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Saudi Arabia, OPEC's de facto leader, will work for oil market stability at a time of heightened U.S.-Iranian tension and wants to see sustainable prices and demand growth, the kingdom's energy minister said on Monday. Prince Abdulaziz bin Salman said it was too early to talk about whether the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, would continue with production curbs agreed under a deal that expires in March. "As tension remains high in our region, Saudi Arabia will continue to do all it can do to ensure stable oil markets," the minister told an energy conference....
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that......
(Bloomberg) -- Siemens AG said it intends to honor a controversial contract to supply signaling systems to an Australian coal mine, defying the demands of activists who said they will continue protests in Germany on Monday.The company will establish a sustainability committee that will have the power to stop or escalate projects, but the company will ultimately continue with the Adani contract, Chief Executive Officer Joe Kaeser said in a statement on Sunday.“I do realize, most of you would have hoped for more,” Kaeser said in the statement. “While I do have a lot of empathy for environmental matters, I do need to balance different interests of different stakeholders.”Fridays for Future activists, including Greta Thunberg, put pressure on Siemens to renounce the contract and not work with Adani Power Ltd. on the planned Carmichael coal mine in Queensland.“Siemens’ announcement that it will continue working on Adani’s coal mine while bushfires rage...
Let's talk about the popular Wilmar International Limited (SGX:F34). The company's shares saw a significant share......
Let's talk about the popular BNP Paribas SA (EPA:BNP). The company's shares received a lot of attention from a......
(Bloomberg) -- Shares of Chinese electric-vehicle makers including Warren Buffett-backed BYD Co. jumped after the government signaled it won’t continue reducing subsidies for the industry at the same pace this year.Miao Wei, the minister for industry and information technology, told an audience in Beijing on Saturday EV-purchase subsidies won’t be cut July 1, like they were on that date last year.“Please rest assured. There wont be a further cut on July 1 this year,” Miao said in a speech at an industry forum. The audience, which included representatives from major automakers, was thrilled enough to applaud.Though the minister later clarified his comments, investors and the industry interpreted his remarks as good news for EV manufacturers that were hit by subsidy reductions last year. Sales of new energy vehicles have dropped for six straight months in China since the government scaled back handouts in July.A few hours after his speech, the minister’s...
