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DUBAI / WAM Dubai Electricity and Water Authority (Dewa), in cooperation with the British Standards Institute (BSI), will soon launch the PAS 60518:2020 standard for risk management in the energy and utilities sector, a first of its kind in the world. Dewa approved the number 60518 for the new standard in reference to the birthdate – May, 6 1918 – ...

Bloomberg One surprising part of the trade deal struck between US president Donald Trump and Beijing is that US investors won a direct shot at the potentially lucrative job of helping China clean up its heap of bad debt. China is embracing foreign capital as it grapples with a tide of soured debt. Some estimate it to have topped $1 ...

Bloomberg Franklin Templeton Asset Management (India) Pvt marked down its debt exposure to Vodafone Group Plc’s India venture to zero, concerned by the operator having to pay $4 billion in back-fees as early as next week. The carrier’s shares suffered a record plunge. The payment deadline has led to “significant uncertainty with respect to our exposure” to the carrier, the ...

Bloomberg Facebook Inc apologised for mistranslating Chinese President Xi Jinping’s name from Burmese to a vulgar word in English in some posts, the New York Times reported. The mistranslation should not have occurred and “we are taking steps to ensure it doesn’t happen again,” the newspaper cited the social media company as saying. The error caught management’s attention when Aung ...

Bloomberg SoftBank Group Corp said it believes WeWork’s core business is still good despite governance and execution challenges. “We are still in it, we are involved, we are helping the company because we believe the idea at its core is very, very good,” said Deep Nishar, senior managing partner at SoftBank’s Vision Fund. “We will help solve WeWork’s problems with ...

Bloomberg Brazilian President Jair Bolsonaro is set to visit India next week, aiming to boost trade with a rapidly growing market as ties with neighbouring Argentina deteriorate. With the Asian nation expanding around 7% a year over the past decade, Brazil sees a huge potential for its exports of food and commodities, according to Marcos Troyjo, the special secretary of ...

Bloomberg Shin Kyuk-ho, a wartime migrant to Japan who returned home to build a little-known chewing-gum maker into Lotte Group, South Korea’s biggest retailer, has died. He was 97. Shin had been hospitalised in Seoul to get medical treatment for various age-related symptoms and passed away on Sunday at 4:29 pm, Lotte Group said. Shin was among the last of ...

Bloomberg Emmanuel Macron’s pre-Davos summit for tech executives will hold some goodies for start-ups. In the third edition of his “Choose France” summit, timed to catch global CEOs in Paris on their way to the Swiss Alps’ World Economic Forum, the French president will detail measures in his 2020 budget that have improved stock options for start-ups in France. Macron ...

Bloomberg Amazon.com Inc opened its first corporate office in the UK not to be based in the nation’s capital city, instead choosing the northern city of Manchester for a new site. The company said it’ll populate the six floors and 90,000 square feet it’s leased in the century-old Hanover Building with 600 new jobs “over time,” including software developers and ...

Bloomberg The mystery surrounding a $66 million painting deepened last month after it resurfaced in the walls of an Italian gallery nearly 23 years after it was reported stolen. Officials announced that the painting by Austrian symbolist artist Gustav Klimt, created between 1916-1917, is authentic. Gardeners at the Ricci Oddi Gallery of Modern Art in northern Italy’s Piacenza province discovered ...