LONDON: Energy giant Shell yesterday announced plans to switch headquarters from the Netherlands to the UK and drop Royal Dutch from its name in a major shakeup that angered the Dutch government. 

BEIJING: China’s economy showed signs of stabilizing in October, according to data yesterday, with retail sales and factory output beating expectations as a power supply crisis appeared to ease. 

KUWAIT: Boursa Kuwait organized a virtual roadshow in collaboration with Goldman Sachs, a leading multinational investment bank and financial services company on 10 November 2021. During the event, twelve companies listed on the Kuwaiti stock exchange, including Boursa Kuwait, conducted over 110 individual meetings with 20 of the world’s leading investment banks and asset management firms.

BEIJING: Epic Games pulled the plug on its Chinese version of Fortnite yesterday, with its three-year effort to penetrate the world’s biggest gaming market derailed by Communist Party crackdowns against online addiction and the broader tech sector. Epic had announced two weeks ago that it would shut down the Chinese version of the game on November 15, noting that “Fortnite China’s Beta test has reached an end” and that servers would be closed.

KUWAIT: Ooredoo Telecom, the first to introduce innovative digital services in Kuwait, was ranked as the first telecom company to adopt the sixth version of the Internet Protocol (IPv6) in Kuwait by the Communications and Information Technology Authority, to be an important factor for the growth and continuity of Internet services and related services provided by Ooredoo Kuwait for its customers, and in response to the growing demand for faster and more efficient communication services in the era of streaming data.

GLASGOW: Fourteen days of gritty negotiations by 20,000 diplomats from nearly 200 countries-and the hopes of salvaging a deal at COP26 — boiled down to cash, coal, compensation and the willingness to speed up the drawdown of fossil fuels. Here’s a breakdown of the main sticking points that got unpicked for a deal to get hammered through.

DUBAI: Boeing got the ball rolling yesterday at a major air show in Dubai, announcing a contract with an Icelandic company to convert 11 single-aisle 737 aircraft into cargo planes. The five-day Dubai Airshow, the aviation industry’s first large gathering since COVID-19 clipped the sector’s wings last year, comes as global air traffic remains around half the level of 2019.

LAUSANNE, Switzerland: Zain Group, a leading telecom innovator operating in seven markets and serving over 48 million customers across the Middle East and Africa, announced an investment in ZoodPay, ‘Buy Now Pay Later’ (BNPL) Super App’s series B $38 million fundraising through its venture capital arm ‘Zain Ventures’, joining other global and existing investors in the round.

DUBAI: Airbus took a mega-order for 255 single-aisle A321 aircraft yesterday, the European plane-maker said in a statement, on the first day of a major air show in Dubai. It said the order came from Wizz Air, Frontier, Volaris and JetSMART-all from US company Indigo Partners-for a total value of more than $33 billion, according to the latest list price published by Airbus in 2018.