News

  Berlin / AFP German Finance Minister Wolfgang Schaeuble said he didn’t understand how Volkswagen bosses could defend their bonuses after a huge emissions-rigging scandal plunged the carmaker into global turmoil, according to an interview with Die Welt published on Sunday. The criticism comes after Volkswagen revealed this week that its top executives would be paid a total of €63.2 ...

  Madrid / AFP A wind of change is blowing on Spain’s renewables: companies and investment funds have been on a buying spree, taking advantage of the know-how and growth prospects of a sector still limping out of a crisis. In 2015 “total transactions reached €5 billion ($5.7 billion)”, says Joao Saint-Aubyn, a Madrid-based energy expert at global consultancy Roland Berger. ...

  Omaha, Neb / AP   Berkshire Hathaway’s idiosyncrasies were on display this weekend, as tens of thousands of people filled an arena to listen to Warren Buffett and Charlie Munger talk business for several hours at the conglomerate’s annual meeting. No other company can match the crowds who attend Berkshire’s meeting, the 51-year-tenure of its top two executives or its ...

  Bloomberg A change to drier weather in Argentina is paring the biggest monthly gain for soybeans since 2014 after floods damaged the country’s crops. Dry weather will prevail in Argentina, the world’s third-largest exporter of soybeans, through early next week, allowing harvesting to accelerate, MDA Weather Services said in a report on Saturday. The harvest is 24 percent complete, ...

  Caracas, Venezuela / AFP With their country gripped by an economic crisis, Venezuelans will lose half an hour of sleep when their clocks are moved forward to save power on President Nicolas Maduro’s order. At 2:30 am local time, the oil-dependent South American nation will shift its time ahead by 30 minutes — to four hours behind Greenwich Mean Time. ...

  New York / BLOOMBERG American International Group Inc. raised $1.25 billion selling shares of Chinese insurer PICC Property & Casualty Co. near the low end of a marketed range. The largest commercial insurer in the U.S. and Canada sold 740 million shares of PICC P&C at HK$13.08 apiece, after earlier offering them at HK$13.06 to HK$13.35, according to terms ...

  DUBAI / WAM HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Silicon Oasis Authority ( DSOA ), the regulatory body for Dubai Silicon Oasis , the integrated free zone technology park, approved the DSOA 2021 Strategy, which is based on UAE Vision 2021 and the Dubai Plan 2021 that provide an enabling operational framework for government entities ...

  ABU DHABI / WAM Juma Mohammed Al Kait, Assistant Under-Secretary of the Ministry of Economy for Foreign Trade Affairs, is heading the UAE trade and investment delegation during his visit to Spain from May 3-4, to attend the UAE-Catalonia Forum, organised by the ministry in cooperation with the UAE’s Consulate General in Barcelona city. While in Spain, the delegation ...

  Bloomberg Britain risks losing its influence on the global stage if it votes to leave the European Union in June, business leaders warned. Publicis Groupe SA Chairman Maurice Levy, former Italian Prime Minister Mario Monti and Confederation of British Industry Director General Carolyn Fairbairn, making the case for Britain to remain in the EU in a Bloomberg Television panel ...

  DUBAI / WAM Dubai Electricity and Water Authority (DEWA) launched phase two of the SAP Governance, Risk, and Compliance system. This includes Asset Control, Process Control, and Risk Management. This phase focuses on managing access-related risks, roles, and business process controls. The second phase started during Q1 of 2016, with the deployment of Access Control and Process Control. Access ...