December, 2016

• 21 December

  Libya’s Sharara oilfield resuming operations

    TRIPOLI / Reuters Operations at Libya’s southwestern Sharara oilfield were gradually resuming on Wednesday after the lifting of a two-year blockade on a pipeline leading from the field, a senior official said on Wednesday. “We started running the wells and then gradually we will start pumping to the Zawiya refinery,” the official, who works at the field, told Reuters ...

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• 21 December

  Oil extends gains as industry report shows US stockpile drop

  

    Bloomberg Oil extended its advance as industry data showed US crude stockpiles declined last week, trimming an inventory overhang. February futures rose as much as 0.9 percent in New York after climbing 0.5 percent on Tuesday. Crude inventories dropped by 4.15 million barrels, the American Petroleum Institute was said to report. That compares with a forecast 2.5 million-barrel decrease ...

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• 21 December

  Australian property market shows signs of cooling

  

    Bloomberg Offshore hedge fund managers and priced-out young Australians have long argued the pace of house price growth in the nation’s biggest cities is unsustainable. They may finally be right. After two years of double-digit growth, the Sydney house price index gained just 3.2 percent in the year to September, the weakest increase since 2012, according to the latest ...

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• 21 December

  Japan Display secures $637mn infusion from govt-backed fund

    Bloomberg Japan Display Inc., a struggling Japanese maker of smartphone screens, agreed to a 75 billion yen ($637 million) injection of cash from a government-backed fund. The supplier to Apple Inc. will issue 45 billion yen of convertible debt to Innovation Network Corp. of Japan, already its largest shareholder, Japan Display said in a statement in Tokyo on Wednesday. ...

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• 21 December

  Brookfield buys Reliance mobile tower biz for $1.6bn

  

    Mumbai / AFP Indian internet and telecoms company Reliance Communications said on Wednesday it had agreed to sell its mobile phone tower business to Canadian asset management giant Brookfield for $1.6 billion. Reliance Communications said the deal represented the largest investment by a foreign investor in Indian infrastructure and comes as Brookfield seeks to capitalise on liquidity constraints at ...

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• 21 December

  Mistry wants Tata barred from board meetings

  

    Bloomberg Cyrus Mistry, the ousted chairman of Tata Sons Ltd., wants an Indian court to restrain the family scion from attending board meetings, according to a filing made by the executive against his abrupt dismissal from the post. Mistry also asked the National Company Law Tribunal to appoint an administrator to manage Tata Sons, according to the filing seen ...

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• 21 December

  China demands emission cuts as year’s worst smog chokes Beijing

  

    Bloomberg China called for better coordination to cut emissions after a sixth day of heavy smog engulfed much of the northern part of the country and spurred the year’s highest alert. With the toxic haze shrouding the capital Beijing, coastal Tianjin, and surrounding Hebei province, the environmental protection ministry called for cities to coordinate anti-emission measures such as halting ...

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• 21 December

  Beijing’s worst smog prompts 351 flight cancellations in 2016

  

    Bloomberg Beijing and other regions of north China were blanketed by the year’s worst bout of noxious smog, prompting officials to cancel 351 flight departures from the capital’s airport because of limited visibility. The concentration of PM2.5 — the particles that pose the greatest health risks — was 402 micrograms per cubic meter near Tiananmen Square at 5 p.m. ...

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• 21 December

  Southwest website fails, thwarting booking, check-in

  

    Bloomberg Southwest Airlines Co.’s website failed, blocking access to booking and flight check-in tools in a busy holiday travel week. The carrier said it was making progress in fixing the disruption and was getting reports of successful transactions and online check-in attempts around 5:45 p.m. New York time. The failure affected all customers but didn’t have any impact on ...

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• 21 December

  Nigeria’s Arik resumes flights after truce with unions

    Lagos / AFP Nigeria’s Arik airline has resumed flights following a deal to end a one-day strike that paralysed its operation, the company said on Wednesday. Aviation unions called the strike on Tuesday to protest non-payment of seven months of salaries to Arik workers, non-remittance of taxes and the sacking of five union leaders. Thousands of local and foreign ...

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