News Wire

Nigeria hopes oil supply cut deal would be extended -minister

19/05 Nigeria's oil minister said on Sunday he hoped the supply cut agreement between OPEC and non-OPEC members would be extended until year-end.  Full story

London office building at post Brexit referendum high - Deloitte

01h01 New office building in central London is at a three-year high, with 13.2 million square feet of space under construction, up 12% on the figure six months ago, Deloitte Real Estate's London Office Crane. . .  Full story

Global dividends hit record in first quarter as companies shake off macro worries

01h01 Companies around the world paid out a record amount of dividends in the first quarter, data showed on Monday, as they shrugged off worries about slowing economic and earnings growth.. . .  Full story

-China's central bank won't let yuan weaken past 7 to the dollar-sources

01h00 China's central bank will use foreign exchange intervention and monetary policy tools to stop the yuan weakening past the key 7-per-dollar level in the near-term, three people familiar with the central bank's thinking said.. . .  Full story

China's scrap metal imports to slump as new rules leave firms confused

01h00 China's scrap metal importers expect disruptions in shipments to start this month because of uncertainty surrounding new scrap restrictions starting in July, depriving the world's biggest copper consumer of a crucial source of the metal.. . .  Full story

Australia dollar gets brief fillip from election surprise

00h52 The Australian dollar firmed on Monday in the wake of a surprise election victory by the country's conservative government, though the gains were quickly pared in the face of Sino-U.S. trade tensions and bets. . .  Full story

Australia's shock election shows killing coal mining is no sure thing: Russell

00h42 While Australia's opposition Labor Party is the obvious loser from the weekend election, the anti-coal environmental lobby suffered probably a bigger blow and will need to re-think its strategy to end mining of the polluting. . .  Full story

Trump, Saudi Arabia warn Iraq against Middle East conflict

00h39 U.S. President Donald Trump issued a new threat to Tehran on Sunday, tweeting that a conflict would be the "official end" of Iran, as Saudi Arabia warned it stood ready to respond with "all. . .  Full story

Australia shares set to open higher bolstered by election results, NZ flat

00h15 Australian shares are expected to edge higher on Monday, with investors cheering the surprise election victory of the Liberal-led conservative party coalition as partial results announced on Sunday pointed at incumbent government heading close to. . .  Full story

ANALYSIS-In coal we trust: Australia's voters back PM Morrison's faith in fossil fuel

00h00 Australia's re-elected Prime Minister Scott Morrison once brandished a lump of coal in parliament, crying, "This is coal - don't be afraid!" His surprise win in what some dubbed the 'climate election' may have stunned. . .  Full story

Australian dollar jumps on surprise Liberal election victory

19/05 The Australian dollar jumped on Monday as markets responded to the surprise election victory of the country's conservative government in a national poll held over the weekend.. . .  Full story

May's new Brexit offer retains N. Irish backstop, nothing new on customs -paper

19/05 British Prime Minister Theresa May's new Brexit offer to UK lawmakers retains the Northern Irish backstop and does not add anything new on customs arrangements, The Telegraph newspaper reported late on Sunday.. . .  Full story

U.S. to encourage investment in Palestinians as first part of peace plan

19/05 The White House will unveil the first part of President Donald Trump's long-awaited Israeli-Palestinian peace plan when it holds an international conference in Bahrain in late June to encourage investment in the West Bank and. . .  Full story

Saudi Arabia says it seeks to avert war, ball in Iran's court

19/05 Saudi Arabia said on Sunday it wanted to avert war in the region but stood ready to respond with "all strength" following last week's attacks on Saudi oil assets, telling Iran that the ball. . .  Full story

Saudi Arabia says oil producers want to reduce inventories

19/05 Saudi Energy Minister Khalid al-Falih said on Sunday there was consensus among OPEC and allied oil producers to drive down crude inventories "gently" but his country would remain responsive to the needs of what he. . .  Full story

Bank staff flagged Trump, Kushner transactions for watchdog -NYTimes

19/05 Anti-money laundering specialists at Deutsche Bank AG recommended in 2016 and 2017 that multiple transactions involving entities controlled by President Donald Trump and his son-in-law, Jared Kushner, be reported to a federal financial-crimes watchdog, the New. . .  Full story

