Wednesday 28 September 2016

Oil extends rise after surprise US crude stock draw

Oil prices extended gains from the previous session in Asian trading on Thursday after a surprise third consecutive weekly US crude inventory draw tightened the market. US West Texas Intermediate (WTI) crude oil futures CLc1 were trading at $45.59 per barrel at 0045 GMT, up 25 ce


Schools in Canada province closed after bomb threat

Canadian police evacuated all schools in the eastern province of Prince Edward Island on Wednesday after a bomb threat, but authorities said the situation was under control after no explosive device was found. About 19,000 students at 62 schools were taken to safe locations in th


US Fed keeps rates steady, signals hike by year-end

The US Federal Reserve left interest rates unchanged on Wednesday but strongly signaled it could still tighten monetary policy by the end of this year as the labor market improved further. Fed Chair Janet Yellen, speaking after the central bank's latest policy statement, said


Migrant boat carrying 600 capsizes off Egypt, 29 killed

A boat carrying around 600 people capsized off Egypt's coast, killing at least 29, officials said on Wednesday, in the latest disaster to befall migrants attempting to make the crossing to Europe. The boat sank in the Mediterranean Sea off Burg Rashid, a village in the northe


India to fund $2bn gas pipeline linking eastern states

India's government will partly fund a $2 billion gas pipeline project linking five eastern states to help kick-start economic growth in a region that has trailed the rest of the country, the oil minister said on Wednesday. The 2,500-km pipeline is to be built by state-run GAI


India to merge rail and federal budgets

India will merge its railway budget with the annual federal budget from the next fiscal year, ending a nearly century-long practice and easing the way for the government to cut populist subsidies and push through structural reforms. The world's fourth-largest rail network emp


Ecuador warns Opec of risks if no deal in Algeria

Ecuadorean President Rafael Correa said on Saturday he hopes Opec countries will reach an agreement to stabilize the oil market at the upcoming meeting in Algeria, warning of "serious risks" for the group if they do reach a deal. Members of the Organization of the Petro

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