Corporate Affairs

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    Zimbabwe to subsidise public transport as inflation jumps

    Zimbabwe will subsidise public transport and cut fuel duties by more than half as it tries to ease the impact of rampant inflation on its poorest citizens, according to Finance Secretary George Guvamatanga. The support will cost about $8-million a month, Guvamatanga said by phone on Monday. “A quantified, budgeted and targeted subsidy is a good subsidy,” he said. The cut in duties is expected to counteract an expected rise in fuel prices, he said.

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    Zimbabwe to subsidise public transport as inflation jumps

    Zimbabwe will subsidise public transport and cut fuel duties by more than half as it tries to ease the impact of rampant inflation on its poorest citizens, according to Finance Secretary George Guvamatanga. The support will cost about $8-million a month, Guvamatanga said by phone on Monday. “A quantified, budgeted and targeted subsidy is a good subsidy,” he said. The cut in duties is expected to counteract an expected rise in fuel prices, he said.

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    Tanzania rail project to take half of Transport Ministry’s budget

    Tanzania’s transport ministry is seeking approval from lawmakers for its 2019/20 budget of 4.96-trillion shillings ($2.15-billion), which includes 2.48-trillion shillings for construction of a standard-gauge railway line. The railway line will link the East African nation’s commercial city of Dar es Salaam with the town of Mwanza along Lake Victoria, through the capital, Dodoma, Transport, Communications and Works Minister Isack Kamwelwe told lawmakers Thursday.

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    Tanzania rail project to take half of Transport Ministry’s budget

    Tanzania’s transport ministry is seeking approval from lawmakers for its 2019/20 budget of 4.96-trillion shillings ($2.15-billion), which includes 2.48-trillion shillings for construction of a standard-gauge railway line. The railway line will link the East African nation’s commercial city of Dar es Salaam with the town of Mwanza along Lake Victoria, through the capital, Dodoma, Transport, Communications and Works Minister Isack Kamwelwe told lawmakers Thursday.

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    FAA to convene summit of global regulators on 737 Max safety

    The US Federal Aviation Administration next month will brief international aviation regulators on the agency’s work evaluating when the Boeing 737 Max can return to service, which some countries have signaled they intend to decide on their own. The FAA called the May 23 meeting “to provide participants the FAA’s safety analysis that will inform its decision to return the 737 Max fleet to service in the U.S. when it is made,” the agency said in a statement. Safety experts will be available to answer questions posed by the other regulators as they weigh whether to allow flights to resume in their countries, according to the FAA.

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    FAA to convene summit of global regulators on 737 Max safety

    The US Federal Aviation Administration next month will brief international aviation regulators on the agency’s work evaluating when the Boeing 737 Max can return to service, which some countries have signaled they intend to decide on their own. The FAA called the May 23 meeting “to provide participants the FAA’s safety analysis that will inform its decision to return the 737 Max fleet to service in the U.S. when it is made,” the agency said in a statement. Safety experts will be available to answer questions posed by the other regulators as they weigh whether to allow flights to resume in their countries, according to the FAA.

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    Boeing suspends outlook as 737 Max uncertainty clouds future

    Boeing’s earnings missed analysts estimates for just the second time in five years as executives grapple with one of the worst crises in the planemaker’s century-long history. The manufacturer abandoned its 2019 financial forecast as it deals with the aftermath of two deadly crashes of its 737 Max aircraft, according to a company statement Wednesday. Boeing also revealed it hadn’t repurchased shares since mid-March after spending $2.3-billion on its stock in the quarter. The second fatal accident within five months occurred March 10 in Ethiopia, spurring regulators globally to ground the single-aisle models.

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    Boeing suspends outlook as 737 Max uncertainty clouds future

    Boeing’s earnings missed analysts estimates for just the second time in five years as executives grapple with one of the worst crises in the planemaker’s century-long history. The manufacturer abandoned its 2019 financial forecast as it deals with the aftermath of two deadly crashes of its 737 Max aircraft, according to a company statement Wednesday. Boeing also revealed it hadn’t repurchased shares since mid-March after spending $2.3-billion on its stock in the quarter. The second fatal accident within five months occurred March 10 in Ethiopia, spurring regulators globally to ground the single-aisle models.

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    Kenya airports body sees land at $10bn on revaluation

    Kenya Airports Authority (KAA) expects its land holdings to be worth more than one-trillion shillings ($9.9-billion) after a revaluation is concluded in a month, CEO Jonny Andersen said. “Since we’ll have a different balance sheet, we can go to the banks and ask for completely different financing because we’ll have so much value,” Andersen said in an interview in the Kenyan capital, Nairobi. “It will completely change the balance sheet of KAA because we are valued at a completely different rate.”

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    Kenya airports body sees land at $10bn on revaluation

    Kenya Airports Authority (KAA) expects its land holdings to be worth more than one-trillion shillings ($9.9-billion) after a revaluation is concluded in a month, CEO Jonny Andersen said. “Since we’ll have a different balance sheet, we can go to the banks and ask for completely different financing because we’ll have so much value,” Andersen said in an interview in the Kenyan capital, Nairobi. “It will completely change the balance sheet of KAA because we are valued at a completely different rate.”

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