IAG said passenger traffic fell by 88% in the third quarter. Photo: PA By Oscar Williams-Grut The parent company of British Airways and Iberia slumped to a €1.3bn (£1.17bn, $1.54bn) loss in the third quarter of 2020, as the COVID-19 pandemic continues to severely depress aviation. IAG (IAG.L) on Thursday said it had made an

Jobseekers queue to submit their applications. Insurance firms have reported a sharp rise in policy cancellations and withdrawals by customers squeezed by the economic fallout from Covid-19, raising fears that many insurers could soon face liquidity challenges. Top insurers confirmed a sharp rise in withdrawals and surrenders, majorly on life assurance and pension products —

Containers are seen at the Yangshan Deep Water Port in Shanghai, China, as the coronavirus disease (COVID-19) outbreak continues, October 19, 2020. © REUTERS/Aly Song BEIJING (Reuters) – China’s economic recovery accelerated in the third quarter as consumers shook off their coronavirus caution, although the weaker-than-expected headline growth suggested persistent risks for one of the

Emirati President Sheikh Khalifa bin Zayed al-Nahayan inspects members of the Welsh Guards at Windsor Castle during a state visit to the UK in April 2013 (AFP) Referred to by his lawyers as ‘the client’ to preserve his anonymity, it has been revealed that Sheikh Khalifa bin Zayed al-Nahyan owns some of the UK capital’s

Photo: Credit Anadolu Agency Israeli Prime Minister Benjamin Netanyahu. Delegation under controversial normalization deal being led by head of Israel’s National Security Council Under a controversial normalization deal, an Israeli trade delegation will travel to the Gulf state of Bahrain on Sunday, Israeli Prime Minister Benjamin Netanyahu announced. In a written statement, Netanyahu said Israel’s

Turkish president says reserves discovered in Black Sea is largest hydrocarbon resource of Turkey till today The Turkish president on Saturday announced the discovery of an additional 85 billion cubic meters of natural gas in the Black Sea, following a historic find this summer. “As a result of testing, analysis and detailed engineering work, another

In an exclusive interview with Anadolu Agency, South Sudan official says geological issues leading decline in oil production Already reeling under the impact of declining oil prices in the global market and restrictions enforced by the COVID-19 pandemic, geological issues are now hampering South Sudan to maintain optimal oil production. The world’s youngest country is

The Somali petroleum ministry has for the first time formed a seven-member executive committee representing the federal government, regional governments and the Benadir region. The committee, announced by the Somali Petroleum Authority (SPA), is tasked with boosting the oil and gas industry. They will also ensure that the financial development laws enacted, the principles of

Techno Brain offices in Hurlingham, Nairobi. The World Bank has banned Kenyan IT firm, Techno Brain (Kenya) Limited and its United Arab Emirates(UAE)-based parent company Techno Brain Global FZ-LLC for fraud in an Integrated Public Financial Management Reform Project in Liberia. The Kenyan unit will remain banned from World Bank supported projects for 28 months

The Crown Prince of Abu Dhabi, Sheikh Mohammed bin Zayed, received a phone call Monday from the Israeli prime minister, their first contact since the United Arab Emirates (UAE) and Israel announced a deal in August to normalize their relations. “During a phone call with Israeli Prime Minister Benjamin Netanyahu, we discussed strengthening bilateral ties