September, 2018

• 16 September

  Pound ‘volatility’ over euro to persist on Brexit concerns

  

  Bloomberg Buying protection over fluctuations in the pound will remain a relatively costly exercise as Brexit headlines gather momentum and central banks slowly tighten policy. Uncertainty over the endgame of Brexit talks — key disagreements still need to be addressed — and risks that euroskeptic Conservatives may challenge UK Prime Minister Theresa May’s leadership may support gamma demand for sterling. ...

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• 16 September

  RWE fears lignite industry collapse in ‘hasty coal exit’

  

  Bloomberg Chancellor Angela Merkel’s plan to phase out coal-fired power plants in Germany should stop short of “prematurely” closing brown coal facilities, or she risks the collapse of the nation’s mining industry as well as persistent blackouts, RWE AG said in a report. Shuttering coal plants may have a “domino” effect on mining, which is regulated by concessions that would ...

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• 16 September

  Oil set for gain while uncertain outlook spurs volatility

  

  Bloomberg Oil headed for a weekly gain as threats to supply in Iran and Venezuela overshadowed risks to demand, while an uncertain outlook heightened volatility. Futures in New York are on course for a 1.7 percent advance this week amid signs that looming US sanctions are taking a toll on Iranian crude exports. Volatility headed for the biggest weekly increase ...

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• 16 September

  UK tourists died of illness triggered by E. Coli, says Egypt

  Bloomberg A British couple vacationing at the Red Sea resort of Hurghada last month died of illness triggered by E. coli bacteria, Egypt’s prosecutor said, citing a forensic report. John and Susan Cooper died on August 21 while staying at the Steigenberger Aqua Magic hotel. The couple had been booked at the hotel through tour operator Thomas Cook Group Plc, ...

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• 16 September

  Zamil Offshore, King Abdulaziz University sign cooperation pact

  Dubai / Emirates business Under the patronage of HE Prof Abdulrahman Obaid AI-Youbi, an agreement was signed between King Abudlaziz University and Zamil Offshore. The agreement was signed by the Dean of the Faculty of Maritime Studies Dr. Hattan Timraz and Mr. Mazen S Al Harbi Chief of Human Resources of Zamil Offshore. The cooperation agreement signed between the two ...

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• 16 September

  Nordic power losses blow to world’s oldest market

  

  Bloomberg A big trading scandal was the last thing Nasdaq Inc.’s Nordic power market needed. Once the kingpin of European electricity trading, activity on the world’s oldest power market is languishing at its lowest level since 1999 after some of the biggest banks, hedge funds and industrial consumers deserted the market as tougher regulation made buying and selling too expensive ...

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• 16 September

  Apple celebrates new iPhone models as Asia suppliers suffer

  

  Bloomberg With a suite of new devices and a market value of $1 trillion, Apple Inc. has given its investors cause to celebrate. That’s not the case for a number of its suppliers in Taiwan which have suffered from stagnating shipment growth. General Interface Solution Holding Ltd. is the worst performer in the MSCI Taiwan Index over the past year, ...

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• 16 September

  Go-Jek in talks to raise $2 billion in funding

  

  Bloomberg Go-Jek, Indonesia’s most valuable technology startup, is in talks to raise at least $2 billion to fuel an accelerated expansion overseas, according to a person with direct knowledge of the matter. The Jakarta-based company plans to close the funding round in several weeks, the person said, asking not to be identified because the information is private. The startup’s existing ...

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• 16 September

  Tencent, Hillhouse to manage China’s offshore trillions

  Bloomberg Tencent Holdings Ltd. and Hillhouse Capital Management Ltd. are joining the throng of financial firms seeking to service the huge number of Chinese investors looking to diversify outside of the mainland. GaoTeng Global Asset Management Ltd., the duo’s one-year-old venture in Hong Kong, plans to start accepting money shortly from retail Chinese investors who have existing assets internationally, according ...

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• 16 September

  Chin’s Link Motion CEO resigns in Zhongzhi deal

  Bloomberg Link Motion Inc., a Beijing-based connected-car firm, said CEO Zemin Xu and two other top executives are resigning. Jia Lian has been appointed acting CEO to restructure management as part of new agreements with Zhongzhi Hi-Tech Overseas Investment Ltd., Link Motion said in a statement late Friday. Chief Financial Officer Roland Wu and General Counsel Justin Chen, who also ...

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