October, 2019

• 22 October

  Masdar wins bid to develop 100MW Uzbek solar plant

  

  ABU DHABI / WAM Masdar, a subsidiary of Mubadala Investment Company and one of the world’s leading renewable energy companies, has announced that it is the winning bidder to develop Uzbekistan’s first Public-Private Partnership (PPP), solar project under the International Finance Corporation’s Scaling Solar programme. Announced by the Ministry of Investments and Foreign Trade of Uzbekistan, Masdar tendered the lowest …

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• 22 October

  Saudi Aramco pushing to complete IPO in 2019

  

  Bloomberg Saudi Aramco is pushing to complete its initial public offering (IPO) this year by relying more on local investors, after international money managers’ skepticism triggered a brief delay, people with knowledge of the matter said. The state-owned oil producer is considering making a formal announcement of the listing plan as soon as the next few weeks, according to the …

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• 22 October

  Oil jumps most on report Opec, allies to discuss deepening cuts

  

  Bloomberg Oil jumped the most in more than a week after a report that Organisation of Petroleum Exporting Countries (Opec) and allied crude producers will discuss deepening supply cuts next month. Futures climbed more than 2% in London and New York on Tuesday. Members of the Opec are concerned about the outlook for demand next year, Reuters reported, citing unnamed …

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• 22 October

  RBC cracks Wall Street’s top 10 list for advising on M&A deals

  

  Bloomberg Royal Bank of Canada (RBC) set a goal nine years ago to become a Top 10 investment bank in the US — but cracking Wall Street’s upper echelons for advising on takeovers had proved elusive. Until now. RBC Capital Markets has risen to the No. 10 ranking for advising on announced US mergers and acquisitions this year, its highest …

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• 22 October

  US bank cuts branch staff in digital push

  

  Bloomberg US Bancorp is eliminating thousands of branch workers as it adjusts to changing customer preferences, according to a person briefed on the decision. The cuts will be in the low thousands, the person said, asking not to be identified because the number isn’t public. In a memo seen by Bloomberg, Chief Executive Officer Andy Cecere said US Bancorp “made …

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• 22 October

  Axis Bank posts surprise loss as tax expense surges

  

  Bloomberg Axis Bank Ltd posted an unexpected quarterly loss due to a one-time income tax adjustment. It reported a loss of 1.12 billion rupees ($16 million) in the three months ended on September 30, down from a profit of 7.9 billion rupees a year earlier and compared with a 9.05 billion rupees average of analyst estimates compiled by Bloomberg. The …

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• 22 October

  Visa, Mastercard making mobile shopping easier

  

  Bloomberg Smartphones have made taking a photo and checking fantasy football scores a breeze, but inputting credit card details on that small screen can still be frustrating enough that many shoppers just give up, costing retailers billions. Now, the world’s biggest card networks — a group that includes Visa, Mastercard, American Express and Discover Financial Services — have joined forces …

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• 22 October

  Lagarde or not, women still face bias in economics

  Bloomberg Hostility and discrimination await women daring to encroach upon the male-dominated world of economics and central banking, according to papers presented at a European Central Bank conference. The research shows that the much-celebrated rise of Christine Lagarde — a lawyer and politician, not an economist or central banker — to become the ECB’s first-ever female president is atypical for …

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• 22 October

  Three words, 11 million jobs: Draghi’s legacy for euro area

  

  Bloomberg Three words — whatever it takes — defined Mario Draghi’s time as European Central Bank president, but he’s prouder of another number: 11 million jobs. Hardly a public appearance goes by without Draghi mentioning employment growth in the euro zone as a justification for the extraordinary monetary stimulus he’s pushed through since 2011. The focus on jobs might be …

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• 22 October

  World’s priciest oil auction may raise $50b in Brazil

  

  Bloomberg An auction next month of oilfields in Brazil may be the priciest ever held, raising at least $50 billion in licensing fees and compensation, according to people familiar with government estimates. Exxon Mobil Corp., Royal Dutch Shell Plc and other energy giants are set to vie for deep-sea deposits that could hold 15 billion barrels of oil, almost twice …

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