Bloomberg China’s biggest coal producers signed thermal supply contracts with major power generators in Beijing on Tuesday as the country’s top regulators push to stop prices of the fuel from rising too much. Shenhua Group Corp. and China National Coal Group Corp., the country’s two biggest coal producers, signed the deals with state-owned power generators China Huadian Corp. and …
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Brussels / AFP The European Union on Wednesday edged up its eurozone growth forecast for this year but trimmed it for 2017, warning that the economy faced new challenges due to Brexit and rising inequality. Brussels also nearly halved its economic growth outlook for Britain itself next year due to uncertainty over the country’s vote to leave the bloc. …
Read More »Bloomberg A.P. Moller-Maersk A/S, the owner of the world’s biggest container shipping line, saw its shares fall on Wednesday as the outcome of the US presidential election fanned concern there will be a shift toward policies that are hostile toward global trade. Maersk sank as much as 5.6 percent to trade 3.4 percent lower at 9,215 kroner at 11:29 …
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Bloomberg There’s a war brewing over the future of rooftop solar, and Arizona is at ground zero. Pinnacle West Capital Corp., which owns the state’s largest utility, last week said it has formed a third-party group to support candidates for an elected state board that regulates their industry. The move promises to inject $1 million into a race in …
Read More »Bloomberg Shares in Vestas Wind Systems A/S plunged after US voters unexpectedly propelled Republican nominee Donald Trump to the presidency, sparking concern that the renewable- energy industry will face future political headwinds. The world’s biggest maker of wind turbines fell as much as 14 percent and traded 6.6 percent lower at 440.10 kroner as of 12:50 p.m. in Copenhagen. …
Read More »Bloomberg Poland’s central bank has its credibility increasingly on the line after gambling that economic growth is strong enough to commit to tightening as its next move. While the 10-member Monetary Policy Council kept its benchmark interest rate at a record low of 1.5 percent on Wednesday, in line with the predictions of all 30 analysts surveyed by Bloomberg, …
Read More »ABU DHABI / WAM The Abu Dhabi National Oil Company (ADNOC), in partnership with Occidental Petroleum, announced on Tuesday its intention to expand its Al Hosn facility, which will increase sour gas processing by 50 percent of existing capacity. The plant could become operational within the life span of ADNOC’s new five-year business plan, part of the company’s ‘2030 …
Read More »DUBAI / WAM Yuan Shengrui, Senior Executive Officer of the DIFC branch of China Construction Bank (CCB), on Tuesday rang the market-opening bell to celebrate the listing of a US$600 million Bond on Nasdaq Dubai, under the bank’s $6 billion medium term note programme. The CCB is one of China’s most prominent banks with a market capitalisation of $173.3 …
Read More »DUBAI/ WAM National Bonds Corporation, National Bonds, renewed its partnership with du to support WiFi UAE, a country-wide initiative to provide WiFi access to the public, in line with the UAE Vision 2021. WiFi UAE currently covers Abu Dhabi, Dubai, Sharjah, Al Ain and Ras Al-Khaimah. It offers free internet access across Dubai Metro, Dubai Tram, Dubai International Financial Centre, …
Read More »LONDON / WAM The Ajman Tourism Development Department (ATDD) unveiled multi-million-Dollar tourism projects in the emirate, highlighting its status as a major tourism and investment destination for the UK market. Visitors and exhibitors at World Travel Market (WTM) in London, expressed their interests in the soon-to-open Oberoi Al Zorah luxury hotel. Also showcased was the 182-key hotel in Ajman …
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