OPEC+ will not recommend a course of action on output policy in Jeddah meeting - source

19/05 A ministerial panel of major OPEC and non-OPEC producers will not recommend a course of action on oil output policy on Sunday, but will highlight the need to continue monitoring the market until. . .  Full story

OPEC has two main options for June meeting, both foresee output rise - sources

19/05 Saudi Arabia and Russia are discussing two main scenarios for a meeting of OPEC and its oil-producer allies in June and both frameworks propose increased crude output from the second half of 2019, two. . .  Full story

Dubai's JAFZA in $354 million boost to economy

19/05 Dubai's government-owned Jebel Ali Free Zone (JAFZA) will return cash and bank guarantees to clients through a new initiative meant to inject 1.3 billion dirhams ($354 million) into the emirate's economy, the government's media office. . .  Full story

China investigates former head of securities regulator

19/05 The former head of China's top securities regulator has been put under investigation by the country's anti-corruption watchdog on suspicion of violating laws, the Central Commission for Discipline Inspection said on Sunday.. . .  Full story

Benetton family wants Generali to stay in Italian hands - report

19/05 The Benetton family wants Generali to remain in Italian hands and is ready to tighten its grip on Europe's third-biggest insurer along with other Italian investors, Luciano Benetton said in a newspaper interview.. . .  Full story

Exit polls cheer India's ruling party; markets set to rally

19/05 Indian equities, rupee and bonds are set to rally on Monday after almost all exit polls suggested that the Prime Minister Narendra Modi-led National Democratic Alliance (NDA) was likely to secure a clear mandate at. . .  Full story

Bahrain's Bapco completes multibillion-dollar financing

19/05 State-run Bahrain Petroleum Co (Bapco) has completed a multibillion-dollar financing aimed at expanding its refining capacity to 380,000 barrels per day (bpd) from 267,000 bpd.. . .  Full story

GCC countries begin enhanced maritime security patrols - U.S. Fifth Fleet

19/05 Countries of the Gulf Cooperation Council (GCC) began "enhanced security patrols" in the international waters of the Arabian Gulf area on Saturday, the U.S. Navy's Bahrain-based Fifth Fleet said on Sunday.. . .  Full story

Venezuela oil minister says economy, oil industry under U.S. siege

19/05 Venezuelan Oil Minister Manuel Quevedo said on Sunday his country's economy and oil industry was under economic and financial siege by the U.S. government.. . .  Full story

Swiss voters approve tax and pension overhaul

19/05 Voters in Switzerland approved on Sunday a shake-up of the corporate tax system, heading off what its finance minister had called an existential threat to the country's role as a business hub.. . .  Full story

Libya's oil and gas revenues reach $1.87 billion in April -NOC statement

19/05 Libya’s oil and gas revenues reached $1.87 billion in April, up 22% from the previous month as oil prices rose, the country's National Oil Corporation (NOC) said in statement on Sunday.. . .  Full story

Saudi energy minister says attacks put security of oil supply at risk

19/05 Saudi Arabian Energy Minister Khalid al-Falih said on Sunday that recent attacks on Saudi energy assets had put security of oil supply at risk but not affected his country's output.. . .  Full story

Saudi Arabia says deposits $250 million into Sudan's central bank -statement

19/05 Saudi Arabia said on Sunday it deposited $250 million with the Sudanese central bank, according to a statement from the kingdom's ministry of finance.. . .  Full story

Saudi energy minister says he recommends driving oil inventories down

19/05 Saudi Arabian Energy Minister Khalid al-Falih said on Sunday that he recommended driving oil inventories down and that supplies of crude were plentiful around the world.. . .  Full story

Russia's Novak: many options for oil deal, including production rise

19/05 Russian Energy Minister Alexander Novak said on Sunday that different options were available for the OPEC and non-OPEC oil output deal, including a rise in production in the second half of the year.. . .  Full story

Saudi Arabia to tax e-cigarettes and more soft drinks

19/05 Saudi Arabia has imposed a special tax on electronic cigarettes and sugary drinks, extending similar taxes introduced in 2017 as it seeks to reduce a budget deficit caused by low oil prices.. . .  Full story

Exploration at Kekra-1 well off Pakistan ends -OGDC spokesman

19/05 The consortium exploring the Kekra-1 well off the coast of Pakistan is ending drilling operations after no reserves of oil and gas were found, a spokesman for Oil and Gas Development Co Ltd, one. . .  Full story

