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Dubai / Emirates Business Cityland Group on Tuesday announced a major financing milestone for the $330 million flagship retail project — Cityland Mall — from a consortium of banks consisting of Emirates NBD as the lead bank and Burgan Bank from Kuwait. The loan, which totals $142.74 (AED524mn) million in value, will be utilized for covering the ongoing project cost ...

Bloomberg A US appeals court rebuked the Environmental Protection Agency for unilaterally suspending Obama-era methane emissions regulations while the regulator reviewed the rule. The Washington-based panel’s 2-1 majority called the EPA’s move both unauthorized and unreasonable. It granted a request from six environmental groups to allow the rule to remain in place. The decision is the latest blow to the ...

Bloomberg Chad is seeking to delay repayment of more than $1 billion of Glencore Plc-led oil-for-cash loans after crude prices plunged, the second time the African country has looked to restructure the debt in two years, according to people familiar with the matter. Glencore has approached the banks that supported the deal to start talks, while Chad has already appointed ...

Bloomberg An EON SE nuclear plant that made billions for the German utility is now losing money. Essen-based EON is battling repeated delays to production at its Brokdorf reactor that has cost the company more than 100 million euros ($114 million) since halting in February, Almut Zyweck, a spokeswoman for EON’s nuclear unit, said by email. Brokdorf, a 1.4-gigawatt reactor ...

Bloomberg Oil snapped its longest run of gains this year as OPEC output rose amid a boost from members exempt from supply cuts. Futures slid 0.5 percent in New York after advancing almost 11 percent the previous eight sessions. OPEC production in June climbed to the highest level this year because of increases from Libya and Nigeria, which aren’t bound ...

Bloomberg Hidden by pine forests near the deserted site of what was once East Germany’s biggest nuclear reactor, two shiny pipelines emerge from the Baltic Sea to mark the spot where Chancellor Angela Merkel is trying to secure the country’s energy future. Not far from the Hanseatic town of Greifswald — an area Merkel represents in parliament — the chancellor ...

Bloomberg India’s economy is struggling to recover its strong growth record, beset by record low inflation, a widening output gap, and short term uncertainty from the introduction of a uniform sales tax. That will build pressure on the Reserve Bank of India to jettison its neutral monetary policy bias adopted just five months ago, setting the scene for lowering interest ...

Bloomberg Samsung Electronics Co., the world’s biggest maker of memory chips, announced 20.4 trillion won ($18 billion) of new investments to expand semiconductor output in South Korea. After spending 15.6 trillion won on its Pyeongtaek plant south of Seoul, total investment in the facility will rise to 30 trillion won by 2021, it said in an statement on Tuesday. The ...

Bloomberg LeEco is trying to resolve a dispute with one of China’s largest banks over unpaid interest on debt, a spat that’s prompted a Shanghai court to freeze 1.24 billion yuan ($182 million) of assets held by the tech conglomerate and its billionaire founder Jia Yueting. The ailing firm’s disagreement with China Merchants Bank Co. arose over loans to a ...

Bloomberg China is stepping up its scrutiny of online and mobile games, as the leading government-owned newspaper blasted Tencent Holdings Ltd.’s top-grossing Honour of Kings for harming children in the pursuit of profit. The People’s Daily criticized Tencent’s most profitable smartphone title in an editorial, citing it as an example of how addictive games spread “negative energy” and have even ...