Dubai / WAM Dubai Electricity and Water Authority (Dewa) inaugurated six electricity transmission substations with a total investment of over AED 1.1 billion from the beginning of 2021 to April 30. This is part of its efforts to provide electricity and water services according to highest standards of availability, reliability, and efficiency. The substations include a 400 kilovolt (kV) substation ...

Complacency, populism and poor infrastructure fueled a devastating second wave of Covid-19 in India, a disaster that has infected millions and wrought havoc well beyond its borders thanks to a new, more contagious variant. But none of those failings are unique to the country. So why are we not paying more attention to surges elsewhere in the neighborhood, in places ...

Many people knew this was coming. Cryptocurrencies had one of the worst days in their short history last week. Bitcoin’s price careened, plunging 31% before recovering to a loss of about 10%. Ethereum, Dogecoin and Binance Coin all fell about 20%. The reasons why are still being sorted; crypto is a relatively new market and we don’t have much data ...

Recycling is “dead,” say the obituaries. And if it’s not dead it’s “broken,” “not working,” “in the bin,” “failing,” a “charade,” “a lie,” and of course “too good to be true.” This gloomy narrative has gained momentum over the past three years as cities struggled to find places to send the stuff that people toss in their blue bins. Some ...

Governments wanting to stop big businesses from shifting profits to low-tax jurisdictions have a carrot and a stick at their disposal. The stick involves regulating practices such as corporate inversion, aggressive transfer pricing and license royalties so that tax avoidance is effectively outlawed. The carrot involves lowering your own tax rates so that the advantages of moving profits offshore disappear. ...

Bloomberg PT Garuda Indonesia needs to completely restructure its business, potentially reducing the number of planes it operates to less than half its main fleet as it seeks to survive the crisis wrought by the pandemic, its president told staff this week. “We have to go through a comprehensive restructuring, a total one,” President Director Irfan Setiaputra said in an ...

Bloomberg Italy is nearing a deal with the European Union to set up a new national carrier from failed airline Alitalia SpA and may get an informal go-ahead by next week, newspaper Il Messaggero reported. Talks with the European Commission to green-light Alitalia’s planned restart have been mired in a standstill after several rounds of meetings. EU officials are demanding ...

Bloomberg The biggest customer for Airbus SE’s top-selling A320 narrow-body has chosen General Electric Co engines for a massive order, after pitting the conglomerate against its dominant US supplier, Pratt & Whitney. IndiGo, India’s largest airline, has selected CFM International Inc, a venture between GE and France’s Safran SA, to supply LEAP-1A engines for its fleet of 310 new Airbus ...

Bloomberg Britons are ignoring government advice to avoid traveling to countries on the UK’s Covid-19 “amber” list, the Mail cited Michael O’Leary, the chief executive of Ryanair Holdings Plc, as saying. Families are booking flights to restricted destinations in anticipation of a relaxation of the guidance once they come to take their vacations, O’Leary said in an interview, according to ...

Bloomberg The franchise operator of Zara and two other popular apparel chains will close all of its stores in Venezuela in the next few weeks. Zara, along with Pull&Bear and Bershka, are owned by Spain’s Inditex SA and have been operating as franchises in Venezuela since 2007. The franchise is managed by Panamanian-based company Phoenix World Trade, run by Camilo ...