June, 2018

• 6 June

  Aramco raises Asia oil pricing to 4-year high

  

  Bloomberg Saudi Arabia, the world’s largest oil exporter, raised pricing on key crude grades for buyers in Asia to the highest since 2014 as demand builds in the country’s biggest market amid threats to rival suppliers. State-owned Saudi Arabian Oil Co. raised its official selling price for Arab Light crude for July shipment to Asia by 20 cents to $2.10 …

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• 6 June

  Chinese blockchain firm Tai Cloud enters UAE

  DUBAI / Emirates Business Beijing Tai Cloud Technology, the first blockchain company in China’s new OTC market, has announced the launch of its UAE operations aimed to leverage opportunities of trading in blockchain technology. Tai Cloud is a pioneer in the research and application development of the blockchain technology system in the People’s Republic of China. The company established the …

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• 6 June

  Global growth poised to slow over next two years, says World Bank

  

  Bloomberg Global growth is set to slow over the next two years as central banks raise borrowing rates and US fiscal stimulus starts to fade, the World Bank said. The world economy will grow 3.1 percent this year and 3 percent in 2019, the development lender said in its latest Global Economic Prospects report. Both forecasts were unchanged from January, …

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• 6 June

  BHP receives bids valuing shale unit up to $9 billion

  

  Bloomberg BHP Billiton Ltd. has received first-round bids for its US shale portfolio from oil majors including BP Plc and Chevron Corp., valuing the unit at $7 billion to $9 billion, people familiar with the matter said. Royal Dutch Shell Plc, partnering with private equity firm Blackstone Group LP, also submitted a bid for the entire unit late in May, …

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• 6 June

  US biofuel policy revamp on the verge of collapse

  

  Bloomberg A tentative deal to revamp US biofuel policy appeared to collapse when the White House indefinitely delayed an expected announcement of the planned changes, according to three people familiar with the move. The postponement of a directive outlining the deal may mark the end of the latest effort to overhaul the American renewable fuel mandate with an eye on …

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• 6 June

  India sees record low solar prices returning

  Bloomberg India may be the biggest beneficiary of solar industry reforms in China that are poised to reduce prices for photovoltaic panels. China announced last week it was halting approvals of some new solar projects this year and cutting subsidies to developers to ease its pace of expansion. That’s expected to slow demand in the world’s biggest market, weakening prices, …

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• 6 June

  Repsol shows faith in oil’s rally with dividend, spending boost

  

  Bloomberg Repsol SA, Spain’s largest oil producer, plans to raise dividends and investments over the next two years on a bet that crude will remain above $50 a barrel. The scrip dividend — a payout to shareholders in stock — will climb to 1 euro in 2020 from a planned 90 euro cents this year, according to a strategy update …

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• 6 June

  Trade hopes sustain risk-on mood; ECB sinks bonds

  

  Bloomberg Trade hopes and the end of easy money were the twin themes in trading on Wednesday, with stocks extending gains and bonds falling as this week’s risk-on mood endured. US equity futures climbed following advances across Asia on signs that major economies will step back from the brink of a trade war. More than half of companies in the …

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• 6 June

  Oil near $65 as OPEC fears weigh against US stockpile drop

  

  Bloomberg Oil traded near $65 a barrel as an industry report showing a drop in American crude stockpiles countered fears about a potential OPEC supply boost. Futures in New York fell 0.7 percent, following a 1.2 percent advance on Tuesday. The American Petroleum Institute was said to report nationwide crude inventories declined by over 2 million barrels last week. Meanwhile, …

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• 6 June

  India joins emerging markets in pulling interest rate trigger

  

  Bloomberg India’s central bank raised its benchmark interest rate for the first time since 2014 to curb rising price pressures and calm financial markets as policy tightening in the US rattles emerging markets. All six members of the Monetary Policy Committee voted to increase the repurchase rate to 6.25 percent from 6 percent, the Reserve Bank of India said in …

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