January, 2018

• 9 January

  US stocks add to all-time highs; 10-year yield tops 2.5 percent

  

  Bloomberg US stocks added to all-time highs before the start of earnings season, while the dollar got a boost from policy steps in Asia that propelled Treasury yields to the highest level in nine months. The S&P 500 Index rose a sixth straight advance in an unblemished start to the year, the Dow Jones Industrial average resumed its march higher …

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• 9 January

  Gulf markets move little, Egypt rises on ‘presidential election’

  

  Reuters Gulf stock markets were mostly sluggish on Tuesday as Qatar slowed after surging for two days, but Egypt’s bourse rose after authorities announced a date for presidential elections. Some of the best performers of the past two days pulled back, with Doha Bank losing 1.5 percent. But Aamal Co rose 2.4 percent after announcing plans for an affiliate which …

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• 9 January

  Mideast soaks up Europe gasoline

  

  LONDON / Reuters Gasoline exports from Europe to the Middle East have surged in recent months to record highs as traders seek to fill a gap due to particularly heavy refinery maintenance in the region in the coming months, according to shipping data and trading sources. So far this month, at least a dozen tankers have been confirmed or placed …

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• 9 January

  India proposes 70% duty on solar imports from China, Malaysia

  Bloomberg India, the largest importer of Chinese solar equipment, proposed a 70 percent safeguard duty on cells and modules shipped from China and Malaysia, citing “threat of serious injury” to the domestic industry. Acting on an application by five local cell and module makers, the Directorate General of Safeguards, Customs and Central Excise made the proposal in a document dated …

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• 9 January

  Goldman, Citi in lead for top roles in Aramco IPO

  

  Bloomberg Saudi Arabian Oil Co. is set to appoint banks including Goldman Sachs Group Inc. and Citigroup Inc. to help manage its initial public offering, people familiar with the matter said, as the state-owned crude producer pushes ahead with what could be the world’s largest share sale. JPMorgan Chase & Co., HSBC Holdings Plc and Morgan Sta- nley, which have …

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• 9 January

  Oil near $62 as American stockpiles seen declining

  Bloomberg Oil steadied near $62 a barrel on estimates that US crude stockpiles declined for an eighth week as the rebalancing of global markets continues. Futures added as much as 1.3 percent in New York to the highest intraday level in almost three years. US inventories probably fell by 3.75 million barrels last week, according to a Bloomberg survey before …

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• 9 January

  Oil cuts claim a victim as supertanker earnings tumble

  

  Bloomberg OPEC’s strategy to end a worldwide crude glut is causing havoc for a vital link in the oil industry’s supply chain: the fleet of supertankers that shuttle fuel between continents. The ships’ average earnings plunged last year by more than half to levels not seen since 2009 and far below what shipping analysts had been predicting. Now, the producer …

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• 9 January

  Libya’s NOC says wins arbitration on Ras Lanuf refinery

  TUNIS / Reuters Libya’s National Oil Corp (NOC) said it had won two international arbitration cases over the 220,000 bpd-capacity Ras Lanuf refinery, and called for the refinery to restart as soon as possible. The NOC said in a statement that the arbitration cases, which date to 2013, had been settled in its favour at the International Chamber of Commerce …

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• 9 January

  China’s central bank changes way it manages Yuan after gains

  

  Bloomberg China’s central bank has made a change to the regime used to manage the yuan, effectively removing a component used by banks to calculate their submissions to the currency’s daily reference rate, according to people familiar with the matter. The People’s Bank of China recently told some lenders that contribute to the rate — known as the fixing — …

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• 9 January

  Spanish investment bank plans London HQ despite Brexit

  Bloomberg Spain’s Alantra Partners SA is considering moving its headquarters from Madrid to London in a bet the UK capital will remain the center of European business and finance even after Brexit, according to two people with knowledge of the matter. The investment bank and money manager, which oversees 3.7 billion euros ($4.4 billion) of assets and employs about 350 …

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