March, 2019

• 6 March

  Pearl Petroleum inks pact to hike gas output at Khor Mor

  

  Sharjah / WAM Pearl Petroleum Company Limited, the consortium led by Crescent Petroleum and Dana Gas of the UAE, has signed a new 20-year Gas Sales Agreement (GSA), with the Kurdistan Regional Government. The agreement will enable production and sales of an additional 250 MMscf/day that the consortium aims to produce by 2021 as part of their expansion plans in the ...

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• 6 March

  NZBC to boost economic ties of UAE-New Zealand

  

  Dubai / WAM Dubai Chamber of Commerce and Industry has announced the formation of the New Zealand Business Council (NZBC), in Dubai in a move to strengthen UAE-New Zealand relations and expand bilateral economic ties. The New Zealand Business Council is the 50th country-specific business council to be established in Dubai under the umbrella of Dubai Chamber. The council has ...

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• 6 March

  Big bonuses return for Europe energy traders as prices rally

  

  Bloomberg After a few years of roughly stable payouts for many of Europe’s energy traders, big bonuses are back for the cream of the crop. The best traders in natural gas to power can look forward to handsome rewards after navigating markets that last year sparked to life with more bullish trends and a good dose of volatility. More people ...

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• 6 March

  Ecopetrol CEO says $3.6bn Colombia stake not needed

  

  Bloomberg The head of Colombia’s state oil company Ecopetrol said he doesn’t see the need for the government to sell another stake in the company — an idea the finance minister supports. The ministry is weighing the sale of an 8.5 percent stake in Ecopetrol, worth about $3.6 billion. CEO Felipe Bayon said such a sale could take as long ...

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• 6 March

  PDVSA’s Caribbean footprint is waning

  

  Bloomberg Despite sitting on top of the world’s largest crude reserves, the reach of Venezuela’s state-owned oil company is receding. In the 1980s Petroleos de Venezuela SA started an international expansion with the objective of finding new outlets for its growing oil production. The company bought Citgo Petroleum Corp. in the US, leased the Isla refinery in Curacao, bought a ...

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• 6 March

  US, China trade deal is leaving currencies as fighting ground

  

  Bloomberg The US and China are edging closer to resolving differences on currencies that have bogged down economic talks for nearly two decades. The only question is how meaningful the deal will be. With both nations inching towards a trade agreement that’s expected to include a provision for China to hold the yuan stable, US President Donald Trump is shifting ...

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• 6 March

  ‘China won’t make big concessions to US on trade pact’

  

  Bloomberg China won’t make big concessions to the US in order to seal a trade deal, former finance minister Lou Jiwei said in Beijing on Wednesday, calling some US demands for change “unreasonable.” “China’s concessions probably won’t be very big because a lot of their demands are what we already plan to reform,” Lou, who was finance minister until 2016 ...

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• 6 March

  Indonesia’s Mayora to boost exports

  

  Bloomberg PT Mayora Indah, Indonesia’s largest listed consumer goods exporter, expects demand for its instant coffee and biscuits to drive a double digit growth in revenue during next five years. The company, which generates about half its revenue overseas, will boost instant coffee exports to Russia and Eastern European countries this year, said Ricky Afrianto, Mayora’s global marketing director. It ...

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• 6 March

  Ghosn walks out of prison on $8.9mn bail after 108 days

  

  Bloomberg Carlos Ghosn walked out of a Tokyo prison on bail after 108 days in detention, vowing to fight allegations of financial crimes that could imprison the former Nissan Motor Co. chairman for as long as a decade. Flanked by police officers and wearing construction worker reflectors, a light blue baseball cap, a face mask and eyeglasses, Ghosn climbed into ...

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• 6 March

  Kotak Asset picks battered midcaps to ride poll season

  

  Bloomberg Investors looking for opportunities to make money in India’s election year will most likely find them in the battered corner of the nation’s $2 trillion stock market: mid-cap shares. Mid- and small-sized companies are trading at a discount to their historical averages after the recent selloff, and the fund house plans to gradually boost its exposure to them relative ...

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