December, 2019

• 28 December

  Sudan to lift subsidies on fuel in 2020, rise wages

  

  Bloomberg The transitional government in Sudan is planning a set of economic and political reforms, including removing fuel subsidies gradually in 2020, Reuters reported, citing Finance Minster Ibrahim Elbadawi. The subsidies for wheat and cooking gas would be retained to help the poor, he told reporters, Reuters said. Subsidies are a major burden on the government’s finances, which have been …

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• 28 December

  Oil posts longest run of weekly gains since April on crude draw

  

  Bloomberg Oil posted the longest run of weekly gains since April as prices followed equities higher and a government report showed US crude inventories falling to the lowest in two months. Futures in New York were little changed, clinging to a three-month high. The Energy Information Administration reported that oil inventories fell 5.47 million barrels while supplies at the key …

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• 28 December

  Iraq shuts oil field over protestors safety worries

  

  Bloomberg Iraq, Opec’s second-biggest producer, halted output from a southern oil field as protesters walked close to installations. Other southern fields will make up the amount from the shutdown, which won’t affect the country’s output. The halt is temporary until the Nasiriya field, which produces 80,000 to 85,000 barrels a day, is clear of protesters. The closure was a precautionary …

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• 28 December

  CEO of top US power market under fire before he starts

  Bloomberg The incoming head of the largest US power market is under pressure even before he begins his new job. A consumer watchdog has accused Manu Asthana — who starts as chief executive officer of PJM Interconnection LLC on January 1 — of mismanagement at his previous company. That risks casting a shadow over his new role, in which he …

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• 28 December

  Nigeria LNG is planning to boost output by 35%

  Bloomberg Nigeria LNG Ltd decided to proceed with the construction of the country’s seventh liquefied natural gas production train, which will boost the company’s output by 35%. Train 7 will increase the company’s competitiveness in the global LNG market, state-owned Nigerian National Petroleum Corp, said in a statement on its Twitter account. “We are going to put in place a …

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• 28 December

  Inside YouTube’s year of responsibility

  

  Bloomberg YouTube spent 2019 answering critics with some of the most drastic changes in its 15-year history. With each step, it gave those activists, regulators and lawmakers more reasons to attack its free-wheeling, user-generated business model. Susan Wojcicki, YouTube’s chief executive officer, announced her goals in April. “My top priority,” she wrote, “is responsibility.” Her company spent the year trying …

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• 28 December

  Sony can’t make image sensors fast enough to keep up with demand

  

  Bloomberg Sony Corp is working around the clock to manufacture its in-demand image sensors, but even a 24-hour operation hasn’t been enough. For the second straight year, the Japanese company will run its chip factories constantly through the holidays to try and keep up with demand for sensors used in mobile phone cameras, according to Terushi Shimizu, the head of …

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• 28 December

  Dish beefs up Sling TV with cable news channels, hikes price

  

  Bloomberg Dish Network Corp’s Sling TV is gearing up for a big election news cycle, with the addition of Fox News, MSNBC and CNN’s HLN to its live TV streaming service. But the change comes with a price increase, the second since its launch almost five years ago. Subscriptions to the multiscreen Blue plan will rise to $30 a month …

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• 28 December

  China to scrap benchmark rate in shift to new system

  

  Bloomberg China’s central bank ordered lenders to adopt a new loan-pricing regime for all credit from next year, marking an end to the previous benchmark and another step towards liberalising the financial system. Financial institutions should stop using the old lending rate as the pricing reference for all credit from January, while gradually converting existing loans to a new base …

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• 28 December

  IADB’s Arturo Jose Galindo joins Colombia central bank’s board

  

  Bloomberg President Ivan Duque named a University of Illinois-trained economist with policy-making experience to take a seat on the board of Colombia’s central bank. Arturo Jose Galindo was chief of the Inter-American Development Bank’s strategy development division. He previously worked as an economist at the Colombian central bank and as an adviser to the nation’s banking association. He will replace …

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