Iraq overtook Russia to become the third-largest supplier to China, while Oman edged past Iran in sales of oil to Asia’s biggest economy. Saudi Arabia kept the lead in the race even as its shipments slipped, data from General Administration of Customs in Beijing on Monday show. Cargoes from Angola rose. Source: Bloomberg
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Norway’s sovereign wealth fund hit $1 trillion for the first time on Tuesday, driven higher by climbing stock markets and a weaker U.S. dollar. Source: Bloomberg
Turkey, Iran and Iraq have agreed to consider taking “coordinated counter-measures” against the Iraqi Kurdish Regional Government’s (KRG) bid to hold independence referendum at a trilateral foreign ministers’ meeting in New York, days before the Sept. 25 vote in northern Iraq. Source: Daily News
The Federal Reserve has said that it will start to run down some of the investments it made to boost the US economy after the financial crisis. In October the Fed will start to reduce a $4.2trn portfolio of US Treasury bonds and mortgage-backed securities, it said. Source: BBC News