May, 2018

• 16 May

  DFSA expands its fintech innovation testing programme

  

  Dubai / WAM The Dubai Financial Services Authority (DFSA), on Wednesday announced the expansion of its Innovation Testing Licence (ITL), programme in response to continued interest in FinTech and the digital economy. The ITL programme enables firms to test innovations in financial technology, FinTech, in or from the Dubai International Financial Centre (DIFC). Six companies will form a new Cohort (Cohort 1) ...

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• 16 May

  IEA cuts 2018 global oil demand forecast as $70 crude takes a toll

  

  Bloomberg The International Energy Agency cut forecasts for global oil demand growth in 2018 as the highest prices in three years put a brake on consumption. “The recent jump in oil prices will take its toll,” said the Paris-based agency, which advises most major economies on energy policy. Crude has climbed 17 percent this year, trading near $78 a barrel ...

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• 16 May

  Repsol ends hunt for oil growth in clean energy shift

  

  Bloomberg Repsol SA will no longer seek growth for its oil and gas business in preparation for the global transition to cleaner energy, according to a person familiar with the matter. The Spanish energy company is the first of its peers to make such a move. It illustrates how the industry’s strategic decisions are starting to be influenced by emissions ...

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• 16 May

  Green investing in UK falls to lowest in decade on Brexit

  

  Bloomberg Green investing in the UK fell 56 percent last year, sparking concerns in Parliament that the nation will not maintain its lead in clean energy or meet climate targets after leaving the European Union. “Billions of pounds of investment is needed in clean energy, transport, heating and industry to meet our carbon targets,” said Mary Creagh, a member of ...

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• 16 May

  Alberta pipeline disrupted as fire season begins

  Bloomberg Wildfire season in Alberta began with a blaze that cut power to a key pipeline in the oil sands, causing heavy crude prices to surge. Inter Pipeline Ltd. is in the process of restoring service to parts of its Polaris Pipeline system after power was cut to the line’s Lamont Station, the company said. The line, which carried 194,000 ...

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• 16 May

  One-fourth of US N-fleet is at risk of early closure

  

  Bloomberg More than a quarter of US nuclear power plants don’t make enough money to cover their operating costs, raising the threat of more early retirements. Of the 66 nuclear power plants operating in the US, 24 are either scheduled to close or probably won’t make money through 2021, according Nicholas Steckler, an analyst with Bloomberg New Energy Finance. These ...

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• 16 May

  Ivory Coast nears $530mn thermal-power plant deal

  Bloomberg Ivory Coast is close to completing a deal with the local unit of France’s Eranove SA for the construction of a thermal-power plant that could expand the country’s generation capacity by almost a fifth, according to two people familiar with the matter. The 300 billion CFA franc ($530 million) gas-fired facility will be owned by Cie Ivoirienne de Production ...

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• 16 May

  Euro zone braces for month of truth from data in ECB prelude

  

  Bloomberg European officials aren’t letting a first-quarter slowdown undermine their confidence in the economy, but an upcoming round of numbers may test their view that the winter blues will pass. Descriptions by various European Central Bank policy makers have ranged from solid to robust and strong when asked about the recent performance. Even after Germany, the euro area’s economic engine, ...

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• 16 May

  BT offers bundles in bid to lift investor sentiment

  

  Bloomberg BT Group Plc, still reeling from an outlook for falling profits delivered last week, is counting on a slew of new consumer offerings to lift investor sentiment. The UK’s former phone monopoly is pulling the trigger on its unique ability to offer packages of mobile and landline services, two years after the 12.5 billion-pound ($16.9 billion) acquisition of mobile ...

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• 16 May

  Lumber prices reach US record on tight supply

  

  Bloomberg The lumber market is red-hot, with futures rising to another record thanks to a confluence of import tariffs, transport bottlenecks and strong housing demand. The futures rose 1 percent to close at $619 per 1,000 board feet on the Chicago Board of Trade. They’ve surged 66 percent in the past 12 months, a bigger gain than any of the ...

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