April, 2018

• 9 April

  Oil rises most in two weeks

  Bloomberg Crude climbed by the most in more than two weeks amid a weaker dollar and easing concern that a trade war will break out between the US and China. Futures jumped as much as 1.6 percent in New York as the dollar dipped, boosting oil’s appeal as a store of value. As investors evaluate the ongoing tensions between US ...

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• 9 April

  Saudi stock exchange counting on foreign funds to aid Aramco IPO

  

  RIYADH / Reuters Saudi Arabia’s stock exchange expects an influx of foreign funds to smooth the listing of national oil firm Saudi Aramco, despite concern among some analysts about whether the market can absorb the huge offer, the exchange’s chief executive said. “Foreign investors are putting in more money — every day we have improved liquidity capacity,” Khalid al-Hussan said ...

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• 9 April

  Philippines eyes joint exploration deal with Beijing in S China Sea

  

  MANILA / Reuters The Philippines is looking to seal a pact with China within a few months to jointly explore for oil and gas in a part of the busy South China Sea waterway claimed by both countries, a Philippine official said on Monday. In February, the two countries agreed to set up a special panel to work out how ...

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• 9 April

  Oil rises but US-China trade tensions remain a concern

  LONDON / Reuters Oil rose on Monday, recovering some of the decline on the potential impact on global growth from a trade dispute between China and the United States as well as rising US output. Markets were also eyeing the situation in Syria after reports – denied by the Pentagon – that US forces had struck a major air base ...

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• 9 April

  Nigerian oil firm Neconde mounts arbitration case against Shell

  

  LAGOS / Reuters Nigerian energy company Neconde has launched an arbitration case against Royal Dutch Shell, the West African firm’s chief executive said, alleging the oil major continued to lift crude and failed to remit funds after a lease had been sold. The oilfield in question, Oil Mining Lease (OML) 42, is also at the centre of corruption allegations. Shell ...

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• 9 April

  Trump: Beijing will be first to buckle in trade war

  

  Bloomberg President Donald Trump predicted China will be first to buckle as the world’s largest economies teeter on the brink of a trade war that’s sent financial markets reeling, without indicating where his assessment sprang from. “China will take down its trade barriers because it is the right thing to do,” Trump told his 50 million Twitter followers on April ...

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• 9 April

  Jack Ma challenges Mark Zuckerberg to ‘fix’ Facebook

  

  Bloomberg Jack Ma, the billionaire co-founder of Chinese e-commerce giant Alibaba Group, urged Mark Zuckerberg to tackle the growing criticism aimed at Facebook Inc. by regulators and users around the world, and “really take it seriously.” China’s richest man and chairman of Alibaba Group Holding Ltd. on Monday weighed in on the controversy, calling on his fellow internet pioneer to ...

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• 9 April

  China studies yuan devaluation amid trade spat

  

  Bloomberg China is evaluating the potential impact of a gradual yuan depreciation, people familiar with the matter said, as the country’s leaders weigh their options in a trade spat with US President Donald Trump that has roiled financial markets worldwide. Senior Chinese officials are studying a two-pronged analysis of the yuan that was prepared by the government, the people said. ...

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• 9 April

  Alibaba funding makes SenseTime world’s most valuable AI startup

  

  Bloomberg SenseTime Group Ltd. has raised $600 million from Alibaba Group Holding Ltd. and other investors at a valuation of more than $3 billion, becoming the world’s most valuable artificial intelligence startup. The company, which specialises in systems that analyse faces and images on an enormous scale, said it closed a Series C round in recent months in which Singaporean ...

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• 9 April

  Novartis bets on gene therapy with $8.7 billion AveXis deal

  

  ZURICH / Reuters Swiss drugmaker Novartis is moving further into gene therapy by buying AveXis for $8.7 billion, adding a rare-disease treatment that could reap billions in sales. The acquisition reflects a surge of interest in biotech deal-making as large pharmaceutical companies seek promising new assets to boost their pipelines. The $218-per-share cash deal announced on Monday represents a 72 ...

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