January, 2017

• 3 January

  Gulf energy firms reduce borrowing 26% as oil prices surge

  

    Bloomberg Energy companies in the Middle East reduced their borrowing by 26 percent in 2016 as an increase in oil prices late in the year provided revenue needed for exploration and production. Bonds and loans issued by energy producers in the six-nation Gulf Cooperation Council declined 26 percent to $17.5 billion from a record $23.7 billion in 2015, data ...

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• 3 January

  Iran qualifies CNPC to Total for bidding on crude, natural gas projects

  

    Bloomberg Iran qualified 29 international oil companies to bid in upcoming tenders for crude and natural gas development projects as the Persian Gulf state seeks investment in energy. China National Petroleum Corp., Royal Dutch Shell Plc and Total SA are among the companies that will be invited to bid in tenders, according to a list published on the website ...

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• 3 January

  Walmex, Liverpool sales may flag as Mexico raises gasoline price

  

    Bloomberg Mexican consumer companies from Wal-Mart de Mexico SAB to El Puerto de Liverpool SAB may see sales flag when the country raises gasoline prices by as much as 20 percent in January. Retailers may be the most affected by the jump in prices, which risks eroding consumer sentiment and purchasing power amid a weakening peso that has already ...

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• 3 January

  Oil climbs to 18-month high as Kuwait, Oman fulfill OPEC cuts

  

    Bloomberg Oil climbed to an 18-month high in New York as output cuts by Kuwait and Oman signaled OPEC and its partners are delivering on their agreement to stabilize the market. Futures rose as much as 2.8 percent after adding 45 percent last year, the biggest annual gain since 2009. Officials from Oman and Kuwait told local media they’re ...

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• 3 January

  Singapore GDP growth surges to three-year high

  

    Bloomberg Singapore’s economic growth quickened to the fastest pace in more than three years last quarter as manufacturing and services rebounded. Gross domestic product rose an annualized 9.1 percent in the three months to December from the previous quarter, when it declined a revised 1.9 percent, the trade ministry said in a statement on Tuesday. The median estimate of ...

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• 3 January

  Infosys, Wipro leaders warn of challenging times for Indian IT

  

    Bloomberg The leaders of two of India’s largest technology services companies, Infosys Ltd. and Wipro Ltd., have warned employees that their industry faced a grave threat from rising political and economic conflict around the world. Employees need to innovate and bring out their best to survive, Infosys Chief Executive Officer Vishal Sikka said in a year-end note to staff. ...

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• 3 January

  Australian house prices rise most in 7 years on low rates

  

    Bloomberg Australian house values increased at the fastest pace in seven years in 2016, as record-low interest rates helped fuel demand for property despite warnings such price increases may be unsustainable. The average dwelling value in the nation’s eight state and mainland territory capitals rose 10.9 percent last year, compared to 7.8 percent in 2015, data from CoreLogic Inc. ...

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• 3 January

  China’s factories, services cap year of gains as prices move upwards

  

    Bloomberg China’s factories and services both closed out 2016 on relatively robust notes that signal growth is strong enough for policy makers to keep pushing for economic reforms in 2017. The manufacturing purchasing managers index stabilized near a post-2012 high in December, edging down to 51.4 from 51.7 the prior month. The non-manufacturing PMI slipped to 54.5 from a ...

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• 3 January

  China eases 2,000-year-old monopoly on its salt sector

    Bloomberg China has started an overhaul of its salt industry, easing a monopoly that has existed in some form for more than 2,000 years and predates the Great Wall. New regulations went into effect at the start of this year. Under a plan published by China’s State Council last year, government regulators will allow private companies to enter the ...

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• 3 January

  German inflation jumps to fastest since ‘13 on oil prices

  

    Bloomberg The pace of German inflation more than doubled in December, driven by a surge in oil that is set to mask continued weakness in underlying price pressures in the months ahead. Consumer prices rose 1.7 percent from a year ago, recording the biggest jump on record, the Federal Statistics Office in Wiesbaden said on Tuesday. Economists surveyed by ...

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