Major International Business Headlines Brief::: 02 July 2024

Tue Jul 2 08:25:25 CAT 2024

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Major International Business Headlines Brief:::  02 July 2024 

ü  Kenya Will Need to Borrow More After Axing Tax Hikes - Ruto

ü  South Africa: Students Drown in Debt Despite Full Bursaries

ü  Rwanda: How Rwanda Plans to Raise Rwf3tn Taxes in 2024/25

ü  Africa: Nairobi Among Major Cities Routes in Africa Not Served By Airbus

ü  South Africa: Ramaphosa Embraces Continuity in Economic Cluster of New Cabinet

ü  Nigeria: No Explosion in Zungeru Power Plant - Adelabu

ü  Nigeria No Longer Interested in Airline Partnership - Ethiopian Airlines

ü  Kenya: Govt Urged to Engage International Mediator in Impasse With Gen Z Over Finance Bill

ü  Kenya, EU Pact On Duty-Free Access for Exports Takes Effect

ü  Ghana: Cedi Appreciates Marginally On the Back of IMF Board Approval

ü  Nigeria: Electricity Disconnection...Ministers, Top Officials Abandon Offices, Work From Home

ü  North Africa: Royal Air Maroc Named Top Regional Carrier - Qatar Best Globally

ü  Murdoch's Fox to launch free Netflix rival in UK

ü  The fastest data in the world

ü  'Only latte liberals care about green energy round here'

 <mailto:zitfmktg at zitf.co.zw> Kenya Will Need to Borrow More After Axing Tax Hikes - Ruto

Kenyan President William Ruto said Nairobi will have to borrow billions to tackle Kenya's sovereign debt. He said he was not at fault for the deaths of protesters opposing the now-revoked plans to raise taxes.

Kenyan President William Ruto said that the government will have to borrow more money to plug Kenya's deficit.

It comes after Ruto walked back on a controversial tax hike that sparked widespread protests in which at least 30 people were killed, according to rights groups.

What did Kenyan officials say about the budget?

Ruto said that the government would need to borrow an extra 346 billion shillings (roughly €2.5 billion, $2.7 billion) to fill the deficit.

"The funding gap we have done with the finance bill going down is that instead of borrowing 600 billion, we are going to borrow 600 billion plus 346 billion," he said during an interview for television channels on Sunday.

Ruto defended the finance bill, saying that his government had failed to properly present it to Kenyans.

"If I am given a chance to explain to the people of Kenya what the finance bill was all about and what it would have done for them, then every Kenyan would agree with me," he said.

While announcing the withdrawal of the controversial finance bill on Wednesday, Ruto said that Nairobi would work towards a "leaner" government and introduce austerity measures instead of raising taxes.

On Monday, Kenyan Finance Minister Njuguna Ndung'u reaffirmed the government's commitment to introducing budget cuts in order to reduce Kenya's sovereign debt.

He said that there were legal limits on borrowing and that expenditure cuts were still necessary.

Kenya's sovereign debt amounts to around 70% of gross domestic product.

Ruto's government is under pressure from the International Monetary Fund (IMF), which has urged Nairobi to implement reforms in order to access funding.

'I have no blood on my hands' -- Ruto

During his televised comments on Sunday, Ruto argued that he was not culpable for the deaths of protesters during demonstrations against his government's finance bill and stressed that there would be an investigation.

Ruto put the death toll from protests at 19.

"I have no blood on my hands," Ruto said.

"It is very unfortunate," he said, referring to the fatalities. "As a democracy that should not be part of our conversation."

"There will be an investigation on how these 19 Kenyans died," he said. "There will be an explanation for each and every one of them."

"The police have done the best they could," said Ruto. "If there have been any excesses, we have mechanisms to make sure that those excesses are dealt with."

He also warned that protesters who stormed the parliament would be prosecuted.

"Criminals infiltrated and caused mayhem," he said. "Those who attacked Parliament and the judiciary are on CCTV."

"Many of them are on the run but we will catch them," he said.

sdi/msh (Reuters, AFP)

South Africa: Students Drown in Debt Despite Full Bursaries

University students nationwide are racking up debt for their studies despite receiving 100% bursaries from the National Student Financial Aid Scheme (NSFAS), reports News24. As universities increase fees and interest accrues on their bills, some students are dropping out and others are squatting in friends' residence rooms. NSFAS spokesperson Ishmael Mnisi said, "Students should contact us to report any backlogs in payments at their institutions or TVET colleges, allowing us to address these issues promptly."

Big Boost for Eskom's Fight Against Load Shedding

Power utility Eskom has added 800MW of power to the national grid with the addition of a new generating unit at Kusile power station, reports TimesLIVE. The addition of the new unit, first synchronized to the grid in December last year but now officially online, will increase Kusile's output to 4,000MW. Eskom CEO Dan Marokane said the 800MW addition was part of a 2,500MW addition to be added to the grid before the end of the year. Eskom system operator GM Isabel Fick said "Kusile unit 5 makes a valuable contribution to the national grid. Not only is it one of the largest baseload units contributing megawatts, but it also enhances the stability of the network."

