June, 2017

• 4 June

  ‘Made in China’ may threaten Boeing and Airbus

  

  Bloomberg November 2015 was a big month for Chinese aviation. That was when the state plane manufacturer known as Comac delivered its first passenger aircraft, a 90-seat jet called the ARJ21. May 2017 may prove bigger still, after Comac completed its first test flight of a larger plane, the C919. The new jet aims to take on Boeing Co. and ...

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• 4 June

  Russia’s Rosneft sees risk of shale neutering OPEC deal

  

  Bloomberg Russia’s most powerful oil boss said the deal between OPEC and its partners to curb output won’t stabilize the crude market over the long term as US shale fills the supply shortfall. “A decrease in production under an agreement between OPEC and non-OPEC could largely be balanced out by an increase in US shale oil production by the middle ...

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• 4 June

  Saudi $5.2 billion maritime project boosts Lamprell

  

  Bloomberg Shares in Lamprell Plc gained the most in more than two years after the builder of oil rigs partnered with Saudi Aramco to develop the biggest maritime yard in the region. Saudi Arabian Oil Co., also known as Aramco, established a joint venture with the kingdom’s national shipping company Bahri, South Korea’s Hyundai Heavy Industries Co. Ltd. and Lamprell ...

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• 4 June

  Oil posts biggest weekly loss in a month as rebalancing drags

  

  Bloomberg Oil posted its biggest weekly drop in four weeks amid questions over the effectiveness of OPEC’s deal to help rebalance the market as US production continues to grow. Futures slid 1.5 percent in New York. Russia’s most powerful oil boss said output curbs by OPEC and its partners probably won’t succeed over the long term as US shale fills ...

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• 4 June

  Saudi minister says more oil output cuts possible

  MOSCOW / Reuters Saudi Arabia Energy Minister Khalid al-Falih said further oil output cuts could be needed in the future but that OPEC and other leading producers would assess the market situation in July, Russia’s TASS news agency reported. The Organization of the Petroleum Exporting Countries (OPEC) and other nations led by Russia agreed last week to extend a deal ...

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• 4 June

  Gas sellers try new tricks to lure pickier buyers

  

  Bloomberg One of the stodgier corners of the energy industry is getting more relaxed. Liquefied natural gas sellers, which once did business almost entirely on long-term, oil-linked contracts, are offering shorter deals, more pricing options, unrestricted shipping terms and in some cases are even willing to invest in the infrastructure their buyers need to import the super-chilled fuel. “In the ...

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• 4 June

  Yuan forecasters blindsided as China jolts markets

  

  Bloomberg China’s yuan policy has blindsided forecasters once again. The sudden surge in the last four days — for the onshore exchange rate, it’s been the steepest gain in more than four months — pushed the currency beyond levels predicted by even the most optimistic analysts. Market watchers were caught off guard earlier in the year as well, when the ...

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• 4 June

  ‘China will be hot spot for global fund match’

  

  Bloomberg Neuberger Berman Group LLC said China will be a “hot spot” for competition among global funds as the importance of the nation’s capital markets grows. The New York-based firm, which is planning to start a private fund in China, estimates as many as five global managers will set up such operations in China by the end of this year. ...

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• 4 June

  Reliance telecom unit gets 7-month reprieve to pay debt

  

  Bloomberg Reliance Communications Ltd.’s lenders have agreed to a seven-month moratorium on the debt payments of Indian billionaire Anil Ambani’s wireless business, which had its credit rating slashed in the past month. Creditors have given Reliance Communications, or Rcom, time until December to sell its towers to Canadian asset manager Brookfield Infrastructure Group and merge the wireless business with Aircel ...

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• 4 June

  UPS forges China JV to tap country’s e-commerce boom

  Bloomberg United Parcel Service Inc. is setting up a joint venture in China to haul more US-bound goods and capitalize on booming e-commerce in the world’s most populous nation. The partnership with S.F. Holding Co. will offer customers more routes, shipping capacity and service options, the companies said in a statement. S.F. Holding and UPS will each invest $5 million ...

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