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APM Terminals Preaches Gender Diversity in Economic Development

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NEPC
  • APM Terminals Preaches Gender Diversity in Economic Development

APM Terminals Apapa Limited has challenged qualified women professionals to take their right place in Nigeria’s economic development, and should not be hindered by gender biases.

The advice came from the Head, Human Resource of APM Terminals Apapa, Bunmi Pratt, as female employees joined other women across the world to mark the 2017 International Women’s Day, with the theme, “Be bold for Change”.

Globally, and even more so in Nigeria, women play secondary roles in socio-economic development, a development that the United Nations is struggling to change by encouraging the participation of more women in politics and economy.

The International Women’s Day celebrates the social, economic, cultural and political achievements of women globally. The day, which is celebrated every March 8, also marks a call to action for accelerating gender parity.

To this end, Pratt disclosed that APM Terminals is looking at hiring more women within the group to achieve gender diversity. “We need more professional women to stand up and take up the jobs that they are qualified for and not restricted by gender bias,” she said

According to her, “A.P. Moller-Maersk believes in diversity, not just gender diversity, but diversity in nationality or ethnicity, thoughts and even disability as a result.

“To achieve this gender diversity especially for women, we have anchored the diversity principle in our hiring process so that when we hire, we don’t just hire a woman but we hire and make sure that we have a diverse work force, reaching out to the talents, including women available in the country.”

She said the company is committed to providing the right environment for women to enable them thrive in the workplace, which made the company to change its maternity policy, to help women keep their jobs rather than quit after child birth.

“For us at APM Terminals, especially in Nigeria, we are very committed to looking at the whole life cycle of the female employee, from the recruitment process, to training, development and even during maternity.

“We are committed to creating the right environment for women to do their job while also taking care of the social life. We know that women have certain responsibilities, so we want to create a work environment that allows them to manage both, effectively creating an inclusive and engaging work environment.

“Last year, we changed our maternity policy to increase the retention of women following childbirth or adoption. We are now implementing a maternity policy that improves benefits during and after maternity leave for employees globally. This has helped most of the ladies who would otherwise have dropped out of work,” she said.

The President, Women in Logistics and Transportation (WILAT), Hajia Aisha Ali-Ibrahim, who doubles as the Port Manager, Lagos Port Complex, Apapa, also enjoined women to be more committed, hardworking and to believe in themselves and their chosen careers.

The event attracted notable women from across the maritime industry, including members of WILAT. APM Terminals is the largest container facility in Lagos, Nigeria’s largest business district, and currently operates the Apapa and WACT facilities in Nigeria, with plans to develop a third at Badagry.

It is also the largest container terminal operation in West Africa, having doubled container traffic after concession began in 2006, with dramatically improved productivity.

A $350 million investment and expansion programme was announced for APM Terminals Apapa since 2006. Nigeria is the most populous nation in Africa, and the 7th-largest in the world with a population of 177 million, and is Africa’s largest economy.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Crude Oil

Global Oil Drops as Coronavirus Infections Rises in India and Other Nations

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Crude oil

Oil prices declined on Monday during the Asian trading session amid rising concerns that the surge in coronavirus in India and other nations could force regulators to enforce stronger measures at curbing its spread and eventually affect economic activity and drag on demand for commodities like crude oil.

Brent crude oil, against which Nigerian oil is priced, declined by 22 cents or 0.33 percent to $66.55 per barrel at 8:19 am Nigerian time on Monday, following a 6 percent surge last week.

The US West Texas Intermediate (WTI) declined by 18 cents or 0.29 percent to $62.95 per barrel, after it gained 6.4 percent last week.

The decline was after India reported 261,500 new coronavirus infections on Sunday, taking the country’s total cases to almost 14.8 million, second to only the United States that has reported over 31 million coronavirus infections.

“With … a resurgence of virus cases in India and Japan, topside ambitions continue to run into walls of profit-taking,” said Stephen Innes, chief market strategist at Axi.

Businesses in Japan believed the world’s third-largest economy will experience a fourth round of coronavirus infections, with many bracing for an additional slow down in economic activity.

While Japan has had fewer COVID-19 cases when compared with other major economies, concerns about a new wave of infections are fast rising, according to responses in Reuters poll.

