Author: Press Room
The Baku-Tbilisi-Ceyhan (BTC) pipeline, a crucial conduit for Caspian oil to global markets, has achieved a significant landmark by transporting over 4.3 billion barrels of oil since it became operational 17 years ago. This announcement was made by Colin Allan, BP (NYSE:)’s Vice President Finance, at the SPE Annual Caspian Technical Conference in Baku today. The BTC pipeline stretches across three countries—Azerbaijan, Georgia, and Türkiye—with respective lengths of 443 km, 249 km, and 1,076 km. It is engineered to handle an impressive capacity of over 50 million tons of crude annually. The pipeline primarily transports Azeri-Chirag-Gunashli and Shah Deniz condensate.…
EHang Q3 Earnings Preview
© Reuters. FILE PHOTO: Smartphone with displayed Binance logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo By Tom Wilson and Elizabeth Howcroft LONDON (Reuters) – Crypto investors have welcomed the prospect of a resolution of a long-running U.S. criminal investigation into Binance, reckoning any deal that allows the major exchange to continue operating would remove a nagging risk to the wider market. The U.S. Justice Department (DOJ) is seeking over $4 billion from Binance as part of a proposed resolution of its probe, Bloomberg reported on Monday, citing…
The National Republican Senatorial Committee (NRSC) launched attacks against Sen. Krysten Sinema, I-Ariz., and Rep. Ruben Gallego, D-Ariz., on Monday in a new ad.The 30-second ad labeled Gallego as “rotten Ruben Gallego” and said he had “abandoned his wife when she was nearly nine months pregnant, then married a D.C. lobbyist.”Then, it slammed Sinema – a former Democrat now registered as an Independent – claiming she “voted with President Biden’s agenda 100% of the time,” including the administration’s progressive energy initiatives and the COVID-era American Rescue Plan.”Deadbeat Dad, or liberal Democrat? Arizonans deserve a better choice,” the ad, titled, “A Choice,” concluded.GOP,…
Foreign investors have dumped more than $25 billion worth of Chinese shares this year, the Financial Times said. That means 77% of the money they previously invested in China’s stock market is now gone. Meanwhile, other regional markets have gained, further diminishing China’s competitiveness. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app More than three-fourths of offshore investment in Chinese stocks has been withdrawn this year, with foreign net purchases nearing their smallest annual amount since 2015, the Financial Times reported. The capital flight has…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.US data analytics group Palantir has secured an NHS England contract worth £330mn to develop a new patient data platform, the health service announced on Tuesday.NHS England said the new software, called the Federated Data Platform, will make it “easier for staff to access key information to provide improved and more timely patient care” by bringing together existing patient data sets. It added that the platform will be rolled out next year.Led by chief executive Alex Karp and co-founded by Peter Thiel,…
© Reuters. FILE PHOTO: Chancellor Olaf Scholz speaks next to Finance Minister Christian Lindner and Economy and Climate Minister Robert Habeck during a hearing at Germany’s lower house of parliament Bundestag in Berlin, Germany, November 15, 2023. REUTERS/Annegret By Holger Hansen and Riham Alkousaa BERLIN (Reuters) -The German government has imposed a freeze on most new spending commitments in what officials on Tuesday said was a necessary step as Chancellor Olaf Scholz’s coalition struggled to find a way out of a deepening budget crisis. The government’s spending plans were thrown into disarray by a court ruling last week that blocked…
© Reuters. FILE PHOTO: Unicredit Bank logo is seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration/File Photo By Mathieu Rosemain and Valentina Za PARIS/MILAN (Reuters) – Amundi is considering offering UniCredit better terms to be able to extend a distribution accord that ties the French asset manager to the Italian bank and its biggest foreign market, a person close to the matter said. Renewing the agreement would protect Europe’s largest fund manager’s foothold in a market that accounts for nearly a fifth of its assets under management (AUM) outside France. Analysts have flagged concerns at the impact on…
© Reuters. FILE PHOTO: A view shows an oil pump jack outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. REUTERS/Alexander Manzyuk/File Photo By Alex Lawler LONDON (Reuters) – Saudi Arabia, Russia and other members of OPEC are scheduled to meet in Vienna on Sunday and could make further changes to an agreement that already limits supply into 2024, according to analysts and OPEC+ sources, to support the market. Saudi Arabia, Russia and other members of the OPEC+ group of oil-producing countries have already pledged oil output cuts of about 5 million barrels per day (bpd), or about…
Matteo Colombo/DigitalVision via Getty Images UBS issued its answers to a series of questions that it believes investors should think about headed into 2024. Among the key themes, the firm called for a preference for quality amid slower economic growth and diversification of both assets and geography. See below the question and answers UBS provided to investors: #1: What’s ahead for equity markets in 2024? UBS advised investors to take a look at increasing their holdings of quality stocks, given the likelihood of slower economic growth during the year, amid “moderate upside for equities.” #2: What should I do with…