New U.S. LNG Export Plans Threatened as Trade War Drags On - Bloomberg

New U.S. LNG Export Plans Threatened as Trade War Drags On - Bloomberg:

Liquefied natural gas may have dodged the latest round of Chinese tariffs on U.S. goods, but plans for new American terminals to ship the fuel abroad are under threat as the trade war escalates.

Tellurian Inc. and other developers will probably delay final investment decisions on multibillion-dollar U.S. LNG export projects to 2020 from this year as the tensions complicate negotiations with potential Chinese gas buyers, according to Bank of America Corp. While LNG isn’t among the goods Beijing will target in retaliatory levies that take effect next month, a 25% duty imposed in June still stands, raised from 10% previously.

The trade dispute is intensifying as roughly a dozen companies look to become part of the so-called second wave of U.S. LNG export terminals expected to start up in the next few years. Smaller developers face intense competition from deep-pocketed oil giants like Exxon Mobil Corp., Qatar Petroleum and Royal Dutch Shell Plc, which didn’t need to sign long-term contracts before greenlighting their projects. A collapse in global gas prices amid a glut of supply from the U.S. to Australia is also pressuring the industry.

Lebanon Cut Deeper Into Junk by Fitch as Diaspora Dollars Dry Up - Bloomberg

Lebanon Cut Deeper Into Junk by Fitch as Diaspora Dollars Dry Up - Bloomberg:

Lebanon’s credit ranking was cut deeper into junk by Fitch Ratings as one of the world’s most indebted nations finds its finances stretched with a dwindling flow of cash from abroad.

The rating company downgraded Lebanon for the first time in three years, taking the sovereign down two notches to CCC, according a statement on Friday. Meanwhile, S&P Global Ratings affirmed Lebanon’s rating at B-, six steps below investment grade and one level higher than Moody’s Investors Service.

“The downgrade reflects intensifying pressure on Lebanon’s financing model, increasing risks to the government’s debt servicing capacity, Fitch said. “While recent policy steps point to nascent fiscal adjustment, a credible medium-term plan to stabilize government debt/GDP is lacking.”

#UAE can be India's ‘valuable partner’ to achieve $5trln economy, says Modi | ZAWYA MENA Edition

UAE can be India's ‘valuable partner’ to achieve $5trln economy, says Modi | ZAWYA MENA Edition:

"We consider the UAE as a valuable partner in realising the objective to reach US$5 trillion economy through a mutually beneficial partnership," said Modi who starts tonight a two-day state visit to the UAE.

"India has embarked on the ambitious, yet achievable, path to be a US$5 trillion economy by 2024-25. We are targeting about US$1.7 trillion dollar worth of investments in the coming five years. To achieve this vision, the government is working to promote inflows from domestic as well as foreign sources," the Prime Minister explained.

He said that the UAE-India relations are "at their best ever", adding that the UAE investments in key sectors in India are growing.