.1% to 23.5%, a reduction of 0.60 percentage points, according to a Mozambican Banking Association statement.

It means that the reference rate for bank loans, to be applied during the month of January, has fallen by 0.60 percentage points.

"From the previous 24.10%, the Reference Rate for the Mozambican Financial System is now 23.50%, of which 17.30% is the Single Index, calculated by the Bank of Mozambique; and 6.20% is the Cost Premium, calculated by the Mozambican Banking Association', reads the note.

According to the statement, "the Prime Rate of the Mozambican Financial System is the single reference rate for variable interest rate credit operations and results from the sum of the Single Index and the Cost Premium.'

This rate, the note explains, applies to credit operations contracted between credit institutions and financial companies and their customers, plus a margin (spread) which will be added to or subtracted from the Prime Rate, depending on the risk analysis of each specific credit category or operation.

The first quarter of last year was the period with the lowest reference rate, when it was 22.60%.

Mozambique: Overloaded Truck Destroys Bridge in Nampula

Maputo — A truck, overloaded with timber, caused the collapse on Monday of a metallic bridge over the Muririmue river, between the districts of Mogovolas and Moma in the northern Mozambican province of Nampula.

According to a report in Wednesday's issue of the Maputo daily "Noticias', the driver's mate, whose name was not given, died when the truck crashed off the bridge.

The driver has been taken to the Mogovolas district police command, while legal procedures are under way to hold the owners of the cargo responsible for the accident. They will be charged with violating the rules for crossing bridges in the province.

Since there is currently no water in the river bed, people are able to walk under the bridge. Cars have been able to ford the river bed further downstream - but that will be impossible if it starts raining, which is quite likely, since this is the rainy season.

Angola Pledges to Pay Companies' Arrears

Luanda — Angolan government has said it will pay arrears for companies with certified debts worth less than 150 million kwanzas, the Finance Ministry (MINFIN) said in a statement.

It will cover companies with no irregularities such as the need for approval and asset registration with certified debts pending payment available, with a cutoff date of December 15, 2023.

The initiative aims to ensure greater transparency in the arrears settlement process and discourage the practice of actions that harm the national business community.

As for companies with irregularities, namely debts not approved by the top manager of the Budget Unit (Minister or Governor) and debts falling into the category of assets (movable or immovable), without the asset register and inventory form, will receive no payment until the situation is regularized.

MINFIN calls on service providers to contact the Budgetary Units to collect information on the level of evolution of the respective processes and remedy any non-conformity found.

The Ministry of Finance clarifies that information on overdue domestic debt will not be provided when the applicant's legitimacy to access it cannot be proven, and discourages all types of practices that jeopardize the smooth running of the arrears settlement process. CLAU/AC/CF/AMP

    ANGOP.

Angola's First Gold Refinery to Be Completed This Year

Luanda — The first gold refinery in Angola, which is being built in the Viana Industrial Park in Luanda, will be completed later this year (2024), the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, said on Wednesday.

The infrastructure, whose first stone was laid in June 2022, is the result of the Angolan Executive's commitment to promoting the country's mineral value chain, capitalizing on the prospecting, exploration, transformation and commercialization operations of these resources.

Speaking during the New Year's greetings ceremony, the minister assured that the sector will restructure stalled projects and develop gold refining capacity.

The country's first gold refinery is an initiative of the Ministry of Mineral Resources, Oil and Gas, through Geoangol, a company owned by Endiama, expected to employ more than 80 workers.

In addition to this venture, Angola has 28 gold projects, of which 20 are in the prospecting phase, eight with exploration titles.

In 2021, 1,137 ounces were extracted, of the 7,500 projected, representing an execution of 13.82 percent, according to data from the Office of Studies, Planning and Statistics of the Ministry of Mineral Resources, Oil and Gas.

The country's gold subsector has an investment of $62.9 million dollars, of which $48.6 million in exploration and $14.3 million in prospecting. JAM/QCB/DOJ

    ANGOP.

SpaceX accused of unlawfully firing staff critical of Elon Musk

SpaceX has been accused of unlawfully firing eight workers who were critical of its multi-billionaire chief executive Elon Musk.

A complaint by a US labour agency says the employees sent an open letter to the firm's executives in 2022, detailing workplace concerns.

The letter called him a "distraction and embarrassment", according to Reuters news agency.

The BBC has approached the rocket and satellite firm for comment.

The complaint by a regional official at the National Labor Relations Board (NLRB) accused SpaceX of violating the workers' rights under federal labour law which allows co-workers to jointly advocate for better working conditions.

