January, 2023

• 7 January

  Philippine president seeks faster main airport upgrade

    Bloomberg Philippine President Ferdinand Marcos Jr asked his Transport chief to fast track talks with suppliers of equipment needed in the upgrade of the nation’s main airport after a New Year’s Day power-supply problem disrupted flights. At a televised briefing, Marcos said he wants the Ninoy Aquino International Airport in Manila to have a reliable power backup system. The ...

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• 7 January

  Oatly jumps on production deal

    Bloomberg Oatly Group AB surged after announcing it will transfer leases and production capacity at two US facilities to Canadian manufacturer Ya YA Foods Corp — a bid to fix product shortages that have plagued the Swedish oat milk maker. The $98.1 million co-packing agreement, expected to close in the first quarter, will last 10 years and is part ...

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• 7 January

  Green lending tops fossil fuel as Big Oil gets cash elsewhere

  

    Bloomberg For the first time, more money was raised in the debt markets for climate-friendly projects than for fossil-fuel companies. Roughly $580 billion was arranged in 2022 for renewable energy and other environmentally responsible ventures, while the oil, gas and coal industries turned to lenders and underwriters for closer to $530 billion, according to data compiled by Bloomberg. But ...

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• 7 January

  RWE, Equinor to build hydrogen power plants

  

    Bloomberg RWE AG and Equinor AS said they would build hydrogen power plants, as well as a pipeline to send the fuel to Germany from Norway. The two countries will “accelerate the creation of a functioning hydrogen market, a value chain,” Norwegian Prime Minister Jonas Gahr Støre said in Oslo, where he met German Vice Chancellor Robert Habeck. The ...

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• 7 January

  Britain needs faster fix to leaky homes to curb high energy bills

  

    Bloomberg The UK is failing to do enough to improve energy efficiency, which is needed to curb struggling households’ soaring bills, a parliamentary committee found. Government ministers must prioritise upgrading the country’s leaky housing, the Environmental Audit Committee’s report said. That includes setting a goal of at least 1 million energy-saving improvements like insulation, solar panels or heat pumps ...

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• 7 January

  Chevron CEO defends record profits

    Bloomberg Chevron Chief Executive Officer Mike Wirth pushed back on claims by President Joe Biden that Big Oil’s record profits are being made on the back of the war in Ukraine and at the expense of the American people. The industry’s highest-ever cash haul should not be viewed in isolation because only three years ago it was “losing billions ...

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• 7 January

  Europe set for warmest January in years as gas crisis eases

  

    Bloomberg Europe is set for the warmest January in years, easing an energy crunch that has hammered the region for months. Mild conditions are likely to persist across the region until the end of the month, with a strong weather front blocking out cold polar air, according to forecaster Maxar Technologies Inc. While sparking climate concerns, the warmth over ...

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• 7 January

  Panasonic resists decoupling trend to boost China funding

  

  Bloomberg Panasonic Holdings Corp will boost its investment in China significantly, bucking the growing trend of foreign companies reducing their exposure to the country as geopolitical tensions rise and the domestic economy slows. The company will invest more than 50 billion yen ($373 million) in China through the end of 2024 to build and expand factories making home appliances for ...

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• 7 January

  Key China coal importer buys Australia cargoes

  

    Bloomberg One of China’s biggest coal importers struck a deal for Australian cargoes and others are already in talks for purchases as curbs on imports from the producer are eased. China Energy Investment Corp (CEIC) bought at least two shipments from Australia and may purchase as many as four cargoes, according to people with knowledge of the matter. The ...

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• 7 January

  Modi takes steps to allow Yale, Oxford to open India campuses

    Bloomberg India has taken a step towards allowing leading foreign universities such as Yale, Oxford and Stanford to set up campuses and award degrees as part of an overhaul of the South Asian nation’s higher education. Regulator the University Grants Commission unveiled a draft legislation for public feedback that seeks to facilitate entry and operation of overseas institutions in ...

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