Bloomberg Oil tumbled to its lowest price in almost a year as a wave of unrest in China punished risk assets and clouded the outlook for energy demand, compounding the stresses in an already volatile crude market. West Texas Intermediate sinks towards $74 a barrel following three weeks of losses, while Brent traded at around $81. Protests over harsh …
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Bloomberg Oil posted a third weekly loss as the European Union (EU) suspended talks over a Russian oil price cap amid disagreements between member states. West Texas Intermediate futures falls 2.1% to settle at $76.28 a barrel after trading in a more than $3 range. European diplomats remain locked in talks over how strict the cap should be, having previously …
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Bloomberg Oil falls for a second day as the European Union (EU) considered a higher-than-expected price cap on Russian crude and evidence mounted of challenges to demand. West Texas Intermediate slipped below $78, trading in a narrow range and with volumes thin due to a US holiday. EU diplomats are locked in negotiations over how strict the Russian mechanism should …
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Bloomberg India is set to become a $30 trillion economy by 2050 — a nearly 10-fold jump from its current size — driven by rising consumption and social and economic reforms, according to Asia’s richest man Gautam Adani. The nation’s gross domestic product may start expanding by $1 trillion every 12 to 18 months within the next decade, increasing …
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Beijing / WAM China’s natural gas output logged robust growth last month, data from the National Bureau of Statistics showed. According to Xinhua news agency, the country produced 18.5 billion cubic metres of natural gas in October, up 12.3% from a year ago and the growth pace was 7.7 percentage points faster than that in September. In the first …
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Dubai / Gulf Time The Mena region witnessed 524 deals worth AED202.76 billion ($55.2 billion) during the first nine months of the year, according to the latest EY Mena M&A Insights report. Rising inflationary pressures, dampening economic demand and global market disruptions resulted in moderate growth in deal activity of 6% year-on-year (YoY) while deal value slipped by 23% …
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Rome / WAM Food import costs globally are projected to reach nearly $2 trillion this year, or higher than previously expected, the UN Food and Agriculture Organisation (FAO) said in a report. The new forecast of $1.94 trillion would represent an all-time high and a 10 percent increase over the record level of 2021. However, the pace of increase is …
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BALI / WAM The G20 health ministers have agreed to establish a pandemic fund. The fund will be commonly used to fix the health system and close the budget gap for the following five years, based on how the Covid-19 pandemic has been handled in the previous two years. At the G20updates press conference, Secretary General of the Indonesian …
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US equity-index futures rose and a bond selloff stalled as some investors bet a period of disinflation has already begun and the midterm election results will be favourable to markets. Contracts on the S&P 500 and Nasdaq 100 indexes added at least 0.4% each after dropping earlier. Most Treasuries erased losses, leaving only the two-year yield higher on the day. …
Read More »Tesla Inc is sending engineers and production staff from its recently upgraded Shanghai factory to its plant in Fremont, California, in a bid to boost production at the US facility. The Elon Musk-led carmaker will dispatch staff — in particular automation and control engineers — to assist efforts to increase output in Fremont, where Tesla produces the Model S, X, …
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