The strict stay at home orders during the lockdown of France resulted in a 80 per cent drop in petrol consumption in the last 10 days of March as cars remained off the road because of the travel restrictions, said… Read More ›
Month: April 2020
Qatar postpones $8 billion of un-awarded contracts for capex projects due to coronavirus
On Tuesday, Qatar’s ruler asked the government to delay $8.2 billion in unawarded contracts on capital expenditure projects due to the coronavirus outbreak. The outbreak is likely to negatively impact the Qatari economy and could lead to a recession, said… Read More ›
Fighting for marketshare OPEC+ wants U.S. to cut oil production as well
According to three OPEC+ sources, the group of oil producing nations known as OPEC+, which includes Saudi Arabia and Russia, may agree to a truce in the oil war and cut production at a meeting scheduled for Thursday, as long… Read More ›
Coronavirus Conspiracy Theories In UK Sees 5G Cell Towers Being Torched
With the spread of conspiracy theories online that put link the spread of the coronavirus pandemic in the United Kingdom to 5G mobile technology, a number of cell towers in the country have been set on fire and engineers harassed…. Read More ›
Chinese Mask Makers Scramble To Make Most Of Growing Demand Amid Virus Pandemic
Chinese manufacturers of face masks are reportedly making huge profits as demand across the world rises among the healthcare workers and common people to try and fight the novel coronavirus. This rush to make masks has created a “madhouse” like… Read More ›
Silver Lake Partners aims to raise $16 Billion for its 6th flagship buyout fund: Sources
Private equity firm Silver Lake Partners aims to raise at least $16 billion from investors for its sixth flagship buyout fund despite prevailing uncertainties following the outbreak of the Wuhan Coronavirus, said sources familiar with the matter at hand. Investing… Read More ›
Saudi Aramco appoint Mark Weinberger to its board
In a statement, Saudi Aramco said, it has appointed Mark Weinberger to its board of directors as an independent director. Weinberger will replace Andrew Gould, said the company in a statement. Weinberger was the global Chairman and CEO of EY (previously… Read More ›
Rolls Royce ditches 2020 free cash flow targets due to Wuhan Coronavirus
According to a report from the Financial Times, Rolls-Royce is slated to abandon its targets on deliveries, profits, cash and dividend, as airlines around the world ground their planes in the wake of the Wuhan Coronavirus outbreak. Rolls-Royce is also… Read More ›
Singapore’s revises date of forex intervention operations, helps market players align with monetary policies
On Monday, the Monetary Authority of Singapore (MAS) stated it will commence disclosing its foreign exchange intervention operations in April in order to enhance the market’s understanding of its monetary policy position. In a statement, the MAS said, its net… Read More ›
Service Sector PMI In Japan Drops At Fastest Pace In March Since 2009 Financial Crisis
A sharp drop in demand because of the coronavirus pandemic and the restrictions put on business activities have cause a contraction in the services sector of Japan in March that was the fastest for any month since the global financial… Read More ›
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