November, 2016

• 10 November

  Zain Group expects to finalise Saudi Arabia tower sale in first half of 2017

  

    Reuters Kuwaiti telecoms group Zain expects to sell its mobile transmitter towers in Saudi Arabia for more than $500 million in the first half of 2017, its chief executive said. Zain, which operates in eight countries in the Middle East and Africa, has been exploring the sale of its towers in some of its markets since as early as ...

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• 10 November

  Iraq postpones upstream bidding round to mid ’17

    Reuters Iraq’s oil ministry is postponing a bidding round for 12 small and medium-sized oil fields across three provinces from Nov. 30 to the middle of next year, the ministry said on its website on Thursday. The ministry’s statement said there are “essential changes” to the previous announcement, including plans for the oil ministry to develop some of the ...

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• 10 November

  Oil falls as focus returns to OPEC after Trump election surprise

  

    Bloomberg Oil fell as the market’s focus shifted from the shock of Donald Trump’s U.S. presidential election victory to questions about OPEC’s ability to rebalance crude supply and demand. Crude futures declined as much as 1.9 percent in New York, erasing earlier gains after the International Energy Agency said prices may retreat amid “ relentless global supply growth” unless ...

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• 10 November

  FB & Twitter contend with their role in Trump’s victory

  

    Bloomberg America just endured its first presidential election in which the majority of the electorate got its news from social media. And the outcome is already prompting soul searching by the companies that shaped it. Facebook Inc. will have to contend with mounting dissatisfaction over its role as the most widely used news filter in history. Forty-four percent of ...

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• 10 November

  Alibaba’s US growth ambitions at risk

    Bloomberg Chinese internet companies face a new reality after Donald Trump’s surprise victory as US president-elect — and Alibaba Group Holding Ltd. has the most to lose. On the campaign trail, Trump promised to upend global trade, saying that China is “killing us” on trade policy and proposing tariffs on Chinese goods of as much as 45 percent. If ...

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• 10 November

  Volkswagen accused of concealing emissions cheating in Audi gas cars

  

    Bloomberg Volkswagen AG’s plot to cheat emissions tests by installing so-called defeat devices in its vehicles wasn’t limited to diesel cars, but also included at least six models of Audi 3.0-liter gasoline engines, according to a consumer lawsuit. In a class action on behalf of owners of more than 100,000 vehicles, the German carmaker’s Audi unit was accused of ...

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• 10 November

  Rubik’s cube cracked as EU court strips away its trademark

    Bloomberg You might not be able to solve Rubik’s cube, but now you can make one. The multicolored puzzle that’s kept small and big hands busy since the 1970s lost the final round in a fight to hold on to a European Union trademark protection. EU trademark law seeks to prevent a company getting “a monopoly on technical solutions ...

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• 10 November

  UK adds housing as it continues overhaul of inflation measures

  Bloomberg The UK’s chief statistician said a measure of inflation including housing will become the favored gauge of consumer prices from March. CPIH — the consumer prices index including owner-occupiers’ housing costs — will be the “preferred measure” of inflation for the Office for National Statistics. Switching to the new index will address several flaws and limitations in alternative price ...

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• 10 November

  Egypt surges in record volume on signs of dollar inflows

  

    Reuters Egyptian stocks jumped in record volumes on Thursday, driven by signs that hard currency was flowing into the country after last week’s pound devaluation, while Saudi Arabia’s index extended recent gains. Egypt’s blue chip index surged 4.5 percent, bringing its gains since the currency was floated last Thursday to 25 percent. The broader EGX 100 index was up ...

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• 10 November

  Stock markets extend global rally on Trump hopes

    London / AFP World stock markets rallied further on Thursday, with Tokyo surging almost seven percent, on hopes Donald Trump’s plan to kickstart the US economy will succeed following his shock presidential election victory. The dollar firmed after sliding Wednesday on worries that uncertainty over Trump’s policies would cause the Federal Reserve to hold off an interest rate rise. ...

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