After the excitement around Opec agreeing oil supply cuts with Russia and other non-members at the end of last year, attention in 2017 has quickly shifted to the next key question: will they actually deliver all the promised cuts? A group of companies believe that they are positioned to deliver that answer, trumpeting their years of experience tracking global oil flows, using everything from modern satellite technology […]
OPEC is unlikely to deliver fully on its target to cut production despite Saudi Arabia saying it had trimmed more than it had committed to, OPEC delegates say, but compliance of 80 percent would be good and as low as 50 percent acceptable. The Organization of the Petroleum Exporting Countries is planning to cut its output by 1.2 million barrels per day to 32.50 million bpd from […]
PUTRAJAYA: When stall supervisor Eda Umar first met the late Tan Sri Adenan Satem at the Rasa Alamanda Foodcourt here in 2014, she did not know he was the Chief Minister of Sarawak. What she did come to know was that he loved her sizzling yee mee. “His favourite was the black sauce chicken yee mee with mushrooms,” recollected Eda, a qualified chef who personally attended to […]
Photo About 10,000 Palestinians took to the streets in the Jabaliya refugee center on Thursday. Credit Khalil Hamra/Associated Press JABALIYA, Gaza Strip — The nearly two million residents of Gaza have been suffering through a cold winter of crippling power cuts, receiving electricity for only three or four hours a day. The popular anger over the cuts erupted on Thursday in a large protest. In a rare […]
Friday 04:50 GMT Overview Asian stocks were mixed in the wake of a retreat by US stocks and the dollar as investors continued to assess the fallout from Donald Trump’s combative press conference on Wednesday. What to watch Shares in Nintendo were down 2 per cent after the company announced details about its new Switch video game console, including price and technical specifications. The device, a hybrid […]
Donald Trump’s upcoming presidency has led many investors to size up oil, coal and gold trades that could benefit from the sweeping changes he has promised. But a growing band of specialist commodity traders think investors may be overlooking the one raw material in line for bigger price gains than others when the US president-elect takes office: uranium. While interest in the key fuel for nuclear power […]
It’s almost time for Nintendo’s Switch-focused event, where it’s expected to disclose official details about the forthcoming hybrid console. Once Nintendo itself proffers official information, keen-eyed anticipants may finally straighten out the rumple caused by a flurry of rumors that has surfaced — surfacing, still — since its reveal late October last year. It’s known that the console can easily switch between dock and undocked modes, as revealed […]
Oil continued its see-saw start to the new year, registering its biggest advance in six weeks on Thursday after Opec’s biggest producer said that it had slashed output to the lowest level in almost two years. Brent, the global oil market, rose as much as $1.24 to $56.43 a barrel after Saudi Arabia’s energy minister Khalid al-Falih said that the kingdom had cut production to less than […]
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A classic distinction in markets exists between bulls and bears, the snorting herd of enthusiasts and the pessimists who roar at them from caves, waiting for a panicked stampede. Yet a sign of the uncertain outlook, with the consequences of the incoming Trump administration unknown, elections due in Europe and Brexit still to begin, may be how those labels don’t fit quite as easily as before. For […]
By Mohamed Zaki and Mohamed Abd El-Ghany | CAIRO CAIRO In an economic crisis that has led to a shortage of medicines, Egyptians are skipping trips to drug stores and instead turning to herbal remedies to treat every-day illnesses. In the Cairo working class neighborhood of Basateen, dozens can be seen lining up outside a decades-old herbal spice shop with pyramid-shaped stacks of jars on display, filled […]
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. Donald Trump is nothing if not transparent, especially when it comes to views of the press and outright evasions about his business holdings. That was self-evident at his Wednesday spectacle (labeled “press conference”) in which he bashed media and also […]
Car sales in China are forecast to slow sharply this year as stimulus measures designed to boost demand are set to end. Sales are expected to increase 5 per cent in 2017, a significant drop from growth of 13.7 per cent last year, which was the fastest rate since 2013 despite a broader economic slowdown. Growth in 2016 exceeded expectations due to tax incentives on smaller vehicles, […]
