May, 2017

• 15 May

  Erdogan welcomes decisive Trump meeting amid ‘row’

  Bloomberg Turkish President Recep Tayyip Erdogan said he’s looking forward to a “decisive meeting” with his US counterpart Donald Trump, whose decision to arm Kurdish groups against IS in Syria has stoked tensions between the two NATO members. “If we are strategic allies, then we should make decisions in alliance,” the Sabah newspaper cited Erdogan as telling reporters on Sunday ...

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• 15 May

  Travel ban faces second round at West Coast appeals court

  Bloomberg Attorneys from the U.S. Justice Department will again come before a federal appeals court to try to salvage President Donald Trump’s order banning travel from six mostly Muslim nations, after a judge said it appeared to be discriminatory. The hearing gets underway at 9:30 a.m. in Seattle. It’s the second time a three-judge panel from the Ninth Circuit Court ...

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• 15 May

  Saudi, Russia favour extending oil cuts until March 2018

  

  Bloomberg Saudi Arabia and Russia said they favour prolonging oil-output cuts by global producers through the end of the first quarter of 2018, setting a firmer timeframe for a likely extension of the curbs into next year. Crude prices jumped. Extending the curbs at already agreed-upon volumes is needed to reach the goal of reducing global inventories to the 5-year ...

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• 15 May

  Libyan oil output up as OPEC nears decision on cuts

  Bloomberg Libya is ratcheting up oil output with less than two weeks to go before the world’s biggest exporters decide whether to extend production cuts to clear a supply glut. The OPEC member with Africa’s largest crude reserves is pumping more than 814,000 barrels a day, thanks partly to rising output from two fields that re-started last month, Jadalla Alaokali, ...

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• 15 May

  Start-up of Vietnam’s Nghi Son crude refinery delayed

  

  SINGAPORE / Reuters The commercial start-up of Vietnam’s new $7.5 billion Nghi Son oil refinery will be delayed to 2018, from an initial expected start-up in the third quarter of this year, according to a notice on a government website. The 200,000 barrels-per-day (bpd) oil refinery is now planning to start commercial operations in the first quarter of 2018, according ...

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• 15 May

  Trudeau details partial ban on North Pacific oil tankers

  Bloomberg Days after a tight election made the Green Party a power-broker in Canada’s westernmost province, Justin Trudeau’s government is introducing a bill to ban crude oil tankers from using ports along the northern coast of British Columbia. The move, long signaled by Trudeau, is more political than of any immediate consequence. The area affected stretches from British Columbia’s border ...

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• 15 May

  Surprise rupee rally a new worry for Indian tech giants

  

  Bloomberg Just six months ago, Indian companies and policy makers were grappling with a record-low exchange rate. Now, the rupee’s unexpected rebound is causing fresh problems. While the currency’s 5.9 percent jump against the dollar so far this year will help tamp down inflation, it’s posing a challenge for the earnings of India’s exporters. For information technology and drug companies ...

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• 15 May

  China’s factory output, investment moderate as growth dials back

  

  Bloomberg The world’s second-largest economy dialed back a gear as authorities crack down on the nation’s swelling financial leverage. Industrial output rose 6.5% last month from a year earlier, compared to 7% seen by economists and 7.6% in March. Retail sales rose 10.7% versus 10.8% seen by analysts. Fixed-asset investment excluding rural areas expanded 8.9% for first 4 months, compared ...

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• 15 May

  Toshiba set to strike back in ‘chip unit deal’

  

  Bloomberg Toshiba Corp. is moving to block Western Digital Corp. employees from the flash-memory venture they share, after a threat of legal action loomed over the increasingly bitter dispute over who gets to buy the Japanese company’s chip unit. Western Digital invoked an arbitration clause in their business agreement, which could postpone a sale. Later on Monday, Toshiba will go ...

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• 15 May

  Singapore April home sales more than double from year ago

  Bloomberg Singapore home sales more than doubled in April from a year earlier as homebuyer sentiment rallied after the government rolled back some property curbs following a three-year slide in prices. Developers sold 1,555 units in April, compared with 750 units in the same period last year, according to data released on Monday by the Urban Redevelopment Authority. A total ...

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