News Wire

Egypt's economy to grow by 8% annually by 2022-PM

15/09 Egypt expects its economy to grow by an annual rate of 8% by 2022 as the government improves the investment climate, Prime Minister Mostafa Madbouly said on Sunday.  Full story

Australia, NZ shares lower despite energy stocks spike

04h55 A sharp jump in energy stocks on the back of a surge in global oil prices was not quite enough to lift the Australian market on Monday, as the heavyweight financial index dragged on. . .  Full story

China's Aug crude throughput rises to monthly record on higher margins

04h53 Crude oil throughput at China's refineries in August rose 6.9% from a year earlier to a record high on monthly basis, data showed on Monday, driven by a rebound in refining margins and a. . .  Full story

Australia's property recovery remains in-house as rest of economy struggles to motor on

04h46 When Michael Jiang scored a liquor licence four years back, he had hoped it would help drive more sales at his struggling small grocery business in Sydney.. . .  Full story

LME copper declines over 1% on weak China demand outlook

04h40 London copper prices dropped on Monday, while some other base metals also declined, dragged by concerns about slowing demand outlook from top consumer China.. . .  Full story

China's Aug industrial output growth grinds to 17-1/2 year low

04h40 The slowdown in China's factory and consumer sectors deepened in August, with industrial production growing at the weakest pace in 17-1/2 years, a sign of increasing weakness in an economy lashed by trade headwinds and. . .  Full story

China Mengniu makes move for infant formula co Bellamy's Australia

04h37 China Mengniu Dairy Co Ltd plans to buy infant formula maker Bellamy's Australia for A$1.43 billion ($983 million), sending the target's shares soaring although the deal needs regulatory approval.. . .  Full story

S.Korea stocks inch higher on refiners, shipbuilders

04h37 Round-up of South Korean financial markets: ** South Korean shares edged higher on Monday, driven by refineries and shipbuilders as oil prices surged, while worries over the chip industry capped gains.. . .  Full story

Dream Global REIT to be bought by Blackstone funds in $4.7 bln deal

04h33 Dream Global Real Estate Investment Trust said funds managed by Blackstone Group Inc would buy the Canadian firm in a C$6.2 billion ($4.69 billion) deal.. . .  Full story

China aluminium output slips in August amid smelter outages

04h33 China's primary aluminium output in August fell 0.5% from the previous month, according to data released by the National Bureau of Statistics (NBS) on Monday, as unexpected outages at two key smelters dented production.. . .  Full story

Breakdown of China's August industrial output

04h14 Following is a breakdown of China's industrial output for August, published by the National Bureau of Statistics on Monday. (Percent change from a year earlier, except for sales/output ratio):. . .  Full story

Breakdown of China's Jan-Aug fixed-asset investment

04h10 Following is a breakdown of China's fixed-asset investment for the year to date, published by the National Bureau of Statistics on Monday. (Percent change from a year earlier, year to date):. . .  Full story

Breakdown of China's Jan-Aug property investment

04h09 Following is a breakdown of China's real estate investment for the year to August, published by the National Bureau of Statistics on Monday. Actual investment in the sector (bln yuan, pct change y/y):. . .  Full story

Breakdown of China's Aug retail sales

04h04 Following is a breakdown of China's retail sales for August, published by the National Bureau of Statistics on Monday. (Percent change from a year earlier):. . .  Full story

China's Jan-Aug property investment growth slows, sales fall

04h00 China's property investment grew 10.5% in the first eight months of 2019 from a year earlier, cooling slightly from 10.6% in the January-July period, official data showed on Monday.. . .  Full story

GLOBAL MARKETS-Oil surges, stock futures slip after attack on Saudi facility

03h57 Oil prices surged to six-month highs on Monday while Wall Street futures fell and safe-haven bets returned after weekend attacks on Saudi Arabia's crude facilities knocked out more than 5% of global oil supply.. . .  Full story

Will the hard lessons of the Saudi oil attack be learned?: Russell

03h49 The attacks on Saudi Arabia's oil facilities have done more than knock out some 5% of global crude supplies, they have provided a myriad of lessons for all involved.. . .  Full story

S. Korean Won leads gains, most others weaken

03h45 The following table shows rates for Asian currencies against the dollar at 0141 GMT. CURRENCIES VS U.S. DOLLAR Change on the day at. . .  Full story

