Friday, May 26, 2017

Open Up Nigerian's Petroleum Industry

Senate Passes Petroleum Industry Governance Bill

The Senate yesterday passed the Petroleum Industry Governance Bill (PIGB) which had been bottled up at committee level for nearly a decade. The House of Representatives is expected to follow suit in the coming days and thus end decades of monopoly by the Nigerian National Petroleum Corporation (NNPC). The PIB was sent to the National Assembly…

Honestly, Why Not Both?

Study: China Trade, Not Automation, Destroying U.S. Jobs

Despite concerns that the robots are coming for our jobs, automation is responsible for only a fourth as many lost jobs as trade with China since the turn of the century, according to a report released Wednesday. The left-leaning Economic Policy Institute analyzed recent research by economists Daron Acemoglu, of the Massachusetts Institute of Technology and…

Cuts Continue To Look Meaningless For Oil

Constructive Progress

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The star of today is, naturally, crude oil — and what a wild ride is has been! I came into the day long (VERY long……..) both DRIP and ERY. They started off well, and then they went into a free-fall which was, umm, a little disconcerting. Mercifully, I didn’t get stopped out, and they have turned around nicely. Take note, for instance, of the well-formed cup with handle pattern that has completed with ERY, shown below.
0525-ery

Expanding China's Maritime Reach

Maritime hub plan aims to create 1 trillion yuan sector

Local CPC committee and government vow to create national base for sea-based industries Fuzhou, capital of East China's Fujian province, is expected to become a major national base for the marine economy, according to an action plan proposed by the Fuzhou committee of the Communist Party of China and the city government late last year. The…

Thursday, May 25, 2017

First Time In Thirty Years

China dismisses Moody's downgrade decision

BEIJING - China's Finance Ministry Wednesday dismissed a decision by international rating agency Moody's to downgrade China's credit ratings. The downgrade was based on the "pro-cyclical" rating approach which is "inappropriate," the Ministry of Finance (MOF) said. Moody's said that it had downgraded China's long-term local currency and foreign currency issuer ratings to A1 from Aa3…

Na Na Na Na Na Naaaaaa

Barack Obama, in Europe, taunts Donald Trump for isolationism

With President Trump meeting European leaders nearby, former President Barack Obama took a veiled swipe at him Thursday, telling an audience in Germany that modern nations "can't hide behind a wall." "In this new world we live in, we can't isolate ourselves. We can't hide behind a wall," Mr. Obama said in Berlin at a forum…

He Sold Real Estate Before This So Are We Surprised

The reality of Trump's budget: selling snake oil

Trump’s first budget claims to cut taxes, strengthen the military, and balance the budget all while ‘protecting’ our three largest spending programs, social security, medicare, and defense, from any major cuts. If this sounds too good to be true, that’s because it is. President Trump’s budget practically defies gravity. Presidents turn the poetry of campaigning into…

Wednesday, May 24, 2017

Colonialism v2.0: Japan Support For African Private Sector

Japan Unveils $300m Facility for Africa

The Japanese Government and the African Development Bank (AfDB) have signed an agreement for an additional $300 million support under a running facility targeted at supporting Africa's private sector. AfDB said in a statement Japan had to date provided $1,5 billion in batches under the facility known as the Enhanced Private Sector Assistance (EPSA) for Africa,…

Wait!? Why??

Investors embrace Chinese REITs

Real estate investment trusts or REITs are becoming popular in China. Analysts said in China, as more investors increasingly eye long-term income instead of quick money from the real estate market, demand for REITs is expected to grow fast. REITS are a channel to securitize property assets and generate stable and steady yields for investors, they…

Problems In Japan's Economy For Three Decades Throw Shade On Trump Plans

Economic growth comes down to labor productivity

President Trump's economic team paints a rosier picture about what his policies could accomplish than the economics profession is willing to endorse. His team is formulating budget and tax proposals that project 3 percent annual growth, while the number crunchers at the Congressional Budget Office estimate about 2 percent. How fast the economy can grow comes…