Bahrain’s Investcorp hires Citi, JPMorgan for loan refinancing – sources

19/05 Bahrain-based alternative investment manager Investcorp has mandated Citi and JPMorgan to coordinate the refinancing of a $400 million loan, sources familiar with the matter said on Sunday.. . .  Full story

France's Le Maire says a Le Pen win in EU elections would hurt euro

19/05 A win by Marine le Pen's far-right Rassemblement National party in next week's European parliament elections could hurt the euro and damage the French economy and industries, Economy Minister Bruno Le Maire said on. . .  Full story

Belarus proposes Russia step up delivery to Naftan oil refinery - deputy PM

19/05 Belarusian Deputy Prime Minister Igor Lyashenko said on Sunday that Minsk was able to raise the volume of oil it processes and had proposed to Russia to increase its deliveries to the Naftan oil. . .  Full story

Israel stress test shows banks' stability not in danger

19/05 The stability of Israel's banking system is not in danger in the event of a local macroeconomic shock such as a housing crisis, but banks nonetheless would be significantly affected, the Bank of. . .  Full story

Wall St Week Ahead-Tariffs could lead to markdowns in retail shares

19/05 U.S. retailer stocks have moved from buoyant to bruised this year and the intensification of the U.S.-China trade war makes them especially vulnerable because consumer products would be targeted in the next round of threatened. . .  Full story

China's central bank says to keep yuan stable, in balanced range

19/05 China's central bank will maintain basic stability of the yuan exchange rate within a reasonable and balanced range, according to comments posted on its website on Sunday.. . .  Full story

Modi’s jobs deficit: J&J’s largest India plant idle 3 years after completion

19/05 It was supposed to be Johnson & Johnson's biggest manufacturing plant in India. It was to eventually employ at least 1,500 people and help bring development to a rural area near Hyderabad in southern India.. . .  Full story

In coal we trust: Australia's voters back PM Morrison's faith in fossil fuel

19/05 Australia's re-elected Prime Minister Scott Morrison once brandished a lump of coal in parliament, crying, "This is coal - don't be afraid!" His surprise win in what some dubbed the 'climate election' may have stunned. . .  Full story

Four more Chinese cities warned over pace of home price growth

19/05 China's housing regulator has urged four more cities to prevent their residential property markets from overheating in the latest sign that authorities are not about to relax their grip on the real estate business. . .  Full story

Three killed in suspected Islamic State attack outside Libyan oilfield

18/05 Two guards and a soldier were killed and four other people were kidnapped early on Saturday in a suspected Islamic State attack targeting Libya's Zella oilfield, a security source said.. . .  Full story

Huawei founder says growth "may slow, but only slightly" after U.S. restrictions

18/05 Huawei Technologies' founder and chief executive Ren Zhengfei said on Saturday the growth of the Chinese tech giant "may slow, but only slightly" due to recent U.S. restrictions.. . .  Full story

IndiGo's co-founder not intent on taking control of company - CEO

18/05 One of the co-founders of India's largest airline IndiGo has no plans of taking control of the carrier, its Chief Executive said on Saturday, two days after parent InterGlobe Aviation Ltd shares fell over a. . .  Full story

Merkel says Croatia's euro ambitions very realistic

18/05 German chancellor Angela Merkel said on Saturday Croatia was well on track to join the European common currency by 2024, citing the youngest EU member's economic development.. . .  Full story

Iran dismisses possibility of conflict, says does not want war

18/05 Iran's top diplomat dismissed the possibility of war erupting in the region at a time of escalating confrontation with the United States, saying Tehran did not want conflict and no country had the "illusion. . .  Full story

Canada vows 'full steam ahead' on ratifying trade pact after US lifts metals tariffs

18/05 Canada will move quickly to ratify the new North American trade pact, Foreign Minister Chrystia Freeland said on Saturday, a day after the United States agreed to lift tariffs on Canadian steel and aluminum.. . .  Full story

Australia's conservative government on course for "miracle" election victory

18/05 Australia's Liberal-led conservative government was headed for a remarkable win at the national election early on Sunday after uncovering a narrow path to victory that twisted through urban fringes and rural townships.. . .  Full story