LNG Ltd to supply gas to Vietnam from Louisiana project

03h35 Australia-listed Liquefied Natural Gas Ltd said on Monday it signed a deal with a province in Vietnam to supply liquefied natural gas (LNG) from its Louisiana-based Magnolia project.. . .  Full story

Virgin Australia to buy rest of frequent flyer programme for $480 mln

03h33 Virgin Australia Holdings Ltd on Monday said it entered an agreement to buy back the 35% of its Velocity frequent flyer programme that it does not already own for A$700 million ($481 million) from. . .  Full story

Corn hits 17-day high on prospects of more ethanol demand

03h27 U.S. corn futures rose more than 0.5% on Monday to hit their highest in more than two weeks as firmer oil prices stoked expectations of a surge in ethanol demand.. . .  Full story

Oil prices soar 10% after attack on Saudi facilities hits global supply

03h14 Oil prices retreated on Monday after hitting their highest since May at the open, on fears over supply disruptions following an attack on Saudi Arabia's oil facilities on Saturday that cut more than 5%. . .  Full story

Gold gains as attacks on Saudi oil plants lift safe-haven bets

03h07 Gold prices jumped more than 1% on Monday as investors scurried for safe-haven assets after weekend attacks on Saudi Arabia's oil facilities risked disrupting global energy supplies and increasing tensions in the Middle East.. . .  Full story

"Very difficult" for China's economy to grow 6% or faster -Premier Li

02h58 Chinese Premier Li Keqiang said it is "very difficult" for China's economy to grow at a rate of 6% or more because of the high base from which it was starting and the complicated. . .  Full story

Trump says U.S. 'locked and loaded' for potential response to Saudi oil attack

02h57 U.S. President Donald Trump said on Sunday that the United States was "locked and loaded" for a potential response to the attack on Saudi Arabia's oil facilities, after a senior official in his administration. . .  Full story

Saudi attacks threaten U.S. gasoline price hikes, particularly in California

02h56 U.S. motorists most likely to feel the hit from rising gas prices following the attacks on Saudi Arabia's oil facilities are on the West Coast, which accounts for nearly half of all of U.S.. . .  Full story

Dollar falls as oil attacks send investors to safety

02h50 The dollar fell while safe-havens and currencies of oil producing countries rallied on Monday, following an attack on Saudi Arabian refining facilities that disrupted global oil supply and heightened Middle East tensions.. . .  Full story

Australia's Pacific Energy picks QIC's $321 mln offer

02h42 Australia's Pacific Energy said on Monday it would back a $321.18 million takeover offer by QIC Private Capital after the investment manager matched a rival consortium's recent offer for the power supplier.. . .  Full story

EXCLUSIVE-WeWork considers dramatic valuation cut in IPO

01h32 WeWork owner The We Company may seek a valuation in its upcoming initial public offering of between $10 billion and $12 billion, a dramatic discount to the $47 billion valuation it achieved in January,. . .  Full story

Trump to meet with India, Australia leaders in U.S. next week

01h29 U.S. President Donald Trump will meet next week with the leaders of India and Australia at events in Texas and Ohio to promote trade and investment.. . .  Full story

Trump says 'incorrect' he is willing to meet Iran with "no conditions"

01h17 U.S. President Donald Trump on Sunday appeared to play down the chances that he might be willing to meet with Iranian officials, saying reports that he would do so without conditions were not accurate.. . .  Full story

As talks falter, UAW calls first national strike against GM since 2007

01h16 The United Auto Workers (UAW) said on Sunday that its roughly 48,000 hourly workers at General Motors Co facilities would go on strike as of midnight on Sunday after U.S. labor contract talks reached an. . .  Full story

U.S. 'locked and loaded' after attacks on Saudi Arabia -Trump

01h05 The United States believes it knows who was behind the attacks on Saudi oil facilities and is "locked and loaded," but is waiting for verification and for a Saudi assessment of responsibility before deciding. . .  Full story

UK employers cut growth forecasts as Brexit, global slowdown weigh

01h01 The British Chambers of Commerce cut its forecast for economic growth this year and 2020 on Monday, blaming a slower global economy, U.S.-China trade tensions and the persistent drag from Brexit.. . .  Full story