The complaint also said those involved in the open letter were interrogated before being discharged.

Lawyers for one of the former employees, Deborah Lawrence, have reportedly accused SpaceX of having a "toxic culture", where harassment is tolerated.

In a statement, seen by Reuters, Ms Lawrence said: "We wrote the open letter to leadership not out of malice, but because we cared about the mission and the people around us".

The NLRB's general counsel acts like a prosecutor and brings cases to the five-member board appointed by the organisation's president.

If SpaceX does not settle, the case will be heard by an administrative judge, whose decision can be appealed to the board and then to a federal appeals court. A hearing is scheduled for 5 March.

If the NLRB finds that the firings violated labour law, it can order that workers be reinstated and given back pay.

Mr Musk's companies have been accused of violating employees' rights before.

In October, the NLRB accused X, formerly known as Twitter, of illegally firing an employee over tweets challenging the company's return-to-office policy. X denied wrongdoing.

Electric car maker Tesla has also faced several NLRB complaints, which included allegations of race discrimination at its factories. Tesla has said it does not tolerate discrimination.

In August, the US Department of Justice sued SpaceX, alleging it discriminated against refugees and asylum seekers in its hiring practices.

At the time, Mr Musk posted on X: "US law requires at least a green card to be hired at SpaceX, as rockets are considered advanced weapons technology".-BBC

Next warns of supply delays due to Red Sea shipping attacks

Next has warned supplies of its products could be delayed if disruption to shipping in the Red Sea continues.

Attacks by Houthi rebels on vessels in one of the world's busiest shipping lanes have resulted in firms avoiding the area and taking longer routes.

Next said if access "difficulties" continue, delays to stock deliveries to the UK were "likely" early this year.

The warning came as a the retailer reported better than expected sales in the run-up to Christmas.

The bumper festive period led to the High Street giant, which has about 460 shops in the UK and Ireland, to raise its profit forecast by 5% for 2024.

But it warned of supply chain "risks" in its trading statement on Thursday.

"Difficulties with access to the Suez Canal, if they continue, are likely to cause some delays to stock deliveries in the early part of the year", the retailer said.

Next is not the first company to warn of issues in receiving goods and products, with global supply chains facing disruption as a result of the world's biggest shipping companies diverting journeys away from the Red Sea.

Assaults by Houthi rebels in Yemen on commercial vessels in recent weeks have resulted in many firms deciding to avoid one of the world's busiest shipping lanes, which sees vessels pass through the strait of Bab al-Mandab - a 20-mile wide channel that splits Eritrea and Djibouti on the African side and Yemen on the Arabian Peninsula - and then Egypt's Suez Canal further north.

The Houthi group has declared its support for Hamas and has said it is targeting ships travelling to Israel, though it is not clear if all the ships that have been attacked have been actually heading to Israel.

But because of the attacks and the threat, several container shipping companies have since diverted vessels to a much longer route around Africa's Cape of Good Hope and then up the west side of the continent, leading to shipping delays.

Chart showing various shipping routes

What do Red Sea assaults mean for global trade?

Red Sea attacks: 'Our costs have jumped 250%'

Some businesses have warned that container costs have increased in the past two weeks due to the disruption, prompting fears that prices in the shops could rise further.

But Next said it planned to "maintain zero inflation in selling prices" on last year due to its wholesale costs "in our own products mainly as a result of decreasing factory gate prices".-BBC

A restless Gen Z is reshaping the Chinese Dream

"I've had one, two, three, four... five jobs in the last few months," says Joy Zhang, a 23-year-old graduate.

She counts them on her fingers as she walks through a line of stalls at a local food market in Chengdu, a city in south-west China's Sichuan province.

"The fact is there are lots of jobs, the problem is whether you are willing to lower your expectations," she adds, before turning to negotiate a price for snow pea shoots.

Joy's experience is not unusual in today's China, where there are more graduates than employers that need them. Out of her class of 32, only around a third have found full-time jobs since graduating in the summer.

More than one in five people between the ages of 16 and 24 are jobless in China, according to official data from August 2023. The government has not released youth unemployment figures since then.

With China's boom years behind them, millions of young people are confronting a future they did not prepare for - and how they respond will shape the fate of the world's second-largest economy.

A revolution is taking place in the minds of the country's Generation Z, according to anthropologist Xiang Biao, an Oxford University professor who spends a lot of time speaking to young people in China.

"The entire life of young people has been shaped by the idea that if you study hard then at the end of your hard work there will be a job and a highly-paid, decent life waiting for you. And now they find out that this promise is no longer working."

