CNBC Utilities Page Wires

  • TEL AVIV, Feb 18- The Tel Aviv Stock Exchange expects to float nearly a third of its shares in an initial public offering some time this year, its chief executive officer said on Monday. Ben Zeev said last September that the bourse hoped to sell at least 31.7 percent of its shares solely to retail investors by the end of 2018, but on Monday he said that staff demands had...

  • *Alibaba unit developed app for Communist Party news content. BEIJING, Feb 18- A Chinese government propaganda app that recently became a huge hit was developed by Alibaba, two people at the company told Reuters, at a time when the nation's tech firms are under global scrutiny over their ties to Beijing. "Xuexi Qiangguo", which literally translates as' Study to make...

  • *Term deal to help IOC diversify away from OPEC suppliers. NEW DELHI/ SINGAPORE, Feb 18- Indian Oil Corp, the country's top refiner, has signed its first annual deal to buy U.S. oil, paying about $1.5 billion for 60,000 barrels a day in the year to March 2020 to diversify its crude sources, its chairman said on Monday. IOC is the first Indian state refiner to buy U.S. oil under...

  • The main credit rating agencies have lagged the financial markets in their assessment of Hungary's economic prospects, dealers and analysts said. Hungary's government bond yields dropped by 1-2 basis points from Friday. "With the United States closed, activity is low, but when America returns, we may see some further decline in yields," one Budapest- based trader...

  • Reckitt, once seen as a pacemaker for growth in the packaged goods industry, has experienced setbacks in the last three years, including a safety scandal in South Korea, a failed product launch, a cyber attack and the temporary shutdown of a baby milk factory in the Netherlands. Asked about Reckitt's medium-term target for "moderate" margin growth, Chief Executive...

  • *Rising U.S. output could undermine OPEC efforts. LONDON, Feb 18- Brent crude oil eased on Monday, but remained on track for its strongest first quarter in eight years, thanks to a growing belief among investors that OPEC's supply cuts will prevent a build-up in unused fuel. Brent futures were down 17 cents at $66.08 a barrel by 1018 GMT, having touched a 2019 high of...

  • LAGOS, Feb 18- The naira weakened on the forward market on Monday and Nigerian stocks fell to a one-week low after the country's surprise decision to delay national elections over the weekend, hours before polls were due to open. "There is some frustration on behalf of investors who have had concerns about this election for the better part of the past year and are...

  • FRANKFURT, Feb 18- German spot wholesale power prices fell on Monday as forecasts pointed to a more than doubling of wind power output on Tuesday, overriding the bullish effect of rising demand. *German Tuesday baseload power, at 41.40 euros per megawatt hour, was 11 percent down from the price for Monday delivery. *The equivalent French price was up 1 percent at 48...

  • Depleting middle distillate inventories in Singapore over the past few weeks, combined with a play in the market could be contributing to the sense of bullishness in gasoil at the moment, said Sukrit Vijayakar, director of energy consultancy Trifecta. Cash differentials for gasoil with 10 ppm sulphur content were at a discount to 37 cents a barrel to Singapore...

  • Feb 18- African miner Petra Diamonds named a new chief executive on Monday as it works to cut debt and generate free cash flow after first-half core earnings were hit by lower diamond prices. Analysts said appointing Richard Duffy, who has held finance posts in his 27 years in the mining industry, would benefit the company as it sought to cut debt.

  • *Euro back above $1.13, still near three-month lows. LONDON, Feb 18- The euro rose past $1.13 and riskier currencies like the Australian dollar strengthened on Monday as optimism over a breakthrough in U.S.- China trade war talks encouraged investors. "Generally the mood is still quite positive on the outlook for trade," said Adam Cole, a currencies analyst at RBC...

  • JOHANNESBURG, Feb 18- South Africa's struggling state-owned airline will reorganise into three business units as part of a revamp plan that could also involve the partial sale of its catering unit, its chief executive officer said on Monday. Vuyani Jarana said during a briefing that South African Airways, which hasn't made a profit since 2011, would organise...

  • JOHANNESBURG, Feb 18- South Africa's struggling state-owned airline will reorganize into three business units as part of a revamp plan that could also involve the partial sale of its catering unit, its chief executive officer said on Monday. Vuyani Jarana said during a briefing that South African Airways, which hasn't made a profit since 2011, would organize...

  • LONDON, Feb 18- Fresh from touching their highest level in four months on Friday, European stocks stalled on Monday as investors cashed in their gains ahead of further U.S.- China trade talks in Washington this week. Faurecia's gain bucked the trend in the autos sector which fell 0.7 percent, lagging the market after data showed car sales in China fell for a...

  • *FTSE 100 down 0.2 pct. *FTSE 250 up 0.4 pct. *Footasylum jumps after JD Sports takes stake.

  • ABU DHABI, Feb 18- State-owned Saudi Arabian Military Industries aims to generate $10 billion in revenue over the next five years, its chief executive said on Monday, as the wealth fund-backed group spearheads a drive to localise military spending. SAMI, owned by the Public Investment Fund, wants exports to account for 30 percent of its revenue by 2030, Chief...

  • *Nikkei rises to 2019 high, China blue chips bounce. London, Feb 18- Hopes of progress in Sino-U.S. trade talks and expectations of policy stimulus from central banks lifted world stocks to 2-1/ 2 month highs on Monday, though European gains were dampened by concerns over the car sector's outlook. Trade negotiations between the United States and China will resume...

  • U.S. and Chinese officials will continue negotiations in Washington this week after both sides reported progress at talks in Beijing last week. "With both sides set to resume negotiation in Washington this week, market will continue to look out for signs of concrete progress." China's blue-chip index climbed 3.2 percent, and the Shanghai Composite index rose...

  • LONDON, Feb 18- Sterling drifted higher on Monday after registering three consecutive weeks of losses as investors waited for the outcome of Brexit talks between Britain and the European Union. British Prime Minister Theresa May plans to speak to every EU leader and the European Commission chief to seek changes to her EU withdrawal agreement, after another...

  • LONDON, Feb 18- Facebook is "open to meaningful regulation", it said on Monday after British lawmakers said that big technology companies should be subject to a compulsory code of ethics to tackle the spread of fake news and abuse of users' data. "We are open to meaningful regulation and support the committee's recommendation for electoral law reform," said...