Exxon evacuates foreign staff from Iraqi oilfield

18/05 Exxon Mobil has evacuated all of its foreign staff, around 60 people, from Iraq's West Qurna 1 oilfield and is flying them out to Dubai, a senior Iraqi official and three other sources told. . .  Full story

China appoints state asset chief as new market regulator

18/05 Xiao Yaqing, director of China's state-owned asset regulator, has been appointed head of the country's market regulation administration, state television reported on Saturday.. . .  Full story

Saudi's Falih says sees no oil shortage, but OPEC to act if needed

18/05 Saudi Arabia's Energy Minister Khalid al-Falih said on Saturday that he saw no oil supply shortage as global oil inventories are still rising, particularly from the United States, but OPEC will be responsive to the. . .  Full story

Russia to release first data on losses linked to contaminated oil on May 20 - RIA

18/05 A joint comission of Russian and Belarusian representatives will give the first numbers concerning losses incurred from contaminated oil on May 20, RIA news agency cited Russia's Deputy Prime Minister Dmitry Kozak as saying on. . .  Full story

Zambia's president insists on tax changes opposed by mining firms

18/05 Zambia's President Edgar Lungu said on Friday that he will go ahead with a new non-refundable sales tax in place of Value Added Tax (VAT), despite criticism from mining companies.. . .  Full story

S.Africa power utility Eskom raises $361 million through loan drawdowns

18/05 South Africa's power utility Eskom said on Friday it had raised 5.2 billion rand ($361 million) through drawdowns against a portion of committed loans, 4 billion rand of which was received. . .  Full story

IMF: Mozambique debt talks with VTB almost finalized, cyclone hits growth

18/05 Mozambique's restructuring discussions with Russian lender VTB over a loan to the state-owned Mozambique Asset Management (MAM) are in the final stretch, the International Monetary Fund (IMF) said in its latest. . .  Full story

Italy central bank to spurn firms that don't go green

18/05 The Bank of Italy plans to adopt investment criteria which reward companies that take action on climate change, joining other central banks, commercial banks and fund managers in ratcheting up pressure on boardrooms to. . .  Full story

Chinese state media hits out at 'fabricated' U.S. tech claims

18/05 The United States has "fabricated" accusations that China forces firms to hand over technology in exchange for market access, China's top Communist Party newspaper said on Saturday, the latest salvo in a bitter trade war.. . .  Full story

EXCLUSIVE-U.S. may scale back Huawei trade restrictions to help existing customers

18/05 The U.S. Commerce Department said on Friday it may soon scale back restrictions on Huawei Technologies after this week's blacklisting would have made it nearly impossible for the Chinese company to service its existing customers.. . .  Full story

Argentina grants offshore oil, gas exploration permits in Malvinas West basin

18/05 Argentina awarded permits for hydrocarbon exploration in 18 areas off its southern coast to companies including Exxon Mobil Corp, Total SA , YPF SA and Royal Dutch Shell Plc, the government said on Friday.. . .  Full story

China's tough rhetoric leaves trade talks with U.S. in limbo

18/05 China struck a more aggressive tone in its trade war with the United States on Friday, suggesting a resumption of talks between the world's two largest economies would be meaningless unless Washington changed course.. . .  Full story

Peru's Vizcarra says China might partner on mega South American railway project

18/05 Peruvian President Martin Vizcarra said on Friday that China could partner with Bolivia and Peru on a massive intercontinental railway project that Peru once dismissed as too costly when pitched by China more than two. . .  Full story

As Fed seeks policy advice, officials visit a struggling New Jersey city

18/05 Two top Federal Reserve officials went to Camden, New Jersey, on Friday, taking a different reading of the pulse of the U.S. economy by visiting what is by one measure the country's lowest-income city, as. . .  Full story


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Live cattle futures rise as Japan drops U.S. beef import curbs

18/05 U.S. live cattle futures on the Chicago Mercantile Exchange (CME) closed higher on Friday, buoyed by news that Japan will eliminate long-held restrictions on American beef imports, traders said.. . .  Full story

Tensions with China help U.S. see importance of North American trade -Mexican official

18/05 Tense U.S.-China relations are helping the United States understand the importance of a North American trade bloc, a senior Mexican diplomat said on Friday, after negotiating a deal that ended steel tariffs in the region.. . .  Full story

