Breadcrumb Trail Links PMN Business Electrifying oil rigs is a taste of what the future could hold if oil companies get to lead the way toward net zero. Author of the article: Bloomberg News Kari Lundgren Published Nov 21, 2023 • 7 minute read Join the conversation Norway’s Oil Minister Terje Aasland in the control room of Equinor’s […]
Article content (Bloomberg) — With promises of climate finance from the developed world having largely remained unfulfilled, African nations are now looking to fill the gap themselves. Egypt, Morocco, Benin and Ivory Coast are setting up so-called green banks under the guidance of the African Development Bank, according to Audrey-Cynthia Yamadjako, the lender’s principal climate […]
Article content (Bloomberg) — German Vice Chancellor Robert Habeck said last week’s ruling by Germany’s top court curbing the use of off-budget special funds is a major blow for Europe’s biggest economy and could lead to higher power costs for households and companies. Constitutional Court judges said that €60 billion ($65.5 billion) in untapped credit […]
Article content (Bloomberg) — The European Central Bank may have to raise borrowing costs again if investor bets on monetary loosening undermine the institution’s policy stance, Governing Council member Pierre Wunsch said. Markets are taking an “optimistic” view by discounting the possibility of further hikes and expecting the first reduction of the ECB’s deposit rate […]
Breadcrumb Trail Links PMN Business China needs to decisively ramp up fiscal spending so it can support an economy damaged by Western restrictions on trade, according to a Chinese scholar studying an unconventional school of economic thought. Author of the article: Bloomberg News Bloomberg News Published Nov 18, 2023 • 4 minute read Join the […]
Breadcrumb Trail Links PMN Business Israel said its ground offensive in the north of the Gaza Strip may be expanded to the south of the enclave, where many Palestinians have sought refuge after being urged to evacuate there by the Israeli military. Author of the article: Bloomberg News Bloomberg News Published Nov 18, 2023 • […]
Article content (Bloomberg) — Chilean miner Antofagasta Plc and Chinese smelter Jinchuan Group agreed to copper-concentrate supply contracts for 2024 that set processing charges 9% lower than this year, as the supply of mined ore tightens and refining capacity expands. Smelter fees, known as treatment and refining charges, were set at $80 per ton and […]
Article content (Bloomberg) — Sasol Ltd. picked energy operations and technology executive Simon Baloyi as the next chief executive officer of the fuel and chemical manufacturer, to help lead South Africa’s second-largest producer of greenhouse gases down a challenging path to reduce emissions. Baloyi will take over in April, while CEO Fleetwood Grobler, who has […]
Article content (Bloomberg) — Billionaire Elon Musk’s electric vehicle maker Tesla Inc. hasn’t yet formally registered its plans for investment in a factory near Monterrey, Mexico, where it intends to make a next-generation electric vehicle. While the company has made the announcement for an investment that could eventually rise to $10 billion over multiple phases, […]
Article content (Bloomberg) — The Biden administration and 13 partner nations in Asia and the Pacific are close to finishing agreements that include renewable energy and anti-corruption measures, while falling short of a deal on thornier trade issues. “We’re close” to an agreement on two so-called pillars of the Indo-Pacific Economic Framework that encompass those […]