July, 2018

• 17 July

  BlackRock sees outflows from equity products

  

  Bloomberg BlackRock Inc. saw outflows from equity products in the second quarter and slower inflows into its exchange-traded funds as investors reacted to market uncertainty. Clients pulled $22.4 billion from BlackRock’s equity products in the period, according to a statement. Inflows into its iShares products totaled $17.8 billion, the lowest since the second quarter of 2016. BlackRock is the world’s …

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• 17 July

  BOE gets vital economic healthcheck before August meet

  

  Bloomberg Bank of England (BOE) policy makers are getting a crucial glimpse of the health of the UK economy before their crunch August meeting. A deluge of numbers on wages, inflation, retail sales and public borrowing are coming over the next five days. While a similar run of reports prompted the bank to back away from an interest-rate increase in …

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• 16 July

  Abu Dhabi, China non-oil trade hits AED13.2bn

  

  ABU DHABI / WAM The value of non-oil trade between Abu Dhabi and China, in 2017, reached AED13.2 billion, constituting around 8.2 percent of the emirate’s registered trade that totalled AED160 billion during the same year, according to statistics from the Statistics Centre-Abu Dhabi (SCAD). Statistics on Abu Dhabi’s non-oil trade also show that China is among the top five …

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• 16 July

  Stocks drift amid earnings; bonds and dollar decline

  

  Bloomberg US equities drifted between gains and losses and European stocks were mixed as traders looked towards company results after lackluster economic data out of China spurred declines for many Asian shares. The dollar weakened against most peers. Earnings were better-than-expected from the likes of Bank of America Corp. and BlackRock Inc. while there was an upbeat early release from …

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• 16 July

  Pound gains as traders await Brexit progress

  

  Bloomberg The pound picked up on Monday against a weaker dollar, with further gains seen dependent on the progress of the UK’s Brexit plans and whether data will cement the odds of a Bank of England interest-rate increase. Sterling’s moves could be influenced by any response from UK lawmakers or the European Union to the British prime minister’s “white paper” …

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• 16 July

  Russia: OPEC, allies could boost oil supply more than pledged

  

  Bloomberg OPEC and its allies could boost oil production by more than the 1 million barrels a day agreed last month if needed, Russia’s Energy Minister Alexander Novak said. “I can’t rule out that if there is a need for more than 1 million barrels we will be able to quickly discuss it all together and make all necessary decisions,” …

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• 16 July

  Uganda sees $70mn initial spending on oil storage facility

  

  Bloomberg Uganda, which plans to produce and refine its own oil, said it will require as much as $70 million to construct a storage facility for refined products on the outskirts of the capital, Kampala. The East African country will initially build storage with capacity for 60,000 cubic meters that it may upgrade to 138,000 cubic meters if there’s demand, …

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• 16 July

  Iraq says oil safe as social media cut amid protests

  Bloomberg Iraq is pumping oil at normal levels even as protests spread across the southern region from where OPEC’s second-biggest producer exports most of its crude, according to a government spokesman. “Production and exports from southern Iraq are stable as per normal levels,” Oil Ministry spokesman Asim Jihad said by phone. Authorities have deployed security forces to protect energy fields …

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• 16 July

  Boralex, Invenergy hit by Ontario’s move to kill clean-power projects

  

  Bloomberg Renewable-power contracts fr-om Boralex Inc and Invenergy LLC are among those targeted for cancellation by Ontario Premier Doug Ford, who’s working to terminate or wind down more than 750 contracts in a revamp of the province’s energy policies. The list of contracts in Ford’s crosshairs includes one with the 50-megawatt Otter Creek Wind Farm in western Ontario, which is …

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• 16 July

  UK house prices fall for first time in seven months

  

  Bloomberg UK house prices fell for the first time in seven months as sellers adapted to the reality of the weaker market. Asking prices slipped 0.1 percent in July from a month earlier, property website Rightmove said on Monday. In London, prices slipped 0.5 percent, with smaller apartments falling faster than bigger homes. The reduction in asking prices can “be …

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