October, 2018

• 7 October

  Dewa awards AED93 million contracts for 990 transformers

  Dubai / WAM Dubai Electricity and Water Authority (Dewa) has awarded contracts to design, manufacture, test and supply 11/0.4KV, 1500KVA & 1000KVA Cast Resin Distribution transformers with LV Smart Meters to various leading international transformer manufacturers. The total cost of the 990 transformers is worth around AED 93 million. This supports DEWA’s ongoing efforts to meet various requirements to expand ...

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• 7 October

  Dubai Customs receives 11th Arabia CSR award

  

  Dubai / WAM Dubai Customs won first place in the 11th Arabia CSR Awards under the Public Sector Category in recognition of its efforts to demonstrate outstanding leadership and commitment to corporate sustainability. The award, organised by the Arabia CSR Network, saw the participation of more than 800 organisations, representing 31 sectors from 13 Arab countries. By taking advantage of ...

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• 7 October

  FNC, Bahrain to strengthen cooperation

  Abu Dhabi / WAM Ahmed Shabib Al Dhaheri, Secretary-General of the Federal National Council (FNC), on Sunday met at the FNC’s headquarters in Abu Dhabi, a joint delegation from the Bahraini Shura Council and the Supreme Council of Women of Bahrain. During the meeting, both sides discussed the means of strengthening their cooperation, coordination and partnership, as well as their exchange ...

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• 7 October

  UAE hands over chairmanship of Aregnet to Bahrain

  

  Dubai / WAM The Telecommunications Regulatory Authority (TRA), represented by Hamad Obaid Al Mansoori, TRA Director-General, participated in the 16th Annual Meeting of the Arab Regulators Network of telecommunications and information technologies (Aregnet), which was held in Bahrain based on the decisions of the 15th Aregnet meeting, which was hosted by the UAE in Abu Dhabi in September 2017. As ...

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• 7 October

  On-and-off wind, solar power pushes coal plants to the brink

  

  Bloomberg The Gentleman coal plant was once the linchpin of Nebraska’s electricity grid, its twin smokestacks visible for miles across the prairie. Now, the state’s biggest power source is routinely pushed aside to make room for more wind and solar energy. Operators ramp it down and then bring it back up again, often on a daily basis. That’s not how ...

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• 7 October

  After $600 million hit, India oil refiners may face further pain

  

  Bloomberg The worst may not be over for India’s state-run oil refiners. The request by the central government that they absorb a portion of sweeping fuel price cuts is raising speculation by analysts at Goldman Sachs Group Inc., Citigroup Inc. and Jefferies Group LLC that price controls may be reintroduced or further reductions will be demanded. The move comes amid ...

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• 7 October

  Less wind in Europe to bring back dirty plants

  

  Bloomberg Europe will likely need more coal and natural gas this month as the region is spared the usual autumn storms. A high pressure weather system is likely to reroute and block stormy weather that normally travels in easterly paths across northern Europe to boost the output from thousands of wind mills. That will leave the region relying on alternative ...

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• 7 October

  Singapore companies on global acquisition spree

  

  Bloomberg Singapore Inc. is stirring, with companies from real estate to engineering becoming bolder in their hunt for acquisitions abroad. Companies in the city-state announced around $91 billion of overseas deals this year through September, more than double the $41.9 billion of transactions for the same period of 2017, data compiled by Bloomberg show. Temasek Holdings Pte and GIC Pte ...

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• 7 October

  Malaysia cuts cost of ‘mass-transit’ project

  

  Bloomberg Malaysia intensified its efforts to rein in spending by reducing the cost of an almost $14-billion mass-rapid transit project, as Prime Minister Mahathir Mohamad reviews programs he says his predecessor kicked off under unfair terms. The Finance Ministry shaved 5.22 billion ringgit ($1.3 billion) from the above-ground portion of the nation’s MRT2 project, accepting a new construction tender by ...

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• 7 October

  China’s foreign-currency reserves drop to $3trn

  

  Bloomberg China’s foreign-currency holdings fell in September, as heightened trade tensions with the US fueled concerns of capital outflow and further yuan depreciation. Reserves declined by $22.69 billion to $3.087 trillion in September, the People’s Bank of China (PBOC) said on Sunday. That compares with $3.110 trillion the previous month and the median estimate of $3.105 trillion in a Bloomberg ...

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