Japanese engineering giant JGC Corp. said Tuesday it has won a contract to help build a Canadian liquefied natural gas plant in a deal reportedly worth $9.4 billion.
JGC said its joint venture with U.S.-based Fluor Corp. was awarded the tender by Chevron Canada to design and build the Kitimat LNG plant in the western province of British Columbia.Full Story
Oil prices were mixed in Asian trade Tuesday, weighed by the prospect of a return of Iranian supplies after a landmark deal to curb Tehran's disputed nuclear program takes effect January 20.
New York's main contract, West Texas Intermediate (WTI) for February delivery, was up one cent at $91.81 in mid-morning trade, while Brent North Sea crude for February eased seven cents at $106.68.Full Story
The European Central Bank revealed on Monday the new 10-euro banknotes including a portrait of the Greek mythological figure of Europa that will come into circulation from late September.
"The new 10-euro banknote of the Europa series will start circulating on September 23," the ECB said in a statement.Full Story
European aircraft maker Airbus beat U.S. rival Boeing with record sales and orders last year but came second in terms of finished airliners delivered, figures from the company showed on Monday.
Airbus said that in 2013 it took 1,503 net orders, allowing for cancellations. This compares with 1,355 orders taken by Boeing. Total orders taken by Airbus is a record for the whole industry.Full Story
Mercedes Benz unveiled Sunday a larger, much better-appointed version of its best selling C-Class model to further distinguish it after introducing the cheaper CLA last year as its new "entry level" car.
The car that has made Mercedes the leading luxury car maker in the United States was the starter Benz for years.Full Story
The World Bank's private finance arm was criticized Friday by an internal ombudsman for its involvement with a controversial Honduras agriculture business accused of grave human rights violations.
The ombudsman said the International Finance Corporation was not diligent enough in reviewing questions about fights over land rights and murders of local peasants in supporting the palm oil plantation and processing projects of Dinant Corp. in 2008.Full Story
Total, the French oil giant, is to become the first major firm to explore for shale gas in Britain, the Financial Times reported on Saturday, despite a ban on exploration in France.
The firm will on Monday announce a deal under which it will join an exploration licence in Lincolnshire, central England, currently operated by U.S. company Ecorp, the newspaper said, citing people familiar with the matter.Full Story
Saudi Arabia is quietly planning to raze slums in one of its largest cities to make way for newer, restored neighborhoods as part of a wider plan to keep up with soaring demand for affordable housing.
A gap between what is available on the market and what many Saudis can afford has left people frustrated and accusing the government of corruption. A shortage of low- and middle-income housing means millions of Saudis cannot afford to buy a home.Full Story
U.S. President Barack Obama Friday nominated former Israeli central bank governor and renowned economist Stanley Fischer as vice chair of the Federal Reserve, completing a shakeup of the board's leadership.
The president also named former under secretary of the Treasury Lael Brainard to join the Fed board, and renominated current Fed governor Jerome Powell for a full term, setting up a full team for incoming chairwoman Janet Yellen.Full Story
Pakistan is hoping a sell-off of government stakes in state-owned energy companies, banks and troubled airline PIA will bring a much-needed boost to foreign exchange reserves, a top official said Friday.
Prime Minister Nawaz Sharif's privatization program cleared an important hurdle this week with the approval of financial advisers for the sale of shares in more than half a dozen state-owned companies.Full Story