SINGAPORE/HOUSTON (Reuters) - Asia would be the biggest beneficiary of any potential sanctions by the United States on Venezuela's oil sector, said traders and analysts, as exports from the South American OPEC member could be redirected to the region, filling a vacuum left by producer supply cuts.
Washington is considering sanctions on Venezuela's oil industry in response to the ruling Socialist Party's crackdown on officials and parties opposed to the government. An embargo against Venezuelan crude could block imports of about 740,000 barrels per day to the U.S.
Asian refiners would welcome the so-called heavy, or higher density, crude since production cuts by the Organization of Petroleum Exporting Countries (OPEC) have mainly curtailed this type of oil. At the same time, the start-up of new refining capacity is boosting demand.
(Barbados Today) The Barbados economy, which grew by an estimated 2.2 per cent during the first half of this year, is expected to slow by the end of 2017.
Acting Central Bank Governor Cleviston Haynes gave the revised projection today as he addressed a meeting of the Social Partnership at the Barbados Hilton Resort.
While suggesting that growth would be “in the region of 1.3 per cent to 1.8 per cent, compared to earlier estimates of 1.5 to 2 per cent”, Haynes explained that the economy remained very challenged with the international reserves plummeting to $635.5 million or just 9.7 weeks of import at the end of June.
This is even further below the 12-weeks benchmark, from the $705.4 million or about 10.7 weeks of import as at the end of March.
Making a presentation to Government, private sector and trade union leaders that was also nationally televised, Haynes said the drop in reserves was due mainly to Government’s expected external debt service obligations and the ongoing delays in securing planned foreign investment inflows.
NEW YORK (AP) -- Facebook is launching a new section dedicated to live and recorded video.
It's a potential threat to Twitter, YouTube, Netflix and other services for watching video.
People already watch a lot of videos on Facebook, but mostly when they scroll down their main news feed. Although there has already been a special video section, it mainly showed a random concoction of "suggested" videos.
Facebook's new Watch section builds on this. The idea is to let people find videos and series they like, keep up with them as new episodes air, and interact with other fans in the process.
It is available to some U.S. users Thursday, and more people will get it over time.
SAN FRANCISCO (Reuters) - Amazon.com Inc is exploring a technology first developed for the U.S. military to produce tasty prepared meals that do not need refrigeration, as it looks for new ways to muscle into the $700 billion U.S. grocery business.
The world's biggest online retailer has discussed selling ready-to-eat dishes such as beef stew and a vegetable frittata as soon as next year, officials at the startup firm marketing the technology told Reuters.
The dishes would be easy to stockpile and ship because they do not require refrigeration and could be offered quite cheaply compared with take-out from a restaurant.
If the cutting-edge food technology comes to fruition, and Amazon implements it on a large scale, it would be a major step forward for the company as it looks to grab hold of more grocery customers shifting toward quick and easy meal options at home.
(CNN): The company said Tuesday that it will end its partnership with the streaming service in 2019.
Disney also announced it will launch its own streaming services, and plans to acquire a majority stake in BAMTech, a major streaming and marketing service.
Disney's cable networks, such as ESPN, make up the majority of the company's earnings. However, that proportion has fallen in recent years as viewers change the way they consume entertainment. The new streaming services are a way to connect directly with consumers and take advantage of new viewing habits.
To that end, Disney is paying $1.58 billion for majority ownership of BAMTech.