Shares of Chinese drugmakers and face mask firms jump as pneumonia concerns mount

Shares of Chinese drugmakers and face mask-makers surged on Monday amid rising concerns over an outbreak a new strain of coronavirus that’s spreading to more cities in the country. Jiangsu Sihuan Bioengineering, Shandong Lukang Pharmaceutical and Shenzhen Neptunus Bioengineering all saw their stocks surge by about 10%, their daily limit. Meanwhile, shares of face mask firms also got a boost, with Tianjin Teda soaring 9.89% while Shanghai Dragon surged about 10%. The stocks moves came after autho


Shares of Chinese drugmakers and face mask-makers surged on Monday amid rising concerns over an outbreak a new strain of coronavirus that’s spreading to more cities in the country.
Jiangsu Sihuan Bioengineering, Shandong Lukang Pharmaceutical and Shenzhen Neptunus Bioengineering all saw their stocks surge by about 10%, their daily limit.
Meanwhile, shares of face mask firms also got a boost, with Tianjin Teda soaring 9.89% while Shanghai Dragon surged about 10%.
The stocks moves came after autho
Shares of Chinese drugmakers and face mask firms jump as pneumonia concerns mount Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: eustance huang
Keywords: news, cnbc, companies, surged, firms, concerns, face, chinese, reported, syndrome, jump, shares, pneumonia, cases, thats, mask, disease, drugmakers, mount, coronavirus, wuhan, health, transmission


Shares of Chinese drugmakers and face mask firms jump as pneumonia concerns mount

An elderly man wears a mask while walking past the closed Huanan Seafood Wholesale Market, which has been linked to cases of Coronavirus, on January 17, 2020 in Wuhan, Hubei province, China.

Shares of Chinese drugmakers and face mask-makers surged on Monday amid rising concerns over an outbreak a new strain of coronavirus that’s spreading to more cities in the country.

Jiangsu Sihuan Bioengineering, Shandong Lukang Pharmaceutical and Shenzhen Neptunus Bioengineering all saw their stocks surge by about 10%, their daily limit.

Meanwhile, shares of face mask firms also got a boost, with Tianjin Teda soaring 9.89% while Shanghai Dragon surged about 10%.

The stocks moves came after authorities in China reported on Monday that 139 new cases of coronavirus had been discovered over the weekend, Reuters reported. Three of the new cases had come from places outside the city of Wuhan, where the virus was first reported.

For its part, China’s National Health Commission said in a release on Sunday that experts have deemed the current situation “still preventable and controllable,” according to CNBC’s translation of the original Chinese text.

“What has been evident by the most recent statistics that have come out overnight … is that it is highly likely that we have this human-to-human transmission occurring,” Alexandra Phelan, faculty instructor at the Center for Global Health Science and Security at Georgetown University.

“We’re now starting to get a sense that perhaps given the scale we might have more sustained or less-clustered, more efficient human-to-human transmission — and that’s really what we’re looking out for because that is what tells us whether a disease is going to spread more rapidly between people,” Phelan told CNBC’s “Street Signs” on Thursday.

According to the World Health Organization, coronaviruses are a large family of viruses that could cause less-severe diseases such as the common cold, while other could lead to more severe disease such as the Middle East respiratory syndrome and Severe Acute Respiratory Syndrome (SARS).

The SARS outbreak in 2002/2003 resulted in around 800 deaths, with majority of them coming from China and Hong Kong, according to WHO data on the cumulative number of reported probable cases of the disease.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: eustance huang
Keywords: news, cnbc, companies, surged, firms, concerns, face, chinese, reported, syndrome, jump, shares, pneumonia, cases, thats, mask, disease, drugmakers, mount, coronavirus, wuhan, health, transmission


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Sterling slips as businesses fret over hard Brexit warnings from UK finance minister

Sterling dipped sharply against all of its main trading peers on Monday, as traders reacted to weekend Brexit comments from U.K. Finance Minister Sajid Javid. As markets woke Monday, sterling slipped by around 0.2% versus the greenback and 0.3% versus the euro. “With so many longs, and unemployment data tomorrow and PMI (purchasing managers’ index) on Friday, sterling remains on the back foot, sterling is vulnerable,” said Juckes. The largest body representing the interests of U.K. businesses is


