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South Africa signs power contracts with Norway’s Scatec after one year

  Bloomberg South Africa made some progress toward adding new generation to its underpowered electricity grid, signing power purchase agreements for 150 megawatts of capacity from private projects by developer Scatec ASA that were selected a year ago. The government’s emergency power program, also known as the risk mitigation program, has experienced multiple delays as the nation heads for a ...

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Congo sees surge in mining of metals for green-energy transition

  Bloomberg Democratic Republic of Congo could see about 10 new mines for metals key to powering the green-energy transition within four years, according to the director of the country’s mining registry. About 500 of the nation’s mining permits are in advanced development and will soon lead to new projects for lithium and cobalt — battery metals driving the electric ...

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China electric car sales rose in May

  Bloomberg China’s legion of electric carmakers appear to be shaking off the worst of the nation’s lockdown-induced supply chain snarls and parts shortages, with at least four selling over 10,000 vehicles last month. The May bounce back in deliveries is an encouraging sign for the world’s biggest electric-vehicle market. The improved month-on-month shipments came despite residents of Shanghai — ...

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India can’t afford to lose world’s trust on trade

Indian Prime Minister Narendra Modi often speaks of “trusted” supply chains. At the G-20 last year, he said that global supply chains depend upon “trust, transparency, and timeframes”; he’s made a similar pitch for Japan, the United States and Australia to “trust” India as a trade partner. And he’s right: The only chance that countries such as India have to ...

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Is Singapore Air’s flight to India ready?

Singapore Airlines Ltd’s long-delayed flight to India may finally be ready for takeoff. As travel resumes and the carrier moves past the record annual loss it was reporting around this time last year, Chief Executive Officer Goh Choon Phong wants to pursue a multi-hub strategy, one in which airlines owned by it will benefit from aviation demand outside of Singapore. ...

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What JPMorgan’s CEO learned from Greenspan

  Look past the fracas about Jamie Dimon’s shifting prognosis for the US economy — from cautious optimism a week ago to warning of an imminent “hurricane.” What matters is that a titan of American finance is prepared to say what too few have over recent decades: Domestic conditions can look pretty good, until they’re quickly undercut by adverse events ...

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Shareholders’ support helps Singapore Air beat pandemic

  Bloomberg The day after Wuhan went into a lockdown in January 2020, Singapore Airlines Ltd Chief Executive Officer Goh Choon Phong called a crisis meeting at Airline House, the company’s massive, factory-like headquarters at the end of Changi Airport’s runways. The question to be answered: How bad is this going to be? Within weeks, as China locked down more ...

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Alibaba replaces Lazada CEO in SE Asia shakeup

  Bloomberg Alibaba Group Holding Ltd replaced Lazada Group Chief Executive Officer Chun Li with the head of its Thailand business and one-time business assistant to Alibaba CEO Daniel Zhang as competition in Southeast Asia intensifies. James Dong, 42, is taking the reins of Lazada, Alibaba’s Southeast Asian arm, with immediate effect while Li will serve as adviser to Lazada ...

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