Saturday , January 20 2018

Business

Saudi’s Naimi says sees oil demand improving – OPEC strategy working — analysts

RABAT, Oct 16, (RTRS): Saudi Oil Minister Ali al-Naimi said on Thursday he saw signs of global oil demand improving despite the economic slowdown in China and that the market’s supply/demand balance would shortly move more into line. Oil prices have almost halved in the past year because of excess …

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China, Indonesia sign high-speed rail deal-Beijing beat Tokyo to win $5.5 bln project

JAKARTA, Oct 16, (Agencies): Chinese and Indonesian state-owned companies Friday signed a $5.5 billion deal to build the first high-speed railway in Southeast Asia’s top economy, after Beijing beat Tokyo to win the construction project. The line will connect the Indonesian capital Jakarta with the mountain-fringed city of Bandung, some …

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US factory output drops 0.1 pct in Sept – Budget gap shrinks

WASHINGTON, Oct 16, (AP): US manufacturing production fell for the second straight month in September as factories cranked out fewer appliances, computers, and electronics. Factory output declined 0.1 percent, the Federal Reserve said Friday, following a drop of 0.4 percent in August. Manufacturers also cut back on production of steel …

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India drug industry TPP deal will raise prices – New Delhi not part of agreement but sells to deal nations

NEW DELHI, Oct 16, (RTRS): Leaders of India’s $15 billion pharmaceuticals industry, a major supplier of affordable generics to the world, have joined public health activists in criticising a new US-led trade deal they say will delay the arrival of new cheap drugs. The impact of the Trans-Pacific Partnership (TPP) …

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Kuwait Jazeera Airways says considering long-haul flights – Carrier hopes to synergize with KAC

DUBAI, Oct 14:  Jazeera Airways may launch long-haul flights if it’s not able to buy a controlling stake in Kuwait Airways, chief financial officer Donald Hubbard told Gulf News on Tuesday. Jazeera Airways, the Kuwait-based low-cost hybrid airline, expressed interest in May this year in acquiring a 35 per cent …

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Cheap oil offers no respite for rising Saudi ‘interbank’ rates – Banks can cope with bond issues for at least another year

DUBAI, Oct 14, (RTRS): Saudi Arabian money rates have entered a long-term uptrend that may end only when oil prices recover, bankers say, as the money market becomes one of the conduits through which cheap oil affects every corner of the economy. So far, most stock market investors and ordinary …

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Weak US retail sales, inflation data cast doubt on Fed rate hike – Inventories flat

WASHINGTON, Oct 14, (RTRS): US retail sales barely rose in September and producer prices recorded their biggest decline in eight years, raising further doubts about whether the Federal Reserve will raise interest rates this year. The weak reports on Wednesday were the latest suggestion that the economy was losing momentum …

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India named top investment destination in business survey – China ranked 2nd

NEW DELHI, Oct 14, (AFP): India has been named the most attractive country for investment in a survey of more than 500 global investors published by accounting firm EY (Ernst & Young) on Wednesday. Thirty-two percent of the 505 executives questioned said India was their favoured market for investment, with …

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Toyota sets high environmental target – Automaker aims to eliminate gasoline cars by 2050

TOKYO, Oct 14, (AP): Toyota, under ambitious environmental targets, is aiming to sell hardly any regular gasoline vehicles by 2050, only hybrids and fuel cells, to radically reduce emissions. The automaker promised to involve governments, affiliated companies and other “stakeholders” in its push to reduce average emissions from Toyota cars …

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Kuwait signs $13bn contract for new refinery

  KUWAIT CITY, Oct 13, (AFP): The Kuwait National Petroleum Company (KNPC) Tuesday signed contracts worth $13.2 billion (11.6 billion euros) with international firms to build a refinery said to be the Gulf state’s largest development project. The deal comes as Kuwait, a key oil producer, moves to modernise its …

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