Author: Press Room

Stay informed with free updatesSimply sign up to the Oil & Gas industry myFT Digest — delivered directly to your inbox.UK oil and gas drillers face a new tax that would see them pay more if global prices rise, under proposals to overhaul the North Sea duties regime in the wake of the energy crisis. The mechanism would replace the controversial “windfall tax”, under plans outlined in a consultation on the future of the North Sea to be published on Wednesday, according to people within the industry and government. The industry has called for greater predictability in the regime, in order…

Thirty years after the Labour party started pushing “commonhold” ownership in 1995, and two decades after the first legislation introducing it, Sir Keir Starmer’s government this week set out plans to revamp the tenure in hopes of actually getting the system off the ground.Fewer than 200 properties currently use commonhold. Its take-up has been hampered by scepticism from lenders and developers. In England and Wales, the vast majority of flats are leasehold, where people own their home on a long lease, with overall control of the building in the hands of a landlord called a freeholder. The government has promised…

China’s navy showed off its J-15T fighter jet at the 2024 Zhuhai Air Show on Nov. 12, 2024.Nurphoto | Nurphoto | Getty ImagesChina on Wednesday increased its defense spending by 7.2% this year, the same growth rate as in the prior two years, as Beijing seeks to “firmly safeguard” its national security.In an official government report due to be released in parliament, China proposed a national defense budget of 1.78 trillion yuan ($244.99 billion) for the 2025 fiscal year.The increased defense budget, well above China’s economic growth target for this year of roughly 5%, comes as Western governments seek to…

An Albany man who used “emotional blackmail” to coerce a witness to drop domestic violence charges has been imprisoned in a case that “strikes at the heart of the criminal justice system”.

KUALA LUMPUR: Authorities in Malaysia are investigating three radio hosts who apparently mocked a Hindu ritual in a video clip. The trio’s actions were swiftly condemned by netizens and the country’s leaders, and Inspector-General of Police Razarudin Husain said 44 police reports have been filed against them as of Wednesday (Mar 5). The reports claim that the video touched on “racial sensitivities” and “mock the Hindu religion”, he said. The trio, from media company Astro’s Era FM channel, are to be questioned at the Bukit Aman police headquarters on Wednesday, reported the New Straits Times. The case is being investigated…

In Summary:According to UNCTAD data, Foreign Direct Investment (FDI) flows to Africa declined to around $45 billion, representing only roughly 3.5% of global FDI.In Africa, Egypt leads the list of countries with the highest FDI due to mergers and acquisitions. As of 2024, Egypt has received over $35 billion in FDI, which was one-third of Africa’s total FDI.China is currently considered the largest foreign investor in Africa, contributing significantly to the overall FDI figures. This article highlights how much each country has received in FDI, their key sectors that attract the investment and their projected rank due to the FDI they stand…

United States President Donald Trump has repeatedly threatened to target US universities that are hubs of student protests, from even before his election in November. Since he was sworn in on January 20, he has taken steps to back his plans, including executive orders. On Monday, he launched a new tirade, threatening to halt federal funding for schools, colleges, and universities if they allow “illegal protests”. Trump took to his Truth Social platform to deliver his newest threat, one that includes a promise to imprison “agitators”. “Agitators will be imprisoned/or permanently sent back to the country from which they came.…

Without billions of dollars in American-made weapons, it may be only a matter of time before Ukraine’s forces falter against Russia.How much time, however, depends on how quickly Europe and Ukraine can make up for the artillery, missiles, air-defense systems and other arms that Trump administration officials said on Monday were being put on hold. The United States had committed to delivering as much as $11 billion in weapons and equipment to Ukraine this year. Some of it was from Pentagon stockpiles, while some was ordered through new defense contracts, according to a new analysis by the Center for Strategic…

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Bodybuilder Jodi Vance died last Thursday in Columbus, Ohio, after suffering a fatal heart attack.Vance was just 20 years old. Vance’s family posted on social media the reason behind the heart attack at the Arnold Sports Festival.  Bodybuilder Jody Vance has died at 20 years old after a fatal heart attack due to dehydration. (@jodi.vance.fit/IG)”Her heart stopped due to complications of severe dehydration,” the post read on Vance’s Instagram page. “Despite all efforts by the hospital, they were unable to revive here.”She was a beautiful person inside and out, and she will be missed every single day. This was sudden and…