Masayoshi Son: The risk-addicted billionaire behind SoftBank:
"Masayoshi Son, the risk-addicted billionaire who built Japan’s SoftBank into a global internet powerhouse, is a man who moves fast to seize whatever he has set his eyes on.
Less than a month after Britain voted to leave the EU, Mr Son clinched a deal to acquire UK chip designer Arm Holdings for £24.3bn. It was the largest Asian takeover of a British company. But the audacious deal was not enough to satisfy the 59-year-old known as Masa, who enjoys his reputation for having big and crazy ideas.
After the summer had passed, Mr Son was off to Riyadh to meet Prince Mohammed bin Salman, Saudi Arabia’s powerful deputy crown prince, to launch a $100bn technology fund. Armed with fresh funding power, Mr Son was next spotted in New York, forging ties with President-elect Donald Trump with a $50bn pledge to invest in US start-ups."
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Monday, 12 December 2016
Iraq to abide by OPEC cut, expects output growth in future | Reuters
Iraq to abide by OPEC cut, expects output growth in future | Reuters:
"Iraq is committed to cutting its production to comply with a global pact to support prices, the country's oil minister said, adding he was nevertheless confident OPEC's No. 2 producer has the potential to boost its output in coming years.
Iraq is reviewing several options to implement the reduction, including cuts from Kirkuk oilfield, southern fields being developed by oil majors or other state-run areas, Oil Minister Jabar al-Luaibi said in an interview.
"The cuts will aim at the figures we agreed with OPEC definitely, but (for) the areas of the cuts there are many options on the table," Luaibi told Reuters on Saturday.
"
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"Iraq is committed to cutting its production to comply with a global pact to support prices, the country's oil minister said, adding he was nevertheless confident OPEC's No. 2 producer has the potential to boost its output in coming years.
Iraq is reviewing several options to implement the reduction, including cuts from Kirkuk oilfield, southern fields being developed by oil majors or other state-run areas, Oil Minister Jabar al-Luaibi said in an interview.
"The cuts will aim at the figures we agreed with OPEC definitely, but (for) the areas of the cuts there are many options on the table," Luaibi told Reuters on Saturday.
"
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MIDEAST STOCKS-UAE, Qatar, Egypt gain on oil but Saudi slips as investors focus on budget | Reuters
MIDEAST STOCKS-UAE, Qatar, Egypt gain on oil but Saudi slips as investors focus on budget | Reuters:
"Stock markets in the United Arab Emirates and Qatar jumped on Monday as crude oil prices shot to their highest since mid-2015, but the uptrend in Saudi Arabia lost steam as investors anticipated the state budget.
Brent crude soared as high as $57.89 per barrel on Monday morning in response to the weekend deal between OPEC and non-OPEC producers to cut output.
The index in Dubai, which was closed on Sunday for a public holiday, climbed 2.8 percent to 3,657 points, its highest finish this year, in the heaviest trade since March.
"
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"Stock markets in the United Arab Emirates and Qatar jumped on Monday as crude oil prices shot to their highest since mid-2015, but the uptrend in Saudi Arabia lost steam as investors anticipated the state budget.
Brent crude soared as high as $57.89 per barrel on Monday morning in response to the weekend deal between OPEC and non-OPEC producers to cut output.
The index in Dubai, which was closed on Sunday for a public holiday, climbed 2.8 percent to 3,657 points, its highest finish this year, in the heaviest trade since March.
"
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Qatar Airways wants to swap Airbus A320neos for A321neos | The National
Qatar Airways wants to swap Airbus A320neos for A321neos | The National:
"Qatar Airways is in talks with Airbus to convert its order for up to 80 A320neos to the larger A321neo, its chief executive said on Monday.
The Middle East airline has refused to accept four A320neos so far this year over claims of performance issues with the aircraft’s engines, a spokeswoman told Reuters.
"We are in negotiations with Airbus about how we can continue our relationship and keep our order on track minus the ones that we cancelled," chief executive Akbar Al Baker said in Doha.
"
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"Qatar Airways is in talks with Airbus to convert its order for up to 80 A320neos to the larger A321neo, its chief executive said on Monday.
The Middle East airline has refused to accept four A320neos so far this year over claims of performance issues with the aircraft’s engines, a spokeswoman told Reuters.
"We are in negotiations with Airbus about how we can continue our relationship and keep our order on track minus the ones that we cancelled," chief executive Akbar Al Baker said in Doha.
