Bloomberg Uganda, which plans to produce and refine its own oil, said it will require as much as $70 million to construct a storage facility for refined products on the outskirts of the capital, Kampala. The East African country will initially build storage with capacity for 60,000 cubic meters that it may upgrade to 138,000 cubic meters if there’s demand, ...

Bloomberg Iraq is pumping oil at normal levels even as protests spread across the southern region from where OPEC’s second-biggest producer exports most of its crude, according to a government spokesman. “Production and exports from southern Iraq are stable as per normal levels,” Oil Ministry spokesman Asim Jihad said by phone. Authorities have deployed security forces to protect energy fields ...

Bloomberg Renewable-power contracts fr-om Boralex Inc and Invenergy LLC are among those targeted for cancellation by Ontario Premier Doug Ford, who’s working to terminate or wind down more than 750 contracts in a revamp of the province’s energy policies. The list of contracts in Ford’s crosshairs includes one with the 50-megawatt Otter Creek Wind Farm in western Ontario, which is ...

Bloomberg UK house prices fell for the first time in seven months as sellers adapted to the reality of the weaker market. Asking prices slipped 0.1 percent in July from a month earlier, property website Rightmove said on Monday. In London, prices slipped 0.5 percent, with smaller apartments falling faster than bigger homes. The reduction in asking prices can “be ...

Bloomberg The biggest Nordic banks expect to launch a new piece of financial infrastructure next year, promising to dramatically speed up international transfers in one of the world’s most technologically advanced regions. The aim is to make it possible to clear payments and settle accounts within seconds, regardless of currency. The P27 project — so-called for the 27 million people ...

Bloomberg After US moves on global trade policy that have shredded decades of trust, watch out for deals to be struck before the midterm elections in November, Citigroup Inc. said, flagging a potential rebound in commodity prices towards the year-end that’s aided by still-robust fundamentals. “US trade actions have been brutal and unilateral and have punctured the trust built up ...

Bloomberg Deutsche Bank AG surprised investors with second-quarter earnings that were higher than analysts had expected, driving one of Europe’s worst-performing bank stocks up the most in more than a year. The Frankfurt-based bank sees net income of about 400 million euros ($468 million) and income before income taxes of about 700 million euros, “considerably” above estimates. The preliminary results ...

Bloomberg BlackRock Inc. and Schroders Plc are the frontrunners to oversee about 109 billion pounds ($144 billion) for Lloyds Banking Group Plc, one of the biggest mandates of its kind, people with the knowledge of the process said. A decision by the London-based bank is expected in the third quarter, said the people who asked not to be identified because ...

Bloomberg With interest rates rising and borrowers keeping up on payments, bank shareholders want to see which lenders are taking advantage. One big firm is hanging back. Wells Fargo & Co., under the thumb of a regulatory asset cap, rattled investors by posting the only decline in loans as the top US banks began reporting quarterly results. While JPMorgan Chase ...

Bloomberg Airbus SE kicked off its sales campaign at this year’s biggest air show by announcing $9.2 billion of orders from Asian carriers that are augmenting their fleets to meet surging demand for air travel in the region. Taiwanese startup StarLux Airlines said it is buying 12 A350-1000 aircraft and five of the smaller A350-900s in a deal valued at ...