Showing 551-560 of 622 results

‘World Bank indirectly funding Asian coal projects’

[JAKARTA] An international team of environmental and financial experts claim in a report that contrary to declarations it made in 2013, the World Bank (WB) has been indirectly funding coal mining projects in Asia. According to the report, published this month (11 April),  the WB’s private-sector arm – the International Financial Corporation (IFC) – has […]

OCBC is Southeast Asia’s first bank to rule out funding new coal power plants

Singapore’s OCBC Bank is the first banking giant in Southeast Asia to rule out financing new coal-fired power plants. In an interview with Bloomberg on Wednesday, the bank’s chief executive Samuel Tsien said the company would no longer fund new coal-fired power plants in any country. “We hope that by doing this, we are encouraging […]

Thai energy firm Bangchak invests in California’s EV battery firm

Thailand’s alternative energy giant Bangchak Corporation Pcl has invested an undisclosed amount in California-based innovative battery technology developer Enevate Corp, according to an announcement. The investment has been made through Bangchak Initiative and Innovation Center (BiiC), which earlier had said that it would allocate a budget of over 300 million baht ($9.5 million) to invest […]

Petronas to acquire renewable energy firm

PETALING JAYA: Petroliam Nasional Bhd (Petronas) will soon mark its international foray into renewable energy once it completes the acquisition of Amplus Energy Solutions Pte Ltd, better known as M+ later this month. The state-owned oil and gas (O&G) giant has entered into an agreement with I Squared Capital to acquire a 100% interest in […]

Sapura Energy secures RM1.3bil jobs

PETALING JAYA: Sapura Energy Bhd image: https://cdn.thestar.com.my/Themes/img/chart.png ’s shares rose after it announced it had secured RM1.3bil worth of new jobs.The oil and gas counter, which was briefly suspended yesterday pending the announcement, gained one sen to close at 34.5 sen. It was the most actively traded counter, with 312.4 million shares changing hands. In […]

MARC affirms Tenaga’s corporate credit rating at AAA

KUALA LUMPUR: Malaysian Rating Corporation (MARC) has affirmed its corporate credit rating on Tenaga Nasional Bhdimage: https://cdn.thestar.com.my/Themes/img/chart.png (TNB) at AAA and its sukuk rating on the power giant’s RM2bil Al-Bai’ Bithaman Ajil Bonds at AAAIS. It said on Friday the ratings outlook was stable. TNB’s ratings benefit from a two-notch uplift to reflect MARC’s assessment […]

AboitizPower secures $300-million loan for AC Energy thermal platform

MANILA, Philippines — Aboitiz Power Corp. has inked a $300-million facility agreement with four foreign banks to partially finance its acquisition in AC Energy Inc.’s thermal platform. In a disclosure to the Philippine Stock Exchange yesterday, AboitizPower said it signed a facility agreement with DBS Bank Ltd., Mizuho Bank Ltd., MUFG Bank Ltd., and Standard […]

Attracting Private Financing for Green Projects Needs Concerted Efforts: HSBC

Jakarta. Sustainable finance, aka financial services that pay special attention to their  environmental, social and good governance aspects, can reduce gaps in infrastructure financing—a constraint that has held back long-term growth in Southeast Asia, top executives at London-based lender HSBC said. In its Group Public Affairs Policy note distributed at the 23rd Asean Finance Ministers […]

Asean launches facility to mobilize US$1 billion for green infrastructure

Southeast Asian governments, the Asian Development Bank (ADB), and development financiers launched the Asean Catalytic Green Finance Facility, a new initiative to spur more than US$1 billion in green infrastructure investments across Southeast Asia. The launch ceremony was held in Chiang Mai, Thailand, on April 4 and was witnessed by Thailand’s Minister of Finance Apisak […]

Meralco hikes power rates for April

MANILA, Philippines – The Manila Electric Company (Meralco) will slightly increase power rates by P0.0633 per kilowatt hour (kWh) in its April billing. The latest price changes will bring electricity rates to P10.5594 per kWh from March’s P10.4961. For a typical household consuming 200 kWh, it would mean an additional P12.60 in the bill. Meanwhile, […]