Tuesday, May 23, 2017

Indian Response To China Push In Naval Theater

Israel to provide India with missile defense systems

Israel announced Sunday it had reached a deal worth $630 million to provide India's navy with missile defense systems, AFP reports. The new contract will see state-owned Israel Aerospace Industries (IAI) supply LRSAM air and missile defense systems for four Indian naval ships, a statement from the company said. IAI said the contract will be carried…

China's Banks Are Not Out Of The Woods Yet

Big banks' profitability on the mend

The Industrial and Commercial Bank of China building in Buenos Aires, Argentina. [Photo/VCG] The profitability prospects of China's big banks have improved in the first quarter of this year after the country's economy picked up steam during the period while smaller banks will see greater capital and liquidity pressure amid tightened regulation, analysts said. Industrial and…

Alternative Currencies Becoming Company Favorites

Why Startups Are Raising Cryptocurrency

One of the hottest trends among high-tech startups is using cryptocurrency to fundraise, a process called initial coin offerings. Forbes reported ICOs are “raising money at astonishing speed — amassing about $440 million over two years, mostly for developers of early-stage projects.” Billionaire venture capitalist Tim Draper told Reuters he is joining the ICO of a…

Blockchain On Fire!

Growth Of Ethereum Foreshadows Blockchain Gold Rush

The Enterprise Ethereum Alliance announced Monday more than 86 companies joined its network of blockchain innovators, including the National Bank of Canada, Samsung SDS and the San Francisco Stock Exchange. The EEA is the leading corporate gateway into the world of blockchain. Its founding members include Microsoft, JPMorgan Chase, Intel and Wipro, just to name a…

Low Oil Prices And Optimizing The Bottom Line For Big Oil

The cancer in the bones of the oil industry.

Almost everyone is happy when oil prices fall and consumers save money at the pump. However, there is a difficulty with oil prices falling too far too fast which is almost never brought up. Everything that has a beginning has an end, and this includes the oil industry. There will come a day when the world’s…

Monday, May 22, 2017

The Slap Heard Around The World

Melania Trump Rejects Donald Trump's Hand-holding

Perhaps Air Force One encountered some turbulence that shook Melania Trump to her core. Or, maybe she noticed a large fly on President Donald Trump's hand after deplaning at an Israeli airport. Either way, the first lady wasn’t having it when Trump reached out his hand to hold hers Monday during their first international trip since…

Friday, May 19, 2017

Advances In U.S. Natural Gas Reach And The Bypass Of Russian Market

Natural Gas, LNG Exports And Benefits To The U.S.

The export of U.S. liquefied natural gas (LNG) continues to yield economic and other benefits locally, regionally and to our country as a whole. Two recent news items illustrate – a report detailing the boost LNG exports is giving the Texas economy, and an agreement by Poland to buy American LNG, further expanding opportunities for a…

Farming v2.0 In New Jersey

Camden will house the world's largest indoor farm, thanks to state tax breaks

CAMDEN -- The world's largest indoor farm is expected to open its doors in Camden next year, thanks to a tax break from the state. Aerofarms LLC, a Newark-headquartered company that builds sustainable, efficient farms around the globe, plans to open its 10th facility, a 78,000-square-foot vertical farm, at 1535 Broadway in Camden. The addition comes…

Colonialism v2.0: Advance And Victory For China In Africa

Chinese Company Investing in Ethiopia's Eastern Industry Zone

One of the best examples of Chinese investment in manufacturing in the African continent can be found in Ethiopia's Eastern Industry Zone, according to CGTN. The zone lies just outside the country's capital Addis Ababa, and has become a place for manufacturing excellence and a platform for developing and transferring skills. Since its inception seven years…

Blockchain Adoption Continues To Gain Acceptance

Chile's Biggest Stock Exchange Adopts IBM Blockchain Tech

International Business Machines announced Wednesday it is partnering with the Santiago Stock Exchange, Chile’s largest stock exchange, to implement Latin America’s first blockchain stock exchange solution. “In our understanding, t will be the first to implement securities lending blockchain technology anywhere in the world," IBM Chile General Manager Francisco Thiermann told International Business Times. Thiermann said…