Sterling dipped sharply against all of its main trading peers on Monday, as traders reacted to weekend Brexit comments from U.K. Finance Minister Sajid Javid.
As markets woke Monday, sterling slipped by around 0.2% versus the greenback and 0.3% versus the euro.
“With so many longs, and unemployment data tomorrow and PMI (purchasing managers’ index) on Friday, sterling remains on the back foot, sterling is vulnerable,” said Juckes.
The largest body representing the interests of U.K. businesses is
Sterling slips as businesses fret over hard Brexit warnings from UK finance minister Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: david reid
Keywords: news, cnbc, companies, trading, warnings, alignment, walker, finance, traders, bcc, minister, hard, fret, versus, sterling, brexit, businesses, slips


Sterling slips as businesses fret over hard Brexit warnings from UK finance minister

Chancellor of the Exchequer Sajid Javid leaves 10 Downing Street in central London after attending the weekly Cabinet meeting on 29 October, 2019 in London, England.

Sterling dipped sharply against all of its main trading peers on Monday, as traders reacted to weekend Brexit comments from U.K. Finance Minister Sajid Javid.

In an interview with the Financial Times published on Friday, the chancellor warned U.K. businesses that the government would remain committed to as hard a Brexit as possible and that it would not seek regulatory alignment with Brussels.

“There will not be alignment, we will not be a rule-taker, we will not be in the single market and we will not be in the customs union — and we will do this by the end of the year,” Javid said.

As markets woke Monday, sterling slipped by around 0.2% versus the greenback and 0.3% versus the euro. The pound has been losing value of late as poor economic data has taken the shine off the strong Conservative Party election win in December.

In a note Monday, Societe Generale’s Kit Juckes said many traders were still backing the pound, despite also pricing in a 70% chance that the Bank of England will cut rates later this month.

“With so many longs, and unemployment data tomorrow and PMI (purchasing managers’ index) on Friday, sterling remains on the back foot, sterling is vulnerable,” said Juckes.

The U.K. will leave the EU by the end of January where it will enter a transition period during which a new trading relationship with the EU will be settled.

The largest body representing the interests of U.K. businesses is the British Chambers of Commerce (BCC). Following Javid’s comment that there will be no regulatory alignment with the EU after Brexit, BCC co-Executive Director Claire Walker said the government must be careful not to drive employers away from Britain.

“Our business communities have differing views but are prepared to be pragmatic about coming changes to regulation. Uncertainty around the extent of divergence risks firms moving their production elsewhere,” said Walker in a statement Saturday.

The BCC is also calling on the government to provide additional support to help firms adapt to new rules.

The auto industry is a big employer in the U.K. but heavily dependent on the smooth transport of parts and completed cars between the EU mainland and the U.K.

In an email to CNBC Monday, the chief executive of the Society of Motor Manufacturers and Traders (SMMT), Mike Hawes, said that additional regulations could “add billions” to the cost of developing cars in Britain for sale in Europe.

“It is important, therefore, that we have early sight of the details of the government’s ambitions so we can evaluate any impact on our competitiveness and the future of volume manufacturing in the U.K.,” he added.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: david reid
Keywords: news, cnbc, companies, trading, warnings, alignment, walker, finance, traders, bcc, minister, hard, fret, versus, sterling, brexit, businesses, slips


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The world’s 2,153 billionaires have more wealth than 4.6 billion people combined, Oxfam says

The world’s 2,153 billionaires have more wealth between them than a combined 4.6 billion people, new research has claimed. In a study published Monday, international charity Oxfam called on governments to implement policies that may help to reduce wealth inequality. Amazon founder Jeff Bezos is currently the richest person in the world, according to Forbes, with a net worth of around $116.4 billion. The second wealthiest person on the planet is Bernard Arnault, a French billionaire who owns luxu


The world’s 2,153 billionaires have more wealth between them than a combined 4.6 billion people, new research has claimed.
In a study published Monday, international charity Oxfam called on governments to implement policies that may help to reduce wealth inequality.
Amazon founder Jeff Bezos is currently the richest person in the world, according to Forbes, with a net worth of around $116.4 billion.
The second wealthiest person on the planet is Bernard Arnault, a French billionaire who owns luxu
The world’s 2,153 billionaires have more wealth than 4.6 billion people combined, Oxfam says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: chloe taylor
Keywords: news, cnbc, companies, worlds, world, report, net, worth, richest, wealth, billion, combined, oxfam, sitting, person, billionaires, 2153


The world's 2,153 billionaires have more wealth than 4.6 billion people combined, Oxfam says

The world’s 2,153 billionaires have more wealth between them than a combined 4.6 billion people, new research has claimed.

