Energy Absolute Pcl (EA), whose Bangkok-listed shares have more than tripled this year, plans to spend about 46 billion baht ($1.4 billion) over the next three years to boost generation capacity from renewable energy. Capacity will increase by 570 megawatts by 2017 from about 100 megawatts, Chief Financial Officer Amorn Sapthaweekul said yesterday. The company, operator of Thailand’s biggest solar power project, is spending 17 billion baht to build two solar projects with combined capacity of 180 megawatts. It plans to invest an additional 29 billion baht on wind farms with total output of 390 megawatts, he said.
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The Tor Project's executive director has alleged members of the NSA and GCHQ regularly leak it details of flaws the agencies have discovered in its code. By fixing these flaws, the project can protect users' anonymity, he explained. The agencies declined to comment.
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The move comes after watchdog Rospotrebnadzor temporarily shut four McDonald's restaurants in Moscow. The actions come amid rising tensions and sanctions between Russia and the West over the crisis in Ukraine.
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Gap's first two outlets will be in Mumbai and the capital Delhi - India's biggest and busiest cities. Gap is partnering with Arvind Lifestyle Brand Limited, a subsidiary of Arvind Limited, which is one of India's largest textile companies.
Updated 5 Years ago

Billionaire Richard Branson and fellow business tycoons have offered “whatever support we can” to end the conflict in Ukraine and prevent the return of the “cold war misery of the past.” Branson posted an open letter on the Virgin website appealing for a peaceful solution to the crisis in the Ukraine.
Updated 5 Years ago

Carlsberg, the biggest brewer in Russia, plans to put less beer in bottles and reduce the size of some products in order to avoid increasing prices in Russia, where the beer market is shrinking. The initiative applies to half of Carlsberg’s Russian production and is intended to stabilize its business in Russia, which is facing food inflation and high taxes.
Updated 5 Years ago

New technologies are changing the way customers and financial service providers interact, and introducing a new demand for how banking services are delivered. In particular, those under 30 years of age have distinct preferences regarding financial services and digital technology. According to Toluwaleke Adenmosun, managing director, Accenture Financial Services, convergent disruption, in the form of new market entrants, is a growing factor in the banking industry. The take-off of e-commerce and the emergence of fast-rising online outlets like Jumia and Konga is opening up new avenues for e-payments and data collection.
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After addressing participants that gathered at the Nigeria electronic Fraud Forum (NeFF) in Lagos, a group of journalists cornered Dipo Fatokun, director, banking and payments system department, Central Bank of Nigeria (CBN), to find out why the apex bank reintroduced the fee banks charge on Automated Teller Machine (ATM) withdrawals and the implication of such action on financial inclusion. His explanations show that a lot of people take advantage of no fee charge on ATM withdrawals to make unnecessary withdrawals at will, thereby incurring huge cost on the acquirer banks. He, however, admitted that the introduction of new fee on ATM withdrawals remote-on-us will not have any negative impact on the financial inclusion drive of the CBN.
Updated 5 Years ago

The naira yesterday depreciated by 15 kobo against the US dollar at the inter-bank market following increased demand by the end users. After trading on Tuesday, the local currency closed at N162.15/$ as against N162.00/$ the previous day, according to data obtained from the Financial Markets Dealers Quotations (FMDQ).
Updated 5 Years ago

The Western Union Company, a leader in global payment services, has announced the launch of the outbound remittance service in Nigeria. Since the Western Union Money Transfer service was launched in Nigeria in 1995, consumers in the country have only been able to receive funds via the service. This launch therefore represents a significant milestone as it marks the first time outbound remittance has become available to the Nigerian community who are now able to send funds in minutes via Western Union around the world.
Updated 5 Years ago