MyCiTi Fares Up 5% as Costs Rise, Commuters Outraged

MyCiTi bus fares will increase as of 1 July 2024, with a trip now costing commuters 5% more, reports News24. MyCiTi adjusts its fares annually, following the conclusion of the City of Cape Town's annual budget process, which considers the latest cost projections for providing services over the upcoming year. Struggling Cape commuters are outraged, reports News24. Commuters voiced concerns over rising MyCiTi fares amid high inflation. The City of Cape Town said the primary factor for this year's increase is the rise in vehicle operating company costs, including diesel, the consumer price index, and the producer price index.

More South African news

Rwanda: How Rwanda Plans to Raise Rwf3tn Taxes in 2024/25

The government, on June 29, promulgated a 2024/2025 state finance law under which Rwanda plans to spend a national budget of more than Rwf5.69 trillion for the fiscal year that commenced on July 1.

According to the Ministry of Finance and Economic Planning, the budget is intended to sustain economic growth, bolster climate change mitigation efforts, and fund crucial investments in agriculture, private sector development, youth employment, energy, ICT, transport, and financial development.

It will also speed up the implementation of key projects in priority sectors such as health, education, disaster management, social protection, governance, justice, and reconciliation.

One of the key sources of funds to finance the budget is tax revenues which are projected to amount to more than Rwf2.97 trillion (or 52 per cent of the total budget for 2024/2025), according to the finance law.

This is more than Rwf333 billion or 12 per cent higher than the tax revenue target for 2023/2024 was Rwf2.63 trillion for the 2023/2024 fiscal year that ended on June 30.

Such revenues will come from four areas, it indicated. They include taxes on income, profits or capital gains which are expected to generate more than Rwf1.4 trillion, which is the largest contribution, followed by taxes on goods and services with Rwf1.3 trillion.

Taxes on international trade and transactions will generate more than Rwf209 billion, while tax on property will bring in more than Rwf7 billion, it added.

ALSO READ: RRA eases conditions for taxpayers to settle tax arrears in instalments

Under Rwanda Revenue Authority (RRA) action plan for 2024/25, the tax administration body seeks, among others, to maximise revenue collection.

This, it indicated, will be achieved through initiatives including widen tax base by activities such as enhancing taxpayer registration mechanisms; strengthening mechanisms to maintain adequate and accurate taxpayer registry; and reviewing tax laws for adequacy/relevancy.

Another initiative is sustaining tax compliance through strengthening mechanisms to boost taxpayer compliance, enhancing automation of filing processes, and enforcing the usage of electronic payment mechanisms on all large and medium taxpayers.

ALSO READ: A closer look at 2023's tax changes: Five laws tailored to citizens' needs

Total domestic resources

Overall, domestic resources (including the more than Rwf2.97 trillion in taxes) are expected to amount to more than Rwf3.64 trillion (representing about 64 per cent of the total budget) - with other revenues apart from taxes expected to contribute more than Rwf444 billion.

They include income from sale of goods and services with more than Rwf382 billion, property income with more than Rwf24.5 billion, and fines, penalties and forfeit that are anticipated to generate over Rwf36.6 billion, as well as domestic loans which are likely to be Rwf232 billion.

External resources are expected to contribute slightly more than Rwf2 trillion, which include grants amounting to more than Rwf725 billion, and foreign loans Rwf1.3 trillion.

- New Times.

Africa: Nairobi Among Major Cities Routes in Africa Not Served By Airbus

Nairobi — Nairobi has been listed among the major city routes in Africa not served by Airbus, a global aerospace and aviation corporation.

In its latest report, which identified key unserved routes that would boost air travel on the continent, Airbus also enlisted Lagos, Cape Town, Dakar, and Douala, stating that the routes could provide greater connectivity for travelers and drive economic growth in local economies, including boosting revenue for airlines.

Geert Lemaire, Market Intelligence and Consulting Director, Airbus, revealed that despite significant traffic between certain city pairs, some identified routes still lack regularly scheduled non-stop flights.

"Factors such as restrictive bilateral air service agreements, economic variables, and challenges with capacity, frequency and operating cost efficiency contribute to these routes remaining unserved," said Lemaire, Market Intelligence and Consulting Director, Airbus.

He stated, however, that the company remains committed to partnering with airlines across Africa to identify optimized fleet solutions in line with network development requirements that further stimulate the continent's air transport industry growth and improve connectivity for travelers.

"With our capacity to make analyses about route and network development potential in-house, Airbus remains committed to partnering with airlines across Africa to identify optimised fleet solutions," added Lemaire Market Intelligence and Consulting Director, Airbus.

The company also highlighted data on Africa in its latest Global Market Forecast (GMF), focusing on strategic recommendations to capitalize on the opportunities of a more connected continent.

The forecast data predicts a 4.1 percent growth overall in air traffic over the next 20 years, resulting in an anticipated need for 1,180 new aircraft by 2043.

Additionally, the continued growth of the aviation sector in Africa is expected to result in 3.3 percent GDP growth on the continent, above the 2.6 percent global average.

