Iraq attacks Exxon, says U.S. supports Baghdad
LONDON, Nov 22 (Reuters) – Iraq said on Tuesday it
would slap sanctions on U.S. oil major Exxon Mobil for
signing a deal with the Kurdish region, which it said came
without any approval from either Baghdad or Washington.
“The Iraqi government is considering sanctions, and will
inform the company before they make a public announcement,”
Deputy Prime Minister for Energy Hussain al-Shahristani told an
industry conference in London.
Iraq considering sanctions against Exxon: Shahristani
LONDON (Reuters) – Iraq is considering imposing sanctions on Exxon Mobil (XOM.N: Quote, Profile, Research, Stock Buzz) after its decision to sign a deal with the country’s Kurdish region, Deputy Prime Minister for Energy Hussain al-Shahristani said on Tuesday.
Oil and gas contracts must be approved by the Iraqi government, he said at an Iraq investment conference in London.
In Africa, they’re getting older too
In France, they protested about rising retirement ages. Across the globe in China, the country’s ageing population is expected to dent productivity and growth.
But it’s not only in the more prosperous corners of the world that governments are worrying about how to cope with the needs of increasingly older people.
Wary funds drawn to “synthetic” core euro bonds
LONDON (Reuters) – Worries about the euro zone’s future are crimping the risk appetite of investors who track government bond indices, fuelling demand for customised packages that strip out higher-yielding peripheral debt.
While the money tracking newly-constructed core euro debt indices still appears small, in part due to concerns about missing juicy yields in the event of a political breakthrough, there is intense interest in customising baskets of euro sovereigns to match individual investor views.
RIC (without the B) carry extreme risks, index says
They may be among the only economies left to save the world — or at least the euro zone – but Russia, India and China are extremely risky bets, according to an economic, social and governance scale compiled by risk consultancy Maplecroft.
The company’s ESG Atlas and Risk Calculator allows investors to choose across ESG issues from 47 risk indices, to make country scorecards.
Investors likely to cheer South Africa’s Malema suspension
International investors have been feeling uneasy for the last couple of years about the views of South Africa’s African National Congress youth wing leader Julius Malema, so his suspension for five years today may help South African assets.
Malema has repeatedly called for nationalisation of the mines, with some of his most recent comments just a few weeks ago, according to local press reports:
Greek debt: cheap but no bargain
Even if Greece avoids default, bankruptcy and ejection from the euro zone, its debt is not yet looking attractive.
At first sight maybe the bonds seem alluring, with five and 10-year bonds trading at around 33 cents on the euro, compared with the latest proposals of a haircut of 50 percent, valuing Greek bonds at 50 cents.
Libya, Algeria — source of euro zone funds?
With the euro zone seemingly running out of friends, it may be time to get more creative about where the bloc finds fresh funds.
The BRICS nations — Brazil, Russia, India, China, South Africa — are ready to help the euro zone via the International Monetary Fund, Russia Foreign Minister Sergei Lavrov said today, dampening hopes that some of these countries might invest directly in the euro zone’s rescue fund, the European Financial Stability Facility (EFSF).
World stocks, euro rise, look to Fed, G20
LONDON (Reuters) – World stocks and the euro edged up on Wednesday after a rollercoaster week, as investors hoped for comfort on the weak U.S. economy and troubled euro zone from meetings of the U.S. Federal Reserve and Group of Twenty leaders.
Greece’s prime minister George Papandreou won the backing of his cabinet on Wednesday to hold a referendum on a 130 billion euro bailout package, a decision that had sent markets into a tailspin in the previous sessions.
World stocks rise; look to Fed, G20
LONDON (Reuters) – World stocks and the euro edged up on Wednesday after a rollercoaster week, as investors hoped for comfort on the weak U.S. economy and troubled euro zone from meetings of the U.S. Federal Reserve and Group of Twenty leaders.
Greece’s prime minister George Papandreou won the backing of his cabinet on Wednesday to hold a referendum on a 130 billion euro bailout package, a decision that had sent markets into a tailspin in the previous sessions.
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