January, 2017

• 12 January

  FB adds advertising to Instagram Stories

  

    Reuters Facebook Inc’s Instagram is bringing more than 30 advertisers into one of its fastest-growing features, Instagram Stories, in a bid to boost advertising revenue, the company said. The social media company will become a more important player in maintaining Facebook’s growth in advertising revenue in 2017. During the last two earnings calls, Facebook executives said they may soon ...

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• 12 January

  Saudi oil cut exceeds target

  

    Bloomberg Saudi Arabia will consider renewing its pledge to cut crude output in six months and has already reduced production by more than its targeted level, Energy Minister Khalid Al-Falih said. The world’s biggest oil exporter agreed to cut 486,000 barrels a day from Jan. 1 for six months as part of a global deal to reduce output to ...

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• 12 January

  ‘Israel’s internet hinges on Bezeq revamp’

  

      Bloomberg The future of internet in Israel may depend on allowing a reorganization of Bezeq Israeli Telecommunication Corp., despite concerns the move could undermine years of efforts to make the local market more competitive. “If we don’t move ahead with a national fiber-optic infrastructure, Israel’s internet will get stuck in another two or three years,” Regional Cooperation Minister ...

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• 12 January

  India solar prices set to drop amid competition, lower costs

  

    Bloomberg The price paid for solar power in India at auction is set to fall below last year’s record lows for the South Asia nation, driven by plummeting panel prices, falling interest rates and competition among developers seeking a slice of the country’s renewables market. Prices could dip lower than the 4.34 rupees (6 cents) a kilowatt-hour offered in ...

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• 12 January

  Non-OPEC delivers over a quarter of promised cuts so far

  

    Bloomberg Russia and Kazakhstan said they’ve met or exceeded their initial goals for trimming oil output, bringing cuts by non-OPEC nations in the first 10 days of this year to more than a quarter of the total pledged a month ago in Vienna. Russia’s oil production has shrunk by around 130,000 barrels a day in the first week of ...

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• 12 January

  Oil holds biggest gain in 6 weeks on record US refinery runs

    Bloomberg Oil held gains after advancing the most in almost six weeks as US refiners processed a record amount of crude, while OPEC and other producing nations trim output to stabilize the market. Oil has been unable to sustain its rally above $55, driven by the deal between the Organization of Petroleum Exporting Countries and 11 other nations to ...

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• 12 January

  Australia lawmaker seeks 20-fold raise in iron ore tax

  

    Bloomberg The world’s biggest mining companies producing iron ore from Australia aren’t paying their fair share in taxes, according to a lawmaker who wants a 20-fold raise in a state levy that’s been unchanged since the 1960s and the era of imperial pounds, shillings and pence. The proposal has “overwhelming” support and Rio Tinto Group and BHP Billiton Ltd.’s ...

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• 12 January

  Chinese Phonemaker Xiaomi aims to exceed $14bn sales

  

    Bloomberg Xiaomi Corp., one of China’s most valuable technology startups, is shooting for more than 100 billion yuan ($14.5 billion) of revenue in 2017, even as it pledged to slow its pace of business expansion and overhaul an online-focused retail strategy. Chief Executive Lei Jun laid out his goals for the year, which include quadrupling its store network to ...

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• 12 January

  Blackstone to vie with Warburg, Chinese Group for GLP

  

    Bloomberg Blackstone Group LP is considering an offer for Global Logistic Properties Ltd. (GLP), potentially pitting it against Warburg Pincus and a separate Chinese group in the bidding for the $8.6 billion warehouse operator, people with knowledge of the matter said. Warburg Pincus is forming a consortium to bid for the Singapore-based company and has been speaking with banks ...

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• 12 January

  Edelweiss to seek to wind up Bharati Defence under new law

    Bloomberg Edelweiss Asset Reconstruction Co., India’s largest bad loan buyer, plans to request a winding up of Bharati Defence & Infrastructure Ltd. under the country’s new bankruptcy law, according to people with knowledge of the matter. The company aims to file a petition in about a month against the Mumbai-based shipbuilder, whose shares have fallen more than 50 percent ...

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