Opportunities have shrunk in a slowing, highly-indebted economy that was hit hard by sudden and total Covid lockdowns. And under Beijing's unyielding grip, China is now an uncertain place to do business for both hungry entrepreneurs and foreign investors.

Old dreams and new

That was evident at a recent jobs fair in Beijing. Smooth-talking recruiters were mostly offering low-skilled jobs, such as assistants to sell insurance or medical equipment.

"I think the difficulties are just temporary. People with real capabilities will find jobs," insisted a 25-year-old masters graduate who along with his partner had just moved back from Germany. "The world's future is in China," he said.

Recent graduate Tianyu, who studied software engineering, seemed less sure of that. He said that although his skills were "hotly sought after", there were too many graduates with a similar resume. "So it's not easy to find a job."

Some of his friends are aiming for a government career given the glum prospects in the private sector. A record three million-plus Chinese sat for the civil service exam in November.

But Tianyu says: "Many are looking for jobs. Not many found jobs." And those that did get lucky are working in unrelated fields.

That's what Joy did too - undeterred, she took the jobs she could find. She begged a tour company to take her on as a guide for the panda park in Chengdu over the summer, she sold hot drinks and she interned at a kindergarten.

"These jobs don't have good prospects for your future," Joy says. "They offer low salaries and you are easily replaceable. That's why most people would rather stay at home."

She has now accepted a position selling educational material. It's not her dream job, but she sees it as a way of gaining experience.

Her parents, however, are worried. Joy comes from a small village in the hills, some 400km (248 miles) away. She is the first in her family to make it to university. Her father was so proud he held a banquet in her honour with more than 30 tables of guests.

"My parents expect me to have a better life and better job and income than their generation as I graduated from college," she says.

"They expect that after they supported my education, I could at least have a job... [but] I will insist on going down my own path at my own pace."

She stops to buy some hotcakes filled with thick brown sugarcane while pointing out a butcher making spicy Sichuan sausage. It's delicious but "too fatty" for her, she giggles.

She's come to love this vibrant city during her years at university. She wants to go further and one day travel to Australia and learn English.

The job market may be difficult, but Joy believes life for her is still easier than it was for her parents, when China was much poorer and dreams were far more distant.

"I think this generation is lucky and blessed," she says.

"There is lots of time and a lot of chances for us to achieve our goals. We can think deeper about what we really want. Compared to the last generation, we don't care that much about earning money. We think more about what we can do to achieve our dreams."

'Roll up your sleeves'

This is what Prof Xiang calls a "re-scripting of the Chinese dream". The pandemic has been one of the catalysts of Gen Z's new Chinese dream, he says.

"Young people felt a sense of vulnerability... [that] their life could be changed, crashed by powerful forces. It makes them rethink the entire paradigm of how Chinese society is organised and how Chinese collective life is organised."

Even during China's strict pandemic lockdowns, young people were encouraged to go to college. And they've gone in large numbers - with a record 11.6 million students graduating in 2023 alone.

Their frustration has inspired viral memes, cynical humour and even unconventional choices. Some posted alternative graduation pictures of themselves throwing their dissertations in the bin. The nickname "lying flat" was coined for those opting out of the rat race and finding ways to exist away from the competition of modern life.

Many have stopped searching for work altogether, instead heading home to be a "full-time child". Some document their life on social media as they earn small sums of money doing chores for their parents or looking after younger people in the family.

The BBC spoke to one young woman who did not want to be identified who had returned home to live with her parents in rural China. She said she had time to read books, talk to her family and she was cherishing a different life to a city career. She added that she knew it was not forever - but said she was content for now.

Examinees do last-minute revision before walking into an exam venue for the 2024 China's national civil servant exam on November 26, 2023 in Beijing,

"This is not only about a shortage of jobs or opportunities or income, rather there is a collapse of the dream which has pushed them to work so hard," Prof Xiang says. "That not only brings disappointment, but it also breeds disillusionment."

Beijing may be worried that this crisis could fester, that social discontent will rise and a disillusioned youth will pose a threat to the Communist Party's rule.

It has happened before. In 2022, protests against the government's stringent "zero-Covid" policies sprung up across the country - the most direct challenge to the Party in decades. And in 1989, frustration over unemployment and inflation provided the initial spark for what turned into historic and massive protests in Tiananmen Square.

So far, there is no sign of that.

"The very important reason for this is the transfer of intergenerational wealth," Prof Xiang says. "The family-based social support system is still there. Their parents benefited from China's reforms and have sufficient savings and real estate assets. But now the value of that is going down."

