Oman regulator suspends KPMG from new auditing work over ‘irregularities’

Reuters In Oman, KPMG is banned for one year from doing new auditing work for companies regulated by the CMA It is another setback for KPMG, which is under scrutiny after losing clients in...

Is U.S. Oil Getting Left Behind In The Green Energy Race?

By Tim Daiss In what can only be called a rebuke over American oil and gas companies’ lack of commitment to climate change concerns, a new report released late last week by CDP, a climate-focused research provider that...

Is OPEC’s Oil Outlook Too Bullish?

By Tsvetana Paraskova OPEC didn’t surprise anyone when it said in its World Oil Outlook (WOO) 2018 that the world’s primary energy demand will surge by 33 percent from 2015 levels to 365 million barrels of oil equivalent...

Natural Gas Skyrockets As China Pledges Huge Supply Boost

By Tim Daiss With an eye on last winter’s natural gas supply debacle, Chinese state-owned energy giant CNOOC has pledged a 20 percent rise in gas supply, the company said on Tuesday. The company, one of three state-run...

Are Oil Markets Overreacting?

By Irina Slav There is no need to take any action to halt the decline of oil prices that started a month ago, even though it accelerated sharply yesterday, with both Brent and WTI shedding 7...

Bakken Prices Crumble On Pipeline Woes

By Nick Cunningham Oil production is growing so quickly in the Bakken that the region is starting to suffer from painful pipeline constraints. U.S. shale is not new to pipeline bottlenecks. The Permian basin has suffered from...

Crude Build Halts Oil Price Recovery

By Julianne Geiger  The American Petroleum Institute (API) reported a sizeable crude oil inventory build for the week ending on November 9th. The build of 8.79 million barrels was the sixth in as many weeks. The...

European passenger car sales slump 7.4 percent in October

FRANKFURT (Reuters) - New car registrations in Europe slumped 7.4 percent in October on falling demand in Germany, France, Italy and Spain and as registrations of Audi, Nissan and VW branded vehicles saw sharp...

Oversupply fears cloud outlook for U.S. crude in 2019

Devika Krishna Kumar, Jessica Resnick-Ault NEW YORK (Reuters) - The U.S. oil market is scrambling to adjust to a deep selloff over the last several weeks, with forward prices signaling a supply glut which could...

US official says Halkbank investigation still underway: report

An unnamed US official who met with a group of Turkish journalists said that an investigation into Turkey’s state-owned Halkbank conducted by the Office of Foreign Assets Control (OFAC) is still ongoing, the Hürriyet...

Prominent managers loaded up on Apple before recent tumble

Svea Herbst-Bayliss, David Randall NEW YORK (Reuters) - Several prominent investors put fresh money to work in Apple (AAPL.O) during the third quarter even as they sold out of other high-flying tech companies, betting the...

Ruling AKP seeks changes to Turkish bankruptcy law over abuses

The Justice and Development Party (AKP) on Nov. 13 submitted a bill to parliament to tighten Turkey’s bankruptcy law aimed at preventing what the government says is abuse of the regulation by some healthy companies. A section of...

Turkey eyes to attract leading researchers through new incentive plan

The Turkish government has announced a new program in an effort to reverse the braindrain. A 24,000 Turkish Lira ($4,400) scholarship will be offered on monthly basis to senior Turkish or foreign researchers with an additional...

Socar says production continues as planned at Turkey’s new $6 bln oil refinery

Test production at 200,000-barrel-per-day STAR refinery, built by Azerbaijan’s state oil firm SOCAR, is proceeding according to the plan, the company has said. Reuters reported earlier Nov. 14 by quoting three sources familiar with the matter that the commercial...

Europe ready to retaliate if U.S. imposes auto tariffs: EU trade chief

David Lawder WASHINGTON (Reuters) - European Union Trade Commissioner Cecilia Malmstrom said on Wednesday that the EU has a list of potential retaliation targets ready in case U.S. President Donald Trump imposes auto tariffs on...

Trudeau says Canada to work with China on eventual free trade deal

REUTERS/Yiannis Kourtoglou SINGAPORE (Reuters) - Canadian Prime Minister Justin Trudeau said on Thursday his country would work with China towards a free trade deal. He was speaking in Singapore where he attended an Asia-Pacific summit. Trudeau visited...

U.S. state spending exceeds $2 trillion in fiscal 2018: report

Laila Kearney NEW YORK (Reuters) - U.S. state spending topped $2 trillion for the first time in fiscal 2018, with Medicaid expenditures rising the most along with a significant increase in transportation spending, according to...

Bitcoin crashes below US$6,000 mark, as fellow cryptocurrencies join the slide

Reuters Bitcoin was down 9 per cent to US$5,690, while ethereum was down 10 per cent Bitcoin fell to a more than one-year low on Wednesday, breaching a key support level of US$6,000 and causing a...

Exclusive: China sends written response to U.S. trade reform demands – U.S. government sources

Jeff Mason, David Shepardson WASHINGTON (Reuters) - China has delivered a written response to U.S. demands for wide-ranging trade reforms, three U.S. government sources said on Wednesday, a move that could trigger negotiations to bring...

Concerns Grow Over Israel’s Loosening Budget Ahead of Election Year

by Reuters and Algemeiner Staff As Israel approaches an election year, the central bank and analysts have become increasingly worried that the budget deficit is too high and gives the government no room to deal with a...