Monday , 26 July 2021
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Category Archives: Global Economy

Oil slips below $64 as ample supplies weigh

Oil eased below $64 a barrel on Friday as evidence this week of rising crude supplies from OPEC members outweighed signs of a slowdown in US output and Middle East tensions. 0 0 0 Brent crude was still within sight of its 2015 high reached on Thursday and has rallied 16 percent in April, supported by conflict in Yemen and ... Read More »

Nokia buys Alcatel-Lucent to grow in telecom gear

BBC Online Finnish telecom network equipment maker Nokia has agreed to buy Alcatel-Lucent in an all-share transaction that values its smaller French rival at 15.6 billion euros ($16.6 billion). Nokia will give Alcatel-Lucent shareholders 0.55 shares in the combined company for each of their old shares, resulting in 33.5 percent of the entity being in Alcatel’s hands and Nokiahaving 66.5 percent if the public ... Read More »

EU set to announce Google action

BBC Online The European Union is expected to set out later the action it will take against Google over alleged anti-competitive behaviour. Its competition commissioner is likely to outline her intentions against the search giant following a five-year EU investigation into the company. Reports suggest Margrethe Vestager will issue a “statement of objections”. That would escalate a process that could ... Read More »

Oil above $58 on US shale output report, Mideast

Crude oil rose on Tuesday after a forecast that US shale oil output would record its first monthly decline in more than four years and on tension in Yemen, where top oil exporter Saudi Arabia is embroiled in a civil war, reports Brent crude for May LCOc1 was up 50 cents at $58.43 a barrel by 0815 GMT, while US crude ... Read More »

WTO cuts world trade growth forecasts for 2015 -16

Global goods trade will grow by 3.3 percent this year and by 4.0 percent in 2016, less than previously forecast, mainly due to sluggish economic growth, the World Trade Organisation said on Tuesday, reports “We expect trade to continue its slow recovery but with economic growth still fragile and continued geopolitical tensions, this trend could easily be undermined,” WTO ... Read More »

Oil, gas mega-merger keeps global stocks fizzing

BBC Online Global stocks remained upbeat on Wednesday as a $70 billion mega-deal in the European oil and gas sector stoked the merger and acquisition fever that has gripped investors this week, reports Shares in BG Group rose as much as 42 percent in early trade after Royal Dutch Shell agreed to pay that amount (47 billion pounds) for its smaller ... Read More »

Shell to buy BG Group in £47bn deal

 BBC Online Royal Dutch Shell says it has agreed to buy oil and gas exploration firm BG Group in a deal that values the business at £47bn. The two firms say they have reached agreement on a cash and shares offer which gives investors a 50% premium on BG Group’s share price on 7 April. The deal could be one ... Read More »

Oil prices fall; Iran, China to discuss supplies

Brent crude prices fell almost $1 a barrel on Tuesday, with an Iranian delegation in Beijing this week to push for more oil sales, reports Oil markets were also pressured as Goldman Sachs said prices needed to remain low for months to achieve a slowdown in US output growth. China is Iran’s largest trade partner and also its largest oil ... Read More »

Oil up more than $1 after Saudi’s Asia price hike

Oil futures climbed more than $1 a barrel on Monday, after Saudi Arabia raised its prices for crude sales to Asia for the second month running, signalling improved demand in the region, reports International benchmark Brent regained ground after tumbling as much as 5 percent on Thursday, when a preliminary nuclear deal was finally reached between world powers and Iran. More ... Read More »

China unveils plans on building Silk Road Economic Belt

The Bangladesh-China-India-Myanmar (BCIM) economic corridor and China’s proposed ‘Silk Road Economic Belt and 21st-Century Maritime Silk Road’ are “closely” related, Beijing says as it has unveiled action plans on this joint ‘Belt and Road Initiative’, reports Chinese President Xi Jinping during his visits to Central Asia and Southeast Asia in 2013 launched the initiative of jointly implementing the ‘Belt ... Read More »