Markets News 

El Sewedy aims to implement seawater desalination projects in Egypt

“Ahmed Elsewedy, chairperson of El Sewedy Electric, said that his company plans to launch seawater desalination projects in Egypt” writes Mohamed Farag for dailynewsegypt.com. Elsewedy noted that his company is currently implementing cables and transmission projects to supply electricity to the New Administrative Capital for over EGP 3bn.He noted that the African Export-Import Bank (Afreximbank) is cooperating with El Sewedy Electric to provide the necessary funding for establishing new electricity cables, transmission, and meters projects.The company has allocated some of its investments to implement the projects, according to Elsewedy, however,…

Read More
News 

PG&E shares hammered as potential liabilities mount

“Reuters, citing anonymous sources, reports that the company has considered seeking financial shelter in bankruptcy court with potential liabilities reaching into the tens of billions” writes The Associated Press for seattletimes.com. Shares tumbled 22 percent Monday, the latest severe sell-off for the company since November and the outbreak of the state’s deadliest recorded wildfires.NEW YORK (AP) — California’s largest power company is getting battered in midday trading on reports that it’s considering bankruptcy protection in the face of potentially crippling liability damages from a spate of wildfires. Source: seattletimes.com

Read More
News 

Measles cases spike 30% worldwide…

“The World Health Organization said the worrying trend of resurgent measles cases was a near global phenomenon, but the causes varied among regions” writes Ben Simon for yahoo.com. “What is more worrying than the increase in the cases reported is that we are seeing sustained measles transmission in countries that had previously not seen measles transmission for many years,” Friede said. Source: yahoo.com

Read More
News 

set to discount the device in Japan

“A month after Apple’s new iPhone XR release, the company is set to discount the device in Japan, The Wall Street Journal reports” reports axios.com. The big picture: Apple’s most recent earnings show sales of iPhones were lower than predicted and the company is reportedly cutting production plans for all three new iPhone models. “Some Japanese consumers say the XR’s price, while considerably below the XS, is too high for the sacrifices in display quality, number of camera lenses, and slower data transmission speed,” WSJ’s Takashi Mochizuki writes. Source: axios.com

Read More
News 

Apple to drop iPhone XR price in Japan amid weak sales

“A month after Apple’s new iPhone XR release, the company is set to discount the device in Japan, The Wall Street Journal reports” reports axios.com. The big picture: Apple’s most recent earnings show sales of iPhones were lower than predicted and the company is reportedly cutting production plans for all three new iPhone models. “Some Japanese consumers say the XR’s price, while considerably below the XS, is too high for the sacrifices in display quality, number of camera lenses, and slower data transmission speed,” WSJ’s Takashi Mochizuki writes. Source: axios.com

Read More
News 

PG&E says it contacted resident about shut-off power line

“Doherty said Wednesday there is a third line adjacent to the Caribou-Palermo and Cresta-Rio Oso circuits that also runs through Pulga, and there is one additional transmission line about one mile northwest” reports thebusinessjournal.com. PG&E would not comment on whether there were any potential issues with transmission lines in the area prior to the Camp Fire. State fire investigators have blocked access to the transmission lines and towers at Pulga, calling the area a crime scene.Pacific Gas & Electric Co. said it had been in touch with Betsy Ann Cowley…

Read More
News 

Federal energy regulator prompts utilities to pass tax savings on to customers

“FERC’s proposed tax rule would apply to the interstate transportation of energy only, where it has jurisdiction over the wholesale electricity and natural gas markets” reports washingtonexaminer.com. The tax reform bill passed last December cut the corporate tax rate from 35 percent to 21 percent beginning in 2018.The nation’s grid regulator moved Thursday to ensure that President Trump’s 2017 tax cuts reduce customer utility bills. Source: washingtonexaminer.com

Read More
Crypto News 

California Based P2P Trader Convicted of Illegal Money Transmission

“According to prosecutors, Tetley earned at least $300,000 annually by operating an illegal, unregistered money transmitting business that exchanged the digital currency Bitcoin for cash” reports 247cryptonews.com. This is just another case in an ever-growing list of bitcoin traders being charged and convicted for illegally trading digital currency.Between 2014 and 2017, Tetley used the localbitcoins.com to advertise and conduct transactions related to the charges.Tetley’s business “fueled a black-market financial system in the Central District of California that purposely and deliberately existed outside of the regulated bank industry,” according to court…

Read More
AUD News 

Australia: We welcome Chinese investments despite concerns about a pending deal

“Australia remains open to Chinese investments regardless of whether Canberra blocks an acquisition of a major energy company by a Hong Kong-led consortium, Australian Treasurer Josh Frydenberg told CNBC on Friday” writes Nyshka Chandran for cnbc.com. The company holds approximately $20 billion of energy assets and delivers half the nation’s natural gas usage, according to the company.”APA is a unique company, with more than 50 percent of the gas transmission business in Australia, more than 15,000 pipelines supplying gas and electricity into key markets,” he added.Speaking to CNBC on Friday,…

Read More
News 

Uganda begins Ebola vaccinations amid Congo transmission fears

“Aceng said widespread insecurity in eastern Congo’s North Kivu and Ituri provinces added to Uganda’s vulnerability to cross border transmission” writes Midwest Communications Inc for 95kqds.com. KAMPALA (Reuters) – Uganda says it will start to vaccinate some of its health workers against Ebola on Monday, amid fears that the viral haemorrhagic fever could spread from Democratic Republic of Congo which is battling an outbreak. Source: 95kqds.com

Read More