This growth is ratified by data from Airbus' Global Services Forecast, which estimates that Africa will need to introduce 15 000 more pilots, 20 000 technicians, and 24 000 cabin crew to meet the surge in air travel demand.

-Capital FM.

South Africa: Ramaphosa Embraces Continuity in Economic Cluster of New Cabinet

Enoch Godongwana and David Masondo return to the finance ministry. Financial markets and investors will probably sigh in relief as it means continuity in fiscal prudence and economic structural reforms.

Listen to this article 7 min Listen to this article 7 min In the economic cluster of the Cabinet, President Cyril Ramaphosa took the approach of continuity in appointing ministers, with some old names making a comeback in the seventh administration.

Arguably, financial markets and investors are likely to be happy about the reappointment of Enoch Godongwana as finance minister and David Masondo as his deputy.

Under the previous administration, the pair had begun work to stabilise public finances by cutting government spending, stabilising smothering debt that stands at R5.5-trillion and weaning state-owned enterprises such as Eskom and Transnet off more taxpayer-funded bailouts.

Godongwana and Masondo have also pressed ahead with structural economic reforms aimed at changing the fabric of the economy by implementing a few pro-growth and investment reforms. These reforms also promote the private sector's participation in key sectors of the economy such as energy and logistics.

In a recent interview with Daily Maverick, Masondo said he was optimistic about policy continuation under a government of national unity (GNU). He didn't expect there would be a gridlock in policy implementation, constant infighting, reversal of recently achieved milestones in energy and logistics sectors, and regression in service delivery.

After...- Daily Maverick.

Nigeria: No Explosion in Zungeru Power Plant - Adelabu

Minister of Power, Adebayo Adelabu has said that no explosion occurred at Zungeru power plant on Monday.

A statement by Mr Bolaji Tunji, Special Adviser, Strategic Communications and Media Relations, on Monday in Abuja said that the minister was reacting to some social media reports that an explosion occurred at Zungeru power plant.

Tunji quoted the minister as saying that the report of an explosion was a figment of the imagination of the purveyors of such information.

According to the Minister, the Zungeru power plant is on the grid and the plant is running at optimum capacity.

"I have spoken with the Managing Director of Mainstream Energy and I can assure you that nothing of such took place in Zungeru.

"The plant is working and it continues to supply to the grid. We have video evidence from Zungeru that nothing like that occurred today and whoever is interested should go there to find out.

"It is rather unfortunate that people will sit down somewhere and cook up this sort of story. It is unpatriotic; such people should desist from creating unnecessary panic."

The minister assured Nigerians of adequate supply of energy.

"We have seen the worst in the sector, we can only get better.

"We promised incremental supply of power and that is what is happening now and that's why we have the present improvement and it will continue," the Minister assured.

Vanguard News

- Vanguard.

Nigeria No Longer Interested in Airline Partnership - Ethiopian Airlines

Ethiopian Airlines has announced that the Nigerian government is no longer interested in partnership aimed at establishing the proposed Nigeria Air project.

The Airlines' Group Chief Executive Officer, Mesfin Tasew, made the announcement in Dubai, the United Arab Emirates, according to Ethiopian Tribune.

"The Nigerian government has lost interest in partnering with a foreign airline," Tasew was quoted as saying.

This announcement comes barely two months after the Federal Government indefinitely suspended the Nigeria Air project.

Recall that the Minister of Aviation and Aerospace Development, Festus Keyamo, had on May 27, announced the indefinite suspension of the Nigeria Air project during the ministerial briefing marking the first year of President Bola Tinubu's administration.

Keyamo criticized the deal with Ethiopian Airlines, saying that the ownership structure of the suspended airline is not beneficial to the country.

The minister added that it would be irresponsible for the Federal Government to allow a foreign entity to monopolize Nigeria's aviation industry, thereby compromising the growth of local businesses.

In 2023, the Ministry of Aviation, under former Minister Hadi Sirika, unveiled Nigeria Air three days before the end of former President Muhammadu Buhari's administration.

The Nigeria Air project elicited concerns among stakeholders nationwide over the ownership arrangement which gave Ethiopian Airlines a 49 per cent equity stake.

The Federal Government had a 5 per cent equity, while a consortium of three Nigerian investors had 46 per cent.

Reacting to the deal in June 2023, the House of Representatives asked the Federal Government to suspend the operations of Nigeria Air over allegations of fraud.

-Vanguard.

Kenya: Govt Urged to Engage International Mediator in Impasse With Gen Z Over Finance Bill

Siaya — Religious leaders in Siaya want the government to engage an international mediator in solving the current impasse that saw young Kenyans take to the streets to protest the passage of the finance bill.

Through the Siaya Church Leaders' Forum (SCLF), the clerics say that the situation may get out of hand if urgent steps will not be taken to address it, adding that government will only succeed if an independent international mediator is brought on board to engage the youths.

Led by the chairman of the church leaders' forum, Archbishop James Opiyo Anyango, the clerics lauded the efforts that the government was putting in place to ensure that the youths are engaged and their demands taken into account.

