Bloomberg Oil’s set for its biggest monthly drop since 2016 as the specter of a slowdown in the global economy haunts the market while US inventories grow and producers relay mixed signals. Futures in New York are poised for an 8.8 percent drop in October, following two months of gains. A global equity rout and an escalating US-China trade war …
Read More »Bloomberg India will sell as much as 9 percent in monopoly miner Coal India Ltd. in a public offer starting on Wednesday, according to a regulatory filing by the country’s coal ministry. The federal government, which owns 78.55 percent in the world’s largest coal producer, will sell a 3 percent stake, or 186.22 million shares, with an option to sell …
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Bloomberg Oil slid to a two-month low as escalating US-China trade tensions imperiled global growth at a time when American crude inventories are swelling. Futures declined as much as 2.6 percent in New York on Tuesday. The US is preparing another round of tariffs on Chinese imports if talks between the presidents of the world’s two largest econo-mies falter. Meanwhile, …
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Bloomberg India’s top court has directed the federal electricity regulator to decide within 8 weeks on approving revised tariffs for three power producers in the western state of Gujarat due to increased cost of imported coal. The Gujarat government sought the top court’s intervention to implement a state government panel’s report that recommended implementing a cost-reflective tariff, which would mirror …
Read More »Bloomberg Simec Atlantis Energy Ltd., a renewable energy developer, plans to extend its tidal stream project in Scotland by adding two new turbines. The MeyGen facility currently has a capacity of 6MWs, and the extension will bring it to 10MWs. It’s partially funded by a $19mn support package from the European Commission. Atlantis is trying to bring costs down by …
Read More »Bloomberg With new pipelines unlikely to come online anytime soon, analysts at Royal Bank of Canada (RBC) are floating a new idea to ease Alberta’s crude oil bottlenecks: Give producers a temporary respite from making royalty payments. Suspending the average 5 percent royalty that Alberta’s oil producers pay to the province in the form of cash or barrels of crude …
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DUBAI / WAM The UAE has been ranked as one of the world’s top Islamic fintech hubs with the country home to 12 start-ups specialising in this field, a new analysis from the Dubai Chamber of Commerce and Industry has revealed. The analysis, based on recent data from IFN Fintech, ranked the UAE fourth globally as an Islamic fintech hub. …
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Bloomberg A Boeing Co. 737 Max jet, operated by Indonesia’s Lion Air, crashed in the Java Sea with 189 people on board, making it the model’s first accident and potentially the worst commercial aviation disaster in three years. Flight JT610, an almost brand new 737 Max 8, took off from the capital Jakarta at 6:20 am local time on Monday …
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Bloomberg Russia is set to suffer the biggest revenue losses from rules mandating cleaner marine fuels from 2020, because the world’s top exporter of the sulfurous residual oil that powers ships doesn’t look prepared for the change. Refineries across the world are bracing themselves for the once-in-a-generation shift intended to reduce pollution caused by ships. While plants in Europe and …
Read More »Bloomberg C2 Energy Capital LLC, a New York-based clean-energy developer, raised $21 million to invest in new projects. About half of the money raised for the C2 Taiyo Fund I LP fund is already committed to specific projects. The fund will target renewables and storage investments, including a 51-megawatt solar portfolio being built in South Carolina. C2 develops, owns and …
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