February, 2018

• 19 February

  European stocks falter after Asia rally; oil rises, dollar advances

  

  Bloomberg European shares failed to carry forward a rally from Japan and the US, where the S&P 500 index notched its best week in five years. Oil climbed while the dollar advanced against most major peers. The Stoxx Europe 600 index slipped as auto and consumer stocks dropped. That contrasted with Asia, where equities built on their best week since …

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• 19 February

  Gulf sluggish as Waha cuts dividend; big bank boosts Egypt

  

  Reuters Gulf stock markets were sluggish on Monday, with a dividend cut pulling down major Abu Dhabi-listed financial firm Waha Capital, but Egypt’s bourse rose on the back of a gain by its biggest bank. Equities in the Gulf rallied along with oil late last year and Saudi Arabia saw its largest-ever inflow of equity funds last month. But Brent …

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• 19 February

  US oil exports go up a gear as supertanker sets sail for China

  

  Bloomberg The flood of US oil exports stepped up a gear on Monday after the first fully laden supertanker sailed from an American port, alleviating a bottleneck that’s limited overseas shipments. The Louisiana Offshore Oil Port, or LOOP, the only deep water port in the US able to handle the industry’s biggest tankers, said in a statement it had successfully …

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• 19 February

  Indonesia keen to lure European, US oil giants for massive investment

  

  Bloomberg Indonesia will hold roadshows in the US and Europe later this month to lure investments from the world’s top energy companies as the former OPEC member seeks to reverse a decline in oil and gas production. The Energy and Mineral Resources Ministry is seeking bids for 24 oil and gas blocks, 1 coal-bed methane block and 1 shale block, …

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• 19 February

  Australian renewable giant Snowy Hydro mulls raising $1.6bn

  

  Bloomberg Snowy Hydro Ltd., Australia’s largest hydropower producer, is considering raising as much as A$2 billion ($1.6 billion) by the end of 2018 for a project expansion, which will boost its 4,100 megawatt capacity by as much as 50 percent. The company, jointly owned by the federal government and the Victorian and New South Wales state governments, has begun talks …

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• 19 February

  Oil finds relief in weaker dollar as equities recover

  Bloomberg Oil shook off some of the fears that had rattled the market to extend gains above $62 a barrel as the dollar weakened and global equities rebounded from a rout. Futures rose as much as 1.4 percent in New York after advancing 4.2 percent last week, propped up by a relief rally that helped US equities to their best …

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• 19 February

  Singapore property stocks show ‘fatigue’

  Bloomberg A spate of enbloc sales, coupled with a rebound in the property market at the start of the year, may indicate that Singapore developers will be more cautious in adding to landbanks and about their pricing strategies, analysts say. Collective apartment sales in the first two months of 2018 totaled over $2.4 billion, almost twice the S$1.66 billion seen …

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• 19 February

  Jets set for new home in Mumbai airport after two-decade wait

  

  Bloomberg Mumbai finally started work on a new airport more than two decades after first proposing it, as jets ran out of space to operate in one of the busiest aerodromes using a single runway. Prime Minister Narendra Modi laid the foundation stone of Navi Mumbai International Airport on February 18, to be built on about 2,866 acres of land …

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• 19 February

  VTB buys 29% Magnit stake as founder quits

  

  Bloomberg State-controlled VTB Group is buying 29 percent of Magnit PJSC from billionaire Sergey Galitskiy, who said investors don’t trust his vision for Russia’s second-largest food retailer after its share price plunged in the past year. Galitskiy will quit as chief executive officer after selling $2.5 billion of shares to VTB, Magnit said in a regulatory filing. Galitskiy said he …

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• 19 February

  Trump wants sales tax on e-commerce

  

  Bloomberg President Donald Trump “feels strongly” that the US should permit collection of state and local sales taxes on purchases made over the internet, Treasury Secretary Steven Mnuchin said. Mnuchin, speaking at a hearing before the House Ways and Means Committee, said he has spoken with Trump about the issue, and that the president “does feel strongly” that state and …

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