After reporting a doubling of earnings in 2021, Saudi Aramco, the state-owned oil behemoth of Saudi Arabia, expects to significantly increase its investment in energy production. Over the next five years, the company wants to considerably increase output. Demand for oil and gas has outstripped supply in recent months, driving up energy costs. The crisis…
As China battles its greatest Covid-19 epidemic since the pandemic began, consumption is expected to be the hardest hurt, while producers find methods to keep producing. Mainland China reported a drop in new confirmed cases for the second day in a row on Wednesday. According to National Health Commission data, the 1,226 new locally transmitted…
As businesses around the world struggle to figure out how to manage their environmental footprints, Normative, a Swedish start-up sponsored by Google, has released a free version of its carbon emissions tracker. The carbon calculator is intended to give a “baseline” from which small and medium-sized organisations can take action after entering data into a…
There was a 20 per cent fall in the sales in the first two weeks of March, according to the owner of KFC and Pizza Hut, as a wave of new Covid-19 outbreaks emerge from more p[laces across China. Yum China warned that “the situation has drastically deteriorated,” citing regional lockdowns as a means of containing the outbreak. More…
According to the World Bank, a number of developing economies are facing wheat supply for the near term as a result of their reliance on Ukrainian wheat exports, which have been hampered by Russia’s invasion of the country. Gambia, Lebanon, Moldova, Djibouti, Libya, Tunisia, and Pakistan, according to the World Bank’s latest Trade Watch report, are the…
On Wednesday, China signalled its support for Chinese companies, following days of fears that the United States will delist them, sending stock prices in New York and Hong Kong down. Chinese and American regulators are working on a strategy to cooperate on Chinese equities listed in the United States, according to state media, citing a…
After a “strong start” to 2022, Italian luxury fashion brand Prada maintained its growth targets for the medium term , while the luxury firm also acknowledged that the situation in Ukraine would make any projections questionable. Following the European Union and many other nations imposing tough economic sanctions on Russia in reaction to Moscow’s invasion of Ukraine, Prada…
Ford announced plans for seven new models for its electric vehicles that it will launch in Europe on Monday, as well as a battery assembly plant in Germany and a nickel cell manufacturing joint venture in Turkey, as part of a big EV push by it targeting the continent. “Our march toward an all-electric future is an…
Chinese ride hailing company Didi’s stock dropped 44 per cent on Friday, the most in a single day since the Chinese ride-hailing business went public in the United States in June. The stock is currently trading at 87 per cent of its IPO price, putting its two largest owners, SoftBank and Uber, at risk of…
Sports equipment maker Adidas has managed to secure a sponsorship contract with the Italian national soccer team for the outfit of the European champions starting next year as the company replaced local competitor Puma as for the contract, Adidas said on Wednesday. According to reports quoting sources with knowledge of the matter, the new sponsorship…
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