The cost to upgrade the US electrical grid so it could cope with peak demands may be on the order of $180 billion, said the report in the Proceedings of the National Academy of Sciences As the planet warms due to climate change and hot days become more common, the US electrical grid could be unable to meet peak energy needs by century’s end, researchers warned Monday. […]
By Jamie McGeever | LONDON LONDON World stocks and bond yields rose on Monday, lifted by a re-emergence of so-called “Trump trades” as investors bet that the U.S. president’s tax reform plans will boost economic growth and corporate profits. Following on from Friday’s record high closes on Wall Street, Asian stocks rallied to 1-1/2-year peaks and European stocks rose for the fifth consecutive session on Monday, their […]
Health regulators have given their approval for the drug deflazacort for patients suffering from Duchenne muscular dystrophy. Available Overseas For $1,200 The steroid treatment has long been available outside United States but it was only last week that it received the green light from the U.S. Food and Drug Administration for Duchenne muscular dystrophy, a rare and incurable disease that most often affects boys and typically leads to […]
Copper prices in China rose as much as 7 per cent on Monday to their highest level in more than two years amid continued upward pressure from a strike at the world’s largest copper mine in Chile. The price of copper contracts on the Shanghai Futures Exchange leaped as high as Rmb50,300 ($7,306.79) per tonne in Monday Asia trading, the highest level since May 17, 2014. Workers […]
Submitted by Nick Kaman of Letters from Norway Introduction: Norwegians are just now starting to grapple with the effects of their “single cylinder” economy, mostly dependent on oil and gas (ca. 60% of exports). Despite optimism about $50-$70/barrel oil, American crude output is surging, on track to be the highest ever, since 1970, while cracks start to form in OPEC’s latest agreement. In addition to the oil […]
By Meng Meng and Josephine Mason | BEIJING BEIJING China is considering forcing steel and aluminium producers to cut more output, banning coal in one of the country’s top ports and shutting some fertiliser and drug plants as Beijing intensifies its war on smog, a draft policy document shows. The Ministry of Environmental Protection (MEP) has proposed the measures in a draft policy document seen by Reuters. […]
Compliance with a global supply cut deal by OPEC and non-OPEC oil producers is expected to improve over the next months, the UAE Energy Minister said on Sunday. OPEC has delivered more than 90 percent of pledged oil output curbs in January, according to figures the exporter group uses to monitor its supply seen by Reuters, making a strong start to implementation of its first production cut […]
By Tetsushi Kajimoto and Stanley White | TOKYO TOKYO Japan’s economy grew for a fourth straight quarter in the final three months of last year as a weaker yen supported exports, but tepid private consumption and the risks of rising U.S. protectionism cast doubts over a sustainable recovery. Data on Monday showed the world’s third-largest economy grew an annualized 1.0 percent in October-December, roughly in line with […]
Monday 04:15 GMT Overview Equities climbed and the yen softened after Japan reported gross domestic product figures for the final quarter of 2016 that suggested any monetary policy settings will remain on hold for now. Hot topic Japan’s economy closed out 2016 with growth of 0.2 per cent in the fourth quarter, below estimates of 0.3 per cent despite a boost to exports from a weaker yen […]
The UK is set to import its first ever cargo of liquefied natural gas from Peru as a pricing dispute forces shipments to Europe, with growing supplies of the supercooled fuel carving out new export routes. Peru LNG loaded a vessel this week that has its destination listed as the UK, according to data on Lima-based Perupetro’s website. It is carrying about 61,146 metric tonnes of LNG. […]
Yahoo News Two arrested at Panama Papers firmYahoo NewsIf you want to pay for skylights, marble floors, a not so small army of underpaid employees, and at least one bogus fee that’s named after the owner’s dog, buy your next not-so-cheap used car at a new car dealership. New car dealer prices are sky high … and more » (via Google News)
Here are the big questions facing investors ahead of a new trading week. How long does a reprieve for French bonds last? After a burst of selling early last week, French debt was granted a reprieve with the 10-year benchmark yield easing back below 1.10 per cent. In turn, the divergence over 10-year Bund yields also pulled back from a four-year plus high. Traders remain nervous after […]
