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Sunday, 19 August 2012

Qatar to Increase Xstrata Stake Before Vote, Sunday Times Says - Bloomberg

Qatar Holding LLC will continue to raise its stake in Xstrata Plc as it seeks a higher offer for the mining company from Glencore International Plc (GLEN), the Sunday Times reported, without saying where it got the information.
Qatar boosted its ownership of Xstrata to 11.7 percent as of Aug. 17, the newspaper said. Qatar Holding may be able to block Glencore’s offer for Xstrata in a Sept. 7 vote with a 12 percent stake, the Sunday Times said, citing bankers it didn’t identify.

Saudi Arabia Oil Output Tops Russia in June, Jodi Data Show - Bloomberg

Saudi Arabia pumped crude at the highest level in more than three decades in June, overtaking Russia as the world’s largest oil producer during the month, according to the Joint Organization Data Initiative.
The desert kingdom’s output rose 3 percent to 10.1 million barrels a day in June from May as it exported the most in a month since November 2005, according to statistics the government submitted to OPEC and posted on JODI’s website today.
Russia pumped 9.9 million barrels a day of crude oil in the same month, according to the initiative known as JODI. The Russian data exclude natural-gas liquids, JODI said.

Telecom scam: CBI to question Dubai businessman - The Economic Times

CBI will soon call a Dubai-based businessman for questioning in connection with alleged laundering of funds as a fall out of 2G spectrum scam.

The CBI has received an input from Research and Analysis Wing about the money parked in Dubai accounts of companies owned by the businessman.

CBI sources said the note from RAW gives details of money laundering deals between a Dubai-based individual and a Chennai-based business group.