Trump urges GM, UAW to resolve contract dispute

01h00 U.S. President Donald Trump said Sunday that General Motors Co and the United Auto Workers union should "get together and make a deal." Trump tweeted about five hours before the union is set launch. . .  Full story

Attack on Saudi leaves world without spare oil capacity

00h58 The strike on the heartland of Saudi Arabia's oil industry, including damage to the world's biggest petroleum-processing facility, has driven oil prices to their highest level in nearly four months.. . .  Full story

U.S. stock futures fall after Saudi oil attacks

00h57 U.S. stock futures fell 0.3% percent when trading resumed on Sunday, a day after attacks on Saudi oil facilities that risk disrupting global energy supplies.. . .  Full story

UAW, GM set to resume contract talks on Monday - union

00h42 The United Auto Workers union and General Motors Co are set to resume contract talks at 10 a.m. EDT on Monday, hours after the union is set to go on strike, a union spokesman. . .  Full story

Year Treasury note futures prices rise

00h38 U.S. 10-Year Treasury note futures prices rose 0.2 pct at the start of trading on Sunday, after weekend attacks on Saudi Arabia oil plants.. . .  Full story

Australia shares set to open lower ahead of Fed rate decision

00h13 Australian shares are set to open slightly lower as investors cautiously await the U.S. Federal Reserve's rate decision, while energy stocks are expected to rise on strong prices after an attack on oil facilities. . .  Full story

Trump authorizes release of U.S. oil reserves if needed because of Saudi attacks

00h10 U.S. President Donald Trump said on Sunday he authorized the release of oil from the U.S. Strategic Petroleum Reserve (SPR) if needed in a quantity to be determined because of Saturday's attack on Saudi. . .  Full story

EU businesses warn no-deal Brexit would be disaster

00h01 Britain's exit from the European Union without a divorce agreement would be a disaster and must be ruled out, Europe's biggest business organisation said on Monday, as EU officials warn this worst-case scenario is increasingly. . .  Full story

U.S. shale seen unlikely to quickly replace barrels lost in attack on Saudi facilities

15/09 U.S. shale producers have added millions of barrels to global crude supply in recent years, but that does not mean they can quickly replace barrels lost from weekend attacks on Saudi Aramco facilities, energy. . .  Full story

Evidence from Saudi oil attack points to Iran, not Yemen -U.S. official

15/09 The attack on Saudi Arabia's oil facilities on Saturday that has threatened global oil supplies came from a direction indicating that Iran was behind it, and cruise missiles may have been the weapon of choice,. . .  Full story

Scope, precision of Saudi oil attacks show Iran to blame -U.S. officials

15/09 The scope and precision of drone attacks on Saudi Arabian oil facilities show they were launched from a west-northwest direction rather than from Yemen to the south, where Houthi rebels claimed responsibility, senior U.S. administration. . .  Full story

France to cut household taxes by 9.3 bln euros - Les Echos

15/09 Tax cuts for French households will amount to 9.3 billion euros ($10.3 billion) next year, Les Echos reported in a preview of its Monday edition, citing anonymous sources.. . .  Full story

S&P Global Platts sees Saudi oil strikes driving up risk premium in crude market

15/09 Attacks on Saudi oil plants have boosted concerns about supply security in the Middle East and should raise the risk premium in the global crude market, shifting focus from a gloomy economic backdrop, S&P. . .  Full story

Pakistan hopes to meet fiscal deficit target set by IMF - finance chief

15/09 Pakistan is edging towards macro-economic stability after putting in place tough measures to meet a fiscal deficit target set by the International Monetary Fund as part of a $6 billion bailout in July, its finance. . .  Full story

Fresenius drops possible sale of blood transfusion unit - spokesman

15/09 German health care group Fresenius has abandoned plans to sell its blood transfusion business, a spokesman said on Sunday, confirming a German media report.. . .  Full story

Saudi oil exports to run as normal from stocks this week - source

15/09 Saudi Arabia's oil exports will continue as normal this week as the kingdom taps into stocks from its large storage facilities, an industry source briefed on the developments told Reuters on Sunday.. . .  Full story

Axel Springer plans layoffs after KKR becomes biggest shareholder - report

15/09 Axel Springer is planning layoffs as part of a cost-cutting programme that would mainly affect its newspapers, the German media group's chief executive told the Sueddeutsche Zeitung in an interview released on Sunday.. . .  Full story