U.S. lifts tariffs on Canadian, Mexican metals in boost for trade pact

18/05 The United States struck deals on Friday to lift tariffs on steel and aluminum imports from Canada and Mexico, the three governments said, removing a major obstacle to legislative approval of a new North American. . .  Full story


17/05 Iran said on Friday it could “easily” hit U.S. warships in the Gulf, the latest in days of saber rattling between Washington and Tehran, while its top diplomat worked to counter U.S. sanctions and. . .  Full story

Latam FX drops, Brazil's real clocks 8-month closing low

17/05 Latin American currencies softened on Friday against a robust dollar amid rising U.S.-China tensions, with Brazil's real facing intense selling pressure as investors' concerns about growth in Latin America's top economy gathered steam.. . .  Full story

U.S. lifts tariffs on Canadian, Mexican metals, boosting trade pact's outlook

17/05 The United States struck deals on Friday to lift tariffs on steel and aluminum imports from Canada and Mexico, the three governments said, removing a major obstacle to legislative approval of a new North American. . .  Full story

Trump declares some auto imports pose national security threat

17/05 U.S. President Donald Trump on Friday declared that some imported vehicles and parts pose a national security threat but delayed a decision for as long as six months on whether to impose tariffs to. . .  Full story

Fed's Harker in no rush on rates, worried about low inflation expectations

17/05 A top Federal Reserve official on Friday said he is worried that falling inflation expectations could make it harder for the U.S. central bank to do its job but that he still sees "at. . .  Full story

IMF's Lagarde says U.S.-China trade war could be risk for world economic outlook

17/05 The trade war between the United States and China could be a risk to the world economic outlook if it is not resolved, International Monetary Fund Managing Director Christine Lagarde told Reuters on Friday during. . .  Full story

Wall Street falls as trade anxieties spike

17/05 Wall Street ended lower on Friday as continuing trade tensions pulled industrial and tech shares down, and the Dow capped a fourth straight week of losses in its longest weekly losing streak in three. . .  Full story

Fresh trade uncertainty rattles stocks, hits yuan

17/05 A major global stocks index fell on Friday and the Chinese yuan weakened as financial markets were again jostled by uncertainty over global trade tensions.. . .  Full story

Tackle corruption, liberalise prices, IMF urges Uzbekistan

17/05 Uzbekistan must combat corruption, liberalise prices and trim its fiscal deficit as it continues economic reforms which ended decades of self-imposed isolation, International Monetary Fund chief Christine Lagarde told Reuters on a visit to Tashkent.. . .  Full story

Corn extends run to 4-mth top as rains threaten more planting delays

17/05 U.S. corn futures extended their rally on Friday, jumping to a four-month high, as forecasts of heavy rain sweeping a wide path across the U.S. Midwest next week fuelled concerns about worsening planting delays.. . .  Full story

Huawei and suppliers make plans to face U.S. trade blacklist - Nikkei

17/05 China's Huawei Technologies Co Ltd is asking its top Asian chipmakers to maintain deliveries after Washington decided to curb the telecom giant's access to American technology, the Nikkei reported . .  Full story

Toyota sharply criticizes Trump designation on auto imports

17/05 Toyota Motor Corp on Friday criticized U.S. President Donald Trump's decision to declare some auto sector imports a national security threat, saying it sends a message to the Japanese automaker that "our investments are not. . .  Full story

Mexico says deal reached with U.S. on steel, aluminum does not impose quotas

17/05 The Mexican President's office said on Friday that a U.S. deal to lift steel and aluminum tariffs will not impose quotas on metals in Mexico.. . .  Full story

Oil slips but ends week higher on Mideast supply disruption fears

17/05 Oil prices edged lower on Friday due to demand fears amid a standoff in Sino-U.S. trade talks, but both benchmarks ended the week higher on rising concerns over supply disruptions in Middle East shipments. . .  Full story

Trade talks between U.S. and China have stalled -CNBC

17/05 The trade talks between the United States and China have stalled, CNBC reported on Friday, citing sources.. . .  Full story

U.S. stocks drop late in session on trade uncertainty

17/05 Wall Street shares extended losses in late trade on Friday after CNBC reported that the next round of U.S.-China negotiations was in flux, looking set to end a seesaw week the same way they. . .  Full story

