November, 2020

• 2 November

  17th SteelFab event delayed to June 2021

  

  Sharjah / WAM The Expo Centre Sharjah, the organiser and the host of the SteelFab exhibition, has announced the postponement of the 17th edition of the event, which was scheduled to be held in January 2021, to June of the same year. In a statement, the centre’s Board of Directors said that the decision made after assessing the current global ...

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• 2 November

  UAE leads global renewable energy efforts

  

  DUBAI / WAM The Global Renewables Outlook: Energy Transformation 2050 report issued by the International Renewable Energy Agency (Irena), in April this year indicated that the transition to renewables, efficiency and electrification could drive overall socio-economic development, supported by comprehensive policies to cut carbon emissions. The use of hydrogen and synthetic fuels, direct electrification, advanced biofuels and carbon management will ...

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• 2 November

  NPCC ranked top EPC contractor in Mideast

  

  Abu Dhabi / WAM National Petroleum Construction Company (NPCC) the nation’s leading energy sector Engineering, Procurement and Construction (EPC) major with a fast-growing global footprint of operations, has been ranked as the Top EPC Contractor in the Middle East by the leading industry magazine Oil & Gas Middle East. NPCC recorded this outstanding recognition, ahead of global EPC majors, underlining ...

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• 2 November

  Expo 2020 Dubai to host Urban, Rural Development Week

  

  Dubai / WAM Leading development experts, technology visionaries and government officials from some of the world’s most populous and resilient cities are set to gather virtually for Expo 2020 Dubai’s Urban and Rural Development Week to discuss the future of smart cities and sustainable habitats. Hosted by Expo 2020 and delivered in collaboration with the United Nations Human Settlements Programme ...

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• 2 November

  Exxon warns of $30b shale writedown

  

  Bloomberg Exxon Mobil Corp warned it may take up to $30 billion in writedowns on natural gas fields acquired more than a decade ago, and reported a third straight quarterly loss. Exxon is confronting one of its biggest crises. If the company takes the full $30 billion impairment, it will be the industry’s worst in more than a decade, according ...

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• 2 November

  Chevron surprises with profit despite dimming outlook

  

  Bloomberg Chevron Corp posted a surprise profit as the oil supermajor slashed capital spending to cope with the pandemic-driven collapse in crude demand. The California oil titan posted adjusted per-share earnings of 11 cents for the third quarter, outperforming the average 27-cent loss expected by analysts in a Bloomberg survey. Times are tough for the industry and Chevron is willing ...

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• 2 November

  Reliance Industries posts 15% profit drop

  

  Bloomberg Reliance Industries Ltd, India’s most valuable company led by billionaire Mukesh Ambani, reported a 15% decline in profit for the quarter through September, as the coronavirus pandemic gutted demand for transportation fuels. Net income fell to 95.7 billion rupees ($1.28 billion) from 112.6 billion rupees a year earlier, the Mumbai-based company said in an exchange filing. That compares with ...

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• 2 November

  Vaccine politics will soon replace election politics

  

  Just before the US election, speculation is rife as to whether a Joe Biden victory might herald a big leftward shift, or what kind of chaos a second term for President Donald Trump would bring. The immediate task for either president, however, is likely to be more mundane and less ideological — and guaranteed to displease most Americans. The issue ...

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• 2 November

  Dunkin’s highly caffeinated deal

  

  Dunkin’ Brands Group Inc just served up one highly caffeinated deal that will give its stock price a jolt. The Canton, Massachusetts-based coffee chain is selling itself to Inspire Brands for $106.50 a share, a 26% premium to its 20-day trading average before talks between the two sides were made public. The deal values Dunkin’ at $11.3 billion including debt, ...

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• 2 November

  UK’s Johnson needs a big lesson in empathy

  In “The Godfather,” the book that inspired a generation of corporate boardroom warriors, Michael Corleone dismisses his trusted friend Tom Hagen as an adviser to his family. “Mike, why am I out?” the mystified Hagen asks. “You’re not a wartime consigliere,” Corleone responds. UK Prime Minister Boris Johnson has the opposite problem. In Dominic Cummings, his chief of staff, he ...

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