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AirFrance Launches Boeing 777-300 Aircraft

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In order to meet passengers’ and customers’ expectations in Nigeria, Airfrance last Monday launched its much celebrated daily wide Boeing 777-300 aircraft to Port Harcourt via Lagos.

Speaking at the cocktail party to commensurate the wide body boeing 737-300 operations, the District Manager, Eastern Nigeria, Mr Yann Gilbert said using the aircraft on the Port Harcourt route would offer improved services, stating that the aircraft has tri-class cabin, including first Business and economy classes and free baggage allowances for customers.

Gilbert who noted that Airfrance was the first international airline to operate at the airport also resumed operations in 2008 with its Airbus 319 after the reopening, said passengers of the aircraft are entitled to two pieces of luggage weighing less than 23kgs each in economy class instead of the previous 20kgs allowance.

The District Manager noted that the management of the airline has improve its personal  flight entertainment in all cabins and all products and services of Air France’s international long haul standards.

According to him, the introduction of Boeing 777-300 series supports AirFrance’s policy and efforts to offer its customers its best possible fares, products and services.

He noted that the flight offers great connections through Paris-Charles de Gaulle hub to North America, Asia and European cities, explaining that it operates daily to the Port Harcourt International Airport.

Gilbert further disclosed that passengers using the service will have to enjoy the benefits of Terminal 2E in Paris-Charles-de Gaulle airport.

The airline pointed out that in order to fulfill some of its commitments by being closer to its customers, and answer their specific expectations, the airline opened two new offices in Port Harcourt and Uyo and would also introduce premium voyageur in Port Harcorut and Lagos next year.

The airline said the premium voyageur will be offering expanded comfort and trimmed fares on long-haul routes.

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NSE Begins Week On Negative Note, Loses N19.49bn

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The Nigerian stock market began the week on a negative note as banking and consumer goods stocks, among others, triggered a N19.49bn loss.
At the end of trading on the floor of the Nigerian  Exchange Limited , the NGX All-Share Index dropped by 0.09 per cent to end at 43,270.94 basis points, while the market capitalisation declined to N22.58tn.
Market activities were mixed as the total volume of shares traded decreased by 30.19 per cent while the value traded rose by 34.05 per cent.
A total of 213.13 million shares valued at N2.36bn were exchanged in 4,105 deals, compared to 305.32 million shares worth N3.58bn in 4,450 deals last Friday.
FCMB Group Plc topped the traded stocks in terms of volume, accounting for 27.43 per cent of the total volume of trades while Airtel Africa Plc emerged as the most traded stock by value, representing 28.81 per cent of the total value of trades on the exchange.
14 firms gained compared to 21 losers.
AIICO Insurance Plc was the biggest gainer for the day, topping the gainers’ chart with a price appreciation of 8.57 per cent to N0.76 per share.
It was followed by LivingTrust Mortgage Bank Plc with a rise of 7.95 per cent, ending the day at N0.95 per share.
Analysing by sectors, three of the five major indices closed lower, led by NGX Oil & Gas (-0.56 per cent), NGX Consumer Goods (-0.23 per cent) and NGX Banking (0.18 per cent).
But the insurance (0.82 per cent) and industrial goods (0.002 per cent) indices gained at the end of trading.

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… Introduces TIES To Boost  Business Loan

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The Central Bank of Nigeria (CBN) has introduced the Tertiary Institutions Entrepreneurship Scheme (TIES), which provides undergraduates and graduates with a platform to access loans.
The TIES’ underlying aim is to provide access to capital for Nigerian undergraduates and graduates with innovative entrepreneurial and technological ideas from polytechnics and universities.
TIES intends to shift undergraduates and graduates away from white-collar job pursuits and towards a culture of entrepreneurship development for economic development and job creation.
In a national biennial entrepreneurship competition, the Developmental Component would be distributed in the form of awards to Nigerian polytechnics and universities.
The competition aims to increase undergraduates’ awareness and visibility of high-impact entrepreneurial/technological concepts, foster entrepreneurial talent hunts in Nigerian polytechnics and universities, and encourage commercially viable and transformative technologies.
Interested Nigerian polytechnics and universities shall apply to participate in the national biennial entrepreneurship competition on a dedicated online portal.
Outlining brief details of the project, potential impact and evidence of originality of project, CBN said it is an innovation for students entrepreneurs.

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CITN Applauds FG, Tax Authorities On Fiscal Policy Decisions

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The Chartered Institute of Taxation of Nigeria (CITN) has lauded the Federal Government and tax authorities on the giant strides made on fiscal policy decisions and tax administration measures initiated this year in the area of Finance Act 2021 and the introduction of TaxPromax solution.
President of the institute, Adesina Adedayo, who gave the commendation at the institute’s yearly award ceremony at the weekend in Lagos, assured the government and tax authorities of aligning with the measures and promised to provide professional thoughts and insights on ways through which they could achieve an efficient and effective Nigerian tax system.
Adedayo emphasised the need to address the database, adding that without knowing who the tax-payers are, there is no way they can take money from unknown tax-payers.
Database is the aspect we have been emphasising on as an institute and in doing this, there are so many of pockets of data we have. All the data must be harmonised to have a simple unique tax-payers identification number,” he said.

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