In a study published Monday, international charity Oxfam called on governments to implement policies that may help to reduce wealth inequality.

The report comes as delegates gather in Davos, Switzerland, for the annual World Economic Forum conference.

“If everyone were to sit on their wealth piled up in $100 bills, most of humanity would be sitting on the floor,” its authors said.

“A middle-class person in a rich country would be sitting at the height of a chair. The world’s two richest men would be sitting in outer space.”

Amazon founder Jeff Bezos is currently the richest person in the world, according to Forbes, with a net worth of around $116.4 billion. The second wealthiest person on the planet is Bernard Arnault, a French billionaire who owns luxury goods group LVMH and has a net worth of $116 billion.

Oxfam’s report noted that someone who saved $10,000 a day since the construction of the Egyptian pyramids would still be 80% less wealthy than the world’s five richest billionaires.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: chloe taylor
Keywords: news, cnbc, companies, worlds, world, report, net, worth, richest, wealth, billion, combined, oxfam, sitting, person, billionaires, 2153


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‘How can he face himself?’: Architect of Paris Agreement slams Trump’s approach to climate crisis

Christiana Figueres, Founding Partner, Global Optimism, on Centre Stage during day two of Web Summit 2019 at the Altice Arena in Lisbon, Portugal. DAVOS, Switzerland — The architect of the landmark 2015 Paris Agreement told CNBC on Monday that it cannot be easy for President Donald Trump to justify his approach to the climate crisis — both to himself and citizens of the world. How can he face citizens of the United States and of the world? Figueres’ comments come as policymakers and business lea


Christiana Figueres, Founding Partner, Global Optimism, on Centre Stage during day two of Web Summit 2019 at the Altice Arena in Lisbon, Portugal.
DAVOS, Switzerland — The architect of the landmark 2015 Paris Agreement told CNBC on Monday that it cannot be easy for President Donald Trump to justify his approach to the climate crisis — both to himself and citizens of the world.
How can he face citizens of the United States and of the world?
Figueres’ comments come as policymakers and business lea
‘How can he face himself?’: Architect of Paris Agreement slams Trump’s approach to climate crisis Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: sam meredith
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'How can he face himself?': Architect of Paris Agreement slams Trump's approach to climate crisis

Christiana Figueres, Founding Partner, Global Optimism, on Centre Stage during day two of Web Summit 2019 at the Altice Arena in Lisbon, Portugal.

DAVOS, Switzerland — The architect of the landmark 2015 Paris Agreement told CNBC on Monday that it cannot be easy for President Donald Trump to justify his approach to the climate crisis — both to himself and citizens of the world.

Speaking on the sidelines of the World Economic Forum (WEF) in the Swiss Alpine town of Davos, Christiana Figures, former United Nations Framework Convention on Climate Change (UNFCC) said Monday: “I always wonder: How can he face himself?”

“How can he face his children and his grandchildren? How can he face citizens of the United States and of the world? I don’t understand how he can do that.”

Figueres’ comments come as policymakers and business leaders arrive in Switzerland for the WEF’s four-day annual conference, with those in attendance scheduled to focus on the intensifying climate crisis.

The event, which is often criticized for being out of touch with the real world, has said it aims to assist governments and international institutions in tracking progress toward the Paris Agreement and the UN’s Sustainable Development Goals.

