Brazilian power firm Neoenergia will increase its installed generating capacity by 150% over the next five years, as large-scale hydroelectric projects come online. In an operations report, the company said its generation park would increase to 4.05GW over the period from 1.63GW today.
Updated 5 Years ago

Colombia produced 47.3Mt of coal in the first half of 2014, a 14% year-on-year increase, according to the national mining agency (ANM). About 91% of coal production was exported, the agency said in a statement. Colombia, Latin America's largest coal producer, turned out 40.5Mt in the first half of 2013.
Updated 5 Years ago

Brazil's São Paulo state water utility Sabesp is waiting for approval from national water agency ANA to carry out a 504mn-real (US$223mn) drought relief project. Planned by state governor Geraldo Alckmin, the initiative involves redirecting water from the Paraíba do Sul river in Rio de Janeiro and Minas Gerais states to São Paulo state. Critically, some of the water would also flow into the key Cantareira water supply system.
Updated 5 Years ago

Chinese brokerages will start making markets next week on China's New Third Board, its leading over-the-counter (OTC) exchange but one long derided as a dead-end market populated by small little-known, opaquely managed firms. The move has revitalized interest and trading volumes have exploded, but analysts warn of significant risk.
Updated 5 Years ago

Bank of America Corp. agreed to pay almost $16.7 billion to end federal and state probes into mortgage bond sales, the harshest penalty yet related to loans that fueled the 2008 financial crisis. The settlement, which includes $9.65 billion in cash and $7 billion in consumer relief, resolves civil investigations by government prosecutors, the U.S. said today.
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Energy Absolute Pcl (EA), whose Bangkok-listed shares have more than tripled this year, plans to spend about 46 billion baht ($1.4 billion) over the next three years to boost generation capacity from renewable energy. Capacity will increase by 570 megawatts by 2017 from about 100 megawatts, Chief Financial Officer Amorn Sapthaweekul said yesterday. The company, operator of Thailand’s biggest solar power project, is spending 17 billion baht to build two solar projects with combined capacity of 180 megawatts. It plans to invest an additional 29 billion baht on wind farms with total output of 390 megawatts, he said.
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The Tor Project's executive director has alleged members of the NSA and GCHQ regularly leak it details of flaws the agencies have discovered in its code. By fixing these flaws, the project can protect users' anonymity, he explained. The agencies declined to comment.
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The move comes after watchdog Rospotrebnadzor temporarily shut four McDonald's restaurants in Moscow. The actions come amid rising tensions and sanctions between Russia and the West over the crisis in Ukraine.
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Gap's first two outlets will be in Mumbai and the capital Delhi - India's biggest and busiest cities. Gap is partnering with Arvind Lifestyle Brand Limited, a subsidiary of Arvind Limited, which is one of India's largest textile companies.
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Billionaire Richard Branson and fellow business tycoons have offered “whatever support we can” to end the conflict in Ukraine and prevent the return of the “cold war misery of the past.” Branson posted an open letter on the Virgin website appealing for a peaceful solution to the crisis in the Ukraine.
Updated 5 Years ago