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UK awards Brexit ferry contract to firm with no ships

LONDON: Britain's tortuous breakup with the European Union took a bizarre turn Monday after it emerged that London has awarded an emergency ferry services contract to a company without any ships. Prime Minister Theresa May's government is ramping up preparations to avert chaos should Britain split from the EU in March without an agreement on future trade ties. May's cabinet will meet next week for more "no-deal Brexit" planning in case the British parliament fails to approve a draft deal London and Brussels have…

Norway solar firm signs 2.5 bn-euro deal with Iran

TEHRAN: Just days after US President Donald Trump called for further isolation of Iran, a Norwegian solar company signed a deal to invest 2.5 billion euros in the country over the next five years. "Norway is fully committed to the JCPOA (nuclear deal) and this is proof that we have taken the opening very seriously, and we will see more investment very soon," said Norwegian ambassador Lars Nordrum. He was hosting the signing at his residence in Tehran between Norway's Saga Energy, which will work with Iran's Amin Energy…

Uber’s UK boss quits as firm battles to keep London license: email

LONDON: Top boss of Uber in Britain will quit the taxi-hailing app just as the firm battles to overturn a decision to strip it of its license in London, according to an email seen by Reuters. The British capital’s transport regulator deemed Uber unfit to run a taxi service last month and decided not to renew its license to operate, citing the firm’s approach to reporting serious criminal offenses and background checks on drivers. But in an email seen by Reuters on Monday, Uber’s Northern European Manager Jo Bertram,…

Saudi to create $2.7 bn entertainment investment firm

RIYADH: Saudi Arabia's sovereign wealth fund is set to create a $2.7 billion entertainment investment company, state media said Wednesday, as the ultra-conservative kingdom opens up avenues for leisure. The country seeks to increase domestic spending on entertainment and launch hundreds of recreation centres across the kingdom as part of its Vision 2030 plan to reduce its dependence on oil. "The Public Investment Fund is in the process of developing a new company to act as its investment arm in Saudi Arabia's growing…

Sindh govt, Swedish firm sign vehicle inspection project

KARACHI: Sindh Chief Minister Syed Murad Ali Shah on Friday said that deaths in many road accidents were caused by decrepit vehicles. “Most of the road accidents happen because of mechanically unfit vehicles. This is one of the key issues the Sindh government aims to resolve whilst establishing modernized vehicle inspection and certification system for all types of vehicles in the province,” he said while addressing the signing ceremony of Concession Agreement signed between Sindh Transport Department and a Swedish firm,…

Hong Kong Uber drivers found guilty of illegal car hire, latest blow to firm

HONG KONG: A Hong Kong court on Friday found five Uber drivers guilty of illegally offering ride-hailing services, the latest clamp down against Uber operations in Asia and a rare case where drivers have been found criminally liable. Authorities in several Asian countries are taking a tougher stance against the San Francisco-based firm, amid growing complaints from traditional taxi drivers who say Uber drivers are not properly registered nor insured. Uber pulled out of Taiwan less than a month ago over mounting fines…