Saudi Aramco shares dive, Gulf debt markets hit as oil drops
Saudi Aramco shares fell by as much as 10% on Monday, dropping below their December listing price after Saudi Arabia and Russia said they would raise oil production in a battle for market share, sending crude prices down by a third.
IMF says governments should offer cash transfers, tax relief to ease coronavirus effects
Government policymakers will need to implement “substantial” targeted fiscal, monetary and financial market measures to combat the economic impact from the rapidly spreading coronavirus, International Monetary Fund chief economist Gita Gopinath said on Monday.
Saudi investors feel the pain of Aramco free-fall
Saudi investors, who dipped into savings and took out loans to participate in Aramco’s record share offering, have been shocked by the free-fall in the shares of the kingdom’s crown jewel after an oil output pact between OPEC and its allies collapsed.
Saudi Aramco shares dive, Gulf debt hit as oil price plunges
Saudi Aramco shares fell by as much as 10% on Monday, extending a dive below the initial public offering price, after Saudi Arabia cut its official selling prices for crude and global oil markets plunged in response to news of a big output increase.
Coronavirus shock and oil price fall pummel world stocks
Global stocks plunged on Monday and prices for crude oil tumbled as much as 33% after Saudi Arabia launched a price war with Russia, sending investors already worried by the coronavirus fleeing for the safety of bonds and the yen.
Exclusive: Japan to boost special financing for coronavirus firms to $16 billion
Japan will boost its special financing for small and mid-size firms hit by the coronavirus to 1.6 trillion yen ($15.6 billion), according to a government document seen by Reuters on Monday.
Tesco plans $6.6 billion shareholder return from Thai, Malaysia sale
Tesco plans to return $6.6 billion to shareholders after it agreed to sell its supermarket businesses in Thailand and Malaysia to Charoen Pokphand Group as part of a plan to refocus on Britain.
Apple sells fewer than 500,000 smartphones in China in February amid coronavirus
Apple sold fewer than half a million iPhones in China in February, government data showed on Monday, as the coronavirus outbreak halved demand for smartphones.
Oil prices plunge by a third after Saudi Arabia launches output war
Oil prices lost as much as a third of their value on Monday in their biggest daily rout since the 1991 Gulf War after Saudi Arabia signalled it would hike output to win market share when the coronavirus has already left the market oversupplied.
CP Group’s $10 billion Tesco deal to test mettle of Thailand’s new antitrust watchdog
CP Group’s $10 billion deal to buy Tesco PLC’s 2,000 Thai retail outlets marks the end of a three-way tycoon tussle – and the beginning of the first engagement for Thailand’s newly powerful antitrust watchdog.
