August, 2016

• 30 August

  Iraq blacklists tankers involved in shipping Kurdish crude

    Reuters Iraqi state oil firm SOMO has blacklisted three tankers involved in shipping crude from Kurdistan, stepping up pressure on the semi-autonomous region amid tense talks on sharing oil revenue. Kurdistan has been exporting crude independently via Turkey since mid-2015 after saying Baghdad had failed to respect an oil revenue-sharing deal and transfer enough money to Erbil. Baghdad, which ...

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• 30 August

  Saudi Tasnee to agree terms on $1.6bn debt

    Bloomberg Saudi Arabia’s National Industrialization Co., known as Tasnee, agreed terms with lenders to refinance around 6 billion riyals ($1.6 billion) of debt at its titanium unit after a slump in commodity prices, according to people with knowledge of the matter. The new debt will have a duration of three years — with the option to extend to five ...

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• 30 August

  Deals freeze up in Australia’s lucrative office markets

  

    Bloomberg Dealmaking in Australia’s office market has plunged by the most since the global financial crisis as owners hang on to assets that are among the highest-yielding in the region. Commercial property transactions in Australia fell 57 percent to $7.5 billion in the six months ended June 30 from a year earlier, according to Real Capital Analytics, Inc. That’s ...

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• 30 August

  China’s soybean imports rebound

  

    Bloomberg China’s soybean imports are likely to rebound in the fourth quarter as seasonal demand rises and processors in the world’s biggest buyer look to replenish supplies after lower-than-expected sales from state stockpiles, according to industry analysts. Sales from state reserves have totaled just 1.1 million metric tons, compared with expectations for 3 million to 4 million tons, said ...

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• 30 August

  India urges power producers to seek opportunities overseas

  

    Bloomberg India is urging its power producers to look overseas for new markets as fewer new plants are needed at home amid surplus generation capacity. The Indian government is encouraging state-run power producers to build plants overseas, Coal and Power Minister Piyush Goyal said in an interview Saturday. The country is projected to report surplus power supply for the ...

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• 30 August

  India’s HPCL to boost oil refining margins

    Bloomberg India’s fastest-growing fuel seller will spend $8 billion over the next five years to help its 60-year-old refineries earn profit margins closer to modern processors such as billionaire Mukesh Ambani’s Reliance Industries Ltd. “You can definitely expect $2 to $3 addition to the refining margin,” Mukesh Kumar Surana, chairman and managing director at Hindustan Petroleum Corp., said in ...

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• 30 August

  China grapples with a hidden underemployment

  

    Bloomberg Cracks are starting to show in China’s labour market as struggling industrial firms leave millions of workers in flux. While official jobless numbers haven’t budged, the underemployment rate has jumped to more than 5 percent from near zero in 2010, according to Bai Peiwei, an economics professor at Xiamen University. Bai estimates the rate may be 10 percent ...

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• 30 August

  Trends to watch out for at IFA Berlin

  

    Dubai / Emirates Business As the world’s leading trade show for consumer electronics, IFA 2016 will be a platform for forward-looking technology brands to showcase their innovations from September 2 to 7. Ahead of the much sought-after show by technology tastemakers and influencers, LG sheds light on the various consumer trends that will be reflected at the show. While ...

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• 30 August

  Apple sends invitations for Sept 7 product event

  

    Bloomberg Apple Inc. invited journalists to an event in San Francisco on Sept. 7 where the world’s most valuable public company is expected to roll out a series of product upgrades. The invitation showed out-of-focus multicolored lights against a black background. The company is expected to introduce next-generation versions of the iPhone and Apple Watch at the event. The ...

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• 30 August

  UK provider EE to gift Apple music to new subscribers

    Bloomberg EE, the mobile division of telecoms provider BT Group Plc, said it would offer free subscriptions to Apple’s streaming music product, Apple Music, to fend off rivals vying for customers in the U.K.’s crowded mobile marketplace. New EE post-paid contracts and renewals will come with six free months of Apple Music starting Sept. 1, Marc Allera, EE’s CEO, ...

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