News

  ABU DHABI / WAM PTT’s new trading office was opened by the PTT Chairman, CEO and Board of Directors, who travelled to Abu Dhabi to mark the milestone, alongside representatives from Adnoc, IFAD and ADGM. PTT is Thailand’s largest corporation and the only Thai company listed in Fortune Global 500. PTT becomes part of the growing energy trading community ...

  DUBAI / WAM The Australian state of New South Wales (NSW) has showcased its agrifood innovation and manufacturing capabilities to strengthen further its ties with the UAE at a dinner event held at the Australia Pavilion at Expo 2020 Dubai. The event was led by the newly appointed Vish Padmanabhan, NSW Senior Trade Commissioner to India and the Middle ...

Bloomberg Europe is bracing for what could be an exodus of more than a million refugees after Russia launched a full-scale attack on Ukraine, as officials say any initial strain will be borne by member states on the bloc’s eastern frontier. The order of a full-scale invasion from President Vladimir Putin, triggering one of the worst security crises in Europe ...

  Bloomberg American Electric Power is planning to sell some or all of its renewable energy portfolio in order to focus on its core utility business. “This move will simplify and de-risk the company while allowing us to redeploy capital to our regulated businesses, where we see a meaningful pipeline of investment opportunities to enhance service for customers across our ...

  Bloomberg Carrols Restaurant Group Inc, the largest Burger King owner in the US, is cutting its chicken-nugget portion sizes as surging beef and wage costs hit profit. Beef costs were up 33% in the fourth quarter compared with a year earlier for Carrols, which owns more than 1,000 Burger King stores. It’s a big deal for the seller of ...

  Bloomberg Chancellor of the Exchequer Rishi Sunak laid out a vision to cut taxes in the UK, establishing his credentials as a Thatcherite who can appeal to the members of his Conservative Party who are questioning Prime Minister Boris Johnson’s leadership following a succession of scandals. “I firmly believe in lower taxes,” Sunak said at the annual Mais lecture ...

  Bloomberg Europe’s currencies slid after Russia’s invasion of Ukraine plunged the continent into its biggest security crisis since World War II. The euro dropped to a nearly seven-year low against the Swiss franc as investors flocked to haven assets. The pair dropped as much as 1%, the largest slide in more than two years, before rebounding slightly. The common ...

  Bloomberg The UK’s cap on energy prices could spike another 50% in October to more than 3,000 pounds ($4,006) per household following huge gains in the wholesale natural gas and electricity markets, according to Investec Bank Ltd. The calculation assumes no change in prices over the remainder of the observation window that sets prices, but sustained market rallies could ...

  Bloomberg Grain markets catapulted even higher as Russia’s attack on Ukraine put a vital source of global supplies at risk. Wheat surged by the maximum allowed by the exchange, and corn earlier did the same. Milling wheat traded in Paris soared as much as 16% to a record, and oilseeds also bounded higher, heightening concerns of a further acceleration ...

  Abu Dhabi / WAM Adnoc Logistics & Services (Adnoc L&S) and Atlantic Gulf & Pacific International Holdings (AG&P), a leading downstream LNG platform and infrastructure development company, have signed a charter agreement to utilise Adnoc L&S’s LNG Carrier Ish as a Floating Storage Facility (FSU). Under the agreement terms, starting Q3 2022, AG&P will use the carrier for the ...