• Saudi Aramco stock offering to launch 17 November

      Saudi Aramco stock offering to launch 17 November

      After years of delay and false starts Saudi Aramco announced in a prospectus Saturday that its much-anticipated initial public offering will begin on 17 November, ending on 28 November for individual investors and on 4 December for institutional investors. Then a final share price is to be determined on 5 December.

      10
    • ECB to consider issuing public digital currency

      ECB to consider issuing public digital currency

      The ECB should consider issuing a public digital currency, according to an EU draft document seen by Reuters. The text also urges the bloc to develop a common approach to cryptocurrencies, including ban on projects deemed too high-risk. The move is a reaction to the Facebook plans to introduce its Libra digital currency, met with hostility by global regulators.

      25
    • IMF: Global economic outlook 'precarious'

      IMF: Global economic outlook 'precarious'

      The world economy is slowing to its weakest pace since the global financial crisis, as the US-China trade war and other factors like Brexit undercut business confidence and investment, the IMF said Tuesday. It warned that the outlook is beset by risks, and hence raised the possibility of the need for emergency action in the form of “an internationally coordinated fiscal response” if economic growth were to deteriorate further.

      44
    • UN calls for 'Global Green New Deal' to boost world economy

      UN calls for 'Global Green New Deal' to boost world economy

      The world must dramatically rethink its economic model in order to tackle growing environmental stress, inequality and development challenges, the UN said Wednesday, calling for a "Global Green New Deal". In a fresh report, the UN trade, investment and development agency (UNCTAD) called for countries to join forces and enable trillions of dollars in public sector investments to help reboot the global economy and counter climate change.

      50
    • Argentina returns to currency  controls as debt crisis spirals

      Argentina returns to currency controls as debt crisis spirals

      Restrictions on access to dollars took effect in Argentina on 2 Sept. as the government tries to control a rapid loss of foreign reserves and an accelerating devaluation of the currency. The measure says residents can’t buy more than $10,000 a month without permission from the Central Bank. Institutions need permission for lesser sums. It also says that dollars earned for exports should be brought into the company within five days of the time they are paid. Importers also need permission to make payments. It also bars people from buying dollars to pay domestic debts.

      68
    • Italy unemployment rate reaches 9.9% in July

      Italy unemployment rate reaches 9.9% in July

      Italy’s unemployment rate reached almost 9.9% in July after an upward revision to the previous month’s data, as some 18,000 jobs were lost, national statistics bureau ISTAT reported on Friday. That compares with the Eurozone average of 7.5% and is much higher than 3.4% in the Netherlands and 5% in Germany.

      77