News

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Sat, 07 Sep 2019 16:01:08 GMT

Malaysia reserves rise

Malaysia's international reserves increased to $103.5B from around $103B in the beginning of August, a report published by the central bank shows.

Sat, 07 Sep 2019 15:01:15 GMT

Alibaba purchases e-commerce platform

Alibaba Group has agreed to acquire Netease's e-commerce platform Kaola for $2B and invest additional $700M in Netease's Cloud Music.

Sat, 07 Sep 2019 14:00:38 GMT

World Bank praises growth in Somalia

The economy of Somalia expanded 2.8% in 2018 and the economic recovery is steady and sustained, a report published by the World Bank states.

Sat, 07 Sep 2019 13:01:17 GMT

Lebanon PM to meet Macron

The Lebanese Prime Minister Saad Hariri plans to meet the French President Emmanuel Macron to discuss investment projects in Lebanon, a statement published by Hariri's office shows.

Sat, 07 Sep 2019 11:58:58 GMT

Taiwan inflation rises

Taiwan's inflation increased 0.43% in August, compared to the same period the previous year, a report published by the National Statistics agency shows.

Sat, 07 Sep 2019 11:09:57 GMT

US unemployment remains unchanged

The US unemployment rate remains unchanged at 3.7% and the economy added 130T jobs in August, the US Bureau of Labour Statistics reports.

Sat, 07 Sep 2019 10:01:22 GMT

Russian central bank cuts key rate

The Russian central bank has cut the key lending rate by 0.25% to 7% among weaker than expected inflation, a statement published the institution shows.

Sat, 07 Sep 2019 09:01:19 GMT

Xi meets with Angela Merkel

The Chinese President Xi Jinping met with the visiting German Chancellor Angela Merkel in Beijing to discuss strategic cooperation between the two countries.

Sat, 07 Sep 2019 08:00:58 GMT

Volkswagen, Northvolt to produce lithium-ion batteries together

Volkswagen and the Swedish battery producer Northvolt plan to build a factory for the manufacturing of lithium-ion batteries in a joint venture, the German car maker reports.

Sat, 07 Sep 2019 07:33:45 GMT

Bosch to team up with Chinese CATL

On Thursday, German Bosch announced beginning of a strategic cooperation with the Chinese Contemporary Amperex Technology (CATL) on development of cells for 48V battery system.

Sat, 07 Sep 2019 06:25:07 GMT

Xi meets Angela Merkel

On Friday, the Chinese leader Xi Jinping met the German Chancellor Angela Merkel to discuss bilateral relations and common challenges in the sphere of international trade.

Sat, 07 Sep 2019 05:36:11 GMT

Gerard Lyons quits race for BoE chair

According to the Times newspaper, the former adviser to the UK Prime Minister Borish Johnson, Gerard Lyons was struck off the list of contenders for the post of the Bank of England next governor.

Sat, 07 Sep 2019 04:34:08 GMT

China's FX reserves rise in August

The People's Bank of China reported on Saturday that the country's foreign exchange reserves increased by $3.5B last month, reaching $3.1072T.

Fri, 06 Sep 2019 19:45:39 GMT

Apollo, Carlyle compete for Arriva

The US buyout groups Apollo and Carlyle are competing for Deutsche Bahn's Arriva unit on the back of the entering the auction final stage, while the deal is expected to be valued at $3.3-4.4B.

Fri, 06 Sep 2019 18:41:34 GMT

Brazil's Petrobras begins binding phase of onshore oil blocs sale

Petroleo Brasileiro SA, the Brazilian state-run oil company, has launched a binding phase to sell its 41 onshore oil blocks in the states of Espirito Santo and Bahia, securities filings showed on Friday.

Fri, 06 Sep 2019 18:11:29 GMT

Porsche lifts stake in Croatia's Rimac to 15.5%

On Friday, Volkswagen's unit Porsche stated it had increased its stake in the Croatian supersportscar maker Rimac to 15.5%, after it took 10% stake last year, as the luxury car brand sought to intensify collaboration in the battery technology field.

Fri, 06 Sep 2019 16:40:04 GMT

Markets expect two Fed rate cuts

On Friday, futures of US short term interest rates regained previous losses, indicating that the markets still expect two Federal Reserve rate cuts during this year.

Fri, 06 Sep 2019 15:44:10 GMT

Lybia cuts back fuel supplies

Reuters reported on Friday that the Lybian National Oil Company has cut kerosene supplies to eastern areas of the country. The event is set to slightly decrease global fuel prices.

Fri, 06 Sep 2019 14:44:43 GMT

London court allows Parliament suspension

On Friday, the High Court of London denied the legal bid against UK Prime Minister Boris Johnson's planned suspension of the Parliament.

Fri, 06 Sep 2019 12:40:35 GMT

British Petroleum announces future plans

On Friday, British Petroleum revealed its plans to sell more of US oil in Asia by increasing productions. Moreover, LNG supply to Asia is also expected to increase in early 2020.

Fri, 06 Sep 2019 11:45:17 GMT

Azeri gas cuts into Russian market

On Friday, statistics revealed that Russian LNG exports to Turkey have decreased by a quarter due to Turkey importing Azeri natural gas.

Fri, 06 Sep 2019 11:00:32 GMT

Finland stops Brexit negotiations

On Friday, the PM of Finland, which holds the EU presidency, Antti Rinne stated that there will be no re-negotiations of the already proposed Brexit deal.

Fri, 06 Sep 2019 09:41:02 GMT

Oil prices steady on Friday

During the early hours of European trading session, oil prices fluctuated sideways despite crude oil inventories having declined during the past week.

Fri, 06 Sep 2019 09:08:08 GMT

China reveals cryptocurrency

Chinese officials on Friday revealed that a new cryptocurrency, similar to Facebook's Libra, is set to be launched in China. Forbes magazine revealed on Friday that the currency would be ready by November 11.

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