August, 2016

• 7 August

  Thousands march for Turkish democracy

  

    Istanbul / AFP Hundreds of thousands of people gathered in Istanbul on Sunday for a pro-democracy rally organised by the ruling party, bringing to an end three weeks of demonstrations in support of President Recep Tayyip Erdogan after last month’s failed coup. Followers of Erdogan’s Justice and Development Party (AKP) have taken to the streets every night since the ...

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• 7 August

  Egypt’s Suez Canal revenues up to $3.183bn

  

    AGENCIES Revenue from Egypt’s Suez Canal reached $3.183 billion in the period between January 1 and August 6, up 4 percent from $3.059 billion in the same period last year, the Suez Canal Authority Chairman said. Mohab Mameesh, who was speaking at a one-year anniversary celebration of the opening of an expansion to the canal, said the canal’s revenues ...

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• 7 August

  Louisiana leaders blame Big Oil for coastal ruin

  

    AP The oil industry has left a big footprint along the Gulf Coast, where a Delaware-sized stretch of Louisiana has disappeared. But few politicians would blame Big Oil for ecosystem abuse in a state where the industry employs up to 300,000 people and injects $73 billion into the economy. Following the lead of Gov. John Bel Edwards, Louisiana political ...

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• 7 August

  Deal to bring electricity to Navajo Nation

  

    AP More than 1,000 Navajos who live without electricity in their homes soon could get power for the first time as the tribal utility buys a system of rural Utah substations and electrical lines under the terms of a decades-old deal with a power company. Across the 27,000 square-mile Navajo Nation, an estimated 15,000 people live off the grid ...

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• 7 August

  Four-month hangover from Singapore fuel oil party ends

  

    Reuters Singapore’s long hangover from a near-record fuel oil trading binge in March is ending as tonnage traded that month and held offshore moves into landed tanks, signalling a tighter market in the world’s biggest trading hub for the shipping fuel. The excess floating storage taken up in March is now virtually empty. With fuel oil supplies coming into ...

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• 7 August

  Apple buys AI startup Turi for $200 million

  

    Bloomberg Apple Inc. acquired artificial intelligence startup Turi Inc. for about $200 million, according to people familiar with the situation, in the latest deal by the iPhone maker to accumulate advanced computing capabilities for its products and services. Turi helps developers create and manage software and services that use a form of AI called machine learning. It also has ...

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• 7 August

  UK mulls directly paying Britons affected by fracking

  

    London / Bloomberg Britons living close to fracking wells could be paid some of the proceeds under proposals being considered by the UK government. Prime Minister Theresa May has added an option to proposals to be consulted on this week that money from the fund set up to compensate areas hosting shale gas extraction sites be paid directly to ...

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• 7 August

  Tesla to roll out driverless trucks within decade

  

    California / Bloomberg The chief executive officer of the Nordic region’s biggest road transport company predicts the trucks he relies on can start operating without drivers within the next 5-10 years. Jens Bjoern Andersen, who drives a Tesla to work every day, giving him a first-hand view of how the technology is advancing, says the know how is already ...

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• 7 August

  Argentina’s $8bn tax-amnesty bonds

    Buenos Aires / Bloomberg Argentina plans to sell as much as $8 billion in bonds that pay little to no interest as one of the options available for tax evaders seeking to repatriate money held abroad. Argentina will offer as much as $3 billion of three-year bonds that pay no interest and $5 billion of notes due in 2023 ...

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• 7 August

  Philippines slaps $21.3mn fine on Rizal Bank for heist

  

    Bloomberg The Philippine central bank has slapped a 1 billion-peso ($21.3 million) penalty on Rizal Commercial Banking Corp. for violations of banking rules in connection with the $81 million theft of Bangladesh Bank reserves. The amount is the largest fine meted out to a lender by the Bangko Sentral ng Pilipinas, it said, without detailing the violations committed by ...

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