World Business: Roundup, July 14

• Source: Global Times
• [23:47 July 13 2009]
• Comments

400b euro solar plan

Twelve European companies yesterday launched a 400 billion euro ($560 billion) initiative to set up huge solar farms in Africa and the Middle East to produce energy for Europe. The consortium which signed the protocol says the huge project could eventually provide up to 15 percent of Europe’s electricity needs.

Rebels attack Lagos

Nigerian rebels took their battle with the government into the country’s main city, targeting an oil tanker loading facility in Lagos harbor in an unprecedented attack on the metropolis.

The Movement for the Emancipation of the Niger Delta (MEND) said the attack had left the facility in flames after the sound of an explosion just before midnight Sunday reverberated across the city of 16 million people. The government later confirmed the attack.

The MEND campaign against Nigeria’s main oil facilities over the past three years has badly hit much needed oil revenues.

Honda hybrid coming

Japan’s second largest carmaker Honda Motor plans to accelerate the launch of its hybrid vehicles, seeking to adapt quickly to changing customer demands, group president Takanobu Ito said yesterday.

Honda will bring forward the launch of the CR-Z hybrid sports utility vehicle to February 2010 in Japan, said Ito, who took the reins last month.

Agencies