Dubai / WAM Emirates Central Cooling Systems Corporation (Empower) released a set of guidelines on Sunday to help customers reduce energy consumption, hence cutting down their district cooling bills. The company said there are several methods to reduce the costs of consumption, which include: setting the air conditioner thermostat to 24 C, keeping curtains and windows closed, reducing the use of ...

ABU DHABI / WAM The Department of Urban Planning and Transport (DMT), announced that the 10th World Urban Forum (WUF10), the UN-Habitat conference that aims to raise awareness on sustainable urbanisation in cities and liveability across the globe, will be held in Abu Dhabi from February 8-13. To be hosted for the first time in the Arab region, the forum ...

Bloomberg Japan said it would tighten immigration procedures in the wake of Carlos Ghosn’s dramatic escape from the country after skipping bail, and ordered an investigation on how the former Nissan Motor Co chief disappeared. Justice Minister Masako Mori said authorities were “promptly” asked to find out how Ghosn left Japan without detection once she became aware of the incident. ...

Bloomberg Cyrus Mistry, the former head of Tata Sons Ltd will not seek to return as chairman of India’s biggest conglomerate despite winning a court case against his ouster. The National Company Law Appellate Tribunal, last month, also ordered Mistry to be reinstated as director of Tata companies. Mistry in an emailed statement on Sunday said he will not seek ...

Bloomberg The head of NIO Inc pledged an improvement in the struggling Chinese electric-car maker’s finances as demand picks up and the company’s cost-cutting efforts start to bear fruit. NIO’s sport utility vehicles (SUV) will be competitive not just against other electric models, but all premium cars in the same price range, said William Li, NIO’s co-founder and chief executive ...

Bloomberg WeWork will have to pay about $17 million to its co-chief executives Artie Minson and Sebastian Gunningham if they are fired or leave the company for multiple reasons, the Financial Times reports, citing documents and people briefed on the matter. Minson and Gunningham would receive $8.3 million each under the exit packages negotiated. Chief legal officer Jennifer Berrent would ...

Bloomberg India’s finance ministry has delivered a challenge to its revenue collectors: meet tax targets despite $20 billion of corporate tax cuts. Through a video conference on December 16, officials were exhorted to meet the direct tax mop-up target of 13.4 trillion rupees ($187 billion), a government official told reporters. Collection in the eight months to November grew at 5% ...

Bloomberg A bluefin tuna weighing a staggering 276 kilograms (608 pounds) was sold for 193.2 million yen ($1.8 million) on Sunday at a Tokyo fish market, the second-highest price on record. Kiyomura Corp, which runs the Sushizanmai restaurant chain across Japan, made the winning bid for the second year in a row. It paid a record 333.6 million yen for ...

Bloomberg It’s gone from a dearth to a glut of oil pipeline projects competing to serve slowing production growth in the Permian Basin. Five new oil pipelines are set to open in the Permian Basin through 2021, expanding a gap between production and takeaway capacity that’s already forcing companies to cut fees and could mean lower profits and cutthroat competition ...

Bloomberg South African power utility Eskom Holdings SOC Ltd, which generates about 95% of the country’s electricity, extended power cuts that started on January 4 until Monday after a conveyor belt failure at its Medupi plant — just as Andre de Ruyter officially takes over as head of the cash-strapped company. Eskom extended stage 2 load-shedding, the local term for ...