Satellite communications company Globalstar receives terrestrial authorization in Kenya

KENYA – American satellite communications company Globalstar Inc. has obtained terrestrial authorizations in Kenya, Brazil and Canada. The three countries represent an additional covered population of 300 million and 3.7 billion MHz-Pops, bringing the company’s total terrestrial authority to over 9 billion MHz-Pops and coverage of a total population of approximately 700 million. “Since completing the FCC licensing process for terrestrial service in 2.4 GHz, we have pursued a global initiative to obtain terrestrial authorizations in a multitude of countries in pursuit of commercial spectrum global harmonization. We are incredibly…

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Nigeria partners Brazil to launch US$1.2bn agriculture development programme

NIGERIA — The Federal government of Nigeria has launched the US$1.2billion agricultural programme dubbed “The Green Imperative” aimed to revolutionize the sector, targeting to create five million jobs and inject US$10 billion into the economy. The program is a product of Nigeria’s decision, dating back to June 6, 2016, to enrol in Brazil’s government-to-government More Food International Programme (MFIP), to be implemented over a period of five to 10 years. This was disclosed by the Minister of Information and Culture, Alhaji Lai Mohammed, and his counterpart at the Ministry of Agriculture…

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Thyssenkrupp, Embraer sign US$2bn deal to build four frigates for Brazil Navy

BRAZIL – A consortium formed by Germany’s Thyssenkrupp AG and Brazilian planemaker Embraer SA signed a deal to deliver four frigates to Brazil’s navy between 2025 and 2028. Reuters reported that the contract signed in Rio de Janeiro is part of Brazil’s drive to modernize its navy so it can patrol offshore resources in the Atlantic, such as Brazil’s vast pre-salt oil reserves. Although the companies did not disclose the price tag, the Brazilian navy website said the four-ship program will cost about US$2 billion. Last year, the companies had…

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Dwindling fortunes as oil oversupply projected to persist despite OPEC deal

GLOBAL – The International Energy Agency has said there will be an oversupply of crude oil next year even if the Organisation of Petroleum Exporting Countries (OPEC) and its allies deliver newly-announced production cuts in full. OPEC, in its latest monthly oil market, said significant and successful effort of countries participating in the Declaration of Cooperation (DOC) had helped the global oil market to remain relatively balanced in 2019. It said countries participating in the (DOC) reaffirmed their continuing commitment to oil market stability as they decided this month to…

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Brazil’s paper industry giant Klabin secures US$280m loan from IFC to increase capacity and enhance efficiency

BRAZIL – Brazil’s largest producer, exporter and recycler of packaging paper, Klabin has secured a US$280 million for its Puma Project II from the International Finance Corporation (IFC). IFC said in a statement that financing to one of the largest producers of paper in Latin America will support the company’s growth as well as improve Brazilian pulp and paper sector competitiveness and social-environmental standards in addition to promoting job creation. The Puma II Project comprises the construction of two new kraftliner packaging paper machines with integrated pulp production which are…

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