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Military Kills 52 Suspected Militants In Sinai

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Military Kills 52 Suspected Militants In Sinai

Egyptian security forces pressing a campaign against hardliner militants have killed 52 suspected militants in the Sinai Peninsula in operations in which three soldiers also died, the army said on Monday.

The military launched a sweeping operation in February focused on the Sinai in eastern Egypt aimed at wiping out militants, including from the Daesh group, who have been waging a bloody insurgency.

On Monday, the military said that 52 “takfiris” or extremists were killed in two separate operations by security forces in the restive peninsula.

Three members of the armed forces were also killed in these operations, it said in a statement, without stating when they took place.

The military has regularly reported operations in the Sinai since it launched the campaign.

According to official figures, a total of more than 350 suspected militants and at least 30 soldiers have been killed in the “Sinai 2018” campaign.

Security sources said last week that local Daesh leader Abu Hamza Al Maqdisi had been killed in an air raid on the Sinai. The extremist group confirmed his death.

Militants have killed hundreds of police officers and soldiers in the Sinai since the ouster of former president Mohamed Mursi in 2013.

A couple of days ago US First lady Melania Trump visited Egypt and she held a one-hour meeting with President Abdel Fattah Al Sisi and his wife at the palace.

The visit came as Egyptian security forces face a persistent insurgency in the Sinai Peninsula across the Suez Canal to the northeast.

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Nigerian News

IATA Inaugurates Turbulence Aware Data Resource To Forecast Turbulence

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IATA Inaugurates Turbulence Aware Data Resource To Forecast Turbulence

The ability of airlines to forecast and avoid turbulence would now be greatly enhanced as the International Air Transport Association, IATA, has inaugurated a turbulence aware data resource.

IATA said the system would pool and share turbulence date generated by participating airlines. The global body for airlines said before now, airlines had to depend on reports and weather advisories from pilots to offset the impact of turbulence.

IATA says the result would be the first global, real-time, detailed and objective information for pilots and operation’ professionals to manage turbulence.

It is expected that airlines operating in Nigeria would participate and benefit from this new system.

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Nigerian News

Oil Price Stability Buoys Nigeria’s Budget Benchmark

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Oil Price Stability Buoys Nigeria's Budget Benchmark

Nigerian budget benchmark appears buoyed by oil price stability as a result of cuts in production levels to which OPEC members have agreed.

The benchmark of sixty dollars was eroded by sustained drops in price. The high for the year was eighty-six dollars which dropped to about fifty-eight dollars last week.

It rebounded to sixty-two dollars per barrel last week, just as the federal executive council was to hold an emergency meeting on how the price drops would affect the Nigerian budget.

Opec countries had agreed to reduce daily production by eight hundred thousand barrels, while non-OPEC members decided to reduce production by four hundred thousand barrels per day.

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Business News

CBN And MTN Plan To Settle $8b Rift Out Of Court

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CBN And MTN Plan To Settle $8b Rift Out Of Court

It seems as though the Central Bank of Nigeria and telco giant, MTN, are trying to find ways of resolving the $8 billion rift between them. One of MTN’s lawyers is quoted as saying they are making moves toward an out-of-court settlement.

Meanwhile, counsels for both parties have secured another adjournment until late January.

Another $2 billion case involving MTN and the Nigerian attorney general’s office was adjourned as well last week until early January.  This case is related to alleged back taxes owed by MTN.  The telco giant has denied it owed the taxes.

The $8 billion case was a result of a charge against MTN for allegedly violating Nigeria’s extant laws.  In August, Central Bank of Nigeria sanctioned MTN Nigeria for allegedly using irregular certificates of capital importation to transfer $8.1 billion to South Africa on behalf of its offshore investors.

MTN is being asked to return the $8.1 billion to Nigeria.

Mtn group’s Nigerian operations account for one-third of its entire African market share.

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