June, 2017

• 6 June

  Genel’s Iraq field output fall slows

  Kurdistan / Reuters Genel Energy’s main Taq Taq oil field in Iraqi Kurdistan has seen falling output in 2017 but the rate of decline has slowed recently, the company said in a statement prepared for its annual general meeting on Tuesday. Shares in Genel, which have fallen more than 92 percent since its peak in 2014, were down 3.2 percent ...

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• 6 June

  Nebraska only place in US where coal demand is up

  

  Bloomberg Looking for a rare bright spot in US coal? Consider Nebraska, the only state producing more electricity from the fossil fuel than it did a decade ago, according to a Bloomberg analysis of US government data. While America’s slashed its coal-fired electricity generation by more than a third between 2006 and 2016 — creating havoc for the coal sector, ...

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• 6 June

  Oil slips as gulf diplomatic clash seen having limited impact

  

  Bloomberg Oil dropped to the lowest level in more than three weeks as the market refocused on glut concerns after a diplomatic clash involving Saudi Arabia and Qatar was seen as having a limited impact on supply. Futures dropped 0.6 percent in New York, after rising as much as 1.6 percent earlier in the session. Saudi Arabia, Bahrain, the United ...

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• 6 June

  India’s Adani okays disputed Australian coal mine project

  

  Bloomberg India’s Adani Group will proceed with its $16.5 billion Carmichael coal project in Australia’s Queensland state after its board approved a final investment decision on the development. Adani announced the move on Tuesday after last-minute delays due to uncertainty over a royalty deal with the state and amid resistance to the project because of concerns that it will damage ...

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• 6 June

  China’s boom-bust industrial policy spawns bubbles galore

  

  Bloomberg China wants to own the 21st Century economy. That’s why Beijing economic planners have mapped out a full-on strategy called Made in China 2025 to dominate in artificial intelligence, robotics, electric vehicles and other key sectors. The government is spending big on tax breaks and subsidies to get these industries off the ground quickly. Call it industrial policy on ...

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• 6 June

  ‘Aussie house prices very elevated’

  

  Bloomberg The chief executive of Australia & New Zealand Banking Group Ltd. has joined the chorus of voices warning of risks in Australia’s surging housing market, though he said the probability of an outright crash is “really low.” Home prices are “very inflated,” ANZ’s Chief Executive Officer Shayne Elliott said in an interview on Tuesday with Bloomberg Television’s Stephen Engle ...

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• 6 June

  Noble Group’s shares roiled as investors zero in on debt talks

  Bloomberg Noble Group Ltd. shares extended their decline to the lowest level since 2000 amid rising investor concern that the embattled commodity trader may not be able to engineer a turnaround even as it presses on in talks with core banks to try to secure more funding. The stock tumbled as much as 11 percent to 28.5 Singapore cents and ...

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• 6 June

  Qatar crisis draws mediation effort as Saudis tighten screws

  

  Bloomberg Kuwait’s ruler is stepping up his efforts to resolve one of the worst crises among Gulf Arab monarchies, a day after Saudi Arabia and its allies isolated Qatar by cutting off air and sea transport and closing the small nation’s only land border. Sheikh Sabah Al-Ahmed Al-Sabah was to travel to Saudi Arabia on Tuesday to mediate an end ...

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• 6 June

  US-backed assault on IS Raqqa stronghold begins

  Bloomberg US-backed forces in Syria have begun the long-anticipated push to remove IS from their self-declared capital of Raqqa. The Kurdish-led Syrian Democratic Forces and its partners launched their offensive on Tuesday, the US Central Command said in an emailed statement. Raqqa was among the first cities captured by IS, also known as IS, and has been a base for ...

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• 6 June

  IS claims responsibility for Melbourne hostage-taking

  Bloomberg IS claimed responsibility for a hostage-taking in the Australian city of Melbourne that left a gunman and another person dead and three police officers injured. Following a standoff at an apartment building, officers shot dead 29-year-old Yacqub Khayre on Monday evening after he came out and fired a sawn-off shotgun at police. He captured a woman he’d arranged to ...

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