Oil industry revives quest for deepwater reserves
Author: REUTERSSat, 2017-03-11ID: 1489175462160935100HOUSTON: Deepwater oil drilling can be expensive, time-consuming and a hard sell to investors. But the world’s top energy firms are restarting their search for giant oilfields under the ocean after a two-year lull. A recovery in oil prices to about $50 a barrel from a 12-year low in 2016 is reviving oil majors’ […]
Gold hits lowest since January
Author: ReutersSat, 2017-03-11ID: 1489175462150934800LONDON: Gold fell to its lowest in more than five weeks on Friday. Growing expectations that the US Federal Reserve will raise interest rates this month following a better than expected ADP payrolls report on Wednesday have pushed gold down 3 percent this week, potentially its biggest weekly loss in four months. The metal […]
Trudeau says US border tax will hurt both economies
Author: REUTERSSat, 2017-03-11ID: 1489175462090934500HOUSTON: Canadian Prime Minister Justin Trudeau on Thursday repeated his opposition to a US proposal for an import tax, telling energy executives gathered in Houston a levy would hurt both economies.“Anything that creates impediments at the border, extra tariffs, new taxes is something we are concerned with,” Trudeau said, adding: “You are going to […]
Core inflation still too low: ECB
Author: ReutersSat, 2017-03-11ID: 1489174756080860900FRANKFURT: The European Central Bank (ECB) has opted against any change to its stimulus programs even though economic growth across the 19-country euro zone appears to be picking up steam and inflation has risen to the bank’s targets.In a press briefing Thursday after the bank kept policy unchanged, President Mario Draghi argued that the […]
Carmakers eye more UK suppliers to handle Brexit
Author: ReutersSat, 2017-03-11ID: 1489174756120861500GENEVA: As Britain prepares to leave the EU, some carmakers are considering softening the blow of any tariffs by sourcing more parts locally and producing more models they can sell domestically rather than export.Eighty percent of UK-assembled vehicles are exported and they could face tariffs of up to 10 percent if Britain has to […]
Wall St. ends up; jobs data points to economic strength
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks rose on Friday after a solid jobs report pointed to strength in the domestic economy and supported expectations the Federal Reserve will raise interest rates next week. Indexes ended lower for the week, however, with the S&P 500 and Nasdaq breaking a six-week streak of gains. […]
Some bank bulls grow wary on policy uncertainty
By Sinead Carew (Reuters) – Bank shares have been the runaway winners of the post-election U.S. stock market boom as investors wagered that higher interest rates, lighter regulation, lower taxes and faster economic growth would boost profits for lenders. Up 32 percent since the election of Donald Trump, the S&P 500’s bank index has outpaced […]
U.S. extends leniency programme for companies that disclose bribery
By Joel Schectman MIAMI (Reuters) – The U.S. Justice Department will extend a programme that offers companies leniency if they voluntarily tell authorities when employees may have paid bribes, a senior official said on Friday. The programme was set to expire on April 5, after a one-year pilot period but will now be continued indefinitely […]
U.S. auto recalls hit record high 53.2 million in 2016
By David Shepardson WASHINGTON (Reuters) – Automakers recalled a record 53.2 million vehicles in 2016 in the United States after a massive expansion of the callback to replace Takata Corp air bag inflators, the U.S. Transportation Department said on Friday. Under aggressive enforcement by the Obama administration, automakers issued a record 927 recall campaigns, up […]
Qatar's Ambassador Presents Credentials to WTO Director -General
Geneva, March 11 (QNA) – Director-General of the World Trade Organization (WTO) Roberto Azevedo met in Geneva on Saturday with HE Ambassador Ali Khalfan Al Mansouri, who presented his credentials as Ambassador of the State of Qatar to the World Trade Organization in Geneva. Talks during the meeting dealt with means of enhancing cooperation between […]
