News

Bloomberg For Advanced Micro Devices Inc. bulls, 2017 was a year to forget. AMD finished the year dead last in the Philadelphia Semiconductor Index after quadrupling in 2016. The gains catapulted the chipmaker to the best return among technology companies in the Nasdaq Composite Index. It also ratcheted up expectations for financial performance that AMD was unable to meet. “Expectations ...

Bloomberg The longest winning streak in two decades propelled cotton to 2017’s biggest increase among crop commodities, and hedge funds are ready for more gains in 2018. Of the nine components tracked by the Bloomberg Agriculture Subindex, only cotton and wheat contracts posted gains last year. The fibre lead the way with an 11 percent advance as demand grew for ...

Bloomberg In the year that President Donald Trump pulled out of the Paris accord and downplayed global warming as a security threat, the US received a harsh reminder of the perils of the rise in the planet’s temperature: a destructive rash of hurricanes, fires and floods. The country recorded 15 weather events costing $1 billion or more each through early ...

Bloomberg The arctic blast that’s turning the northern half of the US into a giant icebox this week has been good news for oil and coal. Plants are using the most fuel oil in three years to produce the electricity that’s powering heaters across New England. In the PJM market, which stretches from Illinois to Washington, D.C., coal has once ...

Bloomberg Oil bulls are charging ahead with unprecedented vigor, and the credit goes to OPEC. The signs that the group is winning its tug of war with shale are compelling, and money managers have taken note: Their combined bets on rising prices for West Texas Intermediate and Brent crude reached record levels in December. “At least through the first half ...

Bloomberg Justin Trudeau wants to make reviews of pipeline and other major projects run on time as Canadian producers struggle to get oil to market. The federal government will propose new rules for regulatory vetting of all major development projects in 2018, shortly after parliament reconvenes on January 29, Natural Resources Minister Jim Carr said. Trudeau instructed his ministers two ...

Bloomberg The North Sea’s Forties Pipeline System — one of the world’s most important crude oil conduits — is fully back in business after being shut earlier this month due to the discovery of a hairline crack. “Ineos confirms the Forties Pipeline System is fully operational,” operator Ineos AG said in a statement. “All restrictions on the flow of oil ...

ALGIERS / Reuters Algeria needs to exploit its shale gas resources to offset a surge in local energy consumption that is eating into vital exports, but developing the industry will take time and require far-reaching reforms at the state energy firm. The North African country is a key gas supplier to Europe, but exports have suffered from delays to several ...

DUBAI / WAM The Board of Directors of the Sheikh Zayed Housing Programme on Wednesday approved housing support for 449 eligible Emiratis with a total value AED322 million. The housing support is part of the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and Vice President and Prime Minister of the UAE and Ruler of Dubai, His ...

CASABLANCA / WAM The Abu Dhabi National Oil Company (ADNOC) and the OCP Group of Morocco (OCP) announced on Wednesday the signing of a long-term sales agreement whereby ADNOC will supply OCP with granulated Sulphur. Under the agreement, ADNOC, one of the world’s largest exporters of Sulphur, will steadily supply OCP, the largest worldwide Sulphur importer, until 2025. The two ...