September, 2016

• 5 September

  Saudi, Russia vow oil coop but not freeze

  

    Bloomberg The world’s top two crude-oil producers pledged to cooperate to stabilize global markets, while failing to announce any specific measures to bolster prices. “We have a number of tools at our disposal for joint actions,” Russian Energy Minister Alexander Novak said Monday following a meeting with his Saudi counterpart Khalid Al-Falih at the G20 summit in China. Russia ...

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• 5 September

  Iran ready to pump more as OPEC faces ‘prisoner’s dilemma’

  

    Bloomberg As speculation swirls over whether oil producers will reach a deal to coordinate output and aid a recovery in prices, Iran says it’s ready to pump more. The OPEC member can raise production to 4 million barrels a day in two to three months from the current daily level of about 3.8 million, Mohsen Ghamsari, director of international ...

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• 5 September

  Israeli trains resume operation after shutdown by government

    Bloomberg A power struggle between Prime Minister Benjamin Netanyahu and a senior minister in his Likud party shut down the train line linking two of Israel’s biggest cities for a day, snarling commuters in miles-long traffic jams and bringing hundreds of demonstrators into the streets before service was restarted. Thousands of Israelis starting their work weeks and soldiers returning ...

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• 5 September

  More affordable housing need of the hour in Riyadh

  

    Emirates Business Chestertons KSA has released its Q2 2016 report for Riyadh, the first ever analysis of the Saudi capital by the leading property consultant. The report highlights that there is increasing demand for affordable housing, as Riyadh’s population growth continues to outstrip property market supply. The Riyadh Real Estate Market Overview for Q2, 2016, points out that Riyadh’s ...

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• 5 September

  China carmakers vouch for foreign ownership cap

  

    Bloomberg China should keep the 50 percent cap on foreign ownership in local passenger-vehicle joint ventures for at least another five to eight years to ensure Chinese carmakers are ready for full-fledged competition, according to the state-backed auto association. The government can consider lifting the limit on different parts of the automotive industry according to their maturity, starting with ...

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• 5 September

  Tencent China’s top firm in private economy win

  

    Bloomberg Tencent Holdings Ltd. has surpassed China Mobile Ltd. to become the country’s most valuable corporation, underscoring the growing importance of a vibrant private economy over lumbering state-owned enterprise. Tencent rose 4.2 percent to HK$210.20 in Hong Kong on Monday, reaching a market value of HK$1.99 trillion ($256.6 billion) and joining the ranks of the world’s 10 largest public ...

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• 5 September

  Japan’s higher base wages in July likely little relief to BOJ

    Bloomberg The first increase in base wages in four months is unlikely to offer much relief to the Bank of Japan as it undertakes a review of policies meant to stoke inflation and growth. Average monthly base pay, excluding overtime and bonuses, rose 0.4 percent in July from a year earlier to 241,518 yen ($2,326), the labor ministry said ...

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• 5 September

  Hanjin Shipping to seek asset stay orders in 43 nations

  

    Bloomberg South Korea’s financial regulator said Hanjin Shipping Co. will seek stay orders in 43 countries to protect its vessels from being seized, after its court receivership filing last week roiled companies’ supply chain before the year-end shopping season. Applications in 10 countries will be made this week and the remainder soon, the Financial Supervisory Commission said in a ...

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• 5 September

  Android makers strive to stand out

  

    NEW YORK / AP It’s getting rarer for phone launches to generate excitement these days — especially in the Android world, where all models use the same underlying Google software. Every year, phones get routine refreshes such as faster processors, better cameras and longer battery life. But Android phone makers haven’t given up trying to stand out. Samsung, for ...

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• 5 September

  New plastic clothing material could keep people cool

  

    Washington / AFP American researchers have created a low-cost textile made of a plastic base that could cool the body when woven into clothing. The engineers suggested in the US journal Science that the textile could become a way to keep people living in hot climates cool without using air conditioning. “If you can cool the person rather than ...

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