December, 2016

• 7 December

  Shell signs initial Iran oil and gas deals

  

    Reuters Royal Dutch Shell signed a provisional agreement on Wednesday to develop Iranian oil and gas fields, an Iranian official said, the first deal by the world’s second biggest listed oil firm in Iran since sanctions were lifted. The Anglo-Dutch company confirmed it had signed a memorandum of understanding with National Iranian Oil Company (NIOC) on Wednesday “to further ...

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• 7 December

  Oil trades near $51 after slumping Shale comeback signs

  

    Bloomberg Oil traded near $51 a barrel amid speculation a production boost from U.S. shale producers will counter the first output cuts from OPEC in eight years. Futures fell 0.2 percent in New York after falling 1.7 percent on Tuesday, the first drop in five days. The Energy Information Administration increased its U.S. oil output forecast for this year ...

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• 7 December

  Saudi Aramco, Japan extend Okinawa crude storage deal

    Reuters State-run Japan Oil, Gas and Metals National Corp (JOGMEC) said it signed a contract with the world’s top exporter Saudi Aramco on Wednesday to extend a crude oil storage deal on the island of Okinawa by three years. Under the agreement, Saudi Aramco can store up to 1 million kilolitres (6.3 million barrels) of crude oil on the ...

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• 7 December

  Aussie economy shrinks as spending falls

  

    Sydney / AFP Australia’s economy contracted for just the fourth quarter in 25 years, official data showed on Wednesday, slowing the annual growth rate to 1.8 percent amid weaker government and consumer spending on top of softer trade figures. The Australian Bureau of Statistics reported a 0.5 percent contraction for the September quarter. It was the weakest figure in ...

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• 7 December

  India’s indebted power retailers scare off investors

  

    Bloomberg India’s money-losing state power retailers may be scaring off power plant investors, according to Sembcorp Industries Ltd., compounding the industry’s woes that have left about 20 percent of the country without electricity. Delayed payments by the distributors and their reluctance to sign long-term purchase contracts are risks for investors, said Vipul Tuli, chief executive officer at the Singapore-based ...

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• 7 December

  India investment appeal for Japan may dim on Docomo dispute

  

    Bloomberg India will risk jeopardizing billions of dollars of investment by Japanese companies if it does not implement an arbitration award favoring NTT Docomo Inc. in its spat with the Tata Group, a senior Japanese government official said. A decision to double investment to 3.5 trillion yen ($31 billion) in India hinges on a quick settlement of the award, ...

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• 7 December

  Hong Kong faces housing risks as Fed tightening looms: IMF

  

    Bloomberg Stretched property valuations mean Hong Kong’s economy is vulnerable if interest rates rise faster than expected, the International Monetary Fund said. In its annual assessment of the Asian financial hub, the IMF identified three main risks — rising interest rates and potential global market volatility, China-linked stress, and a possible downturn in the property market. With the US ...

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• 7 December

  Samsung prevails over Apple in $399 million patent appeal

  

    Washington / AFP The US Supreme Court overturned a $399 million patent infringement penalty imposed on Samsung for copying Apple’s iPhone design, in a case watched for its implications for technology innovation. The shorthanded justices ruled 8-0 that Samsung should not be required to forfeit the entire profits from its smartphones for infringement on design components, sending the case ...

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• 7 December

  High-jumping robot may aid in house collapse, quakes

  

    Miami / AFP An agile jumping robot that was inspired by some of the animal world’s best leapers could one day help in rescue efforts after earthquakes or building collapses, US scientists said. Known as Salto, the 10-inch (26-centimeter) tall robot can jump higher than a bullfrog and almost as high as a galago, or bush baby, a small ...

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• 7 December

  Apple blames external damage for iPhones explosions

  

    Bloomberg Apple has blamed “external physical damage” for causing a handful of iPhones to explode or catch fire in China and insisted that its handsets posed no safety problem. Fresh on the heels of Samsung’s worldwide Galaxy Note 7 safety fiasco, a Shanghai consumer watchdog said it had received eight recent reports of iPhones that spontaneously combusted while being ...

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