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Transnet’s CEO Gama fights for his job as suspension looms

Transnet chief executive officer Siyabonga Gama sent a letter to the chairman of South Africa’s state-owned port and rail operator in a bid to fight …

South Africa

EFF tables bill to make the Sarb state-owned

The EFF put forward an amendment to the law governing the central bank that would make the institution state-owned and see its directors appointed by …

South Africa

All-Electric Ships on the Horizon as Rolls Launches New Battery System

By Áine Quinn (Bloomberg) — Rolls-Royce Holdings Plc has begun offering its own battery-powered ship engines in a move that signals the gathering …

Merchant Shipping

Kenya to Revive National Shipping Line in Partnership With MSC

By Helen Nyambura (Bloomberg) — Kenya plans to revive a state-owned shipping line with the help of the Mediterranean Shipping Co., President Uhuru …

Africa

Maersk Said to Plan Drilling Spinoff to Focus on Transport

By Manuel Baigorri, Ruth David and Matthew Miller (Bloomberg) — A.P. Moller-Maersk A/S is planning to spin off its drilling unit instead of pursuing …

Oil & Gas Industry

Duterte Plays Catch-Up on Defense Spending With Cash for Troops

<b>By Claire Jiao</b><p>President Rodrigo Duterte is beefing up the ranks of the Philippines’ military and police as his government continues to wage its war …

Asia

Singapore Home Sales Soar in July on Minute-to-Midnight Buying

<b>By Klaus Wille</b><p>Private home sales in Singapore soared to the highest in 16 months in July as buyers rushed to snap up properties hours before curbs …

Real Estate

Trade Spat Threatens U.S. LNG Exporters

By Rachel Adams-Heard and Ryan Collins (Bloomberg) — This winter could be a bleak one for America’s natural gas exporters as the fastest-growing …

Natural Gas

Unions reject gold wage offers, council says

Labor unions representing workers at gold mines in South Africa rejected pay increases from four producers at the conclusion of talks in Johannesburg …

South Africa

SA asked US to ‘back away’ from punitive tariffs

South Africa has asked the US to not implement punitive tariffs that could make its economy collateral damage in the trade war with China, according …

South Africa

IMO's Low Sulphur Fuel Regs Seen Cutting Demand for Canadian Oil

By Robert Tuttle (Bloomberg) — As if pipeline bottlenecks weren’t enough, Canadian heavy oil producers are facing a new barrier to marketing their …

Oil

Morgan Stanley Intern Nabs Senior SE Asia Role in 7 Years

<b>By Joyce Koh</b><p>Morgan Stanley is promoting a pair of dealmakers in Southeast Asia, with one banker rising from intern to a senior position in just seven …

Morgan Stanley

Bitcoin sinks below $6 000 as almost everything crypto tumbles

Bitcoin dropped below $6 000 and dozens of smaller digital tokens tumbled as this month’s selloff in cryptocurrencies showed few signs of letting …

Cryptocurrency

Flood Kills Six in Philippines, Tens of Thousands Displaced

<b>By Cecilia Yap</b><p>At least six people died and tens of thousands fled their homes as monsoon rain triggered flooding in the Philippine capital and nearby …

Financial Markets

Turkey contagion infects rand with steepest plunge since 2008

The rand dropped the most in almost a decade and Mexico’s peso declined Monday as Turkey’s ongoing economic crisis sent investors fleeing from …

Stock Markets

Ruble dives the most since the oil crash in 2015

Some of Wall Street’s biggest banks are warning investors to steer clear of Russian assets after the ruble’s worst week since the 2015 oil crash amid …

Morgan Stanley

Europe Shows It’s Getting Serious About Buying U.S. LNG

By Anna Shiryaevskaya and Naureen S. Malik (Bloomberg) — European nations are far behind Mexico and China when it comes to receiving liquefied …

Natural Gas

Iran Forced to Rely on Own Tanker Fleet Even as Oil Exports Fall

By Julian Lee (Bloomberg) — It is still nearly three months until U.S. sanctions on Iran’s oil exports snap back into force, but they are already …

Merchant Shipping

Singapore's Best Stock Rises From the Ashes of Uber's Demise

<b>By Livia Yap</b><p>It’s been a heck of a ride for ComfortDelGro Corp. Ltd.<p>In a little over seven months, Singapore’s largest taxi company has reversed …

South-east Asia

Maersk Shares Rise as Market Sees Silver-Lined Profit Warning

By Christian Wienberg (Bloomberg) — Shares in A.P Moller-Maersk A/S rose as much as 6.9 percent, the most since December 2016, after the world’s …

Profit

Surging Philippine Prices Boost the Case for Another Rate Hike

<b>By Ditas Lopez</b><p>Consumer prices in the Philippines increased at the fastest pace in more than five years in July, boosting the case for the central …

Central Banks

Things Are Looking Up for the Philippine Peso

<b>By David Finnerty</b><p>Things are looking up for the Philippine peso after it suffered one of the biggest losses in the region in the first half of the …

Central Banks

Billions at Risk as China Proposes 25% Tariffs on U.S. LNG Exports

By Naureen S. Malik (Bloomberg) — China is proposing a 25 percent tariff on imports of U.S. liquefied natural gas as retaliation for the Trump …

Natural Gas

World’s Biggest Passenger Jet Starts New Life

<b>By Richard Weiss and Benjamin Katz</b><p>Danish tourists bound for Cyprus on Wednesday were set to get more room than they bargained for as the first used …

Thomas Cook

Oil Industry Starts Eradicating Bunker Fuel Supply Before 2020 Sulphur Cap

By Jack Wittels and Alfred Cang (Bloomberg) — Shippers beware: oil refineries are starting to eradicate stockpiles of sulfur-rich fuel that powers …

Oil & Gas Industry

CompCom granted extension on Chevron deal

The Competition Commission was granted an extension of 15 working days to consult on a proposed deal in which a black-investor group backed by …

South Africa

AB InBev reorganises as marketing weighs on second quarter

Anheuser-Busch InBev NV streamlined its global management structure after marketing spending on the soccer World Cup hurt second-quarter profit …

Asia Pacific

Singapore Family Office Hoards Cash Amid China-U.S. Tensions

<b>By Chanyaporn Chanjaroen</b><p>Kamet Capital Partners Pte, a Singapore-based family office that invests on behalf of wealthy Chinese, said it’s hoarding …

Bank of America

Nedbank first-half earnings jump as Ecobank returns to profit

Nedbank Group said first-half earnings rose between 23% and 28% from a year ago after Ecobank Transnational, the African lender in which it holds a …

Business (Canada)

Millennials are making a costly investment mistake

Millennials think cash is the best long-term investment. Unsurprisingly, they’re not seeing good returns.<p>Almost one in three millennials said cash …

Interest Rates