November, 2018

• 17 November

  UAE, NSSA ink declaration to train Bahraini space team

  

  MANAMA / WAM The United Arab Emirates Space Agency (UAESA), signed a Declaration of Principles with Bahrain’s National Space Science Agency (NSSA), and the UAE’s Khalifa University, for the Training of the Bahrain Space Team. The signing took place on the sidelines of the 5th Bahrain International Airshow, held at the Sakhir Air Base in Bahrain, under the patronage of His ...

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• 17 November

  Canada’s oil industry divided over forced production cuts

  

  Bloomberg Canada’s oil sector is divided over whether to force a temporary cut to production, with some major producers pushing the controversial idea in a bid to ease a supply glut and halt a steep plunge in prices, according to seven people familiar with the matter. Executives from Canadian Natural Resources Ltd and Nexen Energy ULC are among those who ...

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• 17 November

  Citi: Oil’s plunge a ‘made in America’ phenomenon

  

  Bloomberg American fingerprints are all over oil’s record losing streak that’s plunged prices into a bear market. The State Department’s zigzag on Iran sanctions, President Donald Trump’s tweets about Opec supply, the demand-sapping trade war with China and the explosion of shale oil production are all key factors leading to the collapse in crude prices since early October, Ed Morse, ...

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• 17 November

  Conoco plans to start North Sea asset sale this year

  

  Bloomberg ConocoPhillips plans to invite bids by the end of the year for its remaining North Sea assets, which could be valued at up to $3 billion in a sale, according to people with knowledge of the matter. The assets, which would include what’s left of its holding in the Clair Field, are likely to draw interest from private equity-backed ...

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• 17 November

  UK told to study biomass use by power industry

  Bloomberg China, the driver of global demand, is forecast to become the world’s largest gas-buying country with net imports approaching the level of the European Union by 2040, according to the International Energy Agency’s the World Energy Outlook. China already overtook South Korea as second-largest LNG importer last year and is on track to surpass Japan. By 2040, it will ...

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• 17 November

  Flipkart billionaire’s exit puts corporate India on notice

  

  Bloomberg The surprise resignation of an Indian tech billionaire has pulled corporate India deeper into the #MeToo firestorm that’s been sweeping through the American business community for more than a year. Walmart Inc. announced that Flipkart co-founder Binny Bansal was leaving the company after an independent probe into allegations of assault. While Bansal denies any wrongdoing and the investigators didn’t ...

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• 17 November

  Glut of Indian sugar hits London bourse after futures expiry

  

  Bloomberg A glut of sugar from India, the world’s second-largest producer, has hit the London exchange as traders sold the sweetener to settle the expiration of December futures. ED&F Man Holdings Ltd. took delivery of about 350,000 metric tons of white sugar, with Singapore-based trader Wilmar International Ltd. selling the majority, said people familiar with the process, who asked not ...

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• 17 November

  Volvo Polestar targets China as its fight with Tesla looms

  

  Bloomberg Volvo Cars’ performance electric-vehicle brand sees China as its greatest opportunity even as it’s set to face stiff competition from Tesla Inc. The unit, Polestar Performance AB, expects to get as much as half of its sales from the country after it rolls out three models by 2021, said Thomas Ingenlath, the brand’s global chief, at the Guangzhou auto ...

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• 17 November

  Jollibee Fried Chicken tempting homesick Filipinos

  

  Bloomberg Better watch out Kentucky Fried Chicken, Jollibee is planning to eat into your markets. Jollibee Foods Corp. wants to expand to 150 stores in the US in five years from 37 branches now, Chief Executive Officer Ernesto Tanmantiong said. The company also plans 100 additional stores in Canada as part of a push to land in the world’s top ...

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• 17 November

  China’s fight against smog makes palladium 2018’s best metal

  

  Bloomberg Palladium prices are shattering record highs, and investors are betting that tight supplies mean the bull run is just getting started. The metal, used in pollution-control devices in cars, has jumped almost 9 percent this year in New York, the best performance among major metals. Demand is roaring thanks to China, which is on a mission to reduce smog ...

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