Global Economy

14 April 05:57 PM Coronavirus could lead to 3% contraction in global economy

The International Monetary Fund (IMF) expects the global economy will shrink by 3% this year due to the impacts of the new coronavirus (COVID-19).

Global Reports

19 March 01:09 PM No new coronavirus cases in Wuhan, first time since outbreak

The Chinese city of Wuhan, where the new coronavirus is believed to have originated, has reported zero new cases with the novel disease.

Global Reports

17 March 06:27 PM Volkswagen to shut down factories in Europe over COVID-19 fears

The German carmaker Volkswagen Group announced that it will suspend its operations in Italy, Portugal, Slovakia, and Spain this week due to the COVID-19 pandemic.

Global Reports

15 March 05:50 PM Germany aims to prevent US monopoly over future coronavirus vaccines

Germany seeks to prevent the US from monopolising any future coronavirus vaccine.

Global Reports

15 March 04:51 PM Nike to close stores for two weeks amid coronavirus fears

Nike will shut down all of its stores in the US, Canada, Western Europe, Australia, and New Zealand.

Global Reports

15 March 04:18 PM Singapore advices against travel abroad on COVID-19 fears

Arrivals from Southeast Asian countries to Singapore are now required to self-isolate for two weeks.

Global Reports

6 March 08:36 PM Russia refuses OPEC’s plans for further output cuts

Mubasher: Russia rejected OPEC’s proposal to further cut oil output in response to the spread of the new coronavirus (COVID-19).

Global Markets brief

5 March 06:23 PM OPEC raises crude output cuts

OPEC has extended output curbs and increased production cuts by an additional 1.5 million barrels per day (b/d) until 30 June 2020.

Global Reports

3 March 03:44 PM Insight Partners completes Veeam’s $5bn acquisition

Insight Partners has completed the acquisition of Veeam Software, a leader in backup solutions providing cloud data management, at a total value of $5 billion.

Global Reports

2 March 03:10 PM Rolls Royce sales in China near zero on coronavirus epidemic

Rolls-Royce said that its car sales have fallen close to zero in China, the brand’s second-largest market after the US.

Global Economy

2 March 01:51 PM Nokia names new CEO

Mubasher: The Finnish telecoms equipment maker Nokia announced the appointment of Pekka Lundmark as its new president and CEO.

Global Reports

1 March 05:09 PM Samsung, LG Innotek close factories after confirmed coronavirus case

Samsung Electronics and LG Innotek have shut down their factories in South Korea after discovering a coronavirus case among their workers.

Global Reports

26 February 03:31 PM Auto sales expected to decline amid coronavirus outbreak – Moody’s

Moody's Investors Service (Moody's) has expected that the sales of global auto manufacturers will decrease amid the increasing number of coronavirus cases.

Global Reports

25 February 05:28 PM Thomson Reuters appoints former Nielsen’s president as CEO

Mubasher: Thomson Reuters Corporation has named former Nielsen Holdings’ president Steve Hasker as the new CEO following Jim Smith, Reuters reported on Tuesday.

Global Markets brief

24 February 05:37 PM UK’s Behavox secures $100m investment from SoftBank Vision Fund 2

Mubasher: UK’s artificial intelligence (AI) start-up Behavox announced a $100 million investment from SoftBank Vision Fund 2.

Global Reports

24 February 05:11 PM PepsiCo inks agreement to acquire Be & Cheery at $705m

PepsiCo has signed an agreement to acquire Be & Cheery from Haoxiangni Health Food at a total value of $705 million.

Global Reports

24 February 02:01 PM China warns against travel to US due to unfair treatment

The Chinese government is warning its citizens against travelling to the US due to what it sees as unfair treatment to tourists from China.

Global Reports

23 February 05:01 PM PepsiCo, Americana renew 25-year partnership

PepsiCo, the international food and beverage company, has renewed its 25-year partnership with Americana Group, one of the MENA’s largest restaurant operators and food manufacturers.

Global Reports

23 February 12:43 PM New AI solution promises automation with one click

Automation Anywhere announced the first integrated AI-driven process discovery solution for business processes.

Global Reports

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 Reports

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.

Oil and Energy

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 Markets brief