It follows the hottest year on record for the world’s oceans, the second-hottest year for global average temperatures and wildfires from the U.S. to the Amazon to Australia.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: sam meredith
Keywords: news, cnbc, companies, architect, global, crisis, christiana, united, trumps, citizens, slams, climate, world, face, approach, paris, switzerland, agreement


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There’s a 50% chance the US-China ‘phase one’ deal could fall apart in one year

There’s a 50% chance the U.S.-China “phase one” trade deal could survive its first year — but that probability falls to 25% in the second year, a business consultant said on Monday. Richard Martin, managing director at management consulting firm IMA Asia, said there are two reasons why the agreement could fall apart within those time frames: Limited success stories of government-mandated trade in the past, and provisions that allow the U.S. and China to walk away from their deal. “There’s a very


There’s a 50% chance the U.S.-China “phase one” trade deal could survive its first year — but that probability falls to 25% in the second year, a business consultant said on Monday.
Richard Martin, managing director at management consulting firm IMA Asia, said there are two reasons why the agreement could fall apart within those time frames: Limited success stories of government-mandated trade in the past, and provisions that allow the U.S. and China to walk away from their deal.
“There’s a very
There’s a 50% chance the US-China ‘phase one’ deal could fall apart in one year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: yen nee lee
Keywords: news, cnbc, companies, chance, phase, trade, agreement, uschina, theres, thats, apart, fall, chinas, away, china, deal, walk, governmentmandated


There's a 50% chance the US-China 'phase one' deal could fall apart in one year

President Donald Trump, and Chinas Vice Premier Liu He(L), the countrys top trade negotiator, shake hands after signing trade agreements between the US and China during a ceremony in the East Room of the White House in Washington, DC on January 15, 2020.

There’s a 50% chance the U.S.-China “phase one” trade deal could survive its first year — but that probability falls to 25% in the second year, a business consultant said on Monday.

Richard Martin, managing director at management consulting firm IMA Asia, said there are two reasons why the agreement could fall apart within those time frames: Limited success stories of government-mandated trade in the past, and provisions that allow the U.S. and China to walk away from their deal.

“There’s a very poor track record on government-mandated trade flows working out and that’s what we got right now,” he told CNBC’s “Squawk Box Asia.”

“We don’t like governments to go out and say this is the volume of trade and this is the price point we want done at — that’s meant to be said at the markets,” he said.

Martin added that if there are disputes between the two sides, the deal allows the U.S. Trade Representative, currently Robert Lighthizer, to “pretty much determine when China’s breaking the rules and inflict any penalty he wants.” In return, China could walk away from the agreement, he explained.

“So that’s not a very robust adjudication process. It says that if there’s a problem, it could well end in the phase one package being dead,” he said.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: yen nee lee
Keywords: news, cnbc, companies, chance, phase, trade, agreement, uschina, theres, thats, apart, fall, chinas, away, china, deal, walk, governmentmandated


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Bloomberg says he’d vote to convict Trump if he were a senator

Former New York City Mayor Michael Bloomberg would vote to convict President Donald Trump if he were a senator, he told Craig Melvin in an exclusive interview that aired on NBC’s “TODAY Show” Monday. “I’d have to swallow two or three times, but I would say I would vote to convict because there’s so much evidence that he acted inappropriately,” said Bloomberg, who’s running for the Democratic nomination. Bloomberg and Trump both hail from New York and have long known each other. On Friday, the pr


Former New York City Mayor Michael Bloomberg would vote to convict President Donald Trump if he were a senator, he told Craig Melvin in an exclusive interview that aired on NBC’s “TODAY Show” Monday.
“I’d have to swallow two or three times, but I would say I would vote to convict because there’s so much evidence that he acted inappropriately,” said Bloomberg, who’s running for the Democratic nomination.
Bloomberg and Trump both hail from New York and have long known each other.
On Friday, the pr
Bloomberg says he’d vote to convict Trump if he were a senator Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: rachel elbaum
Keywords: news, cnbc, companies, vote, states, bloomberg, convict, staffers, theres, race, nomination, trump, hed, democratic, york, president, senator


Bloomberg says he'd vote to convict Trump if he were a senator

Former New York City Mayor Michael Bloomberg would vote to convict President Donald Trump if he were a senator, he told Craig Melvin in an exclusive interview that aired on NBC’s “TODAY Show” Monday.

“I’d have to swallow two or three times, but I would say I would vote to convict because there’s so much evidence that he acted inappropriately,” said Bloomberg, who’s running for the Democratic nomination.

However, Bloomberg called the impeachment process “not good,” and said that the country would be “much better off letting the voters decide who is president.”

