September, 2021

• 8 September

  Expo 2020 to create far-reaching economic benefits, says Cisco MD

  

  Dubai / WAM Expo 2020 Dubai is expected to create huge tangible and intangible economic benefits for the emirate and the wider region, with new and expanded infrastructure serving business communities and societies for the long-term, says Shukri Eid, Managing Director, Gulf Region, Cisco. “What’s fascinating is the sheer scale of Expo 2020. We are talking about vast investments in ...

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• 8 September

  DSC completes evaluation of clubs, sports companies

  

  Dubai / WAM The Dubai Sports Council announced the completion of the evaluation of Dubai clubs and football companies for the “Dubai Sports Excellence Model Awards” in collaboration with an internationally renowned specialist to ensure transparency. The council had received more than 100 nomination files for the fifth edition of Dubai Sports Excellence Model Awards, which takes into consideration the ...

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• 8 September

  Neptune considers merger with its rival Harbour Energy

  

  Bloomberg Neptune Energy Group Ltd, the private equity-backed explorer, is considering options including a merger with Harbour Energy Plc that could create one of Europe’s largest independent oil and gas companies, people familiar with the matter said. Neptune, part-owned by Carlyle Group Inc and CVC Capital Partners, is working with an adviser as it studies a potential combination with London-listed ...

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• 8 September

  Sinopec profit surges on Chinese fuel, plastics demand

  Bloomberg China Petroleum & Chemical Corp, commonly known as Sinopec, returned to profit in the first half as the nation’s recovery from the pandemic boosted demand for the refiner’s transport fuels and plastics. Asia’s biggest oil refiner posted a net profit of $6.2 billion, compared with a loss of 21.8 billion yuan a year ago, the company said in a ...

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• 8 September

  Goldman Sachs needs IPO to go extremely well

  

  Goldman Sachs Group Inc doubtless wants every initial public offering it’s involved in to go well. But the US investment bank has a lot riding on one in particular: the potential London listing of Petershill Partners. This vehicle for owning stakes in private-equity firms could be a hot property. Even so, Goldman would be ill-advised to push IPO investors to ...

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• 8 September

  Is Xi leading China into a trap?

  

  An ancient Mesopotamian tale tells of a servant in Baghdad who meets Death at the marketplace. Terrified by Death’s menacing expression, he takes his master’s horse and flees to Samarra. Later, the master sees Death and asks why she made a threatening gesture to the servant. Death replies that it was only a start of surprise. “I was astonished to ...

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• 8 September

  Fossil fuels’ price boom isn’t the ‘real victory’

  From the price action, you’d think that fossil fuels are back in business. Since breaking above $100 a metric ton in May, the price of coal at Australia’s Newcastle port — a benchmark for Asia, which consumes about three-quarters of the world’s soot — has gone almost vertical, hitting a record $173.10 a ton. The key regional contract for liquefied ...

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• 8 September

  Guinea can’t shake its mineral resource curse

  For many Guineans, the scenes that played out were a blast from the not-so-distant past: A military officer in dark glasses and fatigues on television dissolving the government and the constitution, unauthenticated videos of a disheveled-looking, apparently overthrown president, gunfire on the streets of Conakry. The trouble for the West African nation is that the failure to make the most ...

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• 8 September

  Lufthansa seeks bailout deal before Merkel exits office

  

  Bloomberg Deutsche Lufthansa AG is seeking to secure a deal on how Germany will wind down its investment in the airline before Angela Merkel’s government leaves office, a moment that could see a less sympathetic coalition sweep to power. The comments by Chief Executive Officer Carsten Spohr amount to an admission that his previous deadline of repaying the remainder of ...

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• 8 September

  Qantas to test new routes as countries reopen again

  

  Bloomberg Qantas Airways Ltd is likely to fly to several new overseas destinations next year after pushing ahead with plans to resume international flights from December. “We’ll probably try a lot of new routes internationally as certain borders open up,” Chief Executive Officer Alan Joyce said at a virtual business conference on Tuesday, without giving any specific destinations. Prior to ...

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