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Abandoned power plant a $38 billion warning sign for Indian banks

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NEW DELHI: Deep in the jungles of eastern India lies an abandoned power plant, a warning symbol for the $38 billion of additional bad loans which are about to engulf the country’s banks. Like many of India’s power stations, the Jharkhand project had all the markings of success when a group led by State Bank of India lent about $700 ... Read More »

Philippine president slammed by bishop for calling God ‘stupid’

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MANILA: The Philippine president, notorious for having insulted the pope and former US President Barack Obama, has sparked outrage for calling God “stupid” in Asia’s bastion of Catholicism. Opposition Sen. Antonio Trillanes IV shot back by describing President Rodrigo Duterte as “one evil man” and his remarks as “very much consistent with the deceitfulness, heartlessness and ruthlessness of his policies.” ... Read More »

Airbus And THAI Sign Joint Venture MRO In U-Tapao

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Airbus and Thai Airways International (THAI) have signed an agreement to establish a new joint venture maintenance and overhaul (MRO) facility at U-Tapao International Airport near Bangkok. The accord was signed today at Airbus headquarters in Toulouse by Usanee Sangsingkeo, Acting President, THAI; and Eric Schulz, Chief Commercial Officer, Airbus, in the presence of Prayut Chan-o-cha, Prime Minister of Thailand ... Read More »

Ramaphosa ‘very pro business’ – presidential investment envoy

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Ramaphosa, who has a union background, is often accused by labour of being too pro business, and by business of being too pro labour. President Cyril Ramaphosa is “very pro business, very pro capital” and recognises the importance of this in attracting local and international investment, according to businesswoman Phumzile Langeni. Langeni, who is the executive chairperson of Afropulse, is ... Read More »

€1 Billion Promised To Groningen Gas Mining Area

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Minister Eric Wiebes of Economic Affairs and Climate reached an agreement with Shell and ExxonMobil about gas production in Groningen. The government and NAM will invest at least 1 billion euros into quality of life in the gas mining area. The two oil companies will not claim damages for the gas left un-mined after gas extraction is halted in the ... Read More »

Vietnam rejects Grab expansion request

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Vietnam’s Transport Ministry has ordered GrabTaxi Vietnam Co Ltd to halt a planned expansion; the company will only be permitted to grow within the five localities in their pilot programme. The five localities are Hanoi, HCMCity, Khanh Hoa, Da Nang and Quang Ninh. The move came after the company submitted a request to broaden their business in localities including Ninh ... Read More »

Sailors from Ukrainian vessel seized in Crimea for fishing flatfish refuse to take food

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The sailors from the Ukrainian vessel YaMK -0041 detained off the coast of Crimea have refused to take food, lawyer Edem Semedlyayev said. “The mother of one of the sailors said they are refusing to take food and are in a state of despair from uncertainty,” he said on Facebook on June 24 evening. The sailors are denied meetings with ... Read More »

Why the debt deal with the EU is bad for Greece

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Shortly before coming to power in January 2015, Alexis Tsipras – then still known as an outspoken Greek opposition leader and unconventional anti-austerity firebrand – vowed not to wear a tie until international lenders agreed to cut his country’s towering debt load to sustainable levels. On Friday evening, the 43-year-old prime minister, who has since presided over three years of ... Read More »

Govt to float tender for renewable energy in autumn

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Renewable electricity generation will be opened up to competition in autumn 2018, said an official press release. The Finnish Energy Authority will launch a call for tenders in November/December that will determine which renewable electricity investments will be approved for the new premium scheme. Tenders will be invited for an annual renewable energy production of 1.4 TWh. Tenders may be ... Read More »

JetBlue’s founder wants to turn a 73-year-old airline and its home in Portugal into the next gateway into Europe

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David Neeleman has a long history of success in the airline business. He’s either founded or co-founded four major airlines and is reportedly working on a fifth. You may have heard of a few of Neeleman’s success stories like WestJet, JetBlue, and Azul. Even though Neeleman has long departed WestJet and JetBlue, he is still involved in the day-t0-day operations ... Read More »

