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UAE launches student competition on nuclear development

VIENNA / WAM The Permanent Mission of the United Arab Emirates to the International Atomic Energy Agency (IAEA) in Vienna has launched the first National Nuclear Science for Development Student Competition in cooperation with the UAE Ministry of Education, the Federal Authority for Nuclear Regulation (FANR) and Emirates Nuclear Energy Corporation (Enec). Targeting high-school students from the age of 14 ...

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Massachusetts taps rival utility for ‘blast recovery’

Bloomberg The Massachusetts governor declared a state of emergency after explosions along a natural gas distribution system operated by NiSource Inc. killed one person and injured more than 25 others. He tapped another utility owner to oversee the recovery. Eversource Energy would now be “in charge,” Governor Charlie Baker said. The move came after local officials criticised the operator of ...

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AltaGas considers Canadian IPO in shift to US after WGL deal

Bloomberg AltaGas Ltd. is intensifying its shift towards the US, following up its $4.6 billion takeover of Washington utility WGL Holdings Inc. with a plan to spin off its Canadian assets through an initial public offering. The IPO and a debt repayment from the new company would deliver $770 million in cash proceeds to AltaGas, which plans to use the ...

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‘Bankrupt’ Pakistan grid adds to PM’s economic quandary

Bloomberg In Pakistan’s Tharpakar desert, Chinese and Pakistani workers toil in the blistering heat to complete the construction of a massive open pit coal mine and an adjacent 660 megawatt power plant four months before schedule. When Engro, one of Pakistan’s largest conglomerates, which is partnering with China, begins generating electricity from the plant in December it will hit a ...

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India says solar safeguard duty imposed

Bloomberg India’s finance ministry said a 25 percent safeguard duty on solar cells and modules imported from China and Malaysia has been imposed, providing some clarity on the protectionist move that had been caught up in court battles. The tariff will be imposed in accordance with a notification originally published on July 30, the finance ministry said. The development follows ...

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Meituan raises $4.2bn in IPO

Bloomberg Meituan Dianping raised about $4.2 billion after the Chinese food review and delivery giant priced its Hong Kong initial public offering near the top of a marketed range, according to people with knowledge of the matter. China’s second largest tech startup priced its sale of 480.27 million new Class B shares at HK$69 apiece, the people said, asking not ...

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NIO’s wild ride may blaze trail for more US IPOs from China

Bloomberg The party isn’t over for Chinese companies seeking US listings and NIO Inc., which almost doubled after two full days as a public company, might deserve credit for keeping the trade alive. After an underwhelming first day of trading on September 12, the surge in the Shanghai-based electric car maker suggests investors may continue to swarm around US listings ...

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Mangkhut unleashes fury on Philippines as it heads to China

Bloomberg Super Typhoon Mangkhut battered the Philippines with gales and torrential rains, leaving at least three people dead and thousands homeless, triggering landslides and damaging an airport before heading towards China. The most powerful storm of the year ripped into Cagayan province in the northern Philippines with winds of up to 269 kilometres (167 miles) per hour. By US standards ...

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VW preparing steps for truck unit listing

Bloomberg Volkswagen AG’s board is working towards a decision to list its heavy-truck division, a move that would generate fresh funds for its bid to challenge global leaders Daimler AG and Volvo AB, according to people familiar with the matter. VW’s supervisory board plans to discuss the matter early next week, and the truck unit will host a capital markets ...

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Facebook CEO to testify in November in investor suit

Bloomberg Facebook Inc. co-founder Mark Zuckerberg has to explain in court why he dropped a plan to create non-voting shares, which would’ve allowed him to retain control of the world’s largest social-media company after selling most of his stake to fund charitable works. Delaware Chancery Court Judge Travis Laster ordered Zuckerberg to testify on November 19 in a lawsuit brought ...

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