Category Archives: Markets & Economy

US sees Turkey as crucial energy hub: US official

Turkey and the U.S. will continue to build on their successful energy cooperation as the U.S. views Turkey as an important energy hub, U.S. Secretary of Energy Rick Perry said on April 27.      

Is The Geopolitical Risk Premium In Oil Overrated?

By Todd Royal

When OPEC instituted their recent production cuts, the theory was that oil markets would balance after crashing in 2014.

Total ‘could consider joining IPO’

Retuers

PARIS: French oil and gas major Total could consider taking a stake in the planned listing of part of Saudi Arabia’s Aramco, the company’s Chief Executive Patrick Pouyanne said on Thursday.

Dubai’s Alabbar to Weigh Buying Into Venture Capital Firms

by Dinesh Nair and Matthew Martin

Dubai-based business-tycoon Mohamed Alabbar is weighing buying into venture capital firms in the Middle East to help kick start his $1 billion technology fund, according to people familiar with the matter.

Exxon Hikes Dividend Yet Again, Despite Low Oil Prices

By Nick Cunningham

ExxonMobil has continued its streak of hiking its dividend, announcing another increase in its payout to shareholders on Wednesday. The oil major has boosted its dividend every year for more than three decades, but the collapse of oil prices since 2014 has resulted in more scrutiny over the company’s payments to shareholders.

Here’s What Wall Street Is Saying About Trump’s Tax Plan

by Julie Verhage and Felice Maranz

President Donald Trump released his tax plan Wednesday, and Wall Street has a few questions.

The one-page proposal includes cuts that would benefit businesses, the middle class and some high-earning individuals. However, it lacks detailson how these changes would impact the government’s budget deficit.

Uber Rival Gett Said to Seek $700 Million for Expansion

by Adam Satariano and Yaacov Benmeleh

The ruckus at Uber Technologies Inc. is leading rival ride-hailing services to take advantage.

Qatari Royals Said to Mull Sale of Luxembourg Private Bank BIL

by Dinesh Nair, Stephanie Bodoni, and Jan-Henrik Foerster

The Qatari owners of Banque Internationale a Luxembourg SA are considering a sale of their controlling stake in the private bank, which could fetch about $1.5 billion, according to people familiar with the matter.

Why Is China Funding Unsustainable Coal Projects In Pakistan?

By Richard Talley

On April 16th, Chinese investments in Pakistan through the much-vaunted China-Pakistan Economic Corridor (CPEC) were revised upwards, from $46 billion to a whopping $62 billion.

Oil’s April Rollercoaster Takes It Back to $50 on Supply Dilemma

by Ben Sharples

After a rally in the first half of April, oil is set to end the month back below $50 a barrel.

Exclusive: Tesla’s Klaus Grohmann ousted after clash with CEO Musk – sources

By Edward Taylor | FRANKFURT

Tesla executive Klaus Grohmann was ousted last month after a clash with Chief Executive Elon Musk over the strategy of Grohmann’s firm, which Tesla had acquired in November, a source familiar with the matter told Reuters.

Next battleground: An aging Great Lakes pipeline stirs new protest

By Nia Williams | CALGARY, ALBERTA

The growing protest movement against U.S. oil and gas pipelines has so far focused on stopping or delaying new construction, with some high-profile successes.

Boeing seeks U.S. anti-dumping probe against Bombardier jet

By David Lawder and Alwyn Scott | WASHINGTON/NEW YORK

Boeing Co on Thursday asked the U.S. Commerce Department to investigate alleged subsidies and unfair pricing for Canadian planemaker Bombardier’s new CSeries airplane, adding to growing trade tensions between the United States and Canada.

U.S. refiners bet on strong exports to balance market

By Jarrett Renshaw and Devika Krishna Kumar | NEW YORK

U.S. refiners have come out of maintenance season betting that big exports to Mexico and South America will help alleviate high product inventories and boost margins as the critical summer driving season nears.

Energy prices rebalancing after OPEC deal: Qatar

AFP

ISTANBUL: Global energy markets are heading to a rebalancing in the next few years after oil prices fell to historic lows due to oversupply, Qatar’s Energy and Industry Minister Mohammed Saleh Abdullah Al-Sada said on Thursday, praising members of the Organization of Petroleum Exporting Countries (OPEC) for their adherence to a “successful” November deal to cut production.

African Citizens Face Steep Fines For Not Going Green

By Zainab Calcuttawala

Kenyan anti-deforestation efforts have spurred new sustainable energy policies and encouraged green non-profits to take hold across the country, but capital costs and adherence to established practices are threatening the movement’s future.

Investors, South Korean tech suppliers brush off North Korea threat

By Jennifer Ablan and Stephen Nellis | NEW YORK/SAN FRANCISCO

Growing tensions with North Korea should worry global electronics firms such as Apple Inc as they source key parts from South Korea, but investors are brushing off such concerns and snapping up shares in key exporters, heartened by robust earnings and big investment plans.

Google parent Alphabet’s profit up 29 percent on strong ad sales

By Julia Love and Rishika Sadam

Google parent Alphabet Inc (GOOGL.O) posted a surge in profit and revenue on Thursday as its core advertising business continued to grow at an extraordinary rate and problems such as an advertiser boycott of YouTube had little impact.

Top Foxconn executives visit White House, but mum on details

Top executives of Foxconn, including founder and chairman Terry Gou, visited the White House on Thursday, Taiwanese TV footage showed, as the Apple Inc supplier ponders a $7 billion-plus U.S. investment in a display-making plant.

Trump says was ‘psyched to terminate NAFTA’ but reconsidered

By Jeff Mason and David Lawder | WASHINGTON

President Donald Trump told Reuters on Thursday that he was “psyched” to terminate the NAFTA trade deal with Canada and Mexico, but changed his mind after their leaders asked for it to be renegotiated instead.

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