DUBAI / WAM The General Authority for Regulating the Telecommunications Sector (TRA) has signed a sponsorship agreement with the International Telecommunication Union (ITU) for the Multilingual Interactive Remote Participation (MIRP) platform, which ensures that the ITU members can participate in remote meetings using any of its six official languages. This sponsorship is a contribution from UAE in maintaining continued ITU ...

DUBAI / WAM Mercuria Energy Group, the Swiss international commodity trading company, has renewed the lease on their Middle East headquarters at DMCC for another five years. DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has been home to Mercuria Energy Group for over 11 years, and acts as the ...

Bloomberg Chevron Corp will start a sales process for its interest in the North West Shelf project in Australia, one of the nation’s first liquefied natural gas export ventures, after receiving a number of approaches from potential buyers. The US energy major has been looking to make cutbacks as the industry grapples with a once-in-a-generation collapse in demand because of ...

Bloomberg Sasol Ltd is reining in oil expansion and considering job cuts as part of ongoing efforts to turn the business around and protect itself from market downturns. The overhaul at the South African company follows a 50% slump in its shares this year as oil’s crash strained finances already pummeled by cost overruns at a giant US chemicals project. ...

Bloomberg Ikea wants to assemble its own little power plant. The Swedish flat-pack furniture giant plans to cover every inch of rooftop space at one of its 10 Australian megastores, including purpose-built car parks, with solar panels. Together with big-battery storage and other technology, the operation will not only be energy self-sufficient, but will also be able to feed excess ...

Bloomberg India officially started opening its coal sector to non-state firms, seeking to end a government monopoly on mining and selling the fuel. The country launched its first auction process, which will cover 41 mines, the Ministry of Coal said. The ministry expects the mines to generate $4.3 billion of capital investment over the next 5-7 years, and boost the ...

Bloomberg China boosted its budget for renewable power subsidies to 92.36 billion yuan ($13 billion), 7.5% more than it spent last year. Solar power is the big winner, with incentives set to rise 14% compared to last year’s level, while wind payments will be 3.2% lower, the Ministry of Finance said on its website. The subsidy budget would cover existing ...

Until recently, it seemed like the contentious debate over lockdowns was over. By the end of May, many states were defying the warnings of public-health experts, reopening restaurants, retail and public spaces. The huge protests against police brutality and racism reinforced the notion that keeping Americans confined to their homes was a lost cause. Now, even San Francisco, one of ...

HSBC Holdings Plc had little choice. It’s a measure of how much the world has changed that the 35,000 job cuts it announced in February, a plan that looked like radical surgery at the time, are now almost certainly inadequate. The economic damage wreaked by Covid-19 and the political quagmire into which the bank has sunk over its support for ...

The European Union’s chief antitrust official, Margrethe Vestager, has made her name tackling big corporate fish in pretty unconventional ways. A ruling on Alphabet Inc’s Google, which came with a seven-figure fine, argued free services weren’t always good for the consumer, while those on Apple Inc and Starbucks Corp deemed that low taxes were illegal state aid (though some judges ...