Global investors sold the dollar and sought government bonds and gold on Thursday in the wake of Donald Trump’s pre-inauguration press conference, revealing the first sign of buyers remorse for a reflation rally that has dominated global markets since early November. Mr Trump’s press conference, his first as president-elect, was held in New York’s Trump Tower on Wednesday and was dominated by his ties to Russia, his […]
Image: HTC HTC continues to struggle financially and after the recent release of the Google Pixel and Pixel XL, made by HTC, I thought we might see them go back to being a silent ODM once again. With today’s news of the HTC U Ultra and U Play, HTC is showing that it will continue to fight for market share in today’s competitive smartphone environment. The HTC […]
Having publicly trashed the US economy’s performance during the presidential campaign, Donald Trump has become its most prominent cheerleader. The president-elect has in recent weeks claimed credit for surging consumer confidence, stellar equity prices and stronger end-of-year household spending, arguing there was “no hope” before he arrived on the scene. To Barack Obama’s supporters, claims from Mr Trump that the US was cloaked in economic gloom before […]
Thursday 08:40 GMT Overview The dollar, Treasury yields and equities are lower — with pharmaceutical groups in the firing line — as traders question the “Trumpflation trade” following the US president-elect’s fractious press conference on Wednesday. The yen is stronger, signalling waning risk appetite among traders, while gold is back above $1,200, a seven-week high. Hot topic Investors are reassessing the implications of a Trump presidency. Markets […]
By Susan Cornwell | WASHINGTON WASHINGTON The U.S. Senate on Thursday took a first concrete step toward dismantling Obamacare, voting to instruct key committees to draft legislation repealing President Barack Obama’s signature health insurance program. The vote was 51-48. The resolution now goes to the House of Representatives, which is expected to vote on it this week. Scrapping Obamacare is a top priority for the Republican majorities […]
Foreclosure proceedings affected nearly a million U.S. homes and other real estate last year, down 14 percent from 2015 and down 70 percent from the worst of the housing crisis in 2009, a report released Thursday shows. Foreclosures hit a 10-year low and property owners in all but 15 states experienced fewer of the early stages of foreclosure, usually begun after owners have missed four mortgage payments, […]
Investors drew a line in the sand on Wednesday, forcing companies to rewrite bond documents in a stinging rejection of covenant packages that were seen as hostile to bondholders. Marketing material for bond offers by General Motors’ financial subsidiary, chipmaker Broadcom and the Brazilian pulp manufacturer Fibria Celulose dropped language that deprived investors of certain premiums should the companies breach their covenants and default, according to three people with knowledge […]
The year-long mobile share tug-of-war between Apple and Android is far spicier now than it was this time last year, according to the latest data from Kantar. For the three months ending November 30, iOS saw a 3 percentage point increase to 43.5 percent in the United States compared to October’s numbers, and a large jump on the 37 percent reported a year ago. A similar pattern […]
Prime Minister Joseph Muscat with Minister Without Portfolio Konrad Mizzi. Minister Without Portfolio Konrad Mizzi was chosen by the Prime Minister to chair the EU’s Energy Council during Malta’s six-month rotating presidency, the Times of Malta is informed. Dr Mizzi lost his energy and health portfolios last May after his name surfaced in the Panama Papers leak. In stripping Dr Mizzi of his energy and health portfolios […]
The New York Stock Exchange is expanding trading on its storied floor as part of a move to an integrated technology system for trading equities and options on its markets. NYSE, owned by Intercontinental Exchange, plans to roll out the technology system, called Pillar, throughout 2017. As part of the move it will increase the number of securities that can be traded on the floor from 3,166 […]
By Emily Chow | SUNGKAI, Malaysia SUNGKAI, Malaysia The Malaysian plantation district of Sungkai has become an initial – and unlikely – battleground for an election that embattled Prime Minister Najib Razak is expected to call this year. Sungkai is home to ethnic Malays who work for the national palm plantation operator, Federal Land Development Authority (Felda). Known as “Felda settlers”, they have long been among the […]
