Market Update

Royal Dutch Shell said it was selling off all oil and gas assets in Texas’s Permian Basin for USD 9.5 billion in cash. The buyer is ConocoPhillips.The sale deal covers the net of 225000 acres of land in the Permian, accounting for the production of 175,000 barrels of fuel per …

New York’s stock markets witnessed a mixed move of futures that switched between gains and losses on Tuesday. The U.S. central bank will meet, Wednesday, to decide on the fate of asset purchases. Officials are expected to hold interest rates near zero.Tapering of the Fed’s USD 120 billion in monthly …

The global financial industry has urged regulators all over the world to avoid imposing strict capital rules on digital assets.Warning is gaining momentum because such regulatory requirements are most probable to drive activity underground and, therefore deprive banks of the benefits of crypto technology.Trade groups as well as representatives of …

The headline Regional Business Activity Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey fell sharply to 9.6 in September from 39.1 in August.

Housing Starts in the US rose by 3.9% on a monthly basis in August after declining by 7% in July, the data published jointly by the US Census Bureau and the US Department of Housing and Urban Development showed on Tuesday.

The Bank of Japan (BoJ) will announce its policy decision on Wednesday, September 23 at 05:00 GMT. here are the expectations forecast by three major banks. SocGen “Given that the fifth wave of the coronavirus has begun to be contained, we expect that the BoJ will maintain its current main …

UAE Minister of Energy Tuesday, September 21, said that low gas prices are not sustainable, stressing that the recent increase occurred because of the key factors of the market, in addition to the lack of investment in the sector. Minister Suhail Al Mazrouei said at a sector conference in Dubai …

Japanese stocks tracked the decline in global markets, closing lower on Tuesday, as investors abandoned risky assets on fears of a possible default by China’s Evergrande Group, but some buying to seize opportunities helped limit losses. The Nikkei index fell 2.17 percent to close at 2,9839.71 points, its biggest drop …

Oil prices rose on Tuesday, September 21, after analysts pointed to signs of tight US supplies, ending a series of losses that lasted for days, while global markets still haunted by the specter of the potential impact on the Chinese economy from the crisis of the debt-burdened real estate group …

A looming debt-related default by Chinese Evergrande Group has suddenly shook up financial markets from Asia to Europe and the United States. On Monday, major banks were told that they will not collect interest payments on loans that are outstanding, while interest payments of USD 84 million on the company’s …