Saudi Arabia has told its US and European customers it will reduce oil deliveries from January, as Russia said it was confident non-OPEC producers would fully join OPEC’s output limits on Saturday in the first such move since 2001. Saudi Arabia told the customers about lower supplies in line with the output reduction agreed by the Organization of the Petroleum Exporting Countries last week, according to a […]
Barack Obama has ordered US intelligence agencies to conduct a “full review” of alleged Russian hacking into this year’s election and to issue a report before he leaves office next month. Lisa Monaco, White House counter-terrorism adviser, said that the review, which would be sent to Congress but which might not be made public, would look at both what happened during the election and would consider “some […]
The US government is to check if sanctions where violated when Russia this week struck a deal to sell a stake in oil producer Rosneft to a consortium of Qatar’s sovereign fund and commodities trader Glencore, the White House said. “The experts at the Department of Treasury that are responsible for constructing and enforcing the sanctions regime will carefully look at a transaction like this,” White House […]
COLOMBO, Sri Lanka—Sri Lanka’s heavily indebted government signed an agreement in principle on Thursday to sell an 80% stake in a deep-water port on the nation’s southern coast, close to one of the world’s busiest sea lanes, to a Chinese state-owned company, senior officials said. Under the deal, a copy of which was reviewed by The Wall Street Journal, China Merchants Port Holdings Co. would pay about […]
Samsung’s annual year-end reorganization announcement is being delayed. South Korea’s largest business group usually announces reshuffles and structural changes within the second week of December. The changes are indicators of what direction and strategy the conglomerate plans to take the following year. For instance, last year, Samsung Electronics made Injong Rhee, a software expert, the head of mobile division’s research team one. Since then, the company has […]
In 2011, as skincare brand Nivea marked its centenary with a string of parties across the world, Indian billionaire BR Shetty hosted his own private celebration in his extraordinary apartment in Dubai’s Burj Khalifa. No humble pied-à-terre, this pad occupies the entire 100th floor of the tallest building in the world — not bad for the former pharmaceutical salesman, who was one of the first people to […]
By Jack Kim and Cynthia Kim | SEOUL SEOUL South Korean President Park Geun-hye, engulfed in an influence-peddling scandal, faces a historic impeachment vote in parliament on Friday that could see her become the country’s first democratically elected leader to be ousted from office. Parliament is expected to vote in favour of impeachment, with support from some members of Park’s conservative Saenuri Party, but the Constitutional Court […]
Day3.jpg Today looks like it’s going to be a really interesting day the Internet Governance Forum (IGF). Talks on human rights, cyber security, and how to stand for diversity and inclusiveness in discussions around how the Internet grows. Day 3: Thursday, December 8 WHAT WHEN / WHERE ISOC REPRESENTATIVE BPF Cybersecurity 9:00-10:30Workshop Room 9 Hiroshi Esaki speaking Human Rights: Broadening the Conversation 10:00 – 13:00Main Session Room Sally Wentworth speaking […]
Investors have valued Athene at about $7.4bn in a stock market launch of the US pensions provider, according to people familiar with the matter. Selling shareholders led by private equity house Apollo Global Management are set to raise $1.08bn as bankers handling the float prepare to price shares in the company at $40 apiece, the people said. That is the middle of a range of between $38 […]
08 December 2016 “The power and energy landscape in Africa is undergoing significant change” says Evan Schiff, African Utility Week event director, adding that current trends include “the availability of private investment for power and energy projects, the fast development of energy storage, renewable energy is becoming cheaper, gas that is an increasingly attractive mode of power generation in Africa, and that in the next 10 years, […]
By Steve Scherer and Francesca Piscioneri | ROME ROME Italy’s president began talks with political leaders on Thursday to seek a way out of the political crisis caused by the resignation of Prime Minister Matteo Renzi. Sergio Mattarella, a 75-year-old former constitutional court judge, must decide if someone can lead Italy to elections scheduled for 2018, or whether an interim government should serve until a snap vote […]
By freelance contributor Ben Bohane in Ly Son Island Posted December 09, 2016 05:35:32 Photo: Ly Son island, looking out towards the Paracels and Spratlys. (ABC News: Ben Bohane ) Related Story: Vietnam moves rocket launchers into disputed South China Sea: report Related Story: Vietnam expanding South China Sea runway: reports Sparkling on the horizon as our boat navigates the swell is one of the world’s most […]
