Company news

Oil hikes after Trump says Saudi, Russia likely to resolve price war

Crude oil futures gained almost 5% on Thursday after U.S. President Donald Trump stated that he anticipated an agreement will be reached by Saudi Arabia and Russia regarding their price war. Brent crude futures climbed 4%, or $1, at $25.74. ...
02.04.2020

Energy stocks shore up European shares as markets scramble amid crisis

European shares gained on Thursday, caused by a bounce in energy stocks as investors pin hope on a deal between Saudi Arabia and Russia regarding their oil price war. The pan-European STOXX 600 gained 0.3%. The energy sector .SXEP hiked 4.4%, ...
02.04.2020

China removes restrictions on car purchases to increase sales

In select regions, China had removed limitations placed on buying cars to render sales from the sector stable. Moreover, the country is expediting plans to herd old cars into retirement, China’s Ministry of Commerce had disclosed on Thursday. ...
02.04.2020

Disney+ will launch on OSN in UAE today

The Orbit Showtime Network has announced the launch of Walt Disney Co’s (DIS.N) Disney+ in the Middle East and North Africa. It will be accessible on pay television and streaming service provider starting on Thursday. OSN has revamped ...
02.04.2020

SoftBank cancels $3 billion deal for additional WeWork Shares

Japan’s SoftBank Group Corp pulled out of a deal to buy an additional $3 billion worth of shares from the shared workspace provider WeWork, according to a statement from the U.S.-based company’s special committee of the board on ...
02.04.2020

Gold prices gain amid prolonged economic uncertainty

Gold prices rose in Asian markets on Thursday as investors prepared for prolonged economic turbulence caused by the coronavirus pandemic. Gold Futures gained by 0.41% at $1,598 per ounce at $1,598 by 10:21 PM ET (3:21 AM GT), taking back lost ...
02.04.2020

Asian stocks fall as economy turbulence pile on market fears

Asian stock market underperformed on Thursday as piling economic turbulence led by the coronavirus pandemic continued to batter economies and governments around the world. Australia’s ASX 200 fell by 2.29% while Japan’s Nikkei slid ...
02.04.2020

U.S. Treasury hires Wall Street bankers, lawyers for aid advice

The U.S. Treasury Department hired lawyers and Wall Street bankers to serve as consultants regarding billions of dollars’ worth of aid to the defense, cargo, and airline sectors, sources said. The aid advice followed the approval of a ...
02.04.2020

Oil prices drop as U.S. inventory build-up, OPEC rift stresses market

Global crude oil prices fell on Wednesday, following their biggest successive quarterly and monthly losses, due to a largely expected rise in U.S. supply and a heightened conflict within OPEC. Oil prices have dropped close to their lowest since ...
01.04.2020

Apple donates 10 Million masks to China amid virus outbreak

SHANGHAI – Apple has sourced and procured 10 Million masks to donate them to the medical community of China amid the coronavirus outbreak. CEO Tim Cook said that Apple resumed its operations and reopened its 42 stores in China. The Apple ...
01.04.2020

Gold prices slip as Russia suspends bullion purchase

Gold prices slip as Russia suspends bullion purchase Gold prices fell on Wednesday morning, stretching out losses from Tuesday as speculations grew of Russia planning on moving from a major bullion purchaser to a seller. Gold Futures had slid ...
01.04.2020

Japan's factory activity shrinks at fastest pace as domestic and overseas demand slump

Japan’s factory activity contracted at a record pace since March 2009 amid a virus-hit economy that led to a sharp decline of domestic and overseas demand. Its Manufacturing Purchasing Managers’ Index (PMI) fell from a final 47.8 ...
01.04.2020

Macy’s loses spot in S&P; Carrier Global takes over

Macy’s M.N, an American department store chain, dropped its spot from the S&P 500 Index standard. Macy’s shares dropped 80% in the last 12 months of their operation which results in a lowered market value of $1.52 billion as ...
01.04.2020

Asian shares trade in green but COVID-19 caps gains

TOKYO- Asian shares gained on Wednesday, with Australian shares heavily contributing to the upbeat market activity. However, the margin of risk for equities remains wide as the novel coronavirus contagion brings constant disruptions to the ...
01.04.2020

Kuwait arms virus-beaten economy

KUWAIT- Kuwait imposed necessary measures on Wednesday aimed at aiding its economy from threats of the novel coronavirus. The arrangement involves long-term loans while the central bank requested other banks to implement unrestricted loan repayments ...
01.04.2020

Dollar steadies as investors brace for global economic contraction

The dollar steadied on Wednesday, supported by its safe-haven status, as the world braced one of the biggest economic contractions for decades. It gained against the yen, pound, euro, Swiss franc, New Zealand and Australian dollars as the market ...
01.04.2020

Healthcare stocks prompt Wall Street’s upbeat activity

U.S. shares advanced on Monday, with gains partly from healthcare stocks as investors sought securities which have diminished in value and are resistant from measures aimed at slowing coronavirus contagion. The S&P healthcare sector .SPXHC ...
31.03.2020

Asian shares soar, China’s manufacturing sector recovers

Asian shares recorded a positive but cautious increase on Tuesday as figures from China indicated that the factory sector regained momentum. MSCI’s broadest index of Asia-Pacific shares acquired 1.1% and Japan’s benchmark index ...
31.03.2020

E-firm Alibaba to buy 10% shares in Chinese courier Yunda: sources

E-commerce giant Alibaba Group Holding Ltd said that they had plans to buy a minimum of 10% of Yunda Holding Co Ltd according to two sources with knowledge in the matter. Alibaba has been leaning on buying the stake from Yunda’s major ...
31.03.2020

Samsung Display to end all LCD production in South Korea and China by end 2020

South Korean screen manufacturer, Samsung Display said on Tuesday that it would be halting all production of LCD panels in South Korea and China by the end of 2020. The company is doing this in order to produce more advanced screen panels, ...
31.03.2020
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