Telecom Italia, Italy’s legacy telecoms provider, has a new CEO, veteran business executive Luigi Gubitosi. Its board met Sunday to replace Amos Genish, who was ousted last week after a long-running boardroom battle.
Turkey’s Foreign Ministry has cautioned an international energy company against cooperating with the government of Cyprus in its search for gas. Foreign Ministry spokesman Hami Aksoy said Sunday that the exploratory drilling ExxonMobil has started in the eastern Mediterranean “did not contribute to the region’s stability” and could change “sensitive balances.”
Protesters angry over high fuel prices blocked access to fuel depots and stopped traffic on major roads on Monday after the government refused to back down on fuel taxes after a weekend of demonstrations across France.
Mining giant BHP on Monday settled a long-running tax dispute with Australian authorities for Aus$529 million ($387 million), as the country pursues global firms shifting profits offshore to minimise liabilities.
European governments started to thrash out a plan for close ties with post-Brexit Britain on Monday in the last week before they gather to sign their divorce papers.Ministers from the other 27 EU members met in Brussels at the start of what Prime Minister Theresa May calls “an intense week of negotiations” ahead of Sunday’s summit.
Banks posted record profits in the first quarter ended mid-October despite encountering an acute shortage of loanable funds. Unaudited financial reports of 27 commercial banks show a staggering 45.87 percent growth in profits year-on-year. One bank among the 28 commercial banks in the country is yet to issue its financial report for the first quarter.
A high-level team from the world’s largest international public bank, European Investment Bank (EIB), is arriving in Kathmandu to discuss its support for Nepal’s energy, transport and forestry sectors with political and business leaders.