Commodity traders must go digital or face extinction: report
As commodity margins flat-line, the number of traders will shrink as existing trading firms consolidate and digital rivals emerge, U.S. consultancy Oliver Wyman said in Read more
Global Economy
BP sells U.S. crude oil to Thailand, Australia for first time: sources
BP plans to ship 1 million barrels of U.S. crude to Thailand and Australia for the first time, three trade sources said on Wednesday, as Read more
Oil majors use drones to weather oil price
Oil majors including Statoil, Shell and Chevron are experimenting with various technologies, from drones and drill design to data management, to drive down costs and Read more
Oil prices under pressure as Iraq resists joining output cut
Oil prices came under pressure on Monday as Iraq said it wanted to be exempt from an OPEC deal to cut production, though losses were Read more
Major banks mark first-ever international trade using blockchain tech
The first cross-border transaction between banks using multiple blockchain applications has taken place, Commonwealth Bank of Australia and Wells Fargo & Co said on Monday, Read more
World Bank raises 2017 crude oil prices’ forecast to $55 per barrel
The World Bank yesterday revised upwards its 2017 forecast for crude oil prices, raising it from $53 per barrel to $55 per barrel as members Read more
15 years after, Africa accounts for $4.1b non-oil export under AGOA
• Infrastructural deficit limits bilateral ties The United States Government has stated that Nigeria and other African countries accounted for $4.1 billion worth of non-oil Read more
Netflix shares soar as video service posts jump in subscribers
Netflix has shaken off growth worries with new subscriber numbers that beat estimates and sent its shares soaring. The video streaming company added 3.2 million Read more
China sends two astronauts to space lab
China launched two astronauts into space Monday, official media said, on a mission to its orbiting laboratory as the country works towards setting up its Read more
More airlines impose Samsung Note 7 ban
German airline Air Berlin said in a security note on its website that the carriage of Samsung Galaxy Note 7 is prohibited on all flights Read more
PepsiCo sets global target for sugar reduction
PepsiCo Inc (PEP.N) has set a target for reducing the amount of sugar in its soft drinks around the world as part of a suite Read more
China’s longest space mission launches
China’s Shenzhou 11 “heavenly vessel” launched Monday (7:30 p.m. Sunday ET) from Jiuquan Satellite Launch Center in the Gobi Desert. The launch was shown on Read more
Coca-Cola to acquire ABInBev share in African subsidiary
Coca-Cola intends to buy the stake global beer giant Anheuser-Busch InBev holds in Coca-Cola Beverages Africa, the two companies announced Tuesday. The proposed deal follows Read more
OPEC members lose $1trn to oil price crisis
The over two years of oil price crisis has cost the Organisation of the Petroleum Exporting Countries (OPEC) more than $1 trillion in losses and Read more
Portugal’s Guterres poised to be next UN Secretary-General
Former Portuguese Prime Minister Antonio Guterres is poised to be the ninth United Nations Secretary-General and is expected to be formally recommended to the 193-member Read more
IMF laments rising debt profile of Nigeria
Rising debts in the public and private sectors have become a source of worry to the International Monetary Fund (IMF), which described the development as Read more
Automakers partner to compete against Apple and Google for autonomous car services
Alarmed by the threat posed by Silicon Valley firms developing autonomous driving systems, carmakers at this week’s Paris Motor Show showed signs they are ready Read more
Maersk Oil eyes Shell’s North Sea assets ahead of spin-off
A.P. Moller-Maersk (MAERSKb.CO) is in talks to buy a portfolio of North Sea assets from Royal Dutch Shell (RDSa.L) as the Danish group considers adding Read more
Chinese Imports Rise for First Time in Almost 2 Years
China’s imports rose 1.5 percent in August, marking the first increase in almost two years, while exports dropped 2.8 percent, indicating the world’s second-largest economy Read more
Exclusive – SWIFT discloses more cyber thefts, pressures banks on security
SWIFT, the global financial messaging system, on Tuesday disclosed new hacking attacks on its member banks as it pressured them to comply with security procedures Read more
Qantas Airline ‘stronger than ever’, announces record profit of $1.53b
(9News) Australia’s national carrier Qantas will return a further $500 million of capital to shareholders after Australia’s biggest airline reported an 84.7 percent jump in Read more
Oil prices fall on doubts producers can agree output restraint
By Mark Tay | SINGAPORE Oil prices fell away from 5-week highs on Wednesday as analysts doubted possible producer talks to rein in ballooning oversupply Read more