Wood Mackenzie cited changes to tax and royalty laws and uncertainty over oil reform as the main reasons for delays, although it also estimated that the three projects are “not economically viable” under current terms, and with oil under $60 per barrel. … [Read more...] about Nigeria risks losing $2.7bn to delays in deepwater oil field projects
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Rosneft said the investments would be used for projects such as restricting CO2 emissions and utilization of associated petroleum gas, a by-product of oil output. Rosneft’s “green” investments for the past five years stood at 240 billion roubles ($3.8 billion). … [Read more...] about Russia’s Rosneft pledges $5 billion for ‘green’ causes over next five years
NEW DELHI: Media shares were trading on a mixed note in Wednesday's afternoon session. Shares of Den Networks (up 3.94 per cent), Zee Entertainment Enterprises (up 3.23 per cent), Dish TV India (up 2.28 per cent) and Zee Media Corporation (up 2.16 per cent) were the top performers in the index. Network 18 Media & Investments (down 2.39 per cent), DB Corp (down 1.48 per cent), Sun TV Network (down 1.22 per cent) and TV18 Broadcast (down 1.14 per cent) were trading lower. The Nifty Media index was trading 1 per cent up at 2083.05 around 12:06 pm. Benchmark NSE Nifty50 index was down 79.30 points at 11,251.75 while the BSE Sensex was down 209.37 points at 37,773.37. Among the 50 stocks in the Nifty index, 10 were trading in the green, while 40 were in the red. Shares of Vodafone Idea, YES Bank, Indian Oil Corp, Ashok Leyland, M&M Financial, SAIL, Dish TV India, PNB, IDFC First Bank and GMR Infra were among the most traded shares on the NSE. … [Read more...] about Share market update: Media shares mixed; Den Networks climbs 4%
TOKYO: US stock futures slipped from record levels on Tuesday after Apple Inc said it will not meet its revenue guidance for the March quarter as the coronavirus outbreak slowed production and weakened demand in China. The warning from the most valuable company in the United States sobered investor optimism that economic stimulus by Beijing and other countries would protect the global economy from the effects of the epidemic. S&P500 e-mini futures dipped as much as 0.2 per cent in early Asian trade. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.20 per cent while Japan's Nikkei slid 0.59 per cent. Apple told investors its manufacturing facilities in China have begun to re-open but are ramping up more slowly than expected. "Apple is saying its recovery could be delayed, which could mean the impact of the virus may go beyond the current quarter," said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities. "If Apple shares … [Read more...] about US stock futures retreat, Asia dips after Apple warns on virus impact
With inflation lower, wages growing more slowly than predicted and the global outlook darker, the OBR will announce on Wednesday that it has cut its 2016 growth forecast. The economy is going to expand less rapidly and from a lower starting point, with knock-on consequences for the exchequer in the form of lower tax receipts. It is not all bad news, though. Lower inflation means that interest rates will stay lower for longer than previously expected, and this means it will be cheaper for the government to finance its borrowing. Lower debt interest payments will help mitigate the impact of less bountiful tax receipts. … [Read more...] about Budget 2016: is George Osborne asleep at the wheel of UK’s economy?