Brent pulling back today albeit well off the lows as of early afternoon as we hear headlines of an OPEC meeting potentially called early (although the sources of this meeting seem to be only forces who benefit from the cartel holding an emergency meeting) but also now having digested last week’s inventory and rig count data.
Tuesday’s best web covers a slowdown in Israeli exports to China, the allure of Iraq’s Kurdistan-controlled oilfields, a review of Cognizant’s recent earnings report, and India’s plan to attract foreign investment.
Wednesday’s best web covers power outages in India, the steelmaking industry in China, the lack of bids to explore the South China Sea near the Philippines, the future of mobile money, and the effect of large, foreign oil companies supporting local governments.
Friday’s best web covers the new Turkey-Tunisia development cooperation agreement, Reliance Industries’ Chevron sale, Gazprom maneuvering for access to Brunei resources, investor confidence in Mexico, and the emergence of the renminbi as the “anchor” currency of Asia.
Friday’s best web covers China’s experimentation with new financial rules, India’s consideration of IKEA’s waiver request, the IHH Healthcare IPO, bids submitted to explore Khan Asparuh, and the ASEAN-Latin America Business Forum.
Friday’s best web covers Gazprom’s wallowing stock price, the sharp reduction of European investment in Brazil, Caterpillar’s plans for Turkey, Starbucks’ quest to win over Latin America, and a closer look at one of the drivers of Chinese growth.
In the Leonardo DiCaprio movie Blood Diamond, a citizen from a diamond-rich African nation remarks on how much worse things would be if oil were discovered. The populace of Myanmar is about to find out how true that statement is for themselves.
In this morning’s markets update, the rally continued overnight with moderate gains in Asia thanks to no additional news out of the euro zone, combined with China’s growth initiatives.