February, 2017

• 21 February

  Saudi Arabia starts $50 billion renewable plan to cut oil use

  

    Bloomberg Saudi Arabia is kicking off its $50 billion renewable-energy push as the world’s top crude exporter turns to solar and wind power to temper domestic oil use in meeting growing energy demand. Bidders seeking to qualify to build 700 megawatts of wind and solar power plants should submit documents by March 20, and those selected will be announced ...

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• 21 February

  China N-push stalled by next-gen reactors

  

    Bloomberg China’s decision to approve its first new nuclear reactors in two years may need to wait for its success starting up the world’s first next-generation units. Plans to green-light eight reactors this year in the world’s fastest-growing nuclear market, announced last week, could depend on whether it’s able to complete some of the world’s most-advanced facilities, including Westinghouse ...

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• 21 February

  Noble, Barclays work on $1bn Tamar stake sale

    Bloomberg Noble Energy Inc. is working with Barclays Plc on the sale of a 7.5 percent stake in the offshore Tamar natural gas field, according to people with knowledge of the matter. The company and its advisers — which include another unidentified bank — are approaching institutional investors for the sale, which may be worth between $1 billion and ...

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• 21 February

  Indian refiner to review $8bn spend on tax shock

    Bloomberg Indian Oil Corp., the nation’s top refiner, is reconsidering plans to invest $8 billion in the country’s east after a provincial government threatened to withdraw promised tax breaks, people with knowledge of the matter said. The government of Odisha state said in a letter to the company that it was no longer keen to provide a deferral of ...

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• 21 February

  Brent oil rises on Citigroup price outlook

  

    Bloomberg Brent oil extended gains toward $57 a barrel as Citigroup Inc. raised its price outlook citing strong OPEC compliance with agreed output cuts and growing demand in Asia. Futures rose 1.3 percent in London. Brent will average $55 this quarter, Citigroup said in a note, an increase of $5 from its previous forecast. The North Sea price benchmark ...

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• 21 February

  Tata’s new chairman vows to improve capital allocation

  

    Bloomberg Natarajan Chandrasekaran took over as chairman of Tata Sons Ltd., the holding company of Tata Group, pledging to improve capital allocation and boost returns from the $100 billion salt-to-software Indian conglomerate. The challenge for Chandrasekaran, or Chandra as he’s known, will be to rekindle growth and revive Tata’s weaker units after almost four months of boardroom turmoil that ...

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• 21 February

  Singapore plans Southeast Asia’s first carbon tax from 2019

  

    Bloomberg Singapore plans to implement Southeast Asia’s first carbon tax starting in 2019, a move that would raise energy costs in the island nation and require more than 30 big polluters such as power plants to pay the levy. The proposal would charge between S$10 ($7) and S$20 a ton on emissions of carbon dioxide and five other greenhouse ...

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• 21 February

  Hong Kong developers advance ahead of budget speech

  

    Bloomberg Hong Kong property stocks extended gains ahead of the city’s annual budget speech on Wednesday, as some analysts anticipated announcements that would benefit developers. Property companies were the biggest gainers on the Hang Seng Index, with Sun Hung Kai Properties Ltd. climbing almost 3 percent and Henderson Land Development Co. advancing 1.4 percent, both on volume that was ...

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• 21 February

  A ‘quiet revolution’ looms for Japan’s stock market

  

    Bloomberg After years of disappointment, a quiet revolution may be underway in the Japanese stock market. Japan’s companies have for years sat on record piles of cash — the equivalent of $2.4 trillion in September, the most in the world. The issue has been deploying those funds for shareholder benefit. A key part of Abenomics has been sharpening the ...

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• 21 February

  Trump’s travel ban not to hit US economy

  

    Bloomberg The US economy should be able to weather President Donald Trump’s temporary travel ban, economists say, though any broadening of immigration and visa restrictions could hurt the labor force and productivity. Two-thirds of economists surveyed by Bloomberg said the ban, which has for the moment been temporarily suspended by the courts, will have “little to no effect” on ...

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