Markets

by | July 03, 2018 | 12:31

As such, the addition of 1 mb/d from Saudi Arabia alone would lead to the OPEC + group exceeding the production levels they just committed to, after factoring in additions from Russian Federation and other Gulf States. Hence, Opec and other non-Opec countries could potentially plug any gap. In fact, oil prices responded to the agreement by increasing rather than going down.

by | July 03, 2018 | 11:42

Last week, OPEC countries and other major oil producers that participated in the 2016 Vienna deal agreed on increasing production to one million barrels per day, which is the volume of the countries' over-compliance with the agreement. The Organization of the Petroleum Exporting Countries agreed with Russian Federation and other oil-producing allies on June 23 to raise output from July, with Saudi Arabia pledging a "measurable" supply boost, but giving no specific numbers.

by | July 02, 2018 | 18:55

Oil prices have edged higher as the Trump administration has pushed allies to end all purchases of oil from Iran following the USA pulling out of the 2015 nuclear deal . The United States will sanction any European companies found doing business with Iran, Donald Trump said during an interview aired on Sunday. "OPEC decisions by no means warrant any action by some of its member countries in pursuit of the call for production increase by US, politically motivated against Iran", Zanganeh ...

by | July 02, 2018 | 17:40

But a cabin steward from the Carnival Glory spotted the crew member in the water around 1:20 p.m. Sunday. We posted about this earlier on Cruise Hive and we weren't expecting a good outcome which unfortunately happens when it comes to a cruise ship overboard.

by | July 02, 2018 | 17:23

Musk wrote that, not only did Tesla "factory gate" more than 5,000 Model 3s, it may make 6,000 Model 3s a week next month. Just last week, Tesla invited all Model 3 reservation holders in the USA and Canada to configure their auto and put in their order, a step that costs another $US2,500.

by | July 02, 2018 | 11:59

Startup costs can be as low as $10,000, Amazon said, with an entrepreneur running 40 trucks making $300,000 a year. Amazon is offering incentives for entrepreneurs to start their own small scale-delivery service. Amazon has set aside $1 million for this program. Amazon-branded vans will be available to lease and Amazon-branded uniforms can be bought for drivers.

by | July 02, 2018 | 07:10

China, the world's top crude oil buyer, imported around 655,000 barrels a day on average from Iran in the first quarter of this year, according to official Chinese customs data, equivalent to more than a quarter of Iran's total exports. The unprecedented supply-cut pact has lifted crude prices from below US$30 a barrel in early 2016 to around US$70. Trump past year chose Saudi Arabia for his first foreign trip.

by | June 30, 2018 | 09:05

In the preceding session, rupee had posted the biggest fall against the dollar since June 19. "Our view on broad EM is still one of caution, something we have been advocating for some time", said Dushyant Padmanabhan, a currency strategist at Nomura in Singapore.

by | June 30, 2018 | 08:01

This personal information includes name, address, email address, telephone number, Ticketmaster login details and, worryingly, payment details. Ticketmaster UK, part of USA giant Live Nation Entertainment, said local customers who bought - or even just tried to buy - tickets between February and June 23, 2018 may have been impacted, as well as global customers with transactions or attempts from as far back as September 2017.

by | June 30, 2018 | 07:33

A lot of kids are really probably shopping online Amazon a place like that, but there's something special about going to a store like Toys "R" Us", said Dale Shough, a customer. In 1965, Geoffrey the giraffe became the company's mascot, appearing in his first TV commercial in 1973. The toy store opened its doors 70 years ago.

by | June 30, 2018 | 06:55

Beijing is monitoring the impact of the proposed strengthening of the Committee on Foreign Investment in the U.S., after Treasury Secretary Steven Mnuchin won an internal fight to stave off an even tougher approach to curbing Chinese investment in United States technology.

by | June 30, 2018 | 06:42

Toyota Motor Corp. filed separate comments opposing the tariffs on Friday saying they would "threaten US manufacturing, jobs, exports, and economic prosperity". GM also warned that the tariffs would hurt investment, undermining the USA role in the global industry. A tariff is a tax and it will be paid by American consumers.

by | June 29, 2018 | 23:45

A Heineken spokeswoman said: "We'd like to reassure beer drinkers that all our breweries are operating at full capacity, and we're working 24/7 to get beers to our customers as quickly as possible". It's a case of bad timing that several plants wound down operations together, just as demand for food and drink was being ramped up by the good weather and football's World Cup .

by | June 29, 2018 | 23:37

The total funds held by all foreign clients of Swiss banks saw a rise of about 3 per cent to CHF 1.46 trillion that is about Rs 100 lakh crore in 2017, according to Swiss National Bank's official annual data released on Friday. The Pakistani money in Swiss banks had fallen by 6 percent to CHF 1.4 billion (about Rs9,500 crore) in 2016. "With the various measures of this government against black money, Swiss bank deposits have been decreasing", he added.

by | June 29, 2018 | 13:44

By contrast staffing levels at BMW's British plant have remained relatively stable during the same period, with just over 4,500 people working on building Minis in Oxford. Its just-in-time production system requires the free movement of parts and goods. According to SMMT, investment in new plant, machinery, tooling and new models has almost halved from from £647.4m ($856m) in the first half of 2017, to £347.3m up to June 21 this year.

by | June 28, 2018 | 21:31

A spokesperson for the foreign office disputed whether he had used bad language and said he had been attacking business lobbyists. The economic damage means the Treasury has less money to spend on public services and knocks on the head the idea that Britain will enjoy a " Brexit dividend" when it no longer has to contribute to the European budget, it said.

by | June 28, 2018 | 15:32

Erdoğan may not be too happy having to share power with a party that was last in a coalition alliance in 2002 but with his AKP lacking a parliamentary majority he will have to keep the nationalists in partnership. In this election, which Erdogan brought forward by 18 months, victory for the incumbent doesn't mean no change. The race is expected to be most closely contested in parliament, where the AKP and its Nationalist Movement Party (MHP) ally are trying to achieve a majority that would ...

by | June 28, 2018 | 15:26

On Sunday, merchants at Tehran's mobile phone shopping centers Aladdin and Charsou shut their shops to protest against the rial's slide, Fars news agency reported . Another man is heard shouting: "Come back!" Holly Dagres, an Iranian-American analyst, told The National that the Grand Bazaar's traders have a history of association with such protests.

by | June 28, 2018 | 06:58

The joint deal by OPEC and other oil-producing allies to raise output demonstrates the strength of the Russia-Saudi energy alliance, which will help stabilize the market for many years to come, the head of Russia's sovereign wealth fund said on Monday.

by | June 28, 2018 | 05:14

At the event, Trump heaped praise on the company for manufacturing its motorcycles in the USA and being an iconic American brand. Harley-Davidson has denied that. "Harley-Davidson is using that as an excuse, and I don't like that because I've been very good to Harley-Davidson and they used it as an excuse", he said in response.