April, 2018

• 14 April

  Instagram to allow users download their data

  Reuters Facebook Inc’s Instagram will soon allow its users to download a copy of all the content they have uploaded on the photo-sharing platform, a spokesman said. The disclosure comes amid global concerns about the privacy of users’ information on social media platforms and the amount of user data that companies keep. While Facebook has allowed its users to download …

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• 14 April

  OPEC near ‘mission accomplished’ as global oil glut vanishes, says IEA

  

  Bloomberg OPEC is on the verge of “mission accomplished” in its quest to clear the global oil glut that caused the worst industry downturn in a generation, the International Energy Agency said. Less than 10 percent of the surplus in oil inventories remains, as OPEC and its partners have cut production by even more than they intended while world demand …

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• 14 April

  Italy’s Eni defies sceptics, plans raising stake in nuclear fusion project

  

  MILAN / Reuters Italian energy group Eni is considering stepping up its investment in nuclear fusion, potentially doubling down on a technology considered so uncertain that Eni remains the only global oil company prepared to place a bet on it. Eni and bigger rivals such as Shell and BP have been looking at moving into renewable energy as climate change, …

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• 14 April

  Iraq delays oil auction after late contract tweaks

  Bloomberg Iraq delayed an international auction of rights to 11 of its oil and natural gas deposits, pushing back the bidding date after introducing changes to the contract, according to people familiar with the matter. The oil ministry re-scheduled the auction for April 25, said one of the people, who asked not to be identified because the information isn’t public. …

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• 14 April

  China’s March crude imports 2nd highest on record

  

  BEIJING / Reuters China’s March crude oil imports climbed from a month earlier to the second highest on record, calculated on a daily basis, as refiners replenished stocks on generous government quotas and ahead of peak maintenance season. March shipments came in at 39.17 million tonnes, or 9.22 million barrels per day (bpd), the General Administration of Customs said. That …

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• 14 April

  European banks step up battle against major new regulations

  

  LONDON / Reuters Tougher rules introduced after the financial crisis have made it harder for banks to support the economy, a European banking lobby said in a study they hope will stem the flow of new regulation. Banks have been forced to hold far more capital since many of them were bailed out by taxpayers during the 2007-09 financial crisis. …

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• 14 April

  PNB: Internal probe into $2 billion fraud ongoing; more heads could roll

  

  Bloomberg India’s state-run Punjab National Bank (PNB) is conducting an internal investigation into an alleged $2 billion fraud and more heads could roll, its chief executive said in an interview. The country’s second-biggest state lender disclosed in February that companies owned by two jewellers defrauded it by raising credit from overseas branches of other Indian banks, using illegal guarantees issued …

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• 14 April

  Bank of Korea holds rates, cuts inflation outlook

  

  SEOUL / Reuters South Korea’s central bank held interest rates steady, with Governor Lee Ju-yeol taking a cautious stance in the face of high household debt, weak inflation and tightrope-tense trade relations between the United States and China. The Bank of Korea’s monetary policy committee held its base rate steady at 1.50 percent, in line with forecasts from 18 analysts …

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• 14 April

  Ireland’s central bank raises economic growth forecasts

  DUBLIN / Reuters Ireland’s central bank raised its forecast for economic growth as domestic activity strengthened and international demand improved, but it said the economy was vulnerable to post-Brexit trade restrictions and changes in European Union tax rules. Ireland’s economy has been the best performing in Europe since 2014 and the central bank sees that momentum continuing, with gross domestic …

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• 14 April

  Ukraine central bank warns it needs IMF funds

  

  KIEV / Reuters Ukraine’s central bank left its main interest rate at 17 percent, as expected, but warned that an improving outlook for inflation could be undermined if the International Monetary Fund delays in disbursing loans. Over the past six months, the bank has kept monetary policy tight to curb stubbornly high inflation linked to higher food and oil prices …

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