The Chinese retail sales increased 8.6% in May after a 7.2% increase in April and reached $2.33T for the first five months of 2019, the National Bureau of Statistics reports.
The Chinese President Xi Jinping and his Belarusian counterpart Alexander Lukashenko agreed to strengthen cooperation under the Belt and Road Initiative framework during a meeting in Bishkek, Kyrgyzstan.
The US business inventories reached $2.03T in April, a slight increase from the previous month and a 5.3% increase from the same period the prior year, the US Department of Commerce reports.
The Belgian Ambassador to Lebanon Hubert Cooreman promised to improve economic cooperation with Lebanon at a meeting with the Director of Lebanon's Chamber of Commerce Mohammad Saleh.
Moody's downgraded Turkey's sovereign credit rating into "junk" territory to B1 from Ba3, adding that the risk of the crisis of balance of payments kept rising, and with it the government default's risk.
Chinese mobile phone shipments revealed 1.2% growth year-over-year to 38.29M units in May, the CAICT stated, with total shipments during the period of January to May reached 152M units, down 4.8% from the same period in 2018.
Plans to set up a landmark joint venture between Tata Steel and Thyssenkrupp were rejected by EU regulators amid concerns that the deal is likely to reduce competition and push up prices.
The owner of dating application Bumble stated that it would revamp the holding structure and spend $100M, looking to better compete with rival Match Group's Tinder.
Khalid al-Falih, the Energy Minister of Saudi Arabia, stated that he hopes that oil producers are likely to be able to balance the oil market ahead of the next year.
On Monday, the US Trade Representative's Office is set to launch a week of testimony from US manufacturers, retailers and other businesses over the President Donald Trump's intention to impose additional tariffs on $300B worth of Chinese goods.
Marcelo Ebrard, the Mexican Foreign Minister, is planning to ask the G20 summit's member nations to pay attention to the rising number of migrants fleeing to Central America via Mexico.
The US Justice Department will announce its final decision on the $26.5B merger between the wireless carrier Sprint Corp and T-Mobile USA as soon as next week, according to sources familiar with the deal.
On Friday, Allianz announced it had finalised its acquisition of the 49% stake in New York's 30 Hudson Yards in a deal valued at $384M and a debt worth an undisclosed amount, expanding its footprint in the city's second-tallest office tower.
The Economy Minister of Mexico Graciela Marquez stated on Friday that the government would give a tough response if the US decided to increase tariffs on Mexican goods.
On Friday, executives of Dish Network Cor met with the US Department of Justice's (DoJ) head of antitrust Makan Delrahim and the Federal Communications Commission (FCC) chair Ajit Pai to discuss Sprint Corp and T-Mobile USA possible merger.
The German leading card producer Volkswagen stated on Friday that it would like to receive at least $1.7B from Traton's initial public offering (IPO).
The major German automobile company Volkswagen AG (VW) stated on Friday that it would invest $1B in CO2-optimized battery cell production together with Northvolt AB.
The US business inventories rose 0.5% in April, after being flat in March, as sales declined, though inventory accumulation was still anticipated to be a drag over the economic growth in the Q2, the Commerce Department said.
The Central Bank of Russian lowered the key interest rate from 7.75% to 7.50% and stated that one or more cuts are likely later in 2019, as the country faces slowing inflation and sluggish economic growth and slowing inflation.
British Prime Minister candidate Boris Johnson stated on Friday he would join the TV debate with other more contenders scheduled for Tuesday.
On Friday, Thyssenkrupp has appointed Premal Desai as a new Chief Executive Officer to lead its steel unit and restructure the business due to a drop in global demand.
The Indian Civil Aviation Minister, Hardeep Singh Puri, stated he was confident that issues at the grounded and debt-laden carrier Jet Airways would be solved in the near time.
WeWork Cos, the shared office space company, is considering the cash-and-stock deal to acquire a 70% controlling stake for around $1.9B in its Indian affiliate ahead of its plans to launch an IPO.
Volkswagen is planning to attract €1.9B by launching an initial public offering of its Traton truck unit, the German carmaker announced on Friday, adding the listing would be priced at about €27-€33 per share.