Bloomberg Dubai’s Al Khaleej Sugar Co, owner of the world’s largest port-based sugar refinery, received the green light to build a factory in Spain, extending its reach beyond the Middle East and North Africa. The company plans to start construction of the plant in Merida next year, said Managing Director Jamal Al Ghurair. The agreement between its subsidiary Iberica Sugar ...

Bloomberg The European Union’s climate plan might be the most ambitious attempt yet to force a major economy to abandon fossil fuels, and by some measures it still won’t be enough to keep global temperatures from rising. But that’s no reason to despair. The Fit for 55 package — named for its goal of cutting emissions at least 55% from ...

Bloomberg Global Power Synergy Pcl, the listed power unit of Thailand’s state-owned PTT Group, has acquired a stake in Indian renewable energy provider Avaada Energy Pvt for about $453 million. Global Power completed the purchase of about 41.6% stake in Avaada through subscription of new shares, the company said in a statement, confirming an earlier Bloomberg News report. The transaction ...

Bloomberg At a time when funding for fossil fuel projects is drying up, Botswana is racing to develop six new coal mines and a rail link for exports, with the government prepared to put its own money into the projects. The southern African nation, the world’s second-biggest diamond producer, has more than 200 billion tons of untapped coal reserves. To ...

Bloomberg A consortium that includes CNIC Corp and GIC Pte are nearing a deal with China Three Gorges Corp for a 25% stake in its overseas asset portfolio that could be valued at as much as $2 billion, according to people familiar with the matter. The group could reach a deal to buy the stake in China Three Gorges’ international ...

Bloomberg The successor to bankrupt Italian flag-carrier Alitalia SpA faces an uphill battle to establish itself after low-cost rivals took advantage of the pandemic and a long restructuring process to grab chunks of its home market. Italia Trasporto Aereo SpA, known as ITA, plans to start services on October 15, after months of talks with European Commission officials over terms ...

Bloomberg The UK government abruptly reimposed quarantine rules on travellers returning to England from France days before it was due to ease the restrictions for most of Europe, drawing immediate anger from tourism bodies and airlines. Citing concern about the spread of the beta variant of the virus, UK ordered that anyone arriving after Monday from across the Channel will ...

Bloomberg Shoppers rushing back to stores after the lifting of lockdowns boosted European brands selling everything from watches to sneakers to handbags. Richemont, the owner of Cartier and Van Cleef & Arpels, reported a more than doubling in first-quarter revenue, while sales at Burberry Group Plc topped estimates. The results show consumers are hungry for luxury goods as they emerge ...

Bloomberg L Catterton, the private equity firm backed by luxury French fashion house LVMH, agreed to buy a 60% stake in Italian fashion company Etro SpA, Sole 24 Ore reported on its website, without citing anyone. The deal values Etro at about 500 million euros ($590 million), the newspaper reported. Etro, which had hired Rothschild as an adviser, had been ...

Bloomberg Amazon.com Inc was sued by the US Consumer Product Safety Commission (CPSC ), which is seeking an order determining that the largest online retailer is legally responsible for defective products sold in its sprawling third-party marketplace. The complaint filed says Amazon sold children’s sleepwear that failed to meet federal standards for flammability; some 24,000 carbon monoxide detectors that failed ...