Regional News

Dubai / Emirates business Under the patronage of HE Prof Abdulrahman Obaid AI-Youbi, an agreement was signed between King Abudlaziz University and Zamil Offshore. The agreement was signed by the Dean of the Faculty of Maritime Studies Dr. Hattan Timraz and Mr. Mazen S Al Harbi Chief of Human Resources of Zamil Offshore. The cooperation agreement signed between the two ...

Bloomberg A big trading scandal was the last thing Nasdaq Inc.’s Nordic power market needed. Once the kingpin of European electricity trading, activity on the world’s oldest power market is languishing at its lowest level since 1999 after some of the biggest banks, hedge funds and industrial consumers deserted the market as tougher regulation made buying and selling too expensive ...

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 ...

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 ...

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 ...

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 ...

Bloomberg After supplying Europe’s biggest economy with natural gas for more than four decades, Norway is preparing to defend its share as the world’s biggest producers all vie for a larger slice of the $21 billion market. Russia began building a second giant pipeline to Germany and US President Donald Trump is turning up the rhetoric in an attempt to ...

Bloomberg Crude climbed to $80 a barrel in London for the first time since May amid signs that global supplies are shrinking. Brent futures rose as much as 1.4 percent on Wednesday, while the US crude benchmark added as much as 2.9 percent. US efforts to isolate Iran have disrupted shipments from OPEC’s No. 3 supplier at the same time ...

Bloomberg Flynas said it will soon start recruiting Saudi women to work as co-pilots. The Riyadh-based airline said it will be the first among Saudi carriers to recruit women in senior positions. The move aims to enable Saudi women to have a greater role in supporting the kingdom’s economy, CEO Bandar Almohanna said. Under Crown Prince Mohammed Bin Salman, Saudi ...

Bloomberg AutoGrid Systems Inc., a California company developing software to manage power on the grid, said it closed a $32 million round of financing as it expands in North America, Asia and Europe. The Series D round included new investors CLP Holdings, Germany utility Innogy SE, Danish renewable power developer Orsted A/S and power producer Tenaska, according to a statement ...