On Tuesday, April 20, 2020, Hong Kong will suspend all from India, Pakistan and the Philippines because of imported coronavirus infections, authorities stated in a statement released on Sunday.

India’s COVID-19 death rose by a record 1,501 to hit 177,150.

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Global Markets Near Record Peaks and Will Get Stronger: deVere CEO

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Stocks

As the FTSE 100 hits 7,000 points for the first time since the Covid pandemic, global stock markets are poised to “get even stronger”, says the CEO of one of the world’s largest independent financial advisory and fintech organisations.

The observation from Nigel Green, the chief executive and founder of deVere Group, comes as London’s index jumped over the important threshold in early trading in London, gaining over 0.5% to 7024 points.

Mr Green notes: “London’s blue-chip index is up 40% since the worst lows of the pandemic.

“This landmark moment represents the wider optimistic sentiment gripping global markets which are near record peaks.

“We can expect global stock markets to get even stronger as investors look to seize the opportunities from economies reopening.

“They are looking towards economies rebounding in a post-pandemic era due to the monetary and fiscal stimulus, pent-up cash and demand, and strong corporate earnings.

“The current ultra-low interest rate environment and the under-performance of bonds will also act as a catalyst for stock markets.”

However, the CEO’s bullish comments also come with a warning.

“I would urge investors to proceed with caution as there are some headwinds on the horizon, including relations between the U.S. and China, the world’s two largest economies, which could be coming to a tipping point in coming weeks.

“As such, in order to capitalise on the opportunities and mitigate risks, investors must ensure proper portfolio diversification.”

Mr Green concludes: “A variety of factors are going to drive global stock markets. Investors will not want to miss out and should work with a good fund manager to judiciously top-up their portfolios.”

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Refinitiv Expands Economic Data Coverage Across Africa

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Building on its commitment to drive positive change through its data and insights, Refinitiv today announced the expansion of its economic data coverage of Africa. The new data set allows investment managers, central bankers, economists, and research teams to use Refinitiv Datasteam analytical data for detailed exploration of economic relationships and investment opportunities among data series covering the African continent.

Securing reliable, detailed, timely, locally sourced content has not been easy for economists who have in the past had to use international sources which often can take many months to update and opportunities to monitor the market can be missed. Because Africa is a diverse continent, economists and strategists need more timely access to country-specific data via national sources to create tailored business, policy, trading and investment strategies to meet specific goals.

Africa continues to develop critical infrastructure, telecommunications, digital technology and access to financial services for its 1.3bn people. The World Bank estimates that over 50% of African inhabitants will be under 25 by 2050. This presents substantial opportunities for investors who can spot important trends and make informed decisions based on robust and timely economic data.

Stuart Brown, Group Head of Enterprise Data Solutions, Refinitiv, said: “Africa’s growing, dynamic and fast evolving economies makes it a focal point for financial markets today and in the coming decades.  As part of LSEG’s commitment to empowering the global markets with accurate and timely data, we are excited about making these unique datasets available via the Refinitiv Data Platform. Our economic data coverage of Africa will provide our customers with deeper and broader inputs for macroeconomic analyses and enable more effective investment strategies and economic research.”

Refinitiv Africa economic data coverage:

  • Africa economics content comprises around 500,000 nationally sourced time series data covering 54 African nations
  • Content is sourced from national statistical offices, central banks and other key national institutions
  • The full breadth of economics categories in Datastream including national accounts, money and finance, prices, surveys, labor market, consumer, industry, government and external sectors
  • International sources including OECD, World Bank, IMF, African Development Bank, Oxford Economics & more provide comparable data & forecasts across the continent

Refinitiv® Datastream® has global macroeconomics coverage to analyze virtually any macro environment, and better understand economic cycles to uncover trends and forecast market conditions. With over 14.2 million economic times series map trends, customers can validate ideas and identify opportunities using Refinitiv Datastream. Access its powerful charting tools, 9,000 pre-built chart templates and chart studies for commonly used valuation, performance, and technical and fundamental analysis.

 Refinitiv continually grows available data – the China expansion in 2019 covered a unique combination of economic and financial indicators. Refinitiv plans to expand Southeast Asia covering Thailand, Vietnam, Philippines and Malaysia with delivery expected in 2021. This ensures that Refinitiv will have much needed emerging market economic content.

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