VICTORIA MEDIA

Business & Financial News email: business(@)victoriamedia.net

February, 2016

Nigeria, Saudi Arabia commit to oil market rebound

Leaders of Nigeria and the Kingdom of Saudi Arabia have expressed commitment to a”stable oil market” and a “rebound of oil price.” At a bilateral meeting between Nigeria and Saudi Arabia in Riyadh hosted by the ruler, King Salman Bin Abdul-Aziz, the two leaders accepted the fact that their two economies are tied to oil […]

Posted in Nigeria, Saudi Arabia | Comments Off on Nigeria, Saudi Arabia commit to oil market rebound

IRS Learns 390,000 More Taxpayers Were Victims of Last Year’s Hack

Following an incident involving the IRS’s “Get Transcript” application discovered last May, the Treasury Inspector General for Tax Administration conducted a nine-month long investigation looking back to the launch of the application in January 2014 for additional suspicious activity. This expanded review has identified additional suspicious attempts to access taxpayer accounts using sensitive information already […]

Posted in IRS, USA | Comments Off on IRS Learns 390,000 More Taxpayers Were Victims of Last Year’s Hack

UNWTO confident in Egypt’s tourism recovery – The World Tourism Organization

UNWTO Secretary-General, Taleb Rifai, has expressed the Organizations’ full confidence in the recovery of tourism in Egypt during a recent visit to the country. On the occasion, Mr. Rifai met with Egypt’s President, Abdel Fattah el-Sisi,in the presence of the Egyptian Minister of Tourism, Hisham Zaazou. The President reiterated his full support to the tourism […]

Posted in Egypt | Comments Off on UNWTO confident in Egypt’s tourism recovery – The World Tourism Organization

European distillate oversupply means some shippers take the long route around Africa

In Europe, the combination of low winter heating demand, high refinery runs, and increased imports have kept distillate fuel oil inventories in the Amsterdam, Rotterdam, and Antwerp (ARA) area far above normal. Higher inventories have lowered distillate futures prices in the ARA area to a point where inventories are being held in floating storage and […]

Posted in Crude oil prices, General News | Comments Off on European distillate oversupply means some shippers take the long route around Africa

MEPs back more duty-free olive oil imports to help Tunisia but want safeguards

To help strengthen Tunisia’s economy, hit not least by 2015 terrorist attacks, MEPs backed emergency plans to allow an additional 70,000 tonnes of its virgin olive oil to be imported duty free in the EU, in 2016/17. However, MEPs also inserted requirements for the EU Commission to do a mid-term assessment of the effects of […]

Posted in European Union, Tunisia | Comments Off on MEPs back more duty-free olive oil imports to help Tunisia but want safeguards

Europe’s largest onshore wind power project to be built in Central-Norway

Statkraft, TrønderEnergi and the European investor consortium Nordic Wind Power DA will join forces to realise Europe’s largest onshore wind power project in Central-Norway, comprising six onshore wind farms, with a combined capacity of 1000MW. The total investment in the wind farms amounts to approximately EUR 1.1bn. Construction will commence in Q2 2016 and commissioning […]

Posted in Energy, Norway | Comments Off on Europe’s largest onshore wind power project to be built in Central-Norway

MasterCard Study of Social Conversations Reveals Consumers are Embracing the Next Generation of Payments

In 2015, consumers embraced the increasing choice of digital payments options available to them, moving beyond the simple question of “what’s next?” Across the globe, cardholders are asking banks and retailers to provide real-life, ready-to-use mobile payments options, proven by social media comments more than doubling in just one year. These insights lead the findings […]

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Philips increases sales of Green Products to 54% of total sales

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHI) today reported further progress in its sustainability performance in 2015 with Green Product revenue increasing to EUR 13 billion, now representing 54% of total revenue [1]. In 2015, Philips invested EUR 495 million in Green Innovation and reduced its carbon footprint by 7% compared to […]

Posted in Annual Reports | Comments Off on Philips increases sales of Green Products to 54% of total sales

Statnett buys main transmission grid from BKK Nett

Statnett SF and BKK Nett AS have entered into an agreement concerning the sale of BKK Nett’s existing and new main transmission grid to Statnett, including construction of a new power line on the Kollsnes – Mongstad – Modalen section. The background for the transaction is that the EU’s Third Energy Market Package is expected […]

Posted in Norway | Comments Off on Statnett buys main transmission grid from BKK Nett

Amer Sports accelerates in Cycling through the acquisition of ENVE

To accelerate its Cycling business, Amer Sports Corporation has acquired ENVE Composites LLC, based in Utah, USA. ENVE is a fast-growing brand in high-end carbon wheels, components, and accessories for road and mountain biking with annual sales of approximately USD 30 million. The acquisition accelerates Amer Sports Cycling business especially in the United States and […]

Posted in Finland | Comments Off on Amer Sports accelerates in Cycling through the acquisition of ENVE

Gazprom and Bolivia advancing cooperation to new levels

A Gazprom delegation headed by Alexey Miller, Chairman of the Gazprom Management Committee, visited in Bolivia. Tarija hosted a working meeting between Alexey Miller and Evo Morales, President of the Plurinational State of Bolivia. The parties discussed a wide range of issues relating to the ongoing and future energy cooperation. This collaboration was noted to be strategic and long-term. Another working meeting was held between Alexey Miller […]

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Eurogroup President Jeroen Dijsselbloem pledges to strengthen EU Banking Union and tackle tax-avoidance

Eurogroup President Jeroen Dijsselbloem will strive to strengthen the EU Banking Union, despite recent calls to loosen regulation in response to bank share volatility in in global markets, he told the Economic and Monetary Affairs Committee on Thursday. “There should be no doubt of the European Union’s determination to apply these rules”, he said in […]

Posted in Economic and monetary affairs, European Union | Comments Off on Eurogroup President Jeroen Dijsselbloem pledges to strengthen EU Banking Union and tackle tax-avoidance

Oskarshamn 1 to go offline in 2017

Since October 14, a decision by the owner has been in place not to resume operations at Oskarshamn 2 (O2) and to commence the closure of Oskarshamn 1 (O1) some time during the 2017-2019 period. Today, OKG’s Board of Directors made the decision to decommission O1 in conjunction with the outage in 2017. The reason […]

Posted in Energy, Sweden | Comments Off on Oskarshamn 1 to go offline in 2017

Statoil strengthens its position in Uruguay

Statoil has signed a farm-in agreement with Tullow to acquire a 35% working interest in offshore exploration block 15 in the Pelotas basin, deepening its position in Uruguay. “With this transaction, we are increasing our exposure to the upside potential of this untested geological setting. This is in line with Statoil’ exploration strategy of access […]

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Gazprom and Slovakia address cooperation prospects in gas sector

Bratislava hosted thursday a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Robert Fico, Prime Minister of the Slovak Republic. The parties addressed the progress with and the prospects for the Russian-Slovak cooperation in the gas sector. Background Slovakia is among the largest Russian gas transit countries. In 2008 Gazprom and its Slovak partners signed new long-term gas […]

Posted in Gazprom, Slovakia | Comments Off on Gazprom and Slovakia address cooperation prospects in gas sector