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Expo 2020 Dubai to mark earth’s nature and biodiversity

DUBAI / WAM Expo 2020 Dubai will celebrate World Wildlife Day 2022 to spearhead a series of programmes dedicated to wildlife conservation and biodiversity, in partnership with the UAE Ministry of Climate Change and Environment and the United Nations Environmental Programme (UNEP). UN World Wildlife Day, celebrated annually on March 3, will be marked during Expo 2020’s Climate and Biodiversity ...

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Indonesia plans $500m merged geothermal firm IPO

Bloomberg Indonesia is planning an initial public offering that could raise at least $500 million as part of its bid to create the world’s biggest geothermal company, according to people with knowledge of the matter. The Southeast Asian nation, which last week announced its plan to combine three separate state-owned geothermal companies, is working with advisers to complete the tie-up ...

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New York’s bankers still tower over Europe

A blockbuster year for securities trading in 2020 helped some of Europe’s investment banks gain market share as they compete against bigger Wall Street rivals. But the titans of US finance — led by JPMorgan Chase & Co, Goldman Sachs Group Inc and Morgan Stanley — also expanded, meaning the bigger picture of New York dominance is still the same. ...

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Who really pays for Google, Facebook

Google and Facebook make a lot of noise about how their main services are free to use. And it’s true, they are. But what they don’t highlight is their role in making almost everything else we consume online more expensive. Consider all the paywalls and paid services that are rolling out across the internet. News, films, music and even theatrical ...

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Hong Kong needs more unicorns for SPAC race

New York is the place where more startups — from EV battery makers to flying cars — have gone public by way of the boom in SPACs, or special purpose acquisition companies. Once listed, SPACs are on the lookout to place their vast sums in promising enterprises (which then don’t have to go through the complex initial public offering process). ...

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Big Oil is unwilling to bet on future of crude

For a century, there’s been a key metric for judging the direction of the oil industry: The number of years it would take for wells to run dry. The reserves-to-production ratio or R/P — calculated as oil reserves, divided by annual production — has remained at eerily consistent levels since John D Rockefeller’s day. At major oil companies and in ...

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Thai Airways revamp plan gets support from top shareholder

Bloomberg Thailand’s finance ministry, the largest shareholder of Thai Airways International Pcl, signalled its support for a restructuring plan that includes raising fresh capital, a temporary freeze on repayment of borrowings and slashing its workforce by half to return the debt-ridden airline to profit. The key elements of the debt rehabilitation plan are “quite acceptable,” Pantip Sripimol, director general of ...

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Boeing jabs Airbus on safety risk in A321XLR

Bloomberg Boeing Co called out potential fire-safety issues with the fuel-tank design on Airbus SE’s coming A321XLR, a jet that’s crucial to the European planemaker’s future lineup. Airbus has positioned the rear-center fuel tank of the A321XLR under the floor of the passenger cabin — giving it the added range that makes the plane, due in 2023, such a threat ...

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United boosts Max order by 25 aircraft, speeds up deliveries

Bloomberg United Airlines Holdings Inc expanded its order of Boeing Co 737 Max jets by 25 planes less than a month after resuming flights with the aircraft, which is emerging from a record US grounding. In addition, deliveries of 40 of the single-aisle jetliners will be sped up to 2022 with another five accelerated to the following year, United said ...

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Ting Hsin weighing $800m IPO of KFC’s Chinese rival

Bloomberg Ting Hsin International Group, the Taiwanese food company behind the Master Kong brand, is weighing a Hong Kong initial public offering (IPO) of its restaurant business in mainland China, people with knowledge of the matter said. The firm has invited banks to pitch for a role on the listing, said the people, who asked not to be identified as ...

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