The forum organizing secretary, Bishop Wilfred Amollo said Kenyan youths seem to have lost hope and trust in the current government and may not feel comfortable engaging President William Ruto.

The church leaders lauded the Kenyan youths for standing firm in exercising their rights, but called on them to embrace peace and avoid destruction of properties during their anti-government protests.

Other leaders who addressed the media during the occasion were Bishop Elias Sewe and Bishop Martin Arara who called on the government to minimize wastage of public resources to quell the Gen Z protests.-Capital FM.

Kenya, EU Pact On Duty-Free Access for Exports Takes Effect

Nairobi — The Economic Partnership Agreement between Kenya and the European Union (EPA) has officially effected following ratification of the strategic partnership aimed at boosting boost bilateral trade in goods and investment flows for sustainable economic growth.

According to Trade Cabinet Secretary Rebecca Miano, all Kenya's exports will now enjoy duty-free and quota-free access to the USD18 trillion European Union market noting that the agreement will strengthen the ties between reliable partners and facilitate mutually lucrative economic relations including job creation and economic growth.

The Agreement which aims at implementing the provisions of the EU East African Community (EAC) EPA includes trade, economic and development cooperation and a chapter on trade and sustainable development focusing on labour issues and areas of gender equality, forestry, environment and the fight against climate change.

"Today, the Economic Partnership Agreement between Kenya and the European Union (EPA) has entered into force, marking a major milestone in the EU-Kenya Strategic Partnership. The Agreement now opens duty-free and quota-free access for all Kenya's exports to the EU market," she said.

CS Miano added that the partnership agreement will unlock new economic opportunities, as the EU takes large shares of being Kenya's topmost export destination and second largest trading partner.

Further the EPA will create more opportunities for Kenyan businesses and exporters including high value manufactured products, fully opening the EU market for Kenyan products and incentivize EU investment into the country due to increased legal certainty and stability

"The EPA and its ambitious commitments represent a crucial deliverable of Kenya's 2016 Trade Policy. It will help integrate Kenyan value chains with global ones and enhance Kenya's economic development objectives," stated Miano.

Total trade between the EU and Kenya reached over 3.5 billion Euros in 2023, an increase of 16 percent compared to 2018 according to the Ministry.

Following discussions headed by the ministry, Kenya and the EU signed the Economic Partnership Agreement (EPA) in December 2023. This agreement will serve as a model for other nations in the region with the goal of enhancing and promoting economic sustainability.

The Government's Bottom-up Economic Transformation Agenda (BETA) includes a value-chains approach that will help integrate Kenyan value chains globally and advance Kenya's economic development goals.

-Capital FM.

Ghana: Cedi Appreciates Marginally On the Back of IMF Board Approval

Cedi makes some gains on the first day of trading after Ghana secured an IMF Board approval for disbursement of the third tranche

The Ghana cedi appreciated on Monday morning, marking the first trading day following the International Monetary Fund (IMF) Board's approval of Ghana's second review and the immediate release of the third tranche of $360 million.

As of 11 am, the inflow had not yet reached the Bank of Ghana's account, but currency dealers on the interbank market have tempered their demand for the dollar, anticipating a potential rate drop in the coming days.

At the market opening on Monday, the dollar traded lower at GH¢15.30 and GH¢15.45, compared to GH¢15.40 and GH¢15.55 on Friday, June 28.

Kodzo Dziwornu Letsa, a Currency and fixed-income trader, explained that the fall in the sale of dollars dipped due to inadequate firm bids in anticipation of IMF's approval.

"The selling price of the dollar decreased mainly due to a lack of firm bids, as many bank dealers anticipate a marginal drop today following news of Ghana's IMF approval for the $360 million disbursement, which is expected to support foreign exchange reserves," he said.

However, analysts caution that Cedi's gains may be temporary, given that the inflow is not substantial enough to completely counterbalance the ongoing high demand for the US dollar.

A statement released after the Executive Board meeting last Friday highlighted Ghana's economic reforms, supported by the IMF, which have yielded positive results. These reforms have contributed to economic stability, reduced inflation, and improved government finances following significant challenges in 2022.

The IMF statement also advised the Central Bank to maintain flexibility with the local currency.

"Going forward, maintaining an appropriately tight monetary stance, and enhancing exchange rate flexibility are of the essence, along with timely implementation of Fund's advice on safeguards", the statement emphasised.

Market observers interpret this guidance as indicating that the IMF is cautious about a rapid reversal of cedi depreciation, reflecting a belief among experts that the cedi's true value may exceed GH¢16 to the dollar.

-Accra Times.

Nigeria: Electricity Disconnection...Ministers, Top Officials Abandon Offices, Work From Home

For the second week, most ministries, departments and agencies (MDAs) of government located in the Federal Secretariat, Abuja, have been without electricity supply from the Abuja Electricity Distribution Company (AEDC).

A LEADERSHIP investigation showed that most of the MDAs are heavily indebted to the AEDC, which forced the power firm to disconnect them after several reminders, including publishing such debtors on some national dailies.

