Category: Business

Indonesia carbon capture storage projects could need $500 mln, official says

Deployment of carbon capture storage (CCS) in Indonesia’s oil fields in Cepu and Bojonegoro could cost the country about $500 million, a senior official at Indonesia’s state oil firm Pertamina said. Indonesia, the world’s eighth-biggest carbon emitter, has brought forward its goal for net zero emissions to 2060 or...

UniCredit sells remaining stake in Turkey’s Yapi Kredi

Italy’s UniCredit (CRDI.MI) will sell its remaining 20% stake in Yapi Kredi Bank (YKBNK.IS) by the end of March 2022, completing its exit from Turkey’s third biggest lender which it first started two years ago. Under the terms of the deal, Turkey’s Koc Holding (KCHOL.IS) will buy an 18%...

Embattled Evergrande NEV seeks regulatory approval for electric model in China

China Evergrande Group’s (3333.HK) electric vehicles (EV) unit Evergrande NEV (0708.HK) is seeking Chinese regulatory approval to sell its inaugural Hengchi 5 sport-utility vehicles, as the embattled company vows to start making cars early next year. In September the unit warned in stock exchange filings that it was still...

ExxonMobil announces FID for mega China petchem project

U.S. oil and gas major ExxonMobil (XOM.N) announced it had made a final investment decision to build a multi-billion dollar petrochemical complex in south China’s Guangdong province. The firm did not specify a value for this investment. The decision, announced late on Monday, came nearly 18 months after China’s...

Gulf’s Kuwait Airways in talks with Airbus to amend 2014 aircraft order

Gulf carrier Kuwait Airways is in talks with Airbus (AIR.PA) to amend a previous order to change the type of aircraft it agreed to buy in a deal announced in 2014, Chairman Ali Aldakhan told a press conference on Tuesday. Chief Executive Ma’an Razoq later said that the state-owned...

Nvidia launches new products to plug cars, factories into its Omniverse

Nvidia (NVDA.O) is launching new technology to expand its reach in the automotive industry, including a virtual driving assistant that can park a standard car and a system to speed up the training of autonomous vehicles. As part of its fall new product event, centered around its “Omniverse” simulation...

Euro zone housing demand to persist, hitting poorer households – ECB

Demand for euro zone real estate is likely to remain high, driving up prices and raising “affordability issues” for poorer households, the European Central Bank said on Tuesday. After the COVID-19 pandemic shut much of the global economy, household savings soared and some families, particularly wealthier ones, looked to...