Global Economy

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 Reports

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.

Oil and Energy

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 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

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 Reports

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

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 Reports

16 February 12:28 AM Saudi Arabia launches cooperation programme with Djibouti

Riyadh – Mubasher: Saudi Arabia and Djibouti on Saturday signed a cooperation programme, according to the Saudi Press Agency (SPA).

Global Reports

16 February 12:13 AM Saudi Aramco changes frequency of fuel’s price review cycle

Riyadh – Mubasher: Saudi Aramco has changed the frequency of the price review cycle to be conducted monthly instead of quarterly, effective 16 February 2020.

Oil and Energy