Bloomberg Bank Indonesia is taking a firm stance against cryptocurrencies as it urges all parties to refrain from owning, selling or trading the tokens. “Owning virtual currencies is very risky and inherently speculative,” the central bank said in a statement on Saturday. The digital tokens “are prone to forming asset bubbles and tend to be used as method for money ...

Bloomberg Maoyan Weying, China’s biggest online movie ticketing platform, is planning a Hong Kong initial public offering that could raise about $1 billion, people with knowledge of the matter said. The company, which also helped fund the latest “Transformers” movie, has held initial discussions with potential advisers about the share sale, according to one of the people. It is targeting ...

SINGAPORE / Reuters Oil prices have risen above $70 per barrel for the first time since 2014 as investors bet supply cuts led by OPEC will dominate the market this year. But some traders are sounding a warning — the world’s biggest crude consuming region, Asia, is showing signs of an impending downward correction. Prices for Brent crude oil futures, ...

Bloomberg Kazakhstan has overtaken Iraq to become the biggest over-producer in the pact between OPEC and its allies to curb oil output. The Caspian Sea nation’s output has been rising over the past year as the giant Kashagan field ramps up production. That’s in spite of Kazakhstan’s pledge to pump 20,000 barrels a day less under the landmark deal agreed ...

NEW DELHI / Reuters Indian oil consumption in 2017 grew at its slowest in four years, according to government statistics, hit by the government’s demonetisation move and a tax increase that knocked the gain in fuel use back to a modest 2.3 percent. The low growth also coincided with another year of weak, albeit improving, new vehicle sales. Last year’s ...

Bloomberg Less than two weeks in, 2018 is shaping up to be the year of the fracker. The world’s two biggest oilfield service providers, Schlumberger Ltd. and Baker Hughes, are the best performers in the Standard & Poor’s 500 Energy Index this year. Even smaller rivals are cashing in on investor enthusiasm over a 50 percent rise in oil prices ...

Bloomberg Royal Dutch Shell Plc is taking small steps towards a future dominated by electric cars, renewable energy and carbon constraints, demonstrating its intent not to remain solely an oil and gas company. The energy giant agreed last month to purchase First Utility Ltd., the UK’s seventh-largest power provider. Its offshore-wind partnership with Eneco may expand further, with newspaper Telegraaf ...

Bloomberg While other mainstream auto brands head for sliding US demand this year, Jeep is rolling out new models to buck the trend and bring 16 straight months of sales declines to an end. Fiat Chrysler Automobiles NV’s most valuable brand is launching an all-new version of its iconic Wrangler sport utility vehicle in the first quarter, followed quickly by ...

Bloomberg A report on whether the UK has the right to change its mind on Brexit and remain in the European Union concluded that it would have to be a matter for judges. The European Parliament study said that the lack of any indication either way in Article 50 of the EU’s Lisbon Treaty means that it can’t be a ...

Bloomberg Facebook Inc., seeking to calm creators of articles and video after announcing a change in how their work will be promoted in its news feed, sent an email pledging to help them adapt. Stories and clips that draw comments and likes or are shared by users are more likely to be seen, Facebook said. The company will also continue ...