Argentina will install 3.5GW of generation capacity over the next 12 months, a government release said. Projects include the 745MW Néstor Kirchner nuclear plant, due to come online any day now, and the gas-powered 560MW Vuelta de Obligado facility.
Updated 5 Years ago

Nigeria has opened invitation to the Russian business community to take advantage of its enormous human and natural resources, and invest in its petroleum value chain – upstream, downstream, and gas.
Updated 5 Years ago

The Minister of State for Power, Mr. Mohammed Wakil, made this disclosure at the opening of the meeting of the Board of Directors of the Rural Electrification Agency, REA, in Abuja.
Updated 5 Years ago

Apple's suppliers will begin producing larger versions of the iPhone in China next month, Bloomberg reported citing sources. Apple is ramping up production of iPhones with 4.7 and 5.5-inch screen sizes, which may be shipped to retailers around September, the reportsaid.
Updated 5 Years ago

The world’s biggest pension fund should consider sitting on cash after selling Japanese sovereign bonds, said the government’s top adviser on the overhaul, after the Topix (TPX) index of stocks rebounded 10 percent amid anticipation of retirement-plan buying. While the Government Pension Investment Fund must take the opportunity to sell debt amid central-bank stimulus that is holding down yields, there’s less pressure to invest the proceeds, said Takatoshi Ito, who led a panel that advised the government on overhauling the 128.6 trillion yen ($1.3 trillion) fund. GPIF should avoid buying into markets that have rallied on bets its purchases will boost prices, he said.
Updated 5 Years ago

The United Bank for Africa (UBA) Plc has announced that its debit and prepaid cards are now accepted on the PayPal platform.
Updated 5 Years ago

Australian billionaire Solomon Lew has spent 17 years blocking Woolworths Holdings Ltd. (WHL)from taking full control of a local fashion chain. His intransigence is set to earn him a A$209 million ($197 million) payout. Woolworths will pay A$17 a share to buy out Lew and other minority shareholders in clothing retailerCountry Road (CTY), the Cape Town-based suitor said in a regulatory statement today. That deal will only go ahead if Lew and other shareholders in David Jones Ltd. support Woolworths’ separate $2 billion bid for their company.
Updated 5 Years ago

Amnesty International has stated that last week’s UK court ruling finally paved the way for Shell to be held accountable for devastating oil pollution in the Niger Delta.
Updated 5 Years ago

Nissan Motor Co. (7201) Chief Executive Officer Carlos Ghosn earned more than $10 million last year, putting him on track to become the best-paid Japan executive for the fourth time in five years. Ghosn was paid a total of 995 million yen ($9.8 million) in salary and bonuses for the fiscal year ended March 31, an increase of 0.7 percent from a year earlier, he said at the carmaker’s annual shareholders’ meeting today in Yokohama, Japan. Including dividends, his total compensation rises to more than 1 billion yen.
Updated 5 Years ago

The South Stream gas pipeline project is too important for the EU to be “put on ice”, the head of Austrian energy group OMV, Gerhard Roiss, stressed, even speaking of possible European law exceptions for Gazprom in order to speed up negotiations. In an interview with the WirtschaftsBlatt newspaper, Roiss said that it’s unrealistic to suggest that Austria, which receives a third of its gas from Gazprom, and Europe as a whole, would be able to cope without Russian supplies.
Updated 5 Years ago