-IMF:too early to assess Sri Lanka economic damage from Easter bombings

17/05 The International Monetary Fund said on Thursday it was holding its forecast for Sri Lanka's 2019 economic growth at 3.5% in spite of devastating Easter bombings, saying it was too early to assess financial. . .  Full story

Sri Lanka budget, current account deficits could widen after bombings - IMF reps for Sri Lanka

17/05 Sri Lanka's budget and current account deficits could widen because of the Easter Sunday bombings but the island's economy will recover in the medium-term and then have about 5% annual growth, the executive director for. . .  Full story

U.S. elimination of tariffs on Mexico, Canada paves way for trade deal -Mexican official

17/05 Mexico views the U.S. decision to lift steel and aluminum tariffs from Mexico and Canada with "great enthusiasm," a senior Mexican official said on Friday, adding that the action paved the way to pass. . .  Full story

Iran's crude exports slide to 500,000 bpd or less -sources

17/05 Iranian crude oil exports have fallen in May to 500,000 barrels per day (bpd) or lower, tanker data showed and industry sources said, after the United States tightened the screws on Tehran's main source. . .  Full story

Yields inch lower amid trade uncertainty

17/05 Trade tension between the United States and China ratcheted up again on Friday, pushing Treasury yields slightly lower as traders sought safety in high-quality assets.. . .  Full story

Canada's Trudeau says steel, aluminum tariffs were biggest barrier to USMCA ratification

17/05 Canadian Prime Minister Justin Trudeau, speaking at a Stelco steel plant in Hamilton, Ontario, says:. . .  Full story

Defiant Iran says it can 'easily' hit U.S. ships, works to counter sanctions

17/05 Iran said on Friday it could "easily" hit U.S. warships in the Gulf, the latest in days of saber rattling between Washington and Tehran, while its top diplomat worked to counter U.S. sanctions and. . .  Full story

Gold slides to two-week low, faces biggest weekly loss in a month

17/05 Gold prices on Friday slipped to their lowest in two weeks as the dollar advanced on the back of strong U.S. economic data, putting the metal on track for its biggest weekly decline in. . .  Full story

Dollar gains as European concerns hurt euro, sterling

17/05 The dollar rose on Friday as concern about next week's European parliamentary elections dented demand for the euro, while the British pound dropped to a four-month low on worries about Britain's exit from the. . .  Full story

Overstock CEO says he had to sell shares to supplement his pay

17/05 Inc Chief Executive Officer Patrick Byrne lashed out on Friday at investors who questioned his recent sale of shares, saying he had to supplement his $100,000 a year salary and vowing never to "give. . .  Full story

BRIEF-U.S. agrees to lift steel and aluminum tariffs against Canada - joint statement

17/05 In a joint statement, Canada and the U.S. said:. . .  Full story

U.S. agrees to lift steel and aluminum tariffs against Canada - joint statement

17/05 In a joint statement, Canada and the U.S. said:. . .  Full story

IMO 2020: a major shake-up for oil and shipping

17/05 Tougher rules on sulphur emissions from ships will come into effect next year in the biggest shake-up for the oil and shipping industries for decades.. . .  Full story

Five Point Energy sells stake in midstream water firm WaterBridge Resources

17/05 Private equity Five Point Energy LLC said on Friday it had sold its minority stake in midstream water firm WaterBridge Resources LLC to affiliates of Singapore's sovereign wealth fund, GIC.. . .  Full story

South Africa's Sibanye wins final regulatory go-ahead for Lonmin deal

17/05 South Africa's Competition Appeal Court gave the green light on Friday to Sibanye-Stillwater's takeover of Lonmin that aims to create the world's second-largest platinum producer.. . .  Full story

Mexico, Canada to lift tariffs on U.S. products once metals deal announced -Mexican official

17/05 Mexico and Canada will lift retaliatory tariffs on U.S. products once the United States announces that a deal has been reached to remove steel and aluminum duties from the two countries, a senior Mexican official. . .  Full story

IMO agrees on stricter efficiency targets for some ships

17/05 The International Maritime Organization (IMO) on Friday agreed stricter energy efficiency targets for certain types of ships in an effort to speed up action to cut the sector's emissions.. . .  Full story