Abu Dhabi / WAM The Abu Dhabi Fund for Development (ADFD), approved an AED40 million concessionary loan for the development of a rural electrification project in Kalongo, Uganda. Mohammed Saif Al Suwaidi, Director-General of ADFD, and Ajedra Gabriel Gadison Aridru, Uganda’s Minister of State for Finance Planning and Economic Development, signed the loan agreement at the ADFD headquarters in Abu ...

Bloomberg India’s Oil and Natural Gas Corp., which once had $4.3 billion of funds, is now bleeding cash. The state-run company’s cash reserves have shrunk by more than 90 percent in the past year, after it was ordered to purchase the administration’s stake in a refiner and it paid a record dividend. ONGC’s reserves dropped to about 10 billion rupees ...

Bloomberg As the UK government works to exit the European Union, the nation’s electric utilities are working to get closer. Power already flows between the UK, France, Ireland and Northern Ireland through four interconnector cables, and work is under way to more than quadruple the capacity of those links. The cables will establish a stronger physical tie with the continent ...