August, 2018

• 29 August

  Deutsche bank CEO warns of rising pressure to consolidate

  

  Bloomberg Deutsche Bank AG Chief Executive Officer Christian Sewing has a stark message for the thousands of banks spread out across the European Union: bulk up or die. “The pressure to consolidate will rise significantly in Europe,” Sewing said. An increase in regulatory requirements, in addition to an already-pressing need for investment in information technology will “overwhelm” many banks, he …

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• 28 August

  Oil hits 2-week high as US, Mexico near trade deal

  

  Bloomberg Oil traded near the highest closing level in more than two weeks on estimates that US crude inventories fell and as the prospect of a new US-Mexico trade pact spurred wider financial-market optimism. Futures held near $69 a barrel in New York as President Donald Trump said the US is pursuing a new trade accord with Mexico to replace …

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• 28 August

  UAE, Chile discuss ways to bolster energy sector ties

  SANTIAGO / WAM Abdul Razzaq Mohamed Hadi, UAE Ambassador to Chile, met with Susana Jimenez, Minister of Energy of Chile, and Francisco Chahuan, member of the Chilean Senate and Chairman of the UAE-Chilean Parliamentary Friendship Group. During the meeting, the two sides discussed ways to enhance cooperation and mutual investment with Chile in the renewable energy sector and the possibility …

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• 28 August

  China gets new shot at Mideast energy with Total’s Iran exit

  

  Bloomberg Total SA’s withdrawal from Iran’s giant South Pars gas field has given China another chance to secure a stake in the world’s most coveted energy assets: abundant and low-cost Middle Eastern oil and gas. Chinese companies have invested in Iraq, the United Arab Emirates and Iran in recent years, and have expressed interest in oil and gas projects in …

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• 28 August

  Jatropha seeds oil helps fly SpiceJet first bio fuel flight

  

  Bloomberg SpiceJet Ltd. completed its maiden flight using a blend of aviation fuel and oil from jatropha seeds, furthering Prime Minister Narendra Modi’s push for greater use of alternative resources to cut India’s dependence on oil imports. A Bombardier Q400 aircraft made the one-way trip to New Delhi from the city of Dehradun, about 200 kilometres from the capital. The …

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• 28 August

  Italy’s Snam signs gas pact with China’s state grid

  

  Bloomberg Italy’s gas pipeline operator Snam SpA signed a memorandum of understanding with China’s State Grid International Development as part of Finance Minister Giovanni Tria’s trip to the Asian country. Snam and State Grid International, a unit of the biggest Chinese power distributor, agreed to examine a range of opportunities in China and elsewhere, with a focus on the use …

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• 28 August

  India’s gas operator eases pipeline access

  Bloomberg India’s largest natural gas pipeline operator has invited users to book surplus network capacity online as the country prepares to create a distribution hub that sets benchmark prices. State-run GAIL India Ltd., which controls 70 percent of the nation’s network, launched a website for online bookings of pipeline capacity to ship gas across the country. GAIL, with 11,400 kilometres …

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• 28 August

  TransCanada’s shale gas pipe cost rises by $1bn

  Bloomberg TransCanada Corp. won a 49 percent price increase for space on the pipeline it’s building to haul shale gas from Appalachian fields as labor shortages and escalating land prices pushed construction costs almost $1 billion higher. US regulators approved the Calgary-based company’s request to charge gas explorers $14.663 per dekatherm for space on its Mountaineer XPress Project, 275-kilometre in …

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• 28 August

  US stocks trade near all-time highs, Treasury yields climb

  

  Bloomberg US stocks churned near all-time highs, while Treasury yields climbed as investors assessed the latest developments from the Trump administration’s trade policies. The S&P 500 clung to a record after opening above 2,900 for the first time. Rate-sensitive shares retreated as the 10-year Treasury yield moved towards 2.90 percent. The Mexican peso failed to hold onto Monday’s gains as …

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• 28 August

  Nafta-exposed European stocks taste sweeter

  

  Bloomberg Sweetener-maker Tate & Lyle Plc, a UK household name due to its former glory days of supplying Britons with sugar for their tea, rose the most in three months on Tuesday after President Donald Trump said the US is pursuing a new trade accord with Mexico to replace the North American Free Trade Agreement. The 97-year-old company’s stock has …

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