June, 2020

• 27 June

  Blockchain will let you track salmon from sea to dinner plate

  

  Bloomberg Consumers around the world will soon be able to know intricate life details of salmon they eat with a new blockchain initiative from top exporter Norway. The Norwegian Seafood Association has partnered with International Business Machines Corp. and technology provider Atea ASA to gather data on how salmon is bred, stored and shipped, information that consumers will eventually access …

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• 25 June

  Oil extends declines over virus resurgence fears

  

  Bloomberg Oil extended declines after swelling US crude stockpiles and a surge in coronavirus cases across the nation raised concerns about demand in the world’s largest economy. Futures in New York slipped 2.3% towards $37 a barrel, after the biggest fall in almost two weeks in the previous session. The fear of new lockdowns sent US gasoline futures tumbling by …

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• 25 June

  India plans high tariffs, strict rules on Chinese imports

  

  Bloomberg India plans to impose stringent quality control measures and higher tariffs on imports from China, people with the knowledge of the matter said, as a military standoff between the neighbours threaten economic ties. The state-run Bureau of Indian Standards is finalising tougher norms for at least 370 products to ensure items that can be locally produced aren’t imported, the …

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• 25 June

  UAE, Romania keen to boost investment ties

  

  BUCHAREST / WAM The UAE Ambassador to Romania, Dr Ahmed Abdullah Saeed Al Matroushi, has met with Romanian State Secretary for Global Affairs and Diplomatic Strategies at the Ministry of Foreign Affairs, Cornel Feruta, and discussed enhancing relations between the two countries. During the meeting, which was held at the ministry’s premises in Bucharest, the two sides explored means of …

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• 25 June

  Ukraine unlikely beneficiary of Europe’s natural gas glut

  

  Bloomberg European natural gas traders are storing more gas than ever in Ukraine as sites closer to home are rapidly filling up. Storage sites on the continent, ranging from old salt caverns to huge overground tanks, are fuller-than-normal after two mild winters and the plunge in demand caused by the pandemic. The unprecedented glut means prices are languishing near record …

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• 25 June

  Spain’s Iberdrola scraps $1.2bn power project

  

  Bloomberg Spain’s Iberdrola SA is canceling a project in Mexico to build a $1.2 billion combined-cycle plant because it can’t secure a supply of natural gas, according to Mexican officials. The mayor of Tuxpan, Juan Antonio Aguilar, said in an interview that representatives of Iberdrola told him that it’s scrapping the project in his city because in nine months it …

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• 25 June

  Oil firms shutting off rigs across US shale

  Bloomberg Oil exploration shrank for a 14th straight week in US fields amid weak crude prices and skepticism about a recovery in energy demand. Drillers idled 10 oil rigs in onshore US fields this week, bringing the total to 189, according to data released by Baker Hughes Co. Despite this week’s rise in crude prices to a three-month high around …

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• 25 June

  Europe’s coal heartland hottest market for renewable power

  

  Bloomberg As Europe prepares a multi-billion-dollar blitz to cut greenhouse gas emissions, a race is on to cash in on the green transformation of the nation with the region’s most polluting power plant. Poland, which currently relies on coal for more than 70% of its electricity generation, is stepping up efforts to replace the dirty fuel with renewable energy. As …

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• 25 June

  California’s ‘secret’ is threatening its climate

  

  Bloomberg In a parched and dusty patch of land in California’s central valley, a series of wells has been pumping out some of the state’s dirtiest crude oil. Almost a century after the Chico-Martinez oilfield was first opened about 145 miles north of Los Angeles, it is still producing heavy crude. But to do it, drillers have turned to techniques …

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• 25 June

  South Africa mulls selling ‘green bond’

  Bloomberg South Africa’s government is considering selling a green infrastructure bond worth tens of billions of rand as part of its biggest drive ever to kickstart private investment in projects ranging from energy to water reticulation. The proposed instrument is one of several mechanisms the country could use to raise finance for projects worth as much as $86 billion over …

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