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DUBAI / WAM Dubai Maritime City (DMC), DP World’s purpose-built maritime centre, has announced that infrastructure works in Phase 1 of its commercial district are nearing completion. Almost 80 percent of the construction of the AED140 million road and infrastructure works of the development’s first phase have been completed. The site is set to become a major hub for maritime ...

Bloomberg The first cold blast this winter that propelled European power and gas prices to their highest levels in years may be about to dissipate, but its impact will be felt for months to come. From a snow storm in Madrid to record spikes in the UK power market as wind dropped — the weather has been the main driver ...

Bloomberg Indian billionaire Gautam Adani is raising $2.5 billion from a deal that includes the sale of a minority stake in his renewables business to French energy giant Total SE, a transaction that may help the tycoon cut group debt. Paris-based Total will acquire 20% of Adani Green Energy Ltd and a board seat as well as a 50% stake ...

Bloomberg Indian energy demand got off to a shaky start in the new year with sales of transport and cooking fuels over the first two weeks of 2021 declining from a month earlier. The sale of diesel — the country’s most-used fuel and a proxy for economic health — dropped during January 1-15 by 6.6% from the same period in ...

In a few days, Joe Biden, Chuck Schumer and Nancy Pelosi will take possession of the most coveted prize in US politics: unified control of the federal government. They shouldn’t expect it to last — and they should govern that way. That means moving both aggressively (to get people back to work) and cautiously (to avoid the kind of overreach ...

The pandemic has ended a plucky attempt to break the stranglehold that carriers like British Airways and Delta Air Lines Inc have on the transatlantic market. Norwegian Air Shuttle ASA’s decision to cease long-haul services to ensure its survival won’t surprise anyone familiar with its years-long struggle to make money. But this may not be the end of attempts to ...

Honestly, it hasn’t been a great month for Franco-American energy relations. First, a Texas Railroad Commissioner fired off a jeremiad at Engie SA for turning up its nose at US gas. Now Total SE, the French oil champion, is pulling out of the big kahuna of industry lobbyists, the American Petroleum Institute (API). The move is a bombshell but one ...

China’s recovery from the depth of the Covid-19 slump is impressive, and the country will almost certainly be the only major economic power to end 2020 in positive territory. Another world-beating expansion is expected this year. But for all the superlatives, Beijing is years away from becoming a global economic leader. Gross domestic product rose 6.5% in the fourth quarter ...

Bloomberg Canada’s Alimentation Couche-Tard Inc and France’s Carrefour SA abandoned talks on a proposed $20 billion merger following stiff opposition from the French finance minister, and will look instead at forming a looser alliance. The companies will now consider how to work together on fuel purchases, branding and distribution where their networks overlap, the companies said in a joint statement. ...

Bloomberg Singapore will require all inbound travellers to take a Covid test upon arrival in the city-state from January 25 amid a resurgence of cases globally, the Ministry of Health said in a statement. Citizens and permanent residents of Singapore who return from either the United Kingdom or South Africa will also be subject to an additional seven-day self-isolation at ...