CNBC Utilities Page Wires

  • PORT MORESBY, Nov 18- Papua New Guinea will release a formal closing statement for the regional APEC forum in coming days, Prime Minister Peter O'Neill said on Sunday, as the 21- member body was unable to agree on a leaders' statement for the first time in its history. In his closing comments to the forum, O'Neill also said the group was trying to ensure "free and open"...

  • Bainimarama, who has been the Prime Minister of Fiji since leading a bloodless coup in 2006, has won 27 of 51 seats, according to the electoral commission. Fiji went to polls on Wednesday, only the second time the country has held democratic elections since 2006.. "The supervisor of elections has been in a great hurry to get the results out," Mahendra Chaudhry of the...

  • PORT MORESBY, Nov 18- Wide differences between China and the United States dominated an Asia-Pacific Economic Cooperation summit in Papua New Guinea on Sunday, with little evidence of consensus as officials struggled to frame a closing statement acceptable to all. Competition between the United States and China over the Pacific was also thrown into focus...

  • PORT MORESBY, Nov 18- Tonga has signed up to China's Belt and Road initiative and has received a reprieve from Beijing on the timing of debt payments shortly before an onerous schedule to repay loans was due to start. Tonga is one of eight island nations in the South Pacific that owe significant debt to China. Tonga's financial reliance on China dates back just over...

  • *U.S.-led plan seen as alternative to China energy proposal. PORT MORESBY, Nov 18- The United States and three of its Pacific allies said on Sunday they would work with Papua New Guinea to ensure most of the country had access to electricity by 2030, as Western powers seek to contain China's economic influence in the region. Leaders of the United States, Japan,...

  • BERLIN, Nov 18- Germany needs a package of tax cuts and other measures to shore up economic growth in the long term, Economy Minister Peter Altmaier said in an interview published on Sunday, days after the country posted its first economic contraction since 2015.. Altmaier, a member of Chancellor Angela Merkel's governing conservatives, said he was focused on...

  • NEW YORK, Nov 17- J. Crew Group Inc, known for its preppy men's and women's clothing, said on Saturday that its Chief Executive Officer James Brett is leaving the company, effective immediately. The decision, which leaves the retailer without a CEO ahead of the key holiday shopping season, was described in a statement as a mutual agreement between Brett and the New...

  • The Maldives, famous for its luxury resorts on palm-fringed islands, is the latest in a number of small countries where China has invested millions of dollars building highways and housing as part of its Belt and Road Initiative. Prime Minister Narendra Modi of India, which is seeking to claw back ground in a country it considered as part of its area of influence,...

  • DUBAI, Nov 17- Iran and Iraq could raise their annual bilateral trade to $20 billion from the current level of $12 billion, President Hassan Rouhani said on Saturday, despite concerns over the economic impact of renewed U.S. sanctions. Iranian trade officials denied that any food-for-gas scheme could be set up as Iran was a net exporter of food to Iraq.

  • SEOUL, Nov 17- Chinese President Xi Jinping intends to visit North Korea next year after receiving an invite from North Korean leader Kim Jong Un, South Korea said on Saturday, which would make Xi the first Chinese leader to do so since 2005.. Xi told South Korean president Moon Jae- in in a bilateral meeting on the sidelines of the Asia Pacific Economic Co-operation...

  • SHANGHAI, Nov 17- Four new outbreaks of African swine fever have been reported in China's provinces of Jiangxi, Yunnan and Sichuan as well as the municipality of Shanghai, the agriculture ministry said on Saturday. Ten pigs had died from the disease and 10 others had fallen ill on a farm with 150 hogs in the southeastern province of Jiangxi, the ministry said on its...

  • DUBAI, Nov 17- Iran and Iraq could raise their annual bilateral trade to $20 billion from the current level of $12 billion, President Hassan Rouhani said on Saturday, amid concerns in Tehran over the economic impact of renewed U.S. sanctions. Rouhani's remarks, made after a meeting with visiting Iraqi President Barham Salih, came about two weeks after the United...

  • SEOUL, Nov 17- Chinese President Xi Jinping intends to visit North Korea next year after receiving an invite from North Korean leader Kim Jong Un, South Korea said in a statement from its presidential office on Saturday. Xi told South Korean president Moon Jae- in that he would "make time" to visit North Korea next year, Kim Eui-kyeom, spokesman for South Korea's...

  • DUBAI, Nov 17- Iranian President Hassan Rouhani said on Saturday Iran and Iraq could raise annual bilateral trade to $20 billion from the current level of $12 billion, in remarks carried live by state television.

  • *China says U.S. protectionism damaging global growth. PORT MORESBY, Nov 17- The United States and China swapped barbs over trade, investment and regional security at an Asia Pacific Economic Co-operation summit on Saturday, as growing fault lines among members suggested little prospect of consensus at the weekend meeting. Vice President Mike Pence said there...

  • *China says U.S. protectionism damaging global growth. PORT MORESBY, Nov 17- The United States and China swapped barbs over trade, investment and regional security at an Asia Pacific Economic Co-operation summit on Saturday, as growing fault lines among members suggested little prospect of consensus at the weekend meeting. Vice President Mike Pence said there...

  • PORT MORESBY, Nov 17- The United States will join Pacific ally Australia to build a naval base on Papua New Guinea's Manus Island, U.S. Analysts say a Chinese presence on Manus Island could impact the West's ability to navigate the Pacific while offering Beijing close access to U.S. bases in Guam. Pence said the United States would partner with Australia and PNG on...

  • *China says U.S. protectionism damaging global growth. PORT MORESBY, Nov 17- The United States and China swapped barbs over trade, investment and regional security at an Asia Pacific Economic Co-operation summit on Saturday, as growing fault lines among members suggested little prospect of consensus at the weekend meeting. Vice President Mike Pence said there...

  • *China says U.S. protectionism damaging global growth. PORT MORESBY, Nov 17- The United States and China swapped barbs over trade, investment and regional security at an Asia Pacific Economic Co-operation summit on Saturday, as growing fault lines among members suggested little prospect of consensus at the weekend meeting. Vice President Mike Pence said there...

  • Vice President Mike Pence met with Taiwan's envoy to the APEC summit, Morris Chang, on the sidelines of a business forum on Saturday in Port Moresby, according to a media report. Despite Taiwan's lack of diplomatic recognition by the vast majority of countries, APEC allows the island to participate as a separate economic, rather than political, entity.