By Henning Gloystein | SINGAPORE SINGAPORE Oil prices fell early on Monday as Iran increased exports undermining efforts by other oil producers to curb a global fuel supply overhang and as U.S. drillers increased activity for a 10th week. Brent crude futures LCOc1, the international benchmark for oil prices, were trading at $56.97 per barrel at 0019 GMT, down 13 cents from their last close. U.S. West […]
UK taxpayers are facing a £24bn bill for decommissioning oil and gasfields in the North Sea — threatening to wipe out remaining tax revenues from an industry that has been among the Treasury’s most reliable cash cows for the past four decades. The new estimates show how the North Sea oil industry risks becoming a net drain on UK resources as it enters its sunset years and […]
Showcase for Business Opportunities in Waste Management Sector, More Than 100 New Products and Services 08 January 2017 Abu Dhabi, United Arab Emirates Leading international experts will share practical experience to create a cleaner, healthier, and more sustainable environment, at the fourth EcoWASTE conference and exhibition to be held from 16 to 19 January as part of Abu Dhabi Sustainability Week (ADSW). Hosted by Masdar in […]
A year ago Mohammed bin Salman, Saudi Arabia’s deputy crown prince and the power behind the throne, electrified the global energy industry by revealing plans to float the world’s largest oil producer. The ambitious proposal for an initial public offering in state-owned Saudi Aramco is the centrepiece of the hard-charging 31-year-old’s vision to overhaul an economy seen as too heavily dependent on natural resources. One year on […]
A predicted collision of two stars may just give us a spectacular show in the year 2022. A thorough observation that began in 2013 led Larry Molnar, a Calvin College Professor, along with his students and his colleagues Karen Kinemuchi and Henry Kobulnicky to predict that a binary star is most likely going to collide and explode into a red nova in 2022, give or take a […]
Our round-up of the week’s best comment and analysis from the Financial Times focuses on debunking misleading parallels between Reaganomics and Trumponomics and what changes the new US president’s policies will force in investor behaviour. The selection is taken from our Markets Insight and Smart Money columns, written by industry contributors and FT commentators. The world is too different from the 1980s for Donald Trump to achieve […]
Hyperloop One global field operations senior vice president Nick Earle (L) and co-founders Rob Lloyd (C) and Josh Giegel at the Consumer Electronics Show in Las Vegas US startup Hyperloop One disclosed a list of locations around the world vying to put near-supersonic rail transit system to the test. The startup company keen to revolutionize the way people and cargo travel said that 35 contenders remained from […]
Oil started the first week of 2017 with a bang but ended it with a whimper, as the Opec fireworks that dominated the last quarter gave way to the more mundane reality of monitoring if the cartel will make good on its pledged cuts. Brent crude oil briefly touched an 18-month high above $58 a barrel on the first day of trading but there was little fresh […]
LAGOS A Nigerian militant group, which has claimed a wave of attacks on oil pipelines in the Niger Delta, said on Friday that it had asked its fighters to prepare to fight the “enemy” as authorities were not ready for dialogue. The Niger Delta Avengers had declared a ceasefire last year after staging major attacks on oil facilities crippling the OPEC member’s oil output in a fight […]
Low-cost, off-grid solar energy could provide significant economic benefit to people living in some remote areas, but a new study suggests they generally lack the access to financial resources, commercial institutions and markets needed to bring solar electricity to their communities. (via WSJ)
Dubai, UAE, 6 January 2017 Dubai Supreme Council of Energy (DSCE) held a press conference in Oman to promote the 3rd Emirates Energy Award (EEA 2017) that will be held under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai under the theme ‘Innovative Solutions for Clean Energy’. The press conference held at Grand […]
As the first battery cells roll off the production line at Tesla’s 1.9m sq ft Gigafactory in Nevada a scramble is under way to secure supply of the lithium that is their key ingredient. This week a small Australian mining company sold a lithium prospect in west Africa to a Chinese buyer for $78m — or more than 2,000 times the amount it paid for the deposit […]
