Top News

21 February 07:32 PM Chinese solar industry may rebound in 2020

Mubasher: The China Photovoltaic Industry Association (CPIA) expects the country’s new installations to reach a range between 35 and 45 gigawatts in 2020.

Global Markets brief

20 February 05:28 PM Global LNG demand forecast to double by 2024 – Shell

Mubasher: Global demand for liquefied natural gas (LNG) is forecast to double to 700 million tonnes by 2040.

Global Reports

20 February 05:09 PM Moody’s: Global investment banks spend $72bn annually to face fintechs

Mubasher: Global investment banks allocate $72 billion annually to develop their information technology (IT), including retail infrastructure and applications, to face threats by fintech companies.

Global Reports

20 February 04:57 PM Coronavirus adds pressures on Asia Pacific’s economy - Moody's

Mubasher: The outbreak of coronavirus contributes to slowing down the economic growth in Asia Pacific as it affected trade, tourism, and supply chains, Moody's referred.

Global Reports

20 February 04:55 PM Morgan Stanley to acquire E-Trade Financial Corporation for $13bn

Mubasher: American multinational investment bank Morgan Stanley has announced that it will acquire discount brokerage E-Trade Financial Corporation in a consideration of $13 billion.

Global Reports

19 February 09:27 PM UK citizens may not completely abandon cash – GlobalData

Mubasher: Cash use In the UK is rapidly declining, as more consumers adopt new means of payment such as contactless cards and mobile payments.

Global Markets brief

19 February 05:04 PM General Motors to lay off 1,500 employees in Thailand

Mubasher: General Motors is set to lay off around 1,500 employees in Thailand in June 2020, Reuters reported on Wednesday.

Global Markets brief

17 February 04:33 PM New Zealand lowers growth forecasts due to coronavirus epidemic

Economic growth in New Zealand is expected to slow to around 2% to 2.5% in 2020, as a result of the coronavirus outbreak impact.

Global Reports

18 February 11:01 PM Dell seals $2bn deal to sell $2bn cybersecurity unit

Mubasher: Dell Technologies has entered into an agreement with a consortium to acquire Dell’s cybersecurity unit RSA for $2.075 billion.

Global Markets brief

18 February 02:34 PM Renault launches new website dedicated to road safety

Renault Group is creating an online website to raise awareness of road safety, in cooperation with Renault Foundation and the Association Prévention Routière.

Global Reports

17 February 05:13 PM GM to withdraw from Australia, New Zealand, Thailand

Mubasher: General Motors announced that it would shut down its sales, design, and engineering operations in Australia and New Zealand by 2021.

Global Markets brief

16 February 03:24 PM US mulls halting GE engine deliveries to China's new aircraft

Mubasher: The US government is mulling a proposal to stop exporting jet engines co-manufactured by General Electric Co to China.

Global Markets brief

13 February 01:15 PM MWC 2020 cancelled over coronavirus worries

The Mobile World Congress (MWC) scheduled to be held in Barcelona on 24-27 February 2020 has been cancelled

Global Reports

15 February 07:29 PM Royal Bank of Scotland plans rebranding, cutting investment-banking business

Mubasher: Royal Bank of Scotland Group (RBS) has unveiled plans to change its name to NatWest Group, according to MarektWatch.com.

Global Reports

13 February 04:50 PM Tesla may float $2bn shares to strengthen balance sheet

Mubasher: American electric vehicle and clean energy company Tesla Inc. is planning to raise $2 billion through a public share offering.

Global Reports

12 February 11:11 AM Dana Gas' net profit hits $157m in 2019 initial financials

Abu Dhabi – Mubasher: Dana Gas logged a net profit of $157 million (AED 575 million) for the full year ended 31 December 2019, against a loss worth $186 million (AED 682 million) in 2018, the preliminary unaudited financials showed on Wednesday. …

Financial Results

11 February 06:06 PM UAE’s TIME Hotels eyes expansion into Tatarstan

TIME Hotels is currently considering investment opportunities in Tatarstan, located 800 kilometres east of Moscow at the confluence of the Volga and Kama Rivers.

Global Markets brief

10 February 05:47 PM Volvo Cars mulls merger with Geely Automobile Holdings

Mubasher: Volvo Cars currently considers a merger with Geely Automobile Holdings Limited to create a global carmaker with presence across key markets.

Global Reports

10 February 05:26 PM Nissan halts production facility in Japan due to coronavirus

Nissan Motor Company will reportedly halt production at its manufacturing plant in the Japanese southwestern city of Kyushu starting from 14 February 2020

Global Reports

10 February 02:28 PM L Brands in talks to sell Victoria’s Secret

Mubasher: L Brands is close to seal a deal to sell its Victoria’s Secret brand to private equity company Sycamore Partners.

Global Markets brief

9 February 06:32 PM Toyota partners with Panasonic to develop car batteries

Mubasher: The Car manufacturer Toyota has partnered with Panasonic to form the joint venture (JV), ‘Prime Planet Energy & Solutions’, to manufacture car batteries.

Goods and Metals

9 February 01:48 PM US not planning to acquire Nokia, Ericsson

The US government has denied it could buy controlling interests in Nokia and Ericsson, two of the main rivals to Huawei Technologies

Global Reports

9 February 12:13 AM VW may resume operations in China late February

Mubasher: Volkswagen (VW) has postponed restarting production at its plants in China until 17 February 2020, as the coronavirus outbreak becomes fiercer.

Global Reports

OPEC producers may meet earlier than scheduled

8 February 05:50 PM Oman backs deeper oil output cut until June-end

Mubasher: Oman is supporting the recommendations made by an OPEC+ Joint Technical Committee (JTC) for a short, deeper oil output cut until the end of June, the GCC country’s oil minister Mohammed bin Hamad al-Rumhy announced, as Reuters reported …

Macroeconomics