Money

Egypt says Eni’s giant Zohr gas field starts first production

Egypt says Eni’s giant Zohr gas field starts first production

December 16, 2017

CAIRO, Dec 16 — Egypt’s Eni SpA-operated Zohr natural gas field has started production, bringing the country closer to its goal of energy self-sufficiency. Gas from the Mediterranean’s largest offshore field is pumped to a facility in Port Said city, to be prepared for delivery to the national distribution network, with initial production of 350 million cubic feet per day, oil minister Tarek El-Molla said in a statement today. Daily output is set to rise to about one billion... Read more

Recent Articles in Money

Brexit marathon clears first milestone with hard yards ahead (VIDEO)

Brexit marathon clears first milestone with hard yards ahead (VIDEO) BRUSSELS, Dec 16 — The first phase of Brexit talks is done. Now comes the hard part. UK Prime Minister Theresa May has secured agreement from the European Union to move on from... Read more

Britain looking at distinct trade deal with EU -finance minister

Britain looking at distinct trade deal with EU -finance minister BEIJING, Dec 16 — British finance minister Philip Hammond said today it is likely Britain will want to negotiate a bespoke arrangement for a future trade deal with the European Union,... Read more

‘Nobody cares about gold’ as hedge funds seek thrills elsewhere

‘Nobody cares about gold’ as hedge funds seek thrills elsewhere NEW YORK, Dec 16 — Hedge funds are pulling out of gold bets as more exciting moves in equities and cryptocurrencies make safe-haven investments look boring. Money managers cut their bets... Read more

CFTC warns of bitcoin-futures dangers, after allowing them

CFTC warns of bitcoin-futures dangers, after allowing them WASHINGTON, Dec 16 — Bitcoin is going mainstream via the futures market, and the US regulator that allowed it to happen has a message: Buyer beware. The US Commodity Futures Trading... Read more



Four explosive claims against Uber in ex-employee’s letter

Four explosive claims against Uber in ex-employee’s letter SAN FRANCISCO, Dec 16 — A salacious letter alleging questionable and deceptive business practices by Uber Technologies Inc was released to the public yesterday as part of Alphabet Inc’s... Read more

Bursa may take a breather next week

Bursa may take a breather next week KUALA LUMPUR, Dec 16 — Bursa Malaysia is still within the uptrend channel but after the steep rally over the past few trading days, stocks on the local front may take a breather next week,... Read more

Ringgit to trade between 4.06-4.10 against US dollar next week

Ringgit to trade between 4.06-4.10 against US dollar next week KUALA LUMPUR, Dec 16 — The ringgit is likely to remain muted against the US dollar next week, as the foreign exchange market is expected to be subdued as it entered the holiday... Read more

Healthcare draws election-year worry, but 2016 repeat not seen

Healthcare draws election-year worry, but 2016 repeat not seen NEW YORK, Dec 16 — With another election year looming, investors in the healthcare sector are wary the coming months could reopen wounds suffered during the 2016 US presidential... Read more


Wall Street closes at records with tax overhaul in sight (VIDEO)

Wall Street closes at records with tax overhaul in sight (VIDEO) NEW YORK, Dec 16 — Wall Street’s three major indexes climbed to record closing highs yesterday with broad-based gains as a long-awaited bill to cut corporate tax rates looked like it... Read more

Global shares rise; US yield curve hits flattest in decade

Global shares rise; US yield curve hits flattest in decade NEW YORK, Dec 16 — Shares gained worldwide yesterday and Wall Street notched closing record highs on US tax legislation optimism, while the US yield curve turned its flattest in a decade... Read more

Oil hovers below two-year highs with focus on US output

Oil hovers below two-year highs with focus on US output NEW YORK, Dec 16 — Oil prices were mixed yesterday, lingering below two-year highs as the continuing outage of a North Sea pipeline gave support, while climbing US output and weak gasoline... Read more

Aston Martin owners rev up for 2018 exit with Lazard hire

Aston Martin owners rev up for 2018 exit with Lazard hire LONDON, Dec 16 — Aston Martin’s owners have hired Lazard to prepare for a stock market listing or sale of the British sportscar maker made famous by fictional spy James Bond, sources... Read more


Our Picks in Money

Video of the Day

Reuters Video: Wall Street jumps to highs on tax-cut hopes
Wall Street's three major indexes tallied record closing highs as hopes rose for the Republican tax bill to pass. ― Reuters Read More