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Global Markets brief

3 hours ago Renault appoints VW executive as new CEO
​​​​​​​Mubasher: French Automaker Renault on Tuesday named former Volkswagen executive Luca de Meo as new CEO, according to the New York Times.
05:59 PM Rising concerns over coronavirus weigh on global auto industry  
Mubasher: Rising concerns over an outbreak of coronavirus in China have dimmed the economic outlook for several sectors, mainly the automotive industry, according to GlobaData.
27 January 04:24 PM Chinese health insurance seen to surpass $136.6bn in 2022–GlobalData
Mubasher: The Chinese health insurance sector is forecast to grow to CNY 921.1 billion ($136.6 billion) in 2022.
25 January 07:23 PM Oil prices to soften in 2020 as geopolitical tension mitigated
Mubasher: Global oil prices are expected to decline during the first six months of 2020, according to a report released on Saturday by the NBK.
23 January 06:19 PM Global hydrocarbon investments to focus on LNG in 2020
Mubasher: The final investment decisions (FIDs) in the oil and gas sector are expected to be focused on liquefied natural gas (LNG) projects during 2020.
23 January 05:33 PM E-commerce market in India may top $91bn in 2023 -GlobalData
Mubasher: India’s overall e-commerce market value is forecast to top INR 6.3 trillion ($91 billion) in 2023, according to GlobalData.
23 January 04:49 PM African agriculture market shifts to mechanisation, ready for expansion
Mubasher: The $2.9 billion agriculture tractor market in Africa is expected to achieve a compound annual growth rate of 5.1% from 2019 to 2024.
23 January 03:32 PM Moody’s takes over risk intelligence technology leader RDC for $700m
Mubasher: Moody’s Corporation signed an agreement to acquire Regulatory DataCorp (RDC) for $700 million.
22 January 07:27 PM US’ Hilco Redevelopment Partners buys $240m refinery in Philadelphia
Mubasher: American real estate developer Hilco Redevelopment Partners has sealed a $240 million deal to buy the Philadelphia Energy Solutions oil refinery.
22 January 05:04 PM China likely to further pressure global LV sales in 2020
Mubasher: The world’s light vehicle (LV) sales fell to 89.8 million in 2019, its lowest level since 2015, declining by 4.8% year-on-year from 94.3 million.
21 January 04:24 PM Facebook to create 1,000 jobs in London this year
Mubasher: Facebook is planning to hire 1,000 people in London in 2020, the company’s vice president for the EMEA Nicola Mendelsohn stated on Tuesday.
21 January 02:10 PM GlobalData sees positive outlook for construction industry in 2020
Mubasher: Prospects for the world’s construction industry in 2020 are generally positive, although it has been facing challenges to achieve growth momentum.
20 January 05:33 PM Hong Kong’s card payments may top 1bn in 2020 -GlobalData
Mubasher: Total number of card payments in Hong Kong is likely to increase to 1 billion in 2020 from 642.0 million in 2015, GlobalData said.
19 January 06:16 PM Swiss Nestlé to invest CHF 2bn in recycled plastics   
Mubasher: Swiss-based Nestlé will invest up to CHF 2 billion ($2.067 billion) to shift from virgin plastics to food-grade recycled plastics.
18 January 07:12 PM Toshiba’s CEO to add title of president in April 2020
​​​​​​​Mubasher: CEO of Japanese multinational conglomerate Toshiba Corporation is set to add the title of president in April 2020, Bloomberg reported on Saturday.
17 January 08:39 PM Commercial, military satellites market to record $195.11bn in 8 years
Mubasher: The global commercial and military satellite market is expected to record a CAGR of 76.6% to $195.11 billion in 2020- 2028.
17 January 04:44 PM Volkswagen to acquire $560m stake in Chinese EV battery maker
Mubasher: Volkswagen is nearing the closure of a deal to acquire a 20% stake in China’s electric vehicle battery maker Guoxuan High-tech Company.
16 January 09:18 PM Tesla considers building design & research centre in China
​​​​​​​Mubasher: Tesla is reportedly planning to open a design and research centre in China to make ‘Chinese-style’ vehicles, according to Reuters.
16 January 05:54 PM Package holiday market seen at $632bn by 2023 despite challenges
Mubasher: The global package holiday market has been experiencing several uncertainties since the collapse of the UK’s travel operator, Thomas Cook.
16 January 04:31 PM US’ Southwest Airlines extends cancellation of Boeing 737 MAX flights
Mubasher: US-headquartered Southwest Airlines has announced that it will extend cancellations of Boeing 737 MAX flights until 6 June 2020, Reuters reported on Thursday.
15 January 10:45 PM US, China seal deal to ease trade tensions
Mubasher: President Donald Trump on Wednesday signed a trade agreement with China which puts an end to the trade war between the two major economies.
15 January 07:31 PM General Motors to move 1,350 temporary workers to full-time jobs
Mubasher: General Motors announced plans to move over 1,350 hourly employees in the US to 1,350 hourly employees at its assembly plants in Q1-20.
15 January 02:34 PM Prologic First rolls out 1st comprehensive hospitality cloud solution  
Mubasher: The leading technology solutions provider for the hospitality industry Prologic First has launched the first comprehensive hospitality cloud solution for hotel management.
14 January 09:55 PM OPEC+ may postpone March meeting to June
Mubasher: OPEC and its allies are expected to postpone an upcoming policy meeting from March to June, Reuters reported on Tuesday.
14 January 06:01 PM JPMorgan achieves record annual results in 2019
Mubasher: American multinational investment bank JPMorgan has posted record annual results in 2019, Reuters reported on Tuesday.