News

  Bloomberg Brazil’s federal government has agreed to provide emergency funding to Rio de Janeiro state after the host of this year’s summer Olympics declared an emergency as it runs short of cash weeks before the start of the games, O Globo reported. Acting President Michel Temer’s administration will ask Congress to authorize a one-time payment of 2.9 billion reais ...

  Bloomberg Canadian Solar Inc., the world’s second-largest solar manufacturer, is building its first plant in Brazil. The facility in Sorocaba, in the state of Sao Paulo, will be able to assemble about 350 megawatts of panels a year, according to Wladimir Janousek, general manager of the company’s Brazil unit. The Guelph, Canada-based solar company is expected to announce that ...

  Bloomberg Brazil has rejected requests from developers seeking more time to complete the country’s first large-scale solar farms, according to two people involved in the matter. The country’s energy regulator Aneel sent a statement to a group of solar developers that have committed to completing solar farms by 2017, denying their request for extensions of as long as two ...

  Bloomberg U.S. energy regulators fined trading firm Etracom LLC $2.4 million for engaging in a scheme to rig the California power market. Etracom, a trading company formed in 2008, violated anti-manipulation rules in May 2011 when traders artificially drove down power prices at a point on the grid in eastern central California to reap profits, the Federal Energy Regulatory ...

  Bloomberg Carmike Cinemas Inc. shareholders should vote against the proposed $1.1 billion takeover of the movie theater company by AMC Entertainment Holdings Inc., shareholder advisory firm Glass Lewis & Co. recommended in a note. Shareholders should vote against a proposal to approve the takeover as well as payouts to executives and authorization to adjourn a special meeting to give ...

    Dubai / Emirates Business NRS International, a Dubai-based family-run company that develops and manufactures products for the humanitarian aid, public health and development sectors, published the results of a survey which gauged the level of humanitarianism amongst UAE residents. NRS International sold 42 million relief essentials to UN and aid agencies to alleviate the suffering of 75 million ...

  Abu Dhabi / Emirates Business Abu Dhabi National Exhibitions Company (ADNEC) on Sunday announced a partnership with Europcar, the world-leading provider of vehicle rental services, to offer enhanced mobility to visitors of Abu Dhabi National Exhibition Centre (ADNEC). Under the agreement signed between Humaid Matar Al Dhaheri, Acting Group CEO of ADNEC and Mohammed Shabeeb Mohammed Hilal Al Dhaheri, ...

  Abu Dhabi / Emirates Business More than 400 children were taken by surprise when the Emirati artist and UN Goodwill Extraordinary Ambassador, Dr Hussain Al Jassmi walked into Ferrari World Abu Dhabi and greeted them as they were preparing for a special iftar at the Park’s popular restaurant, Mamma Rossella. This is the third consecutive year the children’s iftar ...

  Dubai / Emirates Business Dubai Electricity and Water Authority (DEWA) organised a range of activities during the Holy Month of Ramadan at the Reading is Positive Energy exhibition. These include lectures, seminars, poetry readings, awareness sessions, and other activities for anyone. DEWA launched the year-long exhibition last month in collaboration with Mohammed bin Rashid Al Maktoum Foundation, at Zabeel ...

  Sharjah / Emirates Business The stage is set for the region’s most anticipated shopping and entertainment extravaganza during the holy month of Ramadan – the Ramadan Village 2016. The Ramadan Village 2016 was inaugurated on Thursday, by HE Abdalla Sultan Al Owais, Chairman Sharjah Chamber of Commerce & Industry. The opening was attended Saif Mohammed Al Midfa, CEO, Expo ...