U.N. chief condemns Saudi attacks, calls for restraint

15/09 U.N. Secretary-General Antonio Guterres on Sunday condemned the drone attacks on Saudi Arabian oil facilities and called on those involved to prevent escalation.. . .  Full story

Germany's car watchdog sets Audi ultimatum to remove illegal diesel software -report

15/09 Germany's motor vehicle authority (KBA) has told Volkswagen's premium brand Audi that it faces penalties for its failure to remove illegal software from diesel cars that can manipulate emissions levels, the Bild am Sonntag (BamS). . .  Full story

U.S. won't rule out Trump-Rouhani meeting after blaming Iran for Saudi attacks

15/09 The White House on Sunday did not rule out a potential meeting between President Donald Trump and Iranian President Hassan Rouhani, even after Washington accused Iran of being behind drone attacks on Saudi oil facilities.. . .  Full story

Wall St Week Ahead-With rate cut likely, market wonders how low Fed will go

15/09 With U.S.-China trade tensions roiling markets, investors are counting on support for stocks coming from a Federal Reserve willing to keep cutting interest rates to help the U.S. economy avoid a severe downturn.. . .  Full story

UAW to strike against GM starting Sunday evening

15/09 The United Auto Workers (UAW) said that its members will go on strike against General Motors Co as of Sunday evening, after a lack of progress in contract talks on key issues from wages. . .  Full story

After LSE's sharp rebuff, HKEX begins investor charm offensive

15/09 Hong Kong Exchanges and Clearing is embarking on a three-week charm offensive with London Stock Exchange investors as the Asian trading house tries to salvage its proposed $39 billion takeover offer.. . .  Full story

White House says U.S. ready to tap SPR, doesn't rule out Iran meeting

15/09 White House adviser Kellyanne Conway said on Sunday the U.S. Energy Department is prepared to tap into the Strategic Petroleum Reserve after attacks on Saudi oil facilities if needed to stabilize the global energy supply.. . .  Full story

Aramco tells Indian refiner it will get oil - source

15/09 Saudi Aramco has told one Indian refinery there will be no immediate impact on oil supplies as it will deliver crude from other sources and had adequate inventory, a source with the refinery said. . .  Full story

EU warns of instability after Saudi oil attacks

15/09 The European Union warned on Sunday of a "real threat to regional security" in the Middle East after attacks on Saudi oil plants that risk disrupting global energy supplies and for which Yemen's Iran-aligned. . .  Full story

Fed trades "remarkably positive" for "no precedents" after volatile year

15/09 A year ago, U.S. Federal Reserve Chair Jerome Powell held a "remarkably positive outlook" for an economy enjoying a "historically rare" combination of good news including low unemployment, steady inflation and strong growth that were. . .  Full story

Egypt expects several share offerings by end of year - official

15/09 Egypt expects two state companies and one private pharmaceuticals firm worth more than one billion Egyptian pounds ($61.3 million) to make share offerings by the end of the year, an official at the Financial. . .  Full story

Saudi attacks raise spectre of oil at $100/barrel

15/09 The oil market will rally by $5-10 per barrel when it opens on Monday and may spike to as high as $100 per barrel if Saudi Arabia fails to quickly resume oil supply lost. . .  Full story

WeWork IPO spells rough landing for CEO Neumann

15/09 Adam Neumann showed he can capitalize on troubled times a decade ago, tapping into demand for workspace by those forced out of jobs in the aftermath of the financial crisis to grow WeWork into. . .  Full story

UAE regulator not optimistic on Boeing 737 MAX return this year

15/09 The head of the United Arab Emirates' General Civil Aviation Authority said on Sunday he was not optimistic that the Boeing 737 MAX would return to operations this year and that. . .  Full story

West African leaders pledge $1 bln to fight Islamist threat

15/09 West African leaders have pledged $1 billion to combat the spiralling threat of Islamist militancy in the region, the head of the regional ECOWAS bloc said on Saturday.. . .  Full story

Iran says U.S. bases and aircraft carriers within range of its missiles - Tasnim

15/09 An Iranian Revolutionary Guards commander said on Sunday that U.S. bases and aircraft carriers in the region were within range of Iranian missiles after the U.S. accused Iran of leading attacks on Saudi oil. . .  Full story

