Painful Decisions on Job Cuts Expected UBS Chief Executive Sergio Ermotti has issued a warning about the likelihood of job cuts following the takeover of Credit Suisse. Speaking at an event in Bern organized by the Asset Management Association Switzerland, Ermotti emphasized that creating immediate job opportunities for everyone would…
Geely, one of China’s major automakers, is planning to enter Thailand’s electric vehicle (EV) market with two models: an entry-level electric car and an electric pickup truck from its new Radar brand, according to sources familiar with the matter. Geely’s entry-level electric car The sources said that Geely is considering…
Health Minister Denies Knowledge of Price Controls The British government is reportedly considering implementing price caps on essential food items like bread and milk as the cost of these necessities continues to rise at double-digit rates. In response to these claims, health minister Steve Barclay stated that it was not…
Mongolia has exported more than 19 million tons of coal since the beginning of this year, with a surge in demand from various countries around the world. From April 28 to May 4 alone, 590,900 tons of coal were exported, which is 60% more than in the same period last year. The country has produced a total of 19,774,700 tons of coal, resulting in a significant increase in coal exports,…
The Democratic Republic of Congo (DRC) has recently initiated discussions with neighbouring Uganda over the possible use of the country’s planned East African Crude Oil Pipeline (EACOP) to export petroleum. This move would enable DRC to transport crude oil to be produced from the oil exploration blocks located in the Albertine Graben. Uganda is currently developing the $3.5 billion, 1,445km EACOP pipeline that will transport crude oil from its oil…
In recent years, Finland has emerged as a leader in the adoption of heat pumps, becoming the European country with the highest number of heat pumps per 1,000 households. As a result of rising heating costs, a focus on sustainability, and an appreciation for quality products, Finnish residents have embraced heat pumps as a way to reduce their carbon footprint and improve energy efficiency. The popularity of heat pumps in…
Equinor, the multinational energy company, announced strong financial results for the first quarter of 2023. The company’s CEO, Anders Opedal, praised the company’s stability and safety as a supplier of energy to Europe, highlighting strategic progress, optimization of the oil and gas portfolio, and targeted exploration activities. Equinor reported a total own production of 2.130 million barrels per day, representing an increase from 2.106 million barrels per day in the same quarter of 2022. The company is proposing a dividend…
Saudi Arabian consumer electronics retailer, United Electronics Company, also known as eXtra, has discontinued its plans to expand into Egypt following a feasibility study, the company announced on Monday. The decision comes with an expected negative financial impact of about SAR 38 million ($10.13 million), which the company disclosed in a bourse statement. In 2021, eXtra had announced plans to establish its first subsidiary outside the Gulf Cooperation Council in Egypt with an initial investment of EGP 1 billion ($32.41…
The ‘Women Plus Bazaar 2023’ exhibition, aimed at empowering Sri Lankan women, was inaugurated by President Ranil Wickremesinghe at the Shangri-La Hotel in Colombo. The event was organised by the Embassy of the Arab Republic of Egypt in Colombo, the Colombo Municipal Council, the Ministry of Women, Child Affairs and Social Empowerment, and the National Crafts Council with more than 200 stalls of local handicraft manufacturers and female entrepreneurs. The President also visited the stalls and engaged in cordial discussions…
Introduction North Korea has strongly criticized the United Nations (UN) and the North Atlantic Treaty Organization (NATO) for their condemnation of the country’s recent spy satellite launch. The North Korean government accused both organizations of interfering in its internal affairs and violating its sovereign rights. The launch of the satellite has been deemed a grave violation of UN Security Council resolutions due to the shared technology between the satellite and ballistic missiles. In response, North Korea has vowed to continue…
Iraq has opened its market to Canadian frozen beef products from calves under 30 months old, following negotiations between the Canadian Food Inspection Agency (CFIA) and Iraqi officials. This development presents an opportunity for the Canadian beef industry to expand its reach and meet the growing demand for high-quality beef products in Iraq. The Canadian beef industry has achieved a significant milestone as it gains access to the Iraqi market for frozen beef products from calves under 30 months old.…
Colombia’s Senate has approved the bill that will ban fracking forbidden all exploratory projects that involve that process to extract natural gas an oil in the country, according to local media. Senators Esmeralda Hernandez and Congressman Inti Asprilla, main proponents of the initiative to ban fracking in Colombia, have highlighted the significance of the vote. They compared it to the approval of the Escazú Agreement, which is an international treaty aimed at promoting environmental democracy in Latin America and the…
Seychelles’ Share of the REEFFISH Project The Seychelles Fishing Authority (SFA) will boost its capacity to carry out surveillance in three designated sites of the REEFFISH project thanks to the Japanese government’s donation of a patrol vessel. The REEFFISH project aims to increase the resilience of fishing communities dependent on coral reef fisheries in the African coastal countries of the Indian Ocean, including Seychelles, Comoros, Kenya, Madagascar, and Mauritius. The project is supported by the Food and Agricultural Organisation (FAO)…
French nuclear company Orano and the government of Niger have announced plans to explore a uranium site in Imouraren, located in the northern Arlit region of the country. The site is believed to contain one of the world’s largest uranium deposits, with an estimated 200,000 tons of reserves. Matthieu Davrinche, director of the Imouraren company, stated that tests would be conducted at the site starting next year, and a decision to mine the uranium deposits would be made at a…
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