Latest news with #stateowned
Reuters
6 hours ago
- Business
- Reuters
Brazil's Petrobras raises jet fuel prices by 2.9%
RIO DE JANEIRO, July 1 (Reuters) - Brazilian state-run oil firm Petrobras ( opens new tab will raise the average price of jet fuel sold to distributors by 2.9%, or 0.09 real ($0.0166) per liter, starting July 1, the company said in a statement on Tuesday. Petrobras makes monthly tweaks to its jet fuel prices based on factors including oil prices and the foreign exchange rate. ($1 = 5.4283 reais)
Digital Trends
15 hours ago
- Business
- Digital Trends
A coding blunder just ruined a moment of joy for lottery winners
Imagine the joy of being notified of a huge lottery win. What would be the first thing you'd do? Get the champagne in? Book a fancy vacation? Call your boss and tell him where to go? And then imagine being informed that the notification had, in fact, been sent in error. Well, you can always send the booze back and cancel the holiday, but trying to convince your boss that you were just joking … well, that may be a bigger challenge. Recommended Videos In an awful turn of events, several thousand people in Norway were told via text messages and push notifications that they'd won 'excessively high' prizes in last Friday's Eurojackpot draw. Except that they hadn't. Norsk Tipping, Norway's state-owned gambling operator, had to contact the winners again to tell them that it had made a terrible mistake after a manual coding error inflated the value of their winning prizes. In a press release shared online, Norsk Tipping explained that it always receives the prize amounts from Germany in euro cents, and then converts them to Norwegian kroner as Norway doesn't use the euro currency. 'It was during this conversion that a manual error was made in the code that is entered into our game engine,' Norsk Tipping said, adding that instead of being divided by 100, the winning amounts had been multiplied by 100. Which means that instead of splashing out on a new car, the winners would, more likely, be able to splash out on a new air freshener for their current vehicle. If they have one. Norsk Tipping said that the process of sending out prizes began at about 3:15 a.m local time, and was confirmed completed at about 4:30 a.m., with SMS and push notifications sent to customers who had consented to receiving such messages. While no payouts were made, Norsk Tipping CEO Tonje Sagstuen deemed the error serious enough for her to quit her post on Saturday. 'I've received many messages from people who had managed to make plans for holidays, buying an apartment or redecorating before they realized that the amount was wrong,' Sagstuen said in comments reported by Euronews. 'To them I can only say: I'm sorry! But I understand that it's little consolation.' The Guardian tracked down one of the winners, a guy called Sveen who teaches at a culinary school in Oslo. He received a message telling him he'd won 1.2 million kroner ($120,000), but it turned out he'd only won a paltry 125 kroner ($12.50). Despite the disappointment, Sveen said he would still celebrate, though he admitted that 'you don't get too much champagne for that money. It's more like a glass of prosecco or crémant than champagne.'
Al Arabiya
a day ago
- Business
- Al Arabiya
Qatar Airways to resume flights to Iraq, Lebanon, Jordan and Syria
Qatar Airways said on Monday it will resume flight operations to Iraq, Lebanon, Jordan and Syria after the lifting of airspace restrictions in the region imposed due to the Israeli-Iran crisis. The state-owned airline said flights to Iraq would resume later on Monday, while flights to Lebanon and Jordan will restart on July 1. Flights to Syria would resume on July 6, it added.
Bloomberg
4 days ago
- Business
- Bloomberg
Albania Takes Stake in Jared Kushner's $1.4 Billion Tourism Plan
Albania established a state-owned company to take a stake in a $1.4 billion luxury resort project led by Jared Kushner, Donald Trump's son-in-law. The company, set up days after Kushner and Ivanka Trump visited the coastal city of Vlore, will oversee state assets and ensure a government say in the project's development, operation and the use of its proceeds. It was registered Thursday as Albanian State Development & Real Estate.
South China Morning Post
4 days ago
- Business
- South China Morning Post
Why Egypt is welcoming China with open arms instead of the US
Egypt has shifted its centre of gravity. China, not the United States, now anchors Cairo's foreign partnerships. Earlier this week, China and Egypt agreed to deepen cooperation in electric vehicles, electronics and artificial intelligence. Memorandums of understanding were signed to expand investment and support Chinese firms involved in infrastructure development. In one of the most revealing developments, China State Construction Engineering Corporation (CSCEC) and Egypt's Arab Contractors agreed on a deal to co-develop and manage major infrastructure projects, locking in a model of state-led expansion with China at its core. The agreement joins two construction giants that are both state-owned and dominant across their respective regions. This partnership will drive Egypt's infrastructure agenda and project influence across Africa. More than investment, it is a shared vehicle of state power, aligning Egypt's development model with China through coordinated ambition and long-term control. The groundwork for this shift was laid years earlier. CSCEC built and now operates the central business district of Egypt's New Administrative Capital – which is 85 per cent financed by Chinese lenders. The deal moves China from contractor to co-manager, embedded in the machinery of Egyptian state-building. The result is a model that constructs state capability without compromising autonomy. Egypt's bet is based on simple arithmetic: China delivers results without imposing conditions. Cairo is not a recipient but a co-architect, and it has chosen a partnership grounded in mutually beneficial terms. Beijing provides unmatched capital, engineering and execution capacity while Egypt retains direction and control. No lectures, no conditions, no strings attached.
