April, 2019

• 13 April

  DP World to showcase ‘door-to-door’ logistics at GPCA

  

  Dubai / Emirates Business DP World UAE Region will showcase its latest range of offerings for the petrochemicals and chemicals sector at the 11th Gulf Petrochemical and Chemical Association (GPCA) trade show that will be held from April 15-17 in Dubai. The company will highlight new door-to-door logistics solutions that cover the full breadth of the supply chain and support ...

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• 13 April

  Russia’s Putin keeps options open on oil curbs extension

  

  Bloomberg President Vladimir Putin kept his options open on whether to extend Russia’s joint oil-production cuts with Opec beyond June, saying he wanted to continue cooperation with the group but also highlighting the many uncertainties in the market. Russia is comfortable with current oil prices, which rose to a four-month high above $70 a barrel in London, Putin said at ...

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• 13 April

  Seplat, NNPC to raise $700m for gas plant due next year

  Bloomberg Seplat Petroleum Development Co. and Nigeria’s state oil company will raise $700 million for a joint gas project scheduled to start production next year as the government steps up plans to reduce the country’s reliance on oil. The project, known as Assa North-Ohaji South, is one of seven to boost gas production and infrastructure development in the West African ...

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• 13 April

  California refinery woes lift gas prices

  Bloomberg California drivers are facing the prospect of paying $4 a gallon at the pump for the first time in five years after its refineries were hit by a series of breakdowns. Pump prices in the most populace US state have gained 12 cents in the past week to average $3.71 a gallon, according to AAA. That’s about three times ...

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• 13 April

  Swedbank hit by criminal probe in money laundering scandal

  

  Bloomberg Efforts to fight money laundering across the Nordic and Baltic states took a more aggressive turn. Estonia’s state prosecutor is expanding an investigation into Danske Bank A/S to include Swedbank AB of Sweden. Meanwhile, the accounting firms Ernst & Young and KPMG were both reported to the police in Denmark amid allegations they failed to respond to red flags ...

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• 13 April

  ECB negative rate review gets tentative welcome

  

  Bloomberg Two of the ECB Governing Council’s leading members gave a tentative welcome to the review of the institution’s negative rate policy announced this week by President Mario Draghi. Speaking at the International Monetary Fund meetings in Washington, both Chief Economist Peter Praet and Bundesbank president Jens Weidmann signaled they were open to the rethink, though they stopped short of ...

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• 13 April

  JPMorgan widens gap over Wells Fargo adding $2bn more to revenue

  

  Bloomberg JPMorgan Chase & Co. and Wells Fargo & Co. have long been locked in a fierce race to serve US consumers. One is pulling ahead. JPMorgan now generates $2 billion more in revenue from its consumer banking unit than its rival, after trailing Wells Fargo by almost $1 billion just two years ago. Jamie Dimon’s New York firm has ...

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• 13 April

  IMF official defends BOJ’s 2 percent inflation target

  

  Bloomberg A senior official at the International Monetary Fund (IMF) defended the Bank of Japan’s (BOJ) 2 percent inflation target as appropriate and important to achieve. “Two percent is what the central banks of major economies are pursuing,” Odd Per Brekk, deputy director of the Asia-Pacific department, said in an interview. “Over time, if this can be accomplished then it ...

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• 13 April

  Strong Canadian banks dash short sellers’ monetary hopes

  

  Bloomberg Canadian households are wallowing in debt. Home prices are falling. Credit growth, the key driver for bank earnings, is hovering close to its slowest pace since 1983. All of which should be bad news for the country’s lenders — and good news for investors betting against them. “Should” being the operative word. Even with danger signs piling up, the ...

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• 13 April

  EU eyes $12b duty damages in row with US on Boeing

  

  Bloomberg The European Union is considering hitting US goods ranging from handbags to helicopters with retaliatory tariffs to the tune of $11.5 billion in a dispute over subsidies to Boeing Co, according to a draft list seen by Bloomberg News. The plan follows a US threat to seek $11 billion in damages through duties on European goods ranging from helicopters ...

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