Emirates ups Luanda flights

DUBAI / Emirates Business Emirates announced on Tuesday it will reinstate two weekly flights between Luanda and Dubai, increasing capacity to five flights per week between the two cities, starting from July 1. Customers can look forward to a daily service starting from the winter schedule. These additional flights will give passengers more travel choices and address the growing demand ...

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Abu Dhabi malls to offer 90% discount on Eid Al Fitr eve

Abu Dhabi / Emirates Business The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) in association with the Department of Economic Development of Abu Dhabi (DED) has announced a 24-hour mall mega sale, featuring discounts of up to 90 percent, as part of this year’s Eid Fest celebrations. With more than 1,500 stores involved, the sale will ...

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Next up in China’s clean-air push is gas pipeline giant

Bloomberg China’s push to eradicate smog by using more natural gas is set to get a boost as it pushes ahead with a plan to merge under one company a national pipeline network that would unify transport and investment decisions. Regulators are aiming to announce a decision before winter to combine oil and gas pipeline assets owned by its three ...

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Russia boosts oil output to 14-month high

Bloomberg Russia is showing signs of weakening its commitment to oil-supply cuts as production rises before crucial talks with OPEC about the future of the agreement. The nation boosted crude supply to the highest in 14 months in the first week of June as some companies breached their caps, said a person with knowledge of the matter. While both the ...

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Solar beats gas, wind as biggest source of new US power

Bloomberg Despite tariffs that President Trump imposed on imported panels, the US installed more solar energy than any other source of electricity in the first quarter. Developers installed 2.5 gigawatts of solar in the first quarter, up 13 percent from a year earlier, according to a report on Tuesday from the Solar Energy Industries Association and GTM Research. That accounted ...

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Sempra Energy soars on Elliott’s bid to streamline and sell assets

Bloomberg Sempra Energy shares had their biggest ever intraday gain as Elliott Management Corp. and Bluescape Resources called for a sweeping overhaul, including selling the company’s Mexican and South American utilities and spinning off its US liquefied natural gas business. The two activist funds together hold a 4.9 percent interest in Sempra — whose assets include San Diego Gas & ...

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Single European power market gets closer

Bloomberg The European Union’s vision of a single energy market will move a step closer on Tuesday with the start of a joint market for electricity delivered on the same day. The project, which requires close cooperation between rival exchanges and grid operators, will link 14 national markets from Latvia to Germany and Portugal. Most other European countries are scheduled ...

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China’s Meituan plans to file for $6 billion IPO

Bloomberg China’s restaurant review and delivery giant Meituan Dianping plans to file for an initial public offering of about $6 billion in Hong Kong as soon as this month, according to people familiar with the matter, the city’s second multibillion-dollar public listing by a tech startup this year. The company is considering selling about 10 percent of the company, the ...

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Vietnam passes cyber law denounced in street protests

Bloomberg Vietnam’s National Assembly has passed a cybersecurity law requiring companies such as Alphabet Inc.’s Google and Facebook Inc. to store all data of Vietnam-based users in the country and open local offices. The measure has drawn rare dissent from some lawmakers and government leaders as well as local tech groups, who sent a petition to the legislature that warned ...

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Indian TV maker blames Modi, Brazil for bad debt pile

Bloomberg Who’s at fault for Videocon Industries Ltd.’s 39 billion rupees ($579 million) debt pile? The Indian maker of consumer appliances is casting the blame on Prime Minister Narendra Modi, the nation’s top court and the Brazilian government. A bankruptcy court admitted an insolvency petition filed by creditors, led by State Bank of India against Videocon, and ordered debt reorganisers ...

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