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.

Global Markets brief

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

Global Reports

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.

Global Reports

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.

Global Reports

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.

Global Reports

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

Global Markets brief

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.

Global Reports

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.

Global Reports

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.

Global Markets brief

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.

Global Reports

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.

Oil and Energy

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.

Oil and Energy

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.

Global Markets brief

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.

Global Markets brief

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.

Oil and Energy

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.

Global Markets brief

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.

Global Markets brief

5 December 07:53 PM Ten wild predictions that could change global economy in 2020

Currencies

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

Global Reports

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.

Global Reports

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.

Currencies

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.

Global Markets brief

5 December 12:30 PM BP ups stake in Lightsource BP to 50%

The new investment will help accelerate Lightsource BP’s growth

Global Reports

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.

Global Reports