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Global Economy

10 December 01:36 PM Rolls-Royce’s biggest shareholder leaves board
Mubasher: UK engineering giant Rolls-Royce said that representative of its largest shareholder ValueAct Capital left its board, according to its website.
10 December 01:00 PM Moody’s sees stable outlook for global life insurance
Life insurance sectors in Germany, Norway, and Taiwan are seen as the most exposed to low interest rates
10 December 12:40 PM Kennedy Wilson buys Greater London office campus for $179m
Mubasher: US property giant Kennedy Wilson and its equity partners concluded an off-market purchase of a quality office campus in Greater London sub-market of Weybridge.
9 December 06:57 PM Finland appoints world’s youngest Prime Minister
34-year old Sanna Marin has been chosen as the new Prime Minister of Finland, which makes her the youngest serving prime minister in the world.
9 December 04:06 PM OZY Media sees "exponential growth" from MENA in entertainment, media
Mubasher: The global media pioneering company, OZY Media, said it will increase its focus on the entertainment and media industry across the MENA region.
9 December 02:53 PM China’s solar PV market grows despite US tariffs - GlobalData
The global solar PV market is expected to see a 13% growth in installations
9 December 02:51 PM EBRD invests $4m in Turkish bus-ticketing service firm oBilet
Mubasher: The European Bank for Reconstruction and Development announced an equity investment of $4 million in Turkish online bus-ticketing service provider oBilet.
9 December 01:57 PM Swedbank rejigs management structure; Baltic banking head leaves
Mubasher: Swedbank announced on Monday that its chief risk officer will leave, in the framework of the Swedish lender’s plan to revamp its structure.
9 December 12:31 PM Sanofi to acquire US biotech firm Sythorx $2.5bn
Mubasher: Sanofi on Monday said it will take over US biotechnology company Synthorx in a cash deal that valued the latter at $2.5 billion.
7 December 10:45 PM US federal aviation admin to impose $3.9m fine on Boeing
Mubasher: The US Federal Aviation Administration (FAA) is seeking to impose a $3.9 million fine on Boeing Company, according to Reuters.
7 December 04:39 PM OPEC+ output cuts may be eased on drop in inventories
Mubasher: OPEC+ output cuts are expected to be eased after global inventories drop and prices reflect a tighter market, Saudi energy minister said.
6 December 10:53 PM Oil futures mark highest settlement in over 2M on Friday
Mubasher: Oil futures recorded the highest settlement since 17 September on Friday, surging 7.3% for the week. 
6 December 10:38 PM Gold settles $18 lower on Friday  
​​​​​​​Mubasher: Gold prices dropped at Friday’s settlement, losing 0.5% for the week.
6 December 07:38 PM Nevada’s public utilities commission approves $1bn solar project
Mubasher: Nevada’s public utilities commission has approved 25-year Power Purchase Agreement for 690 megawatts AC Gemini Solar + Battery Storage Project in Clark County.
6 December 04:57 PM Saudi Arabia leads OPEC+ to agree on more output cuts
Mubasher: OPEC+ agreed to adjust output target and redistribute production cuts between its members, Bloomberg reported on Friday.
6 December 12:56 PM Phoenix Group acquires Swiss Re’s UK unit for $4.3bn
Mubasher: Reinsurance company Swiss Re agreed to sell its UK subsidiary for pension giant Phoenix Group for GBP 3.25 billion in cash and shares.
6 December 10:35 AM Global food prices hit 2-year peak in November
Mubasher: Food prices worldwide surged in November, hitting their highest level since more than two years, mainly driven by meat and vegetable oil price increases.
5 December 07:53 PM Ten wild predictions that could change global economy in 2020
5 December 05:42 PM Dubai, London, NY recognised 2019’s ‘Construction Mega Cities’ – GlobalData
The combined value of the project pipelines in those mega cities reaches $5.3 trillion
5 December 01:59 PM India considers law obliging social media users’ verification
The Indian government has proposed a new privacy bill that may require major social media platforms to offer an identify-verification option.
5 December 01:05 PM bitFlyer facilitates crypto purchases in Europe
Mubasher: Cryptocurrency exchange bitFlyer will make it easy for customers in Europe to purchase digital assets through credit and debit cards and other transfer methods.
5 December 01:03 PM Google’s algorithm takes its toll on Expedia as executives resign
Mubasher: Markets are worried over the headwind hitting Washington-based travel technology company Expedia after its CEO and CFO were forced to resign.
5 December 12:30 PM BP ups stake in Lightsource BP to 50%
The new investment will help accelerate Lightsource BP’s growth
5 December 11:58 AM Veeam unveils new backup service for Amazon Web Services
Mubasher: Backup and recovery software provider Veeam launched a new backup service for Amazon’s on-demand cloud computing platforms subsidiary, Amazon Web Services.
5 December 11:18 AM Moody’s cuts global banks’ outlook to ‘negative’
Mubasher: Moody’s Investors Service downgraded its ‘stable’ outlook to ‘negative’ for global banks, citing “downside risks.”