Business is booming.
Browsing Category

Funds

Azerbaijan warns of risks to Caspian energy exports from conflict with Armenia

© Reuters. FILE PHOTO: The logo of SOCAR is seen at a filling station in Bern By Margarita Antidze BAKU (Reuters) - Azerbaijan warned on Saturday about security risks to the oil and gas it supplies to European markets due to the outbreak of hostilities at its border with Armenia. Elshad Nassirov, vice president of Azeri state energy company SOCAR, said on a conference call some of the energy infrastructure involved in shipping Caspian oil and gas to world markets is…

Nigeria’s revenues rise in June on higher oil, tax receipts

© Reuters. ABUJA (Reuters) - Nigeria's gross revenues rose to 653.35 billion naira ($1.7 billion) in June from 517.8 billion naira in May due to higher crude and tax receipts, accountant general Ahmed Idris said, as oil prices recovered from April's crash. The coronavirus outbreak early this year prompted a sharp fall in oil prices, Nigeria's main export, slashing government revenues, weakening its currency and creating a large financing gap for the country. The…

Gold up for 6th Week on Virus, Economy and Biden Prospects

© Reuters. By Barani Krishnan Investing.com - Gold coasted to a sixth-straight winning week on Friday as a new spike in the coronavirus, uncertainty for the global economy, and prospects of a Joe Biden victory in the U.S. presidential election continued to lure investors toward the safe-haven. for August delivery on Comex settled up $9.70, or 0.5%, at $1,810 per ounce. , the real-time indicator of bullion prices, rose by $14, or 0.8%, to $1,811.17. For…

U.S. opens probe of phosphate fertilizer imports from Morocco, Russia

© Reuters. WASHINGTON (Reuters) - The U.S. Commerce Department said on Friday it had opened an investigation into whether producers of phosphate fertilizers in Morocco and Russia are receiving unfair subsidies. Last year, imports of phosphate fertilizers from Morocco were valued at about $729 million and from Russia at about $299 million, the department said in a statement. U.S.-based Mosaic Co (NYSE:) filed the petitions. The U.S. International Trade Commission (ITC)…

Chinese ports hit capacity as virus tests slow clearing: shippers

© Reuters. Cargo ship carrying containers is seen near the Yantian port in Shenzhen, following the novel coronavirus disease (COVID-19) outbreak, Guangdong By Dominique Patton and Muyu Xu BEIJING (Reuters) - Testing of imported food for the novel coronavirus is pushing capacity at some major Chinese ports to their limit, major shippers told customers this week, warning of additional fees and possible diversions to other ports. China stepped up inspections of imported…

Exclusive: EU stimulus funds attract 1,000-plus green projects

© Reuters. FILE PHOTO: European Union flags flutter outside the European Commission headquarters in Brussels By Nina Chestney LONDON (Reuters) - More than 1,000 climate friendly projects could line up for a piece of the EU's post-coronavirus recovery package, as ministers begin to discuss the bloc's 2021-27 budget and economic stimulus fund, according to research seen by Reuters. EU leaders are meeting in Brussels on Friday to try to agree the budget and economic stimulus fund,…

Crude Prices Drift but Gasoline Hits 2-Week Low on Virus Fears

© Reuters. By Geoffrey Smith Investing.com -- Crude oil prices were on autopilot to drift into the weekend in early trade on Friday, with the market having digested the updated outlook for the supply situation for the next months and still largely untroubled by clouds over the outlook for demand. By 9:15 AM ET (1315 GMT), futures were up 0.3% at $40.87 a barrel, while the international benchmark was effectively unchanged at $43.35. , by contrast, were down 1.1% at…

Global Pasta Binge During Covid Boosts Canada Durum-Wheat Demand

© Reuters. Global Pasta Binge During Covid Boosts Canada Durum-Wheat Demand (Bloomberg) -- A global binge on comfort food during Covid-19 pandemic lockdowns is boosting the prospects for a type of Canadian wheat already in heavy demand from pasta lovers. Canada’s durum exports in the 10 months ended May 31 surged 17% from a year earlier amid lackluster crops in Europe and North Africa. The grain is used in everything from pasta and flatbreads to couscous. Just as output sank in…

Oil giants including Exxon set first joint carbon target

2/2 © Reuters. FILE PHOTO: Flames come out of chimeys at the French oil giant Total Refinery in Donges 2/2 By Ron Bousso LONDON (Reuters) - A group of the world's top oil companies, including Saudi Aramco (SE:), China's CNPC and Exxon Mobil (NYSE:), have for the first time set goals to cut their greenhouse gas emissions as a proportion of output, as pressure on the sector's climate stance grows. But the target, set by the 12 members of the Oil and Gas…

Kremlin calls U.S. pipeline sanctions threat unfair competition

© Reuters. MOSCOW (Reuters) - The Kremlin on Thursday accused the United States of using the threat of sanctions against two Russian pipeline projects as a tool of unfair competition to pressure Europe to dissuade it from buying Russian . U.S. Secretary of State Mike Pompeo on Wednesday warned investors in the two projects that they could face sanctions as the Trump administration seeks to curb the Kremlin's economic leverage over Europe and Turkey. Disclaimer:…