ABU DHABI / Reuters Abu Dhabi is pushing ahead with a second solar power plant and will invite bidders by the middle of the year, a top official of the emirate’s utility said on Monday. Last year the Abu Dhabi Water & Electricity Authority (Adwea) closed a $872 million financing package for its first solar power plant with capacity of …

Dubai / WAM The Dubai Land Department (DLD) has launched its 2018 real estate promotion plan for the Real Estate Investment Management and Promotion Centre, the department’s investment arm. DLD held a press conference in the presence of Sultan Butti bin Mejren, Director-General of DLD, Majida Ali Rashid, Assistant Director-General and Head of the Real Estate Investment Management and Promotion …

Bloomberg Despite a US holiday, the dollar dominated trading on Monday as it headed for a fourth day of declines, weakening against every major currency. The euro’s jump weighed on European stocks, while gold gained. Bloomberg’s dollar index approached its lowest level in three years as the euro extended gains that have pushed it to the strongest since 2014. The …

Bloomberg A record winning run in Hong Kong stocks came to an end on Monday as investors took profit in some of the best performers. The city’s benchmark Hang Seng Index slipped 0.2 percent at the close, snapping a 14-session rising streak. The gauge earlier rose above its record closing high made in 2007 before giving up gains. Country Garden …

Bloomberg Oil traded near the highest close in more than three years as Iraq echoed a call by the United Arab Emirates and other producers that the OPEC-led output cuts should continue, despite recent price gains. Futures were little changed in New York after rising 4.7 percent last week. The curbs have contributed to stability in the market and should …

KHOBAR / Reuters State-controlled Saudi Electricity Co (SEC) has signed a deal with Japanese Tokyo Electric Power Co (TEPCO), Nissan Motor Co and Takaoka Toko for the first electric vehicle (EV) pilot project in the world’s largest oil exporter, it said. Saudi Arabia is keen to develop its auto industry as part of efforts to diversify the economy beyond oil …

ABU DHABI / Reuters Saudi Arabia plans to prequalify for bidding firms from two or three countries by April or May for the first nuclear reactors it wants to build, a consultant for the government body work-ing on the nuclear plans said on Monday. Saudi Arabia, the world’s top oil exporter, wants nuclear power to diversify its energy supply mix, …

Bloomberg Australia, one of the world’s biggest users of rooftop solar panels, likely added the most new capacity on record last year as electricity users sought to ease escalating power bills. A preliminary estimate by Australia’s Clean Energy Regulator of 1.05 gigawatts installed last year would be a record for the country, the government body said in an emailed statement. …

Bloomberg In northeast Brazil, beyond the resorts and pristine beaches, lie some of the world’s best winds for generating electricity. Welcome to Serra Branca. It’s a wind generator’s heaven, featuring breezes so perfect for spinning turbines that this Brazilian region is capable of churning out more wind energy than any other part of the world. In the latest testament to …

Bloomberg China’s banking regulator pledged to continue its crackdown on malpractice in the $38 trillion industry in 2018, vowing to tackle everything from poor corporate governance and violation of lending policies to cross-holdings of risky financial products. The China Banking Regulatory Commission unveiled its regulatory priorities for the year in a statement. They include: Inspecting the funding source of banks’ …