Loss-making Dubai construction firm Arabtec is working with boutique investment bank Moelis to study options for the company’s capital structure, sources familiar with the matter told Reuters on Sunday. A mandate for restructuring advisory firm AlixPartners to reduce overheads at Arabtec was completed at the end of last year, the sources said, declining to be named as the information is not public. The sources said that the […]
Do you think camels are only useful for crossing the sand dunes – or as photo opportunities for tourists? Think again. Camels have always offered much more to Arab society than simply a means of transport. They also provided their owners with meat, milk, clothes and more besides – and many of these other uses for “Bedu’s best friend” are increasingly coming back into fashion. With the […]
If you want to check the pulse of the mining sector one of the best places to go is the Mining Indaba in Cape Town. For this year’s annual gathering, with the sector in a far better place than it was 12 months ago when the mining industry was wallowing in debt, many executives, bankers and government officials may have been looking forward to some warm weather […]
PNC Menon is a busy man — it takes several months to lock an interview into his diary. But on the day of our meeting in Dubai, the Indian-born real estate developer exudes characteristic warmth and courtesy, refusing to allow Arabian Business to leave without a bowl of Middle Eastern halva and repeatedly asking whether we have enough milk in our tea. A long-term UAE resident and […]
|By Arabian Post Staff| As much as 69 percent of oil demand growth up to 2022 will be in Emerging Asia, according to a report by Bank of America Merrill Lynch. Other key conclusions of the report include advancement of the oil demand peak from 2050 to 2035 due to fast growth in electrical vehicles, increased carpooling/sharing and autonomous driving; increase in consumption by 1.1mn b/d p.a. […]
DUBAI Compliance with a global supply cut deal by OPEC and non-OPEC oil producers has been high in January and that level of commitment is expected to improve over the next months, the United Arab Emirates Energy Minister said on Sunday. “The first month I see the commitment around OPEC has been there from the various independent sources. The level of commitment is high and we are […]
Opec countries drastically curbed their output in the first month of their new production agreement, in the clearest sign to date that the world’s biggest oil producers are committed to living up to the November pact to cut global supplies. The limits adopted by the oil cartel in January have been “one of the deepest in the history of Opec output cut initiatives”, the International Energy Agency […]
The European government bond market had what is known in technical circles as a minor freak-out this week. Yet as yields in eurozone bonds diverged sharply, the markets for stocks, corporate debt and currencies carried on regardless. The Cac 40 index of large French-listed companies was barely changed on the week. The euro weakened per cent against the US dollar, but at the same time the dollar […]
Investors remained cautious on the so-called Trump trade over the past week, as political wrangling in Washington drove more money into bond funds and bond proxies. Junk bond funds collected $1bn in new money in the week to February 8, while investment grade corporate bond funds gained $2.1bn, the fourth straight week of inflows for highly rated company debt, according to data from EPFR. Utilities-focused equity funds, […]
Is there really such a thing as a market bubble? I feel almost heretical answering this question. I and most readers have lived through two decades that were dominated by two vast investment bubbles and the attempt to deal with their consequences when they burst. Getting into definitions is beside the point. As US Supreme Court Justice Potter Stewart once said to define pornography: “I know it […]
Gulf countries are forecast to drive the bulk of 2017 sovereign debt issuance, followed by Latin America, according to Bank of America Merrill Lynch. Its latest GEMs Macro Monthly report said it expects Saudi Arabia, Argentina, Qatar and Kuwait to be the largest gross and net debt issuers in 2017. It said these four issuers could account for 37 percent of the total sovereign gross issuance. Among […]
Friday 21:00 GMT Overview US stocks and industrial commodities were riding high and the dollar forged ahead at the end of a week in which an outbreak of worries over forthcoming European elections was replaced by renewed bullishness about the policies of Donald Trump, US president. The more confident mood was also driven by optimism about corporate earnings and evidence of strong trade growth in China. Hot […]
