Valenzuela Post

SINGAPORE/MELBOURNE — Oil prices jumped more than $1 a barrel on Friday, hitting their highest levels in nearly 14 months, after OPEC and its allies agreed not to increase supply in April as they await a more substantial recovery in demand amid the coronavirus pandemic. Brent crude futures for May rose to as high as

(Bloomberg) — Oil headed toward $65 a barrel after OPEC+ chose not to relax supply curbs even as the global economy pulls out of its pandemic-driven slump, confounding widespread expectations the group would loosen the taps. The surprise decision spurred a wave of crude price forecast upgrades by major banks. The producer alliance agreed to

(Bloomberg) — Follow Bloomberg on LINE messenger for all the business news and analysis you need. Indonesia laid down its plans to have a complete battery production line onshore, with a state-owned holding firm to be set up by June. The country has drafted an “end-to-end development” plan that would see four state firms supplying

SHANGHAI — China’s blue-chip stocks closed slightly lower on Friday, as investors digested the modest annual growth target set in the premier’s annual work report, although tech shares rebounded on a stronger commitment to supporting home-grown technology. ** The blue-chip CSI300 index ended down 0.3% at 5,262.80, while the Shanghai Composite Index was nearly unchanged

(Bloomberg) — Aggreko Plc, one of the world’s biggest suppliers of portable power generators, accepted a 2.3 billion-pound ($3.2 billion) bid from a private equity consortium. TDR Capital and I Squared Capital agreed to buy the business for 880 pence per share in cash, London-listed Aggreko said in a statement Friday. The price represents a

WASHINGTON — The U.S. Senate voted on Thursday to take up President Joe Biden’s $1.9 trillion coronavirus aid bill, but put off the start of a contentious debate until the full text of the 628-page bill was read aloud. The party-line vote of 51-50, with Democratic Vice President Kamala Harris breaking the tie, illustrated that

Gold declined to a near nine-month low on Friday and was set for a third straight weekly decline, as the dollar and bond yields rose after Federal Reserve Chair Jerome Powell’s remarks that the rise in yields were not “disorderly.” Spot gold was steady at $1,697.60 per ounce by 0712 GMT, having earlier fallen to

OSLO — Norwegian aluminum maker Norsk Hydro has agreed to sell its underperforming Rolling division to private equity firm KPS Capital Partners for 1.38 billion euros ($1.65 billion), Hydro said on Friday. The division, which turns aluminum slabs into metal sheets used for packaging, automobiles and drinks cans among other products, had been under review

BERLIN — Orders for German-made goods rose by twice as much as expected in January as robust foreign demand more than offset domestic weakness to buoy manufacturers in Europe’s largest economy, official data showed on Friday. The data published by the Federal Statistics Offices showed orders for industrial goods rose on the month by 1.4%

Indonesia’s rupiah was hovering around four-month lows on Friday as rising U.S. bond yields sent the dollar higher and hit appetite for Asia’s emerging currency and stock markets. Stock markets in Asia suffered early falls following overnight comments by Federal Reserve Chairman Jerome Powell, who reiterated the Fed’s policy stance as appropriate, even though he