Last Thursday, LEADERSHIP exclusively published that the power outage had hit the secretariat for one week.

When our correspondents visited the secretariat yesterday, the situation had not changed as the affected MDAs were still in darkness.

It was learnt that the situation forced some ministers and other top officials to work from home.

Some workers who spoke with our correspondents yesterday lamented that the outage had been allowed to enter the second week, making them completely unproductive in their offices.

A senior director in the Office of the Head of the Civil Service of the Federation who preferred anonymity said that the office was not experiencing the outage because of the solar system installed by the Head of Service.

He said that most major offices attached to the Office of the Head of Civil Service were connected to solar power to avoid redundancy in the office.

"The only areas in Block A and C that have electricity supply from the solar system is the office of the Head of Civil Service of the Federation, but others that are not attached to it are in complete darkness, except you can afford to buy fuel or diesel for your generator," he said.

However, some senior civil servants who have offices on the second and third floors of Block A and C, which host the Office of the Head of Civil Service, said that they could no longer stay inside their offices to work because of the prolonged power failure.

"I wonder why this power failure issue is taking a long time to resolve. The Federal Secretariat is the engineroom of the nation's socio economic development, and I wonder why the authorities have failed to do something about it.

"We thought that, by now, this whole thing would be over, but from the look of things, we do not know when the power outage problem would be resolved," one of the senior civil servants said.

Senior officials in the Phase 1 section of the Federal Secretariat confirmed that they had been without electricity for a week, a situation attributed to unpaid bills owed to the AEDC.

A source within the secretariat, who spoke on the condition of anonymity, confirmed that the blackout commenced last week.

According to the source, the outstanding electricity bills have accrued over an extended period, leading to the power firm's decision to cut off the power supply.

"The accumulated bill is significant, and AEDC had no choice but to cut the light," the source explained.

The source further disclosed that while Phase 2 and Phase 3 of the Secretariat were also initially affected by the power outage, Phase 3 resolved its outstanding debts and had electricity restored. As of now, only Phase 1 remains in darkness.

The ministries affected include the Federal Ministry of Niger Delta Affairs, the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development, the Federal Ministry of Labour and Productivity, and the Federal Ministry of Communications,

This prolonged blackout has disrupted daily operations within Phase 1 of the Federal Secretariat, causing inconvenience to employees and visitors alike. Pending the settlement of the outstanding bills, it remains unclear when the power will be restored.

The disconnection that cuts across the central business district does not affect the activities of the Federal Ministry of Finance, which still has a regular power supply.

A senior official in the ministry, who refused to be named, told our reporter yesterday that the workers are used to running on standby power generating sets to power their entire ministry, which also houses the Budget Office of the Federation.

While he refused to confirm if the ministry was disconnected by the AEDC, he said, "As you can see, we are on gen (generator). Whenever light comes, we are fine, too."

He, however, failed to tell us how much the ministry had spent on fueling the power-generating sets.

When our reporter visited the ministry yesterday, the generators were heard humming from the car park wing.

The Ministry of Finance is one of the MDAs that AEDC served a disconnection notice earlier this year for failing to pay an outstanding electricity bill of N367.67 million. This newspaper could not confirm whether that backlog has been cleared.

At the Federal Ministry of Labour and Employment, an official (name withheld) said inquiries regarding the power situation at the secretariat should be directed to the Head of Service of the Federation.

According to her, the ministry is not responsible for managing the power outage resolution.

She said, "I am just a civil servant. I don't have anything to say about it. My job is to go to work and close at the right time. Please direct your questions to the head of service."

Over 34 ministries, departments, and agencies, including the Nigerian Army headquartered in Abuja, were encouraged to circumvent budgetary allocations. Consequently, substantial unpaid electricity bills, totalling over N10.01 billion, have accumulated despite specific provisions in the annual national budgetary allocation.

Education, Health Ministries Enjoy Power Supply

The Federal Ministry of Education has restored electricity within its offices while neighbouring ministries remained engulfed in darkness.

According to sources in the ministry, the outage affected the Ministry last week due to unpaid NEPA bills, leaving several departments grappling with disrupted operations.

When our reporter visited the Ministry yesterday, sources within it revealed that the management worked and restored the light after the bill was cleared.

"It was critical for us to maintain our services, but thank God the light was restored, as you can see it now," he said.

The Federal Ministry of Health and Social Welfare was also not affected by the power outage and breakdown of solar power in the Federal Secretariat as there was electricity in the office when our correspondent visited the ministry on Monday afternoon.

Sources in the ministry told our correspondent they were shocked to hear that the entire Federal Secretariat had not had power for two weeks.

A deputy director in the ministry who pleaded anonymity told our correspondent that there is power supply in the ministry, adding that whenever power from the national grid is not available, the ministry uses inverters or generators.

According to her, the inverter covers the 1st, 2nd, 3rd, and 6th floors, which are where the minister's offices and the conference hall are located.

"Whenever there is no power supply during work hours, those in other offices go to these floors using inverters if they need to use light", she added.

