Finance

  • Power plants, maritime infrastructure to be...

    Finance Minister Bambang Brodjonegoro has said power plants and maritime infrastructure will be Indonesia’s first projects to be financed through the Asian Infrastructure Investment Bank (AIIB) after this multilateral finance institution begins full operation at the end of 2015 or at the beginning of 2016.

     

  • Petrobras Slashes Spending to Cut Debt

    Brazil's state-run oil company Petrobras slashed its long-term spending plan to the lowest level in eight years on Monday as new management moved to reduce the industry's largest debt burden and restore confidence after a devastating corruption scandal.

  • Drydocks World creditors anticipate debt...

    The 2012 restructuring also involved DDW bringing in a Singaporean partner for its troublesome business in Indonesia. Borrowing to set up an operation in South East Asia before the financial crisis of 2009 was the main reason DDW was forced to seek a deal with creditors back then.

  • Maritime Regulators See No Price Fixing in...

    Global maritime regulators have found no evidence of price fixing in freight rates among the biggest players in container shipping, a top U.S. official said following a meeting that came as cargo shipping prices on some of the world’s busiest trade routes collapsed for the second straight week.

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Iran petchem sector draws $13bn in bids

German firms have proposed deals worth more than 12 billion euros ($13 billion) for financing petrochemical projects in Ian, a report said.


“Two leading German companies have indicated their interest to bankroll petrochemical projects as much as €12bn in Iran in the post-sanctions era,” Abbas Shari-Moqaddam, managing director if National Petrochemical Company (NPC), was quoted as saying in the Iran Project.


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Adnoc forms new global investment arm

Abu Dhabi National Oil Co (Adnoc) plans to set up an international arm to invest in oil and gas firms abroad, the al-Ittihad newspaper reported on Wednesday citing the official gazette.

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Jordan to sign $400m power deal with Acwa

Jordan’s National Electric Power plans to sign a $400 million contract for a 480MW power plant with Saudi Arabia-based Acwa Power, a report said.


The new plant will replace the Hussein Thermal Power Station in Aqaba, Ghaleb Maabreh, secretary general of Jordan’s Ministry of Energy and Mineral Resources, was quoted as saying in a Bloomberg report.


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