-- JP Morgan on Sunday decreased the price target for supermarket chain operator Spinneys 1961 (DFM:SPINNEYS) to 1.50 Emirati dirhams from 2.10 dirhams and reiterated its overweight rating.
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Two Iran-linked oil tankers intercepted by U.S. forces near Sri Lanka have turned around in the Indian Ocean, Bloomberg reported on Monday.The vessels identified as the Tifani and Phonix were boarded by U.S. forces last week. The report said after initially heading west, the tankers turned east late Monday, according to shipping data.The U.S. has not clarified what will happen to the ships or their cargo, and both vessels continue to signal Asian destinations, creating confusion about their final route.
PetroVietnam Gas plans to increase imports of liquefied petroleum gas from the U.S., as the Iran war disrupts supplies from the Middle East, Bloomberg reported on Monday.The company plans to import about 66,000 tons of LPG from the U.S. in May, compared with 44,000 tons from the Middle East.PV Gas expects to import around 250,000 tons of LPG in the three months following the outbreak of the war, with more than half coming from the U.S., the report said.
The Trump administration has struck agreements to cancel offshore wind leases and redirect investment toward conventional energy projects, as part of its push to boost energy security and affordability.The deals with Bluepoint Wind and Golden State Wind will see the companies end their leases in exchange for investing equivalent amounts in areas such as liquefied natural gas, and oil and gas infrastructure.The U.S. Department of the Interior said Bluepoint plans to invest up to $765 million, while Golden State Wind will commit about $120 million.The department said the agreements aim to move away from projects reliant on subsidies and toward more reliable energy sources.