DUBAI / GULF TIME ARUNIMA MISHRA US-based Arcserve, a top 5 data protection vendor and unified data resilience platform provider, participated at the recently concluded Gitex Global 2022. For Arcserve, attending Gitex Global 2022, a well-known event for the IT industry over the years, is key to growing our footprint in the GCC region, said Florian Malecki, executive vice …

  Bloomberg Indonesia may only need $37 billion to shut down its coal-fired power plants, even if the bill doesn’t include building renewable energy to take their place. That $37 billion worth of financing would be enough to buy out future revenues of 118 existing coal plants and up to 10 years of contracted coal power generation, meaning Southeast Asia’s …

Bloomberg Russian oil major Rosneft PJSC has filed a legal complaint against the German government’s move last month to take control of its assets in the country. Chancellor Olaf Scholz’s ruling coalition justified the step by saying it was necessary to protect energy supplies and secure the future of the Schwedt refinery near the Polish border, which supplies Berlin and …

Bloomberg Germany met a crucial natural-gas storage target more than two weeks ahead of plan, but the regulator warned that wasn’t enough to guarantee supplies during the coldest months. Gas storage in Europe’s biggest economy is now on average 95% full, ahead of a November 1 deadline, according to the Economy Ministry. Germany was the EU country most reliant on …

  Bloomberg The cost of oil tankers that can navigate icy waters has surged ahead of looming European Union sanctions on the export of Russian crude. Some ice-class Aframax vessels have recently been sold at between $31 million and $34 million, double the price compared with a year earlier, said shipbrokers. The bids for tankers have been aggressive and most …

  Bloomberg BP Plc’s electric-vehicle charging business is partnering with Addison Lee, London’s largest car and courier service, to keep its drivers from running out of battery range. Addison Lee’s fleet of EVs — which is expected to be 1,000 strong by the end of the year — will get enhanced access to BP Pulse’s more than 3,000 charging points, …

  Bloomberg Europe’s largest oil refinery suffered a malfunction, a potential source of jitters for the continent’s refined fuels market where supply has already been hit by industrial action. The compressor of fluid catalytic cracker unit 2 tripped on Oct. 12 due to the loss of power supply, according to a fire safety alert from the region’s Rjinmond Veilig service. …

  Bloomberg Qantas Airways Ltd has surged back to profitability on booming travel demand after most pandemic-era curbs were dismantled, helping shore up Alan Joyce’s position as chief executive officer and sending the shares to their biggest gain in two-and-a-half years. First-half underlying profit before tax is seen at A$1.2 billion to A$1.3 billion ($816 million) — ending a streak …

  Bloomberg European Union (EU) nations backed off from a confrontation over what proportion of takeoff and landing slots airlines should be compelled to use this winter. Member states have agreed to a use-them-or-lose-them level of 75% for the airport slots, up from 64% now, as demand rebounds from the coronavirus crisis, according to a statement from the European Council. A …

Bloomberg LVMH sales jumped as the owner of Louis Vuitton and Christian Dior benefited from wealthy American tourists splurging on luxury goods in Europe. Defying fears of a global recession, sales of LVMH’s fashion and leather goods soared 22% on an organic basis in the third quarter, the company reported. Analysts had expected a gain of 16%. Even so, the …