Another ministry staff member who pleaded for anonymity told our correspondent that the ministry has had power supply in the past two weeks.

"If there is no power supply and the inverter is down, how come the elevators work?" she asked.

When LEADERSHIP contacted AEDC head of Marketing and Corporate Communications, Adefisayo Akinsanya, there was no response despite repeated phone calls, SMS and WhatsApp messages.-Leadership.

North Africa: Royal Air Maroc Named Top Regional Carrier - Qatar Best Globally

Royal Air Maroc has been named the best regional carrier in Africa in this year's Skytrax ranking, while Ethiopia Airlines was voted the best continental company.

Uganda Airlines, RwandAir, and Air Tanzania were notably absent from the list released last week. Kenya Airways (KQ) received the "Best Airline Staff Service in Africa" award.

"This achievement is a testament to the unwavering dedication and exceptional service demonstrated by our team members each day," said the airline's chief executive officer, Allan Kilavuka.

The 2024 list was dominated by airlines from the Middle East, which claimed three slots in the top 20 spots. Qatar Airways was named the World's Best Airline, recognised for its high-quality service.

The Doha-based carrier has built a strong reputation over the past decade, boosting Hamad International Airport as a major global transit route.

"This is a remarkable achievement for Qatar Airways to win this World's Best Airline title for 2024, the eighth time they have triumphed," said Skytrax CEO Edward Plaisted."We congratulate Qatar Airways on this success, which should be a source of great pride and satisfaction for the airline management and staff."

The 25th annual World Airline Awards ceremony was held in London, bringing together industry players from around the globe. The awards are prestigious for carriers and are renowned as the "Oscars of the aviation industry."

Votes were collected from surveys of more than 21 million customers from 100 countries and about 350 airlines, according to Skytrax.

Singapore Airlines ranked second, Dubai's Emirates third, Japan's ANA All Nippon Airways fourth, Hong Kong's Cathay Pacific fifth, Japan Airlines sixth, Turkish Airlines seventh, Taiwan's EVA Air eighth, Air France ninth, and Swiss International Airlines tenth.

-Business Day Africa.

Murdoch's Fox to launch free Netflix rival in UK

Rupert Murdoch's Fox Corporation is entering the UK's highly competitive free, ad-supported video streaming market.

Tubi will compete with the likes of Netflix, Disney+, ITVX, Channel 4's streaming platform as well as the BBC iPlayer.

The platform has been quickly gaining market share in the US where, according to Fox, it has almost 80 million monthly active users.

In the UK, Tubi says it will offer more than 20,000 films and TV series, including content from Disney, Lionsgate, NBCUniversal and Sony Pictures Entertainment.

The platform will also include a selection of British, Indian and Nigerian content.

UK viewers will be able to access content on the Tubi webpage and via a smartphone app.

“Tubi has spent the last decade honing our approach to vast, free and fun streaming in North America, and we feel that now is the perfect time to bring that recipe to UK audiences,” Tubi chief executive Anjali Sud said.

Fox Corporation bought Tubi in 2020 for $440m (£348m) as the US media giant looked to attract younger audiences.

In recent years, streaming companies like Netflix, Amazon Prime Video and Disney+ have launched ad-supported services and raised subscription prices as they tried to boost revenues.

The moves came as they faced pressure to spend more money to grow their libraries of content as they try to attract more customers in an increasingly competitive market.

In March, Mr Murdoch's TalkTV network announced that it would stop broadcasting as a terrestrial television channel and became a strictly online service.

The network launched in 2022 but struggled to attract viewers on its linear platform.

Mr Murdoch had hoped the network would shake up the broadcasting establishment by offering an opinion-led alternative to established outlets.

The media tycoon played a pivotal role in the development of the UK's broadcasting industry by launching Sky in 1984.

Some commentators saw TalkTV as an attempt by Mr Murdoch to recreate his success with Sky.

Mr Murdoch's 21st Century Fox sold its 39% stake in Sky to NBCUniversal's owner Comcast in 2018 after losing a bidding battle for the network.-BBC

The fastest data in the world

As IT updates go, this was about as nerve-wracking as things can get.

In February, deep inside a warehouse at Cern, the Swiss home of the Large Hadron Collider (LHC) – the world’s biggest science experiment – two network engineers held their breath. And pressed a button.

Suddenly, text on a black background flashed up on a screen in front of them. It had worked. “There was high-fiving involved,” recalls Joachim Opdenakker at SURF, a Dutch IT association that works for educational and research institutions. “It was super-cool to see.”

He and his colleague Edwin Verheul had just set up a new data link between the LHC in Switzerland and data storage sites in The Netherlands.

A data link that could reach speeds of 800 gigabits per second (Gbps) – or more than 11,000 times the average UK home broadband speed. The idea is to improve scientists’ access to the results of LHC experiments.

A subsequent test in March using special equipment on loan from Nokia proved the desired speeds were achievable.

“This transponder that Nokia uses, it’s like a celebrity,” says Mr Verheul, explaining how the kit is booked up for use at various locations in advance. “We had limited time to do tests. If you have to postpone a week, then the transponder is gone.”

