SINGAPORE / Reuters Indian refiners are outperforming their competitors in South Korea and Thailand as they have ramped up output from new fuel and chemical capacities to meet rising domestic demand that could further lift their earnings over the next two years. Asia is adding net refining capacity of 360,000 barrels per day (bpd) this year, according to Wood Mackenzie, ...

Bloomberg Cheniere Energy Inc., the only company sending America’s shale gas overseas, has begun liquefying the fuel at a fourth plant, keeping the company on a track that will double its export capacity this year. The plant at Cheniere’s Sabine Pass complex in Louisiana is chilling and condensing gas into a liquid so it can be loaded onto tankers, a ...

Bloomberg Global stocks advanced following the latest set of corporate results, with European shares tracking a jump in Asian peers on both earnings and promising economic data. The US dollar stayed higher as consumer spending figures matched forecasts. The Stoxx Europe 600 Index was once again poised to end its losing streak, heading for the first gain in four days ...

DUBAI / Reuters Saudi Arabian shares snapped a six-session losing streak on Tuesday while Qatar’s market fell, hit by a slump in an oil drilling service provider after it barely broke even in the second quarter. Gulf International Services lost 8.0 percent after posting net profit of 700,000 Qatari riyals, according to Reuters’ calculations, well below QNB Financial Services’ estimate ...

Bloomberg Banks may need to find $30 billion to $50 billion of additional capital to support new European units in the aftermath of a hard Brexit, and some smaller firms may abandon their operations on the continent altogether as profitability plunges, according to Oliver Wyman Inc. The extra money is equivalent to 15 percent to 30 percent of the capital ...

Bloomberg Turkey’s central bank raised its inflation forecast for this year on higher food prices, and reiterated its policy not to loosen monetary conditions until the outlook improves. The bank revised its prediction for year-end inflation to 8.7 percent from 8.5 percent and maintained its forecast for 2018 at 6.4 percent, according to its quarterly inflation report. Food prices, which ...

Bloomberg Australia’s central bank kept interest rates unchanged and warned a rising currency is expected to subdue inflation and weigh on the outlook for growth and employment. The Australian dollar has surged more than 11 percent this year, hampering the Reserve Bank’s efforts to transition the economy to growth led by exports like education and tourism. That prompted Governor Philip ...

Bloomberg Mergers and acquisitions may be headed for a slowdown amid high valuations and an uncertain outlook around monetary policy, says William Vereker at UBS Group AG. “I look at record-high valuations across many exchanges, I look at a very liquid backdrop with the ongoing easing of monetary policy, you’ve got an uncertain outlook on interest rates,” said Vereker, global ...

Bloomberg The reshuffle at the top of two of China’s largest state-controlled banks is the latest phase of a management change for the country’s $40 trillion financial industry, as the government seeks to restrain any turbulence ahead of a twice-a-decade meeting of the ruling Communist Party. Tian Guoli, formerly chairman of Bank of China Ltd., has been named as the ...

Bloomberg Venezuela’s government, striving to legitimize President Nicolas Maduro’s grab for control, said that more than 8 million people participated in a vote to rewrite the constitution even though polling places and streets were mostly empty and quiet. The constituent assembly chosen on Sunday will meet as soon as this week to discuss changing the charter rewritten under former socialist ...