March, 2017

• 13 March

  Canadian oil firm to spend $9.4 billion to buy Alberta fields

  

    Bloomberg The future of the Canadian oil sands is looking a lot more Canadian. Calgary-based Canadian Natural Resources Ltd. said it will spend C$12.7 billion ($9.4 billion), its biggest purchase ever, to buy Alberta oil fields and facilities that process the sticky bitumen from oil sands from Royal Dutch Shell Plc and Marathon Oil Corp. “At the time you ...

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• 13 March

  Libya crude oil output falls 11% on field closings

  

    Bloomberg Libya’s crude output dropped 11 percent as clashes among rival armed groups over the last 11 days led to the closing of some of the OPEC nation’s biggest oil export terminals, forcing a number of fields to halt production. Output fell by about 80,000 barrels a day to 620, 000 barrels since fighting among armed groups broke out ...

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• 13 March

  Oil steadies below $49 as US drillers boost activity

  

    Bloomberg Oil steadied below $49 a barrel as US drillers continued to boost activity, countering OPEC’s efforts to drain a global glut. Futures were little changed in New York after falling 9.1 percent last week, the biggest weekly loss since November. Rigs targeting crude in the US rose to the most since September 2015, according to Baker Hughes Inc. ...

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• 13 March

  EU utility pain worsens as Russian gas jumps most in 7 years

  

    Bloomberg The price European utilities pay for their natural gas is on a tear. Rates for Russian fuel at the German border last month jumped the most in seven years, extending their gain since September to almost 50 percent, according to the International Monetary Fund. The price of fuel from Moscow-based Gazprom PJSC may increase further even as prices ...

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• 13 March

  Sugar breakthrough paves way for Indonesia-Aussie trade deal

  

    Bloomberg Australia is pinning its hopes on sugar to revitalize exports to Indonesia, as it seeks momentum for a free trade agreement that has been mooted for nearly a decade. With two-way trade at its lowest since 2009, Australian Trade Minister Steve Ciobo hailed a recent deal to reduce sugar tariffs from 8 percent to 5 percent, bringing the ...

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• 13 March

  China’s Doublestar to buy Kumho tire stake in $830mn deal

  

    Bloomberg China’s Qingdao Doublestar Co. said it has signed an agreement with Kumho Tire creditors to buy a 42 percent stake in the South Korean tiremaker in a deal that could enable Doublestar to further expand in China. The deal, worth 955 billion won, or about $830 million, could help turn Doublestar into China’s largest tiremaker if it can ...

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• 13 March

  Singapore eases property market regulations

  

    Bloomberg Whether you look at prices or policy, the property markets in Singapore and Hong Kong are marching resolutely in opposite directions. Singapore has eased some rules in its property market, after more than three years of home price declines. Hong Kong in November tightened some restrictions, after prices rallied following a short-lived dip last year. The curbs in ...

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• 13 March

  Hong Kong securities regulator to probe CCB International’s IPO work

    Bloomberg Hong Kong’s securities regulator is investigating CCB International Holdings Ltd., the No. 2 underwriter of initial public offerings in the city last year, for its role advising a Chinese seafood supplier on now-scrapped listing plans, according to people with knowledge of the matter. The Securities and Futures Commission has been interviewing staff of the Chinese investment bank and ...

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• 13 March

  Ford to start producing luxury Lincoln SUV in China by 2019

  

    Bloomberg Ford Motor Co. will begin producing its upscale Lincoln brand in China by late 2019 after sales almost tripled last year, joining the ranks of automakers localizing production to avoid import taxes in the world’s largest auto market. The Dearborn, Michigan-based automaker will build an all-new SUV model with joint venture partner Changan Automobile Group in the city ...

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• 13 March

  Wall Street finds next big short in US credit market

  

    Bloomberg Wall Street speculators are zeroing in on the next US credit crisis: the mall. It’s no secret many mall complexes have been struggling for years as Americans do more of their shopping online. But now, they’re catching the eye of hedge-fund types who think some may soon buckle under their debts, much the way many homeowners did nearly ...

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