This amount of bandwidth, approaching one terabit per second, is extremely fast but some subsea cables are a few hundred times faster still – they use multiple fibre strands to achieve such speeds.

Nokia & Surf Vistors look at equipment at CernNokia & Surf

After its upgrade the Large Hadron Collider will produce five times as much data

In labs around the world, networking experts are coming up with fibre optic systems capable of pushing data around even more rapidly than this. They are reaching extraordinary speeds of many petabits per second (Pbps), or 300 million times the average UK home broadband connection.

This is so fast that one can barely imagine how people will use such bandwidth in the future. But engineers are wasting no time in proving that it is possible. And they only want to go faster.

The duplex cable (with cores that either send or receive) from Cern to data centres in The Netherlands is just shy of 1,650km (I,025 miles) long, snaking from Geneva to Paris, then Brussels, and finally Amsterdam. Part of the challenge in reaching 800 Gbps was in beaming pulses of light such a long way. “Due to the distance, the power levels of that light decrease, so you have to amplify it at different locations,” explains Mr Opdenakker.

Every time one tiny subatomic particle smashes into another during experiments at the LHC, the impact generates staggering volumes of data – about one petabyte per second. That’s enough to fill 220,000 DVDs.

This is slimmed down for storage and study, but still requires hefty amounts of bandwidth. Plus, with an upgrade due by 2029, the LHC expects to produce even more scientific data than it does today.

“The upgrade increases the number of collisions by at least a factor of five,” says James Watt, senior vice president and general manager of optical networks at Nokia.

A time when 800 Gbps seems slow may not be far away, however. In November, a team of researchers in Japan broke the world speed record for data transmission when they reached an astonishing 22.9 Pbps. That’s enough bandwidth to supply every single person on the planet, and then a couple billion more, with a Netflix stream, says Chigo Okonkwo at Eindhoven University of Technology, who was involved in the work.

In this case, a meaningless but huge stream of pseudorandom data was beamed over 13km of coiled fibre optic cable in a lab setting. Dr Okonkwo explains that the integrity of the data is analysed post-transfer to confirm it was sent as quickly as reported without accumulating too many errors.

He also adds that the system he and colleagues used relied on multiple cores – a total of 19 cores inside one fibre cable. This is a new type of cable unlike the standard ones that connect many people’s home to the internet.

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But older fibre is expensive to dig up and replace. Extending its lifetime is useful, argues Wladek Forysiak at Aston University in the UK. He and colleagues have recently achieved speeds of around 402 terabits per second (Tbps) along a 50km-long optical fibre with just one core. That’s about 5.7 million times faster than the average UK home broadband connection.

“I think it’s a world best, we don’t know of any results that are better than that,” says Prof Forysiak. Their technique relies on using more wavelengths of light than usual when flashing data down an optical line.

For this they use alternative forms of the electronic equipment that sends and receives signals over fibre optic cables but such a setup could be easier to install than replacing thousands of kilometres of the cable itself.

Activities in the so-called metaverse might one day require extreme bandwidth, suggests Martin Creaner, director general of the World Broadband Association. His organisation expects home broadband connections to reach up to 50 Gbps by 2030.

But reliability may be even more important than speed for some applications. “For remote robotic surgery across 3,000 miles… you absolutely do not want any scenario where the network goes down,” says Mr Creaner.

Dr Okonkwo adds that training AI will increasingly require moving huge datasets around. The faster this can be done, the better, he argues.

And Ian Phillips, who works alongside Prof Forysiak, says bandwidth tends to find applications once it is available: “Humanity finds a way of consuming it.”

Although multiple petabits per second is far beyond what today’s web users need, Lane Burdette, research analyst at TeleGeography, a telecoms market research firm, says it is striking how quickly demand for bandwidth is growing – currently, at around 30% year-on-year on transatlantic fibre optic cables.

Content provision – social media, cloud services, video streaming – is eating up far more bandwidth than before, she notes: “It used to be like 15% of international bandwidth in the early 2010’s. Now it’s up to three quarters, 75%. It’s absolutely massive.”

In the UK, there is still a long way to go to improve internet speeds. Many people cannot access sufficiently fast broadband at home.

Andrew Kernahan, head of public affairs at the Internet Service Providers Association says most home users can now access gigabit per second speeds.

However, only about a third of broadband customers are signing up for such technology. There’s no “killer app” at the moment that really requires it, says Mr Kernahan. This might change as more and more TV is consumed via the internet, for example.

“There’s definitely a challenge to get the message out there and make people more aware of what they can do with the infrastructure,” he says.-BBC

'Only latte liberals care about green energy round here'

The former “carpet capital of the world” is getting a multi-billion-dollar makeover.

Here in the rural Georgian town of Dalton, once known for its fabric floor coverings, a Korean company called Qcells is spending $2.5bn (£2bn) to expand its solar panel factory, with another in the works.

It's a bold initiative that will create 2,500 quality jobs in the next 12 months, in an area where the average household income is roughly 27% below the national average. It is hoped the project will revitalise a corner of the US whose glory days seemed over.

