February, 2019

• 27 February

  Air France-KLM plunges most since merger on surprise Dutch stake

  

  Bloomberg Air France-KLM Group fell the most ever after the Dutch government’s surprise decision to buy a stake in the airline raised concern that competing national interests will derail Chief Executive Officer Ben Smith’s efforts to streamline the carrier. The Netherlands purchased a 13 percent holding, a move aimed at gaining parity with influential shareholder France following a power clash …

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• 26 February

  Adnoc inks three energy deals with Korean firms

  

  SEOUL / WAM During an official visit to the Republic of Korea by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the Abu Dhabi National Oil Company (Adnoc) has signed three framework agreements with Korean energy companies. The agreements will explore upstream exploration and production opportunities, …

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• 26 February

  Mubadala Petroleum signs gas project agreement in Thailand

  

  ABU DHABI / WAM Mubadala Petroleum has announced that it signed the Production Sharing Contract (PSC) together with its partner PTTEP Energy Development Company Limited (PTTEP ED), a subsidiary of PTT Exploration and Production Public Company Limited, for offshore Block G1/61 containing the Erawan producing gas field in Thailand. The current Block G1/61 concession will expire in April 2022 and …

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• 26 February

  UAE-funded textile factory opens in Serbia

  BELGRADE / WAM President Aleksandar Vucic of Serbia has opened the textile factory ‘Armis Luss Protect’ textile factory in the Raska District. The factory was funded by the Khalifa bin Zayed Al Nahyan Foundation. The opening ceremony was attended by the UAE Ambassador to Serbia Mubarak Saeed Ahmed Barasheed Al Dhaheri. The Serbian President thanked the UAE and the Khalifa …

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• 26 February

  Brexit: Energy traders brace for chaos

  

  Bloomberg The possibility of Britain exiting the European Union without a deal is coming into sharper focus for power, natural gas and carbon allowance traders as futures for next month start to expire. A no-deal Brexit could rattle traders because of the complicated links that hold the EU energy market together. For example, natural gas produced in Norway can be …

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• 26 February

  Shale backlash hits China after quake in key drilling area

  Bloomberg The backlash against shale drilling in earthquake-prone regions — a thorn in the side of US energy companies for the past decade — reached China this week after a series of temblors killed two people and reduced homes to rubble. China’s biggest oil and gas producer halted drilling in an area of the country’s shale hub after three quakes …

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• 26 February

  Global stocks slide as trade optimism wanes; pound up

  

  Bloomberg Global stocks dropped on Tuesday as the rush of optimism over US-China trade talks from earlier in the week faded. The pound rallied as UK Prime Minister Theresa May promised a vote to delay Brexit if her proposed deal fails. S&P 500 Index futures slid and European stocks edged lower after US President Donald Trump raised the possibility of …

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• 26 February

  Stocks, rupee pare declines as investors weigh impact of attacks

  

  Bloomberg Indian stocks and the rupee bounced off the day’s lows as investors assessed the impact of the rising tensions between India and Pakistan against the backdrop of falling oil prices and buoyant emerging markets. The S&P BSE Sensex tumbled as much as 1.4 percent and the rupee lost 0.5 percent in reaction to an air strike on a terrorist …

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• 26 February

  Fed hints hiking bias endures as balance-sheet roll off nears end

  

  Bloomberg Federal Reserve policy makers see 2019 marking the end of their balance sheet run-off, but not necessarily their interest-rate increases. Minutes of the central bank’s January 29-30 policy meeting released showed “almost all participants” agreeing it best to halt roll-offs this year, a move that should be welcomed by investors worried the balance sheet draw-down is hurting the economy. …

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• 26 February

  Investors seeking rate clues in Brazil ‘confirmation hearing’

  

  Bloomberg Roberto Campos Neto needs no introduction in financial markets, but his thoughts on how the central bank could boost Brazil’s recovery have remained a mystery. While the money-making talents of the former Santander treasurer are well known, the Senate confirmation hearing should finally reveal what the nominee for the central bank’s presidency thinks about interest rates, inflation, and Brazil’s …

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