Regional News

Bloomberg Egypt’s biggest outsourcing services provider, Raya Contact Center, is expanding as economic growth rebounds and a weaker currency makes it more competitive. The Cairo-based company, which operates offshore call centers and offers other corporate services, added about 1,000 workstations this year, compared to a previous annual average of 400 workstations, Chief Executive Officer and Managing Director Reem Asaad said. ...

Bloomberg Coronado Global Resources Inc., a miner backed by private equity firm Energy & Minerals Group, and current investors are seeking to raise as much as A$1.4 billion ($1 billion) in what would be Australia’s largest coal initial public offering. The company and existing holders are offering Chess Depository Interests at A$4 to A$4.80 each, according to a prospectus lodged ...

Bloomberg The debacle over Canada’s oil pipeline nationalisation and trade tensions with the US won’t affect the final investment decision on Royal Dutch Shell Plc’s C$40 billion ($31 billion) liquefied natural gas project, according to the head of the venture. Shell-led LNG Canada proposes to export as much as 26 million tons per year to Asia, making it potentially the ...

Bloomberg Neoen SA, the renewable energy project developer controlled by French billionaire Jacques Veyrat, plans to raise about $525 million in an initial public offerin. The company will use the proceeds to fund its plans to add capacity at its power plants, Paris-based Neoen said.

Bloomberg Floodwaters have overwhelmed an ash basin at a Duke Energy Corp. power plant in North Carolina, spilling a byproduct of burning coal into the Cape Fear River. The company said coal ash at the site “remains in place” but that tiny beads called cenospheres are flowing into the river. The hollow beads, left over from burning coal, are comprised ...

Bloomberg Enbridge Inc. agreed to acquire the shares it doesn’t already own in three North American units for about $7.1 billion as the Canadian pipeline giant moves to simplify its corporate structure. The rollup of the so-called master limited partnerships will bring all of Enbridge’s core liquids and natural gas assets under the umbrella of a single publicly traded entity ...

Bloomberg The cost of delivering world trade is about to go up. A.P. Moller-Maersk A/S, the world’s largest container shipping line, said that customers using its giant box ships will have to pay separately for fuel from 2020, when prices are expected to surge because of tougher environmental standards. The regulations are designed to cut down emissions of sulfur, a ...

Bloomberg Saudi Arabia’s sovereign wealth fund raised an $11 billion loan, marking its first-ever borrowing. The loan was larger than initially planned due to strong interest from banks and establishes a core banking group for the Public Investment Fund to work with on future deals, the fund said. “This is the first step in incorporating loans and debt instruments into ...

Bloomberg New Jersey is taking a step closer to erecting wind turbines off the coast of some of its most storied beaches. State regulators are about to consider Governor Phil Murphy’s proposed solicitation for 1.1 gigawatts of offshore-wind farms. The process was expected to begin on September 17, subject to approval by the state’s Board of Public Utilities, Murphy said ...

Bloomberg More than half of South Africa’s core coal plants are running low on fuel, with at least four holding less than 10 days of supply, and the country’s power utility plans on trucking and railing emergency stocks as far as 400 kilometres (249 miles). State-owned Eskom Holdings SOC Ltd. has 15 around-the-clock baseload coal stations throughout the nation, nine ...