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Bloomberg Italy must more than double its capacity to store electricity if it wants to slash pollution from burning fossil fuels, the head of the nation’s power transmission network said. Terna SpA Chief Executive Officer Luigi Ferraris said Italy may need as many as 6 gigawatts of storage by 2030 to balance a boom in renewables. Storage is one of ...

ABU DHABI / WAM Adnoc Drilling, an Abu Dhabi National Oil Company (Adnoc), subsidiary, on Sunday announced the completion of its first fully ‘integrated drilling services’ well in the Al Dabbyia onshore field, in the Al Dhafra Region of the Abu Dhabi emirate. The well was the first to be drilled in a fully integrated way – delivered to Adnoc ...

ABU DHABI / WAM The Emirates Nuclear Energy Corporation (Enec), completed the Structural Integrity Test (SIT), and Integrated Leak Rate Test (ILRT), at Unit 2 of the Barakah Nuclear Energy Plant. These significant pre-operational tests incorporated all the lessons learned from the same tests on Unit 1, and represent another major achievement in the testing and commissioning phase of the ...

Dubai / WAM Emirates Global Aluminium (EGA), Mubadala and Dubal Holding on Sunday officially broke ground on a new AED1 billion state-of-the-art power block at EGA’s Jebel Ali smelter in Dubai. EGA is the largest industrial company in the UAE outside oil and gas, and is jointly owned by Mubadala Investment Company and Dubal Holding. The ground-breaking ceremony was held ...

Dubai / WAM Arab Regional Tax Forum has discussed ways of balancing tax policies, Arab countries’ competitiveness in managing them, as well as the challenges facing these nations in pursuing their tax policies. The two-day forum which opened on Sunday at the Grand Hyatt Hotel in Dubai, is organised by the Ministry of Finance (MoF), and the Arab Monetary Fund ...

Bloomberg Some ex- Tata Group executives have teamed up with a veteran investor to seek to bring change at Indian companies, in a rare attempt to influence management in a country where shareholder activism has largely failed to take hold. Former Tata employees including Mukund Rajan and Govind Sankaranarayanan have partnered with Ajit Dayal, the founder of mutual fund firm ...

Bloomberg A rare public protest in Singapore underscored mounting anger among investors set to suffer sharp losses in one of the country’s highest-profile corporate debt restructurings. The catastrophic slump of the once-vaunted water and power company, Hyflux Ltd, has stunned debtholders, who stand to lose about 90 percent. About 400 to 500 of those individual investors gathered in a downtown ...

Bloomberg Facebook Inc Chief Executive Officer Mark Zuckerberg called for new global regulations governing the internet, recommending overarching rules on hateful and violent content, election integrity, privacy and data portability. In a statement that was also published as an op-ed in the Washington Post, Zuckerberg said the company is seeking regulations that would set baselines for prohibited content and require ...

Bloomberg PSA Group and Fiat Chrysler Automobiles are exploring a partnership to share investments to build cars in Europe, according to people familiar with the talks. The French carmaker and its Italian-American peer have been holding preliminary discussions to collaborate on a “super platform” — the basic underpinning of a car model — to reduce their investment costs in the ...

Bloomberg Luxembourg’s PM Xavier Bettel joked that Brexit is like Samuel Beckett’s “Waiting for Godot.” Unfortunately, many UK citizens in the Grand-Duchy have become the protagonists in a tragicomedy of their own. Since the June 2016 referendum, there’s been an influx of finance workers fleeing the City of London. But other Britons, employed at EU institutions, were essentially forced to ...