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Tanzania will sign key agreements with oil majors including Equinor ASA and Shell Plc next month to pave the way for a planned $40 billion liquefied natural gas export project, according to the nation’s Energy Minister January Makamba. “It’s happening,” January Makamba said in an interview in Sharm el-Sheikh, Egypt, where he is attending the COP27 international climate summit. “In ...

German Finance Minister Christian Lindner has laid out plans for the country to spend €83.3 billion ($83.4 billion) on gas and electricity subsidies next year, according to a ministry document obtained by Bloomberg. It shows €40.3 billion will be earmarked to cover the cost of gas and district heating, including a one-time payment in December for businesses and households. A ...

New Zealand central bank governor Adrian Orr has been reappointed for a second five-year term, giving him the opportunity to complete an aggressive tightening cycle as the bank seeks to regain control of inflation. Finance Minister Grant Robertson reappointed Orr after a “unanimous recommendation” from the Reserve Bank Board, Robertson said on Tuesday in Wellington. Orr’s second term begins on ...

Citigroup Inc is increasing holiday allowances for UK staff, the latest bid by a bank to improve its working culture. From January, new employees will get 27 days of annual leave, increasing to 28 after two years and 29 after five years, Kathryn Skelton, head of human resources in the UK, said in an internal memo seen by Bloomberg. Previously ...

Matthew A. Winkler As Americans cast their votes near the end of Democrat Joe Biden’s second year in the White House, his 42% approval rating and the outcome of such midterm elections historically favoring the party not currently in charge gives the edge to Republicans. But the history of more than a dozen measures of relative prosperity shows Biden outperformed ...

Paul J. Davies If you want to forecast the fates of banks in the UK and Europe, the one thing you should watch is gas prices. If the winter is warm and stored gas goes unburned, the region’s unloved lenders are going to look significantly undervalued. Third-quarter results have highlighted that many sit on billions of pounds or euros of ...

Abu Dhabi / WAM   Abu Dhabi Airports has signed a memorandum of understanding (MoU) with leading French engineering and operations firm “Groupe ADP”. The MoU aims to explore the potential of Advanced Air Mobility (AAM) in Abu Dhabi, a new concept of air transportation which uses electric vertical take-off and landing (eVTOL) aircraft to move people and cargo. Under the ...

Abu Dhabi / WAM  Edge group will present its extensive range of autonomous solutions and precision-guided systems at the Bahrain International Airshow, taking place at the Sakhir Airbase from November 9-11. As a leading advanced technology group for defence and beyond, Edge aims to strengthen its partnerships within regional defence ecosystems, while showcasing its products and solutions to the GCC ...

Dubai / WAM  Sultan Ahmed Bin Sulayem, DP World Chairman and Group CEO, announced the company intends to invest up to AED1.83 billion ($500 million) to cut CO2 emissions from its operations by nearly 700,000 tonnes over the next five years. The announcement was made as Bin Sulayem addressed delegates by video at the United Nations Climate Conference (COP 27) ...

SHARM EL SHEIKH / WAM  President His Highness Sheikh Mohamed bin Zayed Al Nahyan delivered a speech at the 27th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27) in Sharm El Sheikh, Egypt, emphasising the importance of international cooperation to tackle climate change for the sake of future generations. His Highness ...