June, 2017

• 13 June

  S Africa opposition’s ex-leader keeps post after tweet dispute

  Bloomberg Helen Zille, the former leader of South Africa’s main opposition Democratic Alliance, will remain as premier of the Western Cape province after giving a public apology for tweets that appeared to defend colonialism. Zille will be excluded from all party structures and the DA will control her communications, including her use of social media, DA leader Mmusi Maimane told ...

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• 13 June

  Panama to establish ties with China in latest blow to Taiwan

  

  Bloomberg Panama is opening diplomatic relations with China, the latest blow to Taiwan as Beijing’s leaders seek to isolate the self-governed island. Panamanian President Juan Carlos Varela announced the move in a national address. China is the second-biggest user of the Panama Canal and has played a key role in sectors from banking to telecommunications, he said, adding that Taiwan ...

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• 13 June

  Anti-Putin protest: Navalny jailed for 30 days

  

  Bloomberg Most of the hundreds detained at Monday’s anti-Kremlin protests in Moscow were released overnight, while opposition leader Alexey Navalny was sentenced to 30 days for his role in organizing the unsanctioned rally. Of the more than 800 people detained in Moscow, at least 32 were still being held at 4 a.m. local time, according to OVD-Info, a group that ...

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• 13 June

  Finnish PM faces dwindling options to avoid election

  Bloomberg Finland’s Prime Minister Juha Sipila could face a tight squeeze to avoid a snap election after the biggest opposition parties quickly ruled out giving him any help in the current political impasse. Sipila put a new election into play on Monday after he and the National Coalition dumped their junior coalition partner, The Finns, in a bid to find ...

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• 13 June

  GE wins US antitrust approval for tie-up with Baker Hughes

  

  Bloomberg General Electric Co. and Baker Hughes Inc. have cleared a second major antitrust hurdle in their effort to create the world’s second-biggest oilfield services provider. GE won approval from the US Justice Department to combine its oil and gas business with Baker Hughes. The clearance follows by two weeks a similar decision by European regulators, and comes just hours ...

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• 13 June

  Egypt’s GDP growth to hit 5.3% by 2019

  

  CAIRO / Reuters Egypt’s gross domestic product is projected to grow 5.3 percent by 2019, suggesting the economy of the most populous Arab state is recovering after years of turmoil, the World Bank has said. In its monthly Global Economic Prospects report for June, the Bank estimated Egypt’s GDP would grow 3.9 percent in the 2016-17 fiscal year, which ends ...

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• 13 June

  US shale gas giants battle for dominance as supplies surge

  

  Bloomberg The two biggest shale gas deposits in the US are producing a record amount of the power-plant fuel, signaling that a fight for market share will intensify as supply outstrips demand. As natural gas prices rebound from last year’s historic lows, output from the Marcellus shale basin in the US East and the Permian reservoir in Texas is driving ...

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• 13 June

  Oil holds gains as American crude stockpiles seen resuming decline

  

  Bloomberg Oil held gains near $46 a barrel before US government data forecast to show crude stockpiles resumed declines after an unexpected rise. Futures climbed 0.2 percent in New York after advancing 1 percent in the previous two sessions. Inventories are forecast to have slid by 2.25 million barrels last week, according to a Bloomberg survey before an Energy Information ...

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• 13 June

  Glencore doubles down on coal as rivals head for exit

  

  Bloomberg Glencore Plc is doubling down on coal, even as rivals BHP Billiton Ltd. and Rio Tinto Group move away from the world’s dirtiest fossil fuel. The company, run by former coal trader Ivan Glasenberg, made a surprise eleventh-hour $3.5 billion bid for a huge patch of thermal coal-rich ground on Australia’s east coast controlled by Rio Tinto Group and ...

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• 13 June

  India signals flagship tax reform on track as timing questioned

  

  Bloomberg India’s government has signaled it will press ahead with the roll out of a goods and services tax on July 1, pushing back against speculation it’s considering delaying the launch of one of its flagship reforms. “The rumors about GST implementation being delayed are false,” Revenue Secretary Hasmukh Adhia said in a Twitter post on Tuesday. “Please do not ...

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