September, 2017

• 10 September

  UPC made huge strides in housing, infra projects in 2016

  Abu Dhabi / WAM The Abu Dhabi Urban Planning Council (UPC), published its 2016 Annual Report, detailing some of its biggest achievements, which have kept the emirate on course to reach objectives outlined in the Abu Dhabi Plan. Last year, the UPC made huge strides in important projects for national housing, infrastructure planning, sustainable living and spatial data, while also ...

  Read More »
• 10 September

  BP, Reliance close in on India gas field near missile site

  

  Bloomberg Billionaire Mukesh Ambani’s Reliance Industries Ltd. and its partner BP Plc are reviving investment plans for a gas block close to a military missile launching facility in the Bay of Bengal. Reliance and its British partner are preparing a new development plan for the gas-rich NEC-OSN-97/2 block, also called NEC-25, in the Mahanadi basin offshore eastern India, according to ...

  Read More »
• 10 September

  LNG glut may flip to deficit as Cheniere sees China growth

  

  Bloomberg The global glut plaguing liquefied natural gas markets may start to dwindle in five years, threatening to spur a deficit equivalent to twice the output of leading producer Qatar. New projects are needed to fill the shortfall, with demand for the super-chilled fuel forecast to double in the 20 years to 2035, Cedigaz, a Paris-based industry research group, said ...

  Read More »
• 10 September

  Texas needs third-party suppliers’ help to come back

  

  Bloomberg Sometimes, you need a little help from your friends. As Gulf Coast refiners restart their plants in the wake of Hurricane Harvey, they must step through a complex process that can take days to weeks to complete, even if they were largely unscathed by the storm’s flooding rains. But first, they need the support of others — third-party suppliers, ...

  Read More »
• 10 September

  Australia urges AGL to extend life of coal-fired plant

  

  Bloomberg Australia’s government is keeping the pressure on AGL Energy Ltd. to extend the life of its Liddell coal-fired power station. Energy Minister Josh Frydenberg and Treasury Scott Morrison separately reiterated on Sunday the importance of the Liddell plant continuing to operate past 2022, when the Sydney-based company has said it will close. The government is scheduled to meet AGL ...

  Read More »
• 10 September

  China’s teapot plants form new club to beat rivals

  

  Reuters A group of independent Chinese oil refiners is clubbing together to survive an onslaught by state-owned giants and the rise of private chemical giants, but industry analysts said the new alliance may find it hard to stick. Less than two years after becoming some of China’s newest crude oil importers, around 20 independent plants in the eastern industrial heartland ...

  Read More »
• 10 September

  Apple-backed billionaire makes case to buy Toshiba chip unit

  

  Bloomberg Terry Gou, the billionaire behind Apple Inc.’s iPhone factories, is pressing his case to acquire Toshiba Corp.’s memory chips business for $19.5 billion in a last-ditch effort to beat out two American buyout firms in the tumultuous auction. Gou’s Foxconn Technology Group has broad support for its offer from Apple, SoftBank Group Corp. and Sharp Corp. and is ready ...

  Read More »
• 10 September

  Chinese bonds get no mention in $1 trillion fund’s new strategy

  

  Bloomberg China’s bond market may be the world’s third largest, but when it comes to luring foreign investors, Beijing has a long road ahead. Norges Bank Investment Management, steward of the world’s largest sovereign wealth fund, proposed last week to limit its benchmark index for bond holdings to just three currencies — dollar, euro and sterling. The role of its ...

  Read More »
• 10 September

  SoftBank to tap global bond investors

  Bloomberg SoftBank Group Corp. is getting ready to return to overseas debt markets for the second time in two months after issuing $4.5 billion in dollar-denominated subordinated notes in July. Headed by billionaire Masayoshi Son, SoftBank is accelerating deal-making around the world, and has been in discussions to combine its US wireless operator Sprint Corp. with a potential partner. The ...

  Read More »
• 10 September

  Hong Kong’s dual class shares get Mobius backing

  Bloomberg Mark Mobius has given his blessing to a new venue that would permit dual-class shares. Hong Kong Exchanges & Clearing Ltd.’s plan that would allow dual-class companies to list at a bourse away from the city’s main exchange “is probably the answer,” said Mobius, executive chairman at Templeton Emerging Markets Group. “People can make a choice, if they don’t ...

  Read More »