February, 2018

• 10 February

  Delhi, Mumbai airport fliers surge as travel growth takes off

  Bloomberg Asia, home to some of the world’s fastest growing economies, is seeing some of the biggest passenger growth rates in its airports. India in particular. Among those handling more than 40 million passengers annually, New Delhi took the lead with the number of travelers rising 21 percent in 2016, according to the latest available data from Airports Council International. …

  Read More »
• 10 February

  Tesco faces equal-pay case that seeks up to $5.6 billion

  

  Bloomberg As the UK forces companies to disclose the gap between men’s and women’s pay, the country’s biggest private employer is confronted with a massive demand from workers feeling short-changed. Supermarket chain Tesco Plc has been presented with claims that law firm Leigh Day says could eventually total as much as 4 billion pounds ($5.6 billion). The firm contends that …

  Read More »
• 6 February

  US stocks fluctuate after Dow swung 500 points in 25 minutes

  

  Bloomberg US equity indexes fluctuated after a tumultuous morning that saw the Dow swing more than 900 points in 25 minutes. The benchmark gauge for US share volatility went through wild gyrations after hitting a two-year high. The S&P 500 Index plunged as much as 2.1 percent at the open of trading on Tuesday before regaining ground. The Dow declined …

  Read More »
• 6 February

  Mideast pulled down by global tumble, but outperforms Asia

  

  Reuters Middle Eastern stock markets fell on Tuesday because of the global downturn in equities, but the region outperformed emerging markets in Asia, where MSCI’s broadest index of Asia-Pacific shares ex-Japan plunged 3.6 percent. Because of low oil prices and poor liquidity, the Gulf greatly underperformed the uptrend in global emerging markets in 2017, so fund managers say it may …

  Read More »
• 6 February

  BP dodges oil-industry gloom as profit jumps with production

  

  Bloomberg BP Plc dodged the disappointment that afflicted other oil-company earnings as it did a better job of exploiting the upswing in crude prices. Oil and gas output rose following the startup of seven new projects last year, helping the London-based giant post a fivefold increase in fourth-quarter profit from a year earlier to the highest since the start of …

  Read More »
• 6 February

  Angola oil minister sees no further OPEC cuts

  

  CAPE TOWN / Reuters Angola sees no further OPEC cuts in 2018 and Africa’s No. 2 crude exporter hopes to join the ranks of gold producers next year as it strives to diversify an economy long based on oil and diamonds, its minerals and petroleum minister said on Tuesday. Angola, where oil wealth has failed to translate into wider prosperity, …

  Read More »
• 6 February

  Saudi’s $32bn bid to build private mortgage market

  Bloomberg Saudi Arabia plans to spend 120 billion riyals ($32 billion) on subsidised home loans for borrowers, as it seeks to create conditions for an expanded private-sector role in a mortgage market dominated by the government. The kingdom’s new housing program, announced, also includes an 18 billion riyal loan-guarantee program to boost access to funding, and 12.5 billion riyals to …

  Read More »
• 6 February

  Halliburton takes fracking fight to patent office

  

  Bloomberg Halliburton Co. isn’t content to limit its battle for market share with Schlumberger Ltd. to the oil field these days. It’s opened a new front in an unlikely place: the patent office. The Houston-based provider of drilling services is waging an aggressive campaign to persuade the US Patent and Trademark Office to cancel some of Schlumberger’s fracking-related patents, telling …

  Read More »
• 6 February

  Oil declines to two-week low

  Bloomberg Oil slid to a two-week low and headed for its longest losing streak in two months as a plunge in US equities dragged other markets lower. Crude futures in New York fell a third day, sliding as much as 1.3 percent. Stock indexes from Japan to Germany tumbled on Tuesday after a frantic sell-off in US shares sent the …

  Read More »
• 6 February

  $30bn hit looms for Indian banks on new rule

  

  Bloomberg India’s lenders, already struggling with $210 billion of stressed assets, may have to prepare for another hit as early as the coming financial year if new accounting norms kick in as planned on April 1. The IndAS — based on the IFRS9 standards created in the aftermath of the financial crisis — would require banks to make provisions for …

  Read More »