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Bloomberg India’s factory output shrank to the lowest level in eight years, as a sharp fall in capital goods production underlined weak demand in Asia’s third-largest economy. The index of industrial production fell 4.3% in September, data released by the Ministry of Statistics showed. That compares with an estimate for a 2.5% contraction, and is the lowest since October 2011. ...
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November, 2019
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12 November
Delhi’s toxic air fuelled by rice fields that India doesn’t need
Bloomberg Each year India’s rice farmers burn the stubble of the harvested crop, contributing to an annual haze that damages the health of those in and around the capital. Yet the country is producing more rice than it needs thanks to government subsidies. Guaranteed prices have encouraged farmers to grow so much rice — one of the most water-intensive crops ...
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12 November
US’s SunPower quits manufacturing
Bloomberg SunPower Corp, one of America’s largest solar-panel makers, is giving up its manufacturing business to focus on installing rooftop solar systems. The company is spinning off its panel production operations into a new company, Maxeon Solar, that will be based in Singapore with factories in France, Malaysia, Mexico and the Philippines, according to a statement. As part of the ...
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12 November
Angola may seek power from Congo
Bloomberg Angola may buy as much as 5,000 megawatts from neighbouring Democratic Republic of Congo’s proposed $14 billion hydropower plant. In its current design, the Inga III dam would be the biggest hydropower plant in Africa, generating 11,050 megawatts. The two partners developing the project — one Chinese, one Spanish — submitted a joint proposal to the Congolese government last ...
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12 November
Kenya needs $15b for ‘power access’
Bloomberg East Africa’s largest economy needs between $15 billion and $18 billion to achieve all-round electricity access by 2022, according to Power For All, a global coalition of 200 private and public organisations campaigning for universal reach. “With almost $15 billion in investment into a suite of projects — geothermal, off-grid, energy efficiency, transmission — Kenya could achieve universal access ...
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12 November
Trump expected to delay car tariffs as Europe invests in US
Bloomberg The Trump administration may delay a decision on whether to slap tariffs on European automobiles after an intense lobbying campaign by German carmakers highlighted plans to shift global production to American suppliers, people familiar with the White House deliberations said. In May, President Donald Trump gave himself a deadline of mid-November to decide whether to impose levies on cars ...
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12 November
India venture is at risk of collapse: Vodafone CEO
Bloomberg Vodafone Group Plc’s Indian venture may be headed for liquidation unless the government eases off on demands for mobile spectrum fees, the phone company’s chief executive officer said. India’s top court ordered Vodafone Idea Ltd to pay $4 billion of fees linked to past frequency licenses last month. With another airwave auction approaching, Vodafone Idea already has $14 billion ...
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12 November
Microsoft’s privacy law covers whole US
Bloomberg Microsoft Corp said it will extend the “core rights†in California’s new privacy law to customers across the US and called for legislators to go further than the state provisions, which have sparked concern in industries from technology to retail. The announcement by the software giant comes as tech companies and trade groups are calling for a national privacy ...
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12 November
PG&E offering $13.5 billion in relief to wildfire victims
Bloomberg Bankrupt utility giant PG&E Corp is trying to offer $13.5 billion in compensation to the victims of wildfires sparked by its power lines as part of a restructuring plan, according to people with knowledge of the situation. In doing so, the San Francisco-based power company would be providing the same amount that a group of its creditors — led ...
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12 November
SpaceX launches next batch of 60 satellites
Bloomberg Space Exploration Technologies Corp launched its second batch of 60 Starlink satellite, taking another step towards Elon Musk’s vision to create a network for space-based broadband internet service around the world. One of SpaceX’s Falcon 9 rockets rumbled aloft at 9:56 am on local time from Cape Canaveral Air Force Station in Florida on October 11. The satellites deployed ...
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