June, 2017

• 18 June

  Farsound Aviation wins lucrative contract with TS&S Aerospace

  

  Abu Dhabi / WAM MRO supply chain and logistics company, Farsound Aviation, has secured a multi-million-dollar contract renewal with Turbine Services and Solutions (TS&S) Aerospace, a specialised and leading maintenance, repair and overhaul provider for aircraft engines located in Abu Dhabi. The contract represents the renewal of an existing agreement and business relationship between the two organisations. David Skinner, Managing ...

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• 18 June

  BP, Reliance to revive India gas production, expand fuel sales

  

  Bloomberg BP Plc and Reliance Industries Ltd. will invest as much as $6 billion to revive gas output from offshore India and plan to expand their partnership to sell transport fuels amid efforts to boost the use of cleaner-burning energy in the world’s demand growth center. The companies are resuscitating a partnership born in 2011, encouraged by several government reforms, ...

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• 18 June

  Summer heat set to bolster biggest US gas rally since April

  

  Bloomberg Summer is about to kick in, and that’s good news for US natural gas bulls. Gas futures jumped 4.2 percent, the steepest one-day gain in 10 weeks, after a government report showed stockpiles grew less than expected. Prices could extend gains given forecasts for unusually warm weather that’s set to sweep across most of the lower- 48 states in ...

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• 18 June

  Indian coal power growth may stall as dirty plants seen shut

  

  Bloomberg India’s coal-fired power capacity may hardly grow over the next decade despite plans to build new plants as older facilities that can’t meet new environmental guidelines face closure. The nation may need to scrap about 40 gigawatts of thermal capacity that can’t be modernized to meet emission targets, according to Central Electricity Authority Chairman Ravindra Kumar Verma. That’s roughly ...

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• 18 June

  Forward curve for oil prices looks awful for OPEC

  

  Bloomberg As if a mini-collapse in oil prices wasn’t bad enough for OPEC, the pattern in which futures contracts are trading years from now has flipped into the worst possible structure for the exporter group. Brent and West Texas Intermediate crudes, down almost 15 percent since late May, are both trading in contango, where forward prices get higher all the ...

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• 18 June

  Bain, INCJ offer $19 billion for Toshiba chip unit

  

  Bloomberg A group led by Bain Capital LP and Japanese investors has offered about 2.1 trillion yen ($19 billion) for Toshiba Corp.’s semiconductor division, emerging as a leading bidder in the hotly contested auction, according to people familiar with the matter. The US private equity firm has the backing of state-supported Innovation Network Corp. of Japan and Development Bank of ...

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• 18 June

  Hyundai Motor counts on new SUV model to revive sales

  

  Bloomberg Hyundai Motor Co. is counting on its first global compact SUV model to revive flagging sales after missing out on the popularity of sport utility vehicles in its major markets. Vice Chairman Chung Eui-sun unveiled the Kona SUV, with a starting price of 18.95 million won ($16,800). The model will begin sales this month in South Korea, followed by ...

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• 18 June

  Price woes bring Indian farmers to streets

  

  Bloomberg As monsoon rains move across India — usually a boom time for the agriculture sector — farmers have left their land and taken to the streets amid growing anger over falling food prices and high debts. With protests spreading around the country, the government of Prime Minister Narendra Modi is under pressure to provide more incentives. A drop in ...

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• 18 June

  India’s palm oil imports rise for 4th month on low price

  Bloomberg India’s palm oil purchases probably climbed for a fourth straight month in May as a drop in global prices boosted demand amid a stronger local currency. Imports rose 21 percent to 798,000 metric tons from a year earlier, according to the median of five estimates in a Bloomberg survey of processors, brokers and analysts. Total vegetable oil purchases rose ...

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• 18 June

  White House divided on how to deal with cheap steel imports

  

  Bloomberg The White House is divided over how hard to come down on cheap steel imports in a debate that will help set the tone for future trade policy, according to two industry representatives briefed on the discussions. As the Commerce Department prepares to disclose its findings from an investigation into possible national-security threats posed by steel shipments, Secretary Wilbur ...

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