China’s Fujian Grand Chip Investment said it had dropped its offer for Aixtron, the German chip equipment maker, six days after President Barack Obama blocked the deal on national security grounds. Fujian’s takeover vehicle Grand Chip Investment said its offer had lapsed because it had failed to gain regulatory approval from the US Committee on Foreign Investment. Aixtron’s shares fell more than 4 per cent to €3.73 […]
By Pak Yiu and Lisa Jucca | HONG KONG HONG KONG Cardinal Joseph Zen, the most senior Chinese Catholic cleric, says the participation of an excommunicated prelate at two bishop ordinations in China was a “slap in the face” for Pope Francis just as Rome seeks a historic deal with Beijing. Bishop Lei Shiyin, who was excommunicated by the Vatican in 2011 for accepting his appointment without […]
BAGHDAD Iraq’s parliament speaker called on Thursday for a government inquiry into air strikes on a western border town which killed around 60 people, mostly civilians. Hospital sources and local parliamentarians said three air strikes killed dozens of civilians, including 12 women and 19 children on Wednesday in a market district of the Islamic State-held town of Qaim, close to the border with Syria. A spokesman for […]
The UK’s National Grid has agreed to sell a 61 per cent stake in its gas distribution network to a consortium of global investors, a deal that will plug the 11m homes the network serves into investors such as China’s sovereign wealth fund and Australian investment bank Macquarie. The terms of the transaction imply an enterprise value for the division of around £13.8bn including debt. The investment […]
By Ju-min Park and Jack Kim | SEOUL SEOUL South Korea’s parliament introduced a bill on Thursday to impeach President Park Geun-hye, setting the stage for a historic vote to oust the embattled leader engulfed in an influence-peddling scandal. Parliament is expected to vote on Friday in favour of impeachment, although the Constitutional Court must decide whether to uphold the motion, a process that could take up […]
The boss of Dubai’s Emaar Properties has announced that the developer is set to “tighten its belt” next year as the emirate’s property market continues to stabilise, it was reported on Wednesday. Bloomberg quoted company chairman Mohamed Alabbar as saying that Dubai’s real estate market will see a “rebalancing” between supply and demand into next year. He said at a conference in Abu Dhabi that the company […]
MOSCOW — The Russian government announced Wednesday that it will sell nearly 20 percent of its state oil company, Rosneft, to the Swiss commodity trading firm Glencore and the sovereign wealth fund of Qatar. The deal defies expectations that no investor would dare buy a share in the Russian asset, given Western sanctions against the government of President Vladimir V. Putin. But the emergence of foreign money […]
A group of investors will pay $1.12 billion for Saudi Oger’s stake in Jordan’s Arab Bank and expects to complete the deal by mid-January, a member of the consortium told Al Arabiya TV on Wednesday. Saudi Arabian conglomerate Astra Group was part of the consortium, led by Arab Bank Group Chairman Sabih al-Masri, that was buying the 20 percent stake, Ghassan Akeel, chief executive for Saudi Arabia […]
Blackrock’s chief multi-asset strategist summed up tomorrow’s anxiously awaited ECB meeting best by noting that “what’s priced into markets is a fully fledged extension of the [bond-buying] program,” but warns that, thanks to a muted reaction to the Italy vote and recent encouraging data, “there’s a significant chance the ECB disappoints markets.” As bond traders bet on a six-month QE extension, Citi warns, anything less will be […]
By Sarah Marsh | HAVANA HAVANA Cuba said on Wednesday it hoped to sign off on at least half a dozen agreements with the United States before businessman Donald Trump, who has threatened to derail detente between the former Cold War foes, becomes president on Jan. 20. Cuban and U.S. officials held talks in Havana to discuss what more could be accomplished during President Barack Obama’s remaining […]
This article by David Haggith was published first on The Great Recession Blog: I risked losing my fellow anti-establishment readers in September by suggesting Trump may be an establishment Trojan horse. After seeing Trump choose Pence as VP and a Goldman Sachs exec as campaign finance manager, I was concerned the establishment knew a citizen’s revolt was brewing and made sure that even the road to revolt led back to […]
By Francesca Piscioneri and Steve Scherer | ROME ROME Italian Prime Minister Matteo Renzi will hand in his resignation on Friday, a parliamentary source said, as President Sergio Mattarella seeks to slow the pace of an unfolding political crisis. Renzi vowed to resign in the early hours of Monday after a bruising referendum loss, but Mattarella, whose powers include naming prime ministers and dissolving parliament, asked him […]