Deal done: Louisiana session ends with deep cuts stopped

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After a grueling, monthslong negotiation over how to balance the budget, Louisiana lawmakers on Sunday completed their third special legislative session this year with a deal that will avert hefty cuts to public colleges, tuition aid and most public safety programs. Senators gave final passage Sunday afternoon to a sales tax renewal bill that will raise $463 million for the ... Read More »

Trial of doctor, 85, puts Spain in dock over ‘stolen babies’

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An 85-year-old doctor accused of abducting a newborn girl from her mother almost half a century ago will appear in court in Madrid this week, becoming the first person to stand trial over Spain’s long and infamous . Thousands of families are thought to have been caught up in the illegal practice, which began shortly after the end of the ... Read More »

New US ambassador arrives in Hungary

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The new Ambassador of the United States to Hungary arrived in Budapest. He has been greeted on behalf of the Hungarian government by Secretary of State for Foreign Affairs Levente Magyar. The new ambassador, David Cornstein and his wife, Sheila were also greeted at Liszt Ferenc Airport by the chargé dʼaffairs of the embassy, David Kostelancik, and other staff, online ... Read More »

Eor To Contribute For 23% Of Pdo’s Total Oil Output By 2025

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MUSCAT Enhanced oil recovery (EOR), a process used to extract crude from ageing oil fields, could account for nearly a quarter of the overall production of Petroleum Development Oman (PDO) in next seven years. EOR currently accounts for around ten per cent of PDO’s total production. Many of Oman’s oil fields are ageing and that could mean decline in production ... Read More »

China, Nepal to build Tibet-Kathmandu rail link: Reports

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BEIJING: China and Nepal have agreed to build a railway connecting Tibet with Kathmandu, among a raft of deals signed during the Nepali prime minister’s visit to Beijing. Nepal is seeking closer ties and much-needed energy and infrastructure investment from China, which has flexed greater economic and diplomatic muscle in its Himalayan neighbour in recent years. Beijing’s growing presence has ... Read More »

UAE, Kuwait most vulnerable for cyberattacks in the Gulf

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Dubai: The UAE and Kuwait are among the most vulnerable for cyberattacks among the Gulf Cooperation Council Council countries in the first quarter, according to a report by cybersecurity firm Trend Micro. Both these countries are rated first and second in ransomware and malware attacks, URL victims and URLs detected. The UAE accounted for 2.4 million of the 1.7 billion ... Read More »

Conference to help Qatar companies with business continuity, resilience steps

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Companies in Qatar stand to gain from a one-day conference slated later in the year that would focus on integrating capacity building in the country’s business continuity and resilience (BC&R) sector, it was announced yesterday. The ‘2nd Business Continuity & Resilience Conference’ will kick-off on November 19 in Doha, Qatar Business Continuity Forum chairman and conference president Abdullatif Ali al-Yafei ... Read More »

Prince William Welcomed to Jordan by Crown Prince Hussein, For Start of Middle East Visit

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Prince William has arrived in Jordan for the start of a trip that will see him become the first member of Britain’s royal family to pay an official visit to both Israel and the Palestinian territories. The 36-year-old Duke of Cambridge touched down in Amman for a first leg billed as a chance to bond with Jordan’s Crown Prince Hussein ... Read More »

Iraq’s only Kurdish airline takes off with Europe flight

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Iraq — Iraq’s only Kurdish airline launched on Monday with a flight to Sweden, after years of delays because of the offensive by the terror group Daesh in the country. Officials hope Fly Erbil’s take-off is a sign of changing fortunes in the autonomous region, which has suffered from the militants onslaught and a failed independence bid. Daesh delayed our ... Read More »

Regional cooperation can leverage Afghanistan’s development and stability

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The dynamics of regional cooperation has a wider role to play for peace, development and cooperation in the world especially in the context of South Asia. Intra-regional cooperation creates catalytic impact in addressing the recent challenges of poverty, development and terrorism. Regional cooperation involves policy coordination through formal institutions for the welfare and to achieve collective vision for the development ... Read More »