January, 2018

• 15 January

  Hong Kong stocks end record winning run

  

  Bloomberg A record winning run in Hong Kong stocks came to an end on Monday as investors took profit in some of the best performers. The city’s benchmark Hang Seng Index slipped 0.2 percent at the close, snapping a 14-session rising streak. The gauge earlier rose above its record closing high made in 2007 before giving up gains. Country Garden …

  Read More »
• 15 January

  Oil trades near 3-year high as OPEC reassures on cuts

  

  Bloomberg Oil traded near the highest close in more than three years as Iraq echoed a call by the United Arab Emirates and other producers that the OPEC-led output cuts should continue, despite recent price gains. Futures were little changed in New York after rising 4.7 percent last week. The curbs have contributed to stability in the market and should …

  Read More »
• 15 January

  Saudi Electricity signs deal with Japanese firms for first EV pilot

  KHOBAR / Reuters State-controlled Saudi Electricity Co (SEC) has signed a deal with Japanese Tokyo Electric Power Co (TEPCO), Nissan Motor Co and Takaoka Toko for the first electric vehicle (EV) pilot project in the world’s largest oil exporter, it said. Saudi Arabia is keen to develop its auto industry as part of efforts to diversify the economy beyond oil …

  Read More »
• 15 January

  Saudi aims to soon prequalify firms for N-plant

  

  ABU DHABI / Reuters Saudi Arabia plans to prequalify for bidding firms from two or three countries by April or May for the first nuclear reactors it wants to build, a consultant for the government body work-ing on the nuclear plans said on Monday. Saudi Arabia, the world’s top oil exporter, wants nuclear power to diversify its energy supply mix, …

  Read More »
• 15 January

  Aussie solar shines as bills trigger clean energy shift

  

  Bloomberg Australia, one of the world’s biggest users of rooftop solar panels, likely added the most new capacity on record last year as electricity users sought to ease escalating power bills. A preliminary estimate by Australia’s Clean Energy Regulator of 1.05 gigawatts installed last year would be a record for the country, the government body said in an emailed statement. …

  Read More »
• 15 January

  World’s best breezes lead to cheapest wind power in Brazil

  

  Bloomberg In northeast Brazil, beyond the resorts and pristine beaches, lie some of the world’s best winds for generating electricity. Welcome to Serra Branca. It’s a wind generator’s heaven, featuring breezes so perfect for spinning turbines that this Brazilian region is capable of churning out more wind energy than any other part of the world. In the latest testament to …

  Read More »
• 15 January

  China vows to toughen rules on $38 trillion banking industry

  

  Bloomberg China’s banking regulator pledged to continue its crackdown on malpractice in the $38 trillion industry in 2018, vowing to tackle everything from poor corporate governance and violation of lending policies to cross-holdings of risky financial products. The China Banking Regulatory Commission unveiled its regulatory priorities for the year in a statement. They include: Inspecting the funding source of banks’ …

  Read More »
• 15 January

  Brookings urges India to ease regulations for new bank permits

  

  Bloomberg India should make it easier for new banks to open in the South Asian nation, according to a new report from the Brookings Institution. The Reserve Bank of India could consider easing rules for allocation of permits, including an initial capital requirement of 5 billion rupees ($79 million) and so-called priority sector lending targets, which include loans to farmers …

  Read More »
• 15 January

  JPMorgan bearish on pound despite Brexit breakthroughs

  Bloomberg The pound has hit the highest level since the Brexit vote in 2016, yet JPMorgan Chase & Co. remains relatively glum on its prospects. While recent Brexit developments have been constructive, the bank sees sterling failing to maintain its strength amid flagging economic fundamentals and a “non-negligible risk” that Brexit talks collapse. It sees the pound falling to $1.30 …

  Read More »
• 15 January

  Bundesbank to include yuan in currency reserves

  

  Bloomberg Germany’s central bank has decided to include the Chinese yuan in its own reserves, in a further boost to the international status of the currency. Speaking at an event in Hong Kong on Monday, Bundesbank board member Andreas Dombret said the decision was taken last year following an investment of 500 million euros ($611 million) by the European Central …

  Read More »