Eurozone will dive into deeper recession than other countries
The corona crisis will cause the eurozone countries to experience a deeper recession compared to other countries in the world. That said the Vice-President of the European Central…
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No firm agreement at G20 / Opec+ meeting
The energy ministers of the twenty largest economies have not made any further agreements about limiting oil production. The final statement following a video conference on Friday states…
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OPEC and Russia confirm the agreement to reduce output
In a statement, members of the OPEC oil cartel and ally Russia confirmed that they agreed on Thursday to cut production. In May and June, 10 million barrels…
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Saudi Arabia expands into European oil and gas markets
Saudi Arabia’s sovereign wealth fund has taken holdings in four major European oil and gas companies, with a total value of approximately $ 1 billion. Insiders reported this…
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ArcelorMittal rating downgraded, outlook set to negative
Credit rating agency Fitch has lowered the credit status of steel group ArcelorMittal to junk because of the difficult market conditions in the steel industry due to the…
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Moody’s expects that air traffic will loose one third of the volume
The European airport sector is under severe pressure from the outbreak of the corona virus. Experts from credit rating agency Moody’s have lowered their forecast for the industry…
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Construction activity in UK and Germany severely affected by virus outbreak
Construction activity in Germany and the United Kingdom was severely affected by the corona pandemic last month. Market researcher Markit reports that his purchasing managers index for the…
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