Classic Layout

Petronas new LNG facility to be operational in 2020

  KUALA LUMPUR / Reuters Malaysian state-owned oil firm Petroliam Nasional Bhd said on Sunday its second floating liquefied natural gas (LNG) facility will be operational in 2020. Petronas loaded its first cargo from the Petronas Floating LNG (PFLNG) 1 in east Malaysia last month, becoming the first company to produce LNG from a floating production unit. The second one ...

Read More »

China reserves rise third month on capital control

  Bloomberg China’s foreign-exchange reserves rose for a third month in April, beating estimates, as tighter capital controls kept money from flowing out of the country and the yuan was stable. Reserves climbed $20.45 billion to $3.03 trillion, the People’s Bank of China said on Sunday, compared with a median estimate of $3.02 trillion in a Bloomberg survey of economists. ...

Read More »

West Australia to get $1.7bn budget road, rail package

  Bloomberg Western Australia will get a A$2.3 billion ($1.7 billion) road-and-rail infrastructure package in this week’s federal budget, the national government said on Sunday. A little over half of the funds will be spent on the state’s Metronet rail project, with the rest to pay for smaller road and bridge projects. About A$1.86 billion of the money will come ...

Read More »

Japan’s labour shortage prompts reversing shift to ‘temporary workers’

  Bloomberg Japan’s tightest labor market in decades shows signs of reversing a long shift toward the hiring of temporary workers. The number of full-time, permanent workers is rising for the first time since the global financial crisis, outpacing growth in temporary jobs over the past two years. “The labor shortage has become so bad that companies can’t fill openings ...

Read More »

Hong Kong trims power returns to 8 percent

  Bloomberg Hong Kong will cut the size of returns its power utilities are allowed to make to 8 percent under a 15-year plan it hopes will help wean the city off coal while keeping electricity bills down. CLP Holdings Ltd. and HK Electric Investment Ltd. signed a new so-called Scheme of Control with the government after more than a ...

Read More »

Turning plastic to oil, UK startup sees money in saving oceans

  Bloomberg At a garbage dump about 80 miles west of London, Adrian Griffiths is testing an invention he’s confident will save the world’s oceans from choking in plastic waste. And earn him millions. His machine, about the size of a tennis court, churns all sorts of petroleum-based products — cling wrap, polyester clothing, carpets, electronics — back into oil. ...

Read More »

Telia sells $500mn Turkcell stake

  Bloomberg Telia AB sold about $500 million worth of stock in Turkcell Iletisim Hizmetleri AS, making progress on a vow to focus on its home region as it reduces its holding in an investment tied up in a decade-long ownership feud. Stockholm-based Telia agreed to sell 155 million shares in Turkcell to institutional investors in an accelerated offering, the ...

Read More »

BlackRock’s iron grip on Europe bond ETFs defies competition

  Bloomberg Competitors to BlackRock Inc. are trying to loosen the investing giant’s stranglehold on Europe’s $153 billion bond exchange-traded fund market. They’re struggling to make much headway. The company’s market share has increased in recent years to 67 percent, data from Morningstar Inc. show, even as competitors add new funds and offer low fees. Rivals are being stymied because ...

Read More »
Send this to a friend