Global regulators to question Facebook's Libra amid EU concerns -paper

15/09 Global regulators will question Facebook on Monday about its Libra cryptocurrency, amid concerns from European Union governments over the threat the digital currency poses to financial stability, the Financial Times reported on Sunday.. . .  Full story

Japan culls 753 hogs to contain swine fever outbreak

15/09 Japanese officials have culled 753 pigs in Saitama Prefecture north of Tokyo after detecting an outbreak of swine fever, the Yomiuri newspaper said on Sunday.. . .  Full story

Japan to eliminate tariffs on U.S. wine in trade deal - Nikkei

15/09 Japan has agreed to phase out tariffs on U.S. wine imports as part of a bilateral trade deal expected to be signed at the end of the month, t1he Nikkei newspaper reported on Sunday.. . .  Full story

U.S. readies emergency oil reserves in wake of Saudi attacks

15/09 The Trump administration said on Saturday it stood ready to tap U.S. emergency oil reserves if needed after attacks in Saudi Arabia shut more than half the crude output in the world's largest oil. . .  Full story

U.S. blames Iran for Saudi attacks, 'pretend' diplomacy

15/09 U.S. Secretary of State Mike Pompeo on Saturday accused Iran of leading attacks on Saudi oil plants that have cut the kingdom's output roughly in half, as he ruled out Yemeni involvement and denounced. . .  Full story

Reactions to attack on Saudi oil facilities

15/09 Yemen's Iran-aligned Houthi group on Saturday attacked two plants at the heart of Saudi Arabia's oil industry in a strike that could impact about 5 million barrels per day of crude production - close. . .  Full story

Attacks on Saudi oil facilities knock out half the kingdom's supply

15/09 Yemen's Iran-aligned Houthi group said it attacked two plants at the heart of Saudi Arabia's oil industry on Saturday, knocking out more than half the Kingdom's output, in a move expected to send oil prices. . .  Full story

Attacks on Saudi facilities threaten spare oil capacity, price hikes

15/09 Saturday's attacks on key Saudi Arabia processing plants will test the world's ability to handle a supply crisis as it faces the temporary loss of more than 5% of global supply from the world's. . .  Full story

Biggest buyers of Saudi Arabian oil

14/09 Yemen's Iran-aligned Houthi group on Saturday attacked two plants at the heart of Saudi Arabia's oil industry in a strike that could impact about 5 million barrels per day (bpd) of crude production -. . .  Full story

United States blames Iran for Saudi attacks, 'pretend' diplomacy

14/09 U.S. Secretary of State Mike Pompeo on Saturday accused Iran of leading an attack on Saudi oil plants that has impacted half the kingdom's output, as he ruled out Yemeni involvement and denounced Tehran. . .  Full story

Global spare oil capacity in U.S. hands after Saudi outage

14/09 An attack on Saudi oil facilities on Saturday is believed to have disrupted half the country's production capacity, making the United States the only real holder of the global supply cushion via its ability. . .  Full story

U.S.' Pompeo blames Iran for Saudi attacks, 'pretend' diplomacy

14/09 U.S. Secretary of State Mike Pompeo on Saturday accused Iran of attacking Saudi oil plants, as he ruled out Yemeni involvement and said Tehran was engaging in false diplomacy.. . .  Full story

Climate protesters tell carmakers 'the party is over'

14/09 Thousands of protesters marched in front of Frankfurt's IAA car show on Saturday to demand a swift end to combustion engines and a shift to environmentally friendly vehicles as Chancellor Angela Merkel's government prepares to. . .  Full story

Houthi drones attack Saudi oil heartland, sources say crude flows hit

14/09 Yemen's Iran-aligned Houthi group on Saturday attacked two plants at the heart of Saudi Arabia's oil industry, including the world's biggest petroleum processing facility, in a strike that three sources said had disrupted output and. . .  Full story

IEA says oil markets 'well supplied' after attack in Saudi Arabia

14/09 The International Energy Agency said on Saturday it is closely monitoring the situation in Saudi Arabia following drone attacks on oil production facilities in the country.. . .  Full story

Iran says it will adopt maximum crude output policy if US lifts sanctions

14/09 Iran will adopt a policy of maximum crude production if the United States lifts sanctions on the country's oil industry, Iranian Oil Minister Bijan Zanganeh said on Saturday. "Maximum production would be the Iranian Ministry. . .  Full story

