SEOUL / AP North Korea executed five senior security officials with anti-aircraft guns because they made false reports that “enraged†leader Kim Jong Un, South Korea’s spy agency said on Monday. The comments by the National Intelligence Service in a private briefing to lawmakers come as Malaysia investigates the poisoning death of Kim’s estranged elder half brother, Kim Jong ...
Read More »US stocks fluctuate, dollar retreats before Trump policy speech
Bloomberg US stocks fluctuated near all-time highs, while the dollar and Treasuries retreated as investors awaited clues on President Donald Trump’s spending priorities. Politics set the tone in Europe, with the pound retreating and French bonds gaining. The Dow Jones Industrial Average looked to add to its longest rally since 1992, while 10-year Treasury yields climbed for the first ...
Read More »Gulf falls on profit-taking; Egypt down on Q4 results
DUBAI / Reuters Profit-taking dragged stock markets in the Middle East down on Monday, with Egypt lagging after some quarterly earnings failed to inspire. Saudi Arabia’s index lost 1.1 percent to 6,969 points, heading back down towards technical support at the mid-February low of 6,942 points. A little under nine-tenths of traded shares declined and trading volume was above ...
Read More »Investors see oil break out of narrow range with record bets
Bloomberg Oil has been bound to the tightest price range in more than a decade, and yet hedge funds have never been so confident it will eventually rally. Money managers boosted their bets on rising West Texas Intermediate prices to a record on speculation that the Organization of Petroleum Exporting Countries and its partners will manage to ease a ...
Read More »Qatar Petroleum to merge chemical units in cost-cutting drive
Bloomberg Qatar Petroleum plans to merge two petrochemical units in its latest consolidation of businesses, as the world’s fourth-biggest oil and natural gas producer seeks to trim costs in its domestic operations and expand internationally. The state-run company will fold the operations of Qatar Vinyl Co., part of Mesaieed Petrochemical Holding Co., into Qatar Petrochemical Co., a unit of ...
Read More »India to transfer $4.4bn HPCL stake to ONGC
Bloomberg India’s central government will transfer its stake in state-run refiner Hindustan Petroleum Corp. to the country’s biggest oil explorer as part of its plans to create an integrated oil company, The Economic Times newspaper reported, citing people it didn’t identify. The government of Prime Minister Narendra Modi will issue a proposal for approval by the country’s cabinet to ...
Read More »Lukoil’s Mideast head sees oil at $55-$65 a barrel
Bloomberg Oil will stabilize around $55 to $65 a barrel as OPEC fulfills its agreement to cut output, with stockpiles and shale production keeping prices from rising much more, the Middle East head of Lukoil PJSC said. Russia’s second-largest oil producer hasn’t had to reduce production in Iraq as a result of the curbs pledged by OPEC, Gati Al-Jebouri ...
Read More »Saudi seeks ways to boost 4% foreign stock ownership
Bloomberg Saudi Arabia is seeking ways to boost foreign investment in its bourse, almost two years after easing access to the one of the world’s most restricted exchanges. The Tadawul, as the market is known, will hold talks with companies already trading on other Gulf Cooperation Council exchanges for a cross-listing in the kingdom by 2018, Chief Executive Officer ...
Read More »India identities at risk as Modi widens digital reach
Bloomberg Shivam Shankar Singh woke last month to an e-mail from an Indian government department. It had a name, address, mobile phone number and bank account with a code for money transfers and investments made in a dairy farm. None of the details were his. The e-mail contained details submitted to a program that collects personal and biometric data, ...
Read More »Asia economies hold trade pact talks after Trump dumps TPP
Bloomberg Negotiators from 16 Asian countries are meeting in the Japanese port city of Kobe this week for talks on a regional trade pact seen as a rival to the Trans-Pacific Partnership rejected by US President Donald Trump. China is not part of the TPP but is playing a leading role in the Regional Comprehensive Economic Partnership, or RCEP, ...
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