September, 2019

• 25 September

  Ships set to burn raw crude oil to beat new clean fuel rules

  

  Bloomberg For almost three years, the oil industry has been puzzling over how to supply merchant ships with fuel that will meet tough new environmental standards. Turns out part of the solution was sitting in the ground and under ocean floors all the while: crude oil. Oil from off the UK’s coast, which requires blending — but no refining — ...

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• 25 September

  Australia and Japan to collaborate on carbon recycling technology

  

  Bloomberg Australia and Japan signed a cooperation agreement to explore ways to develop carbon recycling technologies, Australia’s Resources Minister Matt Canavan said Wednesday. The nations will facilitate cooperation on research into ways to use carbon dioxide as a key ingredient in manufacturing products such as carbon fiber or for use in construction and agriculture. “Successfully using carbon dioxide as a ...

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• 25 September

  Nigeria’s battle over $9.6 billion gas lawsuit spreading to Ireland

  

  Bloomberg Nigerian prosecutors are seeking information about funds sent to a government lawyer that were sent through Allied Irish Banks Plc, broadening an international legal dispute between the African country and a company claiming $9.6 billion for a failed contract. Nigeria is embroiled in a fight with Process & Industrial Developments over a failed 2010 deal to develop a gas ...

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• 25 September

  Indonesian driller to triple output

  Bloomberg Oil’s dominance as a energy source may be on the wane, but one Indonesian producer is confident there’s still plenty of opportunities to be had as the age of the hydrocarbon enters its final act. PT Medco Energi Internasional is aiming to lift its oil and gas output from 120,000 barrels of oil equivalent a day to 300,000 in ...

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• 25 September

  Santander to take $1.7 billion charge on troubled UK unit

  

  Bloomberg Banco Santander SA will take a 1.5 billion-euro ($1.7 billion) charge over its UK business, which has struggled to boost profit amid stricter regulations and a competitive mortgage market. The impairment will be included in third-quarter results, the Spanish lender said. It won’t affect the bank’s cash flow or tier 1 capital ratio, a key measure of financial strength. ...

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• 25 September

  Ghana pension funds safe from ‘managers’

  

  Bloomberg Ghana’s pension funds are safe from the crisis engulfing money managers caught in the aftermath of a banking-industry cleanup. “The only way some may have been affected is if they made fixed-term investments with some of the banks that were shut down,” Hayford Attah Krufi, chief executive officer of the National Pensions Regulatory Authority, said. “But, because the government ...

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• 25 September

  Philippines set to cut interest rates again

  

  Bloomberg Central banks in the Philippines and Thailand will grapple with mounting global risks when they decide interest rates this week, keen to bolster their economies against slower growth. Thailand was expected to keep interest rates unchanged on Wednesday after a surprise reduction last month, while a day later the Philippines will probably lower its benchmark rate for a third ...

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• 25 September

  Nigeria sees most banks raising lending to meet new ratio

  

  Bloomberg Central Bank of Nigeria Governor Godwin Emefiele said most of the country’s banks have obeyed a directive to raise loan-to-deposit ratio to 60 percent and those that fail to do so will face penalties by October 1. “Compliance level has been excellent,” Emefiele said in an interview with Bloomberg TV in London. “Not all the banks have complied, naturally. ...

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• 25 September

  Italy proposes Fabio Panetta for ECB board

  Bloomberg Italy has proposed veteran central banker Fabio Panetta as its candidate to replace Benoit Coeure as one of the European Central Bank’s top policy makers, according to a government official familiar with the matter. The Italian finance ministry sent Panetta’s candidacy to Mario Centeno, who leads the group of euro-area finance chiefs that will decide who joins the ECB’s ...

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• 25 September

  Sustainable investing must go mainstream: Goldman

  Bloomberg Banks and other financial firms need to get creative to bring sustainable investments into the mainstream, said David Solomon, Goldman Sachs’s CEO. Conversations with clients about climate exposure have “amped up materially” over the last two years, but sustainable investments like green bonds are still “relatively niche,” Solomon said at the Bloomberg Global Business Forum in New York. Such ...

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