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Global Economy

20 January 04:49 PM Biden to be sworn in as US President on Wednesday
Biden announced an ambitious agenda for his first 100 days, including administering 100 million doses of coronavirus vaccinations.
20 January 02:04 PM Bahrain expected to raise $2 billion in bond sale
The debt sale comes after the Covid-19 pandemic and low oil prices exacerbated Bahrain’s fiscal deficit and pushed total outstanding debt to nearly $40 billion.
20 January 12:30 PM Britain’s inflation starts climb as Covid, Brexit effects combine
The UK's consumer prices rose by 0.6% in annual terms after a 0.3% increase in November.
19 January 04:25 PM Bank of America sees lower profits in Q4-20
Bank of America Corp recorded a decline in profits during the fourth quarter (Q4) of 2020.
19 January 02:41 PM Tesla starts delivering first Shanghai-made Model Y crossovers in China
Tesla began delivering locally-produced Model Y crossovers in China on 18 January.
19 January 01:53 PM IEA lowers 2021 global oil demand outlook amid COVID-19
Global oil demand is forecast to recover by 5.5 million barrels per day (mb/d) to 96.6 mb/d in 2021.
14 January 03:38 PM PepsiCo plans to achieve net-zero emissions by 2040
PepsiCo seeks to achieve net-zero emissions across its production cycle system by 2040.
13 January 05:19 PM Chipmaker Qualcomm to acquire NUVIA for $1.4bn
Mubasher: Mobile-phone chipmaker Qualcomm Inc said an agreement to acquire NUVIA, a chip startup founded by three of Apple’s top executives, for about $1.4 billion.
6 January 02:39 PM GM's 2020 China sales see third annual drop on pandemic
General Motors Co’s vehicle sales in China dropped by 6.2% in 2020, attributed to a prolonged sales slowdown in the world’s biggest auto market.
4 January 03:09 PM US airlines’ 2020 losses could top $35bn on pandemic
The Covid-19 pandemic has been brutal for US airlines, with carriers’ 2020 net losses likely topped $35 billion.
4 January 02:20 PM Peugeot owner's top shareholders nod to merger with Fiat
The top shareholders in Peugeot owner PSA have approved the group’s merger with Fiat Chrysler (FCA).
4 January 01:55 PM Eurozone manufacturing growth at fastest pace since May 2018
Mubasher: The eurozone manufacturing sector ended 2020 on a high note, with output growing at its fastest pace in the last three years.
4 January 01:05 PM Pandemic sends Singapore’s economy to worst ever recession in 2020
Singapore’s economy contracted by less than expected in 2020 as activity levelled up further in the fourth quarter (Q4) following the easing of COVID-related restrictions.
23 December 2020 11:20 AM LG, Magna announce $1bn JV in electric car gear
LG Electronics and automotive supplier Magna International are launching a joint venture (JV) valued at $1 billion that will make key components for electric cars.
22 December 2020 04:34 PM Apple plans to produce self-driving car by 2024
Apple is planning to manufacture a self-driving passenger vehicle with a new advanced battery technology by 2024.
22 December 2020 02:09 PM Britain’s GDP rises 16% in Q3 after first lockdown slump
The UK’s economic recovery from its coronavirus crash was somehow quicker than previously thought in the third quarter (Q3).
21 December 2020 04:18 PM EU antitrust regulators approve Fiat-PSA $38bn merger
Mubasher: The Italian-US automaker Fiat Chrysler Automobiles (FCA) and its French rival PSA have obtained the European Commission’s approval for their $38 billion planned merger
21 December 2020 02:38 PM Existing vaccines could protect against the UK’s new virus strain
Existing vaccines for COVID-19 will be effective in fighting off infection from new strains of the coronavirus.
15 December 2020 04:56 PM UK's unemployment rises in three months, layoffs reach record high
Mubasher: The UK’s jobless rate increased again in the three months in the August-to-October period and layoffs reached a record high.
9 December 2020 11:33 AM Uber sells its air taxi business to Joby Aviation
Joby Aviation would acquire Uber Technologies Inc’s flying taxi unit, Elevate, the second cash-burning business the ride-hailing company has sold off in two days.
2 December 2020 00:52 PM Biden not to immediately cancel Phase 1 deal with China
Mubasher: Joe Biden will not act immediately to remove the Phase 1 trade agreement that President Donald Trump signed with China.
2 December 2020 11:33 AM Pfizer-BioNTech COVID-19 vaccine authorised for use next week in UK
Britain has become the first country in the world to approve the Pfizer-BioNTech COVID-19 vaccine for use.
24 November 2020 04:59 PM Airlines to record $157bn losses in 2020, 2021 - IATA
The IATA warned of $157 billion losses expected to be witnessed by airlines in 2020 and 2021 due to COVID-19.
24 November 2020 02:42 PM Elon Musk becomes world's second-richest person
Elon Musk has officially overtaken Bill Gates to become the world's second-richest person.
23 November 2020 03:49 PM AstraZeneca-Oxford COVID-19 vaccine can be 90% effective
Mubasher: The UK’s pharmaceutical giant AstraZeneca announced that its coronavirus (COVID-19) vaccine could be about 90% effective.