Hong Kong slashed its economic outlook for the current year on Friday and warned that a recovery of the economy from a recession will depend on the time that the city will take to bring under control a fresh wave… Read More ›
Strategy
Oil And Gas Assets Worth $87bn Written In 9 Months Off Seven Top Oil Firms
With the novel coronavirus pandemic accelerating a global shift away from fossil fuels, almost $90bn from the value of their oil and gas assets was written off by the largest listed oil companies of the world in just the last… Read More ›
Chinese IPOs flood U.S. market despite delisting threat
Despite the threat of deliting for non-compliance to U.S. accounting standards, Chinese mainland companies are rushing to list their shares on U.S. stock exchanges thus increasing the risk of U.S. investors to the Trump Administration’s delisting ban. Despite trade threats… Read More ›
Wuhan Coronavirus vaccine developer CureVac BV makes stock debut on NY, raises $213M in IPO
Coronavirus vaccine developer CureVac BV stated, it has raised $213 million through its initial public offering (IPO) in New York setting the stage for the first stock market debut of a company developing a potential cure for the deadly disease…. Read More ›
Washington set to unveil strategic economic investment program in Columbia: Mauricio Claver-Carone
According to a senior official from the White House, next week Washington is set to unveil a major economic investment program with the Colombian government. The move assumes significance since it underscores Washington’s drive to relocate supply chains that it… Read More ›
IEA Slashes Global Oil Demand Forecast For Current And Next Year
The International Energy Agency (IEA) has said that there will be a greater fall in demand than was previously expected by it for the current year as well as for 2021 because of a surge in new infections of the… Read More ›
German companies expect business to normalize in 11 months: Ifo
In a statement on Thursday, Germany’s Ifo economic institute said, German companies expect business conditions to normalize in an average of 11 months. Germany’s services sector expect business to return to normal at 11.7 months, while the manufacturing sector sees… Read More ›
Chevron Corp invests in nuclear fusion startup Zap Energy
In a statement Chevron Corp said, it is in the process of investing in nuclear fusion startup Zap Energy Inc, joining its peers Norway’s Equinor and Italy’s ENI, who have also backed the startup in order to reduce their carbon… Read More ›
China’s banking industry likely to write-off bad debts worth $490 billion in 2020
According to a report from China’s Xinhua News Agency, China’s banking industry is expecting to expecting to write-off $489.91 billion (3.4 trillion yuan) of bad debts in 2020. These bad loans have cropped up due to Wuhan coronavirus. “The sector… Read More ›
Thyssenkrupp sees first signs of stabilization in businesses
On Thursday, German conglomerate Thyssenkrupp said, some of its businesses were stabilising in the current quarter after taking heavy hits from the coronavirus pandemic. Thyssenkrupp has reported a fiscal third-quarter adjusted operating loss from continuing operations, minus the elevator business… Read More ›
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