GLOBAL MARKETS: Changing with the times
Norway’s biggest petroleum company, will change its name to Equinor as it seeks to broaden its energy reach beyond oil and gas production
Changing with the times
Statoil ASA, Norway’s biggest petroleum company, will change its name to Equinor as it seeks to broaden its energy reach beyond oil and gas production.
"The world is changing and so is Statoil," says chairman Jon Erik Reinhardsen. "The biggest transition our modern-day energy systems have ever seen is under way, and we aim to be at the forefront of this development."
Location, location, location
Singapore is the world’s most expensive city for the fifth straight year in the Economist Intelligence Unit’s latest "Worldwide Cost of Living" report, with Paris a close second. Asia Pacific and European destinations dominated the ranks of costliest cities identified in the report, which was released last week.
Tokyo and Osaka were conspicuous in their absence from the top 10, edged out by low inflation. As recently as 2013, Tokyo was the world’s costliest city in which to live. The Japanese capital dropped seven places to 11th over the past year.
Hong Kong, last year’s second-most expensive city, slipped to fourth place.