WBG - Growth in developing East Asia and Pacific (EAP) is expected to remain strong and reach 6.3 percent in 2018, according to the latest World Bank economic report on the region. Prospects for a continued broad-based global recovery and robust domestic demand underpin this positive outlook. Still, emerging risks to stability and sustained growth require close attention.
REUTERS - But it warned that all its expectations hinged on Ukraine sticking with its $17.5 billion programme with the IMF, which has expressed concern about perceived backtracking on reforms and delays in implementing policies to tackle corruption.
REUTERS - Saudi Arabia has largely covered its hard currency funding needs for 2018 by completing this week’s $11 billion international bond issue, the head of the kingdom’s debt management office said.
INVESTOPEDIA - All of Fred Koch's four sons have become billionaires as a result of the unprecedented growth of the family business. In fact, according to Forbes' real-time net worth estimator, Charles and David Koch alone have a combined net worth of $96.6 billion as of November 2017. The two brothers are the only members of the family's second generation who still play an active role in the management of the company.
REUTERS - On Tuesday, Washington unveiled some $50 billion worth of proposed tariffs on Chinese imports and on Thursday Trump upped the ante, directing U.S. trade officials to identify tariffs on another $100 billion of Chinese imports. He said this was “in light of China’s unfair retaliation” against the earlier U.S. trade action. China responded by saying it was fully prepared to respond with a “fierce counter strike” if the United States followed through on the new threat.
BEA - The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced that the goods and services deficit was $57.6 billion in February, up $0.9 billion from $56.7 billion in January.
REUTERS - Australian gas producer Santos Ltd (STO.AX) said on Tuesday it would “engage with” Harbour Energy after receiving a $10.4 billion takeover offer from the U.S. company, its fourth unsolicited bid since August 2017.
STATOIL - Statoil has awarded drilling contracts to Archer, KCA Deutag and Odfjell Drilling for drilling, completion, intervention services, plugging, maintenance and modifications on 18 of Statoil’s fixed platforms.
LUKOIL - For the full year 2017, profit attributable to our shareholders more than doubled year-on-year and amounted to RUB 418.8 bln. In the fourth quarter of 2017, profit was RUB 120.5 bln, which is 23.8% higher quarter-on-quarter.
BEA - Real gross domestic product (GDP) increased at an annual rate of 2.9 percent in the fourth quarter of 2017. In the third quarter, real GDP increased 3.2 percent.
WNN - Westinghouse Electric Company's reorganisation plan - including its sale to Brookfield - has been approved by the US Bankruptcy Court. Westinghouse said the court's approval of the plan is a "significant milestone in the company's strategic restructuring".
BLOOMBERG - The government has paid out 109 billion kroner ($14 billion) since 2005 to explorers such as Lundin Petroleum AB and Repsol SA. It helped attract more companies to Norway, nearly doubling the pace of exploration and leading to key discoveries such as the multi-billion-barrel Johan Sverdrup field.
CBRF - On 23 March 2018, the Bank of Russia Board of Directors decided to cut the key rate by 25 bp to 7.25% per annum. Annual inflation remains sustainably low. Inflation expectations are diminishing progressively. The Bank of Russia forecasts annual inflation to be 3-4% in late 2018 and remain close to 4% in 2019. In this environment the Bank of Russia will continue to reduce the key rate and will complete the transition to neutral monetary policy in 2018.
SINOPEC - For the year 2017, the Company’s revenue was RMB36.209 billion, its net profit was RMB1.130 billion; asset-liability ratios remained low and cash flow performance remained strong. The Board recommended a final dividend of RMB0.144 per Share for the year 2017. After taking into account the interim dividend of RMB0.056 per Share, the total dividend for the year will be RMB0.200 per Share, the annual payout ratio is 79%.
SHELL - Shell reiterated its expectation of $6-7 billion annual organic free cash flow from Downstream by 2020, at $60 per barrel (real terms 2016) and mid-cycle Downstream conditions, with $9-12 billion expected by 2025. The company plans to invest $7-9 billion a year across Downstream, and to deliver a return on average capital employed (ROACE) above 15%.