Abu Dhabi / WAM Nawah Energy Company, the Joint Venture nuclear operations and maintenance subsidiary and Korea Electric Power Corporation (KEPCO) announced on Wednesday that the reactor of Unit 1 of the Barakah Nuclear Energy Plant has achieved 80 percent of the Unit 1 reactor’s rated capacity power. The milestone is an important step in the ongoing Power Ascension Testing ...

DUBAI / WAM Upon the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to ensure government integration and interoperability towards architecting the country’s future and charting its comprehensive development plan for the next fifty years, the UAE government have held consultation meetings that focussed on the future of health and ...

Bloomberg Keystone XL is receiving an investment from Canadian indigenous groups in a deal that TC Energy Corp hopes will help save its embattled oil pipeline project from being scrapped by US President-elect Joe Biden. Natural Law Energy, a group of five first nations in Alberta and Saskatchewan, will make an equity investment of as much as C$1 billion ($765 ...

Bloomberg Perenco is in talks to become the main operator in one of four oil and gas producing blocks in Ivory Coast, according to two people familiar with the matter. The Anglo-French oil company is seeking to buy a controlling stake in block CI-11, currently operated by a consortium that includes the state-run company Petroci, which has a 68% stake. ...

The last two US presidents repeatedly stretched the powers of their office to set policies that Congress had refused to enact. Instead of following their example, President-elect Joe Biden should work with Congress to bring the branches of the federal government to a better balance. President Barack Obama’s most controversial executive actions were his unilateral decisions to grant work permits ...

China’s next move to open up its commodities markets may be a step change. As of Thursday, overseas investors will be able to trade copper futures on the Shanghai International Energy Exchange. It’s not the first such product: A yuan-denominated crude oil contract, launched in March 2018, has been modestly successful. A subsequent push to let foreigners trade iron ore ...

The junk bond market’s magic number is 4.56. First, the average yield for the Bloomberg Barclays US corporate high-yield index plunged the most in seven months to 4.56% on November 9, easily breaking the previous all-time low of 4.83% set in June 2014. Then, data compiled by Refinitiv Lipper found that investors poured $4.56 billion into US high-yield bond funds ...

Another Indian bank has failed, the third collapse of a major deposit-taking institution in 15 months and the first since the onset of the coronavirus pandemic. But instead of allowing a zombie lender to linger after a half-baked rescue, the central bank has wisely decided to put Lakshmi Vilas Bank Ltd out of its misery. Better still, it’s called upon ...

Bloomberg The US Securities and Exchange Commission (SEC) is pushing ahead with a plan that threatens to kick Chinese companies off US stock exchanges, setting up a late clash between Washington and Beijing as the Trump administration winds down. By the end of this year, the SEC intends to propose a regulation that would lead to the delisting of companies ...

Bloomberg Prime Minister Narendra Modi is keen to attract foreign investment to modernise India’s urban centers as the world’s second-most-populous nation rebuilds its economy after the coronavirus pandemic halted activity. Covid-19 has given governments the chance to accelerate the “process of making cities more livable for people,” Modi said in his speech at the Bloomberg New Economy Forum. “We are ...