And it's due in no small part to someone many of the residents of this Republican district would rather not credit - Joe Biden.

The president's landmark 2022 Inflation Reduction Act (IRA) – his signature green legislation - offered hundreds of billions of dollars in tax incentives, credits and loans to stimulate American manufacturing in clean energy.

The most ambitious climate legislation in US history has generated a tsunami of private sector investments, with big implications for the rest of the world. And Georgia - a state President Biden hopes is in play in this year’s presidential election - has been a big beneficiary.

But with four months before the president goes head-to-head against Donald Trump, the billions of dollars of new investment in this key battleground state doesn’t appear to have lifted the incumbent’s support.

President Biden’s pitch is that solving the climate problem is also good for jobs. Since the law was passed, more than 300,000 clean energy jobs have been created in the US, according to the advocacy group Climate Power.

And there's no doubt it’s creating opportunities in places like Dalton. Here you see Bidenomics in action - foreign and government money being used to fight climate change and build an economy from the middle out.

Scott Moskowitz

Qcells' Scott Moskowitz points to the massive investments in US renewables

Scott Moskowitz, head of market strategy for Qcells, says that Georgia had been a great home since 2019, but that the IRA had been an “accelerant”. Without it, he muses, the current expansion might not have happened at all.

“What our industry has seen, since the IRA has passed, is more investment in the past two years in solar and clean energy manufacturing than the previous 20 years,” he says.

And yet that message either isn't getting through or simply isn't resonating with locals – not even local Democrats.

Jan Pourquoi, the spokesperson for the local Whitfield County Democratic Party, tells me: “In the business community, there is a resentment against that company [Qcells].”

Mr Pourquoi, a Belgian expat should know. He owns one of the small carpet firms in town. We spoke in his office, overlooking the factory floor where they turn flooring remnants into small rugs.

“The business community resents the fact that we have a company from South Korea coming in this area with government subsidies, while they themselves get nothing from the government,” says Mr Pourquoi, who identified as a Republican before switching parties following Trump’s election in 2016.

He tells me that local voters know little about the IRA law. “Nobody cares about clean energy, not around here. That is the type of stuff that I would call the ‘latte liberals’ care about in the big city.”

Qcells Qcells' factory in GeorgiaQcells

Qcells has been expanding its vast factory in Dalton

Well, at least one person does, and that's Marjorie Taylor Greene, the firebrand Republican congressional representative for the district. She has touted Qcells' expansion, despite voting against the law that helped make it possible.

It’s creating some awkward dynamics for Republicans. The IRA is in Donald Trump’s sights.

If Republican lawmakers win big in the Congressional elections that are also taking place on 5 November, then portions of President Biden’s signature climate law could be repealed, threatening a clean energy boom happening in their communities across the US.

I sat down for coffee with Kasey Carpenter, Dalton’s Republican member in the Georgia House of Representatives. We met at Oakwood Café, the bustling diner he owns along with a string of other local businesses, including a pizza joint and a boutique hotel.

Mr Carpenter downplayed the potential impact on Qcells of manufacturing tax credits being rolled back. He doesn’t think it would jeopardise the solar investments in his district.

But he adds that if clean energy investments were to become at risk “I’m sure we’ll be speaking with the Trump team”.

Our conversation ends with him saying it would be another feather in Dalton’s cap if this carpet town could also lay claim to the title of “solar panel capital of the world”.

But that belongs to China, which controls 80% of the world’s solar panel supply chain.

For years China has been investing heavily in renewable energy, and is expected to spend a staggering $675bn in 2024, according to an International Energy Agency (IEA) report.

To compete, governments around the world have begun throwing hundreds of billions at the green industries of the future.

In the EU, investment in clean energy is set to increase to $370bn in 2024, according to the IEA. The predicted figure for the US is $315bn.

US Trade Representative Katherine Tai said last year that she hoped the US’s increased spending on renewable energy would help address the “significant distortion” in the global economy caused by China.

Kasey Carpenter

Kasey Carpenter, a Republican, says he is not fearful that a possible Trump government would hit the solar sector

The aim is also to deny China any more of an opening into the US renewables market.

And these massive green investments are being channelled by the Biden White House, very purposefully, into so-called red states – those that usually vote Republican. The hope is to create a manufacturing revival before November’s presidential election.

For those who work in the Qcells' factory, the opportunity has been life-changing.

Robots patrol the shop floor where solar cells are being packaged into panels. That’s where I meet Alan Rodriguez, dressed in a black polo shirt emblazoned with the Qcells' logo.

He traded work in a Dalton carpet mill for Qcells shortly after the solar panel maker opened its first site in 2019. Mr Rodriguez started in an entry level position, before learning advanced skills, and progressing to a spot on the engineering team.

The speed of advancement was something he never dreamed of when he worked in the flooring industry.

“For me it’s been great,” Mr Rodriguez says as he walks down the production line. “The jobs are much better, the environment. It’s a clean facility.”

President Biden is counting on people like Alan Rodriguez to help swing red states his way in November.-BBC

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