September, 2017

• 19 September

  ‘Myanmar ready to welcome back Rohingyas’

  

  Bloomberg Myanmar leader Aung San Suu Kyi said her government was ready to welcome back Rohingya refugees who fled a crackdown by security forces over the past month. “We condemn all human rights violations and unlawful violence,” Suu Kyi said on Tuesday in a rare televised English-language address from the capital Naypyidaw. “We are committed to the restoration of peace, ...

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• 19 September

  Kenya poll ‘fake news’ undermines rule of law

  

  Bloomberg An upsurge in fake news, hate speech and ethnic-profiling after Kenya’s Supreme Court nullified the presidential election risks undermining the East African country’s constitution and institutions, the embassies of the US, UK and 14 other nations said. Kenyan authorities should hold to account those responsible for incitement and ensure the safety of those wrongly attacked, including people working at ...

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• 19 September

  Saudi Arabia raises $1.9bn from domestic sukuk sales

  

  Bloomberg / Reuters Saudi Arabia raised 7 billion riyals ($1.9 billion) from domestic sukuk sales as the kingdom seeks to bolster its finances amid an economic overhaul and lower oil prices. The government received more than 24 billion riyals in bids for its third riyal-denominated Islamic bond sale, according to a statement on the Ministry of Finance’s website. It raised ...

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• 19 September

  Saudi may raise domestic gasoline prices by 80%

  

  Bloomberg Saudi Arabia is considering a plan to phase out subsidies for gasoline and jet fuel in November at the latest, as the world’s biggest oil exporter pushes a program to curtail public spending after a global slump in prices. The government would boost gasoline to parity with varying international prices under the plan, according to a person with knowledge ...

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• 19 September

  Aramco plans to buy non-Saudi crude in global trading expansion

  

  Bloomberg Saudi Aramco plans to expand its trading business by buying and selling non-Saudi crude as the world’s biggest exporter prepares for what could be a record initial public offering. The state-owned company is putting crude marketing and refined-product trading under the same management, according to Ibrahim Al-Buainain, chief executive officer of Saudi Aramco Products Trading Co.. The enlarged unit ...

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• 19 September

  Oil rises above $50 as Iraq positive for more OPEC action

  

  Bloomberg Oil extended gains above $50 a barrel in New York as Iraq raised the prospect of OPEC taking further steps to clear a global supply glut. West Texas Intermediate futures added 0.4 percent. Iraqi Oil Minister Jabbar al-Luaibi said there’s support in the Organization of Petroleum Exporting Countries to deepen output curbs by about 1 percent. Still, Iraq has ...

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• 19 September

  Hedge funds bet on fuels as storm trade persists

  

  Bloomberg The post-Harvey buzz over fuels is making US crude look like the poor stepchild of hedge funds. Since the storm battered the heart of America’s refining industry last month, bets on rising gasoline and diesel prices have surged for three straight weeks to the most bullish in years. But when it comes to West Texas Intermediate crude, skepticism is ...

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• 19 September

  Kuwait tackles another offshore oil spill

  DUBAI / Reuters Major oil exporter Kuwait is dealing with another crude oil spill off its southern coast, state news agency KUNA said, the latest in a series of unexplained leaks in the Gulf Arab state in recent months. KUNA said the latest spill has been detected in the Ras al-Zour area, where Kuwait National Petroleum Company (KNPC) is building ...

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• 19 September

  Sonatrach to boost output from Rhourde El Baguel field

  RHOURDE EL BAGUEL / Reuters Algeria’s state-run energy firm Sonatrach will boost gas output by 10 million cubic metres per day at its giant Hassi Messaoud field and will then increase output by 6 mcm a day at nearby Rhourde el Baguel oil field, its chief executive said. Sonatrach CEO Abdelmoumen Ould Kaddour, on a visit to the field, said ...

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• 19 September

  China developers face $38bn ‘bond challenge’

  

  Bloomberg Chinese property developers face a wall of local bonds that investors can force them to pay off next year ahead of schedule, just as rising interest rates raise the risk that more note holders may opt to do so. Investors have an option to offload $38 billion of such notes in 2018, according to Bloomberg data. To put some ...

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