Trump’s impeachment trial in the Senate starts Tuesday afternoon and his defense team is expected to include Ken Starr, the prosecutor whose investigation two decades ago led to the impeachment of President Bill Clinton, along with former Harvard law professor Alan Dershowitz, to his defense team.

Bloomberg and Trump both hail from New York and have long known each other. On Friday, the president criticized Bloomberg on Twitter, mocking his refusal to participate in the Democratic presidential debates.

Bloomberg spoke with NBC News during a campaign stop in Tulsa, Oklahoma, where he made a pitch to African American voters on Sunday, speaking about race-based economic inequality. He outlined a proposal aimed at increasing the number of black-owned homes and businesses, including a $70 billion investment in the nation’s most disadvantaged neighborhoods.

Bloomberg has been criticized for the stop-and-frisk policy he supported as mayor where New York City police officers made it a routine practice to stop and search multitudes of mostly black and Hispanic men to see if they were carrying weapons. He apologized for it in November, saying he got it wrong.

“When we did it, it got out of control. When I noticed it, we did a little test of seeing what happens if you stopped it. Everyone said crime would go up. It didn’t, so I said lets get rid of it,” he said in the interview.

“When I left office, 95 percent of it was gone, and I wished I had apologized earlier. Plain and simple,” he added.

The New York billionaire, who built his fortune through the financial information company he founded, only entered the race for the party’s nomination in November — a choice he made after looking at the other Democratic nominees.

“I looked, and I didn’t think any of them could beat Donald Trump. Some, in fact, would almost guarantee his re-election,” he said of the other Democratic nominees, though he declined to name specific contenders.

Spelling out why he feels Trump is so dangerous, Bloomberg said that his impetuous style was hazardous for the country.

“It’s his process and lack of inclusiveness and getting advice from people. I always joke there’s no ‘I’ in the word team. The way Donald spells it, there’s no T, E, A or M, and that’s not the way to accomplish things,” he said.

Bloomberg’s late entry into the nomination race meant that it was too late to build organizations in Iowa and New Hampshire and the other early states, he said. In the weeks since his entry, he has built a sizable campaign operation, with many hundreds of staffers in dozens of states. The first test of Bloomberg’s electoral strength will be on Super Tuesday on March 3.

If he loses the nomination, that army of staffers would go on to help the eventual nominee, he has said.

Since entering the race in November, Bloomberg has hired more than 800 staffers, including 500 field organizers and staff in more than 30 states and another 300 staffers in his campaign’s New York headquarters.

He’s already unleashed more than $100 million on advertising and is on track to have a dozen offices in Ohio, nine in Michigan and 17 in Florida, his campaign has said.

— The Associated Press contributed to this report


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: rachel elbaum
Keywords: news, cnbc, companies, vote, states, bloomberg, convict, staffers, theres, race, nomination, trump, hed, democratic, york, president, senator


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Snipers, security guards and soldiers: Keeping the elite safe at Davos is not cheap

FABRICE COFFRINIThe annual World Economic Forum (WEF) is about to kick off in Davos and with heads of state and global business leaders gathering at the event, keeping attendants safe is a top priority. In previous years, the army has incurred costs of around 32 million Swiss francs per annual meeting. “Overall, the cost of deploying troops at the WEF Annual Meeting is much the same as that incurred by the same battalions when on regular training. In previous years, the deployment of the armed f


FABRICE COFFRINIThe annual World Economic Forum (WEF) is about to kick off in Davos and with heads of state and global business leaders gathering at the event, keeping attendants safe is a top priority.
In previous years, the army has incurred costs of around 32 million Swiss francs per annual meeting.
“Overall, the cost of deploying troops at the WEF Annual Meeting is much the same as that incurred by the same battalions when on regular training.
In previous years, the deployment of the armed f
Snipers, security guards and soldiers: Keeping the elite safe at Davos is not cheap Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: holly ellyatt
Keywords: news, cnbc, companies, security, elite, keeping, swiss, costs, forum, davos, safe, francs, guards, annual, meeting, cheap, snipers, wef, soldiers, million


Snipers, security guards and soldiers: Keeping the elite safe at Davos is not cheap

