I’ve long thought that Crown Prince Mohammed bin Salman’s life overlaps in curious but important ways with one Elon Musk, CEO of Tesla Inc. And now, MBS even has his own take on Musk’s “funding secured” meme. The long-awaited initial public offering of Saudi Arabian Oil Co., or Saudi Aramco, has been put on hold, […]
Day: August 23, 2018
Oil slips as trade dispute outweighs U.S. stock decline
Oil prices slipped on Thursday as an escalating trade dispute between the United States and China outweighed the bullish impact of a decline in U.S. commercial crude inventories. Benchmark Brent crude oil was down 35 cents a barrel at $74.43 by 0935 GMT. U.S. light crude was 10 cents lower at $67.76. The trade dispute […]
Reliance Power wins $56-mn arbitration award in Indonesia coal mine dispute
Anil Ambani-promoted Reliance Power on Thursday said one of its subsidiaries has won an arbitration award in a contractual dispute over its Indonesian coal mines. The company will receive $56 million as compensation. “Reliance Power Netherlands BV, a wholly-owned subsidiary of Reliance Power, has won an international arbitration award of $56 Million against Prestige Capital […]
RInfra defaults on Rs 133 cr NCD redemption payment
Reliance Infrastructure (RInfra)has defaulted on payment of redemption of non convertible debentures (NCDs) amounting to Rs 133.38 crore. The company however said it expects to make these payments in the next few days from the proceeds from sale of Mumbai Power Business to Adani Transmission for Rs 18,800 crore. “The entire proceeds of the sale […]