But Beijing is not taking chances. President Xi Jinping has urged young people to "eat bitterness", a Chinese term for enduring hardship.

The Party has urged graduates to stop thinking they are above manual jobs, asking them to "roll up their sleeves" and take up blue-collar work.

Hope v despair

That's a temporary solution for 23-year-old sales and marketing graduate Zheng Guling.

She sniggers at her boyfriend who teases her as she lines up her shot at a snooker hall in Qinhuangdao, just a few hours' drive from Beijing. They met at university. They are both anxious about finding work. Guling is thinking of taking a role dealing with customers at a credit card firm.

"When I went to the job fairs, I found that most companies are only recruiting sales people. There are very few companies and very few suitable positions," she says.

Guling is one of six children from a small town in southern China. She was mostly taught online for four years. She has never been in a classroom with her classmates. She worries that this has deprived her of much-needed skills.

Both Guling and Joy are "rolling up their sleeves" and finding their own way. Of course this is not the case for all, Prof Xiang says. Plenty of young Chinese do feel a deep sense of failure at not being able to get a job.

But he believes that their despair too will spur a shift. He says this is a "very powerful generation" with the potential to change China.

"The Chinese narrative needs to be rewritten. It can no longer be about prosperity, growth and national strength," he says. "Young people are the driving force for such a re-scripting of the Chinese dream."

In his New Year's Eve address, Mr Xi said that China had withstood the "test of winds and rains" and declared his "full confidence in the future".

But the big question is whether his nationalist Chinese Dream matches that of a disenchanted, restless generation that is not sure of what to expect from their future.

Huddled in a teashop overlooking the frozen sea, Guling's face lights up as she describes her ultimate dream: She wants to be her own boss.

She hopes to earn enough money to open a breakfast shop in her hometown selling Cantonese rice noodle rolls. "This will offer me more freedom," she says. "Then I can do what I like instead of just carrying on working for other people."

As she munches on the tea-shop snacks of mooncakes, chestnuts and dried mango, she explains that she wants more than a provincial life.

"My parents have never left their home province. They run in very small circles. They just want a stable life. But we want to see more things. See the outside world, and think about what we really dream of."-BBC

Ryanair hits out at Booking.com over flight cuts

Ryanair has hit out at several online travel agents for taking its flights off their platforms without warning.

The airline said larger sites such as Booking.com, Kiwi and Kayak suddenly removed its flights in December.

It comes after an Irish High Court ruling banned screenscraper Flightbox from gathering Ryanair flight information for online travel agents.

Ryanair said the websites' removal of flights would increase empty seats by 1% or 2% in December and January.

It said that while ticket revenues may also be affected, the move was unlikely to "materially affect" its full-year passenger numbers or profit expectations.

The no-frills airline said it would respond by lowering fares for passengers booking directly through its own website.

'Pirates'

In a statement, Ryanair described the online agents as "pirates". It said it would "continue to make its fares available to honest/transparent online travel agents such as Google Flights," which it said "do not add hidden mark ups to Ryanair prices and who direct passengers to make their bookings directly on the Ryanair.com website".

Ryanair said the "welcome removal" of its flights might have been a result of pressure from national consumer protection agencies or new customer verification measures it has taken.

The company has been in a long-running dispute with online booking sites, after the airline launched legal action in the US against Booking.com owner Booking Holdings and its subsidiaries including Kayak, Agoda and Priceline.

Ryanair also said its flights could have been taken off the sites in response to a recent Irish High Court ruling against screenscraper Flightbox.

The ruling granted the airline a permanent injunction, stopping Flightbox from "unlawfully scraping Ryanair.com content" for online travel agents - the process of collecting information and data from websites.

Booking Holdings, which operates Booking.com and Kayak and Kiwi.com said it would not comment on the ongoing legal proceedings between Booking.com and Ryanair in the United States.

The row follows a boom in profits for the airline in November, after it hiked up prices.

The airline said passenger numbers rose 11% to a record 105.4 million in the six months to September, despite average fares rising by 24%.

That helped the carrier to report a near-60% rise in profits for the period to €2.18bn (£1.9bn). Ryanair has reported a jump in profits after pushing up fares in the face of strong demand for summer air travel.

Speaking on Wednesday, the company said the average number of empty seats per flight in December had increased from 8% to 9%.

Ryanair said it flew 12.5 million passengers in December, up 9% from the same period in 2022, despite more than 900 flights being cancelled due to the war in Gaza.-BBC

-bbc

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INVESTORS DIARY 2024

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