February, 2017

• 2 February

  Banks make ‘risk’ lucrative with bets for hedge funds

  

    Bloomberg Complex debt trades that started as a way for lenders to reduce their loan exposure are becoming a business opportunity for some of the world’s biggest investment banks. Others are worried they could become another source of systemic risk. Nomura Holdings Inc. and Credit Suisse Group AG are among the most-active firms earning high fees by providing loans ...

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• 2 February

  Learning the power of positive thought

  

    JUBA / AP Warnings of possible genocide hang over the world‘s youngest nation, but here on a basketball court under a fierce morning sun, South Sudan‘s civil war seems like another country. Flashing up and down the court in blue and yellow jerseys, the players laugh and sweat as their wheelchairs jostle for position. This wheelchair basketball tournament in ...

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• 2 February

  Helping migrants gives him ‘peace of mind’

  

    BELGRADE / DPA Yaser Harawi wasn’t too happy when his father sent him to study in Serbia rather than the US or Canada. Years later, the Syria-born doctor thinks it was a touch of fate. The 51-year-old from Damascus, who’s lived in Serbia for more than 30 years, has found meaning in helping Syrian and other migrants passing through ...

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• 2 February

  China oil trader’s Mideast spree shakes up world crude flows

  

    Bloomberg Crude purchases in one corner of the oil market by a Chinese trader are contributing to the shake-up of supply flows across the globe. China National United Oil Co. last month bought at least 7 million barrels of Middle East crude for March loading as part of an assessment process operated by Platts used to set price benchmarks, ...

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• 2 February

  World’s biggest solar-thermal plant making enough power

  

    Bloomberg The world’s biggest solar-thermal power plant is finally producing enough electricity. The Ivanpah Solar Electric Generating System in Southern California initially failed to meet contractual obligations, and a yearlong forbearance deal with Pacific Gas & Electric Co. expired Wednesday. After fine-tuning the complex facility that uses 170,000 mirrors, output is up and it’s no longer at risk of ...

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• 2 February

  Spike in maintenance to boost oil refining margins

    Reuters Increased refinery maintenance in Asia and the Middle East is expected to boost profits for operators in other regions in the first half of this year, market watchers said on Wednesday. Refineries worldwide ran hard during the past two years to capitalise on low oil prices, with Chinese refineries processing a record amount of crude in 2016, meaning ...

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• 2 February

  Iraq’s oil production unscathed by Trump travel ban

    Bloomberg Iraq’s decision not to reciprocate for US President Donald Trump’s visa ban on citizens of seven mostly Muslim countries offers some reassurance for US oil companies working in OPEC’s second-biggest crude producer. US companies working in Iraq include Exxon Mobil Corp. and oil-service providers Schlumberger Ltd., Halliburton Co. and Baker Hughes Inc. Most expatriates in Iraq work on ...

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• 2 February

  US oil exports to surpass production in four OPEC nations

  

    Bloomberg US crude exports are poised to surpass production in four OPEC nations in 2017 and may grow even more if President Donald Trump honors pledges to ease drilling restrictions and maximize output. The world’s largest oil-consuming country could sell as much as 800,000 barrels a day of crude overseas this year, according to four analysts surveyed by Bloomberg. ...

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• 2 February

  OPEC, Russia spare Asia oil supply cuts in fight to hold market share

    Reuters OPEC and non-OPEC producer Russia are shielding Asia from supply cuts agreed in a landmark deal last year as they fight to protect their share of the world’s biggest and fastest growing oil market. Instead, they have reduced deliveries to Europe and the Americas as they implement a coordinated agreement to cut supply by about 1.8 million barrels ...

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• 2 February

  Drones to keep an eye on illegal mining in India

  

    Bloomberg Desperate to develop its own mineral deposits, resource-hungry India is trying to revive investment by taking aim at illegal miners like the sand mafia — from a few hundred feet in the air. The government will deploy flying camera drones to track renegades who for years have been extracting everything from sand to coal to iron ore without ...

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