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Saudi Energy minister believes that they can stabilize the global crude markets again

According to Saudi Energy Minister Prince Abdulaziz bin Salman, OPEC and the other oil-producing giants that work with it, is in the process of getting the global crude markets back on track. “We do communicate with each other, we use every opportunity to talk with each other. We did not run out of ideas, we…
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Mainland China stocks surge as the fears over Coronavirus outbreak is being dialed down

On Friday stocks in Mainland China ascended. Overall, the Asia stocks were a mix bag. The Shenzhen component added 1.05% to 11,629.70 while the Shenzhen composite soared 1.125% to 1,907.35. The Shanghai composite jumped 0.31% to about 3,039.67 as well. According to China’s Ministry of Commerce, the work in China, which was declining due to…
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Asian shares go up amidst Coronavirus worry

On Wednesday, stocks of Asia and the US stock futures started surging after investors are now being less worried about the Coronavirus outbreak and its impact after the number of new coronavirus victims started becoming a bit less. As reported by Reuters, MSCI’s broadest index of Asia-Pacific shares outside Japan got back on track from…
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Chinese stocks surge beyond 2%, Asia shares mixed due to Coronavirus impact

Chinese stocks rose more than 2%. However, due to the Coronavirus impact, the rest of the Asia shares remained a mixed bag. Asia Pacific markets were mixed on Monday as investors were still skeptical due to the potential economic fallout caused by coronavirus that’s infected more than 70,000 people, and the death toll has risen…
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SoftBank shares skyrocket

A day following a U.S. district judge approving a merger between Sprint and T-Mobile, the shares of SoftBank group started ascending on Wednesday. Founded in 1981, SoftBank Group Corp. is a Japanese multinational conglomerate holding company headquartered in Tokyo and it is also a major shareholder of Sprint. SoftBank Group’s stock closed by adding 11.89%…
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Chinese factories remain closed due to Coronavirus outbreak

Stealing lives of many people, the Coronavirus has been making a major negative impact on the Chinese economy as many factories in various Chinese provinces remain shuttered and some regions have extended shutdowns. Initially, many factories were advised to resume work early February. However, due to Coronavirus quarantine efforts, the reopening could be extended even…
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Natural gas prices drop

Rainer Seele, the chief executive of Austrian energy firm OMV, says that he needs a good amount of extreme cold weather to power up the profits at a time when natural gas prices have plunged to historic lows. “Honestly speaking, if I have one wish for free, please send me an ice blizzard for the…
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Hyundai to cease production in South Korea due to Coronavirus

The automobile giant says that the current virus outbreak is making it difficult for them to get hold of parts from China. As a result, Hyundai Motor Company will suspend production in South Korea which makes it the first major carmaker to do so outside of China. The death toll of Coronavirus has risen up…
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Apple defeated Samsung on quarterly smartphone shipments

For the first time in two years, the smartphone behemoth Apple has succeeded in beating Samsung on quarterly smartphone shipments, as per analysis of several industry analysts. Apple witnessed their shipments soaring to 72.9 million units in the fourth quarter of 2019, according to Counterpoint Research, towering above the 70 million Galaxy phones sold by…
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A rewarding time for Apple

As reported by Apple, its revenue and profit surpassed the expectations of Wall Street analysts. Apple’s revenue soared 9% to $91.8 billion, succeeding in beating its own guidance. The success behind Apple’s earnings were partially boosted by iPhone revenue, which surged 8% on the strength of new iPhone models to $55.96 billion, as reported by…
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