International

The European Union may need to scale back its plans to boost growth and counter climate change if it fails to quickly agree on a long-term budget, European officials said on Monday, as Germany and other northern states push to restrict spending, according to Reuters. The EU administration is funded with a seven-year budget. The…

Oil prices saw a gargantuan price jump when markets reopened after the weekend following the attacks on Saudi Arabia’s largest oil facility. The Iranian-backed Houthis group in Yemen claimed responsibility for the attacks. What has happened so far for the global crude market? So, the noticeable price increase seems to be well supported by fundamental factors…

Saudi Arabia’s stock market fell by 2.3% at Sunday’s open as the country confronted with weekend drone attacks on the heart of its oil production facilities in Abqaiq and Khurais claimed by Yemen’s Houthi rebels. Reports that the country may take weeks to return to full oil supply capacity is set to send crude futures…

London Stock Exchange has rejected Hong Kong Exchange’s $39 billion (£31.3 billion) takeover offer, opting to stick with its planned purchase of data and analytics group Refinitiv, according to Reuters.

The European Central Bank approved a fresh stimulus package as expected on Thursday, cutting interest rates and approving a new round of bond purchases to prop up euro zone growth and halt a worrisome drop in inflation expectations. The ECB cut its deposit rate to a record low -0.5% from -0.4% and will restart bond…

Fitch Ratings has downgraded Hong Kong’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘AA’ from ‘AA+’, according to a press release from the company.

The valuation targets for controversial real estate company WeWork are being dramatically lowered and the real estate company may not go public next week, according to CNBC. „Even at a $25 billion valuation, the demand is not there”. WeWork last raised money at a $47 billion valuation in the private market. WeWork’s earlier valuation came…

Vienna Insurance Group (VIG) starts operating in Sweden, Norway, Denmark and Finland. A locally established team of VIG underwriters will be offering insurance solutions to corporate customers through brokers. Branch offices are planned in Stockholm, Copenhagen and Oslo, Finnish customers will be serviced within the framework of the freedom to provide services. With its nearly…

Stocks in Hong Kong soared nearly 4% on Wednesday afternoon trade following reports that a controversial extradition bill is set to be withdrawn. By the market close, the Hang Seng index had jumped 3.9% to 26,523.23, paring some gains after surging as high as more than 4% earlier. Hong Kong leader Carrie Lam will reportedly…