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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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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).
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.
15 February 11:20 PM Omani crude oil output falls 1.26% MoM in January 2020
Mubasher: Oman’s daily production of crude oil and condensates declined by 1.26% month-on-month (MoM) to 958,270 barrels in January 2020.
15 February 07:29 PM Royal Bank of Scotland plans rebranding, cutting investment-banking business
​​​​​​​Mubasher: Royal Bank of Scotland Group (RBS) has unveiled plans to change its name to NatWest Group, according to MarektWatch.com.
13 February 04:50 PM Tesla may float $2bn shares to strengthen balance sheet
Mubasher: American electric vehicle and clean energy company Tesla Inc. is planning to raise $2 billion through a public share offering.
13 February 01:15 PM MWC 2020 cancelled over coronavirus worries
The Mobile World Congress (MWC) scheduled to be held in Barcelona on 24-27 February 2020 has been cancelled