Russia’s largest oil producer Rosneft said on Monday it had successfully closed a deal to buy a 49 percent stake in Indian private refiner Essar Oil Limited (EOL). An investment consortium comprising Trafigura and UCP has also announced the closure of their acquisition of a separate 49 percent share of EOL. “Together with our partners […]
Read moreThe financial crisis was not just a wake up call for the world’s biggest banks – for some, it was a sign of opportunity. For Anne Boden, the CEO of British mobile-only challenger bank Starling, it was a time to totally rethink the financial services. Speaking with CNBC at her London office, Boden looked back […]
Read moreChina now has a list of what it considers the “right” kind of outbound investment as the government continues its crackdown on foreign spending. The new rules prohibit investments in core military technology and anything that endangers national security, along with the gambling and sex industries, according to a government statement released Friday. Outbound deals […]
Read moreFewer U.S. soldiers will be participating in joint military drills with South Korean forces this year — a move Washington said isn’t designed to pacify Pyongyang, but many analysts are skeptical. Around 17,500 U.S. service members will be participating in the 10-day joint exercise, which began Monday, the U.S. Department of Defense said in a […]
Read morePolitics and markets no longer intersect, but essentially are occupying the same terrain. After months of not paying attention to the tumult in Washington, Wall Street is now taking notice, and that sets up an interesting week ahead for investors in a month that is often a dull slog lower. Friday’s surprise exit of Steve […]
Read moreAmerica’s annual joint military exercises with South Korea always frustrate North Korea. The war games set to begin Monday may hold more potential to provoke than ever, given President Donald Trump’s “fire and fury” threats and Pyongyang’s as-yet-unpursued plan to launch missiles close to Guam. Will the allies keep it low-key, or focus on projecting […]
Read moreThe founder of an online Chinese luxury retailer has been arrested after being charged with smuggling 438 million yuan ($65.67 million) worth of goods into the country, the official China Daily reported on Monday, citing the customs authority. Ji Wenhong, the founder of Xiu.com, an online e-commerce website that specializes in imported luxury goods, was […]
Read moreSearch and rescue efforts were underway Monday morning after the USS John S. McCain collided with a merchant ship, the U.S. 7th Fleet said in a notice. The ship, a guided-missile destroyer, was involved in the collision while on its way to Singapore for a routine port visit, the notice said. The incident happened east […]
Read moreAsia markets are expected to digest political developments in Washington as U.S.-South Korea joint military drills kick off on Monday. Steve Bannon on Friday became the latest high-ranking official to leave the White House when he vacated the role of President Donald Trump’s chief strategist. Media reports said Bannon’s resignation had been submitted earlier in […]
Read moreConfidence at Japanese manufacturers rose to its highest level in a decade in August led by materials producers, a Reuters poll showed, a further sign of broadening recovery in the economy. The Reuters’ monthly poll — which tracks the Bank of Japan’s closely watched quarterly tankan — found the service-sector mood fell but still remained […]
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