A police sniper secures a roof next to the Congress Centre on the eve of the opening day of the World Economic Forum, on January 16, 2017 in Davos. FABRICE COFFRINI

The annual World Economic Forum (WEF) is about to kick off in Davos and with heads of state and global business leaders gathering at the event, keeping attendants safe is a top priority. President Donald Trump, the European Central Bank President Christine Lagarde, the new managing director of the International Monetary Fund Kristalina Georgieva, German Chancellor Angela Merkel and climate activist Greta Thunberg are just a few of the high-profile names (there are 3,000 attendants) at the summit in the Swiss Alps that runs from January 21 to 24. With many people watching the event to see if the world’s elite can agree on how to improve “the state of the world,” Switzerland and WEF bear a huge burden of responsibility to ensure attendants are kept safe — and that they are seen to be kept safe too. As such, security is both conspicuous and discreet in Davos. Soldiers patrol the streets of the small ski-orientated town and security checks are carried out on personnel, vehicle and bags on access roads into the area. Snipers can be seen stationed on the roofs of buildings; security is obviously extremely tight within the main Forum too, known as the Congress Center. The Forum is held in the Swiss state of Graubünden — the Canton of Grisons — and the regional government is in charge of security rather than the country’s Ministry of Defense, although the local authority can ask for help from police teams outside the state as well as from the Swiss armed forces, which do attend the event.

A sniper of Swiss police stands on top of the Congress Center on January 25, 2011 in Davos. JOHANNES EISELE

Security costs

The Canton of Grisons has published security information and costs for 2020 and says that the additional costs for the security of the WEF Annual Meeting 2020 are expected to total around 9 million Swiss francs ($9.35 million). A quarter of those costs are borne by WEF (around 2.25 million Swiss francs), another quarter by the Canton of Grisons, the Davos municipality pays an eighth of the costs and federal government around a third (around 3.3 million Swiss francs). In previous years, the army has incurred costs of around 32 million Swiss francs per annual meeting. WEF notes that, overall, the deployment of the armed forces to support the event is funded through the Swiss defense department’s budget. Switzerland’s Parliament authorized the deployment of up to 5,000 armed forces personnel in 2019-2021 for “civil support duties.” “Overall, the cost of deploying troops at the WEF Annual Meeting is much the same as that incurred by the same battalions when on regular training. In previous years, the deployment of the armed forces has cost around 32 million Swiss francs per meeting,” WEF notes.

The threat of potential terrorist attacks at an event like the Forum is at the forefront of authorities’ minds too and security restrictions are in place over the airspace of Davos to safeguard air sovereignty. The Swiss government states that “the terrorist threat in many European countries remains elevated or high” and that the “spate of attacks in Europe and their considerable media impact may also incite radicalised persons in Switzerland to carry out terrorist violence.” “The security authorities at federal and cantonal level continuously assess the situation and take appropriate measures where necessary. Robust security precautions with a high, visible police presence, intensive reconnaissance and police checks is necessary in 2020 to ensure that the WEF Annual Meeting passes off safely.”

Unforeseen events

Security costs can change, of course, especially if there is the participation of an extraordinarily large number people who are designated as “internationally protected people” or significant increase in accommodation costs for non-cantonal security staff. Or there is an unforeseen expansion of the security zone in Davos due to the number of protective persons or even due to meteorological reasons, in that case the Swiss government will provide extra funds.

Armed security personnel stand guard on the rooftop of a hotel in Davos, Switzerland. Fabrice Coffrini | AFP | Getty Images


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: holly ellyatt
Keywords: news, cnbc, companies, security, elite, keeping, swiss, costs, forum, davos, safe, francs, guards, annual, meeting, cheap, snipers, wef, soldiers, million


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IMF hoping for a ‘more comprehensive’ US-China deal as the months go by

DAVOS, Switzerland — The International Monetary Fund (IMF) is hoping that China and the United States will reach a broader trade agreement in the coming months, despite the recent signing of their “phase one” deal. “While we have had positive news with the U.S.-China ‘phase one’ trade deal, there’s obviously a lot more that still needs to be done,” Gita Gopinath, the IMF’s chief economist, told CNBC Monday. “We would hope there would be a more comprehensive deal between the U.S. and China as the