06 January 2017 MARC has affirmed its AAA(fg) rating on KMCOB Capital Berhad’s (KMCOB) guaranteed serial bonds of up to RM320.0 million with a stable outlook. The rating and outlook reflect the unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin), which carries MARC’s insurer financial strength rating of AAA and counterparty credit ratings of AAA/MARC-1. As at end-December 2016, KMCOB has an outstanding amount […]
With all eyes likely on wage growth indications in the subtext of tomorrow’s payrolls report (following The Fed Minutes’ comments on full employment), Goldman Sachs is forecasting a better-than-expected 0.3% rebound in average hourly earnings (helped by more favorable calendar effects) and a better-than-expected 180k payrolls print (albeit with a small rise in the unemployment rate). However, they are careful to note that any downside can be […]
After a near double-digit rally in US stocks since Donald Trump’s election victory, the question for investors is whether the outlook for corporate profits can begin to justify investors’ newfound optimism. Much of the rally has been underpinned by hopes that a Trump administration will boost corporate profits through lower corporate taxes, a more accommodative regulatory regime and a more confident US consumer. Corporate chief executives will […]
New research done in Singapore shows that slightly raising indoor temperatures and equipping office workers with smart fans saves significantly on overall office building energy costs while maintaining employee comfort. (via WSJ)
Thursday 15:20 GMT Overview A surge in the Chinese renminbi is contributing to selling of the US dollar, its retreat from 14-year highs rattling the broader market and boosting the price of gold. US and European equities are becalmed following a mixed Asian session, while Treasury yields dip from recent peaks despite what many analysts consider were a relatively hawkish set of minutes from the Federal Reserve. […]
Good morning. Here’s our morning roundup of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. Embedded plentifully during the presidential campaign, the press may now leave most consumers in the cold. I’d been talking to Merrill Brown, director of the School of Communication and Media at Montclair, New Jersey State University, about Megyn Kelly’s big […]
UAE’s Abu Dhabi National Oil Company (Adnoc) is seeking to enter more “strategic” partnerships to develop new business streams as part of its new five-year business plan and 2030 strategy, according to a news report. The state-owned company announced new strategy in November last year, revealing plans to scale up its oil production target by 400,000 barrels per day (bpd) to 3.5 million bpd in 2018 and […]
SYDNEY The U.S. dollar crept nearer to 14-year peaks on Wednesday as an abundance of upbeat global economic data boosted Wall Street and signs of quickening inflation dented fixed-income debt. The strength of the U.S. currency pressured commodity prices and helped drag oil off an 18-month top, but gave Japan’s exporter-heavy stock market a fillip. The Nikkei climbed 2.1 percent, recovering from two sessions of losses as […]
President Nursultan Nazarbayev will join organisers of Astana Expo 2017 in officially unveiling their WFES pavilion and hosting hundreds of visitors. Kazakhstan Delegation to participate in WFES panel discussion on how the Expo can provide sustainability opportunities for upcoming host cities Astana and Dubai. Dubai, UAE: 3 January, 2017 A high-ranking delegation representing Astana EXPO 2017 that will include the President of Kazakhstan is to have […]
Osterhout Design Group recently raised $58 million with a plan to expand its smart glasses and augmented reality footprint from government and enterprise customers to consumers. At the Consumer Electronics Show, ODG made good on its expansion plans as it unveiled its R-8 and R-9 smart glasses. At CES 2017, ODG highlighted how its new smart glasses are designed to complement existing devices, provide augmented reality experiences […]
As Hurricane Sandy bore down on the Connecticut coast late October of 2012 and Gov. Dannel Malloy pled with residents to find high ground, reporter Neena Satija couldn’t shake one thought: “We are clearly not prepared for this.” Sandy passed, and sheer luck spared the state the worst of its impacts. But did officials acknowledge the averted disaster? Not in Satija’s view. “All of a sudden talk […]
|By Matein Khalid|“Few individuals alter the course of history. Fewer still change the map of the world. Hardly anyone creates a nation state. Mohammed Ali Jinnah did all three”. Dr. Stanley Wolpert’s words still give me goose pimples two decades after I first read his book. Mr. Jinnah founded Pakistan and was also my ancestral kinsman. I too was born in Karachi, the city by the sea, […]
