CNBC Utilities Page Wires

  • TOKYO, Feb 20- U.S. private equity firm Bain Capital has picked Nomura and Mitsubishi UFJ Morgan Stanley to manage an initial public offering of Japan's Toshiba Memory, a deal that could happen as early as September, people familiar with the matter said. The listing of the world's second-largest maker of NAND flash memory chips, which a Bain-led consortium bought...

  • DUBAI, Feb 20- Saudi Arabia will soon discuss with international banks its plans to use export-credit agencies in other countries to help it finance infrastructure projects, sources familiar with the matter said. Saudi Arabia has embarked on an ambitious economic transformation plan involving infrastructure projects worth billions of dollars, in areas...

  • SAUDI ARABIA TO MEET BANKS IN COMING WEEKS FOR ECA-BACKED FINANCING, SOURCES SAY.

  • SINGAPORE, Feb 20- Asia's cash differentials for 10 ppm gasoil edged higher on Wednesday, helped by stronger buying interests in the Singapore physical market, while the front-month time spread narrowed its contango structure. The benchmark gasoil cash differentials narrowed their discounts to 36 cents a barrel to Singapore quotes on Wednesday, compared...

  • TOKYO, Feb 20- Carlos Ghosn's new lawyer took aim at Nissan, prosecutors and courts on Wednesday, dismissing the charges against the ousted chairman as an internal company matter and saying Japan was out of step with international norms by keeping his client in jail. "This should have been dealt with as an internal matter," Junichiro Hironaka, nicknamed the Razor,...

  • *FTSE 100 up 0.1 pct. Feb 20- Britain's FTSE 100 rose as Lloyds gained after promising to return cash to shareholders and optimism prevailed around the China-U.S. trade talks, while Sainsbury's slumped after regulators objected to its takeover of Walmart's Asda. The FTSE 100 was up 0.1 percent and the FTSE 250 up 0.2 percent by 0951 GMT.

  • *FCA says London market resilient to Brexit for now. LONDON, Feb 20- Britain's wholesale insurance brokers got a clean bill of health from the markets watchdog on Wednesday, providing some relief for an industry already spending millions of pounds on Brexit. London's insurance market, which spans the Lloyd's of London market and brokers such as Aon, Willis Towers...

  • CAIRO, Feb 20- Bank Audi SAE has begun due diligence on buying National Bank of Greece's branches in Egypt, a banker involved in the process said. The due diligence will be completed by the end of February, the banker said. The website of National Bank of Greece's Egyptian unit lists 18 branches in Cairo and elsewhere in the country.

  • Dubai, Feb 20- United Arab Emirates' National Oil Company Group said on Wednesday it had formed an alliance with state-run Indian Oil Company as part of the Dubai- based firm's global expansion strategy. The partnership will expand ENOC's "presence to over 180 ports in 28 countries to provide its customers with high-end marine lubricants and technical services,"...

  • NEW DELHI, Feb 20- Saudi Arabia's Crown Prince Mohammed bin Salman said on Wednesday he saw investment opportunities of more than $100 billion in India over the next two years as he began his first official visit amid tensions between arch foes India and Pakistan. India rolled out the red carpet for the crown prince as it seeks diplomatic support against...

  • LONDON, Feb 20- Britain's competition regulator has dealt a potentially fatal blow to Sainsbury's planned $9.5 billion takeover of Walmart's Asda, saying it was unlikely the companies would be able to address its "extensive" concerns about the deal. "Close to the worst possible outcome," said Bernstein analyst Bruno Monteyne. Sainsbury's, Britain's...

  • NAIROBI, Feb 20- Kenya set the stage for the country's first green bond with new rules on Wednesday, part of efforts to diversify its capital markets. Like other African nations, Kenya needs to raise billions of dollars to invest in infrastructure projects including roads, water and irrigation, railways and power generation. "The government of Kenya have come up...

  • *CEO says UK economy resilient despite Brexit. Britain's biggest mortgage lender posted a 24 percent rise in net profits to 4.4 billion pounds, below expectations of 4.6 billion pounds, according to a company-provided average of analyst forecasts. Britain's largest domestic bank resisted any suggestion of complacency in its outlook for the economy, saying...

  • Feb 20- Emerging market stocks jumped on Wednesday encouraged by some progress in China- U.S. trade talks, while currencies firmed as minutes of the last U.S. President Donald Trump on Tuesday said that trade talks with China were going well and suggested he was open to pushing off the deadline to complete negotiations. Stocks across Asia were well in the black,...

  • DUBAI, Feb 20- Flydubai swung to a loss of almost 160 million dirhams for 2018, it said on Wednesday, citing higher fuel costs and unfavourable currency moves. The state-owned Dubai airline, which made a profit of 37.3 million dirhams in 2017, said fuel costs accounted for 29.8 percent of operating costs last year compared with 25 percent the previous year.

  • *FCA says London market resilient to Brexit for now. LONDON, Feb 20- Britain's wholesale insurance brokers got a clean bill of health from the markets watchdog on Wednesday, providing some relief for an industry already spending millions of pounds on Brexit. London's insurance market, which spans the Lloyd's of London market and brokers such as Aon, Willis Towers...

  • *Airline to report profit of about $293 mln, double consensus est. Feb 20- Hong Kong's Cathay Pacific Airways Ltd projected its annual profit at more than double analyst estimates as its turnaround plan designed to cut costs and boost revenue pays off, sending its shares surging nearly 9 percent on Wednesday. Before the announcement, 15 analysts polled by...

  • *Cyprus sells 15- year debt, in longest bond sale. LONDON, Feb 20- Government bond yields in tiny Cyprus tumbled on Wednesday and stood out as the star performer in euro zone debt markets, a day after a 15- year bond sale drew solid demand in a further sign of progress for a country that exited its bailout in 2016.. Cyprus on Tuesday sold its longest ever issue via a...

  • *New CEO Ben Smith seeks new savings. But Chief Executive Ben Smith, who joined in September, promised better-coordinated networks and fleets, after overcoming KLM resistance to closer integration. Blighted by restrictive French union deals and strikes that last year wiped 335 million euros off earnings and forced out its previous CEO, Air France-KLM has...

  • LONDON, Feb 20- Encouraging signs from trade talks between the world's two biggest economies helped boost European shares on Wednesday while the threat of a blocked merger deal sank Sainsbury's shares. Germany's trade-sensitive DAX led the way with a 0.6 percent gain and the pan-European STOXX 600 rose 0.4 percent. President Donald Trump said on Tuesday that...