DAVOS, Switzerland — The International Monetary Fund (IMF) is hoping that China and the United States will reach a broader trade agreement in the coming months, despite the recent signing of their “phase one” deal.
“While we have had positive news with the U.S.-China ‘phase one’ trade deal, there’s obviously a lot more that still needs to be done,” Gita Gopinath, the IMF’s chief economist, told CNBC Monday.
“We would hope there would be a more comprehensive deal between the U.S. and China as the
IMF hoping for a ‘more comprehensive’ US-China deal as the months go by Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: silvia amaro
Keywords: news, cnbc, companies, deal, months, trade, growth, phase, gopinath, imf, hoping, comprehensive, davos, uschina, economic, china


IMF hoping for a 'more comprehensive' US-China deal as the months go by

DAVOS, Switzerland — The International Monetary Fund (IMF) is hoping that China and the United States will reach a broader trade agreement in the coming months, despite the recent signing of their “phase one” deal.

The two largest economies in the world agreed to roll back some of their existing trade tariffs last week in what was dubbed as a “phase one” deal. The agreement also envisaged higher Chinese purchases of U.S. agricultural goods and it was seen as a temporary truce in a two-year-long dispute between Washington, D.C., and Beijing. However, the IMF is expecting more from both nations.

“While we have had positive news with the U.S.-China ‘phase one’ trade deal, there’s obviously a lot more that still needs to be done,” Gita Gopinath, the IMF’s chief economist, told CNBC Monday.

“We would hope there would be a more comprehensive deal between the U.S. and China as the months go by,” Gopinath also told CNBC at the World Economic Forum in Davos, Switzerland.

In its latest economic update, released Monday, the IMF trimmed its global growth forecasts. The Fund now expects a global growth rate of 3.3% for 2020. In the report, the IMF also warned that trade tensions and disruptions could return.

The signing of the deal is expected to boost the Chinese economy slightly. The IMF upped its growth forecast for China by 0.2 percentage points for 2020 to 6%.

“However, unresolved disputes on broader U.S.-China economic relations, as well as needed domestic financial regulatory strengthening, are expected to continue weighing on activity,” the IMF said Monday.

Speaking to CNBC at Davos, Gopinath added that “trade tensions and disruptions is something that we put out there as an important risk.”


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: silvia amaro
Keywords: news, cnbc, companies, deal, months, trade, growth, phase, gopinath, imf, hoping, comprehensive, davos, uschina, economic, china


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Dubai start-up Cafu expands to Oman in regional growth push

DUBAI, United Arab Emirates — Dubai-based start-up Cafu is expanding its fuel-delivery operations to Oman, marking its first international market entry since it began services in November 2018. “We are humbled to be able to take our homegrown innovative services from Dubai to the world, starting today with Oman,” Cafu Founder and CEO, Rashid Al Ghurair, said Sunday. Cafu uses a mobile app and a fleet of custom-built fuel trucks equipped with internet of things technology, RFID readers and artifi


DUBAI, United Arab Emirates — Dubai-based start-up Cafu is expanding its fuel-delivery operations to Oman, marking its first international market entry since it began services in November 2018.
“We are humbled to be able to take our homegrown innovative services from Dubai to the world, starting today with Oman,” Cafu Founder and CEO, Rashid Al Ghurair, said Sunday.
Cafu uses a mobile app and a fleet of custom-built fuel trucks equipped with internet of things technology, RFID readers and artifi
Dubai start-up Cafu expands to Oman in regional growth push Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: dan murphy
Keywords: news, cnbc, companies, technology, ghurair, growth, regional, push, dubai, fleet, oman, services, international, trucks, expands, startup, united, cafu


Dubai start-up Cafu expands to Oman in regional growth push

DUBAI, United Arab Emirates — Dubai-based start-up Cafu is expanding its fuel-delivery operations to Oman, marking its first international market entry since it began services in November 2018.

“We are humbled to be able to take our homegrown innovative services from Dubai to the world, starting today with Oman,” Cafu Founder and CEO, Rashid Al Ghurair, said Sunday.

Cafu uses a mobile app and a fleet of custom-built fuel trucks equipped with internet of things technology, RFID readers and artificial intelligence cameras. Users provide their car location so fuel can be delivered anywhere at any time.

