August, 2017

• 30 August

  Gasoline hits two-year high as Harvey shuts biggest US refinery

  

  Bloomberg Gasoline rose to a two-year high as Tropical Storm Harvey hit the US Gulf coast again after already knocking out a fifth of the nation’s refining capacity. Motiva Enterprises LLC’s Port Arthur refinery, the country’s biggest, was said to be shutting because of severe flooding. The disruption helped send motor fuel as much as 3.3 percent higher in New ...

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• 30 August

  Gazprom damps hope for increase in dividend

  

  Bloomberg Gazprom PJSC’s profit slumped in the last quarter, cooling the prospect of an increased dividend from the world’s largest natural gas producer. Net income plunged 80 percent as record gas exports to Europe were offset by foreign-currency losses, the Moscow-based company said in a statement late on Tuesday. Gazprom aims to keep its dividend payments in rubles no lower ...

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• 30 August

  Stalled Chile solar farm seeks $800 million in debt to restart

  

  Bloomberg A stalled solar-thermal project in northern Chile backed by a US private equity investor is seeking about $800 million in debt to resume construction, according to people familiar with the deal. EIG Global Energy Partners, the US private equity investor that took over the $1 billion Cerro Dominador solar plant last year, has received interest from “several international banks,” ...

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• 30 August

  Jordan-Iraq border crossing to reopen in major boost to trade

  AMMAN / Reuters Jordan will open its main border crossing with Iraq on Wednesday for the first time since 2015, now that Iraqi forces have gained control of the main highway to Baghdad from IS militants, both governments said. Iraqi troops pulled out of the Tureibil post, on the 180 km (110 mile) border, in summer 2014 after the militants ...

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• 30 August

  Debt issues mount as Lebanon begins long-delayed reforms

  

  BEIRUT / Reuters Lebanon has begun reforms to repair its fragile economy after years of paralysis in decision-making but is under pressure to do more to prevent its rising debt spinning out of control. President Michel Aoun, elected last year after 29 months without a head of state, signed off last week on public sector pay rises and tax increases ...

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• 30 August

  Larsen sees $28 billion golden goose in India’s defense orders

  

  Bloomberg Fresh from winning its biggest defense contract in May, Larsen & Toubro Ltd. is planning to bid for $28 billion of orders including warships and submarines in India as Prime Minister Narendra Modi breaks with tradition to embrace private, local suppliers. India’s new defense purchase policy that allows non-state local firms to compete for orders from the military is ...

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• 30 August

  Alibaba billionaire Tsai buys indoor Lacrosse team in San Diego

  

  Bloomberg Alibaba Executive Vice Chairman Joe Tsai has bought the National Lacrosse League’s expansion team in San Diego, bringing another billionaire owner to a league with plans to add franchises and expand its digital footprint. Tsai, who has a net worth of $11.4 billion, paid about $5 million for the yet-to-be-named franchise, according to a person with knowledge of the ...

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• 30 August

  Toyota invests in Grab to extend ride-share footprint

  

  Bloomberg Toyota Motor Corp. is pushing deeper into the ride-sharing business. Toyota Tsusho Corp., the automaker’s trading arm, will invest an undisclosed amount in Grab, Southeast Asia’s leading ride-hailing operator. Toyota Motor said it will work with Grab to provide services in the region, a year after the carmaker bought a small stake in Uber Technologies Inc. as it explores ...

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• 30 August

  China regulator to review Apple antitrust complaint

  

  Bloomberg China’s State Administration for Industry and Commerce is reviewing an antitrust complaint accusing Apple Inc. of abusing its dominant position in smartphone applications, people familiar with the matter said. The regulator is studying the information following a complaint filed on behalf of developers before deciding if a formal investigation is necessary, said the people, who asked not to be ...

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• 30 August

  Rains bring India’s financial capital to a halt

  Bloomberg Streets in Mumbai, India’s financial capital, were relatively empty while trading volumes in stock and bond markets dropped as residents stayed home following the worst downpour in 12 years. The city’s Santacruz weather center recorded 33.1 centimetres of rain in 24 hours that ended at 8:30 am on Wednesday, the most since 94.4 centimeters of precipitation recorded 12 years ...

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