UK condemns Houthi drone attack on Saudi oil facilities

14/09 Britain condemned a drone attack on Saudi Arabian oil facilities on Saturday, and said that Yemen's Houthi rebel group should stop targeting Saudi civilian and commercial infrastructure.. . .  Full story

India sets up fund to complete stalled housing projects

14/09 India on Saturday announced a series of measures to revive the housing sector and boost exports as the government tries to kick-start an economy hit by a lending crisis and a slowdown in demand.. . .  Full story

EU finance ministers back push for simpler fiscal rules

14/09 European Union finance ministers backed on Saturday a simplification of the EU's fiscal rules to make them more transparent and predictable, but more work is needed before any changes are agreed, a senior European Commission. . .  Full story

Italy's economy minister urges caution over privatisations

14/09 Italy's economy minister Roberto Gualtieri said on Saturday that privatisation targets set by the previous Italian government were "unrealistic", and warned the sale of government shares in public companies should be handled with caution.. . .  Full story

South Africa's deputy mines minister dies in car accident

14/09 South Africa's Deputy Minister of Mineral Resources and Energy Bavelile Hlongwa has died in a car accident, President Cyril Ramaphosa said on Saturday.. . .  Full story

Ukraine wheat export memorandum with traders to be signed soon: minister

14/09 Ukraine will soon sign its annual wheat export memorandum with traders, the new Minister of Economy, Trade and Agriculture Tymofiy Mylovanov told Reuters on the sidelines of the Yalta European Strategy (YES) summit.. . .  Full story

Saudi state TV reports Saudi oil exports are ongoing

14/09 Saudi state TV reported on Saturday that the kingdom's "oil exports are ongoing", citing its own correspondent.. . .  Full story

Opal pipeline reduces gas flows after court ruling, Nel raises intake

14/09 Germany's Opal onshore gas link, which connects to the Russian-designed Nord Stream pipeline, has started reducing gas flows after a court ruling, while Nel, another link to the undersea connector, boosted intake, operators' data showed. . .  Full story

Yemen's Houthis claim drone attacks on Saudi Aramco plants - Masirah TV

14/09 Yemen's Houthi group claimed responsibility for drone attacks on two Saudi Aramco plants in the kingdom's Eastern Province on Saturday, the group's military spokesman said on Al Masirah TV.. . .  Full story

Iran signs $440 mln deal with local firm to develop Gulf gas field

14/09 Iran signed a $440 million contract on Saturday with local company Petropars to develop the Belal gas field in the Gulf, Iranian state television reported, saying the country's vital energy sector was active despite. . .  Full story

Fires from drone attacks on two Aramco sites under control -Saudi govt spokesman

14/09 Drone attacks on two Saudi Aramco factories in Abqaiq and Khurais on Saturday caused fires that the company's security forces brought under control, a spokesman for Saudi Arabia's interior ministry said in a statement.. . .  Full story

Indonesia says some forest fires started on Malaysian-controlled land

14/09 Indonesia's environment minister said on Friday some forest fires in its territory had started on land used by subsidiaries of Malaysian companies, as the neighbours traded blame for blazes that have spread haze across the. . .  Full story

WeWork considers dramatic valuation cut in IPO

14/09 WeWork owner The We Company may seek a valuation in its upcoming initial public offering of between $10 billion and $12 billion, a dramatic discount to the $47 billion valuation it achieved in January,. . .  Full story

Global economy 'far' from recession, IMF official says

13/09 Trade tensions are weighing on growth across the world, but the International Monetary Fund is "far" from forecasting a global recession, an IMF official told Reuters on Friday, as the fund prepares to release. . .  Full story

Speculators turn against Brazil's real, hold biggest short since 2014

13/09 Hedge funds and speculators on U.S. futures markets turned aggressively against the Brazilian real in the latest week, building up their largest bet in five years on it falling, figures on Friday showed.. . .  Full story

France, Germany blast Facebook's Libra, back public cryptocurrency

13/09 France and Germany said on Friday that Facebook Inc's Libra currency posed risks to the financial sector that could block its authorisation in Europe, and backed the development of an alternative public cryptocurrency.. . .  Full story