Blog List Layout

Bloomberg Texas’s grid operator needs to come up with $1.3 billion to pay power plants for energy they supplied during last week’s historic blackouts, raising the prospect it may require a state bailout. The Electric Reliability Council of Texas, which manages most of the state’s grid, said it’s still waiting on more than $2 billion in payments from retail power ...

Bloomberg Myanmar saw its deadliest day since the February 1 coup, with the United Nations saying at least 18 protesters were killed in a stark escalation of violence to quell persistent demonstrations against military rule. More than 30 other people were wounded when soldiers and police fired live ammunition into crowds in six cities across Myanmar, UN Human Rights Office ...

Abu Dhabi / WAM Abu Dhabi Commercial Bank PJSC (ADCB) has signed an agreement to acquire a portfolio of approximately 1,000 mortgages from Abu Dhabi Finance PJSC (ADF). The transaction provides further growth for ADCB’s retail and SME businesses in line with the bank’s UAE-centric strategy and prudent risk management framework. ADF was established in 2008 as an Abu Dhabi-focused ...

Abu Dhabi / WAM Many Palestinians have commended the UAE’s move to provide the coronavirus vaccine to the Gaza Strip, in light of the long-imposed blockade that hinder the delivery of Covid-19 vaccines into the Strip. In a statement to the Emirates News Agency (WAM), Palestinian human rights activist Khalil Abu Shamala said that Gaza Strip is witnessing a deterioration ...

ABU DHABI / WAM Statistics Centre – Abu Dhabi (SCAD) and Khalifa University of Science and Technology announced on Sunday the signing of a Memorandum of Understanding for statistical cooperation and the exchange of data. This partnership seeks to enhance collaboration, integration and sharing of knowledge and expertise in the fields of statistics, data and Artificial Intelligence (AI) technology. Through ...

ABU DHABI / WAM Emirates Steel announced its plans to add Hot Rolled Coils (HRC) to its wide-range products portfolio so that it can mainly meet the needs of the local and regional markets of the high-quality flat products. Emirates Steel is currently conducting a comprehensive evaluation for the project to construct the fully automated first-of-its-kind HRC plant in Mena ...

ABU DHABI / WAM National Central Cooling Company (Tabreed) announced the launch of four pilot projects, all part of Tabreed’s R&D funding commitment, which reinforces the company’s unwavering stewardship towards sustainability beyond just environmental benefits. This will also contribute to an improvement in Tabreed’s operational efficiency while enhancing district cooling plant life and reliability, with the funding expected to contribute ...

Bloomberg At least five people died as Myanmar’s military government cracked down on protests over the weekend, and escalated non-tolerance for dissent with the ouster of the country’s representative to the United Nations along with the arrests of journalists and hundreds of demonstrators. Police in the city of Dawei in southern Myanmar opened fire into a crowd on Sunday, killing ...

Bloomberg The US merchandise-trade deficit widened in January as imports climbed to a record high, signalling a continuing recovery in demand from American consumers. The deficit grew to $83.7 billion from $83.2 billion in December, according to Commerce Department data. Economists in a Bloomberg survey had called for an $83 billion shortfall in January. Imports rise 1.1% to $218.9 billion, ...

Bloomberg The UK is set to create a 5 billion-pound ($7 billion) grant program to help businesses that have been hard hit by the pandemic. The ‘Restart’ program will mostly apply to retail, hospitality and leisure — the industries that have been impacted most by the series of lockdowns imposed in the last year. The plan will be announced on ...