Sharjah / WAM Sharjah-based Hamriyah Free Zone Authority (HFZA) signed an agreement to lease over half a million square feel to Alucor, an international engineering, procurement, and construction contractor. Under the agreement, Alucor leased 555,418 sq. ft of the inner harbor quayside land in the free zone to expand its operations in the region. Alucor was founded in the UAE ...

ABU DHABI / WAM Shuaa Capital, an asset management and investment banking platform in the region, announced that it has launched a $200 million “SHUAA Financing Opportunities Fund” targeting special situations in the GCC. The fund has already attracted a total of $68 million in commitments from investors. Following Shuaa’s recent success in the private credit space in deploying and ...

Bloomberg In a couple of years, Japan will be paying the highest rates in the world to incumbent power utilities simply for maintaining generation capacity, including coal and nuclear plants, to help meet electricity demand in times of scarcity. That windfall comes at a time when Japan is seeking to liberalise its market, encourage new entrants and boost the use ...

Bloomberg Total SE took a stake in a French floating wind farm project, its third investment in the nascent industry this year as the oil and gas giant reshapes itself for a low-carbon future. While wind farms built directly on the sea bed have become widespread and cost-competitive with other forms of energy, floating turbines that would allow clean electricity ...

Bloomberg A landmark law to strengthen European Union climate policies and make the 2050 goal of climate-neutrality irreversible risks falling off a fast-track approval process, as the bloc’s leaders take time to consider the economic impact of the unprecedented overhaul in the midst of the deepest recession on record. EU heads of government plan to discuss the draft measure at ...

The power of 27 countries against one is often cited as the reason why the European Union will prevail in Brexit negotiations with the UK. But the logic reverses when you think about what might happen to the City of London after Britain’s departure, and whether Europe’s other cities can challenge its primacy in finance. For financial services, having a ...

If you think your summer holidays were lackluster in an era of pandemic-induced staycations, spare a thought for the world’s airlines. The industry typically earns some 40% of its profits in the third calendar quarter alone, as the surge in travel gives carriers the chance to finally fill up planes at prices that can pay off their wage, fuel and ...

Covid-19 may do for Big Oil what the Chicxulub asteroid did for the dinosaurs when it struck Earth 66 million years ago. Much like the “terrible lizards,” Big Oil was already in decline before the novel coronavirus hit. The world in which they thrived is changing around them and they face multiple threats to their future health. But the outbreak’s ...

When the coherent half of the Republican ticket participated in the vice presidential debate, it was an opportunity for viewers to learn what the future holds. Yes, Vice President Mike Pence may be a talking-point machine, but to a debate audience that’s a more useful device than a random-lie generator. You can learn things from talking points. There’s only one ...

Bloomberg Malaysia Airlines Bhd is prepared to shut down if ongoing talks with leasing companies about a restructuring plan fail, The Edge Malaysia cited the national carrier’s chief executive officer as saying. A “sizable” number of creditors support the company’s plan, some are against it and others are still undecided, Izham Ismail told the business weekly in an interview. The ...