February, 2021

• 2 February

  CBUAE’s new regulation to protect consumers

  

  ABU DHABI / WAM The central bank of the UAE (CBUAE) has issued a Consumer Protection Regulation, the foundation of its new Financial Consumer Protection Regulatory Framework (FCPRF) and aims to ensure the fair treatment and protection of consumers. The new regulation is supported by Decretal Federal Law No. 14 of 2018 Regarding the Central Bank and Organisation of Financial ...

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• 2 February

  Enoc completes construction of its Expo 2020 Dubai pavilion

  

  DUBAI / WAM Enoc Group on Monday announced that the construction of its pavilion at Expo 2020 has been completed. The state-of-the-art pavilion under the theme of ‘Reimagine Energy,’ occupies a plot of approximately 2,060 m2 and comprises five distinct structures. The pavilion was built using 700 tonnes of steel to minimise waste and environmental impact, and to promote environmental ...

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• 2 February

  BP sells gas stake to Thai firm for $2.6b

  

  Bloomberg BP Plc will sell a stake in an Omani gas block to Thailand’s national energy firm for $2.6 billion, part of a push to divest billions of dollars of assets and focus more on renewable energy. PTT Exploration and Production Public Co Ltd has agreed to pay the sum for 20% of Block 61, according to statements from both ...

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• 2 February

  NextEnergy aims to raise $412mn in London IPO

  

  Bloomberg NextEnergy Renewables Ltd plans to raise 300 million pounds ($412 million) in an initial public offering in London, capitalising on growing demand for sustainable investments. The company will invest in renewable power assets and other infrastructure that enables the transition away from fossil fuels, the latest example of asset managers trying to match investors increasing concerns about environmental, social ...

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• 2 February

  China solar unit defaults on $500m amid 700% rally

  

  Bloomberg A unit of GCL-Poly Energy Holdings Ltd defaulted on a $500 million bond after ending an exchange offer with existing bondholders. GCL New Energy Holdings Ltd announced the default in a Monday exchange filing. The firm, which operates solar power plants, is majority owned by GCL-Poly, one of the world’s leading makers of solar-grade polysilicon, and whose shares have ...

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• 1 February

  Indian firms hungry for LNG cargoes

  

  Bloomberg Indian firms are returning to the liquefied natural gas (LNG) spot market as prices for the fuel recede from record-high levels. Importers including Indian Oil Corp and Petronet LNG Ltd have issued at least eight tenders seeking supplies for February to March delivery in the last two weeks. So far, four of them have been awarded. Most end-users stopped ...

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• 1 February

  2021 is a tipping point for the female leaders

  

  Will 2021 be the year that leadership becomes feminine? As the year begins, there are more top female leaders than ever before. In the US, about a quarter of the legislature is female. Kamala Harris just became the first woman Vice President. Half of the Biden-Harris administration’s cabinet is female — another first. Women leaders are making gains in business ...

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• 1 February

  Is Boris Johnson still PM of the UK?

  

  In the eyes of many voters, Boris Johnson stopped being prime minister for the whole of the United Kingdom as soon as the Covid pandemic began to rage last March. Instead he appears to have shrunk to the status of England’s uncertain chief executive, taking orders from technocrats and scientific advisers. North of the border, it is Nicola Sturgeon, leader ...

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• 1 February

  Can the gentrification process be stopped?

  Supporters and opponents of gentrification seem to agree on one thing: It can’t be stopped. The more important question is whether the process can be managed — its benefits maximised and its costs mitigated. With enough will and engagement at the community level, as well as strong direction and coordination from local governments? The first thing to note is that ...

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• 1 February

  What to call a merged Exxon Mobil-Chevron?

  What would one even call a merged Exxon Mobil and Chevron? Exron sounds a little too much like another former energy powerhouse from Texas. Standard Oil would be a reasonable compromise given it would reunify so many of the baby Rockefellers. But the PR types and the lawyers might think it best not to put that in front of the ...

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