March, 2018

• 17 March

  Nordea gets shareholder nod for Finland HQ

  Bloomberg Nordea Bank AB won enough support from its shareholders for its proposed move to Helsinki from Stockholm, paving the way for the Nordic region’s largest bank to join Europe’s banking union. More than 95% of the shareholders present or represented at the bank’s annual general meeting in Stockholm voted in support of the proposed relocation, surpassing the two thirds …

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• 17 March

  UK’s biggest banks face higher capital hurdles

  

  Bloomberg The UK’s largest lenders face tougher capital demands in this year’s stress test, as the Bank of England steps up efforts to avert a repeat of the financial crisis. Banks will be held to a single capital standard that includes their minimum capital requirements as well as any buffers they must have to account for their importance to the …

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• 14 March

  Physicist Stephen Hawking dies at 76

  Bloomberg Stephen Hawking, the British physicist and black-hole theorist who brought science to a mass audience with the best-selling book ‘A Brief History of Time,’ has died. He was 76. Hawking died peacefully at his home in Cambridge in England in the early hours of Wednesday morning, a spokesman for his family said in an emailed statement. “We are deeply …

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• 14 March

  US stocks turn lower, dollar steady on weak retail report

  

  Bloomberg US stocks sank as weak retail sales fanned concern that consumer spending is cooling, while the dollar held steady on bets the Federal Reserve won’t be forced to quicken the pace of rate hikes. Ten-year Treasury yields tightened. The drop in retail spending provided a second data point, after Tuesday’s tepid inflation figures, to suggest unsteady growth in the …

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• 14 March

  Mideast stock markets mostly soft, Saudi surges

  

  Reuters Most Middle Eastern stock markets were soft on Wednesday with Qatar pulling back after two days of strong gains, but a few individual stocks in Saudi Arabia rose sharply in response to positive news. Islamic insurer Al Khaleej Takaful tumbled 9.1 percent after saying on Tuesday that it would distribute no dividend for 2017, after the central bank asked …

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• 14 March

  Indonesian Bitcoin investors to outnumber stock participants

  Bloomberg The biggest Indonesian platform to buy and sell digital currency may soon have more members than the nation’s century-old stock exchange. Indonesia Digital Asset Exchange, formerly known as Bitcoin.co.id, will have 1.5 million members buying and selling digital currencies such as bitcoin, ethereum and ripple by the end of the year, according to Chief Executive Officer Oscar Darmawan. The …

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• 14 March

  S Korea fuel oil imports soar as coal, nuclear plants shut

  

  Seoul / Reuters South Korea’s move to shut coal-fired generators to control air pollution at the same time as nuclear reactors are going into scheduled maintenance is resulting in surging fuel oil imports, as utilities burn the dirty feedstock to meet power demand. South Korea’s trade ministry said in February it would suspend five coal-fired power plants, with a combined …

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• 14 March

  Shell risks losing gas race as rival targets shared resource

  

  Bloomberg After a decade planning the world’s largest floating gas export plant, Royal Dutch Shell Plc’s supplies could get tapped by a competitor first. Shell and Japan’s Inpex Corp. are both targeting gas from a connected reservoir in Australia’s remote Browse Basin, about 200 kilometers (125 miles) off its northwest coast, according to consultant Wood Mackenzie Ltd. Meeting its planned …

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• 14 March

  Saudi Arabia to keep its April crude oil exports under 7mn bpd

  

  Reuters Saudi Arabia plans to keep its crude oil production in April below 10 million barrels per day (bpd), and maintain exports under 7 million bpd, the energy ministry said on Wednesday, as the top OPEC producer wants to end a global supply glut and boost prices. Saudi Arabia has been pumping below its OPEC target since January and reducing …

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• 14 March

  Libya’s Zawiya port loadings resume after strike ends

  TRIPOLI / Reuters Libya’s Zawiya oil terminal returned to normal operations after workers who were blocking ships from docking agreed to end a one-day strike, two sources said. Zawiya exports crude from Libya’s giant El Sharara oilfield, which produces 300,000 barrels per day (bpd), more than a quarter of the North African country’s output. Production at El Sharara had not …

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