October, 2018

• 13 October

  IEA cuts oil demand forecasts but sees prices staying high

  

  Bloomberg The International Energy Agency (IEA) cut forecasts for oil demand this year and next because of growing threats to global economic growth, yet warned that dwindling spare oil supplies will keep prices high. Reduced growth estimates from the International Monetary Fund (IMF), trade disputes and the strain of high oil prices all fed into the downgrade to consumption, the ...

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• 13 October

  India seeks $1.5 billion investments to build emergency oil reserves

  

  Bloomberg India is seeking $1.5 billion of investments from global oil producers and traders to build additional emergency crude reserves that will act as a buffer against volatility in oil prices. The plan is to build underground caverns that can hold a combined 6.5 million tons of crude at two locations, Indian Strategic Petroleum Reserves Ltd. Chief Executive Officer H.P.S. ...

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• 13 October

  Chilean lithium miner profits from ‘explosive’ EV growth

  Bloomberg Electric vehicles (EV) may be commonplace sooner than most people think, and that could signal a bonanza for Chilean lithium producer Soc. Quimica y Minera de Chile SA. Larrain Vial, Chile’s largest brokerage firm, sees global EV penetration at almost 21 percent by 2025, well above the market consensus of 8 percent to 20 percent, Alexander Varschavsky, a senior ...

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• 13 October

  ‘Big oil to reap windfall on fossil fuel limits’

  

  Bloomberg Cracking down on fossil fuels could actually boost profits for the world’s biggest oil companies, though the industry must shift toward cleaner fuels or be left behind by investors, according to Goldman Sachs Group Inc. Major producers including Exxon Mobil Corp., BP Plc and Royal Dutch Shell Plc can slash carbon emissions and still see “materially higher” returns on ...

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• 13 October

  China imports robust despite worsening relations with US

  

  Bloomberg China’s exports rebounded, while imports remained robust, thanks to strong demand at home and abroad despite worsening relations with the US Exports in dollar terms rose 14.5 percent in September compared to the same period last year, the customs administration said, higher than the forecast of 8.2 percent. Imports climbed 14.3 percent, leaving a trade surplus of $32 billion. ...

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• 13 October

  Yi says, China not to use yuan as tool to deal with trade war

  

  Bloomberg China won’t use its currency as a tool to deal with trade conflicts, central bank Governor Yi Gang said, as a tariff war between the US and the world’s No. 2 economy intensifies. “China will continue to let the market play a decisive role in the formation of the RMB exchange rate,” Yi said in a statement to the ...

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• 13 October

  Indonesia says market stress good for reforms

  

  Bloomberg Indonesia’s weakening currency is a good thing as it will spur the government to accelerate reforms to bolster the economy, according to Thomas Lembong, chairman of the Investment Coordinating Board. The government will soon outline measures to open up the economy to more foreign investment, Lembong said at the “Bloomberg Modern Markets” conference in Bali, declining to elaborate ahead ...

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• 13 October

  India mulls more import curbs to prop up rupee

  Bloomberg India is considering a proposal to increase import duties on a raft of products ranging from plastic to steel as it seeks to curb a ballooning current-account deficit and prop up a sagging rupee, people familiar with the matter said. Prime Minister Narendra Modi’s administration is planning to increase tariff on items including furniture, chemicals and mobile phone components. ...

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• 13 October

  Curbs won’t cool housing prices in Singapore: Morgan Stanley

  

  Bloomberg Singapore home prices may rise as much as 10 percent by the end of next year and are on track to double by 2030 as faster income growth overpowers recent property curbs and higher interest rates, according to according to Morgan Stanley. Home prices rose in four of the five previous rate hike cycles, Morgan Stanley analysts said in ...

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• 13 October

  Pakistan may face tougher conditions for 13th IMF bailout

  

  Bloomberg A regular client of the International Monetary Fund (IMF), investors are asking whether Pakistan’s 13th loan program since the late 1980s will finally break a cycle of financial crashes and bailouts. Pakistan’s history of taking the lender’s money while dragging its heels on economic reforms suggest otherwise. With Islamabad now formally requesting IMF aid — seeking to raise anywhere ...

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