“Along with our partners, we are confident that our technology combined with our growing fleet of safety-tested and certified trucks will deliver a one-of-a-kind convenience for our customers in Oman,” Al Ghurair added.

Cafu currently runs a fleet of more than 80 trucks in Dubai, Sharjah and Ajman in the United Arab Emirates. To begin its international expansion, it has signed a joint agreement with Oman-based Al Maha Petroleum, which operates a network of more than 225 service stations across the country.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: dan murphy
Keywords: news, cnbc, companies, technology, ghurair, growth, regional, push, dubai, fleet, oman, services, international, trucks, expands, startup, united, cafu


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Wind energy powerhouse Vestas announces plans for ‘zero-waste’ turbines

This image shows Vestas’ V90-3MW wind turbines being used at the Kentish Flats Windfarm in England. Danish firm Vestas said Monday that it was aiming to produce “zero-waste” wind turbines by the year 2040. “Wind energy will continue to grow rapidly, therefore the time for a conservative approach is behind us,” he added. Vestas’ aim for zero-waste wind turbines points to a significant challenge faced by the industry. Wind energy is just one of many industries aiming to reduce waste and mitigate e


This image shows Vestas’ V90-3MW wind turbines being used at the Kentish Flats Windfarm in England.
Danish firm Vestas said Monday that it was aiming to produce “zero-waste” wind turbines by the year 2040.
“Wind energy will continue to grow rapidly, therefore the time for a conservative approach is behind us,” he added.
Vestas’ aim for zero-waste wind turbines points to a significant challenge faced by the industry.
Wind energy is just one of many industries aiming to reduce waste and mitigate e
Wind energy powerhouse Vestas announces plans for ‘zero-waste’ turbines Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: anmar frangoul
Keywords: news, cnbc, companies, plastic, zerowaste, plans, turbines, produced, value, wind, announces, firm, powerhouse, blades, energy, waste, vestas


Wind energy powerhouse Vestas announces plans for 'zero-waste' turbines

This image shows Vestas’ V90-3MW wind turbines being used at the Kentish Flats Windfarm in England.

Danish firm Vestas said Monday that it was aiming to produce “zero-waste” wind turbines by the year 2040.

The wind turbine manufacturer explained that its goal would mean operating a value chain that produced no waste materials.

This, it added in a statement, would be achieved through the introduction of a “circular economy approach” in the design, production, service and end-of-life parts of the value chain.

The Aarhaus-headquartered firm added that it would present its new waste-management strategy in the next two years.

“As the world’s largest supplier of wind energy, Vestas has a responsibility to eliminate waste across its value chain,” Tommy Rahbek Nielsen, who is interim chief operations officer at Vestas, said in a statement.

“Wind energy will continue to grow rapidly, therefore the time for a conservative approach is behind us,” he added.

Vestas’ aim for zero-waste wind turbines points to a significant challenge faced by the industry. For while turbines produce renewable energy, their construction does have an environmental impact.

As the wind industry develops — the International Energy Agency recently said that the offshore sector looked set to become a $1 trillion business by 2040 — it will face mounting challenges when it comes to waste.

Take a turbine’s blades. A 2017 research paper from the University of Cambridge, which was cited by Vestas on Monday, found that waste produced by wind turbine blades could hit an estimated 43.4 million tons by the year 2050. The research looked at waste produced by factors such as the manufacturing process, operation and maintenance as well as the end of a blade’s life.

Wind energy is just one of many industries aiming to reduce waste and mitigate environmental impacts. Last October, for example, consumer goods giant Unilever said it would halve its use of virgin plastic by 2025.

The business, whose brands include Dove, Ben & Jerry’s and Lipton, said it would achieve this by cutting its “absolute use of plastic packaging” by over 100,000 tons and “accelerating its use of recycled plastic.” Virgin plastics are produced using raw materials, rather than recycled ones.

The Anglo-Dutch firm also vowed to “help collect and process more plastic packaging than it sells.”


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: anmar frangoul
Keywords: news, cnbc, companies, plastic, zerowaste, plans, turbines, produced, value, wind, announces, firm, powerhouse, blades, energy, waste, vestas


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