April, 2017

• 25 April

  Russia’s oil cuts won’t be so easy if OPEC deal is extended

  

    Bloomberg For Russian oil companies, the historic agreement to boost prices by cutting output in conjunction with the Organization of Petroleum Exporting Countries was an easy win. Extending the deal will be less straightforward. Cuts so far this year came alongside the traditional seasonal stagnation in Russian production, meaning the country made relatively few sacrifices in exchange for an ...

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• 25 April

  Denmark renewable sector to end relying on subsidies

  

    Bloomberg After more than four decades of relying on subsidies, Denmark’s renewable energy industry is ready to survive on its own much sooner than expected. The Danish energy minister, Lars Christian Lilleholt, says that “in just a few years,” renewable energy providers won’t need state support anymore. He says it’s a development he couldn’t have imagined as recently as ...

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• 25 April

  Saudi to offer renewable contracts of 1GW in 2017

  

    Bloomberg Saudi Arabia will offer as much as 1 gigawatt of contracts to buy renewable electricity by the fourth quarter of this year, a government official said, putting more detail on a program designed to stimulate the kingdom’s wind and solar industry. The government will auction power-purchase agreements covering 620 megawatts of photovoltaic installations and 400 megawatts for wind ...

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• 25 April

  Energy giants plan to cut carbon to half by 2040

    Bloomberg A group of companies and non-profit agencies that includes energy giants Royal Dutch Shell Plc and BHP Billiton said global greenhouse gas emissions could be cut in half by 2040 without impeding economic development, in part by converting grids to use mostly renewable power. The declining costs of wind, solar and batteries will make it possible within 15 ...

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• 25 April

  India steel boom on show as top mill aims to boost capacity

  

    Bloomberg JSW Steel Ltd. became India’s largest steelmaker this year as production surged. It wants to get bigger still, much bigger. The Mumbai-based company plans two plants of 10 million metric tons each in the resource-rich states of Odisha and Jharkhand, part of a drive to more than double in size to 40 million tons by 2030, according to ...

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• 25 April

  South Korea consumer confidence rebounds

  

    Bloomberg Consumer confidence in South Korea rose by the most since 2013 as data suggested the economy is recovering and the nation began to move on from the impeachment of the president. The Bank of Korea’s monthly consumer sentiment index rose to 101.2 in April from 96.7 the previous month, indicating rising optimism, data released on Tuesday show. The ...

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• 25 April

  China to ease foreign car JV limit in ‘orderly manner’

  

    Bloomberg China has provided the clearest indication to date that it plans to lift the cap on how much foreign carmakers can own of their local joint ventures, putting pressure on Chinese carmakers to speed up the building of their own brands. In a joint release on Tuesday, the National Development and Reform Commission together with the science and ...

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• 25 April

  Netmarble to raise $2.3bn after pricing IPO at the top

    Bloomberg Netmarble Games Corp. will raise as much as $2.3 billion after pricing its initial public offering at the top of its targeted range, amassing funds to get into new markets and titles. The South Korean mobile games company will sell 17 million new shares to raise as much as 2.66 trillion won ($2.3 billion) in the country’s largest ...

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• 25 April

  India’s Birla eyes booming global carbon fiber market

  

    Bloomberg Indian billionaire Kumar Mangalam Birla is exploring entry into the production of carbon fiber, a high-strength and light-weight composite material expected to be a $4.7 billion global business by 2022, according to a person familiar with his thinking. The Aditya Birla Group, the $40 billion mining-to-mobile phone carrier conglomerate, may buy the technology to manufacture carbon fiber at ...

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• 25 April

  ‘Lumber tariff’ intensifies US-Canada trade row

  

    Bloomberg US President Donald Trump intensified a trade dispute with Canada, slapping tariffs of up to 24 percent on imported softwood lumber in a move that drew swift criticism from the Canadian government, which vowed to sue if needed. Trump announced the new tariff at a White House gathering of conservative journalists, shortly before the Commerce Department said it ...

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