June, 2018

• 2 June

  Abu Dhabi records 22% drop in traffic fatalities

  

  Abu Dhabi / WAM Abu Dhabi Police have announced positive results in traffic safety during the four months of the year with a reduction in general traffic accidents by 11 percent, fatalities by 22 percent, serious injuries by 14 percent and run-over deaths by 50 percent despite an 11 percent increase in the number of vehicles and 6 percent in ...

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• 2 June

  Dubai wins bid to host World Chambers Congress in 2021

  

  Dubai / WAM Dubai has won the bid to host the 12th World Chambers Congress (WCC) in 2021, which will see the participation of 14,000 chambers of commerce from 100 countries. The 12th WCC will be held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of ...

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• 2 June

  Shell markets gas with offset package as neutral for climate

  

  Bloomberg Royal Dutch Shell Plc is attempting to market some of its natural gas as clean energy, packaging it with credits for eco-friendly projects that offset pollution coming from the fuel. The oil giant is offering business customers in Europe a combination of gas and certificates that show emissions are offset with financing for carbon-reduction projects. It’s testing markets in ...

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• 2 June

  South Africa plans to add up to $4bn of renewables

  

  Bloomberg South Africa plans to invite bidders for additional renewable power projects that may amount to as much as 50 billion rand ($4 billion) of investment and help stimulate local and black-owned business. The fifth bid window for 1,800 megawatts of renewable projects under the government’s independent power producers program will start in November, according to a copy of Energy ...

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• 2 June

  US gas caps biggest May gain since 2010 as deficit sticks

  Bloomberg US natural gas futures are having their best May rally since 2010 as hot weather boosts demand for the power plant fuel, slowing efforts to refill depleted inventories. Prices rose to a four-month high after the Energy Information Administration reported inventories rose by 96 billion cubic feet last week to 1.725 trillion. The median estimate by analysts predicted a ...

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• 2 June

  Enel wins bidding war for $2bn Brazil utility

  

  Bloomberg Italian power giant Enel SpA won a highly contested multibillion-dollar battle for AES Corp.’s Brazilian utility in a move that will more than double its presence in the country’s electricity distribution market. Enel’s 45.22 reais-a-share ($12.14) offer for Eletropaulo SA topped a final one by leading rival Iberdrola SA of Spain in sealed bids opened on the Sao Paulo ...

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• 2 June

  GE chooses bidders for gas-engine business sale

  Bloomberg General Electric Co. is moving closer to a sale of its industrial gas-engine business for more than $3.5 billion after narrowing the list of bidders, according to people familiar with the matter. Manufacturers Cummins Inc. and Kohler Co., as well as a group comprised of investment firms KKR & Co. and B&C Industrieholding GmbH, advanced to the next round ...

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• 2 June

  Beijing faces consequences over South China Sea moves: Mattis

  

  Bloomberg US Secretary of Defense James Mattis said the world have to deal with China’s militarisation of the South China Sea for now, but that Beijing would face “larger consequences” in the long term that could persuade it to change track. Beijing’s deployments of missile batteries and bombers to outposts in disputed areas appear aimed at intimidating neighbours, Mattis told ...

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• 2 June

  Trump eases tone on N Korea with S’pore summit back on

  

  Bloomberg President Donald Trump conceded that North Korea won’t agree to immediately give up its nuclear weapons as he confirmed his June 12 summit with Kim Jong Un will go ahead. In a scene that would have been difficult to imagine even a few months ago, Trump walked former North Korean spy chief Kim Yong Chol to his black SUV ...

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• 2 June

  All change in Italy, Spain as leaders grab reins of power

  

  Bloomberg Spain’s new leader began harnessing the unlikely forces that brought him to power while a populist government took over in Italy, capping a week of political drama that sent financial markets into turmoil as the future of the euro region again rose to the fore. In Madrid, Socialist leader Pedro Sanchez was sworn in by King Felipe VI as ...

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