January, 2022

• 22 January

  Cyprus condemns Houthi attacks on Abu Dhabi

    AL AIN / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, received a phone call from Ioannis Kasoulides, Minister of Foreign Affairs of Cyprus. The Cypriot top diplomat affirmed his condemnation and denunciation of the terrorist attack by the terrorist Houthi militia on civil facilities in the UAE. He also affirmed ...

  Read More »
• 22 January

  Enec co-hosts 4th edition of E-Fusion at Expo 2020 Dubai

  

    Dubai / WAM The Emirates Nuclear Energy Corporation (Enec) and the French Nuclear Industry Group (Gifen) co-hosted the 4th edition of E-Fusion (Emirati-French Industrial Supply Chain Initiative for Nuclear), held as part of the French Nuclear Energy Day at the French pavilion at Expo 2020 Dubai. Representatives from local and international nuclear industry companies, government officials and energy experts ...

  Read More »
• 22 January

  China installed record amount of rooftop solar panels in 2021

  

    Bloomberg China put a record number of solar panels on rooftops last year as growth in residential areas outpaced installations on solar farms. A total of 53 gigawatts of solar capacity was built in 2021, close to the all-time high set in 2017, with more than half coming from rooftop installations, according to the National Energy Administration (NEA). China ...

  Read More »
• 22 January

  India’s electricity firm looks to coal imports

  

    Bloomberg India’s largest electricity producer is stepping up a campaign of coal imports as the nation seeks to avoid a new power crunch. State-run NTPC Ltd. has sought about 10 million tons of overseas coal since it issued its first international tender in two years in October, according to documents posted on its website. The reversal after years of ...

  Read More »
• 22 January

  Italy considers $4.5bn to fight soaring power bills

    Bloomberg Italy’s government is readying as much as 4 billion euros ($4.5 billion) to offer immediate help to consumers hit by energy prices, while it works on a wide range of longer term measures, people familiar with the matter said. The aid won’t require parliament to authorize fresh debt, and can rely instead on other revenue streams such as ...

  Read More »
• 22 January

  Japan’s LNG inventories fall to 7-month low

    Bloomberg Japan’s liquefied natural gas (LNG) inventories slumped to a seven-month low as colder weather increased demand and Europe hoarded shipments of the super-chilled fuel. LNG shipments — particularly those exported from US projects — are rerouting from Asia to Europe to take advantage of more attractive prices. That’s leaving less supply for Asian importers, and the cargoes that are ...

  Read More »
• 22 January

  UK likely to wait until March to announce help on energy bills

  

    Bloomberg The UK government will probably wait until March to announce measures to help consumers facing record bills amid the nation’s worst energy crisis in decades. Chancellor Rishi Sunak is due to give an outlook for the economy and public finances in his Spring Statement on March 23. It would be “unusual” for any aid to be announced by ...

  Read More »
• 22 January

  Amazon’s legal tangles in India are a cautionary tale

  

    What should be an ordinary commercial dispute between Amazon.com Inc and the founders of a near-bankrupt retailer is shining a harsh light on the quality of legal and regulatory protection investors actually receive in India. The long drawn-out saga has thrown up two questions for prospective investors, or those who already have business interests in India. First, what does ...

  Read More »
• 22 January

  Unilever still has to transform itself

  

  Some things just don’t last long. On January 19, consumer goods giant Unilever Plc walked away from a deal that came to light just over the weekend. It declined to increase its 50 billion-pound ($68.2 billion) proposal to buy GlaxoSmithKline’s Plc’s consumer health arm. Citing financial discipline is an elegant way for Chief Executive Officer Alan Jope to extract himself ...

  Read More »
• 22 January

  Maybe the next Archegos won’t be such a big surprise

  

    Back in March, an investment fund called Archegos Capital Management collapsed after building up vast derivatives bets on several stocks, precipitating billions of dollars in losses for its lenders. The incident raised a troubling question about the country’s financial early-warning system: How could regulators have remained unaware of such a large concentration of risk until it was too late? ...

  Read More »