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July 23, 2016 Regional News
REUTERS Algeria’s Tiguentourine gas plant is ready to come fully back online for the first time since a deadly militant attack in 2013, General Manager Kamel Aoues said on Saturday. “Full production is for the coming days, all tests have been passed successfully,” Aoues told Reuters during a press visit to the site. The plant, 1,600 km (995 miles) ...
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July 23, 2016 Regional News
REUTERS Saudi Kayan Petrochemical Co. swung to a net profit in the second quarter, ending a run of five straight quarterly losses, benefiting from low feedstock costs. The company, an affiliate of Saudi Basic Industries Corp (SABIC), made a net profit of 91.02 million riyals ($24.27 million) in the three months to June 30, it said in a bourse ...
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July 23, 2016 Regional News
REUTERS Saudi Arabia Fertilizers Co (SAFCO) met analyst forecasts but extended its earnings slump, as its second-quarter net profit halved year on year as product prices remained low. SAFCO, a unit of Saudi Basic Industries Corp, made a net profit of 299 million riyals ($79.7 million) in the three months to June 30, compared with the 596 million riyals it ...
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July 23, 2016 International News, Uncategorized
AFP The world’s leading economies must do more to boost slowing global growth, the International Monetary Fund and Washington urged as G20 finance ministers gathered Saturday, with Britain’s vote to leave the European Union threatening more disruption. Central bank chiefs and finance ministers from the world’s top 20 economies met in the southwestern Chinese city of Chengdu, and US ...
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July 23, 2016 International News
Bloomberg Terra Firma Capital Partners named Andrew Geczy, the former head of international and institutional banking at Australia & New Zealand Banking Group Ltd, as its new chief executive officer. Geczy will join the UK buyout firm full-time in September, the company said in a statement Thursday. He takes over the role at the UK buyout firm from Tim ...
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July 23, 2016 International News
Bloomberg India has invited its first-ever bids for solar energy projects that include storage as a requirement as part of a trial program aimed at making the renewable resource a more reliable source of power. Solar Energy Corp of India, the implementing agency for clean-energy projects, sought bids for 300 megawatts of solar power to be built in the ...
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July 23, 2016 International News
Bloomberg Two of National Australia Bank Ltd’s top managers will leave the firm as the lender overhauls its leadership team and business structure, after exiting underperforming units. Gavin Slater, who has been on the lender’s executive committee since 2009 and led the personal banking unit for more than three years, will depart along with Renee Roberts, who oversaw enterprise ...
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July 23, 2016 International News
Bloomberg Discovery Ltd, South Africa’s third-largest insurer by market value, said it has set up a partnership with Japan’s Sumitomo Life Insurance Co and SoftBank Group Corp to develop and introduce products for the world’s third-largest economy. Discovery’s Vitality program, which rewards members for exercising and eating healthy, will be introduced through Sumitomo and use SoftBank’s technological and digital ...
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July 23, 2016 International News
Bloomberg India’s market regulator is forecasting initial public offerings to reach a record in the year ending March, as improved corporate governance standards and an equities rally attracts investors. Twenty one first-time sales raised 49.4 billion rupees (US$735 million) in the quarter ended June, more than in any comparable period since 2010, data compiled. Eighteen offerings seeking 61 billion ...
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July 23, 2016 International News, Uncategorized
Bloomberg U.S. stocks rose, sending the S&P 500 Index to a record, and the dollar strengthened as speculation mounted that central banks from Japan to Europe won’t be in a rush to add to unprecedented stimulus. Emerging-market assets and commodities retreated. The S&P 500 capped a fourth weekly gain as a preponderance of earnings reports topped estimates. Verizon Communications ...
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