Business
Maritime workers decry delay in licence renewal for terminal operators
Maritime workers under the aegis of the Maritime Workers Union of Nigeria (MWUN), have expressed disappointment over the continuous delay in the renewal of concession agreement of the terminal operators at the nation’s seaports.
President, MWUN, Adewale Adeyanju, who made this known at the 2024 Dockworkers’ Day organised by the Shipping Correspondents Association of Nigeria (SCAN), in collaboration with the Maritime Workers Union of Nigeria (MWUN), in Lagos, said the workers were determined to see the signing of the licenses which had been long overdue.
He appealed to the federal government to ensure that the agreements were signed as soon as possible, as this was currently impacting on operations at the seaports.
Adeyanju said: “We want to see the renewal of the licenses of terminal operators. There are a lot of dividends that we are getting from giving us responsible terminal operators. Why are you delaying the signing of their agreements?
The workers are now warming up, because they are worried about what is happening to their employees.”
Source: Daily Trust
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Business
WEF could appoint Lagarde as its next chair, sources say
The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of the matter.
•European Central Bank President Christine Lagarde
The World Economic Forum could appoint Christine Lagarde as its next chair as soon as next month, four people close to the organisation told Reuters, meaning she would step down early as European Central Bank chief and trigger a wider reshuffle at the top of the ECB.Lagarde’s ECB term is scheduled to end in October 2027.
Leaving early would give European Union leaders a chance to pick a new ECB President before France’s spring presidential election, which opinion polls suggest the far-right could win, and could pave the way for a deal involving two other senior ECB roles.
The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of the matter.
No final decision has been taken yet, they said.
A spokesperson for the WEF said the forum could not confirm when the next full Board of Trustees meeting would take place, but that the aim was to hold one before the end of the year.
Business
Germany plans tax on sugary drinks
The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.
The German cabinet has approved draft legislation to tax sugary drinks in Europe’s biggest economy.
If passed by the German Bundestag, the tax will take effect on 1 July 2027.
The coalition aims to raise revenue for the federal budget while encouraging manufacturers to reduce sugar content and offer healthier products.
The levy is intended to ease pressure on the healthcare system, which faces costs of more than €2 billion every year linked to the high consumption of sugary drinks, which contributes to obesity, diabetes and tooth decay.
According to the federal government, Berlin is using the tax to implement “what associations from the fields of health, science, child protection, and consumer protection have long been demanding.”
The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.
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