European stocks are expected to open lower Tuesday, dragged down by negative sentiment in China and the U.S. The FTSE 100 is seen off by 7 points at 7,409; the German DAX is set to start lower by 8 points at 13,080 and the CAC 40 is seen down by 5 points at 5,336. In […]
Read moreOn June 26, 2013, LGBT Americans across the country were celebrating the historic Supreme Court opinion issued by Justice Anthony Kennedy overturning the Defense of Marriage Act (DOMA), the pernicious law signed by President Bill Clinton in 1996 that prevented the federal government from recognizing same-sex civil marriages. The LGBT conservatives of Log Cabin Republicans […]
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Jim O’Neill says Chinese consumers are ‘easily' most important to global economy — and here’s why
China’s growth rate and the burgeoning relevance of its consumers are “easily” the most important influences on the global economy, according to the former chairman of Goldman Sachs Asset Management. Jim O’Neill said Monday that while it had been “fashionable” to talk about India outpacing China as the fastest-growing major economy, it should not be […]
Read moreA sharp slump in the price of sterling early on Monday is unlikely to continue, according to currency experts, who believe that fears over U.K. Prime Minister Theresa May’s leadership are over exaggerated. The pound dropped 0.9 percent Monday morning to $1.3070, aided by a report by the U.K.’s Sunday Times newspaper which revealed a […]
Read moreSaudi Aramco’s plan to take a portion of its business public next year will go ahead as scheduled in 2018, Oman’s oil minister told CNBC Monday. At an energy industry conference in Abu Dhabi, Oman’s Mohammed bin Hamad al-Rumhi was pressed for a definitive answer regarding his expectations over Saudi Aramco’s potential IPO next year. […]
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Oil industry should not worry about peak demand until 2040, OPEC secretary general says
OPEC sees no reason for investors to expect oil to hit peak demand before 2040, the organization’s secretary general said Monday. Speaking at the Abu Dhabi International Petroleum Exhibition Conference (ADIPEC), General Mohammed Barkindo said that the cartel’s projections did not foresee oil demand cresting over the coming decades. Instead, he argued, a dramatic increase […]
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OPEC likely to extend supply cuts in bid to rebalance the market, UAE energy minister says
United Arab Emirates Minister for Energy Suhail al-Mazroui said Monday that he expected OPEC and non-OPEC countries to extend global supply cuts at a closely-watched meeting at the end of the month. Speaking at the Abu Dhabi International Petroleum Exhibition Conference (ADIPEC), al-Mazroui said: “My prediction is OPEC will continue to do what it takes […]
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Russia's Rusal third-quarter core earnings surge 30 percent year on year
Russian aluminium giant Rusal‘s core earnings beat expectations in the third quarter, helped by rising aluminium prices and greater sales of higher margin products. Third quarter earnings before interest, taxation, depreciation and amortisation (EBITDA) surged by 30 percent to $549 million from $421 million in the third quarter of 2016 Analysts had expected core earnings […]
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UAE's state-owned oil company is poised to sell at least 10% of its fuel distribution unit
Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates (UAE) oil giant, said Monday it plans to sell at least 10 percent of its stake in its fuel retail business in an initial public offering (IPO) next month. The listing will be on the Abu Dhabi bourse and is expected before the end of […]
Read moreEuropean stocks are expected to open higher Monday as investors focus on earnings, while keeping an eye on tax reform plans in the U.S. and political woes in the U.K. The FTSE 100 is seen up by 20 points at 7,453; the German DAX is seen higher by 6 points at 13,124 and the CAC […]
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