"
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Arabian Gulf shares up after oil prices rise | The National
Arabian Gulf shares up after oil prices rise | The National:
"Shares across the Arabian Gulf surged on Monday morning, after oil prices rose to their highest level since July 2015.
Brent crude futures surged rose by more than four per cent to around $56.71 a barrel during morning trading, following the agreement on Saturday by non-Opec oil producers to cut output by 558,000 barrels per day.
Shares in the UAE surged at the open, following gains across most Asian bourses."
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"Shares across the Arabian Gulf surged on Monday morning, after oil prices rose to their highest level since July 2015.
Brent crude futures surged rose by more than four per cent to around $56.71 a barrel during morning trading, following the agreement on Saturday by non-Opec oil producers to cut output by 558,000 barrels per day.
Shares in the UAE surged at the open, following gains across most Asian bourses."
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Goldman Says Saudis Wrong to Rule Out U.S. Shale Oil Rebound - Bloomberg
Goldman Says Saudis Wrong to Rule Out U.S. Shale Oil Rebound - Bloomberg:
"Saudi Arabia is wrong to think that U.S. shale production won’t respond to higher oil prices in 2017, according to Goldman Sachs Group Inc.
While crude may rise to over $60 a barrel if OPEC members and other nations cut production as promised, a rebound in U.S. shale output would bring prices back to $55, the bank’s forecast for the first half of next year, it said in a report. Saudi Energy Minister Khalid al-Falih said on Saturday he didn’t expect a big supply response from American shale producers in 2017."
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"Saudi Arabia is wrong to think that U.S. shale production won’t respond to higher oil prices in 2017, according to Goldman Sachs Group Inc.
While crude may rise to over $60 a barrel if OPEC members and other nations cut production as promised, a rebound in U.S. shale output would bring prices back to $55, the bank’s forecast for the first half of next year, it said in a report. Saudi Energy Minister Khalid al-Falih said on Saturday he didn’t expect a big supply response from American shale producers in 2017."
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Oil output cut deal aimed at inventories, not just raising prices: Goldman Sachs | Reuters
Oil output cut deal aimed at inventories, not just raising prices: Goldman Sachs | Reuters:
"Goldman Sachs said the formal agreement by non-OPEC oil producers this weekend in Vienna to help curb output was reached with a goal of "normalization" of inventories and not necessarily just at raising oil prices.
The Organization of the Petroleum Exporting Countries (OPEC) had previously agreed to cut output by 1.2 million barrels per day (bpd), and on Saturday, 11 non-OPEC producers agreed to join the effort and reduce output by 558,000 bpd.
The cut was short of an initial target of 600,000 bpd but still the first OPEC/non-OPEC output deal since 2001 and the largest contribution by non-OPEC producers ever."
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"Goldman Sachs said the formal agreement by non-OPEC oil producers this weekend in Vienna to help curb output was reached with a goal of "normalization" of inventories and not necessarily just at raising oil prices.
The Organization of the Petroleum Exporting Countries (OPEC) had previously agreed to cut output by 1.2 million barrels per day (bpd), and on Saturday, 11 non-OPEC producers agreed to join the effort and reduce output by 558,000 bpd.
The cut was short of an initial target of 600,000 bpd but still the first OPEC/non-OPEC output deal since 2001 and the largest contribution by non-OPEC producers ever."
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Oil prices soar on global producer deal to cut crude output | Reuters
Oil prices soar on global producer deal to cut crude output | Reuters:
"Oil prices shot to their highest levels since mid-2015 on Monday after OPEC and other producers reached their first deal since 2001 to jointly reduce output in order to rein in oversupply and prop up markets.
Brent crude, the international benchmark for oil prices, soared to $57.89 per barrel in overnight trading between Sunday and Monday, the highest level since July 2015.
U.S. West Texas Intermediate (WTI) crude also hit a July 2015 high of $54.51 a barrel."
'via Blog this'
"Oil prices shot to their highest levels since mid-2015 on Monday after OPEC and other producers reached their first deal since 2001 to jointly reduce output in order to rein in oversupply and prop up markets.
Brent crude, the international benchmark for oil prices, soared to $57.89 per barrel in overnight trading between Sunday and Monday, the highest level since July 2015.
U.S. West Texas Intermediate (WTI) crude also hit a July 2015 high of $54.51 a barrel."
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