July, 2017

• 17 July

  Oil holds above $46 amid robust China economic growth

  

  Bloomberg Oil steadied above $46 a barrel in New York after China’s economic growth in the second quarter slightly surpassed expectations, while OPEC’s commitment to supply curbs faltered. Futures were little changed in New York, after rising 5.2 percent last week. The world’s second-largest economy expanded by 6.9 percent from a year earlier, compared with the 6.8 percent median estimate ...

  Read More »
• 17 July

  Kuwait to boost oil-output capacity from 2030

  

  Bloomberg Kuwait plans to raise oil-production capacity to as much as 4.75 million barrels a day after 2030 as the OPEC member builds refineries in Asia to process more of its crude, the head of state-run Kuwait Petroleum International Ltd. said. The Gulf country, which currently can pump up to 3.15 million barrels a day, has plans to increase capacity ...

  Read More »
• 17 July

  Centrica may sell shares in new gas production company

  

  Bloomberg Centrica Plc and Stadtwerke Muenchen GmbH agreed to combine assets to set up a new European exploration and production company and may sell shares in the venture after two years. The UK’s biggest energy supplier to homes will own 69 percent of the business and the transaction is expected to close in the fourth quarter, Centrica said in a ...

  Read More »
• 17 July

  Oil industry giants make a play for millennial hires

  

  Bloomberg “This ain’t your daddy’s oil,” the commercial proclaims, cutting to shots of spray paint being made and a wall covered in fanciful graffiti. “Oil strikes a pose. Oil taps potential. Oil pumps life.” Oil, in short, is cool, the industry’s branding braintrust has declared. The 30-second spot rolled out this year is part of a broader American Petroleum Institute ...

  Read More »
• 17 July

  China economy charges on as leaders target risk ‘rhino’

  

  Bloomberg China’s economy grew faster than expected in the second quarter, putting the nation on track to meet its growth target this year and giving backing to officials in their campaign to corral oncoming financial risk. Data showing that the world’s second-largest economy expanded 6.9 percent in the second quarter, matching the pace from the first three months, was released ...

  Read More »
• 17 July

  Australia readying fresh mining investment wave as prices rally

  

  Bloomberg Mining companies in Australia, the world’s biggest exporter of iron ore and coal, are poised to approve fresh investments in projects, driven by rallying commodity prices and the need to replace depleting deposits, according to global equipment supply giant Komatsu Ltd. “They’re looking at new fleets of equipment,” Sean Taylor, chief executive officer of Komatsu’s Australian unit, said in ...

  Read More »
• 17 July

  Wanda deals in jeopardy as China scrutiny mounts

  

  Bloomberg China plans to cut off some funding for billionaire Wang Jianlin’s Dalian Wanda Group Co. after concluding the conglomerate breached restrictions for overseas investments, said people familiar with the decision. Six investments, such as the purchases of Nordic Cinema Group Holding AB and Carmike Cinemas Inc., were found to have violations, said the people, who asked not to be ...

  Read More »
• 17 July

  Aussies embody Thailand’s new strategy for tourism

  

  Bloomberg Thailand is now so popular for holidays that almost 35 million foreign tourists — equivalent to half the country’s population — are expected this year. As the influx gets harder to manage, the government is shifting strategy. It’s now targeting a minimum increase in tourism revenue of about 5 percent annually instead of a particular number of visitors, Tourism ...

  Read More »
• 17 July

  Singapore home sales fall 21% in June as fewer projects launched

  Bloomberg Singapore home sales fell 21 percent in June from the previous month as fewer new projects were launched in the city-state. Developers sold 820 units last month, compared with a revised 1,039 in May, according to Urban Redevelopment Authority data. A total of 159 units were offered, down from 370 in May, the data showed. Developer sales have fallen ...

  Read More »
• 17 July

  Qualcomm loses bid to stall $664k daily fines in EU battle

  

  Bloomberg Qualcomm Inc. lost a court bid to stall European Union regulators from imposing daily fines of 580,000 euros ($664,216) for failing to supply information for antitrust probes into the chip company’s sales tactics. San Diego-based Qualcomm can’t continue to refuse answering regulators’ questions because it didn’t show its business or financial health was at risk, EU General Court President ...

  Read More »