Lord Green backs mobile internet to help drive global economic growth

Lord Green, the trade minister, has called on regulators to set “cohesive” international standards to encourage multinational companies to invest in new technology.

The former HSBC chairman said the telecoms industry needs to a set of global standards in order for the world’s economy to benefit from the “vast potential” provided by the mobile internet.

American Businesses Are Not Happy With Obama’s Proposed 2012 Budget

The business community is not overjoyed about the Obama administration’s proposed 2012 fiscal budget. It gives indications that there will be more than $200 billion in higher taxes for multinational firms, banks and oil and gas companies. These are mostly old proposals that have been vehemently opposed by corporate America.

NNPC retools for transformation

The Nigerian National Petroleum Corporation (NNPC) has said that its recent restructuring was to enable the corporation adequately position itself for the envisaged transformation, which would boost the country’s oil and gas industry.

Sequel to this, the corporation assured multinational oil companies and other stakeholders in the industry, pointing out that the on-going reform was not targeted at their businesses but aimed at improving the business of oil and gas exploration in the country.

Renaissance announces record preliminary results

Multinational oil and gas services company Renaissance Services SAOG, one of the top ten offshore vessel operators in the world and among the top performing public companies listed on the Sultanate of Oman's bourse, has announced the preliminary results for the year ended December 31, 2010, which are subject to audit ahead of the company's annual general meeting next month.

Microsoft India head Ravi Venkatesan quits

Bangalore: Ravi Venkatesan, the chairman and public face of Microsoft’s Indian arm has announced that he will soon leave the company, in what will be the third exit of a senior executive from the company.

Interestingly, Venkatesan, who said he will now focus on finishing his book and will reassess his priorities, joined the company exactly seven years to the day, Saturday.

Jamaican gas retailers pumping up own brands

SEVERAL of the 'seven sisters' of the petroleum industry, such as Shell, Esso and Texaco, have dominated the Jamaican gasoline retail trade for decades. However, local players have forced their way onto the scene in recent years, gnawing at the market share of the multinational integrated oil giants.

A picture of the change is painted throughout the streets of Kingston where, dotted among the foreign brand names that once monopolised the industry, are local trademarks such as Michael's, Johnson's, Epping and Unipet (United Petroleum Jamaica).

PepsiCo adapts in China

SHANGHAI: PepsiCo, the food and beverage giant, is leveraging digital media and new product development as a means of driving growth in China, where popular preferences are evolving rapidly.

While the US trading climate has proved particularly challenging as a result of the economic downturn, the world's most populous nation continues to flourish.