August, 2017

• 9 August

  Gas sellers warn of market shift against hard-bargaining buyers

  

  Bloomberg A worldwide glut of natural gas has buyers of the fuel driving hard bargains and pushing for shorter supply contracts. The only problem with that, according to their sellers: The market’s about to turn against them. Gas buyers have become too focused on the short-term, turning away from long-term contracts, said Greg Vesey, chief executive officer of Liquefied Natural ...

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• 9 August

  Biggest fuel pipeline in US fills up as East Coast tanks drain

  

  Bloomberg Colonial Pipeline is back to business as usual — with more demand to move fuels to the East Coast from Houston than it has space for. After running below capacity about 45 days starting in July, the largest gasoline pipeline in the US has restarted its practice of rationing space. The company froze shippers’ ability to nominate more fuels ...

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• 9 August

  OPEC: UAE, Iraq, Kazakhstan commit to cuts

  

  Bloomberg OPEC said Iraq, the United Arab Emirates and Kazakhstan — who have lagged in their implementation of a deal to cut production — affirmed their commitment to the accord at a meeting in Abu Dhabi. “All expressed their full support” for the system to monitor the cutbacks “in order to achieve the goal of reaching full conformity,” OPEC said ...

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• 9 August

  Investcorp to make investments in real estate, private equity

  

  DUBAI / Reuters Bahrain-based Investcorp is aiming to make 10 investments across its private equity and real estate businesses in the current financial year, Co-Chief Executive Rishi Kapoor said on a media call.¬ The investments will help the company achieve its goal of raising its assets under management to $25 billion in the next three years or so, Kapoor said. ...

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• 9 August

  Russian oil firm deals supply curbs with ‘innovation’

  

  ALMYETYEVSK / Reuters A global deal cutting crude output has forced mid-sized Russian oil company Tatneft to curb flows at some fields, leaving it with lower revenues but little relief from maintenance and running costs. Its response: innovation. Yelkhovneft, a Tatneft unit in the semi-autonomous republic of Tatarstan some 1,200 km (750 miles) southeast of Moscow, has cut oil output ...

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• 9 August

  China’s silk road revival lends urgency to India’s Asia goals

  

  Bloomberg When Prime Minister Narendra Modi’s government approved $256 million to upgrade a section of a remote border road last month, few took notice. Yet India’s decision to revive plans for the trilateral highway, part of an ambitious 1,360-kilometre (845 mile) crossing to link northeastern India with markets in Thailand and beyond, marks the next phase in the jostle between ...

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• 9 August

  Tata hiring bankers to help sell units

  

  Bloomberg Nearly six months after his turbulent elevation to run India’s biggest conglomerate, Natarajan Chandrasekaran is assembling a team of dealmakers to refocus some of the group’s biggest businesses, expand its financial services and consumer businesses and sell or merge dozens of smaller units, according to interviews with senior executives. As many as one-third of the group’s 100-plus units could ...

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• 9 August

  Indian cities to grow the fastest in Asia as Chinese rivals slow

  

  Bloomberg Delhi will have the fastest growth of any city in Asia, with the economy to be almost 50 percent larger in 2021 than it was at the end of last year. Indian cities are set to expand the most across the region, with growth speeding up from the past 5 years, according to a new study from Oxford Economics, ...

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• 9 August

  Gold imports by India doubled in July

  Bloomberg Gold imports by India are said to have risen in July on arrival of some delayed shipments booked ahead of the implementation of a new national goods and services tax on July 1, according to sources. Inbound purchases rose to 53.4 metric tons last month from 22 tons a year earlier, said the person, who didn’t wish to be ...

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• 9 August

  Trump’s ‘fire and fury’ warning to North Korea rattles world

  

  Bloomberg President Donald Trump’s threat to hit North Korea with “fire and fury” jolted markets from New York to Seoul even as US lawmakers questioned the president’s willingness to back up the heated rhetoric. “North Korea best not make any more threats to the United States,” Trump told reporters in Bedminster, New Jersey, on Tuesday. “They will be met with ...

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